A show on curry is set to begin in London’s Riverbank Park Plaza Hotel on October 14 to celebrate Britain as the paradise for global curry lovers. The UK-based Curry Life Magazine is organising the show, World Curry Expo, where curry and everything related to curry will be on display to attract visitors, curry lovers ... Read more
Business
New MD for Ericsson Bangladesh
Ericsson yesterday named Gary Dewing as its managing director for Bangladesh. Dewing who joined Ericsson in 1995 will succeed Per-Henrik Nielsen, according to a statement of the communications technology and services provider. Previously, Dewing was the regional head of sourcing and country manager of Ericsson
Canada keen to help Bangladesh realise its economic potential
Canada is eager to extend support to Bangladesh’s economy and boost the country’s foreign direct investment receipts, Heather Cruden, the Canadian high commissioner to Bangladesh, said yesterday. “Canada joins the world in applauding Bangladesh’s impressive economic growth of 6 percent in the last five years,” said Cruden at the luncheon programme of the Foreign Investors’
Banglalink launches idea generation contest for second year
Banglalink launched Grandmaster, an idea generation contest for university students, at a press conference held in the city on Wednesday, said a news release. This year, the competition has introduced a new platform: the facebook page ‘banglalinkmela’. Interested students will form groups and they will register and submit their ideas
Clients to be charged for inter-bank transaction
Bangladesh Bank is going to impose charge on clients of all banks for inter-bank money transactions through cheques and electronic fund transfer for the first time. Sources in the banking circle and clients said such move of the central bank would create extra burden for the clients. A BB official told New Age on Wednesday that ... Read more
SEC approves draft demutualisation act
The Securities and Exchange Commission on Wednesday approved the draft demutualisation act which will separate the management form the ownership of the bourses to do away with the conflict of interests. The approval came at a meeting on Wednesday presided over by the SEC chairman M Khairul Hossain at the commission’s board room
SEC okays Tk 24cr Global Chemical IPO
Warns Swadesh Investment The Securities and Exchange Commission on Wednesday approved a proposal of the Global Heavy Chemicals Limited to raise Tk 24 crore through initial public offering. The company will float 1.2 crore ordinary shares with an offer price of Tk 20 including a premium of Tk 10. According to the audited accounts of ... Read more
Stocks tumble over fresh WB loan statement
Dhaka stocks declined on Wednesday as fresh uncertainty surfaced among investors about the World Bank’s $ 1.2 billion loan for the Padma bridge project following a statement by the global lender. DGEN, the benchmark general index of Dhaka Stock Exchange, lost 0.89 per cent or 42.56 points, to close at 4,732.08 points
Four-day construction material exhibition begins
A four-day international exhibition on construction materials began at Bangabandhu International Conference Centre in the city on Wednesday. Over 40 exhibitors from 5 countries are participating in the fair titled ‘15th Con-Expo Bangladesh 2012’. Housing and public works state minister Abdul Mannan Khan inaugurated the
Robi revenue grows by 16pc in Q2
Mobile operator Robi’s revenue stood at Tk 962.70 crore in the second quarter (April-June) of the current year, growing by 16.20 per cent over the same period of last year. At a press briefing in the city on Tuesday, Robi managing director and CEO Micheal Kuehner said that Q2 was one of the successful quarters ... Read more
NBR cancels Robi’s VAT exemption of Tk 82.68cr
The National Board of Revenue cancelled exemption of mobile phone operator Robi’s value-added tax of Tk 82.68 crore because it did not submit a chalan against the exempted amount, said NBR officials on Tuesday. The Large Taxpayers Unit of the NBR on Tuesday cancelled the exemption and decided to adjust the amount from the money ... Read more
Investor optimism boosts stocks
Stocks returned to the black yesterday, as optimistic investors took fresh positions in the market. DGEN, the market tracking index of Dhaka Stock Exchange, finished the day at 4,774.65 points, after gaining 37.67 points or 0.79 percent. “Continuous healthy turnover boosted investors’ confidence, as evidenced in their
Electronics sales boom in Chittagong
Renowned brands open showrooms in the port city Business of electronic goods is booming in the port city, as retailers have set up hundreds of showrooms here. Almost all brands have opened showrooms in the city of around 50 lakh inhabitants to grab a pie of the lucrative market. Different business houses started strong marketing campaigns ... Read more
IDCOL to install 1,500 solar-powered irrigation pumps by 2016
The Infrastructure Development Company Ltd (IDCOL) plans to install 1,500 solar-powered irrigation pumps across Bangladesh by 2016, in a bid to promote alternative energy and limit reliance on fossil fuels. The new pumps will run on a combined 12 megawatts (MW) of power to be generated by solar panels, projected to save the government nearly ... Read more
BB warns state banks on classified loans
The central bank yesterday warned four state-owned commercial banks (SCBs) of rises in their classified loans and deteriorating risk management in recent months. The word of warning, which comes following the Hall-Mark Group loan scandal, was conveyed at a quarterly meeting between Bangladesh Bank and the SCBs, chaired by
Subscriber sues 11 GP officials
A Grameenphone subscriber in Chittagong yesterday sued 11 officials of the mobile operator, including its chief executive officer, for what the user said was misappropriation of consumers’ money by providing lucrative offers. SHM Habibur Rahman Azad filed the case with the Court of Metropolitan Magistrate Muntasir Ahmed, said his lawyer. Grameenphone officials said they are yet to
Stocks slip as investors take profit
Share prices on the premier bourse fell yesterday as the majority of investors apparently booked profit from their previous purchase. DGEN, the benchmark General Index of Dhaka Stock Exchange, finished the day at 4,736.97 points, after falling 63.45 points or
BB relaxes loan rules
The central bank yesterday relaxed some rules of loan classification and provisioning to address the concerns of banks and the business community. Banks will implement the previously announced loan rules from December, instead of September. Bangladesh Bank reduced the base for provisioning by 5 percentage points to
NBR nets record Tk 839cr tax from income tax fairs
The National Board of Revenue has collected a record Tk 839 crore in tax from the seven-day income tax fairs in 18 districts that ended on Saturday. Although the NBR had set a target of giving tax-related services to 1,00,000 people in the fairs, the number of visitors who availed themselves of the services was ... Read more
Nasir Group changes strategy for energy-saving bulbs
Intense competition from dozens of importers and assemblers has forced Nasir Group to revise its strategy for its locally-produced energy saving light bulbs. The company that used to make complete bulbs will now only sell burners to local assemblers. “I’ve talked to some importers and assemblers who have agreed to buy burners