Mr. Victor Fung assumed the role of Chairman of the International Chamber of Commerce (ICC) on 1 July 2008, after having served for 18 months as ICC’s Vice Chair, said a press release. He replaced Mr. Marcus Wallenberg, who became ICC Honorary Chairman. Mr. Fung was elected as ICC Chairman for a two-year term on June 13 at the meeting of ICC’s World Council held in Stockholm, which brought together over 130 of its business members from 57 countries.

Victor Fung has taken over as the new chairman of International Chamber of Commerce (ICC). Fung was elected ICC chairman for a two-year term on June 13 at a meeting of ICC’s World Council held in Stockholm.

President of International Chamber of Commerce-Bangladesh, the world business organization Mahbubur Rahman said that on top of everything else, the most important agenda for the government should be to take effective and long-term measures to contain inflation and hand over power to the elected representatives, as promised, by the end of 2008 through holding a free, fair and credible election.

President of International Chamber of Commerce (ICC) Bangladesh Mahbubur Rahman on Saturday said a democratic government is a pre- requisite for any sustainable development of a nation. He said the government should take long-term and effective measures to contain inflation and hand over power to the elected representatives, through holding a free, fair and credible election, said a press release.

President of the International Chamber of Commerce-Bangladesh (ICC-B) Mahbubur Rahman yesterday urged the government to hand over power to elected representatives as promised through holding a free, fair and credible election by the yearend. “ the most important agenda for the government should be to take effective and long-term measures to contain inflation and hand over power to elected epresentatives,” he said while presenting the ICC-B executive board report at the ICC-B annual council 2007 at the MCCI conference hall.

International Chamber of Commerce-Bangladesh (ICC-B) President Mahbubur Rahman said the most important agenda for the government should be to take effective and long-term measures to contain inflation and hand over power to the elected representatives, as promised, by the end of 2008 through holding a free, fair and credible election.

Taking effective and long-term measures to contain inflation should top the government agenda, president of the International Chamber of Commerce-Bangladesh Mahbubur Rahman said on May 24. Presenting a report of the executive board at the 13th ICC Bangladesh Annual Council 2007, at the MCCI Conference Hall, Rahman said a democratic government was a prerequisite for any sustained development of a nation.
The point-to-point inflation rate rose to 10.16 per cent in February of 2008 from 7.28 per cent in the same period a year ago.

Containing inflation and handover of power to elected representatives should be the most important agenda for the government, the president of International Chamber of Commerce-Bangladesh (ICC-B) has suggested. The suggestion came at the 13th ICC-B Annual Council 2007 held in Dhaka on May 24, according to a press statement of the organisation.“On top of everything else, the most important agenda for the government should be to take effective and long-term measures to contain inflation and hand over power to the elected representatives, as promised, by the end of 2008 through holding a free, fair and credible election,” Mahbubur Rahman said presenting an executive board report.

Against the backdrop of food crisis, Bangladesh has no option but to have self-sufficiency in food production as its top agenda, according to International Chamber of Commerce-Bangladesh (ICC-B).

As part of a host of government decisions to boost business and investments in the country, all new industrial investments will be given tax holiday for the next 10 years while the existing Information Communication Technology (ICT) investors will get the benefit for a second five-year period. The government also decided that fiscal policy for the year 2008-09 will be ‘expansionary’ so that the rural and urban poor can be provided with employment for nine months under a special programme.

The Bangladesh Better Business Forum, a high-profile government-businesspeople platform, Wednesday elaborately discussed over 100 recommendations for improving business and investment atmosphere to attain desired economic growth. The recently formed forum in its third meeting with its chairperson chief adviser Fakhruddin Ahmed in the chair at the CA’s office discussed the recommendations placed by five thematic working groups of the BBBF after working out them in 23 meetings.

Bangladesh Better Business Forum Wednesday asked authorities to cut penalty on undeclared money to help bring in under tax net and put an offer of a 10-year tax break for fresh industrial investment in the next budget. The BBBF made 114 recommendations, which were finalised at a meeting with chief adviser Fakhruddin Ahmed in his office. The recommendations were divided into four categories on the basis of duration for implementation.

Bangladesh Bank has helped ensure relative monetary stability despite economic setbacks arising from a number of shocks from different fronts, including natural disasters, loss of crops and the inexorable rise in the prices of food grains, petroleum, oil and lubricants (POL) and other commodities in the international markets. Food grain prices and international shortage have now created a fundamental challenge for the country, both in humanitarian terms and in terms of the socio-political ramifications.

Bangladesh Bank Governor Dr Salehuddin Ahmed on April 16 said he continues to persuade commercial banks to cut interest rates reasonably. Ahmed made the comment following Metropolitan Chamber of Commerce and Industry’s (MCCI) dissatisfaction over the commercial banks’ recent rate cut by one percent from the highest ceiling of 16 percent. MCCI President Latifur Rahman termed the banks’ move ‘somewhat misleading’.

Finance and Planning Adviser Dr AB Mirza Azizul Islam on April 2 said difference in opinions has become a major obstacle to exploration of natural resources and their exploitation for generating power.

The finance adviser AB Mirza Azizul Islam on April 2 said the present government’s drive against corruption might have caused a dent in the confidence of businessmen. But it was needed to check the unholy nexus between businessmen and a section of politicians he said, leaving out bureaucrats.

An unholy alliance between businessmen and corrupt politicians has been working to destabilise the country’s economy despite the government’s efforts to revitalise it, Finance and planning adviser Mirza Azizul Islam said on April 2. “We have been trying to revitalise the economy,” Aziz told a gathering of businessmen in the capital Dhaka.

Annisul Huq is set to become the next president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), as his panel swept elections to the apex trade body. According to official results, Annisul’s panel bagged 19 posts of directors out of 24, while MA Rouf Chowdhury-led panel got only five directors’ seats.

Best Air has opened talks with aircraft makers to purchase six new planes in a multi- million-dollar deal as part of its plan to launch several international routes. The move comes hot on the heels on the announcement by Biman and GMG Airlines that they are also making major aircraft acquisitions and is further evidence of the increasing competition in the nation’s aviation industry.

Another Bangladesh shipbuilding company signed a memorandum of understanding on March 15 with a Dutch firm to supply eight sea-going ships worth US$87 million. Highspeed Shipbuilding & Engineering Co Ltd signed the MoU with Hollander Scholtens (HS), Groningen to start construction of the ships from December this year. Highspeed, specialised in building small riverine cargo and passenger vessels, will be the third company to build ships for foreign buyers.