Among the new textile items, denim fabrics and sweater are gradually becoming the flagship products for the local exporters. Industry insiders said during the last four years, production of denim has increased from 28 million metres per year to 200 million metres in 2006. The sub-sector is now producing denim enough to meet the entire demand of the export oriented readymade garments units for the same, said the Bangladesh Textile Mills Association (BTMA).

The 35th Meeting of the ICCB Executive Board was held at ICC Bangladesh National Secretariat on December 18. ICCB President Mahbubur Rahman presided over the meeting. The Board reviewed the activities of ICCB and approved the Action Plan for 2008.2007.

ICC BANGLADESH WISHES ALL THE MEMBERS, PATRONS AND WELL-WISHERS A HAPPY EID-UL-AZHA.

The government on Tuesday made an announcement for sale of its 119,857 shares of IFIC Bank at the stock markets within 30 days, said officials.

Two state-owned oil companies — Jamuna Oil Company Limited and Meghna Petroleum Limited — will make debut on the stock exchanges by January 10 under the direct listing regulations, a market source said.

A total of 18 companies submitted their proposals to the telecoms regulator to vie for getting a license to operate International Internet Gateway (IIG) services. The BTRC will award one licence.

Ranks Telecom Ltd (RanksTel), a PSTN (public switched telephone network) operator, yesterday launched its land phone services in Dhaka.

The Dhaka Stock Exchange has embarked on a mission to identify companies that are not holding annual general meetings and paying dividends without acceptable reasons, a move market experts believe will increase confidence of small investors.

Dabur Nepal, a subsidiary of Dabur India and one of the leading manufacturers of fruit juices in the world, is keen to enter the Bangladesh market, provided Dhaka reduces its whopping customs duty of 80 percent.

The government has tightened procedures to issue GSP certificates to exporters in a bid to check misuse of the certificates that allow goods’ duty-free access to the European market.

On the back of good responses from individual taxpayers, the National Board of Revenue (NBR) achieved a 22.53 percent revenue growth in the first five months of the current fiscal year. The NBR received Tk 7.3911 billion from 6,45,617 individual taxpayers in the tax year of 2007-08 against Tk 2.5211 billion a year ago, contributing to the overall revenue growth.

An ‘extended family’ culture in Bangladesh still influences recruitment process in firms and organizations, as employers prefer hiring through known contacts, said an HR practices survey in Bangladesh. The survey report also said in talent hunt for running a corporate house or an NGO, newspapers continue to be the most commonly used source.

Around 80 percent demand for accessories used in exportable garment and knit items are now locally met as more than 100 accessory manufacturing industries have so far sprang up in the country, according to industry insiders.

The country needs $2.2 billion for rehabilitation projects and budgetary support and the government expects a one percentage point drop in expected GDP growth while one percentage point jump in inflation in FY08 due to Cyclone Sidr.

A division bench of the High Court (HC) has vacated the stay order on the Securities and Exchange Commission’s move to reconstitute the board of directors of Z-category companies, the worst performing issues in the stock market, to help improve their financial health.

Lafarge, the world’s top cement-maker, said Monday it will buy Egypt’s Orascom Cement for 8.8 billion euros (12.9 billion dollars) in a deal that boosts the French company’s position in the booming Middle East construction sector.

K Mahmood Sattar, managing director and CEO of The City Bank Ltd, has been elected chairman of Association of Bankers, Bangladesh Ltd for 2007-09 term. Mahmood Sattar has 26 years of experience in banking sector both at home and abroad, says a press release.

Japan will provide $ 324 million in loan assistance for New Haripur Power Plant and two other projects in the country. An agreement to this effect was signed between the governments of Japan and Bangladesh in the capital yesterday.

The Bangladesh Bank (BB) has invited fresh project proposals from innovative, experienced and new information technology (IT) entrepreneurs for ‘equity fund assistance’ to set up software industries.

Two leading cell phone operators, Grameenphone and AKTEL, are yet to submit detailed proposals on their initial public offerings (IPOs) to the telecoms regulator, as the BTRC has extended the submission deadline to next week, sources said.