Business

CHITTAGONG, Nov 26: Bangladesh’s leading ship building company, Western Marine Shipyard, delivered today two ocean-going vessels to its German owner, Grona Shipping GmbH Co KG. Saiful Islam, chairman of Western Marine Shipyard finally delivered the twin vessels – Grona Ammersum and Grona Biessum – the ever-largest ships built by a Bangladeshi company to

MJL to raise Tk 609 crore The Securities and Exchange Commission on Thursday approved Mobil Jamuna Limited Bangladesh’s Tk 609 crore initial public offering, the biggest ever IPO in the country’s capital market. The commission, at a meeting presided over by its chairman Ziaul Haque Khondker, also approved IPOs of MI Cement and Salvo Chemicals ... Read more

Dhaka stocks continued bull run on Thursday crossing 8,700-point mark led by mutual funds and banking and insurance issues, market operators said. The benchmark general index of the Dhaka Stock Exchange advanced by 48.18 points, or 0.56 per cent, to close the week at 8,721.09 points on

Western Marine Shipyard of Chittagong will deliver two vessels, the largest-ever built in Bangladesh, to a German shipping company today. Each of the vessels, christened Grona Ammersum and Grona Biessum, is 100 metre long and has a 5,200 deadweight tonnage carrying

The least developed countries should strive to attract domestic investors and the diaspora, develop capital market and formulate public private partnership initiative instead of looking to the declining foreign direct investments, economists said yesterday. They made the observations at the second working session styled ‘Promoting

Coins of Tk 1 denomination are sold for prices between Tk 5 and Tk 300 as a rumor ran high that an increase in copper prices on the international market might push the value of the copper coins. Law enforcers said some gangs were spreading rumors that the

Germany has suggested a reliable and sustainable legal framework in Bangladesh to attract foreign direct investment and setting up a special economic zone (SEZ) here for its entrepreneurs. “There is ample scope for overseas, especially German investment in Bangladesh,” said Martin Biesel, German federal foreign office state secretary

Business environment in Bangladesh is strong but good governance and legal framework are needed to attract foreign investment, a German state secretary observed yesterday. Foreign businesspersons are careful with money but not shy to invest, Martin Biesel, state secretary of the Federal Foreign Office of Germany, told a gathering at

Dhaka stocks on Wednesday crossed the 8,600-point mark for the first time ever on heavy buying by investors of high-profile shares that saw their prices slide in the previous two trading days following the SEC directive on margin loan ratio. The benchmark general index of DSE advanced by 118.09 points, or 1.38 per cent, to ... Read more

Bangladesh’s largest fair for the apparel sector starts today. The three-day textile exposition, Batexpo-2010, will be organised at Bangabandhu International Conference Centre in the capital by Bangladesh Garment Manufacturers and Exporters Association. At a press briefing yesterday at BGMEA office, its President Abdus Salam Murshedy said the fair

International restaurant chain KFC has decided to attach its previously launched drink Krushers to its regular menu, said a statement. The drink in five flavours was launched last month on a limited scale to measure the market potential, the statement added

GP loses 1.67 lakh subscribers The growth in the number of mobile subscribers slowed down in October as the country’s six operators added only 4.23 lakh subscribers, while Grameenphone, the leading operator, lost 1.67 lakh subscribers. The total number of active mobile subscribers increased to 65.56 million or around 6.56 crore at the end of ... Read more

VoIP offenders punished: CEO Visiting Telenor Group president and chief executive officer Jon Fredrik Baksaas on Tuesday urged the government to create an environment favourable for introducing third generation mobile phone technology as its local operator GrameenPhone was ready to adopt it. ‘We have been engaged for years in connecting peoples through different telecom services. ... Read more

The Nordic Chamber of Commerce and Industry was launched in Dhaka on Tuesday with great optimism that trade and investment relations between Bangladesh and the north European countries would further boost in the days ahead. At the launching ceremony, held at Westin Hotel, Norway’s environment and

The government in principle decided to invite expression of interest from interested private investors to develop Hi-Tech Park at Kaliakoir in Gazipur district. It has been decided that the park will be developed on a public-private partnership basis and advertisement in this regard would be given in

The Securities and Exchange Commission, in a move to cool down the overheated market, decided on Sunday that investors from now on would get margin loans at the ratio of 1:0.5 instead of 1:1, said SEC executive director Forhad Ahmed. The capital market watchdog directed the merchant bankers and stockbrokers to implement the

Telenor Group President and Chief Executive Officer Jon Fredrik Baksaas will arrive in Dhaka today on a three-day visit. He will join the inauguration of Grameenphone’s newly built head office GPHouse, said a statement. During his stay here, he will also meet with Finance Minister AMA Muhith and other senior

Nordic companies in Bangladesh will launch the Nordic Chamber of Commerce and Industry (NCCI) tomorrow to form a platform in an effort to promote business between the Nordic countries and Bangladesh. The chamber aims to improve the business and ethical environment and safeguard new business opportunities

The Investment Promotion and Financing Facility (IPFF) cell of Bangladesh Bank has so far financed Tk 422.30 crore in seven private power plants through its nominated banks and financial institutions since the cell’s inception 4 years back, said the central bank governor. “These projects generated 178-megawatt power, which was subsequently added to the

India’s mobile operator Bharti Airtel, which recently acquired 70 per cent of the stakes of Warid Telecom in Bangladesh, is set to change the brand name of Warid to ‘airtel’ in December, Indian media reported.  Bharti officials in New Delhi on Thursday unveiled a new logo of the company, an artistically written small ‘A’ above ‘Airtel’ ... Read more