The New Nation - Internet Edition

Titas Gas applies to bourses for being listed

BUSINESS REPORT

Titas Gas Transmission and Distribution Company Limited recently submitted application to the bourses for being listed.

The listing subcommittee of the Dhaka Stock Exchange (DSE) will sit on June 2 to take a decision on the prayer under direct listing regulations.

"If the listing subcommittee approves, the board of the prime bourse, in its next meeting, will fix the debut trading day of Titas shares," said a DSE official Monday.

The gas distribution company would float over 21.55 million shares worth Tk 2.155 billion in the stock markets. It will offload 25 per cent of its stake in the stock markets with the face value of Tk 100 per share.

The Investment Corporation of Bangladesh (ICB) Investment Capital Management Limited is the issue manager working for share floatation of Titas in the country's two stock exchanges-DSE and Chittagong Stock Exchange (CSE)-under direct listing method.

SIBL ties up with Placid NK Corporation

BUSINESS REPORT

Social Investment bank Ltd (SIBL) has tied up with Placid NK Corporation of USA to facilitate payments of expatriates' home remittances in Bangladesh.

Under the deal Placid Express will send money of Bangladeshi expatriates to beneficiaries in Bangladesh through Social Investment Bank Ltd.

Placid Express is a worldwide money transmission company headquartered in New York, USA.

With this new agreement between Placid Express (USA) and SIBL (Bangladesh), the expatriates living in America, Canada, Italy and Malaysia would be able to send money to their friends and family living in remote places.

Now Placid can give Home Delivery to the remote places in Bangladesh.

After the introduction of spotCash! Placid's new arrangement with SIBL would better serve the Bangladeshis and their family and friends worldwide.

Abdul Awal Patwary, Chairman, Board of Directors, Kamaluddin Ahmed, Chairman, Board Audit Committee, K. M. Ashaduzzaman, Managing Director, Abu Sadek, Md. Sohel, Deputy Managing Director of Social Investment Bank Ltd and other senior executives from both the sides were present in the brief business tie-up function.

AMM Farhad, Executive Vice President and head of Global Business Department of Social Investment Bank Ltd and Mohammed Haroun Rashid, Vice President, Placid Express, USA signed the agreement on behalf of their respective organizations.

With this agreement, Placid Express, moved one step ahead in extending remittance facilities to expatriate Bangladeshis.

IIFC holds 8th AGM

BUSINESS REPORT

The eighth annual general meeting (AGM) of Infrastructure Investment Facilitation Center (IIFC), a government-owned company engaged in facilitating private participation in infrastructure projects, was held at IDB Bhaban in the city on Wednesday, said a press release.

IIFC Chairman and Secretary of Economic Relations Division Md Aminul Islam Bhuiyan, Secretary of Planning Division Jafar Ahmed Chowdhury, former member of Privatisation Commission Mian Mustaque Ahmed, M Faizur Rahman, AKM Shamsuddin, Kaniz N Siddique and IIFC Executive Director and CEO Nazrul Islam were present at the AGM as directors of the company.

Secretary of the Ministry of Shipping Sheikh Enayetullah, Planning Commission Member Mohammad Shah Alam of its Agriculture, Water Resources and Rural Institutes Division and Additional Secretary of Economic Relations Division Mohammad Mejbahuddin were present as the members of the company.

Bandarban people to enjoy Citycell services

BUSINESS REPORT

Citycell, the pioneer cell phone operator of the country, has recently launched its network service on trial basis in Bandarban district sadar of Chittagong Hill Tracts.

People of Bandarban will begin to enjoy the much anticipated services of Citycell with unbeatable tariff of 25 paisa/minute to all Citycell numbers and 98 paisa/minute to other operator numbers, throughout the day and night.

Citycell network in Khagrachhari and Rangamati hill districts will also be available shortly as works to set up towers and other equipment has already begun.

The expansion in network has been expedited by the joint collaboration between Citycell and Warid, who earlier signed a memorandum of understanding to share infrastructure across the country.

Pubali Bank branch managers asked to work with sincerity

BUSINESS REPORT

A seminar titled 'Manager and his Job' for branch managers and senior executives was held in the Pubali Bank Head Office which was organised by Pubali Bank Training Institute recently.

Managing Director of Pubali Bank Ltd Helal Ahmed Chowdhury was present as chief guest in the seminar.

In his speech, Helal Ahmed Chowdhury urged the managers to be logical, flexible and open minded. He also said that one could prove himself or herself as a good manager by conquering the limitations and manage all situations properly.

He urged everyone to provide correct and complete information in relation to the opening of bank accounts, transfer of funds and identification of customers.

Helal Ahmed Chowdhury further advised all the officials to be meticulous in compliance of instructions of Head Office, Bangladesh Bank and other regulatory bodies.

He also underscored the need for better and prompt customer services through utilization of the modern information technology.

Principal of the Training Institute Badruddin Ahmed and faculty member DGM Sushi Kumar Paul were present in the workshop.

Eastland Insurance declares 35pc dividend

BUSINESS REPORT

The 21st Annual General Meeting (AGM) of Eastland Insurance Company Limited was held on May 27, 2008 at the Bangladesh Institute of Administration and Management (BIAM) in Dhaka.

The meeting was presided over by Mahbubur Rahman, chairman of the company.

The chairman presented the report of the Directors, Audited Accounts of the company for the year ended 31st December, 2007 together with Auditors Report thereon. The chairman informed the meeting that the company earned a gross premium of Tk.316.87 million during 2007 through its 23 branches which is 21.82 per cent higher than that of the previous year. During the year, the company settled 198 claims for a total amount of Tk 71.35 million on account of fire, marine, motor and misc. insurance. Total assets of the company as on December 2007 stood at Tk 708.34 million.

The company declared 10 per cent cash dividend and 25 per cent stock dividend for the year 2007. Contribution of the company towards national exchequer during the year 2007 was Tk 50.70 million as income tax, VAT and stamp duty.

The chairman in his report further stated that despite volatile market situation and various prevalent negative factors the business of the company grew across all areas of its operation. He also expressed firm aspiration that such trend of growth would Inshallah be maintained in the years ahead as well.

A large number of shareholders attended the meeting and participated in the deliberations on Annual Report, Statement of Accounts and performance of the company.

Singer awards sewing instructresses

BUSINESS REPORT

Singer Sewing Academy organised Sewing Instructress Meet 2008 in Dhaka with a pledge to expand its sewing teaching activities across the country.

The annual conference turned out to be a congregation of sewing instructress and field force members from sewing schools under Singer Sewing Academy at Bangladesh-China Friendship Conference Centre on May 23.

Inaugurating the conference, Director and Chief Operating Officer of Singer Bangladesh Limited AM Hamim Rahmatullah said, "We are running the sewing education programme as part of our corporate social responsibility. Around 4,000 women, majority belonging to the disadvantaged section of the society, are getting the opportunity of becoming self-reliant each year. The sewing instructresses are carrying out the noble task with utmost sincerity. We take great pride in honouring them."

Chief Adviser to Singer Sewing Academy Mrs Nahar Jamil, in her speech, said, "Singer's sewing teaching programme is helping backward and neglected women community become self-reliant. The programme is playing an important role in women empowerment in the country."

National Sales Manager (Retail) Mokbulla Huda Chowdhury and Assistant Manager (Education) Nazmoon Nahar, among others, addressed the conference.

With the slogan 'Earn At Home,' Singer Bangladesh Limited has been running the sewing education programme since 1989 as an initiative to make women community self-reliant. Each year some 4,000 students complete sewing course and obtain certificates. The students acquire expertise in sewing and at the same time find new way of livelihood.

To encourage the instructresses, Singer Bangladesh this year has introduced awards for the categories of highest student enrolment, highest examinee turnout and outstanding results.

Maya Rani Saha of Khulna, Ferdousi Zahan of Dhaka and Nasrin Rahman of Cox's Bazar were conferred with the 'Best Teacher Award' for the year 2007. Monowara Hamid, Rowshan Akter Rona, Khorsheda Rashid and Sultana Nasrin Zahan of Dhaka were adjudged Best Seller. Maya Rani Saha and Nasrin Rahman were honored for both categories of highest student enrolment and examinee turnout. Maya Rani Saha and Lutfun Nahar of Dhaka were awarded for outstanding results in their school.

Indian food festival at the Westin Dhaka begins today

STAFF REPORTER

A ten-day long Indian Food Festival begins today at The Westin Dhaka in the city's Gulshan area.

ATM Hafizullah, Director of Sales and Marketing of The Westin Dhaka formally declared the ten-day long food festival yesterday through a press conference at the hotel yesterday. Besides, Gerard Wallace, the Executive Chef of the Westin, Swapan Kumar Baidya, the Executive Chef of Le Royal Meridien, Chennai in India and Chef R Chandrashekhar were present at the press conference.

The food festival styled 'The Journey to India' jointly organised by Le Royal Meriden, Chennai, India and The Westin Dhaka, Bangladesh.

ATM Hafizullah said the Indian food is not simply 'hot' curry; Indian dishes contain a variety of ingredients, flavours, colours, textures and preparation styles.

"Its flavours can be subtle or intense, mild or hot. Dry-roasting and frying spices and spice pastes provide wonderful dishes found throughout India, such as biryani, kheer and lentil curry, have regional differences resulting from the country's diverse history, culture, religions and geography," he said.

The dishes including Dum Aloo Banarasi, to Murg Anarkali, Prawn Balchao, Butter Chicken, Gobi Dakshin, Dal Tadkawali, Mutton Chettinad, Diwani Handi, Goan Fish Curry, Murgh Dum Pukht Biryani and Ambur Biryani…..made by Swapan Kumar Baidya and R Chandrashekhar offered at the food festival, Hafizullah added.

The food festival, starting from today will continue through June 6 at The Westin Dhaka.