Business

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

Nepal will host the five-day 10th Saarc Trade Fair that will begin on December 15 in Kathmandu aiming to boost regional cooperation in trade, tourism and culture. The fair with the motto ‘regional prosperity through trade’ is expected to boost trade among the eight member countries in South Asia and help promote

The stockmarket passed a dramatic last week with an unprecedented upheaval in the premier bourse’s key index in the history of Motijheel financial district. The main gauge of Dhaka Stock Exchange touched the highest ever level of 8,918 points on the opening session of the week, but dropped like a stone

The six-day National Furniture Fair 2010 in the city witnessed a large number of buyers and visitors on the concluding day on Saturday. The fair, organised by the Bangladesh Furniture Industries Owners’ Association, began at the Bangabandhu International Conference Centre in the city on

Pizza Hut yesterday announced a 20 percent discount on its six ‘king-size’ meals, an exclusive menu for Visa card holders. “As a global initiative of Pizza Hut, any customer paying by Visa debit or credit card will avail themselves of the discounts up to 20 percent,” said Akku Chowdhury, executive director of

Speakers at a workshop in the city yesterday called for gradual adoption of the latest internet protocol IPv6 to cope with the increasing size and coverage of internet technology globally. The latest version of the internet protocol technology, more popularly known as IPv6, has already been adapted in a number of developed economies and has ... Read more