The New Nation - Internet Edition

451 sacks Indian fertilizer seized

UNB, Jessore

Rapid Action Battalion members seized 451 sacks of substandard Indian Potash fertilizer from a shop near Navaran health complex in Sharsha upazila headquarters Wednesday.

Acting on a secret information, the elite force raided the shop of Noor Mohammad and recovered the fertilizer.

Sensing police presence the shop owner and his associates fled the scene. A case was filed in this connection.

BRAC Bank intends to acquire 51pc share of GSP Finance

BUSINESS REPORT

The Board of Directors of BRAC Bank Limited has 'decided in principle' (subject the necessary regulatory approval) to acquire 1,946,500 (One million nine hundred forty six thousand five hundred) numbers of new shares of GSP Finance, which it has proposed to sell to BRAC Bank Ltd. The total number of shares of GSP Finance after issuing of 1,946,500 (One million nine hundred forty six thousand five hundred) fresh shares will be 3,816,500 (three million eight hundred sixteen thousand five hundred) number of shares.

BRAC Bank agreed in principle to acquire the whole issue i.e. 1,946,500 (One million nine hundred forty six thousand five hundred) numbers of shares which will be the 51 % of the post issue paid up share capital of the company.

A Memorandum of Understanding has been signed between GSP Finance and BRAC Bank Ltd to this effect on May 8, 2008.

IBBL holds training on remittance marketing

BUSINESS REPORT

A training programme on 'Remittance Marketing and Expatriate Customer Service' was held on Monday which was organized by International Banking Wing of Islami Bank Bangladesh Limited at Mohammad Younus Auditorium of Islami Bank Tower in the city.

Mominul Islam Patwary, Chairman, Executive Committee of the bank was present in the workshop as the chief guest.

Presided over by Md Habibur Rahman, Deputy Managing Director and Head of International Banking Wing the function was attended among others by Md Mahbub-ul-Alam, Executive Vice President, Md Mosharraf Hossain, Vice President and Representative of Saudi Arabia of the bank. Md Siddiqul Rahman, Vice President of the bank were also present in the programme.

Selected officials of different branches of the bank participated in the training course. The training programme was inaugurated on Saturday.

German economy feels the pinch from global headwinds

AFP, Berlin

German industrial output and exports fell in March, data showed yesterday, as a stronger euro, weaker global demand and high raw material prices left their mark on Europe's largest economy.

Until recently, economic data and sentiment indicators suggested that Germany was weathering well the prevailing headwinds in the world economy but Thursday's data added to growing evidence that this may not be the case.

Figures from the economy ministry for example showed that output from German factories dipped 0.5 percent from February, the first monthly fall since November, while February's rise was adjusted downwards to mere 0.2 percent.

The main culprit was a 12.3 percent slump in construction activity as a result of a mild winter which meant that the usual spring bounce in building activity was not forthcoming, the ministry said.

City Bank offers centralised services to corporate clients

BUSINESS REPORT

As part of its commitment to bring in global standard banking services, country's one of the largest local private banks The City Bank Limited has centralised its Corporate and Investment Banking (C&I) business recently. From now on, corporate relationships for loans, deposits, equities and advisory services will be marketed and managed by the corporate teams stationed in Dhaka and Chittagong, instead of branch based banking.

Yusuf Saeed, EVP, The City Bank Limited will head the C&I Division while K Mahmood Sattar, Managing Director and CEO and Sohail RK Hussain, DMD (Business) will leverage it further.

Following this recent development, The City Bank C&I team is already offering Structured Finance Solutions, Cash Management, Islamic Deposit and Investment Products, Leasing, Private and Public Equity using its 83 branches across the country.

Apart from this, the bank has long been providing a gamut of financial services covering from corporate banking to Structured Finance, SME banking, Retail, Treasury, International Trade etc. Moreover, the bank offers Islamic Finance Products, Brokerage Products, Brokerage Services, Lease Financing, Facility etc. which distinguishes the bank from other conventional banks.

Payment of remittances throughout country: SIBL joins hands with Bangladesh Post Office

BUSINESS REPORT

Social Investment Bank Ltd, a forward looking Shariah bank in the private sector has tied up with Bangladesh Post Office to use the network of thousands of post offices across the country to reach inward foreign remittances at the door steps of the beneficiaries.

The beneficiaries shall receive their money at their homes at any place in the country hassle free and could also receive instant cash payments from the counters of selected post offices.

Bangladesh Post Office and Social Investment Bank Ltd have signed an agreement in this regard at the conference roam of the Postal Directorate in Dhaka recently.

AMM Farhad, Executive Vice President and Head of Global Business Department of Social Investment Bank Ltd and AKM Rafiqul Islam, Director, Mails of Bangladesh Post Office signed the agreement on behalf of their respective organisations.

Among others, KM Ashaduzzaman, Managing Director, Abu Sadek Md Sohel, Deputy Managing Director of Social Investment Bank Ltd and Mobasherur Rahman, Director General, AKM Rafiqul Alam, Additional Director General, all Additional Director Generals, Postmaster General, Metro Circle, Central Circle of Bangladesh Post Office including other senior executives from both the organisations and representatives of different money transmission companies attended the signing ceremony. The services of Bangladesh Post Office delivering foreign remittances at beneficiaries' homes shall eliminate the hassles of traveling distant places to collect money and the instant cash payments through money order and electronic money order fund transfer mechanism shall give the beneficiaries access to receive funds from upazila level post offices at the first instance and subsequently at other sub post offices at village levels gradually.

Benchmark is now TBWA||Benchmark

BUSINESS REPORT

Benchmark Limited, a leading ad agency in Bangladesh teamed up with TBWA||Worldwide on May 6, 2008 in a grand re-launching ceremony at Pan Pacific Sonargaon, Dhaka.

TBWA is one of the most creative ad agency networks in the world. Ashraf Kaiser, CEO of Benchmark and Ian Thubron, Executive Vice President of TBWA/Asia Pacific unveiled the new logo of the company 'TBWA||Benchmark' in presence of the media, business personalities and social celebrities.

In the re-launching ceremony, Ian officially handed over the 'Symbol of Disruption'. In his short presentation Ian presented the working philosophy of TBWA.

Ashraf Kaiser presented the story of Benchmark and its journey so far.

"We are looking forward to a fruitful partnership and to bring in TBWA||'s philosophy of Disruption in Bangladesh, their resources and insight," said Ashraf Kaiser, CEO and MD of TBWA||Benchmark.

He also added, "We are very excited about the great potential we see in joining hands with an advertising network that has made an enormous impact in a short period of time in the world as well as in Asia'.

Referring to the partnership with Benchmark, Ian Thubron, Executive Vice-President, TBWA|| Asia Pacific said, `the association with Benchmark will help TBWA|| to mobilize its international expertise in building better brands in Bangladesh. Ian added. 'I believe TBWA||Benchmark will create a larger share of the future as well as a huge impact in the local market'.

TBWA||Benchmark serve a number of local and international brands like, Standard Chartered Bank, Etihad Airways, Aktel, Marks Full Crème Milk Powder, Singapore Tourism Board, ABC Radio, Pizza Hut, KFC and beyond. TBWA|| built the brands like Adidas, Absolut, Sony Play Station, Apple, McDonald's, Michelin, Nissan, Samsonite and beyond.

4 more Berger Color Bank outlets opened

BUSINESS REPORT

A total of four Berger Color Bank outlets were inaugurated recently in Khulna.

Managing Director of Berger Paints (BD) Ltd Rupali Chowdhury inaugurated M/s New Kakoli Hardware at Magura, and Sayeed Hardware at Bheramara, Kushtia, on April 28 last.

On April 29 the Managing Director also inaugurated M/s Padma Hardware at Shantidham more Khulna and M/s Jessore Builders Biponi at Hatkhola, Jessore.

Mohsin Habib Chowdhury, GM Sales and Marketing and Branch Manager of Khulna Ata-I-Muneer were present during the inauguration ceremony.

Besides, other high officials of Berger and eminent personalities of the cities were present.

The new Color Bank outlets have been inaugurated in the wake of increasing demand of Color Bank shades from Berger. Through Color Bank, Berger offers customers with their dream colors from an array of more than 5,000 shades that can be produced in five minutes. Color Bank products, which are lead-free and environment friendly, are available through all Color Bank outlets across the country.

Apollo Hospitals get blood bank licence

BUSINESS REPORT

Satisfying all the required criteria, Apollo Hospitals Dhaka received Blood Bank license from Directorate of Health, Government of Bangladesh, first of its kind in Dhaka Metropolitan City.

Under this license, Apollo Hospitals Dhaka would be entitled to collecting blood, processing, various testing, preparation and separation of blood component, storage, preservation, sale and distribution of whole blood and blood component.

This license is the recognition of the hospital's ongoing steps for ensuring quality healthcare in Bangladesh, a press release said.

Mishmak Development opts for GP Business Solutions

BUSINESS REPORT

Grameenphone Ltd has recently signed an agreement with Mishmak Development Limited to provide complete communication facilities under its business solutions package.

Grameenphone Business Solution is an integrated telecommunications service, specially designed for the business entities of Bangladesh, providing customised telecommunications solutions through a consultative approach, tailored to the needs of individual businesses. Mishmak Development Limited is the renowned importer and distributor of computer hardware items in Chittagong.

Comprising modern mobile telecommunications services for any business needs, the GP Business Solutions provide voice, text messaging and mobile data and internet services. Also on offer is a complete mobile-office solution, including mobile email, mobile high-speed data access, internet access, mobile fax and more, providing the freedom to work from anywhere within Grameenphone wide network coverage.

According to the agreement, Mishmak Development Limited is being provided complete communications solutions tailored to its needs, including voice and other services. They will use the services to further improve communication among its different offices, units and field officers at an affordable cost. The agreement was signed by Tulu-ush-Shams, Assistant General Manager of Mishmak Development Limited and Mohd Aulad Hossain, Head of Chittagong Region of Grameenphone, on behalf of their respective organisations. Aparup Aish, Manager Marketing and Ashraf Khalid Newaz, Sr Manager, Sales of Mishmak Development Limited, Md Shaheen Chowdhury, Manager, SME of Chittagong Division of Grameenphone, SME Khaled Hassan, Group Manager, and Kamrul Islam, Account Manager, SME, of Business Solutions were present at the signing ceremony.