AB Bank Open its 5th SME Center at Bogra

AB Bank Limited has inaugurated its 5th SME Center at Bogra on July 20th, 2009. The SME Center was inaugurated by AB Bank President & Managing Director Mr. Kaiser A. Chowdhury. Mr. Moshiur Rahman Chowdhury, EVP & Head of SME, Mr. Md. Abdul Maleque, SAVP & Cluster Head-North Bengal, Mr. Md. Idrish Ali Joarder, SAVP & Manager-Bogra Branch, Mr. Md. Faruque Ahmmed, AVP-SME, along with Branch Managers of North Bengal Region & other officials were also present at the opening ceremony.

In the picture, AB Bank SME Center Bogra is being inaugurated by AB Bank President & Managing Director Mr. Kaiser A. Chowdhury. Along with him Mr. Moshiur Rahman Chowdhury, EVP & Head of SME, Mr. Md. Abdul Maleque, SAVP & Cluster Head-North Bengal, Mr. Md. Idrish Ali Joarder, SAVP & Manager-Bogra Branch, Mr. Md. Faruque Ahmmed, AVP-SME are also seen in the picture

Emirates has become the world’s largest airline operator of Boeing 777 aircraft with the arrival of its 78th Boeing 777 on 30 July 2009. The airline has another 28 Boeing 777s pending delivery, worth over US$ 7 billion at list prices, and it is also the only airline to operate every model in the Boeing 777 family: -200s, -200ERs, -200LRs, -300s, -300ERs and freighters. The newest addition to the Emirates fleet is a Boeing 777-300ER configured for long distance journeys.
Tim Clark, President Emirates Airline said: “The 777s form the backbone of our fleet, and we have configured these aircraft to give us maximum flexibility in terms of route deployment. Emirates’ 777s today fly to six continents from our Dubai hub, operating routes within a two-hour distance to long-range journeys of 16 hours non-stop.”
He added “The 777 is an excellent aircraft in terms of operating economics, and importantly, the new technologies incorporated within enable us to fit it out with the latest onboard systems and passenger amenities. Emirates is committed to maintaining a young and modern fleet, which enhances our passengers’ comfort and safety and also makes our aircraft some of the most environmentally-friendly in the skies.”
Emirates recently completed an upgrading programme for its existing 777 fleet, and now all of its 777 aircraft boast its award-winning ice (information, communication, entertainment) system, which offers passengers in all cabin classes an unrivalled choice of up to 1,200 channels of the latest movies, TV programming, music and games on demand.
The airline’s long-range 777s have also been equipped with its very latest onboard products including private suites in First Class, lie-flat massage seats in Business Class, and ergonomically designed seats in Economy Class.
Emirates received its first 777, a Boeing 777-200, in 1996. Its current 777 fleet comprises: three -200s, six -200ERs, 10 -200LRs, 12 -300s, 45 -300ERs, and two 777 freighters. In total, Emirates operates an all-wide body fleet of 137 Boeing and Airbus aircraft to 99 cities in 60 countries on six continents.

United Airways designated to fly United Kingdom and Saudi Arabia in November

United Airways (BD) Limited will launch services to London, the capital and largest city of the United Kingdom, and Jeddah the capital city of Kingdom of Saudi Arabia from Dhaka that will be effective from November 2009.This will be the airline's fifth and sixth international flight from Bangladesh. The airline will launch three services a week on the Dhaka - London route, on Tuesdays, Thursday and Sunday respectively, aboard a state-of-the-art Boeing new generation and MD83 aircrafts. With the introduction of this new flight, United Airways will fly to 7 cities in the Gulf, including Kuwait, Bahrain, Muscat, Doha, Abu Dhabi, Jeddah and Riyadh.According to Capt. Tasbirul Ahmed Choudhury, Chairman and Managing Director, United Airways Limited, "UK and Saudi Arabia is a very important market for United Airways on account of the large volume of traffic to the United Kingdom and Gulf Kingdom, to and from Bangladesh, and an important addition to the airline's growing international network. With the launch of our 5th and 6th international passenger service to United Kingdom and Saudi Arabia, we are confident of our position as among the leading carriers on these sectors."

Mutual Trust Bank Holds Half Yearly Business Conference

Mutual Trust Bank limited (MTB) held its Half Yearly Business Conference 2009 on August 1, 2009 at the Pan Pacific Sonargaon Hotel, Dhaka. MTB Chairman Samson H. Chowdhury attended the inaugural ceremony, as the chief guest. MTB Founder Chairman Syed Manzur Elahi and Director M. A. Rouf were present as special guests. The bank's Managing Director & CEO Anis A. Khan, senior management team, Heads and Deputy Heads of Branches, Brokerage Houses and SME Service Centers were all present at the semi-annual business review and planning event.Samson H Chowdhury said that the human resources team of the Bank was being rejuvenated, reorganized and provided with the appropriate technical, leadership and motivational training, both at home and abroad. He appreciated the efforts taken by the Management for attaching top priority on building a strong brand image for the Bank. He added that the Board of Directors and senior management team were taking synergistic, well coordinated and dynamic initiatives to instill vigour, vitality, motivation and enthusiasm in the entire organization, which will contribute to MTB's transformation into a world class bank. Syed Manzur Elahi appreciated the efforts taken by the management team in taking the bank forward and pledged the Board's continued support in the future.MTB Managing Director & CEO Anis A. Khan reviewed the business performance for the half year period ending June 30, 2009. The bank's balance-sheet footing increased by over 15%, as at this half-year end, compared to the corresponding previous half-year. Operating profit grew by 30%, while profit after tax notched a 505% growth over January - June 2008. EPS (annualized) showed a healthy increase to BOT 39.65 from BOT 9.25, whilst shareholder equity grew by about BOT 1 billion to BOT 2.98 billion as at June 30, 2009. ROA rose to 1.56% from 0.33% whilst ROE grew to 23.47% from 5.78%The business and branch heads made presentations on their performance, prospects and problems. The MTB MD & CEO suggested action plans for quick implementation to achieve the budget for 2009. He then unveiled a strategic plan incorporating short, medium and long term mission and goals for MTB, which will be sewn in to a five year strategic plan with action plans

Teletalk Deals with US Company

Teletalk Bangladesh Limited, the government-owned mobile operator, has signed an agreement with Harris Stratex Networks, a US-based communication equipment manufacturer, for its network expansion. Deputy general manager (procurement) of Teletalk Abdul Moqaddem and Habibur Rahman of Harris Stratex Networks signed the agreement on behalf of their respective organisations. The manager director of Teletalk, Muzibur Rahman, was present on the occasion.

No Mutual Fund Under Tk 50 Crore

The Securities and Exchange Commission from now on will not allow any mutual fund worth below Tk 50 crore. The commission took the decision at a meeting on Sunday, said a senior official of the stock market regulatory body. He said the step would strengthen the mutual fund sector.
The SEC’s move came following a proposal from the Dhaka Stock Exchange on what should be the lowest worth of a mutual fund of getting SEC approval. The premier bourse, however, had proposed that mutual fund of below Tk 100 crore should not be allowed. A number of mutual funds are waiting for the approval of the SEC for raising funds through issuing initial public offerings with a number of financial institutions recently decided to float mutual funds. Currently, a total of 17 mutual funds are listed with the bourses. Of them, ICB and its subsidiaries have managed 13 mutual funds, AIMS Bangladesh three and BSRS (Bangladesh Shilpa Rin Sangstha), and Prime Finance have one each.
Meanwhile, the subscription of IPO of ICB AMCL 2nd Mutual Fund began on Sunday and will finish on August 16. For the non-resident Bangladeshis, the closing date will be on August 25. The mutual fund, sponsored by ICB Capital Management Ltd, will float 50 lakh shares of Tk 100 each totalling Tk 50 crore. Resident Bangladeshis will get units worth Tk 30 crore, while units worth Tk 5 crore will be reserved for NRBs, and another Tk 5 crore for mutual funds. Sponsors will get units worth Tk 10 crore. ICB Asset Management Company Ltd, a subsidiary of Investment Corporation of Bangladesh, is working as asset manager of the fund.

Pan Pacific Xiamen Welcomes First Guests

Pan Pacific Hotels Group celebrated the opening of Pan Pacific Xiamen on 1 August 2009.
Formerly the Sofitel Plaza Xiamen, the hotel was rebranded and opened as Pan Pacific Xiamen on 1 August following a series of hotel enhancements in line with the personalised experience synonymous with the Pan Pacific brand.
The opening of Pan Pacific Xiamen is a significant milestone for Pan Pacific Hotels Group as it charts its strategic expansion in North America, Asia and Australia. Its next project in China is Pan Pacific Tianjin, scheduled to open in 2011.
To celebrate the opening, guests staying over at Pan Pacific Xiamen on 31 July were gifted with exclusive ‘opening day’ mementos. The first guest of the day also enjoyed a special welcome package of flowers, champagne and gifts, and a complimentary room upgrade. In addition, guests at breakfast on the morning of the opening enjoyed a round of celebratory champagne while an evening cocktail rounded up the day’s festivities. To mark its launch, Pan Pacific Xiamen will also host a series of high-profile events over the next few weeks, including the Pan Pacific Xiamen Golf Cup and Cocktail Party and dinner events with key industry and community leaders.
“The team has been working hard towards this special day,” said Rudy Rodas, General Manager of Pan Pacific Xiamen. “We are thrilled to be part of this development milestone for Pan Pacific Hotels Group and even more proud, and honoured, to be able to finally deliver the Pan Pacific experience to more guests in China.”
“In line with the tremendous progress of the city, Pan Pacific Xiamen will redefine service standards for the local hospitality industry,” said A. Patrick Imbardelli, President and CEO, Pan Pacific Hotels Group. “Pan Pacific Xiamen marks an exciting chapter in our development story, as we strive to expand the breadth and depth of the Pan Pacific experience to more guests around the world.”
Pan Pacific Xiamen guests can expect an enhanced overall experience in line with the Pan Pacific standard of subtleness, delicate service and attention to details, starting from the booking process through to their arrival and stay at the hotel. In line with its rebranding, the hotel features a refreshed lobby, improved gym facilities, enhanced room features like flat screen televisions, dual language controls and iPod docking stations and the signature Pacific Club for discerning travellers. Pan Pacific Xiamen will also feature Pan Pacific’s award-winning Cantonese restaurant, Hai Tien Lo. Bookings can be made online now at panpacific.com/xiamen.

GP Posts 10% Revenue Growth

Grameenphone Ltd. posted a 10 percent growth in revenue reaching to BDT 1,628 crore in the second quarter of 2009 compared to BDT 1,477 crore in the same quarter of last year.

The revenue increase is attributable to a higher number of subscribers, higher average price (APPM) and increased interconnectivity revenues, due to the introduction of International Gateway (IGW) from the fourth quarter of 2008, which were partly offset by reduced fees on local interconnect calls.

Grameenphone CEO Oddvar Hesjedal, pleased with the financial results posted for the second quarter, said that “the increasing revenue growth trend, I think accurately demonstrates that the management is willing to make the right changes at the right time to bolster the company during the lull in the economy.”

Notably the EBITDA margin improved significantly compared to last year mainly due to higher revenues combined with lower subscription acquisition costs. The Average Revenue per User (ARPU), however, deceased by 1 percent due to lower usage and the reduced interconnect fees. “In light of the current market conditions EBITDA growth is definitely a positive indicator of the business prospects of Grameenphone,” added the CEO.

The company’s cumulative investment now stands at BDT 14,400 crore including BDT 480 crore in 2009. Grameenphone has adjusted its investment in network in line with the current growth in subscriptions and traffic volumes. Grameenphone added 106,000 subscribers during the second quarter but still saw a slight decline in subscription market share to 45 percent.

Following the reduction in local interconnect rates in the previous quarter, the Bangladesh Telecommunication Regulatory Commission (BTRC) lowered the international call termination rate to minimum USD 0.03 from USD 0.04, with effect from 19 May, 2009.

Earlier on 2 July, 2009, the Securities and Exchange Commission (SEC) gave formal approval for Grameenphone’s Initial Public Offering (IPO). The approval was subject to satisfactory and successful completion of certain conditions, i.e. changing the denomination of shares from BDT 1 to BDT 10, and incorporating the audited financial statements for 2008 in the IPO Prospectus.

When completed The Grameenphone IPO will be by far the largest IPO ever completed in Bangladesh.

Dragonair’s New Arrangement for Services to Dhaka and Kathmandu

Dragonair announced new arrangement for its services to Dhaka and Kathmandu starting from October 1 which will offer passengers travelling to and from Nepal a greater number of flights per week to choose from. The night flight to Kathmandu from Hong Kong and the return early morning flight from Kathmandu will both operate via Dhaka.
The new arrangement will bring improved service benefits to passengers travelling between Hong Kong and Kathmandu with frequency increasing to five times a week from the existing thrice-weekly service. Moreover, the flight will be operated using an A330 aircraft which offers greater capacity for both passengers and cargo. "We are excited to announce the increased frequency for our flights to Kathmandu, which will mean more convenience as well as better service quality for passengers travelling to and from Nepal," says Dragonair Chief Executive Officer Kenny Tang.“The increased capacity will definitely play a part in helping to meet the Nepal Tourism Board’s target of one million tourists visiting in 2011. The airline will also help increase the number of inbound tours to Nepal via Hong Kong using the extensive worldwide network offered by both Dragonair and sister airline Cathay Pacific,” Mr Tang added.

Job Opportunity at Jamuna Bank Limited

Jamuna Bank Limited, a leading private sector commercial bank providing high quality products and services backed by modern technology and a team of highly motivated workforce committed to professional excellence in banking is looking for personnel in the following positions at Head Office:
Muraquib / Audit Officer
• MBA/Master's Degree from reputed institution/University.
• The candidate must have Islami Banking Audit experience.
• He/She should have at minimum 5-10 years working experience in the Audit Division of any Islami Bank.
• Candidates having any 3 rd Class/Division in the academic career need not apply.
Interested candidates are requested to send detailed Curriculum Vitae alongwith 02 copies of photographs and Last Pay Certificate (LPC) with a forwarding letter addressed to the Head of Human Resources Division, Head Office, Chini Shilpa Bhaban, 3, Dilkusha C/A, Dhaka-1000 within August 15, 2009.
Only short listed candidates shall be called for interview.

DBBL has opened its 73nd Branch at Bhairab

Dutch-Bangla Bank Limited has opened its 73nd Branch at Bhairab (Kichukkhan ,Patwary Complex,1366 Bangabandhu Road, Bhairab, Kishorgonj), on July 29, 2009.Mr. Md. Yeasin Ali, Managing Director of the Bank formally inaugurated theBranch.Among others, elite of the town,industrialists, business personalities,bankers, educationists, journalists and highofficials of Dutch-Bangla Bankwere also present on the occasion.

Profile of Samson H Chowdhury

Mr. Samson H Chowdhury was born on 25 September, 1925. After completing education in India he returned to the then East Pakistan and settled at Ataikula village in Pabna district where his father was working as a Medical Officer in an outdoor dispensary. In 1952, he started a small pharmacy in Ataikula village which is about 160 km off capital Dhaka in the north-west part of Bangladesh. Mr. Samson H Chowdhury then ventured into a partnership pharmaceutical company with three of his friends in 1958. When asked why the name SQUARE was chosen he remembers - “We named it SQUARE because it was started by four friends and also because it signifies accuracy and perfection meaning quality” as they committed in manufacturing quality products.
Now that small company of 1958 is a publicly listed diversified group of companies employing more than 12,000 people. The current yearly group turnover is 300 million USD.
SQUARE today is a name not only known in the Pharmaceutical world, it is today a synonym of quality- be it toiletries, health products, textiles, Agro Vet products, information technology and few more. All these were possible due to his innovative ideas, tireless efforts, perseverance and dedication with self confidence which contributed to his successful achievements. Now the name “ SQUARE ” inspires trust. Under his dynamic leadership, SQUARE is set to continue its progress globally.

Association :
President, Metropolitan Chamber of Commerce and Industry (MCCI), Dhaka, in 1996 and 1997.
Chairman, Micro Industries Development Assistance & Services (MIDAS).
Member, Advisory Committee of the Bangladesh Association of Pharmaceutical Industries.
Founder President, Bangladesh Association of Publicly Listed Companies.
Member, Executive Committee of Bangladesh French Chamber of Commerce and Industry.
Chairman, Transparency International, Bangladesh Chapter, 2004 - 2007.
Vice-President: International Chamber of Commerce, Bangladesh
Chairman: Central Depository Bangladesh Ltd.
Life member: The Dhaka Club Limited, Dhaka
Former Director: The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).

Accolades :
“Business Executive of the Year” by American Chamber in Bangladesh in 1998.
“Best Entrepreneur of the Country for the year 2000 – 2001” by the Daily Star and DHL Worldwide Express.
"Special contribution in country's industrial and commercial sectors for the year 2003" by "Merchantile Bank Award 2003"
For Uncompromising Business Ethics, Honesty & Transparency of the year 2005 by "Banker's Forum Award - 2005".

Prime Bank launches online banking Business Desk
Prime Bank launched a month-long branch-based customer service campaign with a focus on enhancing the qualitative aspects of the services provided by the bank. It also launched online banking facilities at the inauguration ceremony of the customer service month. Managing director of the bank M Ehsanul Haque inaugurated the online banking and customer service campaign at the bank’s Uttara branch in Dhaka on Sunday. Senior executive vice-presidents Md Jashim Uddin and Ferdousi Sultana, SAVP Mahmudur Rahman and SAVP and head of Uttara branch TM Shafiqul Huq were also present on the occasion.