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Islami Bank Bangladesh Limited (IBBL) will issue “IBBL Mudaraba Redeemable Subordinated Bond” worth Tk 5.0 billion, said an official disclosure on Tuesday. “The board of directors has taken the decision to raise the Tier-II Capital of the Bank under Basel-III through issuance of 7 years non-convertible “IBBL Mudaraba Redeemable Subordinated Bond” of Tk 5.0 billion under Mudaraba principle of Islamic Shari’ah,” said the disclosure. However, the issuance of bond is subject to the approval of Bangladesh Bank (BB) and the Bangladesh Securities and Exchange Commission (BSEC), the disclosure said. Each share of the bank, which was listed on the Dhaka bourse in 1985, closed at Tk 41.30 on Monday at DSE. However, after massive reshuffle in the bank’s top positions in early January, the bank’s share price reached to Tk 48 each, soaring 60 per cent. Changes have been made to the posts of the bank’s chairman, managing director, heads of various committees and chief of the Islami Bank Foundation in line with a decision at the bank’s board meeting on January 5. Officials said some companies have bought the bulk of the local shares in the Islami Bank over the last one and a half years, leading to the latest reshuffle at its top level. The bank’s third quarter (Q3) consolidated earnings per share (EPS) stood at Tk 0.46 for the July-September period of 2016 as against Tk 0.33 for the same period a year ago. The bank’s paid-up capital is Tk 16.10 billion and authorised capital is Tk 20 billion, while the total number of securities is 160.99 million. The sponsor-directors own 71.69 per cent stake in Islami Bank, while institutional investors own 5.04 per cent, foreign investors 6.38 per cent and the general public 16.89 per cent as on December 29, 2016, the DSE data shows. -bb/rmc//....

Published at: 2017-02-07 00:00:05

                                                A two-day international business conference Asia Pacific Business Forum (APBF) jointly organised by the International Chamber of Commerce (ICC) Bangladesh, The world business organization and the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) will be held on 8-9 February 2017 in Dhaka, This is the first time Bangladesh is a host country to organise APBF, according to a statement issued by ICC-Bangladesh. The theme of the Forum is “Regional Integration to Achieve Sustainable Development” as envisaged by the United Nations’ Sustainable Development Goals (SDGs) 2030. APBF is a multi-stakeholder forum held annually with the mission to provide the best platform for regional public-private dialogue on the role and needs of business in achieving inclusive, resilient and sustainable development. Besides international speakers and experts, there are more than 400 delegates registered for this conference being held at Dhaka for the first time from home and abroad. It is being attended by members from the Asia and Pacific countries from the governments, civil society and the business. The forthcoming APBF 2017 will be inaugurated by Md. Abdul Hamid, President of the People’s Republic of Bangladesh on February 8. Distinguished speakers of the Inaugural session are Mr. Abul Maal Abdul Muhith, M.P., Minister of Finance, Bangladesh;  Mr. Tofail Ahmed, M.P., Minister of Commerce, Bangladesh; Mr. Romi Gauchan Thakali, Minister for Commerce, Nepal; Mr. Rishad Bathiudeen, Minister of Industry and Commerce, Sri Lanka; Dr. Mukhisa Kituyi, Secretary General, UNCTAD; Dr. Shamshad Akhtar, Under-Secretary-General of the United Nations and Executive Secretary of ESCAP; Mr. Wencai Zhang, Vice-President (Operations), Asian Development Bank (ADB); Dr. Victor K. Fung, Group Chairman, Fung Group, Honorary Chairman, Li & Fung Ltd. and Former Global ICC Chairman , Mr. Mahbubur Rahman, President, International Chamber of Commerce Bangladesh and Chairman ETBL Holdings Limited; & Mr. Latifur Rahman, Vice President ICC Bangladesh and Chairman Transcom Group. On February 9 there will be one plenary and 6 business sessions. The plenary session will be on Linking Business with the Sustainable Development Goals: What Can We Do?” The moderator of the session is Mr. Tofail Ahmed, M.P. Minister of Commerce, Bangladesh. APBF will hold its substantive Sessions linked to the theme of “Promoting Trade and Investment for the Successful Implementation of SDGs” on the following topics: 1.    Devising Strategies for Resilience: Role of Business in Disaster Risk Reduction and Climate Change Adaptation.The Moderator of this session will be Mr. Asif Ibrahim, Chair of the ESBN Task Force on Disaster and Climate Risk Reduction. 2.    New Energy Realities: Building a Resilient and Low-carbon Future.The Moderator of this session will be Mr. Nazimuddin Chowdhury Secretary, Energy and Mineral Resources Division, Government of Bangladesh. 3.    Supporting Trade and Transport Facilities for Regional Integration. The moderator will be Mr. Hedayetullah Al Mamoon, ndc, Senior Secretary, Ministry of Commerce Senior Commerce Secretary of Bangladesh. 4.    Supporting SDGs through Digital Financial Models by Inclusive Business. The Moderator will be Dr. Salehuddin Ahmed, Former Governor, Bangladesh Bank 5.    Supporting and Empowering Disadvantaged MSMEs to Become More Competitive and Sustainable. The Moderator will be Mr. Hedayetullah Al Mamoon, ndc, Senior Secretary, Ministry of Commerce and 6.    Economic Outlook and Key Policy Challenges in Emerging Asia. This session will be moderated by Mr. Masato Abe, Economic Affairs Officer, Business and Development Section, Trade, Investment and Innovation Division, UNESCAP. On 9 February in Plenary Session (at 9.30 a.m. to 11.30 a.m.) the speakers are: Mr. Romi Gauchan Thakali, Minister for Commerce, Nepal; Mr. Rishad Bathiudeen, Minister of Industry and Commerce, Sri Lanka; Prof. Dr. Gowher Rizvi,  Adviser for International Relation Affairs to the Prime Minister, Bangladesh; Dr. A. B. Mirza Md. Azizul Islam, former Advisor to the Caretaker Government of Bangladesh, In-charge of Ministries of Finance and Planning, Bangladesh; Dr. Mukhisa Kituyi, Secretary General, UNCTAD; Mr. Wencai Zhang, Vice-President (Operations), Asian Development Bank (ADB); Tan Sri Dato’ Dr. Michael Yeoh, Chief Executive Officer/Director, Asian Strategy & Leadership Institute (ASLI); Mr. Abul Kalam Azad, Principal Coordinator, Sustainable Development Goals (SDG) Affairs.  Introductory remarks will be delivered by Dr. Shamshad Akhtar, Under-Secretary-General of the United Nations and Executive Secretary of ESCAP where the moderator of the session is Mr. Tofail Ahmed, Minister of Commerce, Bangladesh. The theme of the plenary session is “Linking Business with the Sustainable Development Goals: What Can We Do?” Speakers of the parallel session one (at 12:00- 13:30) will be Mr. Puji Pujiono, Regional Adviser on Disaster Risk Reduction, ESCAP, Mr. Emdadul Haque, Additional Secretary, Executive Member Planning & Development, Bangladesh Economic Zones Authority (BEZA), Mr. Daniel Gilman, Humanitarian Affairs Officer, Regional Partnerships Unit, UN OCHA Regional Office – Asia Pacific, Mr. Md. Abdul Jabbar, Managing Director, DBL Group, Mr. Nirvana Chaudhary, Managing Director, Chaudhary Group, Nepal, Ms. Madhura Mitra, Manager - Sustainability, Pricewaterhouse Coopers India,  Mr. Jared Berends, Mr.Karma C. Nyedrup, Environment Specialist, National Environment Commission, Royal Government of Bhutan. The Moderator of this session will be Mr. Asif Ibrahim, Chair of the ESBN Task Force on Disaster and Climate Risk Reduction. This session’s theme is Devising Strategies for Resilience: Role of Business in Disaster Risk Reduction and Climate Change Adaptation. Speakers of parallel session two will be Prof. Ainun Nishat, Professor Emeritus, Centre for Climate Change and Environmental Research, Bangladesh, Mr. Abrar A. Anwar, Chief Executive Officer, Standard Chartered Bank Bangladesh, Dr. Arbind Kumar Mishra, Member of Nepal Planning Commission, Nepal, Dr. Arunabha Ghosh, Chief Executive Officer, Council on Energy, India, Mr. Karma Tshewang, Chief Engineer, Department of Hydropower & Power Systems (DHPS), Bhutan, Mr. Kensuke Tanaka, Head of Asia Desk, OECD Development Centre, Prof. Dr. Badrul Imam, Department of Geology, University of Dhaka, Mr. Mahmood Malik, Chief Executive Officer of Infrastructure Development Company Ltd. (IDCOL), Bangladesh. The Moderator of this session will be Mr. Nazimuddin Chowdhury Secretary, Energy and Mineral Resources Division, Government of Bangladesh. New Energy Realities: Building a Resilient and Low-carbon Future is the theme of this session. Parallel session three will be moderated by Mr. Hedayetullah Al Mamoon, ndc, Senior Secretary, Ministry of Commerce  of Bangladesh where the speakers will be Mr. Md. Nojibur Rahman, Senior Secretary – IRD & Chairman, National Board of Revenue (NBR), Ministry of Finance, Amb. Mr. Mahbub Uz Zaman, Secretary (Asia & Pacific),  Ministry of Foreign Affairs, Bangladesh, Ms. Wendy Jo Werner, Country Manager, Bangladesh, Bhutan & Nepal, IFC, World Bank Group, Dr. Ravi Ratnayake, Adviser to the Agency for International Trade, Ministry of Development Strategies and International Trade, Sri Lanka, Prof. Mustafizur Rahman, Executive Director, Centre for Policy Dialogue (CPD),Bangladesh, Mr. Naser Ezaz Bijoy, Country Head of Banking, Standard Chartered Bank Bangladesh, Mr. David Morris, Chief Representative (Trade Commissioner), Pacific Islands Forum Secretariat and Pacific Islands Trade & Invest, Mr. Bipul Chatterjee, Executive Director CUTS International, India, Prof. Sheikh Morshed Jahan, Institute of Business Administration University of Dhaka. The theme of this session will be Supporting Trade and Transport Facilities for Regional Integration. Business session one will be moderated by Dr. Salehuddin Ahmed, Former Governor, Bangladesh Bank where the speakers will be Mr. Arastoo Khan, Chairman,Islami Bank Bangladesh Ltd. Prof. Dr. Naoyuki Yoshino, Dean, Asian Development Bank Institute (ADBI), Prof. Barbara Meynert, Chair of the ESBN Task Force on Digital Economy, Mr. George Kam Ho Yuen, Board Director, Industrial and Commercial Bank of China (Asia), Mr. Phang Yew Kiat, Vice Chair and CEO of Credit China FinTech Holding Limited, Mr. Sohail R. K. Hussain, Managing Director & CEO, The City Bank Limited, Mr. Kamal Quadir, Chief Executive Officer, bKash Limited, Mr. Mahtabuddin Ahmed, Managing Director and CEO, Robi Axiata Limited, Mr. Muhammad A. (Rumee) Ali, Chairman, ICC Bangladesh Banking Commission & CEO of Bangladesh International Arbitration Centre (BIAC), Mr. Vineet Sachdev, Director, BOSS BPO,(a unit of Bahri Trading Company, Sachdeva Group). The theme of this session will be Supporting SDGs through Digital Financial Models by Inclusive Businessfrom 1:30-2:30 pm. Business Session Two will be Moderated by Mr. Md. Mosharraf Hossain Bhuiyan, ndc, Senior Secretary, Ministry of Industries of Bangladesh. Speakers are Mrs. Rokia Afzal Rahman, Vice President, ICC Bangladesh and Chairman, Arlinks Limited, Mr. Suren Vardanyan, Vice-President of the Moscow Chamber of Commerce and Industry, Russia, Mr. Philip Kucharski, Chief Operating Officer, International Chamber of Commerce (ICC), Prof. Ken Yan Cheng Pan, President, Trade & Industry Association (Singapore), Dr. Sandro Calvani, Senior Adviser on Strategic Planning, Mae Fah Luang Foundation, Thailand, Dr. Momtaz Uddin Ahmed, Director, SME Foundation and Honorary Professor, Department of Economics, Dhaka University, Bangladesh, Mr. Karma Tshewang, CEO,GRED, Thimphu, Bhutan, Ms. Sampa Banerjee, Executive Director, World Association for Small and Medium Enterprises (WASME). This session will be moderated by Mr. Md. Mosharraf Hossain Bhuiyan, ndc, Senior Secretary, Ministry of Industries of Bangladesh on Supporting and Empowering Disadvantaged MSMEs to Become More Competitive and Sustainable. The session on Economic Outlook and Key Policy Challenges in Emerging Asia will be moderated by Dr. Masato Abe, Economic Affairs Officer, Business and Development Section, Trade, Investment and Innovation Division, UNESCAP. Presentation on Economic Outlook for Southeast Asia, China and India 2017: Addressing Energy Challenges will be given by Mr. Kensuke Tanaka, Head of Asia Desk, OECD Development Centre. Other discussants will be Dr. Khan Ahmed Sayeed Murshid, Director General, Bangladesh Institute of Development Studies(BIDS), Dr. Khondoker Golam Moazzem, Additional Director-Research Centre for Policy Dialogue (CPD). This session will be from 16:00-17:30. The closing session will be moderated by Mr. Debapriya Bhattacharya, Distinguished Fellow, Centre for Policy Dialogue (CPD) and closing remarks will be delivered by Dr. Hongjoo Hahm, Deputy Executive Secretary, ESCAP and Mr. Mahbubur Rahman, President, ICC Bangladesh. After the concluding session there will be a press briefing chaired by Mr. Mahbubur Rahman, President, ICC Bangladesh to draw the curtain of this international event. -rmc//  ....

Published at: 2017-02-07 00:00:05

A woman was killed and 17 other people were injured following a head-on collision between a bus and a minibus on Dhaka-Mawa Highway at Teghoria, Keraniganj on Sunday. The deceased could not be identified immediately, reports UNB. Sub-inspector of South Keraniganj Police Station Abdur Rahim said the accident took place around 8:00pm when the bus collided with the minibus on the road in the area, leaving the woman dead on the spot and 17 other passengers injured. Of the injured, 10 were taken to Dhaka Medical College Hospital (DMCH) while the rest seven sent to Mitford Hospital, added the police official.....

Published at: 2017-02-06 00:00:05

President Donald Trump says he has told US border officials to check people entering America "very carefully", as his travel ban remains suspended. He said the courts were "making the job very difficult", and should take the blame if something happened. The federal appeals court on Saturday rejected the Trump administration's request to reinstate the ban. The ban, affecting people from seven mainly-Muslim countries, was blocked by a federal judge on Friday. This means that Mr Trump's directive will remain suspended and visa holders Iraq, Syria, Iran, Libya, Somalia, Sudan and Yemen will be allowed to enter the US until the full case has been heard. The White House and two US states challenging the ban have been given a deadline of Monday to present more arguments. President Trump on Sunday ramped up his criticism of Seattle Judge James Robart, who blocked the ban, and the country's judiciary. In a series of tweets, Mr Trump said: "I have instructed Homeland Security to check people coming into our country VERY CAREFULLY." "Just cannot believe a judge would put our country in such peril. If something happens blame him and court system. People pouring in. Bad!" The president earlier called Judge Robart's ruling "ridiculous", described him as a "so-called judge". US BORDER CHECKS # All persons arriving at a US port of entry are inspected by Customs and Border Protection (CBP) officers # Visitors must have valid US visas or hold 'Green Cards' that authorise them to live and work in the US permanently # Travellers under the Visa Waiver Program must apply for authorisation via ESTA (Electronic System for Travel Authorization) before their visit # Visitors must complete declaration forms # Travellers may have their fingerprints and photos taken # CBP officers may also ask to inspect luggage or personal items # CBP uses biometric technologies to verify travellers' identities # Travellers from certain countries can use Automated Passport Control (APC) In its appeal, the Justice Department said Judge Robart had overreached by "second guessing" the president on a national security matter. It also argued that only the president could decide who can enter or stay in the US. The two states challenging the restriction - Washington and Minnesota - argued that the ban was unconstitutional and denied people with valid entry documents the right to travel without due process. It also violated freedom of religion rights by appearing to target Muslims, they said. WHAT HAPPENS NOW - BBC'S ANTHONY ZURCHER, WASHINGTON The next step is for briefs to be filed by both sides for a formal review of Judge Robart's suspension on Monday. The Justice Department could have appealed directly to the Supreme Court on an emergency basis, but it chose not to since the appeal court is moving fairly quickly. If the appeal court decides the stay is valid - perhaps as early as next week - then a Supreme Court appeal is almost certain. In the meantime, everything is on hold. US immigration processes continue as they did before Mr Trump issued his executive order. If it looks like this is bogging down, the president might eventually decide to modify the order rather than try to defend its legality. That's probably the most prudent course, but he's a stubborn man. Democrats and some Republicans have criticised Mr Trump's comments about the country's judiciary. Democratic Senator Patrick Leahy, a member of the Senate Judiciary Committee, said Mr Trump seemed "intent on precipitating a constitutional crisis". Meanwhile, Republican Senate leader Mitch McConnell told CNN it was "best to avoid criticising judges individually". Judge Robart has served on the federal bench since 2004 after nomination by President George W Bush. Friday's ruling has also seen visa holders from the affected nations scramble to get flights to the US, fearing they have a slim window to enter. The State Department has been reversing visa cancellations and US homeland security employees have been told by their department to comply with the ruling. The ban caused confusion at US and foreign airports when it came into force.  ....

Published at: 2017-02-06 00:00:05

South Korea said on Monday it will strengthen lithium-ion battery safety requirements and conduct regular inspections to avoid repeats of fires which forced Samsung Electronics Co Ltd to withdraw its premium Galaxy Note 7 handset, reports Reuters. Manufacturers of lithium-ion batteries, commonly used in portable devices, would be subjected to greater oversight and regular inspections, the Ministry of Trade, Industry and Energy said in a statement. Devices using lithium-ion batteries also would be subjected to more regular safety tests, it added. "We ask that the industry shares the view that making efforts to ensure safety is equally as critical as developing new products through technological innovation," Vice Minister Jeong Marn-ki said in the statement. Samsung was forced to scrap the near-$900 Note 7 smartphones in October after some of the devices caught fire due to faulty batteries, wiping out about $5.4 billion in operating profit over three quarters. Samsung and independent investigators said in January that different battery problems from two suppliers - Samsung SDI Co Ltd and Amperex Technology Ltd - caused some Note 7s to combust. A separate probe by the Korea Testing Laboratory also found no other cause for the Note 7 fires other than a combination of manufacturing and design faults with the batteries, the trade ministry said. The government also said it would monitor Samsung's efforts to improve battery safety, such as x-ray testing and stricter standards during the design process. It would strengthen recall-related requirements by broadening the types of serious product defects that manufacturers should report to the government, and seek legal changes to allow the government to warn consumers to stop using certain products even if they had not been recalled.....

Published at: 2017-02-06 00:00:05