Business

The electronic transaction project will take off in six months Money transfer is about to go digital in six months, as Bangladesh Bank has approved the launch of an electronic prepaid card system that will have a mobile payment option. The central bank permitted Trust Bank Ltd to act as a settlement bank for digital ... Read more

The first-phase of construction for a deep-sea port at Sonadia offshore island on the Bay of Bengal would be completed by 2016, accelerating shipping operations, parliament heard Monday. Responding to a starred question from M Tajul Islam, shipping minister Shahjahan Khan further said that on completion of construction of the deep-sea port, vessels of 14-metre ... Read more

Ashuganj Zia Fertiliser Company Limited is facing a Tk 6 lakh loss daily as inadequate storage facility has forced the company management to go below its full production capacity. Around 47,000 tonnes of urea remained in the open on the factory premises until yesterday. Besides, at least 500 tonnes of the surplus urea is being ... Read more

Acute crisis of ice and lack of preservation and transportation facilities have forced the fishermen in the southern coastal areas to sell hilsa at a throwaway price. Fazlu Gazi, president of Mahipur-Alipur Fish Traders Association of Kalapara in Patuakhali, said the fishing trawlers, each loaded with 50 to 1,000 maunds of hilsa, started returning to ... Read more

Taiwan’s producers of liquid crystal displays know that venturing into the Chinese market is risky, but they are also fully aware they have no choice, analysts said. Even though they are major revenue earners, the island’s LCD makers got off to a late start, struggling for years to match stronger Japanese and Korean rivals, and ... Read more

A lottery for allotment of shares of the Dacca Dyeing & Manufacturing Company Ltd was held at Bangabandhu International Conference Centre in the city on 30th September. The department of computer science and engineering of BUET conducted the lottery. The representative of Securities and Exchange Commission, Dhaka Stock Exchange Ltd, Cittagong Stock Exchange Ltd, Investment

Bangladesh clothes get stronger ground in the world’s fashion capital Paris with the opening of the flagship store of the leading Asian apparel retailer Uniqlo. Uniqlo, known for high-quality basics such as affordable cashmeres with quintessentially Japanese craftsmanship, manufactures its clothes mostly in Asia, in China, Indonesia, Vietnam and

The government moves to frame a policy soon to set eligibility criteria for local carriers to fly on international routes, officials said. The policy is also aimed at bringing transparency and discipline to traffic right distribution process. The policy, after introduction, is expected to bar less than two-fleet carriers’ operations to the global destinations. Aircraft ... Read more

The newly established Belonia-Feni land port is being inaugurated today (Sunday) to open a new avenue for Bangladeshi entrepreneurs for exporting more commodities to the northeastern region of India. The new land port would help Bangladesh increase its export to India amounting to one billion US dollar by 2011, which would ultimately reduce Bangladesh’s trade ... Read more

Public subscriptions for the shares of Grameenphone, the biggest public offer in Bangladesh history, starts today to mobilize a fund of Tk 4.86 billion. Subscription to the IPO by resident citizens will close Thursday while it will continue until October 18 for the non-resident Bangladeshis (NRBs). Interested investors would submit their applications in over 500 ... Read more

Bhutan is keen to sign  a free trade agreement (FTA) with Bangladesh to boost economic relation between the two countries, the Economic Affairs Minister of Bhutan said here  on Saturday. Lynopo Khandu Wangchuk spoke of Bhutan’s keenness during his meeting with the Dhaka Chamber of Commerce and Industry (DCCI) at the DCCI auditorium this morning. ... Read more

Real estate companies are opting for more housing projects outside Dhaka, as the soaring land price and its scarcity in the capital have pushed apartments beyond the purchasing capacity of many potential buyers. Industry people said some realtors have recently embarked on projects in different areas surrounding Dhaka, including Narayanganj, Comilla, Gazipur and Mymensingh, to

Businesses are increasingly using the device The newly introduced vehicle tracking system has become popular among corporate houses as it promises to retrieve stolen or lost cars and provides a means to cost-effective logistics management. Along with donors and NGOs, corporate houses, like telecom operators, banks, insurers and garment makers have adopted the

Marico Bangladesh Limited yesterday held a lottery for the allotment of shares in the initial public offering (IPO), the company said in a statement. Marico has allotted 29,97,750 ordinary shares to general public, NRBs and mutual funds and 152,250 shares to its employees. Refund warrants of unsuccessful applicants and allotment letters will be distributed from ... Read more

The broadband wireless internet service WiMax is likely to be launched in the city from the second week of October. Banglalion Communica-tion Ltd, one of the two companies that obtained WiMax licences, will provide the service under its ‘friendly test use’ programme to 15 areas of the city, GM Faruk Khan, head of promotion and ... Read more

Mobile phone operator banglalink earned revenues of Tk 1,183 crore at the end of first half 2009, which is an increase of 29 per cent compared to the same time last year. Its subscriber base increased steadily and reached 11.04 million at the end of June, which is a 17 per cent increase compared to ... Read more

The sound of chainmail clinks in your ears, drowning out the merrymaking behind you. A gauntlet covered hand digs hard into your arm, and you stifle a whimper. You stammer and plead, your pencil thin legs pumping wildly, your eyes darting back and forth for a kindly soul to come to your aid. Despite your ... Read more

The government will reallocate the frequency of local carriers’ flights from Dhaka to London to allow private airlines a wider access to global aviation. The move comes at a time when the capacity of local private carriers to utilise opportunities is being questioned. As part of the move, GMG Airlines and United Airways will be ... Read more

Apartment sales have soared around 15 percent in the first month of the new financial year, as the government announced that buyer’s source of income would not be questioned under black money whitening scope. Housing sector people say the scenario was reverse during January-March of 2009. The realtors blamed the ongoing global recession fallout for ... Read more

The telecoms watchdog is set to make ‘competition regulations’ by September this year to restrict monopolisation, aiming to ensure a level-playing field in the rapidly growing Bangladesh telecoms market. The telecoms regulator has followed the recommendations made by International Telecommunication Union (ITU), the United Nations agency for information and communication technology, which recently reported on ... Read more