Santos quits India due to maritime dispute with Bangladesh
Close on the heels of mining giant BHP Billiton deciding to quit India, Australia’s Santos wants to exit its two oil and gas exploration block in Bay of Bengal due to delays in getting approvals to start work.
Santos, Australia’s third-largest oil and gas producer, was in February 2007 awarded two blocks south-east of Kolkata, has written to the government saying it has not been able to carry out exploration in the area because of defence restrictions and maritime boundary dispute with Bangladesh.
It offered to surrender the blocks NEC-DWN-2004/1 and NEC- DWN-2004/2 on which it has already spent $60 million, reports Business Standard.
Santos had won the blocks, that lie close to Bangladesh border, in the 6th round of New Exploration Licensing Policy.
IBFB suggests adequate measures to safeguard economy
The International Business Forum of Bangladesh (IBFB) and its President Hafizur Rahman urged Bangladesh Bank to take adequate financial measures to safeguard economy and business of the country during the ongoing volatile political situation.
In a recent proposal sent to the Governor of Bangladesh Bank, IBFB strongly suggested some special financial measures such as extending the deadline for CIB Reporting, rescheduling bank loans, reducing lending rate up to 10 per cent or below, bringing down the interest rate spread below 4.0 per cent etc. IBFB, as mentioned in the proposal, strongly believes that in a growing democratic country like Bangladesh peaceful and business friendly environment is a sine qua non for ensuring the development wheel rolling on through which trades and busine...
Airtel signs corporate deal with Golden Harvest
Airtel Bangladesh Ltd, one of the fastest growing mobile service providers of the country, has signed an agreement with Golden Harvest Group, one of the largest local diversified conglomerates focusing on information technology, bulk commodities trading, real estate developments, logistics and food processing, located at Tejgaon in the capital.
Airtel Bangladesh will be providing Golden Harvest Group with best in class mobile solu...
Airtel Bangladesh will be providing Golden Harvest Group with best in class mobile solu...
Money laundering workshop at Bank Asia
Bank Asia has organized a day-long comprehensive training on “Prevention of Money Laundering & Terrorist Financing” for its 41 officers in an effort to improve their professional efficiency.
Syed Nazimuddin, Senior Executive Vice President and Head of Foreign Remittance Department of the bank inaugurated the training program as chief guest at the bank's Corporate Office in the city on Saturday.
Md. Murshid Al-Amin, Vice President and Head of Anti-Money Laundering Department was also present on the occasion.
Bank Asia alway...
Syed Nazimuddin, Senior Executive Vice President and Head of Foreign Remittance Department of the bank inaugurated the training program as chief guest at the bank's Corporate Office in the city on Saturday.
Md. Murshid Al-Amin, Vice President and Head of Anti-Money Laundering Department was also present on the occasion.
Bank Asia alway...
IBBL mourns death of Nesar
Nesar Uddin Ahmad, Assistant Vice President of Islami Bank Bangladesh Ltd died of Liver Serosis and Cancer on Monday (Inna Lillahi Wa Inna Ilaihe Raziun). He was 53. He left behind wife, a son, a daughter and well wishers.
He Joined IBBL in 1985. He was born in 7960 at Krishnakathi village under the Bakergonj upazila of Barisal Diatrict.
Prof Abu Nasser Muhammad Abduz Zaher, Chairman and Mohammad Abdul Mannan, Managing Director of IBBL expressed deep sorrow at his death.
They also expressed sympathy to the bereaved family of the deceased. Doa...
He Joined IBBL in 1985. He was born in 7960 at Krishnakathi village under the Bakergonj upazila of Barisal Diatrict.
Prof Abu Nasser Muhammad Abduz Zaher, Chairman and Mohammad Abdul Mannan, Managing Director of IBBL expressed deep sorrow at his death.
They also expressed sympathy to the bereaved family of the deceased. Doa...
Foreign investment proposals almost halved due to blockade
Looming uncertainty in the political arena and its ultimate consequences through continuous violence on the streets for the last couple of months have restrained foreign entrepreneurs from making fresh investments in Bangladesh.
The number of proposals for fresh investments by foreign entrepreneurs has halved within a month, according to sources, reports the Independent.
The Board of Investment (BoI) received only seven proposals in October against 15 in September this year. The amount of proposed investment against those projects also declined drastically. The foreign companies proposed to invest only $20 million in October against a commitment of $1,915 million in September. The number of local investment proposals also de...
