The New Nation - Internet Edition

CU proposes Tk.72.80cr budget for FY 2008-2009

CU Correspondent

The Chittagong University (CU) authorities will announce Taka 72.80 crore budget for the financial year 2008-2009. The budget will be placed at the 20th senate meeting tomorrow at AR Mallik Bhaban with Vice Chancellor Prof Dr M Badiul Alam in the chair. Of the total budget, University Grants Commission (UGC) will provide Taka 65.80 crore while Taka 7 crore will be arranged from CU's own revenue, official sources said. Sources said, of the budget expenditure, Taka 46 crore will be spent for salary and other allowances for the teachers and employees, Taka 11 crore for meeting pension demand, Taka 8.90 crore for general activities while Taka 5.03 crore for educational purposes. A Taka 69.20 crore revised budget of the current fiscal (2007- 2008) will also be placed at the senate session, sources said.

ONE Bank approves 25pc stock dividend: Shahidullah Khan elected as Chairman, Salma Zahur as Vice Chairperson

BUSINESS REPORT

ONE Bank Limited held its 2nd Extra-ordinary General Meeting (EGM) and 9th Annual General Meeting (AGM) on June 24 last at the Officers' Club, Dhaka.

The EGM approved to raise bank's authorised capital to Tk 415 crore from Tk 120 crore.

Earlier, Bangladesh Bank accorded its no objection to raise the authorised capital of the bank to Tk 415 crore.

Sayeed Hossain Chowdhury, outgoing chairman of ONE Bank Limited presided over the 9th Annual General Meeting of the bank.

Among others, Zahur Ullah, First Vice Chairman, Hefazatur Rahman, Second Vice Chairman and Farman R Chowdhury, Managing Director were present.

In the AGM, six sponsor-directors including the chairman and two vice chairmen retired after successful completion of their terms in the board as per Bangladesh Bank BRPD Circular No. 11, dated November 5, 2007 (Ref: Bank Company (amended) Ordinance, 2007 (22nd Ordinance of 2007) dated October 8, 2007).

The AGM approved 25 per cent stock dividend for the year ended on December 31, 2007 for the shareholders.

Ms Salma Zahur, Messrs Mostafa Paper Products Limited (Nominee: Jahir Uddin) and Anirban Das Gupta were elected uncontested as Directors.

The newly formed Board of Directors in the 126th meeting of the Board of Directors held on June 24 elected ASM Shahidullah Khan as Chairman and Ms Salma Zahur as the Vice Chairperson of the Board of Directors.

DBBL awards scholarships to meritorious students

BUSINESS REPORT

Under the DBBL-Scholarship Programme, Dutch-Bangla Bank Limited awarded scholarships to 100 meritorious students, including eight physically challenged who passed HSC Examination in 2007 and studying at graduate level in different universities and colleges of the country.

Finance and Planning Adviser Dr AB Mirza Md Azizul Islam was present as the chief guest and gave away the Scholarship Awarding Letters to the recipients at a simple ceremony held at Hotel Purbani in the city on June 24.Md Yeasin Ali, Managing Director of Dutch-Bangla Bank Limited presided over the function.

In his speech, Finance Adviser Dr AB Mirza Azizul Islam lauded the scholarship programme of Dutch-Bangla Bank and recalled other philanthropic activities of the bank.

He expressed the hope that all the corporate bodies of the country would come forward with such programmes for the benefit of the society.

Referring to the performance of the bank, the Adviser expressed his deep satisfaction. He extended his sincere thanks to the members of the Board of Directors of the bank for their benevolent initiatives.

The Finance Adviser also congratulated the students who got DBBL's Scholarship.

Md Yeasin Ali, Managing Director of the bank in his address informed that the bank established Dutch-Bangla Bank Foundation in 2001 to undertake the philanthropic activities and since then the bank has already donated more than Tk 100 crore for the benefit of the society. Under the DBBL Scholarship Programme, the bank has already awarded scholarships to 1,520 students and the bank spends amounting to Tk 4 crore per year in this regard.

The Managing Director mentioned that the bank, instead of spending money in conventional ways for celebrating its founding anniversary, has taken a number of philanthropic and social programmes for the betterment of the distressed people.

Among the scholarship awardees, a blind student Khokan Chandra Barman of the Department of International Relations, University of Dhaka, also spoke on the occasion.

He expressed the gratitude to the DBBL authorities for taking up such a noble initiative.

Additional Managing Director of Dutch-Bangla Bank AHM Nazmul Quadir extended vote of thanks.

Among others, Dr Mozammel Hossain Khan, Coordinator, Dutch-Bangla Bank Foundation also spoke at the function. Senior executives of the bank were also present at the function.

RFL declares 16pc dividends

The 28th Annual General Meeting of Rangpur Foundry Ltd (RFL) for the year 2007 was held at the National Shooting Complex Gulshan, Dhaka on Thursday.

The meeting was attended by a large number of shareholders which was presided over by Chairman of the Board of Directors Lt Col (Retd) Mahtabuddin Ahmed.

Ahsan Khan Chowdhury, Managing Director, Maj Gen (Retd) Amjad Khan Chowdhury, Director, Mrs Sabiha Amjad, Director, Sheban Kumar Naha, Director and Rathendra Nath Paul, Executive Director of RFL were present at the meeting.

Among others, Choudhury Atiur Rasul, Executive Director (Accounts), Md Abu Kawser, Company Secretary and other senior officials were present.

On the basis of its earning and financial results the company declared 16 per cent dividend for the year 2007, which was approved by the shareholders present at the annual general meeting.

The Executive Director of RFL apprised the shareholders about the future business plans of the company including effort to export.

The investors made valuable suggestions to the management for the improvement of future performance of the company and reiterated their confidence in the management at the meeting.

Islami Bank Foundation awards madrasha students

Islami Bank Foundation awarded scholarships to brilliant students of different Quwmi Madrasah under it's education programme at a function held on June 21 at the Board Room of Islami Bank Tower.

Principal Moulana Zainul Abedin, Vice Chairman, Board of Directors of Islami Bank Bangladesh Limited distributed the prizes as the chief guest.

The function was attended among others by Moulana Muhiuddin Rabbani, Muhaddis, Madrasah Faizul Ulum, Azimpur, Dhaka. Moulana M. Abdul Qaiyum, Principal, Zamia Arabia Nurul Ulum Madrasha, Kuliarchar, Kishoreganj and Ashraful Haque, Vice President and In charge of Islami Bank Foundation.

Principal Moulana Zainul Abedin called upon the participants not to confine themselves only to the field of education but to make themselves compatible with acquiring the modern knowledge including Islamic economics.

Besides, he urges the Islamic scholars to work together for the development of the country and to present the ideology of Islam to the mass people of the country. Students awarded in the function said that awarding prize to the students of Quwmi Madrasah by Islami Bank Foundation is really a noble deed.

BRAC Bank Short Stay Ward opened at ICDDR,B's Dhaka Hospital

BRAC Bank and ICDDR,B representatives celebrated the formal inauguration of BRAC Bank Short Stay Ward on Wednesday at ICDDR,B's Dhaka Hospital, says a press release.

ICDDR,B's Dhaka and Matlab hospitals provide free treatment to 11,20,000 patients each year with a commitment to not to turn away anyone arriving for treatment. In the past, accommodating these patients required the use of tents as temporary wards.

Muhammad A. (Rumee) Ali, Chairman, BRAC Bank Limited mentioned that 'BRAC Bank and ICDDR,B has a long-standing relationship of collaboration and mutual understanding and BRAC Bank is proud to be associated with ICDDR,B to support the underprivileged people of Bangladesh'.

In this regard, BRAC Bank Limited as part of its CSR activities contributed Tk 23,39,388 to develop the BRAC Bank Short Stay Ward.

With the generous support of BRAC Bank the short stay ward has now been renovated with full air conditioning, new washrooms, hand washing sinks, surrounding walls and upgraded floors and ceilings.

Muhammad A. (Rumee) Ali, Chairman, BRAC Bank Limited inaugurated the new BRAC Bank Short Stay Ward at the ceremony. AEA Muhaimen, Managing Director and CEO, BRAC Bank Limited, Dr Alejandro Cravioto, Executive Director, ICDDR'B, and Dr Mark Pietroni, Administrator, Dhaka Hospital, ICDDR,B were also present during the ceremony.

Apollo Hospitals continue to hold awareness program

Apollo Hospitals Dhaka recently organized HEALTH CARE AWARENESS programme at Singer Bangladesh Ltd where knowledge and guidelines were disseminated to the management and employees on how to lead healthier life. Dr Md Shahab Uddin Talukder, Consultant of Cardiology and Dr. Krishna Mohon Sahu, Consultant and Coordinator, Nephrology and Kidney Transplantation of Apollo Hospitals Dhaka conducted the programme.

Japanese co to invest Tk 17cr at KEPZ

A Japanese company will set up an electronic industry in Karnaphuli Export Processing Zone (EPZ).

The company, M/s Mathi Industries (BD) Ltd, will invest around Tk 17 crore for setting up their electronic plant to produce 50 lakh optical and other equipments. It will also create employment opportunity for 220 people.

An agreement to this effect was signed between the Bangladesh Export Processing Zones Authority and the M/s Mathi Industries (BD) Ltd at BEPZA Complex in Dhaka recently.

M Farhad Uddin, member (Engineering) of BEPZA, and Shimojima Masatoshi, managing director of M/s Mathi Industries (BD) Ltd, signed the agreement on behalf of their respective organisations.

Meghna Petroleum Ltd declares 20pc dividend

Chittagong Correspondent

Meghna Petroleum Limited (MPL) in its 29th Annual General Meeting (AGM) declared 20 percent dividend for its sharers.

Chairman of the MPL governing body Anwarul Karim presided over the 29th AGM that held at a local community center on June 21 last.

Members of the governing body Siddique Jobayer, Sayed Mohammad Mozammel Haque, Mohammad Ali, Mohammad Nurul Islam, MA Wadud Khan and company secretary Sarif Ashrafuzzaman among others joined the AGM.

The dividend was announced for the year 2007.

ICMAB holds CPD programme

A two-day long Continuing Professional Development (CPD) Programme 2008 of the Institute of Cost and Management Accountants of Bangladesh (ICMAB) was held on June 13 at ICMAB Ruhul Quddus Auditorium, Nilkhet, Dhaka. Md Mokhles Ur Rahman, Additional Secretary, Government of Bangldesh and Chairman, Bangladesh Sugar and Food Industries Corporation (BSFIC) as Session Chairman while Zahir Uddin Ahmed, FCMA, President of the Institute presided over the CPD Program. Md Abdul Aziz, FCMA past President and Chairman, Seminar and Conference Committee of ICMAB gave welcome address. AKM Delwar Hussain, FCMA past President and sitting Vice President also spoke on the occasion. Dr Jamaluddin Ahmed, FCA presented a paper on 'Fair Value Accounting: A Paradigm Shift.'

Etihad Guest charity donations pass 500,000 miles

Members of Etihad Airways' loyalty programme, Etihad Guest, have donated more than half a million 'miles' to humanitarian and environmental charities and projects across the world through the scheme's innovative reward shop.

Four humanitarian charities and one environmental organisation have become partners of the programme since its 2006 launch to provide members with the opportunity to donate their miles to more than 10 projects worldwide.

The projects vary from helping AIDS orphans in Thailand, to children needing open heart surgery in Sri Lanka, as well as matters closer to home such as the Special Care Centre in Abu Dhabi which aims to provide support and learning for physically and mentally challenged children.

Among the different environmental projects the most popular is the C02 emissions project from "Climate Care" which allows Etihad Guest members to use their miles to offset the production of carbon dioxide and other greenhouse gases.

Peter Baumgartner, Etihad Airways' executive vice president marketing and product, said:

"Charity donations, whether humanitarian or environmental, have become incredibly popular with members of the Etihad Guest programme as it provides an ideal opportunity for them to contribute to those less fortunate or to environmental projects across the world.