IPDC Finance Ltd recently witnessed the appointment of a new chairman.
The appointee, Kazi Mahmood Sattar was an independent director and chairman of the board executive committee of Brac Bank, a press release said.
For all latest news, follow The Daily Star’s Google News channel.
Sattar started his career with ANZ Grindlays Bank in 1981.
During his 40-year-long career, he also worked in Eastern Bank and City Bank as a managing director and chief executive officer.
He is currently chairman of RSA Advisory Ltd and Blue Wealth Assets Ltd and a member of the board of directors of bKash.
Apple
Google
Click to comment
The Daily Star
| বাংলা
১ ঘণ্টা আগে|করোনাভাইরাস
রাজধানীর ভাসমান জনগোষ্ঠীকে টিকা দেওয়া শুরু
রাজধানী ঢাকার ভাসমান জনগোষ্ঠীকে করোনা টিকা দেওয়া শুরু করেছে সরকার। রোববার রাত পৌনে ৮টার দিকে কমলাপুর রেলস্টেশনের ভাসমানদের টিকা দেওয়া হয়।
১২ ঘণ্টা আগে|শ্রদ্ধাঞ্জলি
বিদায় গানের পাখি…
Organisation News
Nokia posts strong profit in 2021
AFP, Helsinki
Fri Feb 4, 2022 12:00 AM Last update on: Fri Feb 4, 2022 01:35 AM
Finnish telecoms giant Nokia reported a solid increase in profits in 2021 on Thursday and issued a confident outlook for the coming years as sales rose despite supply problems.
“I would like to call it a transformational year,” CEO Pekka Lundmark told reporters after the group posted a net profit of 1.6 billion euros ($1.8 billion), driven by a 1.6 per cent increase in sales to 22.2 billion euros.
For all latest news, follow The Daily Star’s Google News channel.
The results follow a string of quarterly earnings surprises for the network equipment maker, which has been flagging in the race for the 5G network equipment market against Sweden’s Ericsson and China’s Huawei.
Since taking the helm in 2019, Lundmark has overseen a wide-ranging restructuring and cost-cutting programme, with savings invested into developing new, more competitive products.
Apple
Google
Click to comment
The Daily Star
| বাংলা
১ ঘণ্টা আগে|করোনাভাইরাস
রাজধানীর ভাসমান জনগোষ্ঠীকে টিকা দেওয়া শুরু
রাজধানী ঢাকার ভাসমান জনগোষ্ঠীকে করোনা টিকা দেওয়া শুরু করেছে সরকার। রোববার রাত পৌনে ৮টার দিকে কমলাপুর রেলস্টেশনের ভাসমানদের টিকা দেওয়া হয়।
১২ ঘণ্টা আগে|শ্রদ্ধাঞ্জলি
বিদায় গানের পাখি…
Organisation News
Nurjahan Group owner barred from leaving country
Staff Correspondent, Chattogram
Fri Feb 4, 2022 12:00 AM Last update on: Fri Feb 4, 2022 01:27 AM
The Money Loan Court in Chattogram has barred Nurjahan Group owner Zahir Ahammed from leaving the country in a case filed in connection with defaulted loans of Tk 118.5 crore.
A ruling was issued on Wednesday against Ahammed, also the managing director of M/S Ahammed Traders, a concern of Nurjahan Group, based on the case filed by the Khatunganj branch of National Bank Ltd on January 22, 2020.
For all latest news, follow The Daily Star’s Google News channel.
Justice Mujahidur Rahman of the court issued the ruling in response to an appeal.
Ahammed also serves as the managing director of Jasmir Super Oil Ltd, another concern of the group.
Five cases have been lodged against Nurjahan Group so far for defaulting on loans worth around Tk 400 crore with different banks.
“The appeal was made out of fear that the accused would flee the country without settling the dues,” said Jamal Uddin Ahmed, manager of the Khatunganj branch of National Bank.
“The accused has been in hiding for a long time and we fear that he too may flee as his wife and children already live in Canada.”
Zahir Ahammed could not be reached for comments.
Apple
Google
Click to comment
The Daily Star
| বাংলা
১ ঘণ্টা আগে|করোনাভাইরাস
রাজধানীর ভাসমান জনগোষ্ঠীকে টিকা দেওয়া শুরু
রাজধানী ঢাকার ভাসমান জনগোষ্ঠীকে করোনা টিকা দেওয়া শুরু করেছে সরকার। রোববার রাত পৌনে ৮টার দিকে কমলাপুর রেলস্টেশনের ভাসমানদের টিকা দেওয়া হয়।
১২ ঘণ্টা আগে|শ্রদ্ধাঞ্জলি
বিদায় গানের পাখি…
Organisation News
Tasty Treat food stall at trade fair wins gold
Star Business Desk
Fri Feb 4, 2022 12:00 AM Last update on: Fri Feb 4, 2022 01:26 AM
Tasty Treat, a fast food retail brand of Pran-RFL Group, has received a gold medal under food stall category at the 26th Dhaka International Trade Fair-2022.
The Export Promotion Bureau presented the award, said a press release.
For all latest news, follow The Daily Star’s Google News channel.
Textiles Minister Golam Dastagir Gazi, Commerce Minister Tipu Munshi and Md Jashim Uddin, president of the Federation of Bangladesh Chambers of Commerce and Industry, handed over the certificate and trophy.
The event took place at Bangabandhu Bangladesh-China Friendship Exhibition Center in Purbachal, Dhaka on Monday.
Apple
Google
Click to comment
The Daily Star
| বাংলা
১ ঘণ্টা আগে|করোনাভাইরাস
রাজধানীর ভাসমান জনগোষ্ঠীকে টিকা দেওয়া শুরু
রাজধানী ঢাকার ভাসমান জনগোষ্ঠীকে করোনা টিকা দেওয়া শুরু করেছে সরকার। রোববার রাত পৌনে ৮টার দিকে কমলাপুর রেলস্টেশনের ভাসমানদের টিকা দেওয়া হয়।
১২ ঘণ্টা আগে|শ্রদ্ধাঞ্জলি
বিদায় গানের পাখি…
Press Releases
Nagad offers instant cashback on tuition fees of selective educational institutions
Thu Feb 3, 2022 05:15 PM Last update on: Thu Feb 3, 2022 05:26 PM
Mobile Financial Service ‘Nagad’ has come up with a cashback offer to reduce hassles to pay students tuition fees at their respective institutions. From now on, students who pay fees at school, college, and university’s will receive 5 percent instant cashback or up to BDT 50 per month.
The campaign started on 1 February 2022 and it will last till 30 of April 2022. During the campaign, through Nagad wallet, a student can avail this 5 percent or up to BDT 50 in the first transaction of fees payment in a month. As a result, from February to April, they will be able to receive up to BDT 150 cashback in three months in a row.
For all latest news, follow The Daily Star’s Google News channel.
Some notable institutions are in the list who are collecting their academic fees from students through Nagad; Bangladesh University of Engineering and Technology, BKSP Public School, Academia, Daffodil International School, Tejgaon Govt’ High School, Armed Police Battalion School and College, Ramu Cantonment English School, Dhaka Polytechnic Institute, Chattagram College, Government Mujib College, Ideal College, Dhaka Commerce College, Brahmanbaria Government College, Tejgaon College, Ishwardi Mohila College, Saidpur Govt’ College, Dhaka University of Engineering Technology (DUET), Dhaka International University, Bangladesh Army University of Science and Technology, Eastern University, Daffodil International University, Stamford University, City University, Leading University, Bangladesh Open University. Students of one hundred such educational institutions will receive this 5 percent or up to BDT 50 instant cashback.
To pay tuition fees, students can choose Nagad app, USSD (*167#) or merchant QR code of their institutions. Besides, students also can pay fees through browsing institutions websites by choosing Nagad. However, to avail this offer, students Nagad account has to be open and active.
Commenting on the fees collection of educational institutions, Nagad’s Chief Marketing Officer (CMO) Sheikh Aminur Rahman said, “We always try to provide easy and affordable services for people through Nagad. For people of all classes and ages, Nagad constantly coming up with new services. This time, collecting the fees of the educational institutions and giving instant cashback to the students is an example of that.”
Apple
Google
Click to comment
The Daily Star
| বাংলা
১ ঘণ্টা আগে|করোনাভাইরাস
রাজধানীর ভাসমান জনগোষ্ঠীকে টিকা দেওয়া শুরু
রাজধানী ঢাকার ভাসমান জনগোষ্ঠীকে করোনা টিকা দেওয়া শুরু করেছে সরকার। রোববার রাত পৌনে ৮টার দিকে কমলাপুর রেলস্টেশনের ভাসমানদের টিকা দেওয়া হয়।
১২ ঘণ্টা আগে|শ্রদ্ধাঞ্জলি
বিদায় গানের পাখি…
Organisation News
Maersk to set up warehouse in Chattogram
Teams up with ISATL
Sohel Parvez
Thu Feb 3, 2022 12:00 AM Last update on: Thu Feb 3, 2022 03:04 AM
Maersk is going to set up a customs bonded warehouse in Chattogram in its bid to strengthen its footprint in Bangladesh, a move that will provide much-needed relief to exporters and global buyers from congestion.
The global freight forwarder said it is establishing the 200,000-square-foot warehouse in partnership with Ispahani Summit Alliance Terminals Ltd (ISATL).
For all latest news, follow The Daily Star’s Google News channel.
ISATL, the country’s one of the leading private inland container depots, will construct a brand new customs bonded warehouse on the existing premises of the facility located at Pathortoli in the port city.
The warehouse will double the existing capacity of the depot and add around 8 per cent additional space to the existing ecosystem in Chattogram, said Maersk in a press release yesterday.
The construction of the container freight station (CFS) has already commenced and is expected to be completed in a phased manner by the end of 2022.
Bangladesh’s exporters and their overseas buyers will be able to start using the facility from July 2022, once the first phase is completed, said Maersk.
The disclosure comes at a time when Chattogram port is registering an increasing flow of containers buoyed by Bangladesh’s growing shipment of goods abroad and imports to feed the fast-expanding economy.
The port, which handles around 90 per cent of the country’s international trade, recorded a 13 per cent year-on-year growth in container handling in 2021. It managed 32.14 lakh TEUs (twenty-foot equivalent units) of export, import and empty containers last year.
Maersk has been operating for almost three decades in Bangladesh, one of the most important sourcing markets for the garments and apparel industry worldwide.
Despite the impressive growth of garment exports from the country, the number of warehouses in Chattogram has not increased since 2012 with the sole exception of ISATL, which became operational in 2018, said Maersk.
The logistics ecosystem and the Chattogram Port get stretched, particularly during peak seasons.
In 2021, a fallout of this structural challenge was felt by all the stakeholders involved in import-export trade when the CFS got clogged with cargoes, resulting in delayed clearance, stuffing and consequently dispatch of containers to the port.
The delay in offloading cargoes also led to a longer truck waiting time, Maersk said.
“Maersk’s commitment to connect and simplify our customers’ supply chains means that we look at long-term solutions for problems such as the longstanding congestion within the ecosystem,” said Angshuman Mustafi, managing director of Maersk Bangladesh, in the press release.
He said the company tackled the situation in 2021 by deploying an additional vessel for evacuating export-loaded containers.
“By partnering with ISATL, we are establishing a facility that has the potential to partially decongest the system from the land side and streamline the flow of cargoes in and out of Bangladesh.”
Yasser Rizvi, managing director of ISATL, said, “We are proud to partner with Maersk on this exciting long-term project where ISATL’s extensive local experience combined with Maersk’s international best practices will allow us to create a truly world-class facility that will help raise the standards for the entire industry.”
ISATL, located over 31 acres of area, has two bonded warehouses presently, according to Mehadi Hasan, general manager and head of operations of the facility.
Apple
Google
Click to comment
The Daily Star
| বাংলা
১ ঘণ্টা আগে|করোনাভাইরাস
রাজধানীর ভাসমান জনগোষ্ঠীকে টিকা দেওয়া শুরু
রাজধানী ঢাকার ভাসমান জনগোষ্ঠীকে করোনা টিকা দেওয়া শুরু করেছে সরকার। রোববার রাত পৌনে ৮টার দিকে কমলাপুর রেলস্টেশনের ভাসমানদের টিকা দেওয়া হয়।
১১ ঘণ্টা আগে|শ্রদ্ধাঞ্জলি
বিদায় গানের পাখি…
Organisation News
Embezzlement by Tamha: Investors blame DSE, CDBL
Star Business Report
Thu Feb 3, 2022 12:00 AM Last update on: Thu Feb 3, 2022 02:49 AM
Stock investors whose funds were siphoned off by Tamha Securities blame the Dhaka Stock Exchange (DSE) and Central Depository Bangladesh Ltd (CDBL) for the loss of their funds.
Last December, the country’s premier bourse suspended stock trading through the brokerage firm on receiving allegations of it embezzling investors’ money.
For all latest news, follow The Daily Star’s Google News channel.
The stock brokerage house used a duplicate software for embezzling investors’ funds, said Fokhrul Islam, an investor representing the victims, during a press briefing at the Capital Market Journalists’ Forum yesterday.
“With the duplicate software, the broker had sent fake SMS and emails, so we did not realise that the owners of the brokerage firm had embezzled our fund,” he said.
“Imagine how bad the DSE’s monitoring system is that it failed to track the forgery of its broker,” he said.
If the DSE puts emphasis on closely monitoring their activities, none will dare to embezzle investors’ hard-earned money, he said.
The owners of the brokerage house embezzled around Tk 100 crore of investors’ money, Islam said.
Investors get an SMS notification from Central Depository Bangladesh whenever a trade takes place. The victims alleged that they did not get any such notification during the embezzlement.
“How can the Central Depository Bangladesh change the mobile number without our knowledge?” he said.
“If the depository company had not changed the mobile number, we could have traced the sales of our stocks by the owners of the brokerage firm,” he said in front of dozens of investors who had lost their money present at the event.
“We invested our hard-earned money and lost all for the forgery of the owners of the brokerage firm,” he said.
“So, the stock market regulator should take steps so that we can get return of the funds fast,” he said, adding that his family had fallen into peril for this.
“If we lose our money for dishonest brokerage owners, it will impact the whole market,” he said.
Central Depository Bangladesh Managing Director and CEO Shuvra Kanti Choudhury told The Daily Star yesterday that brokerage firms usually informed of any changes to mobile numbers and email addresses of investors.
On the other hand, when any mobile number or email address is changed, messages are subsequently sent to both the new and old mobile numbers and email addresses, he said.
So, it is not right to blame Central Depository Bangladesh, he added.
About the blame, DSE Chief Operating Officer Shaifur Rahman Mazumdar said the bourse has already strengthened its monitoring systems.
But brokerage firms have the primary responsibility of safeguarding investors’ fund, he said.
“We are making a separate guideline for the use of software by brokerage firms for trading stocks so that none can siphon-off investors’ funds,” he added.
Apple
Google
Click to comment
The Daily Star
| বাংলা
১ ঘণ্টা আগে|করোনাভাইরাস
রাজধানীর ভাসমান জনগোষ্ঠীকে টিকা দেওয়া শুরু
রাজধানী ঢাকার ভাসমান জনগোষ্ঠীকে করোনা টিকা দেওয়া শুরু করেছে সরকার। রোববার রাত পৌনে ৮টার দিকে কমলাপুর রেলস্টেশনের ভাসমানদের টিকা দেওয়া হয়।
১১ ঘণ্টা আগে|শ্রদ্ধাঞ্জলি
বিদায় গানের পাখি…
Organisation News
Square Textiles’ profit surges six times
Star Business Report
Wed Feb 2, 2022 12:00 AM Last update on: Wed Feb 2, 2022 02:59 AM
Square Textiles Ltd, a concern of Square Group, yesterday said its profit rocketed in the first six months of the financial year as revenue growth outpaced the cost of sales.
The textile company also cut its finance cost significantly. As such its overall earnings grew nearly six times to Tk 92.28 crore in the July-December period of 2021-22 from Tk 15.54 crore during the same period the previous year, according to its unaudited financial statement.
For all latest news, follow The Daily Star’s Google News channel.
Earnings per share soared to Tk 4.68 from Tk 0.79 a year ago.
The EPS has increased due to the rise in production and the sales price of yarn, said the company in its filing on the Dhaka Stock Exchange.
Shares of Square Textiles rose 0.91 per cent to Tk 66.8.
The company posted 46 per cent year-on-year revenue growth to Tk 795 crore in the first half of the financial year. The cost of sales rose 33 per cent.
Many local spinning mills have either expanded their production capacity or made new investments as international orders for garment items produced in Bangladesh surged in keeping with the recovery of the global supply chain from the severe fallouts of Covid-19.
With the rise in demand from garment manufacturers and exporters, the price of yarn and fabrics rose 60 per cent in September.
Apple
Google
Click to comment
The Daily Star
| বাংলা
১ ঘণ্টা আগে|করোনাভাইরাস
রাজধানীর ভাসমান জনগোষ্ঠীকে টিকা দেওয়া শুরু
রাজধানী ঢাকার ভাসমান জনগোষ্ঠীকে করোনা টিকা দেওয়া শুরু করেছে সরকার। রোববার রাত পৌনে ৮টার দিকে কমলাপুর রেলস্টেশনের ভাসমানদের টিকা দেওয়া হয়।
১১ ঘণ্টা আগে|শ্রদ্ধাঞ্জলি
বিদায় গানের পাখি…
Organisation News
Ifad Autos’ profit plunges
Star Business Report
Wed Feb 2, 2022 12:00 AM Last update on: Wed Feb 2, 2022 12:39 AM
Ifad Autos said its profit slumped 41 per cent year-on-year to Tk 24.6 crore in the July-December period of the current fiscal year owing to its increased operational cost.
The auto marketer recorded Tk 41.9 crore in earnings in the six months of the financial year 2020-21.
For all latest news, follow The Daily Star’s Google News channel.
The earnings per share of Ifad dipped to Tk 0.97 in the July-December period of the current financial year from Tk 1.66 during the corresponding period of 2020.
The company’s sales grew marginally to Tk 413 crore in the six months to December 2021 from Tk 412 crore in the previous year
Md Sazzad Hossain Talukder, company secretary of Ifad Autos, said revenue did not increase significantly owing to the pandemic. A rise in its operational cost also affected the earnings of the company, he said.
