Business

Seventy-four full-length films were released last year but very few of them could make profits or breakeven returns on investments. Industry people used to say the movies could not make profit as middleclass people were turning their back on cinemas. But they now say cinema goers are there and also is the business thanks to ... Read more

Trade analysts advise govt on recession risks Trade experts yesterday advised the government to aggressively negotiate with the Obama administration to obtain duty-free and quota-free access for Bangladeshi goods to the US. “This is the time to chalk out details with the Obama administration,” Dr Debapriya Bhattacharya, a distinguished fellow with the Centre for Policy ... Read more

Motorola, one of the leading mobile device makers, is developing plenty of strategies to grab a significant share of Bangladesh’s untapped handset market. The US-based company yesterday said it has taken a lot of strategic plans, which will be disclosed soon, to re-enter Bangladesh market with a wider distribution network. The existing 45-million mobile market ... Read more

Dhaka stocks rebounded strongly yesterday from continuous loss and flat trends for the last few days with all its indices going up backed by banking shares, although decliners beat advancers. The benchmark index of the Dhaka Stock Exchange, DSE General Index, rose by 39.62 points, or 1.63 percent, to 2,466.16 points. The DSE All Share ... Read more

Staying immune from the ongoing global meltdown, the local information technology industry witnessed a 67 percent rise in exports during the first seven months (July-January) of this fiscal year, compared to the same period a year earlier. The IT-enabled service makers fetched $19.75million from exports during the time, which was $11.77million last fiscal. Software exports ... Read more

Embattled General Motors is girding for bankruptcy if necessary but will still emerge “reinvented” from its wrenching crisis, GM’s new government- backed boss Fritz Henderson said yesterday. Treasury Secretary Timothy Geithner said President Barack Obama’s administration was looking at all options for GM, after former CEO Rick Wagoner was replaced by Henderson last week on ... Read more

Islami Bank Foundation, a subsidiary organisation of Islami Bank Bangladesh Ltd (IBBL) has introduced ‘Quaraanic Language Institute’ through an inaugural function at Mohammad Younus Auditorium of Islami Bank Tower recently. Shah Abdul Hannan, former Chairman, Board of Directors of IBBL and also former Secretary inaugurated the institute as the chief guest. Principal MouIana Zainul Abedin, ... Read more

A high-level team comprising of RPP Project Chief Dick Moss (Sri Lanka), BACH Project Implementation Manager Nayeni Fernando (Sri Lanka) and Executive Director of Bangladesh Bank Mohiuddin Ahmed on Sunday visited the factory of Japan-Bangladesh security printing & papers Ltd. Located at Bhulta in Narayangonj. They along with Chairman of Japan-Bangladesh Group Salim Prodhan have ... Read more

Entrepreneurs want more supports to help cut imports A local entrepreneur is producing liquid rubber and marketing the item in a remarkable feat giving a lift to the country’s five decades old rubber industry. The Chokoria based HR latex successfully developed 60 grade rubber, popularly known as liquid rubber after an effort of four years ... Read more

Share trading suspended The Dhaka Stock Exchange on Sunday kept trading of the shares of S Alam Cold Rolled Steels halted as the bourse’s management initiated an enquiry after media reported that the company had acquired majority stakes of Oman Bangladesh Leasing and Finance Ltd, a non-banking financial institution. ‘Trading of the shares of the ... Read more

Six mobile phone operators added only 0.47 million customers to their networks in February, taking the number to 45.21 million. No customers were added to the network of Grameenphone, the largest mobile operator. In February, GP’s customer base remained unchanged at 20.94 million, the same as in January 2009, according to Bangladesh Telecommunication Regulatory Commission ... Read more

The Public Undertakings Committee yesterday emphasised implementing the development projects required for turning Chittagong Port into a centre of regional transport in future. Members of the parliamentary body that reviews accounts and reports of public institutions was exchanging views with the officials of Chittagong Port Authority (CPA) and Chittagong Customs during a meeting in the ... Read more

The sale of the mobile phone’s SIMs has slowed down remarkably as the major operators withdrew the subsidy on the SIM tax considerably. Leading operators Grameen Phone and Banglalink, enjoying more than 50 per cent share of the country’s cellular phone market together, have already withdrawn major portion of the subsidy on the SIM tax ... Read more

Sajjadur Rahman A hike in scrap metal prices in local markets has pushed the prices of mild steel (MS) rod by 20 percent in a span of two months. The price of 40-grade MS rod is now selling at Tk 47,000-49,000 a tonne against Tk 37,000-38,000 two months ago, while the 60-grade category has soared ... Read more

Sohel Parvez Paragon Agro, a concern of Paragon Group, plans to cultivate organic tea, aiming to exploit the growing consumer demand for the product in domestic and global markets. “Everybody demands organic food. That is why we are preparing to organically grow tea. We are now readying our garden to accomplish the mission,” said Moshiur ... Read more

British Airways set to exit from Bangladesh Sohel Parvez British Airways (BA) is set to bring down the curtain on Bangladesh next week, ending an era of direct Dhaka-London flights. Travellers are expected to pass more hours on their ways to Europe and North and South Americas. The airline will say goodbye to Dhaka by ... Read more

Shakhawat Hossain The state-owned rubber producer has sought approval from the higher authorities to export its products in a move that has been hailed by private sector as well because it will open a new chapter to the local rubber growers. ‘We have sought permission from the forest ministry to export rubber,’ said Bangladesh Forest ... Read more

AP, Mumbai, India Tata Motors said it will launch its ultra-cheap Nano car in Mumbai on Monday – a vehicle meant to herald a revolution by making it possible for the world’s poor to purchase their first car. But few predict the snub-nosed Nano will be able to turn around the company, which has been ... Read more

Staff Correspondent An obvious trauma gripped the businesses at Basundhara City after a devastating fire Friday burnt many shops and offices into ashes inside the country’s biggest and iconic shopping centre. The fire broke out at the top of the

Refayet Ullah Mirdha Bangladesh’s share in the US apparel market is getting larger as cheap clothing (basic garment items) sales in that market are increasing in global recession, market operators said. Recession-hit retailers in the US and Europe are purchasing garments from Bangladesh in enhanced volume as the cost of the item is less here ... Read more