Business

DSE Weekly review Dhaka stocks passed another bearish week with the turnover and benchmark general index of the bourse falling heavily as the nervous investors went for huge selling following volatility in the money market over liquidity shortage. The average daily turnover at Dhaka Stock Exchange fell by 32.24 per cent in the past week

A three-day information and communication technology (ICT) fair will be held at Woodland Park at Sholashahar in Chittagong on December 22-24. Inpace Management Services Ltd is organising the fair, `Banglalion Chittagong Digital Expo-2010′. Banglalion Communications Limited (BCL), a leading broadband wireless access operator of the

North South University has become the winner and champion of BrandWitz, a marketing competition. Institute of Business Administration, Dhaka University (IBA-DFS) was the first runner up and Institute of Business Administration, Dhaka University (IBA-SITH) Group was the second runner up, said a news release. The topic for the final was: ‘Branding Bangladesh through World Cup ... Read more

Economists warn of adverse impacts on investment The inter-bank call money rate on Wednesday skyrocketed to 175 per cent as banks and non-banking financial institutes scampered to submit cash to the Bangladesh Bank to fulfil their cash-reserve ratio. Economists warned that the economy would be affected severely if such volatility in call money rate continued. ... Read more

Bangladesh to get $1b from lending agency The International Monetary Fund (IMF) wants Bangladesh Bank (BB) to seriously address concerns with the commercial banks’ over exposure to the stockmarket. “We hope Bangladesh Bank will work diligently to ensure that banks and their subsidiaries take necessary action to mitigate the risks from stock market volatility,” said

The Dhaka Stock Exchange on Wednesday posted the lowest turnover in the past three months due to a low liquidity inflow as institutional investors went for bulk sales of securities. The daily turnover on the bourse was Tk 1,269.94 crore, down by Tk 287.16 crore from that on Tuesday. The DSE turnover had dropped to ... Read more

Leading banker and economic analyst Mamun Rashid is leaving Citi Bangladesh after spending nine years at the global financial services company. “I will be on the company’s payroll until March 31, but will be on leave,” said Rashid, the first Bangladeshi to become the chief executive for the

Grameen Healthcare Trust yesterday went into a joint venture agreement with Uniqlo Social Business Bangladesh Ltd, the social business division of Japan’s leading clothing retailer Uniqlo. The venture aims to establish a new social business in the field of ‘functional clothing’, with a focus on healthcare, for the poor in Bangladesh, said a

The Hongkong and Sanghai Banking Corporation Limited on Wednesday launched Amanah, the bank’s Shariah-compliant financial services unit, in Bangladesh. HSBC officials at a news conference in a city hotel also announced the launching of a flagship Amanah branch in Gulshan and the entire range of products to be

UAE-based RAK Airways plans to resume flights from Bangladesh today. The flights were suspended from December 2008 because of the global recession and a shortage of aircraft. “We have come with better preparations to satisfy our travellers,” said Maqsoodul Haque, general manager of Mohammed Aviation Agencies, a general sales agent for

The Standard Bank Limited opened its 55th branch on Ganeshtala Road in Dinajpur on Wednesday. Chairman of the board of directors of the bank Kazi Akram Ahmmed inaugurated the branch. Standard Bank vice-chairman Ferdaus Ali Khan was also present on the occasion as special guest while SA Farukee, managing direction of the

IFIC Bank opened its 93rd branch at Setabganj of Bochaganj upazila in Dinajpur on Wednesday. Executive vice-chairman of IFIC Bank’s managing board Sheikh Farid Al Mahmud inaugurated the brach as chief guest. Al Helal chowdhury, manager of the branch, chaired the inaugural function. Local

BRAC EPL on Tuesday opened a new branch at Chowhatta in Sylhet. Sylhet mayor Badar Uddin Ahmed Kamran inaugurated the branch as chief guest, said a news release. BRAC Bank managing director Syed Mahbubur Rahman, BRAC Bank chief credit officer Nabil M Rahman, BRAC EPL vice-chairman Saiful Islam and BRAC EPL Investments Limited

Investors continue panic selling The benchmark index of Dhaka Stock Exchange on Sunday suffered a record plunge of 284.78 points as small investors rushed to sell off securities in the wake of most of the institutional investors withdrawing their investments from the capital market. The DSE general index fell by 3.31 per cent to close ... Read more

Telecom operator Robi said yesterday it might have to backtrack on the plan of an initial public offering (IPO) in the near future if the company is to pay huge sums on licence renewal. Robi has seen its revenue jump to record levels in the third quarter of 2010, but it fears a return to ... Read more

Samsung Electronics, a global leader in mobile technology, launched its latest smartphone Galaxy Tab in Bangladesh yesterday. Galaxy Tab is the first of the company’s tablet devices, combining smartphone and netbook packed with solid business features and vast multimedia

Eastern Bank Limited has launched a new product for non-resident Bangladeshis which will enable them to invest in the capital market of Bangladesh through a beneficiary owner’s account which will be funded by non-resident investors taka account. Ali Reza Iftekhar, managing director and chief executive officer of the bank, launched the new

Bangladesh Brand Forum organised a conference ‘Meet Bangladesh’ in London on November 26 and 27 to present to British and British Bangladeshi investors sectors including energy, power, infrastructure, garments and textile, ceramics, furniture, pharmaceuticals, capital market, tourism, ICT potential for investment. The two-day event also had a showcase of Bangladeshi business in

Bangladesh Carbon, an initiative of Rahimafrooz Renewable Energy, recently signed a clean development service agreement with textile company Noman Group. Under the agreement, Bangladesh Carbon will act as specialised CDM project developer and help ensure carbon revenues from various carbon emission reduction initiatives of

The quantity of this season’s tea production is likely to fall slightly, said the Bangladesh Cha Sansgsad. ‘We think the output of tea will remain almost the same as last year or a little less,’ a top member of the growers’ organisation told New Age. The tea plucking season starts in March and ends in ... Read more