Thailand, Vietnam go for parboiled rice production for Bangladesh

Exporters in Thailand and Vietnam, world's top two rice sources, are now selling to Bangladeshi importers parboiled rice, which has not been a traditional item in their export basket. Bangladeshi importers and bankers said parboiled rice procurement from Thailand and Vietnam had increased sharply in the recent months as availability of this category of rice increased there. Tipu Sultan, a leader of Bangladesh Rice Importers' Association, told New Age on Friday...

Foreign assistance target for next ADP set at Tk 188.85b

The government has set the foreign assistance target for the next Annual Development Programme at Tk 188.85 billion, attaching top priority to infrastructure project development. Economic Relations Division officials said the target was set last week based on the demands made by government ministries and agencies for implementing their ongoing projects as well as those in fiscal year 2011-12. The foreign assistance target for the next ADP is Tk 69.55 billion...

BRAC Bank opts for Oracle Fusion Middleware

BRAC Bank has recently chosen Oracle Service Bus for Financial Services and Oracle WebLogic 11g, part of the Oracle Fusion Middleware products family, as a platform to help modernise its banking operations. Oracle Service Bus for Financial Services will enable BRAC bank with a flexible infrastructure to integrate various third party applications, while providing the IT team with the ability to centrally configure polices and ensure security of the exposed services,...

Japanese co to invest $5.6 million in Bangladesh

CG Fashions Limited, a Japanese company, will set up a readymade garment industry in the Adamjee Export Processing Zone investing $5.6 million. The foreign-owned company will also create employment opportunity for 1,399 Bangladeshi nationals, said a news release. An agreement to this effect was signed between the Bangladesh Export Processing Zones Authority and CG Fashions Limited at BEPZA Complex on Monday. BEPZA member (investment promotion) Md Moyjuddin Ahmed...

Dhaka joins in seafood expo in Brussels today

A three-day seafood fair titled 'European Seafood Exposition' begins today in the Belgium capital of Brussels. Two-man delegation of the Export Promotion Bureau will participate in the exposition, the world's largest seafood show. Members of the Bangladesh Frozen Foods Exporters Association will display an array of sea fish especially known as black gold. Commerce minister Faruk Khan will lead the delegation, which will be accompanied by a 30-member business delegation....

GP posts Tk 2,067cr revenue earnings in Q1

Grameenphone Limited contributed Tk 944 crore in revenue to the public exchequer in 2010, its chief financial officer Raihan Shamsi told a press briefing at a city hotel on Monday. He said the mobile operator had contributed a total of Tk 19,446 crore in revenue to the national coffers in the last 14 years. Grameenphone's revenue earnings in the first quarter of 2011 stood at Tk 2,067 crore, posting a Tk 363 crore or 21.3 per cent rise from that in the corresponding...

Tax lawyers for imposing property tax

Tax lawyers on Monday proposed imposing property tax in the forthcoming national budget. Jatiya Kar Ainjibi Samity president Zakir Hossain said, 'The wealth tax, which was once imposed, has been withdrawn for the benefit of the wealthy people.' 'As a result, the public exchequer has been losing a large amount of revenue every year,' he told a press meet organised by the JKAS, the national forum representing tax consultants, at the National Press Club to present...