The New Nation - Internet Edition

Pubali Bank committed to provide best services to customers

BUSINESS REPORT

Pubali Bank Limited, Mohakhali Corporate Branch, Dhaka has been shifted to new premises with a view to providing best and modern banking services.

Chairman, Board of Directors of Pubali Bank Ltd Hafiz Ahmed Majumder inaugurated the new premises as a chief guest on May 7 last, while Managing Director Helal Ahmed Chowdhury presided over the inauguration ceremony.

Directors of PBL Moniruddin Ahmed, Sk Wahidur Rahman, Giasuddin Ahmed, Ahmed Shafi Chowdhury and M Faizur Rahman also attended at the ceremony.

In his speech, Hafiz Ahmed Majumder said that Pubali Bank is committed to providing the best and innovative banking services needs of the market in fastest possible time. As a part for providing better services and clients' increasing demand, Pubali Bank has shifted Mohakhali Corporate Branch.

He expressed his hope that Pubali Bank would surely serve its customers with utmost satisfaction by applying modern technology through this branch.

The directors also spoke at the function. They urged all to take banking services through the Pubali Bank.

In his speech, Helal Ahmed Chowdhury said that Pubali Bank has been providing better services for its customers since 1959 with a promise to keep up its original tradition. He also said, PBL gives priority to provide opportunity and advantage to the customers through application of modern technologies.

With a view to expanding the scope of services, the bank has shifted its Mohakhali Corporate Branch.

Helal Ahmed Chowdhury said that Pubali Bank would open 10 new branches this year which have already received permission from Bangladesh Bank.

Seven branches will open in rural areas and three branches in urban areas.

He affirmed that Pubali Bank would render its services to the remote areas of the country.

Helal Ahmed Chowdhury said that Pubali Bank was going to recruit 400 officers who would help serve the customers allover the country with the present 5,500 employees.

He also said all branches are computerised and SWIFT-banking system is in force in all important branches.

The Managing Director urged all the local people for extending co-operation to the bank.

Engr Kutub Uddin Ahmed, Chairman of Envoy Group, Golam Mostafa, Managing Director of Kallol Group, Liaquat Ali Khan Mukul, Chairman of Rupayan Group and renowned businessmen and local elite also attended the function. General Managers of PBL Head Office and other executives were also present at the inauguration ceremony.

Number of subscribers now stands at 8.3 million: Banglalink earns Tk 475cr in first 3 months of 2008

BUSINESS REPORT

Banglalink, the second largest mobile phone operating company in Bangladesh, has earned Tk 475 crore during the first quarter of this year, which was 124 per cent higher than that of corresponding period of last year.

Announcing this excellent business performance of January-March 2008 (Quarter-1) at a press conference yesterday, Banglalink CEO and Managing Director Rashid Khan said the Banglalink's customers have now stood at 8.3 million. Of them, 1.2 million customers joined with Banglalink during the first three months of the current year of 2008.

Following its development initiatives for the last couple of years, Banglalink, a sister concern of Orascom Telecom, would concentrate its focus on investment towards infrastructure development in Bnagladesh, he said.

"During the first three months of 2008, Banglalink has investment Tk 641 crore in network infrastructure development. It was the highest investment in the particular sector within the period," said Rashid Khan.

While presenting the quarterly business performance results, the CEO said Banglalink has so far invested over Tk 4,843 crore in the development of telecommunication infrastructure in Bangladesh.

Quoting a BTRC report, which revealed that the aggressive marketing policy of Banglalink has increased its market share up to 21.3 per cent during the first three month of this year, Rashid Khan said, "This achievement has strengthened the second position of Banglalink in the mobile telecom market of Bangladesh."

Banglalink earned Tk 475 crore during the January-March period of 2008 while it was Tk 212 crore during the same period of last year.

IBBL holds view exchange meeting with panel lawyers

BUSINESS REPORT

A meeting of exchange of views of panel lawyers of Islami Bank Bangladesh Limited was held recently at the board room of the bank. Mohammad Abdul Mannan, Deputy Managing Director and Head of Investment Wing of the bank presided over the meeting.

The meeting was addressed, among others, by Ahmed Ali, Vice President of Assets Management Division, Abu Reza Md Yeahia, Vice President, Law Department of the bank, Md Nazrul Islam, Advocate Md Jashim Uddin Sarkar, Md Gias Uddin Mithu, Moshiul Alam and Barrister Masud Ahmed Sayeed, senior lawyers of the Supreme Court.

The lawyers discussed appeal and missed cases, revision and under-trial writ in the High Court in the context of existing judicial structure and system.

Mohammad Abdul Mannan, in his presidential speech, praised the efforts of lawyers and thanked them for their role for the bank. He expected that lawyers would be more active to recover the over dues.

Prime Bank delegate attends 4th ASL Asia Pacific Confce in HK

BUSINESS REPORT

A one member delegation represented by Md Touhidul Alam Khan, Senior Vice President and Head of Syndications and Structured Finance of Prime Bank Limited attended the 4th Annual Syndicated Loans (ASL) Asia Pacific Conference held in Hong Kong from April 17 to 18 last.

Euromoney Seminars in association with EUROWEEK ASIA arranged the conference where leading arrangers and bookrunners of the Asia Pacific region assembled to know the latest trends and developments of syndicated loan market and also for sharing knowledge and experiences. The professionals attended directly involved in syndication profession--not only in Asia, but also from across the globe. The workshop was designed as an update for the whole syndication loan market: the syndication experts and regulators of different countries gave an overview on the impact of the sub prime crisis of Asia's loan market, upward loan pricing, capitalising on the growth of infrastructure and project finance in emerging markets, the role of institutional investors, detailed analysis of key markets including India, Australia, Japan, China, Hong Kong and Singapore, borrowers' view on loan market and on other very related issues on syndication loan in the world. Besides, panel discussions were held on various topics where the delegates from different countries actively participated. It may be mentioned here that Prime Bank Limited was the only financial institution from Bangladesh which participated in the conference. Delegates from more than 15 countries attended the conference.

BOC's earnings register 34pc rise

BUSINESS REPORT

BOC Bangladesh Limited held its 35th Annual General Meeting yesterday at City Grand Hall, Bashundhara City, Panthapath, in the city.

While addressing the shareholders Chairman of the company M Syeduzzaman expressed satisfaction at the results achieved for the year ended December 31, 2007.

He mentioned that this was first full year of trading after the acquisition of the BOC Group plc by Linde AG of Germany. Operating in a somewhat uncertain business environment the annualised growth in revenue was 6 per cent while the earnings registered an increase of nearly 34 per cent. This tremendous earnings growth compared to sales was explained to have come from release of provisions made for old trade debts which had been recovered in the current year, better profitability from a change in sales mix, higher bank interest earnings and strong control over overheads.

The Chairman, however, lamented the poor performance of the core industrial products due to subdued development activities.

A dividend of Taka 7 per ordinary share i.e. 70 per cent was declared for the financial year ended December 31, 2007 which was same as for the 15 months period ended December 31, 2006. The Chairman mentioned that even after the dividend payout the company's liquidity position would be healthy enough to face any investment opportunity that may come its way.

The Chairman stated that the production capabilities of the company were in a good shape without major investments to meet the foreseeable demands of the core products in the short term. But the company is keenly looking forward to a shift change in the economic scenario which would usher new opportunities.

At the General Meeting extension of tenure of Waliur Rahman Bhuiyan, OBE as Managing Director was approved. M Syeduzzaman, ZH Khondker, and Azizur Rashid who retired by rotation as per Article No. 81 of the Articles of Association had been re-elected as director of the company.

BA offers lower fares for Bangladeshis to UK, US

BUSINESS REPORT

Bangladeshi customers can enjoy even lower fares this summer when they book with British Airways, says a press release.

British Airways is offering lower fares from Bangladesh to UK starting from US$ 699 and US$ 1099 to the United States. The offer is valid until June 28, 2008 and travel must commence before this date.

British Airways offers its customers various channels through which they can book their travel to the UK and onwards. Customers can contact British Airways directly or book their tickets online by simply visiting ba.com. They can pay online for their tickets if they have an international credit cards or pay at the nearest Standard Chartered Extranet outlet.

Amanda Amos, Area Commercial Manager, South Asia said: 'Our summer offer is a great opportunity for anyone looking for a getaway. For many of our destinations this is a perfect time to visit, particularly with savings as good as being currently offered.

'We at British Airways offer our customers a variety of options to book their travel at their convenience; they can either call our call centre directly, book online via ba.com or visit, call or email our travel shop. We hope our customers from Bangladesh will enjoy the offer this summer.'

British Airways operates non-stop full service flights from Dhaka to London Heathrow three times a week. British Airways offers three long haul cabins: Club World (business class), World Traveller Plus (premier economy class) and World Traveller (economy class).

British Airways has an extensive worldwide network of 140 routes in 70 countries and operates 372 flights per day to 41 destinations in the UK regions.

Janata Bank Ltd holds Branch Managers' Confce of Khulna

BUSINESS REPORT

S M Amlnur Rahman, CEO and Managing Director of Janata Bank Limited inaugurated the Branch Managers' Conference 2008 of Khulna Division at a local hotel in Khulna city recently. The CEO instructed all to ensure innovative services for meeting customers demands. He emphasised upon the recovery of classified loans, improve bank's business, investment in the potential sectors and thereby improve image of the bank among the public.

Shihabuddin Md Shahjahan, General Manager, Head Office, Md Nuruzzaman, General Manager of Khulna Division and other senior executives were present on the occasion.

Group insurance death claim cheque of Selim Al Deen handed over

BUSINESS REPORT

Jiban Bima Corporation (JBC) handed over a cheque as death claim of eminent dramatist and Professor of Jahangirnagar University late Selim Al Deen (M. Moinuddin Ahmed) under an agreement on group insurance recently at the Vice Chancellor's office, Savar. Chairman of Jiban Bima Corporation (JBC) and former Secretary to the government Rafiqul Islam handed over the cheque to the nominee Begumzadi Meherunnessa (Parul), wife of late Selim Al Deen through Vice Chancellor Professor Mohammed Muniruzzaman. Genaral Manager (Dev) of JBC Talukder Shamsur Rahman, incharge of group insurance division Firoz Ahmed Mollick, Treasurer of Jahangirnagar University Professor Syed Abdul Haye, Chairman of Drama and Dramatics Department Ahmed Sunny, Public Relations Officer Salam Saklinne as well as several high officials of JBC and university were present.

MFL opens booth office at Feni

MIDAS Financing Limited (MFL) has recently inaugurated its Booth Office Max Plaza, College Road, in Feni.

Md Abdur Rashid Gazi, Managing Director of MFL inaugurated the Booth Office and was present as the chief guest.

The Managing Director welcomed the guests and delivered speech on company's activities.

Shafique-ul-Azam, General Manager (D&P) and Md Din Islam Miah, General Manager (FA&T) and CS also spoke on the products and services of the company.

Huge number of invited guests like prominent business personnel, doctors, bankers and other different professionals were present at the inauguration ceremony.

Former director of Bangladesh Commerce Bank Limited and Managing Director of Hamida Flour Mills Limited and Hamida Oil Mills Limited Harun-Ur-Rashid presided over the function.

ABB opens global service station for turbochargers in Chittagong

ABB, a leading power and automation technology group, has recently inaugurated global service station for turbochargers in Chittagong.

Biplob Mozumder, Managing Director of ABB in India and Head of SAARC region, who is on a three-day visit to Bangladesh, inaugurated it.

ABB is committed to play a leading role in building the country's infrastructure by providing reliable and efficient solutions for power generation.