local-business
DSE's tribute to Bangabandhu on his birth anniversary
A delegate of Dhaka Stock Exchange led by Chairman Professor Dr. Hafiz Muhammad Hasan Babu paid tribute by placing wreaths at the portrait of Bangabandhu at Dhanmondi 32.
The board of directors, management authority, and employees of DSE paid tribute on the occasion of the 104th birth anniversary of Father of the Nation Bangabandhu Sheikh Mujibur Rahman, according to a press release.
Brigadier Imran Hamid made independent director of DSE
Bangladesh Securities and Exchange Commission (BSEC) has again appointed Brigadier General M Imran Hamid as an independent director of Dhaka Stock Exchange (DSE), the country's main stock market.
The BSEC in an office order said his appointment for the next 3 years will be effective from March 15.
Brigadier Hamid has just completed his three-year tenure in the post.
Islami Bank pays tribute to Bangabandhu’s memorial
Islami Bank Bangladesh PLC paid tribute to the Father of the Nation Bangabandhu Sheikh Mujibur Rahman, at his memorial in Dhanmondi 32, marking his birth anniversary and National Children’s Day on Sunday.
Trade between Bangladesh-India through Hili land port suspended today
FCMA Directors, Freedom Fighter Md Joynal Abedin and Mohammed Nasir Uddin and Md Altaf Hossain, Additional Managing Director of the bank placed a floral wreath on behalf of the Bank, according to a press release issued today.
Top executives, officials, and employees of the bank were present on the occasion.
Trade between Bangladesh-India through Hili land port suspended today
Export-import between Bangladesh and India through Dinajpur’s Hili land port remained suspended on Sunday marking the birth anniversary of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman and National Children’s Day.
However, movement of travellers through the land port remains normal.
Harun-Ur-Rashid, president of Hili Land Port Importer-Exporter Group, said trade through the border remained suspended due to the public holiday on the occasion of the birth anniversary of the Father of the Nation.
Trade through the land port will resume from Monday, he said, adding that they informed their Indian partners about the closure through a letter earlier.
SM Haider, assistant manager of the land port’s private operator ‘Panama Hili Port’, said goods from Indian trucks at the port will be unloaded on Monday.
Sheikh Ashraful, Officer-in-Charge (OC) of Hili Immigration Check Post, said although trade between the countries was suspended, traveller movement will remain as usual from 9 am to 6 pm.
Walton brings country’s first 6-star energy rating AC
Bangladeshi electronics giant ‘Walton’ has released BSTI’s 6-star energy rating certified split type air conditioner in the domestic market. In Bangladesh, only Walton brand ACs have achieved the BSTI’s 6-Star and 5.5 Star energy rating certificates.
It is the most energy-efficient AC in South Asian countries, according to a media statement.
Only Walton AC has a 5-inch TFT color display that shows various important information including running data, performance, timing, and indoor and outdoor temperature of AC.
Walton AC can be controlled from anywhere through IoT smart control system using smart apps solution function and electricity bills are also calculated easily using the apps. Beside any defects of AC can be diagnosed through smart diagnosis system, reads the release.
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In this summer, customers are offered ‘nonstop millionaire’ on the purchase of Walton AC from any Walton Plaza, distributor outlet or online sales platform ‘E- plaza’ across the country under the Walton’s digital campaign Season-20.
Besides, crores of taka sure cashback are also available. Customers will enjoy the benefits of season-20 from March 1 to till further announcement.
Under the Walton’s AC exchange offer, customers can purchase Walton’s brand new model of split ACs with maximum Tk 23,000 discounts in exchange of their old or used ACs of any brands.
Walton AC’s Chief Business Officer (CBO) Tanvir Rahman said, “Walton is manufacturing and marketing high standard ACs with world’s largest numbers of features. In continuation of this service, Walton has released the country’s first BSTI 6-star energy rating and South Asia’s most energy efficient AC for customers in the market. The price of this new model of AC is set at Tk 65,000.”
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He added that customers can check the energy efficiency of Walton AC by contacting Walton’s nearest sales point, service center or call center at 16267.
Walton AC’s customers are getting one year replacement facility, 10-year guaranty on compressor, 3-year warranty on spare parts and 1-year free after sales service.
Walton provides swift and fast after-sales service to AC customers through 82 service points across the country under the ISO Certified Service Management System along with 300 service partners.
The skilled and experienced engineers and technicians of Walton are providing free service to AC buyers in every 100 days, added the release.
Read more: Air Conditioner Brands, Buyer Guide, Models, with Price in Bangladesh
BRAC Bank Reading Café engages with 'Protishwor'
BRAC Bank Reading Café recently hosted a discussion on ‘Protishwor’, an anthology that mirrors the diverse talents within BRAC Bank itself.
This collection, comprising short stories, poems, travelogues, satires, and essays, has been penned by the bank's coworkers, showcasing their multifaceted literary prowess.
The event held on February 29 saw enthusiastic participation from members of the Reading Café, a testament to the vibrant culture of reading and literary engagement that BRAC Bank fosters.
Many participants, who are authors themselves, delved into the depths of the anthology, reading aloud from the poems and engaging in thoughtful analyses of the other works.
The session was a reflection of their literary talents and a celebration of the creative spirit that thrives within the organization.
Selim R.F. Hussain, the Managing Director and CEO of the bank, commented, “At BRAC Bank, we believe that a strong culture of reading enriches our perspectives, nurtures empathy, and fosters a sense of community. ‘Protishwor’ is not just a book; it reflects our collective intellect and imagination.”
”By encouraging our coworkers to explore literature and express themselves, we are building a more cohesive team and contributing to a more thoughtful and creative society”, he said.
The Reading Café is a testament to our commitment to these values, and I am proud of the vibrant literary culture we have cultivated at BRAC Bank, he added.
This session underlines BRAC Bank's dedication to promoting a culture of intellectual engagement and creative expression among its workforce.
It exemplifies how literature can serve as a powerful tool for community building and personal growth, resonating with the bank's continuous learning and development ethos, said a press release of the BRAC Bank.
Pangaon Terminal to be profitable soon: Salman F Rahman
Pangaon Inland Container Terminal (ICT) to be made a profitable institution soon, Prime Minister's Private Industry and Investment Adviser Salman Fazlur Rahman said on Saturday.
"All necessary initiatives would be taken to turn Pangaon Terminal into a more profitable institution including cargo exchange by river," he said.
He was speaking while visiting the port in the morning to monitor the current situation.
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Minister for Environment, Forests and Climate Change Saber Hossain Chowdhury, Chief Whip Noor-E-Alam Chowdhury and State Minister for Shipping Khalid Mahmud Chowdhury and senior officials of the port were also present.
He said that the problem related to the handling operations of the terminal would be resolved within one month. When more cargo is anchored at the terminal, workers will get more work and then their problem will be solved.
"The government is working so that more containers come to this terminal," he added.
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In this regard, he assured all sorts of support to resolve the problems.
"Today, we have identified the problems of the port and hopefully to solve them soon," he said.
"We've been able to identify the problems centering this terminal and hopefully we'll be able to resolve the problems soon," he added.
Japan and Bangladesh need to work more for better business environment: Japanese Ambassador
Ambassador of Japan to Bangladesh Iwama Kiminori said on Thursday that the Economic Partnership Agreement (EPA) and the Public Private Economic Dialogues (PPED) between Japan and Bangladesh are the two organs to move forward the business environment in the years to come.
“We have to move forward to the continual dialogue between the two governments on the business environment,” he said.
The ambassador said this while speaking as the chief guest at the opening ceremony of the new office of HmAC on Wednesday.
He also uncovered a book “Taxation Handbook for Investors in Bangladesh” prepared by Howlader Maria & Co.
Japan recognises the paramount significance of Bangladesh's development acknowledging its role in shaping the business destiny, he said.
A growing number of companies are redirecting their focus to Bangladesh. Japan Bangladesh Chambers & Commerce of Industry (JBCCI) and JETRO Bangladesh offer valuable advice to companies in navigating the complexity of Bangladesh.
The synergistic collaboration between the Japanese Business Circle along with the embassy of Japan is manifested through a concerted effort to ensure a comprehensive and seamless support structure for companies venturing into Bangladesh, according to a press release.
Industries can benefit from installing rooftop solar with its declining cost: Speakers
Speakers at a webinar on Thursday said that industries can benefit from installing rooftop solar as its power generation cost is significantly declining.
"Now industries can reduce their cost to Tk 5.88 per unit (each kilowatt hour) for electricity by rooftop solar,” Shafiqul Alam, lead analyst of the Institute for Energy Economics and Financial Analysis (IEEFA) South Asia, told the webinar titled: "Scaling Up Rooftop Solar Deployment in Bangladesh".
Currently, per unit electricity is charged Tk 10.88 for big industries and 10.76 small industries.
Alam claimed a combined rooftop solar of 2000 MW can help Bangladesh save between $476 and $1billion per annum.
Energy and Power magazine and the IEEFA South Asia jointly organised the virtual seminar which was addressed by Director General of Power Cell Mohammad Hossain, former Dean of BUET Prof Dr. Ijaz Hossain, Executive Director and CEO of IDCOL Alamgir Morshed, President of Bangladesh Solar and Renewable Energy Association (Bsrea) and Director of Energypac Power Generation Ltd Md. Nurul Aktar.
Energy and Power's editor Mollah Amzad Hossain moderated the webinar.
In a presentation, Shafiqul Alam said solar can help reduce load shedding but people are still either unaware or doubtful of the benefit of the rooftop solar system.
He observed that lack of support from banks and financial institutions has been a bottleneck for promotion of renewable energy across the country.
"Only state-owned Infrastructure Development Company (IDCOL) considers rooftop solar as a priority in the financing while other institutions and banks do not", he said.
Mohammad Hossain said that after the introduction of the net metering system, rooftop solar is getting popular and people are showing interest in installing rooftop solar as they benefit in their billing.
He also said Korean EPZ has installed a 40 MW rooftop solar system which is the highest in the world as a single system.
Under the net metering system, consumers can sell their unconsumed electricity to the utilities through the grid, he added.
Prof Dr. Ijaz Hossain said that what is happening in rooftop solar is frustrating as the grid-related people are not very interested in renewable energy, specially, grid-tied rooftop solar systems.
"The people working with the grid fear that they would not be able to manage the grid if 2000-3000 MW solar comes into the system", he observed.
Executive Director and CEO of IDCOL Alamgir Morshed said so far his organisation has financed a total of 50 MW rooftop solar projects and has a target to finance 300 MW projects by 2025.
Change of auditor firm in accordance with law: BASIS President
Members of Bangladesh Association of Software and Information Services (BASIS) are criticising the step to change its auditor firm without approval at the annual general meeting of the organisation.
The Basis Board of Directors appointed an audit firm, Mijan & Co. to conduct the audit while a firm named Adhikari & Co. was appointed as an auditor later.
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However, Basis President Russell T Ahmed has said the interest of BASIS members are their top priority.
"We changed the auditor firm following the legal norms to protect the interests of the organisation. It was decided that Basis should be audited by an audit firm named Mijan & Co. But when the company later shared their unwillingness to complete the job due to unavoidable circumstances, a company named Adhikari & Co. was given the responsibility for auditing per the law. Adhikari & Co. received the due NOC from Mijan & Co. in accordance with the rules," he said.
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Russell T Ahmed said that if the appointed auditor is unable to perform duties for whatsoever reason, the company law of Bangladesh requires appointment of a new auditor.
He also said they had spoken to the Auditor Regulatory Council, BASIS senior members, relevant legal experts, and various stakeholders in this context.
"Following several mandatory legal procedures and to protect the interests of BASIS, we have changed the auditor firm. Why and in what process have we done this work? We will present the matter in detail before the general members at the AGM to be held on March 16," he added.
BASIS SoftExpo 2023 begins February 23
In this regard, Barrister Kazi Ershadul Alam, an expert in corporate law, said that changing the auditor firm of BASIS was not illegal. However, it has been irregular, which should be brought in order and be regularised in general meetings later.