Hotels International Limited and Pan Pacific Hotels and Resorts signed two agreements on Tuesday for hotel management and to refresh the Pan Pacific Sonargaon Dhaka Hotel. Pan Pacific Sonargaon Dhaka Hotel organised the signing ceremony at the hotel. Hotels International Limited and Pan Pacific Hotels Group signed the hotel management
Business
Chittagong shoppers gear up for Eid
Turnout of shoppers at different malls in the port city is rising, as the biggest religious festival for Muslims, Eid-ul-Fitr, comes closer. People of all ages are seen thronging the malls even till midnight. But traders in the city are not happy with their sales this year. Arif Mohammad Faiz, a salesperson at Rich Manz ... Read more
LDCs need game-changers to reach development goals
Experts suggest as an international conference comes to a close Least developed countries (LDCs) need some game-changers to reach their development goals, an expert said yesterday. They should impart more inclusive education and training to their children as the present education and training system is not working, said Jean-Francis Regis Zinsou, ambassador and permanent representative of ... Read more
215 out of 244 projects remain incomplete
ADP projects for FY12 215 out of 244 projects remain incomplete About 215 development projects, out of the total of 244 that were scheduled to be completed under the Annual Development Programme in fiscal year 2011-2012, remained incomplete at the end of the year. A report of the Implementation, Monitoring and Evaluation Division released on ... Read more
Govt to set up Tk 187cr industrial park for printers
BSCIC and Mudran Shilpa Samity set to sign deal The government plans to set up an exclusive industrial park for the printing industry at an estimated cost of Tk 187 crore in Munshiganj. Bangladesh Small and Cottage Industries Corporation (BSCIC) will develop the park at Sirajdikhan upazila on nearly 50 acres
No changes in monetary policy right now
Atiur says BB will follow inflation rates of both the base years until December Bangladesh Bank is not going to bring any change in its monetary policy right now though inflation rate was shown around 3 percentage points less as per the new base year over the old one. BB Governor Atiur Rahman said they ... Read more
Govt to offer 5 new licences for life insurance business
The government will offer five new licences for life insurance business and to prohibit bank loans in establishing such business entity. The finance ministry has finalised a guideline that said the minimum paid-up capital for life insurance companies would be
Dhaka stocks break 5-day losing streak
Dhaka stocks rose on Monday breaking a five-day losing streak on bargain hunting. DGEN, the benchmark general index of Dhaka Stock Exchange, gained 1.29 per cent, or 52.41 points, to close at 4,092.28 points. Turnover of the bourse increased to Tk 239.08 crore on the day from
Internet price slashed by 20pc
The government yesterday slashed internet bandwidth prices by 20 percent to Tk 8,000 per megabit per second (Mbps), as promised by Telecoms Minister Rajiuddin Ahmed Raju in January. The industry insiders say the new price will allow the internet service providers (ISPs), including the mobile operators and WiMAX providers, to decrease the internet
BB raises limit for banks’ cash transaction report to Tk 10 lakh
Bangladesh Bank has raised the limit for cash transaction report for commercial banks to Tk 10 lakh from the existing Tk 7 lakh. The BB issued a circular on Sunday to the managing directors and the chief executive officers of all commercial banks asking them to follow the instruction on submission of the CTR with
Dipu Moni seeks Nepal’s cooperation in water resources, hydropower
Foreign Minister Dipu Moni yesterday invited Nepal to participate in the sub-regional move initiated by Bangladesh for cooperation in water resources management and hydropower sector for the benefit of the people. There was immense potential for cooperation between Bangladesh and Nepal in areas of water resources and hydro-power to harness the synergies in these sectors on
Banks asked to keep branches open on Aug 18
BB to release new Tk 20 note Bangladesh Bank on Monday asked the commercial banks to keep open all or some of their branches on Saturday (August 18) to facilitate banking ahead of Eid-ul-Fitr. The BB issued a circular in this regard asking the banks to take adequate security measures to keep the branches open ... Read more
BGMEA works for a better industrial relationship
The country’s garment makers are now working on how to implement the Better Work Programme of the International Labour Organisation (ILO) to establish a better industrial relationship between the workers and the factory managements. Lejo Sibbel, ILO’s senior design adviser of the Better Work Programme, and
Friends of Yunus express concern for Grameen Bank
Members of Yunus Shurid (Friends of Yunus) at a meeting in Chittagong yesterday expressed deep concern over the recent proposed change in the legal structure of Grameen Bank. Professor Muhammad Sekandar Khan, vice chancellor of East Delta University and also the convener of Nobel Laureate Dr Yunus Shurid (Friends) Chattagram, presided
Poor Eid sales worry northern weavers
More than three lakh handlooms in 10 upazilas of Pabna and Sirajganj are abuzz with activities targeting sales during this Eid season. But the weavers in the major handloom clothing zone of the country are worried about low sales even in this peak shopping
Open new avenues for jobs
Analysts emphasise manufacturing sector as job creator Bangladesh must identify potential high-employment generating industries to lessen the burden on the readymade garment and agriculture sectors, experts said yesterday. The observation came at a discussion, “Creating Jobs for All” as part of the International Conference on People’s Empowerment and Development, organised by the foreign ministry, at
BB gives 25 machines to police, RAB
Counterfeit currency detection BB gives 25 machines to police, RAB Bangladesh Bank on Sunday supplied 25 counterfeit currency detection machines to Dhaka Metropolitan Police and Rapid Action Battalion to prevent circulation of fake notes ahead of Eid-ul-Fitr. BB deputy governor Md. Abul Quasem said the central bank had already taken a number of measures to ... Read more
ADB offers $215m for stockmarket reforms
Lender attaches 26 conditions to credit The government will have to form a special tribunal to deal with capital market related cases, in line with the conditions the Asian Development Bank has attached to a $215 million credit offer for Bangladesh. The government will also have to limit banks’ exposure to the capital market. The ... Read more
BB likely to set interest rate ceiling for SME loans
Bangladesh Bank may set a ceiling of interest rate for SME loans to curb the existing high banks’ interest rate of 18 to 20 per cent in the sector, said central bank officials. A BB official told New Age on Thursday that the central bank had taken a measure after the private sector development policy ... Read more
Taka shines against dollar
The taka has gained nearly five per cent against the US dollar over the past six months as import of products except fuel oil fell and foreign remittance rose. The foreign currency reserve touched $10.70-billion mark on Thursday as the 2012-13 fiscal year kicked off with a downtrend of opening of import LCs (letter of ... Read more