Business

Toyota Prius is set to join Bangladesh traffic in May. A Toyota Prius-2010 is already on display at a motor show at Bangabandhu International Conference Centre in Dhaka. The hybrid will sell at around Tk 47 lakh, said officials of Navana Ltd, the distributor of Toyota cars in Bangladesh,

Bangladesh Telecommunication Company Limited (BTCL) has decided to reduce further broadband internet service charges with effect from April 1. BTCL Managing Director SM Khabiruzzaman disclosed the decision to reporters at BTCL conference room in the city on Thursday. He said, as per the changed rates, the registration charge for any type of ADCL package would

3-day int’l microfinance conf concludes Grameen Bank founder and Nobel laureate Muhammad Younus on Wednesday urged the government to fix a standard rate of interest for all microfinance organisations, rebutting criticism that micro-credit borrowers were charged ‘higher interests’. ‘Let us know what the interest rate is. Because people often say that it is high but ... Read more

Eighteen companies launch service Bangladesh’s internet users are now allowed to talk through VoIP (voice over internet protocol) technology within the country, as 18 local companies yesterday launched IP (internet protocol) telephony services. The existing users, connected by local internet service providers (ISPs), will get the chance to

Dhaka and Chittagong stocks rebounded, breaking a losing streak on Tuesday with a 2.30-per cent gain after the Securities and Exchange Commission’s decision to increase margin loan facility. The stock market regulator on Monday raised the ratio from 1:1 to 1:1.5 effective from

HSBC Bangladesh marked International Women’s Day (IWD), celebrated March 8 every year, by donating 38 sewing machines to disadvantaged women of the society. A ceremony was held in this regard at HSBCs Banani branch. The donation which was the brainchild of a HSBC staff, was made possible through the

Bank Asia opened its first branch of capital market division at Dhanmondi in Dhaka on Monday. President and managing director of the bank Erfanuddin Ahmed inaugurated the branch which will also assist opening of BO accounts, said a

A three-day international conference on microfinance began in the capital yesterday with a call to rationalise the high interest rate on microcredit that puts the poor people into debt and low-level technology traps. “We’ll have to think how to get out of these traps,” Finance Minister AMA Muhith told the

Bangladesh Bank (BB) has made the Dhaka Stock Exchange website off-limits to its employees during office hours from Thursday. The central bank instruction came after it found its officials busy surfing the DSE website, a senior BB official told The Daily Star

Migration Singapore narrows door for foreign workers Construction workers from Bangladesh, hotel staff from the Philippines, waitresses from China, shipyard welders from Myanmar, technology professionals from India — Singapore has them all. For years the rich but worker-starved city-state, built by mainly Chinese immigrants, had

HSBC Bangladesh received ‘AAA’ rating for the third consecutive year from Credit Rating Agency of Bangladesh Ltd (CRAB). ‘AAA’ is the highest rating awarded by CRAB which is given to banks with extremely strong capacity to meet their financial commitments and

The government and the World Bank (WB) have identified Kaliakoir of Gazipur as the first site for an economic zone. The proposed economic zone would be turned into a hi-tech industrial park and other potential areas including existing export processing zones (EPZs) could be

A two-week ‘Bashundhara Abasan Mela 2010’ began on level-1 and 2 at Bashundhara City in Dhaka on Monday. Managing director of Bashundhara Group Sayem Sobhan inaugurated the fair as chief guest, said a news release. Group’s additional managing director Safwan Sobhan, deputy managing director

Panasonic has launched 60 per cent energy saving air conditioner in the recently held Panasonic Air Conditioner Dealer Convention 2010 in a leading hotel in Dhaka. In the programme, Panasonic introduced three ranges of Panasonic Air Conditioners – Envio i2, Envio P2 and Standard models along with

Masud Rahman, managing director of Crane Ltd, has been re-elected as president of Canada-Bangladesh Chamber of Commerce and Industry (CanCham) for the 2010-11 term, a CanCham statement said yesterday. KM Khaled, managing director GETCO Ltd, has been elected as vice-president, Wali Sattar,

Small & Medium Enterprise (SME) Foundation appointed Syed Rezwanul Kabir as its managing director, says a statement released yesterday. Kabir, a science graduate and an MBA from Pennsylvania, USA, held different high-profile positions both at home and abroad, which brings 20 years of

Swapan Kumar Das has been promoted to deputy managing director of National Credit and Commerce (NCC) Bank, the bank said in a statement. Prior to the appointment, he was the senior executive vice president and Chittagong area incharge of

Dhaka stocks suffered a big jolt yesterday with the highest number of companies losing their share prices in the history of Bangladesh stockmarket, as investor confidence dipped to a new low. The prices of 89 percent securities declined. Of the 240 traded companies, 214 took a nosedive, while only 24 securities advanced. However, two

Grameenphone Ltd. announced a new range of price plans that is expected to bring greater simplicity in the pre-paid category. The company has also revealed a new price plan for its djuice product as well. Details of the new price plan were announced at a press conference yesterday at a

A three-day international conference on microfinance begins today at Sonargaon Hotel in the city with an objective of further developing and replicating across the world the small lending to the poor as an effective financial instrument. Microfinance Regulatory Authority has organised the conference with the financial support of