Friday, October 13, 2017 BUSINESS

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UNDESA  team meet  FBCCI

Business Report

A mission from Committee for Development Policy (CDP) Secretariat of the United Nations Department of Economic and Social Affairs(UNDESA) today met with the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President M Shafiul Islam at FBCCI in the city.
The mission led by Roland Mollerus, Chief of CDP met with the FBCCI leaders to share the preliminary version of Web based Platform for understanding the Least Developing Countries (LDC) graduation process, said a press release.
Vice President of FBCCI M Muntakim Ashraf and Directors of FBCCI Ms Shomi Kaiser and Dr Kazi Ertaza Hassan also took part in the discussion.
Shafiul Islam briefed the mission on the current economic development of the country and assured the mission of all out cooperation from FBCCI.
The mission also included Inter Regional Adviser on LDC Daniel Gay and Senior Economic Affairs Officer of CDP Matthias Bruckner.

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Business Report

A mission from Committee for Development Policy (CDP) Secretariat of the United Nations Department of Economic and Social Affairs(UNDESA) today met with the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President M Shafiul Islam at FBCCI in the city.
The mission led by Roland Mollerus, Chief of CDP met with the FBCCI leaders to share the preliminary version of Web based Platform for understanding the Least Developing Countries (LDC) graduation process, said a press release.
Vice President of FBCCI M Muntakim Ashraf and Directors of FBCCI Ms Shomi Kaiser and Dr Kazi Ertaza Hassan also took part in the discussion.
Shafiul Islam briefed the mission on the current economic development of the country and assured the mission of all out cooperation from FBCCI.
The mission also included Inter Regional Adviser on LDC Daniel Gay and Senior Economic Affairs Officer of CDP Matthias Bruckner.


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UN lauds Bangladesh economic growth

Business Report

United Nations Development Programme (UNDP) has lauded Bangladesh for its success in economic growth over the recent years.
Magdy Martinez Soliman, Assistant Administrator and Director of the Bureau of Policy and Programme Support of the UNDP expressed the View while speaking at the inauguration session of a seminar at a hotel in New York , the USA, on Tuesday.
“Bangladesh has been able to formulate a policy for overall economic management. As a result, the country has been achieving above 6 percent growth in the recent years,” he said
International think tank the Institute for Policy, Advocacy and Governance (IPAG) organised the seminar titled “Towards Sustainable Development: Lessons from Millennium Development Goals (MDGs) and Pathway for the Sustainable Development Goals (SDGs).
Soliman said Bangladesh has achieved remarkable success in human resources development and enhancing accountability in the public sector.
Bangladesh Finance Minister AMA Muhith also delivered a speech at the seminar.
Muhith said Bangladesh will alleviate poverty completely by 2024 as the country is moving forward to achieve the goal. “We will be able to end poverty by 2024,” he added.
The minister said Bangladesh achieved most of the goals of MDGs by 2015 due to its strong willpower and the country is working to achieve the SDGs using the experience gathered from the implementation of MDGs.
Permanent Representative of Bangladesh to UN and Ambassador Masud Bin Momen, Member of the Planning Commission and Senior Secretary Shamsul Alam, Finance Secretary Mohammad Muslim Chowdhury and Economic Relations Division (ERD) Secretary Kazi Shafiqul Azam, among others, were present as panelists at the seminar.

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Business Report

United Nations Development Programme (UNDP) has lauded Bangladesh for its success in economic growth over the recent years.
Magdy Martinez Soliman, Assistant Administrator and Director of the Bureau of Policy and Programme Support of the UNDP expressed the View while speaking at the inauguration session of a seminar at a hotel in New York , the USA, on Tuesday.
“Bangladesh has been able to formulate a policy for overall economic management. As a result, the country has been achieving above 6 percent growth in the recent years,” he said
International think tank the Institute for Policy, Advocacy and Governance (IPAG) organised the seminar titled “Towards Sustainable Development: Lessons from Millennium Development Goals (MDGs) and Pathway for the Sustainable Development Goals (SDGs).
Soliman said Bangladesh has achieved remarkable success in human resources development and enhancing accountability in the public sector.
Bangladesh Finance Minister AMA Muhith also delivered a speech at the seminar.
Muhith said Bangladesh will alleviate poverty completely by 2024 as the country is moving forward to achieve the goal. “We will be able to end poverty by 2024,” he added.
The minister said Bangladesh achieved most of the goals of MDGs by 2015 due to its strong willpower and the country is working to achieve the SDGs using the experience gathered from the implementation of MDGs.
Permanent Representative of Bangladesh to UN and Ambassador Masud Bin Momen, Member of the Planning Commission and Senior Secretary Shamsul Alam, Finance Secretary Mohammad Muslim Chowdhury and Economic Relations Division (ERD) Secretary Kazi Shafiqul Azam, among others, were present as panelists at the seminar.


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Govt approves proposal to import rice from Myanmar

Business Report

Government’s two highest approving bodies, Cabinet Economic Affairs Committee and the Cabinet Purchase Committee, approved a food ministry’s proposal to import 100,000 tonnes of white rice from Myanmar.
The proposal was first placed in the Cabinet Economic Affairs Committee’s meeting. After the committee’s approval, it received the nod of the Cabinet Purchase Committee as well, officials said, reports UNB.
In the absence of Finance Minister AMA Muhith, Commerce Minister Tofail Ahmed presided over the meetings of both the committees held consecutively at the Cabinet Division on Wednesday. Senior ministers, who are members of the two committees, were present at the meetings.
The Food Ministry placed the rice import proposal as part of its five-year memorandum of understanding (MoU) signed with Myanmar.
Additional Secretary to the Cabinet Division Mustafizur Rahman who briefed reporters about the outcomes of the two meetings, said the Food Ministry is directly importing the rice at a price of $442 per tonne under a government-to-government deal. The import will cost in total Tk 3.66 billion.
However, official documents show the same rice is selling at $435 per tonne in India, $440 in Vietnam and $405 in Pakistan.
Bangladesh signed the MoU with Myanmar during Food Minister Qamrul Islam’s visit to Naypyidaw on September 7 last.
Under the deal, Bangladesh can annually import maximum 300,000 tonnes of rice from Myanmar under the government-to-government arrangement.
The document also reveals that the country’s present stock of rice is 358,000 tonnes and that of wheat 107,000 tonnes.
It mentioned that as follow-up of Food Minister’s Myanmar visit, an 11-member delegation of Myanmar came to Bangladesh on September 17 and held a meeting with a high-level committee, which was formed comprising representatives of different ministries.
Finally, the Myanmar delegation signed an ‘Agreed Minutes of the Meeting‘ and sent a letter confirming the proposed export of 100,000 tonnes of rice to Bangladesh.
Another proposal of the Food Ministry to import 50,000 tonnes non-bashmoti rice also received the approval of the Cabinet Purchase Committee.

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Business Report

Government’s two highest approving bodies, Cabinet Economic Affairs Committee and the Cabinet Purchase Committee, approved a food ministry’s proposal to import 100,000 tonnes of white rice from Myanmar.
The proposal was first placed in the Cabinet Economic Affairs Committee’s meeting. After the committee’s approval, it received the nod of the Cabinet Purchase Committee as well, officials said, reports UNB.
In the absence of Finance Minister AMA Muhith, Commerce Minister Tofail Ahmed presided over the meetings of both the committees held consecutively at the Cabinet Division on Wednesday. Senior ministers, who are members of the two committees, were present at the meetings.
The Food Ministry placed the rice import proposal as part of its five-year memorandum of understanding (MoU) signed with Myanmar.
Additional Secretary to the Cabinet Division Mustafizur Rahman who briefed reporters about the outcomes of the two meetings, said the Food Ministry is directly importing the rice at a price of $442 per tonne under a government-to-government deal. The import will cost in total Tk 3.66 billion.
However, official documents show the same rice is selling at $435 per tonne in India, $440 in Vietnam and $405 in Pakistan.
Bangladesh signed the MoU with Myanmar during Food Minister Qamrul Islam’s visit to Naypyidaw on September 7 last.
Under the deal, Bangladesh can annually import maximum 300,000 tonnes of rice from Myanmar under the government-to-government arrangement.
The document also reveals that the country’s present stock of rice is 358,000 tonnes and that of wheat 107,000 tonnes.
It mentioned that as follow-up of Food Minister’s Myanmar visit, an 11-member delegation of Myanmar came to Bangladesh on September 17 and held a meeting with a high-level committee, which was formed comprising representatives of different ministries.
Finally, the Myanmar delegation signed an ‘Agreed Minutes of the Meeting‘ and sent a letter confirming the proposed export of 100,000 tonnes of rice to Bangladesh.
Another proposal of the Food Ministry to import 50,000 tonnes non-bashmoti rice also received the approval of the Cabinet Purchase Committee.


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Bangladesh drug poised to enter middle-east market

Business Report

Bangladesh’s burgeoning drug industry is set to make its foray into Qatar market sometime next year as part of an effort to focus on the broader Middle East and North Africa (MENA) region.
“As regard the size of the market, Qatar is a country of 2.5 million people only, but since Qatar is the hub of MENA, any inroads in Qatar will definitely expand the market automatically,” Bangladesh ambassador in Doha, Ashud Ahmed told bdnews24.com following a pharmaceutical delegation’s visit to Qatar.
The MENA is a region of countries that includes the area from Morocco in northwest Africa to Iran in southwest Asia and down to Sudan in Africa.
It accounts for approximately 6 percent of the world’s population, 60 percent of the world’s oil reserves and 45 percent of the world’s natural gas reserves. Many of the 12 OPEC nations are within the MENA region.
The 14-member delegation led by the Secretary General of the Association of Bangladesh Pharmaceutical Industries (BAPI) S M Shafiuzzaman also attended a Bangladesh embassy organised seminar on the business opportunities.
During the seminar, the embassy in a statement earlier said, Qatari authorities expressed their keen interest in purchasing Bangladeshi medicines soon.
“Qatar is looking for alternative sources to meet its enhanced demands created because of the ongoing blockade, so their businessmen are exploring possibilities of importing medicines from Bangladesh,” the ambassador said.
“If the interest and momentum that has generated among the medicine importers can be followed up properly and aggressively, it can safely be said that importation of Bangladesh medicine can be started very soon, may be from mid next year,” he told bdnews24.com, in an email response.
Bangladesh, after meeting local demand, exports to a number of countries including the US and the European markets. It also sends some products in the gulf region.
Bangladesh can make generic drugs without any intellectual property rights until 2033 due to its classification as a Least Developed Country.
Qatar is exploring new markets due to the Saudi-led blockade.
Bangladesh has also taken a series of programmes to diversify the present labour-based bilateral relations and to untap the potential of trade, tourism, investment and cultural exchanges.
Representatives of the Amico Laboratories Ltd, Beacon Pharmaceuticals Ltd, Beximco Pharmaceuticals Ltd, Delta Pharma Ltd, General Pharmaceuticals Ltd, Healthcare Pharmaceuticals Ltd, Hudson Pharmaceuticals Ltd, Opsonin Pharma Ltd and UniMed & UniHealth Manufacturers Ltd comprised the Bangladesh delegation in Qatar.

Comment

Business Report

Bangladesh’s burgeoning drug industry is set to make its foray into Qatar market sometime next year as part of an effort to focus on the broader Middle East and North Africa (MENA) region.
“As regard the size of the market, Qatar is a country of 2.5 million people only, but since Qatar is the hub of MENA, any inroads in Qatar will definitely expand the market automatically,” Bangladesh ambassador in Doha, Ashud Ahmed told bdnews24.com following a pharmaceutical delegation’s visit to Qatar.
The MENA is a region of countries that includes the area from Morocco in northwest Africa to Iran in southwest Asia and down to Sudan in Africa.
It accounts for approximately 6 percent of the world’s population, 60 percent of the world’s oil reserves and 45 percent of the world’s natural gas reserves. Many of the 12 OPEC nations are within the MENA region.
The 14-member delegation led by the Secretary General of the Association of Bangladesh Pharmaceutical Industries (BAPI) S M Shafiuzzaman also attended a Bangladesh embassy organised seminar on the business opportunities.
During the seminar, the embassy in a statement earlier said, Qatari authorities expressed their keen interest in purchasing Bangladeshi medicines soon.
“Qatar is looking for alternative sources to meet its enhanced demands created because of the ongoing blockade, so their businessmen are exploring possibilities of importing medicines from Bangladesh,” the ambassador said.
“If the interest and momentum that has generated among the medicine importers can be followed up properly and aggressively, it can safely be said that importation of Bangladesh medicine can be started very soon, may be from mid next year,” he told bdnews24.com, in an email response.
Bangladesh, after meeting local demand, exports to a number of countries including the US and the European markets. It also sends some products in the gulf region.
Bangladesh can make generic drugs without any intellectual property rights until 2033 due to its classification as a Least Developed Country.
Qatar is exploring new markets due to the Saudi-led blockade.
Bangladesh has also taken a series of programmes to diversify the present labour-based bilateral relations and to untap the potential of trade, tourism, investment and cultural exchanges.
Representatives of the Amico Laboratories Ltd, Beacon Pharmaceuticals Ltd, Beximco Pharmaceuticals Ltd, Delta Pharma Ltd, General Pharmaceuticals Ltd, Healthcare Pharmaceuticals Ltd, Hudson Pharmaceuticals Ltd, Opsonin Pharma Ltd and UniMed & UniHealth Manufacturers Ltd comprised the Bangladesh delegation in Qatar.


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MTB inaugurates its Agent Banking Centre

Business Report

Mutual Trust Bank Limited (MTB) has recently opened its Agent Banking Centre at Gazipur Bazar, Sreepur, Gazipur. Syed Rafiqul Haq, Deputy Managing Director & Chief Business Officer (CBO), Mutual Trust Bank Limited (MTB) inaugurated the Centre as Chief Guest through a formal inauguration ceremony.
Group Chief Communications Officer, Azam Khan, Head of  Agent Banking, Madan Mahan Karmoker, Manager, Bagher Bazar Branch, Md. Enayet Hossain of MTB, local elite, leaders of local business associations, people from different strata and other senior officials of the bank also attended the program.

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Business Report

Mutual Trust Bank Limited (MTB) has recently opened its Agent Banking Centre at Gazipur Bazar, Sreepur, Gazipur. Syed Rafiqul Haq, Deputy Managing Director & Chief Business Officer (CBO), Mutual Trust Bank Limited (MTB) inaugurated the Centre as Chief Guest through a formal inauguration ceremony.
Group Chief Communications Officer, Azam Khan, Head of  Agent Banking, Madan Mahan Karmoker, Manager, Bagher Bazar Branch, Md. Enayet Hossain of MTB, local elite, leaders of local business associations, people from different strata and other senior officials of the bank also attended the program.


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Gold prices touch two-week high

Agencies

Gold prices rose to their highest in two weeks on Thursday amid a muted dollar, after minutes from the US Federal Reserve’s September policy meeting revealed low inflation concerns.
Spot gold was up 0.2 per cent at $1,294.29 an ounce by 0338 GMT, after earlier marking its best since Sept. 27 at $1295.45, reports Reuters.
US gold futures for December delivery climbed 0.6 per cent to $1,296.50 per ounce.
Gold is highly sensitive to rising interest rates, as these tend to boost the dollar, the currency in which the metal is priced.
Spot gold may test resistance at $1,299 per ounce, with a good chance of breaking above this level and rising more towards the next resistance at $1,305, Reuters technicals analyst Wang Tao said.
Silver edged up 0.1 per cent to $17.18 an ounce. Platinum was 0.2 per cent higher at $929.55 an ounce, having hit a two-week high in the previous session.
Palladium was unchanged at $959.10 an ounce.

Comment

Agencies

Gold prices rose to their highest in two weeks on Thursday amid a muted dollar, after minutes from the US Federal Reserve’s September policy meeting revealed low inflation concerns.
Spot gold was up 0.2 per cent at $1,294.29 an ounce by 0338 GMT, after earlier marking its best since Sept. 27 at $1295.45, reports Reuters.
US gold futures for December delivery climbed 0.6 per cent to $1,296.50 per ounce.
Gold is highly sensitive to rising interest rates, as these tend to boost the dollar, the currency in which the metal is priced.
Spot gold may test resistance at $1,299 per ounce, with a good chance of breaking above this level and rising more towards the next resistance at $1,305, Reuters technicals analyst Wang Tao said.
Silver edged up 0.1 per cent to $17.18 an ounce. Platinum was 0.2 per cent higher at $929.55 an ounce, having hit a two-week high in the previous session.
Palladium was unchanged at $959.10 an ounce.


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Shahjalal Islami Bank Limited organized a daylong workshop on Anti Money Laundering

Shahjalal Islami Bank Limited organized a daylong workshop on “AML Awareness Development Program for BAMELCOs” at it’s Head Office on 07th October 2017. In the workshop the Executive Director, Bangladesh Bank & Deputy Head of Bangladesh Financial Intelligence Unit (BFIU) Mr. Muhammad Mijanur Rahman Jodder was present as Chief Guest. The total 36 Branches Anti-Money Laundering Compliance Officers (BAMLCOs) of the Bank participated in the workshop.
The Managing Director & CEO of Shahjalal Islami Bank Limited Mr. Farman R Chowdhury and the Deputy Managing Director & CAMLCO Mr. M. Akhter Hossain delivered their Speeches at the workshop and indicated about different measures, preventing methods and increasing awareness on Money Laundering.

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Shahjalal Islami Bank Limited organized a daylong workshop on “AML Awareness Development Program for BAMELCOs” at it’s Head Office on 07th October 2017. In the workshop the Executive Director, Bangladesh Bank & Deputy Head of Bangladesh Financial Intelligence Unit (BFIU) Mr. Muhammad Mijanur Rahman Jodder was present as Chief Guest. The total 36 Branches Anti-Money Laundering Compliance Officers (BAMLCOs) of the Bank participated in the workshop.
The Managing Director & CEO of Shahjalal Islami Bank Limited Mr. Farman R Chowdhury and the Deputy Managing Director & CAMLCO Mr. M. Akhter Hossain delivered their Speeches at the workshop and indicated about different measures, preventing methods and increasing awareness on Money Laundering.


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