Business Archives - Page 54 of 100

Nov32024 by No Comments

Ethiopian Airlines Launches Operations in Bangladesh

Ethiopian Airlines, Africa’s largest carrier, marked its official entry into Bangladesh today with the arrival of its inaugural flight on the Addis Ababa-Dhaka-Addis Ababa route. This significant milestone was celebrated at HazratShahjalal International Airport (HSIA) as Ethiopian Airlines’ Boeing 787-900 Dreamliner, flight ET 678, touched down at 8:45 a.m., receiving a ceremonial water cannon salute. The water cannon salute, a traditional aviation welcome, honored Ethiopian Airlines’ arrival as a new operator, with sprays of water arching over the aircraft upon landing to mark this momentous occasion. The return flight departed HSIA for Addis Ababa at 9:45 a.m., initiating regular services between the two capitals. Operating five flights weekly, Ethiopian Airlines offers Bangladeshi t...

Nov12024 by No Comments

Xiaomi Ranks in the Best 100 Companies in the World

Breaking News, Business

Xiaomi has once again demonstrated its strong global presence by securing in the top 100 global brand in the prestigious Interbrand Global Best Brands Ranking 2024. Securing the 87th position in the 2024 Interbrand Global Best Brands Ranking, Xiaomi continues to reinforce its status as a major global tech player. For the past 25 years, the Interbrand Global Best Brands Ranking has served as a significant benchmark for global brand excellence, and Xiaomi’s recent achievement is a testament to its ever-growing influence. According to Inerbrand’s ranking Xiaomi’s brand value has now reached USD 8 billion, marking around 10% year-over-year growth and highlighting its resilience in a competitive market. The company's dedication to creating top-tier products has resonated globally, evident fro...

Nov12024 by No Comments

BASIS’s has New Leadership

Breaking News, Business

M Rashidul Hasan has become the new president and Mostafizur Rahman Sohel, senior vice president of Bangladesh Association of Software and Information Services (BASIS).This development follows the resignations of former President Russell T. Ahmed and Vice President (Finance) Iqbal Ahmed Fakhrul Hasan, creating vacancies in both positions. In an urgent executive committee meeting held on Wednesday, October 30, 2024, the BASIS Executive Committee (2024-26) voted to elevate Senior Vice President MRashidul Hasan to President, Director Md. Mostafizur Rahman Sohel to Senior Vice President, and Director M Asif Rahman to Vice President (Finance). In its 332nd meeting, the committee members collectively decided to proceed without co-opting any external members, intending to manage all functions ...

Oct312024 by No Comments

United Commercial Bank brings VISA Payment Gateway Solution “CyberSource”

Breaking News, Business

United Commercial Bank PLC (UCB) has officially launched CyberSource, a Visa payment gateway solution aimed at enhancing payment management for businesses and merchants. This advanced solution offers secure, efficient, and scalable payment processing tailored to diverse client needs. The launch event, held at UCB's corporate office in Dhaka, marks a strategic move by UCB to support businesses in the digital economy. Mohammad Mamdudur Rashid, Managing Director & CEO of UCB, and Sabbir Ahmed, Visa's Country Manager for Bangladesh, signed the partnership agreement. Key figures present included Md Abdullah Al Mamoon, Deputy Managing Director and COO of UCB, and Golam Yeazdani, Head of Digital Banking & Transformation, along with other senior officials. Expressing optimism, Mohamm...

Oct312024 by No Comments

Electric Motorcycle Brand Revoo Bangladesh Launches Thakurgaon Showroom

Breaking News, Business

Revoo Bangladesh, a renowned global electric motorcycle brand, is thrilled to announce the grand opening of its new showroom in Thakurgaon at Rahabar Market, Panchaghar Road. This launch marks an exciting new chapter in Revoo’s mission to bring sustainable, Smart, innovative transportation solutions to communities across Bangladesh, expanding accessibility to smart mobility in the northern regions. The Thakurgaon showroom will feature Revoo’s full lineup of electric motorcycles, including the versatile A01, the efficient and feature-rich C00, and the high-performance luxury model C03. The A01 is tailored as the perfect commuting partner, offering safety and reliability for everyday travel. Meanwhile, the C00 combines advanced features with affordability, reaching a max speed of 55 km/h ...

Oct312024 by No Comments

Robi’s revenue tumbles for internet shutdown and flash flood

Breaking News, Business

The prolonged internet shutdown and the devastating flash flood dealt a heavy blow to Robi’s revenue for the third quarter (July-Sept) of the year (Q3’24), as the company’s revenue declined by 5% from last quarter. The company reported a revenue of 2,474.4 crore taka for Q3’24, reflecting a year-on-year (YoY) decrease of 2.7%. For the first nine months of the year, total revenue reached 7,594.6 crore taka, marking a 2.2% growth from the same period last year. In Q3’24, voice revenue increased by 3.7%, while data revenue saw a significant decline of 15.5% compared to the previous quarter. YoY voice revenue grew by 3.9%, while data revenue decreased by 10.3%. Robi shared this information in a press release today. The Company’s active subscribers base decreased to 5 crore 79 lakhs du...

Oct302024 by No Comments

Nahian Rahman Rochi Appointed Head of Business Development at BIDA

Breaking News, Business

Bangladesh Investment Development Authority (BIDA), the country’s leading investment promotion agency, has appointed Nahian Rahman Rochi as its new Head of Business Development. This key role, announced in an official notification from BIDA, aims to support the agency’s mission to foster economic growth and enhance Bangladesh’s appeal as an investment destination. In this position, Mr. Rochi will join BIDA’s senior leadership team, which includes high-ranking officials from the public administration. Reporting directly to the Executive Chairman, he will focus on advancing investment opportunities and improving Bangladesh’s business environment, aiming to create a more attractive landscape for investors. "I am happy to join BIDA and excited with the opportunity to contribute to Bangla...

Oct302024 by No Comments

UCB’s net profit saw 32% increase as third quarter ends, stands at BDT 262 Crore

Breaking News, Business

United Commercial Bank PLC Limited (UCB), held its 501st Board meeting on recently at its corporate head office. The meeting was presided by the distinguished businessperson and Chairman of UCB Sharif Zahir. Md Shazzad Hossoin, vice-chairman of UCB; Md Yusuf Ali, chairman of the risk management committee; Obaidur Rahman, chairman of the audit committee; and Mohammad Mamdudur Rashid, managing director and CEO of UCB were all present in the meeting along with others from the senior management. In this meeting, the Board approved the financial statements of Q3'24. The statements have reported a significant 32% increase in net profit for the first nine months of 2024. The bank's net profit after tax reached BDT 262 crore, up from BDT 199 crore in the same period last year, driven by higher i...

Oct222024 by No Comments

Backpage PR Appointed by Daraz Bangladesh for Strategic Communications Partnership

Breaking News, Business

The largest online marketplace in Bangladesh, Daraz, has appointed Backpage PR, a Starcom Bangladesh company to manage PR duties for three months. This collaboration aims to strengthen Daraz's communication strategies and boost positive brand visibility among the local communities. A Memorandum of Understanding (MoU) signing ceremony was held earlier to kickstart the collaboration with representatives from both organizations. Founded in 2015, Daraz is South Asia's leading e-commerce platform, operating in five countries and serving 500 million people. It integrates e-commerce, logistics, and financial services to offer a personalized shopping experience and empower communities through the power of commerce.

Oct192024 by No Comments

ATAB issues 9-point demand to remove syndicates & discrimination

Breaking News, Business

It is crucial to issue guidelines by the concerned ministry to prevent trade discrimination, says the association presidentThe Association of Travel Agents of Bangladesh (ATAB) has put forward a nine-point demand that includes the formulation of guidelines on group ticketing and measures to stop hoarding and syndicates in air ticket sales. It also sought the formulation of appropriate regulations for managing online travel agency (OTA) businesses. "The expansion of the travel agency business has created opportunities. But it also brought challenges like discrimination and irregularities among the businesses," said ATAB President Abdus Salam Aref at a press conference held at a Dhaka hotel today (19 October). "Immediate steps must be taken to stop the provision of incentives against the ...