Pubali Bank promotes 22 AGMs to DGM

Twenty two Assistant General Managers of Pubali Bank Ltd were promoted to Deputy General Manager (DGM) as recognition for their outstanding performance in the profession. AGM to DGMManaging Director and CEO of Pubali Bank Ltd Helal Ahmed Chowdhury handed over the promotion letter to the newly promoted DGMs as chief guest in a ceremony held in the city recently. Helal Ahmed Chowdhury urged everyone to work sincerely and honestly. He added that one could become successful banker by exploring skills and talents at the highest level through ...

Robi reports 1pc revenue growth for 3rd quarter

Robi Axiata Ltd., one of the leading mobile phone operators in the country, has reported a slowdown in revenue growth at 1 per cent between Q2 and Q3 for 2013. This was revealed at a press briefing, organized at Robi Corporate Office in the city on Thursday. Robi Chief Financial Officer, Mahtab Uddin Ahmed, who presented the results, attributed the growth slowdown to “lower average call rates due to heightened price competition in the market.” EBITDA (Earnings Before Income Tax Depreciation and Amortization) margins, however, improved to 40.2 per cent in part due to lower subscriber acquisition cost and improved efficiency in OPEX. “Reduction of SIM Tax only improved profitability marginally,” the CFO added.

Nouman receives Gusi Peace Prize

The Bangladeshi rights activist, AHM Nouman has received the Gusi Peace Prize International Award- 2013 in recognition to his contribution to poverty alleviation and humanitarianism. Gusi Peace Prize Foundation, an Asian foremost prize giving body based in Manila, gave the award. A total of 17 dignitaries with international repute including President, Former Prime Ministers and Saudi Prince were honoured with the prestigious award at the 12th award giving ceremony at the Philippines International Convention Centre (PICC) on Wednesday. Nouman, secretary general and founder of Development Alternative of the Rural Poor (DORP), a national NGO, introduced maternity allowance in 2005 for poor mothers in Bangladesh. Encouraged by its success, the government is now implementing it across ...

Bangladesh key economic indicators – Nov 28

DAILY INDICATORS

Wednesday Previous Taka/US $ (inter-bank) 77.75-77.7525 77.75-77.7525 Call money rate (inter-bank) 06.00-07.75 05.50-08.00 Dhaka Stock Exchange index 4,268.66 4,277.55 ------------------------------------------------------------ indicator MONTHLY CURRENT PREVIOUS Growth in: Consumer price index (BBS) Change yr/yr (pct) Oct. 7.03 7.13 M2 supply (bln taka) (BB) Sept. 6,267.23 6,199.89 Forex reserves ($bln)(BB) Oct. 17.35 16.15 Exports(FOB) ($mln)(BB) Sept. 2,590.24 2,031.44 I...

BB initiates CoFI to ensure market discipline

Bangladesh Bank (BB) has introduced the cost of funds index (CoFI) for non-banking financial institutions (NBFIs) aiming to ensure market discipline. "The CoFI will strengthen the liquidity management of NBFIs which will also help them build future capability," said the central bank Governor Dr Atiur Rahman, while inaugurating the CoFI on the central bank's website at its auditorium in the city Wednesday. He said all the banks will come under the process very soon as necessary preparations are going on. The BB Governor said: "We have launched the CoFI as the first country in the sub-continent and it is part of our ongoing automation and digitalisation process."

GDP decelerates for 2nd year in a row to 6pc: WB

The Gross Domestic Product (GDP) growth of Bangladesh has decelerated for the second year in a row to 6 per cent, says a World Bank (WB) report published on Thursday. Disruptions caused by political strife, deepening political tensions relating to the impending political transition and the inadequacies of improvements in the provision of power, gas and infrastructure were the key factors in the growth slowdown. These contributed to weakening investor confidence leading to a 1.2 percent decline in the private investment rate, the report added. wbEcono...
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