Dhaka stocks fell on Tuesday as many of the investors went for sell-offs ahead of the High Court hearing of the writ petitions against the Securities and Exchange Commission rule of mandatory shareholding. DGEN, the benchmark general index of Dhaka Stock Exchange, lost 0.73 per cent, or 36.94 points, to close the day at 5,020.21 ... Read more
Business
Ruposhi Bangla gets new GM
James McDonald has joined Ruposhi Bangla Hotel as its general manager, the hotel said in a statement yesterday. McDonald, a British national, is a graduate of North Devon Polytechnic Hotel School, and holds a food hygiene certificate from the Royal Society of Arts. Prior to joining Ruposhi Bangla, McDonald was the general manager of
10-month export growth slumps to 8.41pc
The country’s export growth in first 10 months of the current fiscal year slumped to 8.41 per cent compared with the same period of the last fiscal year when the export growth was 40 per cent year-on-year. Officials of Export Promotion Bureau said that the economic crisis in Europe and sluggish market in the US ... Read more
Stocks return to positive zone with low turnover
Dhaka stocks gained on Monday amid low turnover as directors of nine listed companies announced to buy more than 3 crore shares to comply with the regulator’s mandatory shareholding rule. DGEN, the benchmark general index of Dhaka Stock Exchange, gained 1.10 per cent, or 55.34 points, to close the day at 5,057.15 points
Stocks plunge again over legal battle worries
Dhaka stocks fell sharply on Sunday after Thursday’s heavy gains as investors remained jittery about the outcome of the legal battle over the mandatory shareholding rule for the listed company directors. DGEN, the benchmark general index of Dhaka Stock Exchange, lost 1.47 per cent, or 74.81 points, to close the day at 5,001.81 points
Samsung poised for a lift-off
The company’s Bangladesh MD says it completes groundwork Samsung aims to strengthen its foothold in Bangladesh as it sees the country as a promising market due to the presence of a large customer base and high economic growth. The South Korean electronics giant has completed its groundwork in the country by opening a branch office ... Read more
Bangladesh set for slower growth
UN report sees 6.6pc GDP growth, troubled exports Bangladesh faces a year of slowing growth, partly caused by contraction in exports due to the eurozone crisis, an annual United Nations report warned yesterday. Economic growth may slow slightly to 6.6 percent in 2012 from 6.7 percent last year, the UN’s Economic and Social Commission for ... Read more
Stocks skyrocket as concern over legal battle eases
Dhaka stocks skyrocketed on Thursday after two days of sharp fall as one of the writ petitioners withdrew his case that was filed challenging the mandatory shareholding rule for listed company directors. DGEN, the benchmark general index of Dhaka Stock Exchange, gained 3.57 per cent, or 175.02 points, to close at 5,076.62 points
Stocks sink below 5,000pt as legal battle haunts investors
The general index of the Dhaka Stock Exchange on Wednesday plunged below 5,000 points again as investors, panicked by the legal battle over the minimum shareholding rule for the directors of listed companies, went for sell-offs amid fresh street protests. The DGEN, the benchmark index of the bourse, lost 3.32 per cent, or 168.68 points, ... Read more
Call for more allocation for social safety net programmes
Pre-budget discussion Call for more allocation for social safety net programmes Speakers at a pre-budget discussion on Wednesday urged the government to increase the budget allocation to social safety net programmes (SSNP) and ensure that it would be provided to poor people without corruption. They also called upon the government to formulate an integrated national ... Read more
Yunus, Abed talk garment exports with Hillary, seek free access to US
Nobel laureate Prof Muhammad Yunus and BRAC Chairperson Sir Fazle Hasan Abed yesterday urged US Secretary of State Hillary Clinton to allow Bangladeshi garments duty-free access to the US market to help create local jobs, especially for women. They met Hillary at a breakfast meeting at the US ambassador’s residence in
HSBC honours young entrepreneurs
A team of four budding entrepreneurs yesterday finished as toppers of HSBC Young Entrepreneurs Challenge, after their idea of producing capsule shells from fish fins and scales was rated as the best business concept. The team, called Fireflies comprising Makame Mahmud, Ayasha Sultana,
BTRC to retrieve Tk 2250cr bandwidth from cell operators
Bangladesh Telecommunication Regulatory Commission (BTRC) will be able to retrieve a total of 15 MHz of bandwidth worth Tk 2250 crore from different mobile operators after it completes the systematic re-arrangement of the bandwidth distribution in 1800 MHz band, sources at BTRC have said. 1800 MHz band is the portion of the radio frequency spectrum ... Read more
DBBL awards scholarships to 857 students
Ferdousi Kazal of Kurigram said her father walked out on her mother during her birth. Although it was too tough to bear the family expenses, her mother — a worker — never put a stop to her daughter’s study. Ferdousi is now a graduate student of science at the National Orthopaedic Hospital and Rehabilitation Institute ... Read more
Sluggish exports dim growth prospects in Bangladesh: IMF
Bangladesh’s economic growth will slow down to 5.9 percent in the current fiscal year, largely due to falling exports and sluggish investment, the International Monetary Fund said on Tuesday. The growth in gross domestic product will, however, make a comeback in the upcoming fiscal year, expanding at 6.4 percent, the IMF
RanksTel set for a comeback
After remaining switched off for two years, RanksTel has taken steps to resume its operations soon, the private land phone operator said in a statement yesterday. The operator has already started the re-registration process of its more than three lakh customers, according to the statement. “We developed our network in the last six months to resume ... Read more
Nippon Express sets foot in Bangladesh
A new logistics service provider — Nippon Express Bangladesh Ltd — started operations here on Tuesday, the company said in a statement. The company, a joint venture initiative of Japan-based logistic giant Nippon Express Co and Bangladesh’s Golden Harvest Logistic Ltd, will provide tailor-made services for exporters and
Latifur wins Business for Peace Award
Leading businessman Latifur Rahman has won the prestigious 2012 Oslo Business for Peace Award for maintaining commitment to social responsibility and ethical values. This is the first time a Bangladeshi businessperson has received the prize, which is considered the most celebrated recognition in the business world. An independent committee of Nobel Prize
An icon in ethical business
Corporate leaders congratulate Transcom Chairman Latifur Rahman on Business for Peace Award Corporate leaders yesterday praised Transcom Group Chairman Latifur Rahman as the pride of the business community as he won the prestigious Business for Peace Award 2012. The achievement will inspire local entrepreneurs to do ethical and responsible business, they said. Rahman has set ... Read more
Guidelines for small telecom operators set
BTRC to regulate value-added services to subscribers The telecom regulator has finally formulated a draft of ‘Telecom VAS Operator Licensing Guidelines’ to regulate small and medium telecom businesses providing different telecom Value Added Service (VAS) to the subscribers. A total of 30 companies have been providing different telecom VAS including ringtones,