Biman Bangladesh Airlines Ltd on March 15 signed a memorandum of understanding (MoU) with the US plane maker Boeing to buy 8 new-generation aircraft worth $1.265 billion (equivalent to Tk 8,728 crore). Biman’s Managing Director (MD) Dr MA Momen and Regional Director of Boeing Glen A Green signed the MOU at Balaka, Biman’s head office in Dhaka.

With only a day away, candidates for the FBCCI directorship are now busy with the last leg of electioneering to drum up voters’ support. As many as 49 will contest the polls beginning tomorrow. After a day’s break, the 24 elected directors and the earlier 14 nominated directors will elect president, first vice president and vice president to the Federation of Bangladesh Chambers of Commerce and Industry for a two-year term.

The FIT Initiative was launched at the Bangladesh-China Friendship Conference Centre in the Dhaka city on Wednesday. Mahbubur Rahman, president of the International Chamber of Commerce – Bangladesh, inaugurated the programme which will provide advanced skills in the Finance of International Trade to the professional and those involved in international trade, said a press release.

The latest reduction in lending rate will have a little impact on the economy, said top business leaders yesterday and asked the central bank to pursue commercial banks to lower the rate further.

International Chamber of Commerce-Bangladesh (ICC-B) President Mahbubur Rahman yesterday emphasised practice and adoption of various international trade and finance instruments, procedures and rules.

The recent proposal by the Securities and Exchange Commission’s (SEC) on the compulsory listing of private companies in Bangladesh has sparked a lively debate between regulators and private business.

Overall investment in the country slowed down in the first half of fiscal 2007-08, excepting some areas where it was noticeable, says the Metropolitan Chamber of Commerce and Industry (MCCI), Dhaka.

Bangladesh’s chances to get duty-free access to the US market largely depend on how Bangladesh addresses issues such as democracy, labour rights and human rights, Commerce Adviser Hossain Zillur Rahman said yesterday.

Workshop on International Trade Payment Practices will be held on Monday, March 3, 2008 at the Peninsula Chittagong, Chittagong.

The country will no longer need foreign aid to support the government’s annual budgets in the near future if the economic reforms especially in the areas of revenue collection are executed, hoped the NBR chief yesterday.

The country’s second crude oil refinery company is likely to come into operation in a span of 40 months as a US$7billion joint venture deal between a Bangladeshi company and a Saudi big investment company was signed yesterday.

Turnover at the Dhaka Stock Exchange nearly doubled last week with 93.83 per cent rise to total at Tk 14.25 billion from the previous week’s Tk 7.35 billion as investors returned to the trading floor heavily after the SEC withdrew restrictions on fund inflow to the market, said analysts.

The total turnover at the Dhaka and Chittagong bourses on Monday soared to its highest ever mark at Tk 4.0690 billion, surpassing the previous highest of Tk 3.7375 billion on October 22 last.

The Securities and Exchange Commission at a meeting on Monday asked the merchant banks to formulate their own guidelines specifying the loan ratio on the basis of share prices for their clients under the maximum rate of margin loan.

Ship building industry in Bangladesh is set to emerge as new export leader after two ship builders said Monday they have already grabbed order worth over $250 million last year.

The ICB Financial Group Holdings AG, a Swiss-based company, has emerged as the highest bidder for over 50 per cent shares of the troubled Oriental Bank Limited. It has offered Tk 3.506 billion for the shares, officials said.

The Bangladesh Bank (BB) has intensified its open market operations by extending foreign currency support to the commercial banks aiming to meet import bills for food grains and fuel.

The Board of Investment (BOI) should be made into a more dynamic, responsive, transparent, and efficient and a good communicator in order to promote investment by both local and foreign investors. The Business Leaders suggested these during a meeting with the new BOI Executive Chairman Kamaluddin Ahmed at ICC Bangladesh (ICCB) Board Room on Wednesday, January 23.

BRAC, a leading non-governmental organisation, has entered into a term financing of Tk 1.40 billion with Citibank NA, Bangladesh with the support of Overseas Private Investment Corporation (OPIC) of the USA.

The Securities and Exchange Commission Tuesday ordered suspension of trading or transfer of shares of the sponsors or directors of ‘Z’ category companies from today (Wednesday) until further instruction.