Business

BRAC Bank opened a new branch at North Gulshan in the city on Tuesday. BRAC founder and chairperson Fazle Hasan Abed inaugurated branch in presence of the bank’s chairman, Muhammad A (Rumee) Ali, said

City Bank American Express Lounge was launched at Hazrat Shahajalal International Airport on Tuesday. The lounge, to be managed by Dhaka Sheraton Hotel, will cater the American Express Gold Credit Card members provided facilities like complementary food and beverage and Wi-Fi internet access and other

Clients of banks will get their cheques cleared within one working day as automated clearing houses will be introduced across the country on November 1 and machine-readable cheques will be in place by the time. The traditional cheques take at least three days to be

A three-day bank and financial institutions fair begins at Dhaka Sheraton Hotel in the city on Thursday. Dhaka Sheraton Hotel will organise the fair, said the officials on Monday. At a news conference at the hotel, the officials said 26 banks and financial institutions had

Samsung yesterday came up with two new smartphones. The sets — Samsung Galaxy S and Samsung Wave — are priced at Tk 46,900 and Tk 32,500. Users will experience better mobile usage through the 4″ WVGA Super AMOLED display in Galaxy S, said Kanghyun Lee, managing director of

Tailoring shop owners said the nearly four-fold increase in the value added tax on their income is set to ruin the industry already facing disparate competition from the increased sales of low-price readymade clothes trickled out of export oriented garments

Power crisis hindering economic growth: BB governor Bangladesh Bank governor Atiur Rahman on Saturday said power and energy crisis was creating obstacle on the way of targeted economic growth of the country. The country can achieve two per cent more economic growth if sufficient energy and

Indian handset maker Micromax has set foot in Bangladesh by launching a series of mobile sets. Reach Distribution Ltd, a sister concern of Giant Group in Bangladesh, will distribute the handsets through more than 2,500 sales outlets. Micromax launched 12 models — nine GSM and three CDMA — priced between Tk 2,000 and

RB Group, an electronics maker, has moved to export refrigerators and other items to the US. “We have already registered a window office in the US to market our products,” RB Corporate Communications Director Mizanur Rahman told the news agency

 Hundreds of distressed females, who lived in utter miseries due to abject poverty some years back, are now changing their fate and achieving self-reliance by earning wages as plucking workers in the growing tea sector of Panchagarh. Because of the economic well being of the distressed women, the overall socio-economic

Dhaka stocks passed a bearish last week, mainly due to regulatory intervention in the market. The week-on-week benchmark index of Dhaka Stock Exchange — DSE General Index — declined 123 points, or 1.91 percent, to 6,309. Analysts said the market lost the momentum that prevailed the previous week, as the

A two-day exhibition titled Bangladesh Clothing Show 2010 will begin on September 27 in the United Kingdom with a view to expand the country’s apparel market. A key component of the exhibition will be to demonstrate Bangladesh suppliers’ active

Eastern Bank Limited signed a memorandum of understanding with some student counselling agencies at Sonargaon Hotel in Dhaka recently. EBL deputy managing director and consumer banking head Mamoon Mahmood Shah signed the memo with the heads of the 45 student counselling agencies, said a

Bangladesh and Nepal finalise modalities Bangladesh and Nepal have finalised the modalities of putting a decades-old transit agreement into operation. The governments have to ratify the modalities to allow Nepal to use Bangladesh’s Mongla Port, which is more convenient for the South Asian neighbour than the Kolkata Port it uses now for

The Power Development Board on Thursday signed contracts with two companies, one of them operated by Bangladesh Army, to purchase electricity from two unsolicited rental 50MW power plants. As per the contract, the Bangladesh Diesel Plant Ltd, an enterprise of the army, will set up a

Stocks closed the last trading session of the week nearly flat amid choppy trading, as investors were gripped with volatility fears over the market regulator’s latest move on portfolio statements of big individual investors. The benchmark index of Dhaka Stock Exchange — DSE General Index — rose 4.56 points, or 0.07

ONE Bank Limited celebrated its 11th anniversary at its corporate head office in Dhaka on Wednesday. Bank’s chairman Zahur Ullah, vice-chairperson Farzana Chowdhury, directors Asoke Das Gupta and Mohammad Idris, managing director Farman R Chowdhury cut a cake to mark the day, said a

Bangladesh has sought assistance from the Asian Development Bank (ADB) to generate 500 megawatts of solar power by 2012. This was disclosed by Dr Tawfiq-e-Elahi Chowdhury, the prime minister’s adviser for energy, at a

The much talked about international trade fair organised by Sylhet Chamber of Commerce and Industries (SCCI), finally started on Wednesday. Commerce Minister Faruk Khan formally inaugurated the Sylhet 12th international trade fair.  In the inauguration speech as chief guest, Faruk said government is conscious about the price

Nationwide Telecommunication Transmission Network (NTTN) service provider Summit Communications Limited has signed agreement with 12 ISPs at Hotel Westin yesterday. The agreements would provide the ISP companies access to Summit’s underground fiber optics