The New Nation - Internet Edition

FBCCI business team off to China

A 32-member business delegation of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) left Dhaka on June 4 for Kunming, China to attend the 3rd China-South Asia Business Forum held during 4-6 June, in China.

The Forum will be inaugurated by Wan Jifei, Chairman of China Council for the Promotion of International Trade (CCPIT). The Forum has the support of business leaders of regional and apex chambers of the South Asian countries. It will tackle a number of regional and international economic issues from the perspective of the private sector's role in economic and social development.

During the visit the FBCCI delegation will meet the Vice Prime Minister of Yunan Province, Chairman of CCPIT and the Governor of Yunan province of China. The FBCCI leaders will also have meetings with their counterparts and dignitaries of the province.

Best Air lands at Bangkok Subarnavumi Int'l Airport

BUSINESS REPORTER

Best Aviation Limited for its inaugural international flights to Thai capital Bangkok offers attractive package, which includes exclusive health check up at the famous Peavey Hospital, ISD SIM card of Bangkok, discount in shopping at the King Power Shopping Mall for the travellers at only 240 US dollar.

Besides the Best Aviation Limited also offers, a Dhaka-Bangkok-Dhaka round trip only at $199 for the travellers.

Best Air launched its Dhaka-Bangkok-Dhaka flight to promote two-way trading and traffic between Bangladesh and Thailand with four-frequencies (Sunday, Monday, Wednesday and Thursday) a week.

Best Air's Dhaka to Bangkok (5Q 666) flight departs from Dhaka at 11:00am and reaches at Bangkok at 2:35, while the flight departs from Bangkok to Dhaka (5Q 667) at 15:35 and arrives Dhaka at 05:10 every scheduled day

The Best Aviation Limited stepped into the international aviation industry through the launching of its international flights from ZIA International Airport to Subarnavumi International Airport in Bangkok, the capital city of Thailand on May 25 last with passengers.

Ambassador of Bangladesh Mostafa Kamal welcomed the passengers after the flight landed at the Bangkok airport safely.

Chairman of the Best Air Haider Uzaman said his personal experiences in the services for over two decades have given an ample scope for him to plan different benefits packages which is the right choices for passengers as they are paying for.

Haider hoped for a positive growth of the Bangladesh tourism industry and business with the reforms taking place currently allowing the tourists to look at Bangladesh as a destination.

However, he said a lot of promotion on Bangladesh itself needs to be done internationally to attract foreign tourists and investments.

He also said Best Air would try its best to attract the foreign tourists by offering "Destination Bangladesh" package which will include all the tourists attractions of Bangladesh.

Best Aviation Limited also plans to start the flights to Kolkata, Chennai and Kualalampur in July next, while Middle Eastern gateway point Dubai flight would be started in August 2008, Haider said.

Ananda Shipyard cuts plates for four ships for German companies

BUSINESS REPORTER

Ananda Shipyard and Slipways Ltd (ASSL) is at present executing orders for four 5500 dwt multipurpose cargo vessels under existing contracts with German companies.

Plate cutting of the four vessels was performed on June 4 at Ananda Shipyard at Meghnaghat, Sonargaon, Narayanganj.

Plate cutting was switched on by Dr Abdullahel Bari, Chairman, Ananda Sipyard and Slipways Ltd and witnessed by CF Zaman, Managing Director and MM Karim, Surveyor, Germanischer Lloyd Bangladesh Ltd and Kazi Ma in Uddin Khadem, Asst. Vice President, Islami Bank Bangladesh Ltd and other high officials of the company.

Total contract value of the four ships is Euro 29.84 million. Deliveries of ships will be made between March 2010 and March 2011.

DBBL holds managers' meeting : Business performance of last 5 months reviewed

BUSINESS REPORTER

A meeting of Managers of Dhaka, Narayanganj, Narsingdi, Gazipur, Tangail and Manikgonj districts of Dutch-Bangla Bank Limited was held on June 4 at the Bank's Training Centre, Dilkusha Commercial Area in the city.

Md Yeasin Ali, Managing Director of the bank presided over the meeting. The meeting reviewed the business performance of the bank for the last five months and focused on business strategy for the remaining period of the year keeping in mind the prevailing market and economic conditions.

AHM Nazmul Quadir, Additional Managing Director, K S Tabrez, Deputy Managing Director (Operation), Abul Kashem Md. Shirin, Deputy Managing Director (Administration), Divisional Heads and other Senior Executives of Head Office took part in the discussion.

The Managing Director stressed importance on opening new accounts and procuring low-cost deposits. He also advised the Managers to be more focus for increasing retail business of their respective branches. He specially instructed the Managers to utilize the bank's centralised on-line facilities and ATM network in mobilising retail business.

The Additional Managing Director asked the Branch Managers to develop relationship with the customers and urged them to lay more emphasis on increasing business volume, diversification of banking products and expanding non-funded business for achieving the targets of 2008.

During their deliberations, Branch Managers firmly expressed their commitments to achieve their respective business targets.

BBC holding Single Country Trade Fair in Saudi Arabia

BUSINESS REPORTER

In collaboration with Bangladesh Embassy in Riyadh, Bangladesh Business Community (BBC) in Riyadh is holding a Single Country Trade Fair in Riyadh Palace Hotel, Riyadh, KSA.

Abdulrahman Bin Ali Al-Jeraisy, Chairman of Board of Directors, Riyadh Chamber of Commerce and Industry and Chairman, Jeraisy Group attended the inauguration ceremony of the fair as the chief guest yesterday. Around 60 business companies participated in the fair.

In addition to displaying service-oriented business in the fields of real estates, banking and insurances in Bangladesh, the fair is also showcasing Bangladeshi exportable products notably pharmaceuticals, herbal medicine, garments, knitwear, shrimps, frozen and dry food items, tea, jute goods, leather products, cosmetics and toiletries, melamine products and agricultural products.

The fair is expected to familiarise and promote Bangladeshi exportable commodities in the Saudi market. Visitors will have the opportunity to see for themselves few items Bangladeshi exportable products during the fair.

The fair remains open for visitors from 10:00am to 02:00pm and 04:30pm to 10:30pm every day. To acquaint the potential local investors with the investment opportunities in Bangladesh, a seminar on the "Investment potential and facilities in Bangladesh" will be held on June 9.

ADH signs deal to build world class apartment project in city

BUSINESS REPORTER

Apartment Developments and Holdings (ADH) started construction, sale and marketing activities of another new project at Shamoly residential area in the capital city.

In this respect, Foyez Ahammed, Managing Director and CEO of Apartment Developments & Holdings signed an agreement with Motiur Rahman and Dr Abbas Ali on Wednesday.

The Shamoly Project is situated near Shamoly Ring Road and Mohammadpur residential area. Two, three and four bedrooms with luxury leaving facilities are available for middle and upper middle class customers in this project through 24 installments, said Mr Foyez Ahammed. Apartment Developments and Holdings also facilitates getting loans at 9 per cent Bangladesh Bank interest rate for purchasing apartments at the project. This project is designed under the RAJUK's new rules.

On the occasion of signing ceremony, former retired government secretary, officials of the companies, retired defence officers, others directors and others high officials of the company were present.

ADH is constructing about 500 apartments at very attractive locations in the Dhaka city. Apartment Developments & Holdings received the 'Housing Basic Human Right Bangladesh Perspective' Award and Gold Medal in 2007.

ONE Bank holds Mejbun in Ctg

BUSINESS REPORTER

ONE Balik Limited arranged a traditional Mejbun on May 29 last in Chittagong. Renowned businessmen and industrialists, high officials from government, non-government, military and non-military sectors, chief personnel from different foreign missions and other renowned persons attended the Mejbun.

Sayeed H Chowdhury, Chairman of ONE Bank Limited and Mrs Farzana Chowdhury welcomed the guests.

Zahur Ullah, First Vice Chairman, Hefazatur Rahman, Second Vice Chairman and other directors of the bank were also present.

Commodore M Farooque, Chairman, Chittagong Port Authority, Sufi Mohammed Mizanur Rahman, Chairman, PHP Group of Industries, Ali Hossain, Chairman, BSRM, Nasiruddin, Chairman, Chittagong Stock Exchange, Abul Bashar Chowdhury, Chairman, Masud Group, SK Sur Chowdhury, General Manager, Bangladesh Bank, Mahbub Ali, Bangladesh Shippers Council, Md. Showkat Ali Chowdhury, Director, Eastern Bank Limited Fazlay Karim Chowdhury, ex-MP, Md Khalilur Rahman, Chairman KDS Group, MA Kalam, Managing Director, TK Group, Mahbub Alam, Vice President, Chittagong Chamber of Commerce, Ershad Ullah, Director, Chittagong Chamber of Commerce, Nasir Uddin, Chairman, Pacific Jeans Group, Solim Uddin Chowdhury, Editor, The Daily Purbakun and Mirza Ejaz Ahmed, Managing Director, HRC Family of Companies and others were present on the occasion.

CSE launches 5-day training on financial derivatives

In a bid to sensitise capital market operators with the products of derivative market, the Chittagong Stock Exchange (CSE) Thursday launched a 5-day certification course on Financial Derivatives for the employees of the Brokerage firms and financial Institutions.

The course has been jointly organised by CSE and National Stock Exchange (NSE) of India which began Thursday at the BRAC Inn at Mohakhali in the city. The Securities and Exchange Commission (SEC) Chairman Faruq Ahmad Siddiqi, inaugurated the certification course as the chief guest.

Ramakrishna Srinivas Lyengar of National Stock Exchange of India, an expert on financial derivatives instruments, which became popular in the bourses of the foreign countries as a risk management tool, will conduct the training course. A total 40 participants are taking part in the course to be concluded on June 9.

Speaking at the inauguration ceremony, CSE President Nasiruddin Ahmed Chowdhury said securities like, shares, bonds and mutual funds are traded in stock markets of Bangladesh. "There are demands for good instruments in the market, but the supplies are limited. As a result, we experience that too many investors running after limited number of securities, leading to an unhealthy competition in the market."

Speaking at the inauguration, SEC chairman said that introduction of such products will help prepare the market operators to brace the new products introduced in the developed markets.

The SEC chairman said these new financial instruments are an increasingly important vehicle for unbundling risks. These instruments enhance the ability to differentiate risk and allocate it to those investors most able and willing to take it.

A. B. Siddique, Chief Executive Officer of the CSE said the derivative products, which do not exist at all in Bangladesh's stock markets, are the most popular investment instruments for the institutional as well as individual investors in both developed and developing countries such as India and Pakistan.

BTRC rejects plea for another re-registration opportunity

BUSINESS REPORTER

Around 10 lakh mobile phone connections will be disconnected as Bangladesh Telecommunication and Regulatory Commission (BTRC) on Wednesday finally rejected operators' request to offer customers another chance for re-registration.

In a meeting with the prtivate mobile phone operators, BTRC said it will not change its position and asked the operators to provide a list of all the disconnected mobile numbers by June 12.

"We requested the regulator to extend the deadline once more as we believe around 1 million (10 lakh) customers may face disconnection," said an official of a mobile phone company.

"As the regulator refused our plea, we are sorry to the un-registered customers," he added.

However, BTRC said the customers, who registered before the deadline but did not receive the confirmation message from the respective operators, will be connected if they provide the registration documents.

Earlier in August last year BTRC issued an order to Grameenphone, AKTEL, Banglalink, Citycell and TeleTalk to re-register the customers who bought connections before February 28, 2006. BTRC had to extend the deadline four times.

Promotional online fares to three Singapore Airlines destinations

Singapore Airlines launched promotional fares to three popular regional destinations, says a press release.

The fares are valid for economy class tickets booked online, via the airline's website, singaporeair.com/bd.

Fares to 3 cities, inclusive of all taxes and surcharges (subject to currency fluctuations), are Bangkok $686, Ho Chi Minh City $735 and Maldives $1081. Tickets are on sale from 23 May to 07 June 2008, and valid travel from 01 June to 30 July 2008.

Cheang Kok Ming, General Manager Bangladesh, says, "Customers can book and purchase their tickets online, at their convenience and in the comfort of their home. By booking online, customers have a choice of popular destinations like Bangkok and exotic destinations like Ho Chi Minh Ciy and Maldives at promotional fares."

Aristopharma holds raffle draw of Aristo Medica quiz

Aristopharma Ltd organised a raffle draw programme of its medical newsletter 'Aristo Medica' at Sonargaon Hotel on Saturday last. This exceptional occasion became memorable due to the presence of distinguished members of Bangladesh Society of Medicine. The raffle draw was based on the quiz competition organized on the occasion of the inaugural issue of 'Aristo Medica'.

More than ten thousands doctors from different corners of Bangladesh participated in this quiz program. Among them about seven thousand doctors gave correct answers.

The present & immediate past President, Secretary & other distinguished doctors of Bangladesh Society of Medicine picked the name of 5 winners through this raffle draw program. Chairman and Managing Director of Aristopharma MA Hassan, Director (Marketing and Commercial) Md. Mahboob Hassan, Director (Finance & Administration) Md. Sahid Hassan, Marketing Manager Noor Hossain & other managers of Aristopharma were present in the program. Aristopharma will send the prizes to the lucky winners at their respective addresses.