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BIA holds 26th AGM

The 26th annual general meeting (AGM) of the Bangladesh Insurance Association (BIA) was held in the Hotel Purbani International in the city on Friday. Chaired by Sheikh Kabir Hossain, President of BIA, the meeting was largely attended by the chairmen, managing directors and senior executives of member companies. In the Annual Report, it was stated that the total premium income of private sector life insurance companies rose from Tk. 59,735 million in 2011 to Tk. 62,483 million in 2012 registering a growth of 4.60 per cent. The life fund of the private sector insurance companies increased to Tk. 194,551 million in 2012 from Tk. 164,229 million in 2011. The total investment rosed from Tk. 142,173 million in 2011 to Tk. 166,13...

Bangladesh finalises deals with China for 2 submarines

Bangladesh has finalised a deal to buy two submarines from China as part of its plans to develop a three-dimensional navy, according to a media report today. The two Ming-class submarines are expected to strengthen the navy's ability to protect maritime resources and territorial waters, the New Age newspaper quoted unidentified officials as saying. "The state-to-state deal would cost Bangladesh Taka 1,600 crore or USD 203.3 million to procure the two Ming-class submarines," the report said. submarine

India reduces tariff on onion export to Bangladesh

India has reduced tariff on export of onion to Bangladesh. The revised rate has been fixed at 800 $ per tonne with effect from Friday.  The Indian export authority has instructed the all related departments and offices in this connection. The previous rate of tariff was 1050 dollar. Onion importer Milton Saha from Khulna, who is owner of Sujan Enterprise, said, that the arrival of new consignments of onion in Bangladesh would take at least seven days, and the price would surely come down to Tk 50 per kg in the wholesale market. At presents, it sells at Tk 65. onion

BPC plans to import 1.3m tons of oil in 2014

BPC (Bangladesh Petroleum Corporation) plans to import 1.3 million tons of oil in 2014 for its sole refinery, up more than 8 per cent from a year ago, a senior BPC official said On Wednesday. Next year, 700,000 tons of Murban crude would be sourced from Abu Dhabi National Oil Company. BPC logoBPC, the country’s sole oil importer and distributor, bought around 1.2 million tons of crude from the two national oil companies in 2013 for its Eastern Refinery in port city Chittagong. It ...

India reviews border security along Bangladesh

Indian Border Security Force (BSF) Director General Subhash Joshi Thursday inspected the India-Bangladesh border in Tripura, as New Delhi beefed up security along the border with turmoil-stricken Bangladesh, officials here said. “The BSF DG has directed all senior officials to closely monitor and review security along India’s border with Bangladesh,” a senior BSF official told reporters. Indian BSF personnel patrol a stretch of the India-Bangladesh border on the outskirts of Agartala

IBBL secures 1st award in remittance fair

Islami Bank Bangladesh Ltd (IBBL) was awarded 1st prize among the participating banks in remittance fair on the occasion of International Migrants Day-2013 organized by Ministry of Expatiates’ Welfare and Overseas Employment. SAM_1050Muhammad Golam Rabbani and Md. Shahidul Haq Akand, Vice Presidents of the bank received the crest from Dr. Zafar Ahmed Khan, Secretary, Ministry of Expatiates’ Welfare and Overseas Employment on Wednesday at Bangabandu International Conference Centre in the...
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