The New Nation - Internet Edition

60 skilled garment workers recruited for Russia

UNB, Dhaka

Sixty skilled garment workers have been recruited by a Russian company opening the export of Bangladeshi workers to Russian Federation. Messrs Visujostoy have recruited these workers for the garments sector with a monthly salary of US$450 with free accommodation, medical and insurance. Each worker will have to spend a total Tk 1,35,000 for air ticket, immigration fee and language course. An official of the Expatriate Welfare and Overseas Employment Ministry said they received a demand from Russia for 150 Bangladeshi workers. The Bangladesh Embassy in Moscow has communicated that there is big opportunity of sending manpower to Russia. The official said that on May 29-30 a conference on recruiting manpower will be held in Vladivostok. Bangladesh will send a delegation to the conference, he added.

In Primoxy province of the Russian Federation, there is demand for

skilled and semi-skilled workers of different professions including

technicians, engineers and planners.

Meanwhile, 44 skilled workers have recently got employment in Romania.

Last year, some 830,000 Bangladeshi workers were granted immigration

clearance, while expatriate workers remitted US$6.5 billion.

Two Taiwanese cos to invest $102m in KEPZ : Create employment opportunities for over 10,200 Bangladeshis

BUSINESS REPORT

Two Taiwanese shoe companies are going to set up shoe manufacturing industries at Karnaphuli Export Processing Zone (KEPZ) by investing US$102 million (about Taka 697 crore).

These two companies will create employment opportunioties for more than 10,200 Bangladeshi people.

Messrs Genfort Shoes (BD) Limited, one of the biggest shoe companies of Taiwan, will set up a shoe manufacturing industry in the KEPZ.

Messrs Xin Chang Shoes (BD) Limited, another biggest shoe company of Taiwan, is going to set up a shoe manufacturing industry in the same EPZ.

Messrs Genfort Shoes (BD) Limited, a 100 per cent foreign owned company will invest about US$52 million or Taka 357 crore in their plant built on 14 plots of KEPZ and will produce 50 lakh pairs of shoes annually. The company will also create employment opportunity for 5,135 Bangladesh and 39 foreign nationals.

On the other hand, Messrs Xin Chang Shoes (BD) Limited, another 100 per cent foreign owned company will invest about Taka 340 crore in their plant built on 16 plots of KEPZ and will produce annually 50 lakh pairs of shoes. The company will also create employment opportunity for 5149 Bangladesh and 30 foreign nationals.

Two separate agreements to these effect were signed between the Bangladesh Export Processing Zones Authority and M/s Genfort Shoes (BD) Limited and BEPZA and Messrs Xin Chang Shoes (BD) Limited at BEPZA Complex, Dhaka on Thursday.

Member (Investment Promotion) of BEPZA and Chairman of Messrs Genfort Shoes (BD) Limited and the representative of Messrs Xin Chang Shoes (BD) Limited signed the agreements on behalf of their respective organisations.

Officials of BEPZA and the companies were present on the occasion.

Bangladeshi software has huge demand in Japan: JICA holds seminar in Tokyo to establish links among IT companies of two countries

BUSINESS REPORT

A seminar titled 'Current States and Capability of Software/ITES Industry in Bangladesh' was held on May 12 in Tokyo, Japan.

The seminar was co-organised by the Japan International Cooperation Agency (JICA), the BIK Japan (newly established business bridging organisation) and the UNICO International Cooperation. In addition, the seminar was officially supported by the Embassy of Bangladesh.

The seminar was attended by Asraf-ud-Doula, Ambassador of Bangladesh to Japan as the chief guest, while the JICA dispatched its Vice President Seiichi Nagatsuka as special guest.

Mohammad Islam Halim, Assistant Director of Export Promotion Bureau of Bangladesh (EPB) and Rafiqul Islam Rowly, President, Bangladesh Association of Software and Information Services (BASIS) were also present at the seminar as guest speakers.

Eighty-nine audiences participated in the seminar on behalf of 71 Japanese companies, which is a remarkable fact in Japan where Bangladeshi software/ITES industry is virtually unknown. Thirteen Bangladeshi software-based companies joined the seminar and they made brief presentations introducing their own companies.

The participants and the whole seminar marked that the high technology levels and technical skills of Bangladeshi software/ITES companies with a very strong cost competitiveness though the software/ITES industry in Bangladesh is almost unknown in Japan. It is strongly hoped that the seminar will be a starting point for establishment of business communications among software/ITES industries between Bangladesh and Japan.

Mamoru Yasui, an expert of JICA study team, explained in detail about the status of software /ITES industry based on his study among 42 Bangladeshi software companies. He mentioned that the level of technologies and process management of Bangladeshi software companies were at the level that can meet the international standards.

He also emphasised on the cost competitiveness of Bangladeshi software/ITES industry compared to those in China, India and Vietnam. He found least electricity supply is the major constraints for software/ITES companies of Bangladesh.

Later, Rowly and Halim introduced roles of the BASIS playing in making Bangladesh an alternative outsourcing destination, especially how the BASIS tries to enhance capacity of software /ITES human resource, which is the most potential asset that the country possesses. They presented the support that the Bangladesh government offers to software /ITES industry in Bangladesh.

Lastly, all the Bangladeshi companies made presentations to introduce their companies. These companies participated in the pilot project to establish software/ITES export marketing system in Japan .

The pilot project is being implemented under the JICA's Master Plan Study titled 'Study on Sub-Sector Growth for Export Diversification in the People's Republic of Bangladesh' which has been undertaken by the UNICO International Cooperation since February 2007. It is worth to mention that JICA is implementing another pilot project to improve jute sector in Bangladesh.

The seminar incorporated lectures and discussions on method of planning for the Bangladeshi software/ITES companies to strengthen their sales and marketing capacity in the Japanese market.

Phoenix Finance declares 22pc cash dividend

BUSINESS REPORT

The 13th Annual General Meeting (AGM) of Phoenix Finance and Investments Limited was held on May 14 at Bangladesh-China Friendship Conference Centre in the city.

At the AGM the company declared dividend @ 22 per cent in cash to its shareholders for the year ended December 31, 2007.

Deen Mohammad, chairman of the company presided over the meeting attended by a large number of the shareholders.

M. Yunus, Vice Chairman of the company, SM Intekhab Alam, Managing Director, Rafiqul Islam Khan, MA Majid, Mrs Selina Akhter, A Quadir Choudhury and Abdur Rahman, Directors of the company, M Shah Alam, Deputy Managing Director andAhmed Reza Chowdhury, Company Secretary were present, among others, at the AGM.

The chairman gave his welcome speech to the shareholders at the beginning of the meeting and highlighted the business performances and the achievements of the company. The shareholders expressed their satisfaction with the performance of company and the dividend declared for the year 2007.

Uttara Bank raises authorised capital to Tk 160cr : Declares 100pc stock dividend

BUSINESS REPORT

Uttara Bank Limited increased the authorised capital from Tk 100 crore to Tk160 crore in its Extraordinary General Meeting (EGM) held at the Officers Club, Dhaka on Thursday.

The bank also declared 100% stock dividend for the year-2007 in its 25th Annual General Meeting held on the same day and at the same venue.

Azharul Islam, Chairman of the Board of Directors of the bank presided over both the meetings.

The house also passed the Annual Report 2007 along with profit and loss account. Col (Retd) Engr MS Kamal, Major General (Retd) Prof MA Mohaiemen, Dr Md Rezaul Karim Mazumder and Mirza Naim Uddin were elected directors of the bank uncontested.

Prime Bank opens 3 ATM booths

BUSINESS REPORT

Prime Bank Limited opened three ATM Booths in the city on May 14 at Pragati Sarani, Ring Road and Bijoynagar in the capital city.

Managing Director of Prime Bank M Shahjahan Bhuiyan formally inaugurated the Pragati Sarani Branch booth. DMD RQM Forkan, SEVP Mukhter Hossain, SEVP Md Jasim Uddin, SVP Marketing Ehsan Habib and SVP Public Relations Ferdousi Sultana were also present on the occasion.

It may be mentioned that, earlier the first ATM Booth of the bank was opened at Gulshan on March 11, with which 11 ATM Booths were opened simultaneously on the same day and on April 17 the bank opened its 12th ATM Booth.

Through this ATM service, customers can draw money from these ATMs 24 hours a day, will be able to know account balance and at the same time can have a mini statement of his/her account.

For any reason, if the customer wants to change his/her ATM code he/she can do the same through the ATM Booth. Other than these, Fast Cash service and drawing own choice of notes will also be available.

Through these ATM machines, customers can pay their utility bills like-gas, electricity, water supply, mobile phone, etc very soon.

Besides, VISA Card and Master Card holders can avail their required services through these ATM Machines and ATM Card holders will be able to use those in the shops and markets for shopping through POS machines.

Bank Asia rewards employees for passing Banking Diploma Exams

BUSINESS REPORT

Bank Asia has rewarded its 12 employees for completing their Banking Diploma Examinations -- Part-I and Part-II successfully.

President and Managing Director of the bank Syed Anisul Huq, in recognition of their achievement, distributed the rewards among them at a city hotel on May 10. Eight of the reward recipients passed Part-I and three Part-II while one both parts of the Banking Diploma Examinations. Two each passed Part-I and Part-II in the first sitting. High officials of the bank were present on the occasion.

At the same function, the bank gave farewell to its two former senior executives. Of them, SM Shamsul Alam joined the National Commerce and Credit Bank Ltd (NCC) as Deputy Managing Director and Tanweer Rahim joined Dhaka Bank as Deputy Managing Director recently.

Earlier on the day, monthly managers' meeting of the bank was held where performance and administrative matters of the bank were reviewed.

DCCI training course on Import and Indenting Procedures held

A 5-day training course on "Import & Indenting Procedures" was held on May 10 at DCCI Business Institute (DBI). DCCI Director M. S. Shekil Chowdhury was the chief guest in the Certificate Awarding Ceremony of the training course. He told that Participants may use their Import & Indenting knowledge & skills for developing our country. He also told that participants negotiating with foreigners is very important. Indenting plays a vital role as it is a knowledge based business, he opined. He added that preparation of bidding is very important as generally technically evaluated lowest bidders get the job. He further added that indenters are treated as agents, consultants, distributor in the business community.

He urged upon the participants to use the acquired knowledge and assured the participants that OBI would consider the valuable suggestions in devising future programs.

The participants appreciated the course very much and requested for organising more such training courses in future. The chief guest also distributed the certificates among the participants.

Joint Secretary (Training) & Course Coordinator Md. Jawadur Rahman Choudhury moderated the session. Resource person Md. Rashed Ali was present on the occasion.

The course aimed at familiarising the following topics: Introduction to Import Trade in Bangladesh Formalities and Legal Documents for operating an Import House, Indenting Business in Bangladesh, Market Exploration and Apprising the Principals/Suppliers/Manufacturers for the Imported Products, Looking for the Principals/Suppliers/Manufacturers and reaching an understanding with them as Indentor, International Tenders - Different types of International Tenders and Techniques of Handling, Indenting in Private Sector, How to Collect Pro-forma Invoice/Indent and Formalities of Opening the L/C, Duties and Taxes for Importable Products in Bangladesh, Functions of C&F Agents, and Negotiation for Commission and Realisation thereof.

A large number of participants from reputed business organizations attended the training course.

Muhammad A (Rumee) Ali new chairman of BRAC Bank

Muhammad A. (Rumee) Ali has been appointed as the new chairman of BRAC Bank Limited in the last Board Meeting of the Bank.

Muhammad A. (Rumee) Ali started his career with ANZ Grindlays Bank in Bangladesh in 1975 after completing Masters in Economics from Dhaka University.

During his career with ANZ Bank, Rumee worked in India, UK and Australia. In 1997 he was appointed CEO of the Bangladesh operations. In 2000, ANZ in Bangladesh was taken over by Standard Chartered Group, Rumee continued as the CEO, Bangladesh of the combined operations of the two banks.

In Nov 2002 he joined the Bangladesh Bank as Deputy Governor and was responsible for supervision and driving the regulatory reforms in the banking sector. In 2003, he was made a Fellow of the Institute of Bankers, Bangladesh. In January 2007 Rumee joined BRAC as Managing Director. He is currently the Vice Chairman of the Bankers Association of Bangladesh and is member of the Boards of PKSF, Institute of Microfinance Bangladesh, Delta Brac Housing Finance, Bracnet, International Chamber of Commerce, Bangladesh, CSR Centre and Square Informatics Limited. He also is a member of the Technical Advisory Committee of Bangladesh Investment Climate Fund, SME Foundation Bangladesh, and Better Business Forum (Working Group on Business Finance) constituted by the Government of Bangladesh.

BTRC to award WiMAX licence this year

BUSINESS REPORT

The two-day international workshop on WiMAX concluded in Dhaka on Tuesday with an announcement from Bangladesh's Telecom Regulatory Commission (BTRC) that it would award licence of the service by this year. The workshop on "WiMAX in Bangladesh: Present and Future" was attended by telecom vendors, government officials, phone company representatives and think tanks from home and abroad.

Experts from six vendor partners--Alcatel-Lucent, Cisco, Huawei, Intel, Motorola and Nokia Simens Networks-- presented a number of keynote papers to share their thoughts and predictions about WiMAX in several sessions in the workshop. WiMAX, the Worldwide Interoperability for Microwave Access, is a telecommunications technology, aimed at providing wireless data over long distances from point-to-point links to full mobile cellular type access. "WiMAX is a promising technology and our existing submarine cable has a huge bandwidth and we'll be able to utilize it properly," BTRC chairman Manzurul Alam said. "We are hopeful to provide license for the service by this year," he added. It is projected that if Wimax service starts in Bangladesh, it will draw about 10,000 users by the end of 2008 and over 200,000 by the end of 2010.