Business

Each country to set up two markets once a week The Cabinet on Monday approved the Memorandum of Understanding and Mode of Operation that Dhaka is expected to sign with New Delhi for setting up border markets. The commerce ministry placed the proposal for the operation of four markets initially on the frontier at the ... Read more

The central bank has given all banks directives to go by educational criteria in recruiting members of their staff. In a circular yesterday, Bangladesh Bank (BB) said it found some banks not complying with the criteria with regard to traditional and GPA (grade point average) evaluation systems. Asking the banks to strictly follow the education ... Read more

Despite a fall in migrant movement to the Middle East, revenues of Dubai-based carrier Emirates from Bangladesh were not affected as it banked more on travellers to long-haul destinations, Europe and the US, an official said yesterday. “We witnessed a huge pressure of labour traffic in 2008. But when travel by migrant workers

German fashion and lifestyle company s.Oliver yesterday opened its new office at Gulshan to strengthen outsourcing from Bangladesh. s.Oliver’s Asian Chief Operating Officer Bernd Hanemann said his company has been expanding business in Bangladesh because the country has a reputation of producing quality clothing

Bangladesh Bank will introduce a two-taka metal coin Tuesday with the pictures of Bangabandhu Sheikh Mujibur Rahman along with national flower Shapla (water-lily). According to a competent source, initially the coin will be released from the head office of the central bank, and it will be available at other branches

Dutch-Bangla Bank Ltd (DBBL) has launched its 1000th ATM at the factory premises of the GlaxcoSmithKline Bangladesh Ltd., Fouzderhat Industrial Area, Chittagong. Sayem Ahmed, Chairman of the Executive Committee of the Board inaugurated the 1000th ATM by drawing money from the ATM using DBBL Nexus Card on Sunday. The Chairman in his speech extended his ... Read more

Robi Axiata Ltd, a leading mobile phone operator of the country, has launched its career website at a hotel in city on Sunday. The career portal will facilitate potential applicants to apply for any new job offered by Robi. “The career portal will serve as a bridge between the employment seekers and the management to ... Read more

Availability of housing finance in Bangladesh is increasing but only for the high-income groups, World Bank said, suggesting policy reforms for ensuring access of the lower-income people to housing finance. Less than 10 per cent of the potential borrowers have access to housing finance, said World Bank in its report titled ‘Expanding Housing Finance to ... Read more

United Airways (BD) Ltd has strengthened its fleet by adding two aircraft last week to cement its foothold on domestic and international aviation market. The size of the airline’s fleet has now been raised to six from four. “The measures we’ve taken are aimed at expanding our network as well as ensuring

Facilities offered for businessmen, private firm staff The City Bank introduced American Express Corporate Cards in Bangladesh yesterday, targeting a growing number of business travellers. The Amex Corporate Card and Gold Corporate Card, the latest in American Express credit cards, which were launched in the country earlier, offer a range of payment and transaction

Yet to make cars, Bangladesh is set to enter the global automotive industry by hosting a Draxlmaier lab for designing interior facilities for top brands like BMW, Mercedes and Cadillac. World’s leading suppliers to auto industry, Dräxlmaier Group decided to set up it’s a state of the art design lab in Dhaka, the company’s first ... Read more

DSE crosses 7,400-point mark The government is planning to invest the employees’ provident fund in the local bond markets to increase the balance of the funds, officials of the finance ministry have said. They said the balance of the provident fund declined to around Tk 260 crore at the beginning of the current financial year ... Read more

Bharti Airtel has said it has selected Swedish telecom equipment-maker Ericsson and Huawei from China as vendors to deploy, expand and manage its mobile network in Bangladesh. It was announced at a press conference held in the city yesterday. High officials of Bharti Airtel and Warid Telecom were present at the

The last date for the submission of tax returns ended yesterday as the government refused to extend the deadline. About nine lakh people have submitted tax returns this year, up nearly 18.9 percent from last year, according to the officials of the National Board of Revenue

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and Spanish retail giant Inditex have jointly opened a testing laboratory at the BGMEA office in Dhaka to conduct chemical and dye tests of exportable clothing items. Inditex will provide technical supports for setting up the lab, which will go into

The Hongkong and Shanghai Banking Corporation (HSBC) Ltd in Bangladesh is organising a two-day long ‘Home Loan Fair” at Sheraton Winter Garden from 8 to 9 October 2010, in association with some of the leading real estate companies of Bangladesh. A few renowned home appliances and home decor solution providers are also participating

Bay Leasing and Investment Ltd has appointed Iftekhar Ali Khan as its managing director recently, says a statement. Prior to joining Bay Leasing, he also served a Singapore based finance company as country head. Starting career with ANZ Grindlays Bank, Khan joined Standard Chartered Bank in 1994 as

Brokerage firm IDLC Securities Limited, a subsidiary of IDLC Finance Limited, recently opened its 9th branch at sector 4 of Uttara in Dhaka. IDLC Finance chairman Anwarul Huq and chief executive officer and managing director Selim RF Hussain, also chairman of IDLC Securities, inaugurated the branch, said a

Bank Asia held the 5th meeting of its Shariah council at the bank’s board room at Motijheel in Dhaka on Monday. Muhammad Mustafizur Rahman, a member of the Shariah council of the bank, presided over the meeting, said a news

Dhaka stocks rose for the 10th session, taking the key index to a new high. The DSE General Index, the benchmark index of the Dhaka Stock Exchange, reached a peak of 7,412 points, yesterday gaining 85 points, or 1.16 percent. Stockbrokers however were worried about the rising trend, which in their view is