The New Nation - Internet Edition

CSE closes lower yesterday

UNB, Chittagong

Trading at Chittagong Stock Exchange (CSE) closed lower yesterday with the losers dominating the gainers.

The CSE All Share Price Index (CASPI) declined by 0.37 percent to close at 9112.22 points.

The CSE-30 Index also decreased by 0.27 percent to close at 8184.23 points.

A total of 143 issues were traded today. Of them, 62 gained, 76 declined and five remained unchanged.

Some 5,333,214 shares and debentures worth Tk 39.19 crore changed hands yesterday.

Thailand keen to sign FTA with Bangladesh: Ambassador Chalermpol Thanchitt tells that Thai Embassy intends to issue multiple visas for bona fide Bangladeshi businessmen who frequen

BUSINESS REPORT

Ambassador of Thailand to Bangladesh Chalermpol Thanchitt yesterday revealed his country's interest to sign a bilateral Free Trade Agreement (FTA) with Bangladesh so that the volume of two-way trade between the two countries increased by US$1 billion within the next five years.

"The Government of Thailand has set a target to double its bilateral trade with Bangladesh within the next five years, which is now hovering around US$500 million annually," he said while addressing a seminar on 'Flying SMEs to Thai Suppliers.'

"If this goes well, we shall eventually achieve something like the long-awaited Elevated Expressway for the free-flow of goods and services," the Ambassador said.

Thai Trade Centre in Dhaka and the Department of Export Promotion of the Ministry of Commerce of Thailand jointly organised the seminar at Dhaka Westin Hotel in the city.

Director of International Business Consulting Center of Thailand Netpreeya Choomchaiyo presented a paper on 'Expand Business Opportunities for SMEs with Thailand International Trade Mart.'

Director of Thai Trade Centre in Dhaka Usa Wijarurn, Chairman of Best Air Haider Uzzaman, Managing Director of Rangs Industries Ltd Rumee Hossain, Business Development Manager of BRAC Bank Ltd Md Ziaul Latif also addressed the seminar.

The Thai Ambassador also expressed the hope that the targets set would be achieved sooner than expected.

"With the current high import tariffs in Bangladesh, I am certain that the idea of signing an FTA will be warmly welcomed by both consumers and distributors alike. And if the Ranong Port of Thailand could be made fully operational, the shipping time to Chittagong Port will go down to only 4 days with much lower costs," he said.

Ambassador Chalermpol said the Thai Embassy in Dhaka is ready to issue long-term multiple business visas for bona-fide businessmen who frequently travel to Thailand for business purposes.

The Thai Embassy is also studying a possibility of taking into consideration the volume of trade with or investment in Thailand for visa issuance in this regard.

The Thai Trade Center in Dhaka has been trying to promote the trade volume between two countries. 'But as public sector, our job is to facilitate. The actual role must be played by the private sector,' the Ambassador also said.

"The significance of small and medium entrepreneurs (SME) cannot be overlooked. Especially in the case of Bangladesh with population of 150 million, I am certain that SMEs could well play their part in creating jobs opportunities and new entrepreneurships, which will eventually lead to the strong middle class group in the country.

Such strong middle class people are highly crucial for both economic and political senses, as they are well educated, less conservative, optimistic about future, and active to take new initiatives," Ambassador Chalermpol said.

Korean company to invest $15m in Chittagong EPZ

BUSINESS REPORT

M/s North Pole BD Limited (Unit-2), a Korean company will set up a camping tent, sleeping bag, camping furniture and accessories manufacturing industry in the Chittagong Export Processing Zone.

This 100 per cent foreign-owned company will invest initially about Tk 105 crore in setting up its plant and will produce camping tent, sleeping bag, camping chair.

The company will also create employment opportunity for 2535 Bangladeshi and two foreign nationals.

An agreement to this effect was signed between the Bangladesh Export Processing Zones Authority and M/s North Pole BD Limited (Unit-2) at BEPZA Complex in the city on July 1.

Prasanta Bhushan Barua, Member (Investment Promotion) of BEPZA and Steven David Fleischil, CEO of M/s North Pole BD Limited (Unit-2) signed the agreement on behalf of their respective organisations.

Brig General Jamil Ahmed Khan, Executive Chairman of BEPZA and other officials from respective organizations were present on the occasion.

Standard Bank holds 130th board meeting

BUSINESS REPORT

The l30th meeting of the Board of Directors of Standard Bank Ltd was held on June 30 in the Board Room of Head Office of the bank.

Chairman of the Board of Directors Kazi Akramuddin Ahmed presided over the meeting.

It was attended by Vice-Chairman Alhaj Mohammad Shamsul Alam, Directors Kamal Mostafa Chowdhury, Alhaj Nurul Haque Sowdagor, Ferdous Ali Khan, Farzana Yousuf, Shaikh Mesba Uddin and SS Nizamuddin Ahmed. Among others, Managing Director (CC) SA Farooqui, DMD Md Nazmus Salehin and Board Secretary AFM Nizamul Islam Chowdhury were also present at the meeting.

The Board took various important decisions regarding the bank's investment policy in the field of trade, commerce and industries and approved proposals received from different branches in respect of financing of working capital for industries and other import, export and commercial trading businesses.

Karnaphuli Insurance Company declares 14pc stock dividend

BUSINESS REPORT

The 21st annual general meeting of Karnaphuli Insurance Co Ltd was held on June 30 last at BIAM Foundation Auditorium in the city.

The meeting declared 14 per cent stock dividend for the year ended December 31, 2007 which was unanimously approved by the shareholders in the meeting.

The meeting was presided over by Chairman Nizamuddin Ahmed.

Among the Directors, Mrs Hasina Nizam, Mrs Zobaida Parveen, Nasiruddin Ahmed, Md Shah Alam, Mafizur Rahman, Sk Shafiqul Islam and Managing Director Md Musleh Uddin were present at the meeting.

Besides, shareholders of the company were present.

In his speech, the chairman informed that the company was able to earn more premium than the preceding year despite the adverse financial condition of the country and unhealthy competition in the insurance industry.

Premium income of the company for the last six months of this year significantly increased in comparison with the same period of 2007.

He expected that the company would be able to earn more and more profits in the days ahead.

Among the shareholders, Md Salim Sikder, Md Jahangir Alam, Abul Bashar Talukder, Lutful Gani Tito, Abdul Jabbar Howlader and Md Ashadul Haque also spoke at the meeting.

Janata Bank employees urged to provide better customer services

BUSINESS REPORT

A workshop on 'Relationship Management and Business Development' of Janata Bank Limited was held at Diploma Engineers' auditorium at Kakrail in the city on July 1.

Chairman of the Board of Directors of Janata Bank Limited Suhel Ahmed Choudhury inaugurated the session as the chief guest, while CEO and Managing Director SM Aminur Rahman was present as special guest.

The Chairman instructed all to maintain harmonious relationship with officers/employees and customers providing better customer services.

The CEO advised all to meet the customers' demands by effective shared communication rendering market based qualitative service on the occasion.

Deputy Managing Director, General Managers, Consultants, Dhaka Area Branch Managers, Second Officers and Cashiers participated in the workshop. Nazrul Islam, General Manager, HRD conducted the workshop.

Jamuna Bank customers can use DBBL's 240 ATM booths

BUSINESS REPORT

An agreement was concluded between Jamuna Bank Limited and Dutch Bangla Bank Limited on July 1 by virtue of which the customers of Jamuna Bank Limited have been allowed to use 240 ATM Booths of Dutch Bangla Bank Limited all over the country.

Md Yasin Ali, Managing Director of Dutch-Bangla Bank Limited and Mohammed Lakiotullah, Managing Director of Jamuna Bank Limited signed the agreement on behalf of their respective banks. On the occasion, Md Tazul Islam, present Chairman of the Board of Directors, Alhaj Nur Mohammed, former Chairman of the Board of Directors of Jamuna Bank Limited, Dr Kazi Saifuddin Munir, Managing Director of ITCL, Md Motior Rahman, M.A. Salam and Md Alauddin Al-Azad, Additional Managing Director and Deputy Managing Directors of Jamuna Bank Limited, AHM Nazmul Quadir, Abul Kashem Md Shirin and KS Tabrez, Additional Managing Director and Deputy Managing Directors of Dutch Bangla Bank Limited and other senior officials of both the banks were present.

Rahimafrooz launches Quikfill CNG Refueling Station at Tongi

Rahimafrooz, has launched the first Quikfill CNG Refueling Station chain at Tongi on July 1.

Afroz Rahim, Chairman, Rahimafrooz Group inaugurated the station through a ribbon cutting ceremony.

Among others, Feroz Rahim, Managing Director, Rahimafrooz Group, Directors Niaz Rahim, Mohamed Ismail, Mudassir Moin and Munawar Moin and Shahzad Akhtar, COO and Director Rahimafrooz CNG Limited were present on the occasion.

With the promise of 24-hour service, electronic billing system and backup power to valued customers Quikfill is going to give a whole new experience to ensure customer delight.

Besides Tongi, QUIKFILL CNG Refueling Stations have also been opened at Tejgaon, Biswa Road and Manikganj. Eleven more CNG refueling stations are going to be opened in other parts of the country very soon.

Fareast Islami Life Insurance and SSL Wireless sign deal

DMD of Fareast Islami Life Insurance Company Ltd. Dr. M. Mosharraf Hossain and Sayeeful Islam, MD of SSL Wireless signed an agreement yesterday whereby SSL will provide mobile based services to Fareast Islami Life Insurance Co policy holders. Policy holders will register their mobile numbers and will be benefited by accessing a host of policy related information services from mobile phones from any location in the country at any time of the day or night. Initially policy holder will receive reminder of premium due date, premium amount and other primary information regarding their policy through 6969 short code number.

Sayeeful Islam stated that gradually many other services will be provided with this solution. Mobile banking, premium payment, bill payment, mobile account recharge and other mobile based services will be available for the FILIC customers. To build customer loyalty occasional greetings, birthday wishes can also be sent using this solution. The agreement was considered a benchmark in M-Insurance service.

Fareast Board chairman Md. Nazrul Islam, Managing Director Md. Ali Hossain, Chairman-Executive committee Al-Haj M. Tajul Islam, Dr. Iffat Jahan and senior executives of both the organizations were also present during this ceremony.

Import-export at Benapole suspended for 2 hours

Import and export activities between India and Bangladesh through Benapole land port remained suspended for about two hours yesterday after four Bangladeshi truck drivers were manhandled by Indian border guards.

Customs Cargo Officer A Quddus said Indian Border Security Force (BSF) members indiscriminately beat up the four Bangladeshi truck drivers when they were returning home after unloading goods at the Indian land port of Petrapole port at about 11am. Protesting the manhandling, Bangladeshi truck workers forced the suspension of import-export activities through Benapole port. Activities at the port resumed after Indian Customs and BSF officials in a meeting with Benapole Customs and BDR officials assured of taking steps against the concerned BSF members.

Bangladesh truck workers warned that they would announce tough programmes if BSF continue to torture Bangladeshi truck workers in future.

Takaful Islami Insurance holds board meeting

BUSINESS REPORT

The 34th meeting of the Board of Directors of Takaful Islami Insurance Limited was held on June 28 at the head office of the company.

Chairman of the company Professor Md Fazle Azim presided over the meeting which was attended by all the members of the board along with the Managing Director of the company Abul Kashem Chowdhury.

The meeting discussed various issues pertaining to development of business of the company and expressed satisfaction over the progress so far made despite various constraints. After reviewing performance, the board took some important decisions with guidelines for the growth of business of the company.