The New Nation - Internet Edition

6 ocean-going vessels to be handed over to Mozambique govt Nov 13

NATION BUSINESS REPORT

Six ocean going vessels, built in Bangladesh, will be handed over to the government of Mozambique on November 13.

Ananda Shipyard and Shipways Ltd (ASSL), one of the premier ship building companies of the country, has built these ships at a cost of eight million US dollars.

Speaking at a press conference at the Dhaka Reporters Unity (DRU) in the city yesterday, Chairman of ASSL, naval architect Dr Abdullahel Bari said that the ships will be handed over to the Mozambique authorities on the premises of the shipyard at Meghnaghat under Sonargaon upazila in Narayanganj district.

Shipping Adviser Major General (Retd) MA Matin is expected to attend the handing over ceremony as the chief guest, Bari said.

The six vessels, equipped with international standard machineries, have been built at a cost of eight million US dollar, he said, adding that another ship will be exported to Denmark in the first quarter of January next.

Ananda Shipyard Ltd has so far received 373 million US dollar export orders for building 22 vessels for various countries, including Denmark, Germany and Mozambique.

Speaking on the occasion, Managing Director of the group Afroza Bari said, Bangladesh has been recognized as a ship-exporting country in the world with the delivery of the first of ocean going vessel on May 15 this year.

The country has already witnessed a huge employment opportunities in the ship building sector by creating confidence of the country's skilled engineers and easy training modules for the workforce, said Afroza Bari.

The press conference was also attended, among others, by company directors Alauddin A Mazid (Finance), Fahmida Bulbul Kakoli (Establishment), Rakibur Rahman Chowdhury (administration) and Saiful Islam (Technical).

HSBC arranges outing for children of School of Hope

NATION BUSINESS REPORT

The Hongkong and Shanghai Banking Corporation (HSBC) Ltd in Bangladesh recently arranged an outing for the children of School of Hope at Wonderland Park in the city's Gulshan.

One hundred children from the School of Hope were treated to rides, lunch and fun-filled activities.

HSBC organised the event which was attended by over 20 staff including HSBC Bangladesh CEO Sanjay Prakash.

School of Hope operates outside of Baridhara in the slums and only accepts children from underprivileged families.

At the school the children receive fresh food and fruit daily as well as a quality education in years KG through 5.

HSBC has been associated with the school since 1997. The bank has donated more than Tk 2.1 million to the school so far for paying teachers' salaries, procuring educational materials, operational cost etc.

In addition, the bank has sponsored the school's annual sports day, music literacy projects, helped paint the school and taken the children to various places of interest.

Funded exclusively by donations from abroad, local fund-raising and HSBC, the School is demonstrating the value that a basic education can have on the future of young minds.

UK's NRBs keen to invest in Bangladesh

NATION BUSINESS REPORT

Non-Resident Bangladeshis (NRB), residing in the United Kingdom (UK), are keen to invest in the country's potential sectors including food processing, IT, Power and SMEs as presently a investment friendly atmosphere are prevailing here.

"If the next elected government can sustain the present business friendly atmosphere, the country will get investment not only from the NRBs also as Foreign Direct Investment (FDI)," said Shahgir Bakht Faruk, Chairman of Bangladesh-British Chamber of Commerce (BBCC) at a press conference at a city hotel on Sunday night.

Faruk is leading a 30-memebr British business delegation comprised of NRBs of UK, who have already been succeeded in their respective fields of business. The visiting delegation, arrived on Sunday will lobby with the Bangladesh government for further relaxation of foreign investment policy as they could make hassle and harassment free investment here, he said.

During their visit up to November 17, the delegation members will hold meeting with the president, the chief adviser, foreign affairs and other advisers, army chief and British High Commissioner to Bangladesh, Faruk said.

He said they would approach chambers and government officials with the proposal to provide "One-stop Facilities" to eliminate unnecessary barriers to investment in Bangladesh.

They would also like to finalize the proposed Sylhet Special Economic Zone and to make decision what kind of industries they would build there, Faruk said.

Director General of BBCC Abssar Mohammad Waess said, during their trade mission, they would also encourage the Bangladeshi businessmen to invest in the UK markets.

"We are confident that the BBCC Trade Mission 2008 will be springboard for business networking, sharing of culture and greater prospects for further investment projects between the UK and Bangladesh," he said.

Among the members of the delegation, BBCC vice chairman ATM W

Saad Ghazi, London regional president, Mohib Uddin Choudury, Scottish Regional president M A Rouf and Ranjana Chowdhury also spoke on the occasion.

IFIC Bank holds workshop

IFIC Bank Ltd conducted a daylong workshop on 'Marking to Market Revaluation of Treasury Bills and Bonds held by Banking Companies' on November 8, 2008 at its Academy at Chamber Building, Motijheel, Dhaka. A total number of 24 senior executives and officers from the head office attended the workshop.

Mohammad Abdullah, Deputy Managing Director inaugurated the workshop and delivered his speech before the participants stating the importance of Marking to Market revaluation of Treasury Bills and Bonds. Debaprosad Debnath, Deputy General Manager of Bangladesh Bank and Md Aminur Rahman, Asstt Director of Bangladesh Bank were the key speakers.

It may be mentioned here that this was the 28th programme of IFIC Bank Academy in the year 2008.

Workshop Directors were Md. Abu Tayeb, SVP and In-charge of Training and Research, Abu Naser Al-Razi, FVP and In-charge of TBO and Omar Sharif, Senior Staff Officer.

Exporters get $59m in spot orders at Batexpo

UNB, Dhaka

Bangladesh received spot orders for garments worth $59.47 million from foreign buyers at the just-concluded Bangladesh Apparel and Textile Exposition (Batexpo).

According to a press statement of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), the exporters received spot orders for fresh apparels worth $55.45 million and stock-lot garments worth $4.02 million.

Some 10,075 people visited the fair this year.

Chief Adviser Fakhruddin Ahmed inaugurated the three-day Batexpo, the largest annual exposition of garment products, on Thursday.

The army chief, General Moeen U Ahmed, attended the closing ceremony of the Batexpo-2008 at the city's Sonargaon Hotel as the chief guest.

Moeen distributed awards to some entrepreneurs and organisations for their outstanding contribution to their respective fields.

A total of 82 stalls from home and abroad took part in the 19th Batexpo to showcase their products.

BGMEA held some important seminars relating to the RMG sector on the sidelines of the three-day event.

REHAB Fair begins today

NATION BUSINESS REPORT

The five-day REHAB Fair, Dhaka 2008 begins at Bangladesh-China Friendship Conference Centre in the city today (Tuesday).

Housing and Public Works adviser Ghulam Quader will inaugurate the fair at 11:00am as chief guest while Housing Secretary Rashidul Hai will attend the inaugural function as special guest.

The fair will remain open to visitors from 10:00am to 8:00pm every day and the entry coupons of the visitors, who will make their bookings in the fair, will be eligible for the raffle draw to be held on November 16.

A total of 192 stalls - 187 for the REHAB members and five for housing financing organisations-will be set up at the fair. The highest number of organisations is going to participate in REHAB Fair.

It was held seven times in Dhaka since 2001 and two times in Chittagong in 2006 and 2007.

Real Estate and Housing Association of Bangladesh started observing the 'REHAB Week 2008' from yesterday and has drawn up various programmes marking the week.

The programmes include rally from Central Shaheed Minar to Shishu Academy at 7:00am on Monday, seminar at BCFCC at 7:00pm, inaugural function at 11:00am on Tuesday, extempore speech for college students at 11:00am on Wednesday, distribution of REHAB gold medal at 7:00pm on Thursday, painting competition for children at 11:00am on Friday, daylong blood and posthumous eye donation on Saturday and the concluding ceremony at 7:00pm on Sunday.

Some 453 REHAB members continued working for a planned city.

The REHAB leaders urged the government to reduce the registration cost to assist the people in fulfilling their demand for accommodation in the city.

About increase in membership, REHAB president Tanveerul Haque Probal said they had already prepared 'code of conduct' for the members and those, who won't follow it, would lose their membership.

New premises of Zindabazar branch of National Bank inaugurated

NATION BUSINESS REPORT

The new premises of Zindabazar Branch of National Bank Ltd. at West World Shopping City (lst & 2nd floor), Jallarpar Road, West Zindabazar, Sylhet inaugurated recently.

Md. Abdur Rahman Sarker, Managing Director of the bank formally inaugurated the new premises.

To provide better services to the clients in better environment the Bank has shifted their old premises, 1187, Zindabazar, Idresh Market (1st floor) Zindabazar, Sylhet to their new address.

A discussion meeting was held on the occasion.

Some clients and elites of the locality were also present and spoke on the occasion.

The function was presided over by Ziaus Shams Chowdhury, Executive Vice President and Regional Head, Sylhet and Mohammad Habibur Rahman, Manager of Zindabazar Branch delivered welcome speech.

Orientation of 'Fall Semester MBA Program' of NUB held

Speakers at the orientation ceremony of 'Fall Semester MBA Program' III 'Northern University Bangladesh' emphasised the significance of taking international standard education with a view to change the overall shape of the country.

The ceremony, presided by Professor M.A. Razzak, Dean & Head of Business Faculty of NUB, was held at a local restaurant on Friday morning while Vice Chancellor of NUB, Professor M. Samsul Haque was present as the chief guest.

Lutfur Rahman, Director (HRD) and University Register, and Dr Jahirul Haque Bhuiyan were present as special guests.

Addressing the ceremony, Professor Samsul Haque stressed the need for finding out accurate strategy to get rid of the various problems of our life. "Students can cooperate remarkably in changing the shape of country through developing themselves with international standard education," he said adding that NUB is offering top quality education in a competitive expenditure.

Lutfur Rahman said NUB is conducting different disciplines with a view to promote quality education across the country. NUB will offer MBA programme on Islamic Banking and Finance soon, he added.

Professor Mostafa Kamal of NUB and senior participant Major Syed Golam Mostafa and Nurul Alam were also spoke with among others while a number of Executive and regular MBA students were present on the occasion.

Seminar on 'Doing Business with China' held in city

School of Business Studies of Southeast University (SEU) organised a seminar on 'Doing Business with China' on November 6 last at Seminar Hall of the university.

Prof Dr Wang Guo An, Vice-Director, International Affairs, Zhejiang Gongshang University, China presented the keynote paper at the seminar.

Prof Dr Syed Masud Hussain, Dean, School of Business Studies was the chairman of the seminar. Prof Dr M Shamsher Ali, Vice-Chancellor of Southeast University was present as the chief guest and Prof Abu Ahmed, Pro-Vice Chancellor of SEU attended as special guest at the programme.

Dr Helal Uddin Ahmed, Chairman, Department of Business Administration also addressed the seminar.

Two StanChart executives arrive in Dhaka

Two senior executives of the Standard Chartered Bank arrived in Dhaka Saturday on a two-day visit to review Standard Chartered Bank's business and strategies in Bangladesh and meet regulators, business leaders and corporate clients.

They are Bala Swaminathan, senior managing director and regional head, origination and client coverage, South East and South Asia, and Daniel Koh, head, global markets, South East Asia.

They are based in Standard Chartered Bank, Singapore, and are responsible for South and South East Asian wholesale banking business.

CSE will soon introduce Next Generation Trading System

NATION BUSINESS REPORT

Nasiruddin Ahmed Chowdhury was reelected president of the Chittagong Stock Exchange (CSE) at a meeting of the new board of directors after conclusion of its 13th annual general meeting (AGM) held on Sunday.

Fakhor Uddin Ali Ahmed, Al Maruf Khan and AQI Chowdhury were also reelected vice presidents for the year 2009.

Speaking at the AGM held at the CSE's premises, the reelected president vowed to introduce Next Generation Trading System (NGTS) to facilitate Equity Market, Debt Market, Futures and Options Market, Commodity Market, IPO, Book Building and others.

He said, "There would be facilities for trading through internet, wireless and mobile phones and also brokers' in-house systems. The proposed NGTS will lift CSE to an international standard."

"We are working very closely with SEC, CDBL and DSE to reduce the time requirement for IPO processing and making it more investor friendly. Under the new proposal, investors will be allowed to apply for IPO issues by paying only 25 per cent of the face value of shares."

In the AGM, Mirza Salman Ispahani, AQI Chowdhury, Al Maruf Khan and ASM Nayeem retired from the CSE board and were unanimously reelected directors of the bourse for another three-year term to 2011.

The elected Directors of the Board are Nasiruddin Ahmed Chowdhury, Fakhor Uddin Ali Ahmed, Al Maruf Khan and AQI Chowdhury, Abu Sayed, Md Shahidullah, ASM Nayeem, Bijan Chakroborty, Mirza Salman Ispahani, MKM Mohiuddin, Mohammad Fakhruddin, Md Siddiqur Rahman and Tareq Kamal.

Prof Abu Ahmed, Engr. Ali Ahmed, Amir Humayun Mahmud Chowdhury, Anis A Khan, Farooq Sobhan, Mamun Rashid, Md. Sarwar-E-Alam, Prof Rabiul Husain, Aftabul Islam and Safwan Choudhury were among the non-elected Directors.