HSBC Bangladesh has awarded five exporters in recognition of their contribution to promoting Bangladeshi goods abroad. The foreign bank handed over the “HSBC Export Excellence Awards 2010” to the winners at a gala ceremony at Sonargaon Hotel in the city on
Business
Country’s remittance tops $10.6b in 11 months
The country received $10.606 billion in remittance from expatriate Bangladeshis in 11 months of the current fiscal year. In May, the amount of inward remittance was $993.25 million, higher by $90.20 million of the remittance inflow in the same month of 2010 when the amount was
Stocks rebound strongly on govt, BB moves
Dhaka stocks rebounded strongly in the past week, showing signs of recovery from a prolonged depression as investors went into buying mood following a number of moves taken by the government and the Bangladesh Bank Market operators said the appointments of two more members to the Securities and Exchange
Experts lambast govt for apathy to mend stock meltdown
Experts on Wednesday came down heavily on the government for taking no steps at all to stabilise the country’s capital market, blaming its foot-dragging over reforming the Securities and Exchange Commission and indifference to re-infuse investors with fresh confidence for the continued reign of volatility over the market for five long
Govt plans to overhaul GB
14-pt blueprint to raise govt stake in Grameen Bank The government has planned to raise its stake in the Grameen Bank and establish control over its lucrative sister firms in a move that will transform the Nobel winning micro-lender into another state-owned bank. The finance ministry has outlined the plan in a 14-point blueprint, which ... Read more
Promising jute bag market seen in Europe
Bangladesh could a huge amount of money annually from export of jute bags the demand for which has been increasing in the world market. International Jute Study Group estimated that annual world demand for shopping bags is 500 billion pieces. Leading food retailers Tesco, the Co-operative Group, Sainsbury’s, Morrisons and
SEC gets new chairman
The government on Sunday appointed the Investment Corporation of Bangladesh chairman M Khairul Hossain as the new chairman of the Securities and Exchange Commission, withdrawing Ziaul Haque Khondker. Khairul Hossain, who was also a professor of finance at Dhaka University, joined SEC on Sunday
Dhaka low in social networking
Dhaka is among the three South Asian cities that are at the bottom of a ranking of networked society city matrix among 25 mega cities of the world. On the other hand, Singapore, Stockholm and Seoul are at the top of the ranking. A joint study conducted by mobile equipment vendor Ericsson and management consultancy
Paddy price declines by Tk 200 per maund in two weeks
Price of paddy or un-husked rice has declined by up to Tk 200 per maund in the last couple of weeks with increased supply in the market—thanks to a bounty of Boro harvest, but rice traders have not cut down the prices accordingly. Traders at the primary sources said the price might fall further as ... Read more
RanksTel, National Telecom to get back licences soon
The government eventually has decided to reissue licence to two among the five PSTN companies the operations of which were closed down by it in March last year for their alleged involvement in illegal VOIP business. The authorities have asked the telecom regulatory body to take necessary measures in this
DSE witnesses lowest turnover in 2011
Bearish trend at the Dhaka Stock Exchange (DSE) continued to affect the general investors for the fourth straight weeks amid lowest average daily turnover in this year till date through the much talked ‘Bangladesh Fund’ started its operation Thursday. “The largest ever mutual fund which was floated mainly to bring back stability in stock market
Bangladesh Fund floated
The much-talked-about ‘Bangladesh Fund’ entered the stockmarket formally on Thursday by purchasing shares of the state-run Titas Gas. The Securities and Exchange Commission (SEC), a day ago, approved the registration of Tk 5,000 crore fund
Banks’ liquidity marks a rise
Banks’ excess liquidity rose by Tk 3,000 crore within a month as they brought down their investment in the stockmarket and launched a drive to draw more deposits from clients. An increase in fund disbursement for the implementation of annual development programme (ADP) has also fuelled liquidity. The banks had excess liquidity of Tk 27,087 ... Read more
Telcos may see cut in spectrum fees
The telecoms ministry has proposed a revision in the spectrum charges for four mobile operators, by slashing the fees by more than Tk 4,000 crore from what the regulator had proposed earlier for their licence renewal. According to the new proposal by the telecoms ministry, the four operators
Bangladesh Fund wants to be lucrative
The Investment Corporation of Bangladesh (ICB) has sent a letter to the government, seeking some facilities for the Bangladesh Fund to make it lucrative for investment. “After scrutinising the proposals, the government will discuss it with ICB within a few days,” said a finance ministry official
HR outsourcing for a competitive edge
Mastering Management HR outsourcing for a competitive edge The Bangladesh economy is increasingly being integrated with the global economy because of trade liberalisation. Hence, the country’s corporate sector is facing cut-throat competition. They need to be more cost-effective and efficient to survive in a highly competitive world. Corporate Bangladesh, therefore, should emphasise developing its core ... Read more
GP revenue up 21pc in Q1
Grameenphone Ltd reported a rise in its revenue by 21.3 percent in the first quarter of 2011 from the same time last year. The telecom operator recorded revenue of Tk 2,067 crore for the first quarter of 2011 — a Tk 363 crore rise from first quarter of 2010, Grameenphone declared at a press conference ... Read more
Sheraton packs up
An official of Ruposhi Bangla explains why A lack of trust widened the rift between the government and Starwood Hotels and Resorts, leading the international hotel chain to fold its Dhaka Sheraton operations, an official said Saturday. “Disagreement between Starwood and the government over such issues as renovation costs or deadlines was not the main ... Read more
Banking Division offers recipe for stockmarket
The Banking Division of the finance ministry has recommended 11 steps to the government as measures to curb stockmarket manipulation. The recommendations were based on a review of a report submitted by a stockmarket probe committee. According to the Banking Division, a law should be in place to regulate the issue of preference
Denim, knitwear makers losing business
Erosion in their market competitiveness blamed The country’s textile and apparel industries are set for a rough ride as they are seeing many of their supply orders being diverted to China, Pakistan, and other countries due to an erosion in their market competitiveness, industry insiders said. Both the fabric and ready wear manufacturers have been ... Read more