Business

Dhaka Stock Exchange (DSE) started the New Year with a bullish trend with the reaching of the DSE index to a new high at 4568 points gaining 32.9 points. Total turnover was Tk 1094 crore 95 lakh. Banking and non-banking financial institutes were down due to profit taking. Insurance and textile sector was also down. ... Read more

Bangladesh Development Bank Ltd (BDBL) has formally went into banking activities yesterday with a huge burden including 534 court cases involving Tk 2,100 crore and a written-off liability worth Tk 2,480 crore. The management of the newly formed bank has already informed the government of their concerns on those issues. Another problem that may haunt ... Read more

Grameenphone Ltd. provided 13 Internet modems with 13 internet connections for Bangladesh Betar, recently. Bangladesh Betar the government owned radio center has coverage all over the country and operate from 13 regional stations. These internet modems will be distributed among the regional radio stations. The modems will enable them to use Internet for better communication ... Read more

The Real Estate and Housing Association of Bangladesh begins the REHAB Fair 2009 at the Sheraton Hotel in Dhaka on January 5 (Tuesday). ‘REHAB is going to organise the fair to bring in dynamism in the sector,’ the association president, Tanveerul Haque Probal, said at a briefing at the National Press Club on Saturday. Two ... Read more

Prime Finance and Investment Limited wins the first prize of ‘ICAB National Award’ for the best-published Accounts and Reports 2008 under the Financial Sector-Non Banking category. Prime Finance wins this prestigious award for published Accounts and Reports for the fourth successive year since its listing with Stock Exchanges in 2005. While evaluating the Reports, the ... Read more

The new chairman, vice-chairman and members of the executive committee of Bangladesh Jute Mills Association have taken over the charge for the term 2010 and 2011 in the annual general meeting of the association held on Wednesday. BJMA has re-elected as chairman Janata Jute Mils Ltd managing director Najmul Huq for the term 2010-2011. Najmul ... Read more

A month-long handloom textile and handicraft fair began at the Brajamohan Institution in the city on Saturday. Barisal City Corporation mayor Shawkat Hossain Hiron inaugurated the fair organised by the Bangladesh Benarasi Handloom Research Foundation. BCC mayor called the people to use country-made products to develop business, industry,

Otobi has recently launched its new line of products ‘Notepad collection’ at Otobi centres in Dhaka. The latest product of the furniture brand will provide complete office solution, said a news release. Notepad’s interior design team has been put together to provide assistance in creating a trendy work environment for young

Selim RF Hussain, a former chief financial officer of Standard Chartered Bank Bangladesh, has joined IDLC Finance Ltd as managing director and chief executive officer, the company said in a statement yesterday. Hussain, with 23 years of banking experience in Bangladesh, India and Australia, is an

The 12th Annual General Meeting of the Association of Bankers Bangladesh Limited was held recently at Eastern Commercial Complex at Kakrail in  the city. K. Mahmood Sattar, chairman of the association and MD of The City Bank Ltd. presided over the meeting, says a press release. Md. Nurul Amin, vice-chairman of the association and MD ... Read more

At least one lakh people across the country can have the opportunity of getting electricity generated by solar panels to be installed by the Grameenphone under its extended networking programme. An official of the Grameenphone, the largest mobile operator of the country, said this adding that the Grameenphone would install 200 solar panels in remote ... Read more

The Year In Review Remittance, forex reserve beat doomsayers Foreign exchange reserve and remittance marked an important milestone in Bangladesh economy in 2009, beating the development partners’ glum forecasts in the face of global recession. In ten years, foreign currency reserve grew from $1 billion to cross the $10 billion mark this year for the ... Read more

Citibank, NA, Dhaka branch on Sunday announced that it had successfully arranged syndicated facility of Tk 170 crore ($24.6m) to provide financing for Nasir Glassware and Tube Industries Limited, a sister concern of Nasir Group. This five-year term loan facility will be utilised to finance the purchase of capital machinery and other long-term investments associated ... Read more

The year 2009 has been a mixed experience for the local sellers of brand new cars, especially who deal with the high-end market segment as some dealers had very good sales while others had little business. Some importers argued that huge increase on duties on the high-end cars depressed their sales while others said they ... Read more

RAK Ceramics, a Bangladesh-UAE joint venture, is going to be the first to offer primary shares using the book building method, a modern pricing mechanism for initial public offering (IPO). The Securities and Exchange Commission, the market regulator, gave the green light to RAK at a meeting on Wednesday, officials said. The tiles and sanitary-ware ... Read more

The maiden shipment of crocodile export from Bangladesh is going to be delayed due to bureaucratic tangles, claimed the top executive of Reptiles Farm Limited, country’s lone crocodile farm. Despite applying about four months ago, the organisation is yet to get permission to export the unconventional item, causing failure to meet the deadline of the ... Read more

The annual sales conference, 2010 of Incepta Pharmaceuticals Ltd was held at the Bangabandhu International Conference Center(BICC) yesterday. Managing director of Incepta Pharmaceuticals Ltd, Abdul Muktadir inaugurated the daylong programme. Hasneen Muktadir, director, Planning and Commercial also addressed the programme. Year 2009 was another successful year for Incepta. According to IMS health, an independent market ... Read more

The government will make a new law titled Bangladesh High-tech Park Authority Act 2009 aiming to attract foreign investors into making investment in the country’s dormant IT sector for achieving its envisioned goal of ‘Digital Bangladesh’ by 2021, report agencies. In this regard, the government will set up a High-Tech park at 232 acres of ... Read more

AMCL (PRAN) have declared 29 per cent dividend to its shareholders for the year 2008-2009 at the 24th Annual General Meeting of Agricultural Marketing Co Ltd(AMCL) held at National Shooting Complex, Gulshan, Dhaka on  Thursday. Lt Col Mahtabuddin Ahmed (Retd), chairman, Maj Gen Amjad Khan Chowdhury (Retd), managing director,  Ahsan Khan Chowdhury, deputy managing director, ... Read more

Otobi, a leading furniture maker, opened a showroom of office decorative items and accessories in Dhaka yesterday. The showroom, named Notepad, will provide all modern furniture and accessories to bring a full-fledged corporate makeover to offices. “We bring around 2,000 products of trendy taste that ranges from Tk 10 to Tk 70,000,” said Shabbir Hossain ... Read more