Six matches of national women’s handball decided in opener


Six matches of the Exim Bank 35th National Women’s Handball competition were decided on the first day (Monday) held at Shaheed Captain M Mansur Ali National Handball Stadium.

On the day, Narail District Sports Association (DSA) beat Habiganj DSA by 20-1 goals, Jamalpur DSA outplayed Thakurgaon DSA by 30-5 goals, Madaripur DSA overpowered Bagerhat DSA by 21-0 goals, Jashore DSA beat Rangpur DSA by 32-17 goals, Dhaka DSA defeated Bogura DSA by 38-7 goals and Bangladesh Ansar and VDP beat Naogaon DSA by 35-7 goals.

Earlier, Exim Bank Limited managing director Maksuda Khanom formally inaugurated the met as the chief guest.

A total of twenty three District Sports Association and services teams, split into eight groups, are taking part in the competition, sponsored by EXIM Bank PLC and organised by BHF.

Source: Bangladesh Sangbad Sangstha

Bangladesh had special plan for Ghanshyam; coach Jalil


Bangladesh national Kabaddi team

coach Abdul Jalil said that they had plans for Nepal, especially for the

Nepalese captain Ghanshyam Roka Magar.

In Monday’s grand final, Bangladesh defeated Nepal 45-31 to win

the Bangabandhu Cup International Kabaddi Tournament for the

fourth time in a row.

The Nepalese captain who is also a Pro-Kabaddi League player in

India alone carried his fellows in the final. Aside from him, none of

the Nepalese were a problem for the reigning champs.

The experienced coach of Bangladesh knew very well that they had

to do something to suppress Ghanshyam’s usual performance to

have the upper hand in the match. That was why the boys in red and

greens devised a detailed plan before the final.

Coach Abdul Jalil said, “I identified our defender Ziaur Rahman as

one of the best in the world. So, I made the best use of him today

(Monday) in the final. Zia was specially assigned to counter

Ghanshyam so that he could not play his usual way. That was our

special plan for the final
and Zia was our secret weapon.”

The coach said, “When I was given the assignment to coach

Bangladesh, I took that as a challenge to win the fourth consecutive

trophy for the country. As a local coach, it was an honour for me. I

proudly carried out my tasks and I want to bring more trophies and

victories for my nation.”

Bangladesh coach Abdul Jalil said that they were not expecting Nepal

as the opponent in the final before. He said, “We were thinking about

teams like South Korea, Japan, Thailand, and Kenya as an opponent

in the final. But we never count Nepal to be our opponent here. It

was a good match and a competitive one. Bangladesh won it by

playing well.”

Bangladesh captain Aruduzzaman Munshi who said goodbye to his

international career after the final said it was good to finish the

career with such a victory.

Source: Bangladesh Sangbad Sangstha

Bangladesh eyes mutual benefit from FTA with China: Titu


State Minister for Commerce Ahasanul Islam Titu has said Bangladesh is keen to ensure mutual benefits after signing of free trade agreement (FTA) with China.

“We want to move ahead with FTA. There is no doubt about it. We have to make sure that our partnership is mutually beneficial,” he said.

The state minister was speaking at a seminar titled “China-Bangladesh Free Trade Agreement: A Mutually Beneficial and Win-Win Choice” at the Chinese mission here on Sunday evening.

The seminar was organised by the Chinese embassy to Bangladesh in collaboration with Bangladesh China Chamber of Commerce and Industry (BCCCI) and Chinese Enterprises Association in Bangladesh (CEAB).

Chinese Ambassador to Bangladesh Yeo Wen also spoke on the occasion.

The state minister said Bangladesh is now considering 26 countries to sign different types of trade agreements, including the Comprehensive Economic Partnership Agreement (CEPA), preferential trade agreement (PTA) and FTA.

He said Dhaka’s priority is to increase employme
nt opportunities and investment through the signing of FTA with China.

“Our relationship is getting stronger day by day. The two countries can move forward with a political will for the development of people,” he added.

He also said Dhaka and Beijing have a look at Bangladesh-China relations in a comprehensive way to overcome any impediment.

“We want more trade and more investment with China so that we can grow further,” Titu said.

The Chinese ambassador said the under discussion free trade agreement (FTA) between Dhaka and Beijing will help reduce inflation in Bangladesh decreasing tariff of goods imported from China as the deal will lead to a decline in import prices.

“Overall tariff on goods imported from China to Bangladesh will significantly decrease after the signing of the FTA, leading to a reduction in import prices. This will have an immediate effect on alleviating inflation in Bangladesh,” he said.

The Chinese envoy said Beijing stands ready to work together with Bangladesh to announce the con
clusion of the feasibility study of the China-Bangladesh FTA in the near future.

China also strives to officially initiate negotiations within this year, so as to conclude the negotiations before 2026, commencing the building of a bilateral free trade zone, he added.

Source: Bangladesh Sangbad Sangstha

General point to point inflation increases slightly to 9.89% in May


The general point to point inflation rate in May has slightly increased to 9.89 percent due to the continuous increase in food inflation.

According to the monthly consumer price index released by the Bangladesh Bureau of Statistics (BBS), the general point to point inflation rate in April was 9.74 percent while it was 9.94 percent in March this year.

According to the data of the BBS, the point to point food inflation has slightly increased to 10.76 percent in May, 2024 which was 10.22 percent in April.

The BBS data showed that the point to point non-food inflation rate declined slightly to 9.19 percent in May down from 9.34 percent in April.

Besides, the general inflation rate at the urban level in May increased to 9.72 percent while it was 9.99 percent at the rural level.

At the rural level, the food inflation increased to 10.73 percent in May, up from 10.25 percent in the previous month, while the non-food inflation, however, declined to 9.31 percent in May as against 9.60 percent in April this year.

I
n urban areas, the food inflation also increased to 10.86 percent in May, up from 10.19 percent in April. The non-food inflation rate, also witnessed a slight increasing trend with 9.03 percent in May which was 9.01 percent in April last.

The national wage index rate witnessed a 9.89 percent growth in May with 122.04 points against 9.74 percent growth with 122.30 points in April.

Source: Bangladesh Sangbad Sangstha

Stocks witness flat


Stock markets today finished the session of the week flat as the major indices of the both Dhaka and Chittagong stock exchanges showed no significant rise amid lower activities of large-cap securities.

The benchmark index of the Dhaka bourse closed the day with 1.97 point up at 5,235.63. The blue-chip DS30 also followed the same trend with 1.05 point up at 1,138.31. But, the Shariah DSES closed the day with 10.06 points down at 1,856.99.

Out of 392 issues traded, 157 closed lower, 181 advanced and 54 issues remained unchanged on the DSE floor.

The major gaining issues were AFTABAUTO, CENTRALPHL, BDTHAI, GHCL and OAL. The major losing companies were SONALIPAPR, KOHINOOR, ORIONINFU, MEGHNACEM and PHARMAID.

The Chittagong Stock Exchange (CSE) closed the day of the week with downward trend with its major CASPI 19.30 points down at 15,000.39.

At CSE, 223 issues were traded. Of those, 71 closed higher and 123 closed lower when 96.68 lakh shares worth Taka 78.13 rore changed hands.

Source: Bangladesh Sangbad
Sangstha

BEA proposes Tk 11,95,486cr alternate budget


The Bangladesh Economic Association

(BEA) today proposed a Taka 11,95,486 crore alternate national budget

for the next fiscal year (FY25).

BEA general secretary Dr Md Ainul Islam proposed this alternate budget

at a press conference held at its office.

Dr Ainul said this alternate budget has been proposed in a bid to

transform 70 to 80 percent majority population of the country into

sustainable middle class by 2034.

He said if this proposed budget is implemented by the government,

disparity will be removed as well as there will be poverty alleviation,

ensuring of social security, reduction of inflation and improvement in the

foreign currency reserve situation.

BEA president Dr Qazi Kholiquzzaman Ahmad and immediate past

president Dr Abu Barkat were present among others.

The BEA alternate budget proposals highlight that the government would

have to explore many newer sources of revenue generation which were

unexplored in the past or not utilized as per necessity.

These include property tax, ta
x on excess profit, tax collection from the

recovered laundered money, undisclosed money and imposing tax on the

foreign nationals.

The association also suggested for putting more emphasis on direct tax

rather than indirect tax, keeping the poor, lower middle class and middle

class people outside the tax net for the next couple of years.

Out of the total alternate budget size of Taka 11,95,486 crore, the BEA

proposed for realizing Taka 10,24,767 core as revenue income which is

92.13 percent of the budget size. Out of the deficit budget size of Taka

1,70,719 crore, Taka 95,719 crore will come from the bond market, Taka

25,000 crore from the sales of savings certificates, Taka 50,000 crore

from the public and private partnership.

There will be no role of local loans and foreign loans in financing the

budget.

Source: Bangladesh Sangbad Sangstha

Bangladesh Bank hands over Nagad Digital Bank PLC’s licence


The Bangladesh Bank has granted the final license to Nagad Digital Bank PLC – paving the way for commencing operations as the country’s first full-fledged digital bank.

In this way, Bangladesh is going to formally enter the world of digital banking.

Mohammad Shahriar Siddiqui, director (BRPD) of Bangladesh Bank, handed over the copy of the digital bank licence to Tanvir A Mishuk, founder and chief executive officer (CEO) of Nagad Ltd., today at the office of Bangladesh Bank’s Governor Abdur Rouf Talukder. Once Nagad Digital Bank PLC is launched, it will function like the same as all scheduled banks do, said a press release.

During the handover, Deputy Director of Bangladesh Bank Nurun Nahar, Executive Director (BRPD) Saiful Islam, Additional Director (BRPD) Manirul Islam; and Nagad Ltd.’s Additional Managing Director Mohammad Aminul Haque, Deputy Managing Director Mohammad Anwar Hossain and Chief External Affairs Officer Sheikh Shabab Ahmed were present among others.

On 24 October last year, the central
bank issued letters of intent to Nagad and another company for digital bank licences. Only Nagad met all the conditions within the stipulated time, leading to its receipt of the first digital bank licence.

Earlier, around 500 companies, including Nagad, submitted 52 applications for securing a digital bank licence following the central bank’s call for applications through its website. However, based on technical capabilities and other considerations, only two companies were granted letters of intent.

Upon receiving the digital bank license, Tanvir A Mishuk, founder and CEO of Nagad Ltd., said, “We have been advocating for a digital bank to transform Bangladesh into a smart economy through cashless transactions.

A significant portion of the country’s people remains out of financial inclusion, and Nagad Digital Bank will work with them. Getting the license for the country’s first digital bank is historic. I extend my greetings to our 9.5 crore customers and everyone involved.”

Regarding the preparations for
launching the digital bank, Tanvir A Mishuk mentioned, “Customers will no longer need to visit banks; instead, banking services will be at their fingertips. We will offer single-digit interest loans without any collateral, introduce micro savings schemes and provide solutions to people’s day-to-day transactions. We have completed all preparations and expect to launch this innovative banking service soon.”

In just five years, Nagad has onboarded 9.5 crore people, showcasing newer innovations and advanced technology in mobile financial services.

The company ensures market competition by providing quality services to customers at low costs. Nagad’s rapid progress has earned it recognition from Prime Minister Sheikh Hasina as the country’s fastest-growing unicorn.

As part of its digital banking preparations, Nagad has achieved significant technological advancements and partnered with Silverlake Group, one of the world’s leading banking solutions companies.

The company is now working on credit rating capabilit
ies using artificial intelligence. Now the wait is for the start of digital banking operations.

Source: Bangladesh Sangbad Sangstha

Strong wind cause damage to banana farming in 2,500 bighas land


The recurring incidents of wind of late have caused huge damage to the banana farming in Chitwan.

According to Chitwan Banana Producers’ Association chairperson Madhav Prasad Ghimire, the gusty winds occurring in the district for the past couple of days has damaged banana cultivated in 2,500 bighas of land.

The erratic incident mostly caused damage to the banana farming in eastern Chitwan, Ghimire informed. “Banana planted in Ratnanagar, Kalika and Khairhani municipalities of eastern Chitwan have suffered heavy damage”, he added.

Association’s general secretary Janak Panta said the damage caused to banana due to the storm is estimated to be around Rs 120 million.

The banana farming of 70 commercial farmers have been completely damaged while the banana cultivated by others have been partially damaged, he said.

Around 90 per cent of the farmers have insurance for banana farming. He said that although the farmers with insurance will get some amount for the loss, the uninsured farmers will suffer complete l
osses.

At present, banana is cultivated in 3,500 bighas of land in the district. According to him, 700 farmers have cultivated bananas here, out of which farming by 165 banana farmers have been damaged due to the storm. It will take some time to bring the actual figure of loss and damage, he added.

Source: National News Agency RSS