The United Commercial Bank Limited (UCB) recently opened sub-branches at Dhamrai and Vatara.
N Mustafa Tarek, deputy managing director of UCB, inaugurated the sub-branches as chief guest at a function, the bank said in a press release.
UCB Executive Vice-President Md Khirkil Nowaz and other senior officials of the bank were present at the inauguration programme.
US-Bangla Airlines, a privately owned Bangladeshi airline on Sunday added a brand new ATR 72-600 aircraft to its fleet.
Adviser of US-Bangla Airlines, Captain Sikder Mezbahuddin Ahmed inaugurated the aircraft with a fly to MAG Osmani International Airport of Sylhet from Hazrat Shahjalal International Airport in Dhaka.
The airline is also planning to add four more brand new ATR 72-600 aircrafts by October 2020, said a press release.
Mezbahuddin Ahmed said “We are committed to provide safe and comfortable journey to all our valued customers. We will continue to develop as the best airline of the country and in this region.”
US-Bangla Airlines started its journey on July 17, 2014, and within less than two years it went international introducing flight to Kathmandu.
Currently the airline’s fleet consists of thirteen aircraft: 4 (four) Boeing 737-800, 6 (six) Brand New ATR72-600 and 3 (three) Dash8-Q400 which is highest for a private airline in the country
On domestic routes, the airline operates daily flights to Chattogram, Cox’s Bazar, Jashore, Saidpur, Sylhet, Rajshahi and Barishal from Dhaka. In international routes, the airline operates flight to Kolkata, Chennai, Singapore, Kuala Lumpur, Bangkok, Guangzhou, Muscat and Doha.
Finance Minister AHM Mustafa Kamal on Sunday said the government is planning to offload the shares of four state-owned commercial banks (SOCBs) by October in a bid to give a boost to the stock market.
“We’ll bring in four more state-owned commercial banks -- Bangladesh Development Bank Limited (BDBL), Agrani Bank Limited, Janata Bank Limited and Sonali Bank Limited -- into the capital market. Rupali Bank is already there and the offloading of its shares will be raised to 25 percent,” he said.
The Finance Minister came up with the information after a meeting with stakeholders of state-owned commercial banks at the Secretariat.
Kamal said the meeting decided to bring BDBL into the capital market first which will be followed by Agrani Bank, Janata Bank and lastly Sonali Bank.
“A committee has been formed in this regard. Representatives of five banks will be included in the committee and the Investment Corporation of Bangladesh (ICB) will act as the coordinator,” the minister said.
Kamal said it will take some time to bring Sonali Bank into the share market but the rest of the banks will be listed within September-October this year.
Bangladesh Bank Governor Fazle Kabir, Financial Institutions Division Secretary Md Asadul Islam, Finance Division Secretary Abdur Rauf Talukder,
Chairman of the Bangladesh Securities and Exchange Commission (BSEC) Md Khairul Hossain, Managing Director of ICB, Chairmen and Managing Directors of the banks and senior officials attended the meeting.
Earlier on February 2, the minister said a total of seven state-owned enterprises, all of them in the energy and power sector, will be listed in the country’s stock market.
The companies are Titas Gas Transmission and Distribution Company Ltd (TGTDCL), Power Grid Company of Bangladesh (PGCB), Northwest Power Generation Company Limited, Electricity Generation Company of Bangladesh (EGCB) Ltd, Ashuganj Power Station Company Ltd, BR Power Generation Company Limited and Gas Transmission Company Limited.
Islami Bank Bangladesh Limited (IBBL) has recently achieved the ‘strongest Islamic retail bank in Asia 2019’ award.
The programme was organised by United Kingdom-based financial intelligence house Cambridge International Financial Advisory.
Dr Sofiza Azmi, CEO of Cambridge IFA handed over the award to Professor Md Nazmul Hassan, PhD, Chairman and Md Mahbub ul Alam, Managing Director and CEO of the Bank at the 5th Islamic Retail Banking Awards programme recently.
IBBL was also selected as the ‘most innovative Islamic retail bank in Bangladesh 2019’ in the same programme.
Steel Canada Limited (SCL), a leading firm in building technology, has offered newly invented Canadian building technology "Buckling Restrained Brace" (BRB) System that will protect buildings and bridges from high intensity earthquakes.
Presenting the new technology Abdul Malik, director, international marketing and sales, SCL, said that the BRB system has already been tested in Canada, Pakistan and Bangladesh.
“The testing authorities have expressed confidence in the new technology. Now we’re trying to commercialise it,” he said while making his presentation on BRB System at a seminar titled, “Canbrace Earthquake Protection System for Building and Bridges” at Six Seasons Hotel in the city on Sunday.
SCL and Cosmos Group jointly organised the seminar.
Canadian High Commissioner to Bangladesh Benoit Préfontaine, Professor of Bangladesh University of Engineering and Technology (BUET) Rakib Ahsan and Cosmos Group director Tehmina Enayet also addressed the seminar.
University of Ottawa, Department of Civil Engineering, has designed the BRB System and Earth Quake Engineering Department of the same university conducted the testing with a high degree of success.
This BRB System is a seismic retrofit technique that is intended to upgrade the existing RC or steel frame structures to protect from earthquakes.
The purpose of BRB is to avoid buckling of the supporting brace during a seismic event, speakers said at the seminar.
About Bangladesh-Canada bilateral trade, the Canadian High Commissioner said the bilateral business of the two nations is growing and many Canadian companies are visiting Bangladesh with keen interest to launch joint ventures in the country.
He said the bilateral businesses of the two countries have reached a new height of $3 billion.
Benoit Préfontaine said the new technology offered by the Canadian firm will be very effective for a big market like Bangladesh where there is an earthquake risk.
Prof Rakib Ehsan said the existing technology to control earthquake vibration is very costly while BRB technology is cost effective and affordable for a country like Bangladesh.
He explained different aspects of the new technology which was tested in Buet laboratory and said he is fully confident about its effectiveness.
Prof Rakib said the available technology to control earthquake vibration is conventional and traditionally designed. “But BRB technology is non-conventional and easy to install.”
He, however, said this technology’s success will depend on the design of the building.
SCL director Abdul Malik said his firm will try to export this technology to other countries of the region like India, Pakistan, Nepal and Bhutan.
He said the test of BRB System in Canada and other countries found that it can absorb tremor having a magnitude up to 12 on the Richter scale. This new technology will also help create jobs for local manpower, he added.