MM Haikal Hashmi has joined Trust Bank as deputy managing director, the bank said in a statement yesterday. Prior to the appoin-tment, he was the senior executive vice president and head of credit risk management of Dhaka Bank. Hashmi also served Credit Agricole Indosuez, ANZ Grindlays Bank, Standard Chartered Bank, American Express Bank and Mashreq ... Read more
Business
Muhith sees stable stock market by this week
Finance minister Abul Maal Abdul Muhith on Tuesday said stability would return to the capital market in this week after the government completed implementing the decisions taken towards that end. ‘Normalcy would return after implementation of the decisions we have taken. It might take a little time… [But] It’s not wise to change decisions repeatedly,’ ... Read more
Govt assurance, institutional investors’ return help DSE make magic rebound
Dhaka stocks on Tuesday made a dramatic turnaround on the finance minister’s remark that the capital market would be stabilised this very week and some institutional investors’ re-entry into the market, analysts said. Heavy buying of shares by different government agencies like the Investment Corporation
Mobile operators: Strict rules to bar stock listing
Mobile operators yesterday said unfriendly telecom regulations will restrict them to go public. Senior officials of leading mobile operators said their plan to be listed on the stockmarket will be uncertain, if their growth is hindered due to unfriendly telecommunication rules. “Nobody will buy our shares if we continue to incur losses,” said Robi CEO ... Read more
US Trade Show opens tomorrow
The 20th annual US Trade Show begins at Dhaka Sheraton Hotel tomorrow, the American Chamber of Commerce in Bangladesh told a media conference on Tuesday. A number of new companies and a delegate of 18 members of the AmCham India will participate in the three-day show
Telcos demand equal licence fees
Four major mobile operators yesterday urged the government to rationalise their licence renewal fees to help the sector grow. They also demanded a flat rate of fees for spectrum acquisition. Grameenphone, Banglalink, Robi and Citycell that control 92 percent of the country’s
Adfest kicks off tomorrow
A daylong advertising festival titled Third Dhaka Advertising Festival-2011 is set to start in Dhaka tomorrow to promote local advertising industry at Bangabandhu International Conference Centre. The Advertisement Club, a platform of the sector professionals, is organising the show carrying the theme ‘Advertising- Redefined’, said a member of the club at a press meet in
City Bank gets new AMDs
City Bank has appointed Sohail RK Hussain and Ehsan Khasru as the additional managing directors of the bank recently, said a statement. Sohail RK Hussain was the deputy managing director and head of business of the bank prior to the promotion and he has been with the bank since
Exports post robust growth
Bangladesh registered almost 40 percent growth in exports in the first seven months of the current fiscal year, compared to the same period a year ago. According to the Export Promotion Bureau (EPB), the country exported goods worth $12.18 billion during July-January of fiscal 2010-11, up from $8.7 billion during the same
Investment scenario remains depressed
The investment scenario in the country remained depressed during the second quarter (October-December) of the current fiscal year, but the situation is improving steadily this quarter, said the Metropolitan Chamber of Commerce and Industries in its quarterly economic review on Monday. ‘[But] the acceleration of growth would depend on a speedier implementation of the
New chairman for Expatriate Welfare Bank
Expatriates Welfare and Overseas Employment Secretary Jafar Ahmed Khan has been appointed chairman of the board of directors for Expatriate Welfare Bank, says a statement of the government’s information department. A circular issued by the banking and financial institution division under the finance
Mitsubishi global chief due in town
Global President of Mitsubishi Motors Corporation Osamu Masuko is scheduled to arrive in Bangladesh for a three-day visit today, Rangs Group said in a statement yesterday. Masuko will meet Industries Minister Dilip Barua, Chairman of Rangs Group Abdur Rouf Chowdhury and different high officials of the government
Frequent changes in directives unnerve investors: experts
Frequent changes in the directives by the stock market regulators and a decreased participation of large and institutional investors have resulted in the current crisis in the Dhaka bourse which collapsed again on Sunday, analysts said. They said a section of institutional investors, who had already taken away from the market
GMG increases flights from Ctg to Kolkata
Private carrier GMG Airlines has increased flight frequencies on Chittagong-Kolkata route recently, GMG said in a statement yesterday. The daily flights will start from Shah Amanat International Airport in Chittagong to Netaji Subhash Chandra Bose International Airport in Kolkata. Earlier there were three flights a
Local e-payment solutions frustrate tech-enthusiasts
Technology enthusiasts expressed disappointment over the absence of a true electronic payment mechanism in the country and expressed skepticism over reaching the lofty target of billion dollar outsourcing business by 2015. They expressed their concern while visiting SoftExpo 2011 Friday, watching some
BTRC under pressure to reduce fee
Mobile phone companies are putting pressure on Bangladesh Telecommunication Regulatory Commission to reduce the fees they must pay to obtain a renewal of its licence, according to BTRC officials. The BTRC has published a draft guideline concerning the renewal of the 2G mobile licences of four mobile operators — Grameenphone, Banglalink, Robi and CDMA operator ... Read more
SIM tax weighs down telecom growth: analysts
The tax on new mobile connections is the main constraint to achieving the government’s vision of a ‘Digital Bangladesh’, said the head of the parliamentary standing committee on telecom ministry yesterday. “The Tk 800 tax on SIM cards is inhumane, and it should be removed,” said Hasanul Haq Inu, addressing a seminar, Telecom for the Common ... Read more
DSE finishes up in volatile trading
Dhaka stocks edged up on Wednesday in choppy trading as investors became jittery again because of a fresh liquidity crisis and the market regulators’ two latest directives on margin loan and face value of securities, market operators said. The benchmark general index of DSE had a bumpy ride on the day and finished up by
New chief for UCB executive committee
MA Sabur, sponsor director and former chairman of United Commercial Bank, has been elected chairman of the bank’s executive committee, says a statement yesterday. The bank’s Board of Directors at its 312th meeting on Tuesday unanimously elected Sabur. He is the founder managing director of Maxim Ltd and chairman of Masco Group and
BRMA elects top brass
Mohammad Ali has been elected chairman of Bangladesh Re-rolling Mills Association for 2011-13, says a statement yesterday. Ali is the owner of Fatullah Steel Re-rolling Mills. The executive committee election of the trade body took place in Dhaka recently