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Globalization and the New World of Business

The idea that the world has gotten smaller certainly seems to be proven out every place we look.  No longer is the Internet and its various byproducts solely the realm of teenagers and older gamers.  It has impacted the entire world. The interconnections between people all over the planet are changing and growing stronger each day. Naturally, there are groups of people who focus on the threat that such globalization may pose to their way of life.  However, the benefits of globalization are overwhelming.  The basic rules of commerce have changed as cash, communication, and goods travel across the world at the blink of an eye. The business marketplace of today is full of fresh ideas and possibilities.  The forces of liberal trading, globalization, and information technology have combined to open previously-locked international borders.  In this new world, individual countries melt into a virtual union of nations.  It is crucial to business success that ...

Natural Hazard Pose Acute Risk for Bangladesh, India, Myanmar, Vietnam and Philippines

Maplecroft, in a recent report, stated that emerging economies in the South Asia have the highest financial risks related to tropical cyclones and flooding and other natural hazards alike. The risk analyst also claimed that according to their Natural Hazards Risk Atlas, the 10 countries which face greatest exposure to natural hazards include Bangladesh, India, Myanmar, Vietnam and Philippines. The financial risks for these countries are high since the trading hubs and cities are highly exposed to natural hazards such as cyclones and flooding, and the point is extended further for capability lack to recover from such natural disasters. Experts from Maplecroft also stressed those natural disasters in the aforementioned South Asian countries would not only have significant impact on their economic output, but also on foreign businesses as well. Maplecroft also warned of risks including social unrest, corruption and food security which could finally lead to political risk in the South Asi...

Remembering Bir Shreshtho Munshi Abdur Rouf

It was April 8, 1971. Liberation war was in full swing. Pakistan Army soldiers attacked position of Mukti Bahini in Rangamati and Mohalchari with seven speed-boats and two launches. Plan was to drive out Mukti Bahini from the area. They came closer to the position and started firing heavily. At one point Pakistani Army cornered nearly 150 Mukti Bahinis. Lance Nayek Munshi Abdur Rouf  realized that his entire company was in trouble. He crawled forward to a trench with the intention of firing at Pakistani Army. He managed to do so and continuously fired with the automatic machine gun at the trench. Pakistani Army was confused with the heavy firing and was forced to drag their launches back. Two of the speed-boats drowned. This gave time to the Mukti Bahini, rest of the members of the company, to move back. Pakistani soldiers eventually started firing mortar shells after repositioning. Munshi Abdur Rouf kept firing at them so that his fellow Mukti Bahinis can get time to move b...

Moving out of Bangladesh? Tips on how to pack books

If you are moving overseas from Bangladesh, than packing is inevitable. It is actually an essential part of the moving process; there is no way you can avoid it unless you want to move overseas in just one cloth! But there are ways you can ease up the packing process and have fun while doing it. Yes that it true - you can actually have fun and enjoy - it is all about perspective and setting up the priority. For instance, in case of packing the books, the perspective is to pack it in the most effective way and the priority is to choose the ones that you really need in future. Here are few tips for you: - Get a shipping box that is very strong. Tape them additionally before placing the books inside. And yes, make sure that the box is free from dampness. - At first, determine what you want to keep and then go through the books. Choose the one that you really want to keep. You will be charged for the weight, so why pay for something that you will not need in future? - You will not...

World heritage in Bangladesh is under threat

Bangladesh’s Prime Minister’s office has recently asked two ministries that are responsible for Sundarban and its wildlife to restrict the access of ships through the world heritage site, declared by the UNESCO. The necessary arrangement is to be made by the ministry of environment and forest and the ministry of shipping; which basically is ensuring that ships only take routes approved by the two ministries. The ministries are to as well ensure traversable passage by scouring the area. According to a letter by the PM’s office- although the route that is used by vessels at present does ensure reduced distance and hence cost however is does hold a threat against the ecology. They also feel that the ministries must also concentration the natural resources and how they can be preserved. About 65% of the area of Sundarban is naturally sensitive; however the whole area is under severe risk due to the arbitrary passage of ships. The environment ministry recently gave allowance to MOS for pas...

January 2013: Small decrease in Inflation

Even though the non-food inflation has maintained it place at 9.09 percent, the general inflation has changed quite significantly from 0.52 to 6.62 percent this January. Although the fall of inflation rate failed to achieve the pre-targeted rate (7.5) set by the govt. in the current financial year, FY 2012-2013; it has achieved a very close fall of inflation rate of 7.38 this year. According to information provided by the Bangladesh Bureau of Statistics (BBS), the yearlong average as per the ’95-’96 baseline is still maintained at a rate of 8.4 percent. The month- month food inflation for dec’12 – Jan’13 however has raised up to 1.05 percent essentially due to rise of the basic food products such as fish, eggs, rise, lentil, atta etc. The non-food inflation has also rushed itself up to a point of 1.08 percent when considered in a month to month basis. Inflation on monthly basis has risen mainly due to the alterations in energy prices. This has caused a raise in the price of fuel...

International Ratings: Where does Bangladesh stand?

According to ‘Doing Business’: Doing business ranks Bangladesh as the 107th country out of 183 countries. According to them, Bangladesh ranks way above India and Indonesia. Goldman Sachs’s Next 11: It said that Bangladesh is one of the eleven uprising markets in 2005 and it shows that soon Bangladesh will be one of the largest economies in the world. JP Morgan’s Frontier Five: Bangladesh was named as one of the five most promising economies in the world. Bangladesh was ranked fourth among the five countries. The other countries are Vietnam, Nigeria, Kazakhstan and Kenya. Standard & Poor’s and Moody’s sovereign credit ratings: Bangladesh received BB- and Ba3 according to Standard & Poor’s. Moody’s rated Bangladesh as in level with Vietnam. ADB List of Asian Growth Drivers: The ADB list did not place Bangladesh as one of the eight countries of Asia which might cover the 95% of Asia’s growth within 2050.

World Bank, Global Partners Team up to Improve Bangladesh’s Health Sector

World Bank and all the other development partners of Bangladesh have joined forces to improve the healthcare system of the country. The Australian, Swedish, British and American government representatives had a meeting in Dhaka where they witnessed a Multi Donor Trust Fun Grant Agreement for the Bangladesh Health Sector Development Program. It will cost approximately USD 7 billion. 75% will be paid by the government and the rest will be paid by the partners.

বিশ্বায়নের কতটুকু সুবিধা ভোগ করতে সক্ষম হল বাংলাদেশ?

আজকের পৃথিবী বিশ্বায়নের খুটির উপর ভর করে দাড়িয়ে আছে । উন্নত দেশ, উন্নয়নশীল দেশ, অনুন্নত দেশ এই বিশ্বায়নের সুতার মাধ্যমে একে অন্যের সাথে হাত মিলিয়ে আজ অবস্থান করছে । বিশ্বায়ন আমাদের যে সুযোগ-সুবিধা দেয় তা কি আমরা ঠিকমতো ব্যবহার করতে পেরেছি? খুব সম্ভবত না, কিন্তু সত্যি বলতে যতটুকু পেরেছি, তা আসলে অগ্রাহ্য করা যায় না । বাংলাদেশের সম্মানিত অর্থমন্ত্রী তার সম্মানিত কালে বাকী মন্ত্রীদের থেকে বেশি বুদ্ধিমত্তার পরিচয় দিয়েছেন। সেজন্য বাংলাদেশ বিশ্বায়নের এ যুগে তাল মিলিয়ে চলতে সমর্থ হয়েছে । Corporate Bangladesh এ এই বিষয়ে একটি লেখা হয়েছে। লেখকের ভাষায়ঃ " উন্নত যোগাযোগ প্রযুক্তি ও দ্রুততম যোগাযোগ ব্যবস্থার সাথে, বিশ্বায়ন কোটি কোটি মানুষের দুয়ারে পৌঁছে তাদের মুহূর্তের মধ্যে সবকিছু আদান-প্রদানের সামর্থ্য দিচ্ছে। এই বিস্ময় আমাদের সকল বাধাকে অতিক্রম করে সমগ্র বিশ্বে ছড়িয়ে পরেছে নতুন সম্পর্ক, সৌহার্দ ও সম্ভাবনার আলো নিয়ে ।  " লেখক বিস্তারিত গবেষণা করেছেন এই বিষয়ে । তার মতে, বাংলাদেশ এর পূর্ণ সদব্যবহার করতে পেরেছে, যার ফলে আমাদের যোগাযোগ ব্যবস্থা, খেলাধুলাসহ অন্যান্য ক্ষেত্রেও অনেক উন্নতি...

Violence in Myanmar: Bangladesh Immigrants Not Responsible

The National Commission for Minorities (NCM) has reported that the Bangladesh immigrants had nothing to do with the recent racial disputes and violence in Assam. The dispute was between the Bodos and local Muslims. The NCM Chairman Wajahat Habibullah states that he has made a full report of the violence and submitted it to the Prime Minister of India, Mr. Manmohan Singh. The report contains the full details of the incident including the reasons and possible solutions to prevent such incidents from ever happening again. He also stated that the Prime Minister confirmed receiving the report. The enquiry commission reported that the dispute was not between the Bangladesh immigrants and the Bodos; it was between the Muslims residents of BTAD and the Bodos. The clash occurred about 1 month ago in July. Four Bodo people were found dead. Assuming it was done by the minorities, armed Bodos attacked the local Muslim residents.

AFTAB Group - Top performer

AFTAB Group is one of the best performing corporate groups in Bangladesh. Being one of a leading enterprise, AFTAB Group has created many success stories in the industry. The group covers many business sectors including banking, food, textile, agriculture, ready-made garments, industrial pump manufacturing and compressed natural gas. Their business is well established in every sector and growing even stronger. One of the best entrepreneurs of the country, Azharul Islam and his son Iftekharul Islam are the two main people behind the success of AFTAB group. The AFTAB Group is a major shareholder of the leading commercial financial institution – Uttara Bank. The head office of Uttara Bank is located in Motijheel Commercial Area, Dhaka.  The bank itself is one of the oldest and the biggest banks in the country. The bank has reached its success with almost 4,200 employees distributed in 207 branches around Bangladesh. Even more, the bank has 600 worldwide affiliates which enable an ...

The 20 year old question again: Is Bangladesh’s Defence Expenditure Justified?

The defence segment has always been among highest expenditure sectors of Bangladeshi budget. Like every year, the issue on defence will not go through a debate this time. The MPs always keep the defence expenditure under a shield of secrecy; the situation is indifferent in this year. However, for the first time, finance minister Abdul Muhit has presented a list of military hardware in the budget declaration that the government plans to buy during the next fiscal year. But no more details are available. But as government spends a huge portion of the taxpayers money on defence, may be this issue should be made more public. No one denies the necessity of strong armed forces. But no one is really sure how big a military does our country actually need. May be this issue should go through a debate whether the government should cut down on the defence expenditures, especially in our county where a huge portion of the people live under the poverty line. Our military forces train thei...

Link between social responsibility and entrepreneurship

According to analysts, good ideas may bring sufficient sponsors for entrepreneurs, so no worries for initiating a business as long as you have a good idea to build up on. These funds can be brought from the company’s corporate social responsibility funds. Even small amount of fund from companies may help flourish the social business. Social business events like the one held in Savar at Gonoshasthya Kendra, can bring a lot of attention both in the local public’s eyes as well as intellectuals; like the one mentioned which brought in together 700 local people and 125 foreign participants, the issue of which was to clarify the concept of social business and it being a way to resolve complicated matters. The discussion held there pulled out some outstanding facts about how CSR fund can benefit both the entrepreneurs as well as the company providing the CSR fund. They encouraged innovative ideas from the new generation, to work for the society and also to encourage others around...

Link between social responsibility and entrepreneurship

According to analysts, good ideas may bring sufficient sponsors for entrepreneurs, so no worries for initiating a business as long as you have a good idea to build up on. These funds can be brought from the company’s corporate social responsibility funds. Even small amount of fund from companies may help flourish the social business. Social business events like the one held in Savar at Gonoshasthya Kendra, can bring a lot of attention both in the local public’s eyes as well as intellectuals; like the one mentioned which brought in together 700 local people and 125 foreign participants, the issue of which was to clarify the concept of social business and it being a way to resolve complicated matters. The discussion held there pulled out some outstanding facts about how CSR fund can benefit both the entrepreneurs as well as the company providing the CSR fund. They encouraged innovative ideas from the new generation, to work for the society and also to encourage others around t...

Communication update: Ranks Tel is back

Ranks Tel, a non govt. land phone operator, founded back in 2005 with CDMA technology; has recently re-instigated their operations after a long period, of two years gap. Initially the network covered Dhaka and Chittagong regions, but plans to spread its network to Sylhet, Bogra and Khulna. In order to promote the re-launch, the operator also offered various interesting packages, such as Kotha, Nukhut and Astha. The operator had a total of approximately three lakh customers, when it was shut down in 2010; out of which a total of 20,000 loyal old customers already registered for the new service and, more are under process. The company was shut down due to license cancelling for allegedly unauthorized voice over internet protocol, VoIP, by the Bangladesh Telecommunication regulatory Commission, BTRC. Shortly before which the operator had also launched mobile phone services although with limited mobility. Ranks Tel has invested more than 400 crore taka in this business in our co...

Did Bangabandhu mean to say only three lakhs died in 1971?

We came across this rather lousy letter sent last year to The Guardian by Serajur Rahman, a retired deputy head, BBC Bengali Service. He claims that Bangabandhu Sheikh Mujibur Rahman mistranslated "lakh" as "million" or was confused in saying that three million people died in the war in 1971.  Mr. Serajur Rahman claims that "when I explained to him that Bangladesh had been liberated and he was elected president in his absence. Apparently he arrived in London under the impression that East Pakistanis had been granted the full regional autonomy for which he had been campaigning. During the day I and others gave him the full picture of the war. I explained that no accurate figure of the casualties was available but our estimate, based on information from various sources, was that up to "three lakh" (300,000) died in the conflict." According to Serajur Rahman, when Sheikh Mujibur met David Frost later that day, he announced, ...

Ban on Salt and Egg Temporarily Lifted

During Ramadan, inevitably the price of goods surge up. To tackle in price hike during next Ramadan, the government has lifted the ban on importing salt and eggs. The ban will remain lifted till 30 th June, 2012. During the year 2011-2012, the price of eggs has gone up to 9 taka per piece from 6 taka. That means that the price of eggs has increased over 50 percent in just one year. The daily demand for eggs is 20 million but the daily production is the exact half of it. The overall salt production this year was shorter than the target and the overall consumption. The target was to produce 1.45 million tonnes against the nationwide consumption of 1.43 million tonnes. Unfortunately, the production this year was just 1.16 million tonnes. This indicates that the price of salt and eggs will go haywire during Ramadan. To prevent this, the government has lifted the ban against importing salt and eggs. Till June 30 th , businessmen are allowed to import any amount of salt an...

Bangladesh’s Growth in Commerce and Industry

Bangladesh is emerging as a thriving economy. The future looks bright. The overall economic growth of Bangladesh is rapidly improving. According to most of the finance experts, this growth will continue because of the facilities provided by the government. It is to be mentioned that the Government of Bangladesh, despite restrictions and hurdles, provides numerous attractive offers to the potential investors. This is apparently the foremost reason why foreign investors still show interest in Bangladesh . Problems are there but since gaining independence in 1971, the economy of Bangladesh is growing. At that time, Bangladesh was already a top exporter of silk, sugar and textile. However, in the recent years, the country has gained an ample number of investors and companies. The main source of economic prosperity of the country is the export-oriented companies, which are abundant in Bangladesh . The total estimate of the export-oriented economy during 1972-73 was approxi...