After a gap of 29 years, InterContinental Hotels Group (IHG), a leading global hotel chain, has agreed to take over the operations and management of Ruposhi Bangla Hotel in Dhaka, officials said yesterday. At a ceremony today, the UK-based hotel group will sign a deal with Bangladesh Services Ltd (BSL) that owns Ruposhi Bangla, one ... Read more
Business
Telcos puzzled by regulator’s new letter
Licence Renewal Fees Telcos puzzled by regulator’s new letter Four mobile telephone operators are confused over a letter from Bangladesh Telecommunication Regulatory Commission that asked them to pay a due amount and late fees for licence renewal. The BTRC on Wednesday asked Grameenphone, Banglalink, Robi and Citycell to deposit a combined amount of Tk 857.46 ... Read more
Nano to be launched in Bangladesh this month
Nitol Group, distributor of Tata Motors in Bangladesh, will start marketing the Nano car this month. “We will import 100-200 cars and move forward depending on market demand,” said Abdul Matlub Ahmed, chairman of Nitol. One of the smallest as well as lowest powered (624cc) cars in the world, the Nano was
Eskayef beats rivals in sales growth
Eskayef Bangladesh Ltd, one of the fastest growing pharmaceutical companies in the country, posted nearly 25 percent growth in sales last year, the highest in the industry, riding on products innovation and aggressive marketing. In 2001, the healthcare solution provider sold medicines worth Tk 451 crore, up
BASIS SoftExpo on Feb 22-26
SoftExpo 2012, the largest exposition of software and ICT enabled services (ITES) will be held on February 22-26. Bangladesh Association of Software and Information Services (BASIS), the organizers of the show announced that the event will take place at Bangabandhu International Conference Centre in the capital. The theme for this year’s softexpo’s is ‘Empowering Next ... Read more
New CEO for HSBC
The Hong Kong and Shanghai Banking Corporation (HSBC) has appointed Andrew Tilke as the chief executive officer of HSBC Bangladesh, effective from today. Tilke joined HSBC Group in 1983 and has worked in a variety of roles in Europe and the Asia-Pacific region, the bank said in a statement yesterday
Rahimafrooz gets nod to launch unit in India
Battery maker Rahimafrooz eyes a big jump in sales in the Indian market as the company won a battle to set up a subsidiary in the neighbouring country, a senior official of the company said yesterday. Rahimafrooz had long been lobbying with the Indian government for getting approval from the central government to set up ... Read more
Tourism info on fingertips
The Bangladesh Parjatan Corporation (BPC) yesterday signed a contract with SSL Wireless to provide tourism related services via mobile phones aiming at promoting tourism in the country. Asmaul Hossain, general manager for public relations and admin of BPC, and Anisul Islam, general manager of SSL, inked the deal at Hotel Obokash, BPC said in
Mobile users now 8.5 crore
The number of mobile subscribers crossed the 8.5 crore mark in December last year, a 24 percent rise from the same month a year ago. At least 1.64 crore new users were brought under the mobile network in the last one year. According to the website of Bangladesh Telecommunication Regulatory Commission, the
Banks’ profits go up despite stock debacle
Private commercial banks weathered a steep downswing in the stockmarket last year to continue their profit growth. Many thought that the banks’ operating profit would come down due to the debacle in the stockmarket, as the key index of the Dhaka bourse plunged by around 37 percent in the year. But the banks proved them ... Read more
e-banking rides high on IT
The financial sector made remarkable progress in adopting electronic forms of payments instead of traditional paper-based ones in the just concluded year. The use of debit card, credit card, automated teller machine (ATM), internet banking, mobile banking, automated cheque processing and credit information system increased significantly
Second undersea cable to come in three years
The country is going to see the second international submarine cable within three years as the state-owned Bangladesh Submarine Cable Company Ltd (BSCCL) has recently signed a deal to join a consortium of more than 16 countries. The project of the consortium styled SEA-ME-WE 5 (South East Asia-Middle East-West
Bleak weather for realtors
Looking Back Bleak weather for realtors Muzzamel Haque booked an apartment two and a half years ago, with hopes of taking delivery in May 2012. It would end his stay for two decades in a rented home with his family. His aspirations now hang in the balance. The stockmarket debacle that began in January this ... Read more
15 new securities enter stockmarket
Fifteen new securities found their way into the stockmarket this year, up from 13 last year, although the market showed clear signs of volatility in 2011 with twin price debacles. Eight equity securities, six mutual funds or investment securities and a convertible bond came to the stockmarket, according to data from Dhaka Stock Exchange. The ... Read more
Mobile operators’ infrastructure sharing at stake
A regulatory move is holding back mobile operators’ infrastructure sharing business with other service providers. According to a decision of the regulator, the mobile companies will now have to share their network through a common network. Also, the mobile operators will not be allowed to do such business in the areas where
Tiger Airways to fly Singapore-Dhaka from March
Singapore’s low-cost carrier Tiger Airways will start direct service between Singapore and Dhaka from March next year, Channel News Asia reported Wednesday. The first flight will take off on March 9, 2012. It will be the first regional low-cost carrier to fly from Singapore to Bangladesh’s capital
REHAB fair abuzz with visitors
Hundreds of people thronged the housing fair at Bangabandhu International Conference Centre in Dhaka yesterday, although the venue was open to customers only for four hours for the best bargains. Braving cold weather, prospective buyers of plots and apartments queued at the entrance of the fair in the evening after the third day of the ... Read more
Yunus Centre opens at Turkey’s Okan University
Turkey has launched “Muhammad Yunus International Centre for Microfinance and Social Business” at Okan University in Istanbul to provide a platform for addressing development challenges faced by Asia. The centre, the first of its kind in the country, is expected to be a hub of research and practical applications as well as hands-on training for ... Read more
Bangladesh on firm footing in global remittance: WB
Bangladesh has emerged as the eight largest remittance earner, riding on the back of migration in flocks to the Middle East, according to a global survey by the World Bank. Migrant deployments from Bangladesh grew strongly this year, the global lender said in its report after conducting the survey last week
ICMAB awards best corporate players
The Institute of Cost and Management Accountants of Bangladesh (ICMAB) yesterday awarded 23 financial institutions, insurers and pharmaceuticals and telecoms companies for their efforts to establish corporate governance in their entities. Finance Minister AMA Muhith gave away the ICMAB Best Corporate Award 2011 at a