Commerce ministry holds meeting today to discuss their demands The commerce ministry will sit with businesses and industries ministry officials today to discuss the demands of the country’s salt farmers, who are facing a loss of around Tk 200 crore due to resumption of salt import. Salt farmers have been demanding a ban on salt ... Read more
Business
Ericsson lights up off-grid Liberia, wins GSMA award
The community power solution of leading telecom technology provider Ericsson has received global recognition and won GSMA Global Mobile Award at the 2011 Mobile World Congress in Barcelona for best use of mobile for social and economic development, said a statement. The “Ericsson Community Power” solution was developed in partnership with Swedish green
Banks given June deadline to reduce credit growth
Bangladesh Bank on Sunday asked commercial banks to bring down the credit growth in line with their deposit growth by June. The central bank warned the banks that it would take stern actions against them if they failed to adjust the credit-deposit ratio
Dhaka stocks skyrocket for 2nd day
Share prices on Dhaka Stock Exchange skyrocketed for the second day on Sunday buoyed by a number of government measures to stabilise the market in the wake of two weeks of heavy slides and violent street protests. The general index of the bourse advanced by 463.27 points, or 7.81 per cent, on the day to
Sundarbans families get green ovens
MIDAS Financing Ltd and Management and Resources Development Initiative (MRDI) have distributed eco-friendly ovens among families in Bon Laudob village in the Sundarbans in a bid to help save the ecosystem of the forest. The joint initiative will use corporate social responsibility (CSR) funds as an alternative
Ctg trade fair kicks off today
The 19th Chittagong International Trade Fair 2011(CITF) begins today at the Railway Pologround to promote local products in the international market. Commerce Minister Faruk Khan is scheduled to inaugurate the month-long fair organised by the Chittagong Chamber of Commerce and
Govt to amend laws to stop forced share sales
Muhith says merchant banks must increase paid-up capital The government is going to amend the existing laws to restrain the merchant banks from forced selling of clients’ portfolios and to increase the amount of minimum paid-up capital set for the banks, finance minister Abul Maal Abdul Muhith said on Friday. ‘Forced selling is unfair. We ... Read more
Telenor crosses 100m mark in Asia
Norway’s Telenor Group now boasts over 100 million subscribers in Asia, achieving a milestone in business advancement in the region, said the world’s front ranking mobile operator yesterday. Sigve Brekke, executive vice president of Telenor Group and head of its Asian Operations, made the announcement at GSMA World Congress 2011 in
Stocks pass chaotic week
Govt sits with merchant bankers today The government sits today with merchant bankers to find ways to bring stability to the troubled stockmarket. The officials of the market regulator will also be present during the talks. The last week went through chaos, as the general index of the prime bourse plunged 9.21 percent amid credit ... Read more
Stocks jump on stimulus
Govt steps attract mixed reactions from experts The benchmark index of Dhaka Stock Exchange saw a 6.2 percent jump yesterday, boosted by a government initiative involving five state enterprises in share buying. Of the five institutions, Investment Corporation of Bangladesh (ICB) received a Tk 200 crore financial assistance from the central bank to buy shares ... Read more
Country’s mobile users cross 70m landmark
Number of the country’s active mobile phone users has crossed 70 million landmark at the end of January, 2011 but overall monthly growth rate slowed, state data revealed. Bangladesh Telecommu-nication Regulatory Commission (BTRC) on Tuesday released the monthly update of cell phone subscribers’ number, revealed that the country’s six operating mobile phone operators have
Flydubai launches new route
Dubai-based low-cost carrier Flydubai launched its new route from Dhaka yesterday, a new move to bring down the fares of flying to the United Arab Emirates for 700,000 Bangladeshi migrant workers. Flydubai, a sister concern of Emirates, earlier launched its operations in Bangladesh from Shah Amanat International Airport in Chittagong on January
NCC Bank reappoints MD
Mohammed Nurul Amin has been reappointed as managing director and chief executive officer of NCC Bank for the next three years, the bank said in a statement yesterday. He was first appointed to the post in 2005. A postgraduate in economics from Dhaka University, Amin started his career with Janata Bank as senior officer in ... Read more
DGEN slides below 6000 after 9 months
Persisting panic selling pressure dragged down the benchmark DGEN index below the 6000-mark yesterday, after nine months, adding further fuel to the protest fire that has already engulfed the streets for the last seven days. Thousands of small investors, fuming at the series of plunges in share prices, ran amok – clashing with policemen, setting ... Read more
Mobile operators lobby against telecom bill
Govt loses Tk 5000 crore in 15 yrs Mobile operators lobby against telecom bill Mobile operators have been maintaining a close lobby with the high officials of the telecom ministry and parliamentary standing committee on the ministry so that the proposed amendment does not come to an effect, sources said. “The proposed amendment to the ... Read more
Ctg SME fair kicks off today
The Small and Medium Enterprise (SME) Financing Fair-2011 begins today at the Engineers’ Institute, Chittagong. The fair, organised by SME Foundation in association with Bangladesh Bank, is expected to be opened by Dr Atiur Rahman, the central bank governor. The people interested in SME entrepreneurship will benefit from this exposition,
NRBs dream own business at home
A majority of the expatriate Bangladeshis living in the Gulf countries such as United Arab Emirates, Saudi Arabia, Kuwait and Bahrain want to start their own business upon returning home, a study revealed. A recent survey by Western Union on what the expatriates will do with 100,000 dirhams (Tk 20 lakh), if they win the ... Read more
New MD for BDBL
Md Zillur Rahman joined Bangladesh Development Bank Ltd (BDBL) as managing director on Sunday, the bank said in a statement yesterday. A postgraduate in management from Dhaka University, Rahman was the deputy managing director of Janata Bank prior to joining BDBL. He also obtained a PhD degree in
Sonali Bank inks pact with CityCell for broadband services
State-owned Sonali Bank, the country’s largest commercial bank, yesterday signed an agreement with mobile broadband service provider CityCell to avail the latter’s high-speed broadband services, to speed up remittances. Golam Anjumanarul Islam, head of business, CityCell and Sahid Hossain, deputy general manager (IT Division), Sonali Bank, signed the agreement at
Stocks plunge to nine-month low
Protests continue for sixth straight day Stocks continued their nosedive for the fourth consecutive session as the key index hit a nine-month low yesterday. At the end of a four-hour trading session, the benchmark index of the Dhaka Stock Exchange — DSE General Index — came down to 6,052 points, marking a sharp decline of ... Read more