Petrobangla, PDB oppose power and
energy cos share offloading
Staff Correspondent
Petrobangla and Power Development Board on Tuesday recommended to the government not to offload shares of state-run power and energy companies claiming that such divestment would not bring overall improvement in the crisis-stricken power and energy sectors.
Officials of Petrobangla and Power Development Board made the recommendation at a meeting held at the ministry of power and energy with state minister Md Enamul Haque in the chair.
The meeting was convened to discuss ways to carry out a finance ministry order, given on January 13, to offload through capital market up to 49 per cent shares of 11 companies under the power and energy ministry by June, 2010.
The companies under Petrobangla are Bangladesh Gas Fields Company Limited, Sylhet Gas Fields Limited, Jalalabad Gas Transmission and Distribution Systems Limited, Bakhrabad Gas Systems Limited, Pashchimanchal Gas Company Limited, Rupantarito Prakritik Gas Company Limited and Gas Transmission Company Limited.
The state owned power sector companies are Dhaka Electric Supply Company, Power Grid Company of Bangladesh and Rural Power Company Limited.
The finance ministry asked Desco and PGCB, which already offloaded 25 per cent of their shares, to divest 15 per cent more.
The finance ministry also asked Liquefied Petroleum Gas Limited, a subsidiary of the Bangladesh Petroleum Corporation, to divest 49 per cent of its shares.
Petrobangla chairman Hossain Mansur told the meeting that although the finance ministry had directed them to offload 49 per cent shares, the parliamentary standing committee on power and energy ministry chided Petrobangla officials for offloading the government shares.
‘What decision should we take now as the finance ministry and the parliamentary standing committee have given us contradictory orders? The standing committee does not want us to offload government shares from the profitable companies,’ Mansur was quoted by a source, who was present at the meeting.
He said that he also thought there was no need to offload shares of gas companies as they were already making profit. ‘The companies can make fresh investment from their profits,’ he observed.
PDB chairman Alamgir Kabir also opposed the move to offload shares of the state-run power companies.
He said although some Desco shares were offloaded, there was no visible benefit for the power sector as a whole.
‘Desco purchases electricity at a lower rate, even below the generation cost, from PDB and makes profit by selling that power. But PDB on the other hand is a loss making organisation as it is forced to sell power at lower rate,’ he said.
Alamgir said that PDB had to borrow over Tk 1,000 crore from the government to cope with the losses. ‘Ultimately the power companies and some traders are making profit out of sales of DESCO shares.’
Power secretary M Abul Kalam Azad then decided to form a committee which would examine how the shares of the state-run companies could be divested for the benefit of the sector as well as in greater interest of people.
The committee to be formed soon would be asked to submit its report within a short time, said one of the sources.
The finance ministry earlier gave an order for offloading government shares as the country’s over-heated stock markets were facing a dearth of quality shares.
A high official of a state-run power company, however, told New Age that it was not right that offloading of shares could not bring any benefit to the sector.
‘For example, Desco and Titas jointly raised over Tk 1,500 crore by selling their shares. This money can be used for power generation and gas field development. The government should give a clear direction how the money will be used,’ he said.
DSE keeps record-breaking run
despite regulator’s interventions
Bangladesh Sangbad Sangstha . Dhaka
Dhaka Stock Exchange maintained a bullish trend to make a new record despite the regulators’ repeated interventions.
The benchmark index of the stock exchange crossed 5600-point mark at Tuesday’s close, dodging effectively the impact of the recent regulatory steps to ease the extraordinary demand on the market.
The Securities and Exchange Commission on its latest move on Monday discontinued the netting facility to Grameenphone, the apparent dominator of the stock market.
Discontinuation of netting facility means no person shall be allowed to buy GP shares against the sales proceedings of other securities within the existing settlement and clearance period. The directive, however, comes into force today.
Stockbrokers are expecting a decrease in the fund flow to the market as many investors will not be able to buy GP shares using their fund from changing portfolio under netting system.
The SEC earlier cut the margin loan facility to ease the persisting liquidity glut on the stock market.
The moves of the SEC got some negative criticism among market observers as many believe such a quick decision would only send a wrong signal to the market.
The fund flow to the market, however, remains high, eventually influencing share prices and the index upward.
The DSE turnover rose substantially to Tk 1,295 crore on Tuesday, up from Monday’s Tk 1,207 crore, when the index finished 50.32 points, or 0.90 per cent, higher at 5603.18.
GP was the day’s market leader with a turnover of over Tk 178 crore for 5,6,72,800 shares. The company on Tuesday announced a net profit after tax of over Tk 844 crore with a basic earning per share of Tk 6.44. Last year, GP earned a Tk 260 crore net profit when the EPS was Tk 2.14.
The day’s top gainer was the new entrant RN Spinning Mills. The company gained 419 per cent on its debut trading on Tuesday.
Other major advanced issues were People Insurance, Maksons Spinning Mills, Fuwang Food and City Bank.
Lentil prices fall with good
local harvest prospect
Kazi Azizul Islam
Although farmers are expecting a good harvest of local variety lentils this year, market observers feel they would in no way meet the domestic demand for the staple cereal round the year.
Market sources told New Age that a good prospect of local lentil harvest already pushed down the price of red lentil by more than 15 per cent at wholesale market in last one and a half months.
At wholesale market, price of fine grade local and Nepal-origin red lentil peaked up to Tk 136-138 per kilogram, just one a half months back. But they were being sold at Tk 114-116 on Monday at Rahmatganj, the country’s largest wholesale market for pulses and lentils.
Traders at Rahmatganj admitted that a good forecast on local lentil harvest had been playing a significant role in pushing down prices.
‘As the early harvested lentil will hit the market by the end of this month and a good prospect is there this year that the price of lentil is going to fall,’ Shafi Mahmud, president of the Bangladesh Pulses Merchant Association told New Age.
He said that after experiencing a record high prices for red lentils last year, the farmers brought more lands for lentil cultivation this season.
‘We are informed that lentil cultivation has expanded this year in major lentil producing areas including Jessore, Kushtia and Faridpur,’ said Mahmund.
He pointed out that a record price of lentils last year might have inspired the farmers to bring
more lands under lentil cultivation while favorable weather helped them grow well.
Mahmud further pointed out that following a suspension on red lentil exports from Nepal, prices of fine grade red lentils had gone up to a record high level a couple of months back.
‘Imports from Nepal started again and it is also leaving its effect role in declining prices,’ he argued.
Red lentils of grown in Bangladesh, India and Nepal are much admired by local consumers due their better taste.
Due to a ban on export of lentils from India for more than a couple of years, Bangladeshi traders now depend on Nepal for souring fine grade red lentils.
Abul Basher Chowdhury a Chittagong-based leading importer of lentils and pulses said Bangladesh consumes nearly 2,50,000 tonnes of red lentils annually but local production remains less than 40,000 tonnes.
Nepal, Canada and Australia have been the major import source for lentil and pulse traders as export ban continued in India and some past bad harvests in Turkey also halted exports from there.
Toyota announces mass
Prius recall
Agence France-Presse . Tokyo
Toyota said Tuesday it was recalling hundreds of thousands of hybrid vehicles globally, including its best-selling Prius, plunging it deeper into crisis as lawsuits in the United States piled up.
Toyota, facing a barrage of complaints ranging from unintended acceleration to brake failure, is scrambling to reassure drivers it did not sacrifice safety in its successful drive to be the world’s largest automaker.
But in another heavy blow to its brand image, long synonymous with reliability and quality, Toyota said it was pulling 4,37,000 Prius and other hybrid vehicles from the road to repair a flaw in the braking system.
The company is now recalling almost 8.7 million vehicles around the world — far more than its entire 2009 global sales of 7.8 million vehicles.
Toyota ‘will do everything in our power to regain the confidence of our customers,’ its president Akio Toyoda said at a news conference, offering yet another apology to customers for the technical troubles.
The Toyota family scion, under fire for his handling of the crisis, said he planned to travel to the United States to explain the safety woes, but will not personally attend a US congressional hearing on Wednesday.
Toyota is facing a raft of lawsuits in the United States. In one of the latest, a California woman is alleging her Prius has severe braking problems which make it dangerous to drive.
Lawyers for the plaintiff are pursuing what is believed to be the first class-action lawsuit over the faulty Prius brakes, which would add to legal troubles Toyota faces over the accelerator problems.
The company is pulling roughly 2,23,000 hybrid vehicles in Japan and about 1,47,500 in the United States due to a problem with the anti-lock braking system, in a recall that also extends to Europe and other markets.
The move covers the newest petrol-electric Prius as well as the plug-in Prius, the Sai sedan and the Lexus HS250h. It will suspend sales in Japan of the Sai and Lexus HS250h while it develops a fix for those vehicles.
GP’s revenue, subscription increase
Staff Correspondent
The revenue of Grameenphone for the fourth quarter in 2009 stood at Tk 1,675 crore, up by 2.6 per cent in comparison with that of the same period in 2008, said a press release of the cell phone operator on Tuesday.
The revenue increase, however, excluded onetime recognition of arrear interconnection revenue, it said.
The growth was mainly led by higher subscription base and tariff revision. Total revenue for this quarter was also increased by 1.3 per cent from the third quarter of 2009, the release said.
It also said Grameen-phone witnessed an increased subscription growth in the last quarter of 2009 with start-up campaigns pushing the total number of subscriptions over the 23 million.
The number of subscriptions increased by 1.3 million during the quarter compared against 0.2 million in the same quarter of 2008. GP’s subscription base reached at 23.3 million with 44.4 per cent market share at the end of 2009.
However, average revenue per user in this quarter decreased from Tk 268 to Tk 244 crore in comparison with that of the last quarter of 2008 mainly due to reduced interconnection rate from 26 March 2009.
Pointing out the surge in GP’s subscription growth on introduction of reduced start-up price, the Grameenphone CEO Oddvar Hesjedal said that ‘the SIM tax continues to be a significant bane for the industry and a barrier for tele-penetration in the country’.
‘Despite a global recession, Grameenphone has had a good quarter in terms of subscription growth and its financial consolidation,’ the CEO added.
Grameenphone’s shareholding structure after the IPO stood at 55.8 per cent for Telenor, 34.2 per cent for Grameen Telecom, and 10 per cent to general retail and institutional investors.
GP, Banglalink to share
infrastructure
Staff Correspondent
Grameenphone and Banglalink, two major mobile phone operators in Bangladesh, have signed an agreement on infrastructure sharing to provide better services to the customers of both the companies.
Grameenphone chief executive officer Oddavar Hesjedal and Banglalink CEO Ahmed Abou Doma announced the agreement on Tuesday at a press conference at Hotel Sonargaon Hotel in the city.
Oddvar said they had not yet decided on the amount of sharing. He also said that it had made a similar deal with another mobile phone operator, AKTEL
Bangladesh Telecommunication Regulatory Commission chairman, Zia Ahmed, who was present in the press conference, said that agreement of the two mobile operators would help in improving telecom sector in the country.
BASIS SoftExpo begins today
Staff Correspondent
A five-day exposition of software and information technology enabled services will begin at the Bangabandhu International Conference Centre in the city today.
The Bangladesh Association of Software and Information Services has organised the ‘BASIS SoftExpo-2010’ with the theme ‘Digital Bangladesh in Action’.
Finance minister Abul Maal Abdul Muhith is expected to inaugurate the exposition today, said Rezaul Hassan, a member of the organising committee Tuesday.
About 150 firms from home and abroad, including from countries like Japan, Denmark, UK and the USA, are expected to participate in the exposition.
The fair will remain open for public from 10am to 8pm till February 14.
Int’l tourism fair in
Dhaka from Mar 11
Business Desk
The three-day international tourism fair Dhaka Travel Mart 2010 will begin at Winter Garden of Dhaka Sheraton Hotel on March 11.
The Bangladesh Monitor, premier travel & tourism publication of the country, will be hosting the seventh edition of the international tourism fair. Triune Exhibition and Event Management Services has been entrusted with the event management, said a news release.
Organisations from different countries and host Bangladesh will be taking part in the fair. The participating organisations include national carriers, private sector airlines, national tourism organisations, hotels and resorts, tour operators and travel agents, travel product distributors and entertainment and recreation centres will be among others to participate.
On the side line a roundtable conference will be held on March 12 on the ‘Present scenario of Bangladesh tourism and the course of action to be undertaken by the public and private sectors.’
Visitors will be able to go around the fair from 10:00am to 8:00pm on all the three days paying an entry fee of Tk 20. Travel trade partners will be able to hold one to one parleys from 10:00am to 12:00pm. A Raffle draw or the entry coupons will be held on the concluding day on March 13, at 7:30pm at Dhaka Sheraton Hotel. Prizes will include airline tickets to various destinations and other exciting tour packages.
Early Bird registration up to February 15, 2010 is $1,000 while late registration up to February 28 is $1,200.
Interested companies have been requested to contact DTM Secretariat at City Heart (9th Floor, 67, Naya Paltan, Dhaka, Tel: 9334963, 9330676.
Euro climbs against dollar
Agence France-Presse . London
The European single currency breached 1.37 dollars on Tuesday on hopes that eurozone debt woes may ease, dealers said.
In morning London trade, the euro rose to 1.3727 dollars compared with 1.3648 dollars late in New York on Monday.
The dollar rose to 89.71 yen from 89.28 late Monday.
Reports that the debt and deficit problems of Greece, Spain and Portugal — all of which belong to the 16-nation eurozone — will be be high on the agenda at a key EU meeting on Thursday gave the euro a lift, traders said.
Meanwhile European Central Bank president Jean-Claude Trichet will leave a central bankers’ meeting in Sydney early to attend the informal European Union summit in Brussels, an ECB spokesman told AFP on Tuesday.
‘Speculators have gained a little bit of confidence that the Greece debt situation could take a turn this week after ECB President Trichet cut short a trip to Australia,’ said analyst Joshua Raymond at financial spread-betting firm City Index.
‘Trichet has not always attended these meetings and so the market is taking his late change in schedule as an indicator that the ECB may be looking to work with the EU on a solution to Greece’s debt problems.’
The euro has been struck by worries that the debt-ridden countries Portugal, Ireland, Italy, Greece and Spain — collectively referred to as the PIIGS by some analysts — may be unable to restore stability to their public finances.
Last Friday the euro tumbled to 1.3586 dollars — which was the lowest level since May 20, 2009.
Forex.com analyst Jane Foley said a ‘bail-out at this point would contradict the rhetoric from ECB officials to date.’
The Financial Times newspaper meanwhile reported on Tuesday that traders and hedge funds have placed almost 8.0 billion dollars (5.9 billion euros) on betting that the euro could fall further because of the eurozone debt crisis.
The FT newspaper, citing figures from the Chicago Mercantile Exchange, said investors were losing confidence in the eurozone’s ability to contain the unfolding crisis.
Oil below $72 in Asian trade
Agence France-Presse . Singapore
Oil was lower in Asian trade Tuesday after slight gains overnight, with regional stocks under pressure and sentiment weighed down by weak US demand and debt woes in the eurozone.
New York’s main futures contract, light sweet crude for delivery in March, was down seven cents to $71.82 a barrel, while Brent North Sea crude for March dipped 12 cents to $69.99 a barrel.
Oil recovered slightly on Monday after a massive sell-down last week triggered by weak US jobs data and debt problems in Europe, but analysts said the rebound was unlikely to be sustained.
‘Key Asian stock markets are lower and the outlook in Europe remains muddled by investor concerns over the ability of Greece, Spain and Portugal to handle their debts,’ said Victor Shum, an analyst with global energy consultancy Purvin and Gertz in Singapore.
‘These concerns on top of the ongoing weak demand in the United States will keep pressure on oil prices.
Eurozone finance chiefs had sought to reassure their counterparts in the Group of Seven industrialised countries on Greece’s deepening debt troubles during a weekend meeting in Canada.
CORPORATE DISCLOSURES
Standard Bank
The bank has informed that it has opened ‘Standard Exchange Company (UK) Ltd’ a subsidiary company 100 per cent owned by the bank recently in London, UK. The bank upon obtaining approval from Bangladesh Bank, has also obtained licence from concern authorities of the USA to open another subsidiary company in New York in the name and style ‘Standard Co (USA) Inc’ doing business as ‘Standard Express’ (International Money transmitter) 100 per cent owned by Standard Bank Ltd.
Jamuna Bank
The bank has informed that it has recently obtained Bangladesh Bank permission to open two 100 per cent owned subsidiary exchange houses of the bank in UK (branches are in London, Manchester and Birmingham) and Malaysia (branches are in Kuala Lumpur and Penang) in the name and style ‘Jamuna Exchange Company (UK) Limited (proposed)’ and ‘Jamuna Exchange Co SdnBhd (proposed)’ respectively subject to regulatory compliance of regulatory and monetary authorities of UK and Malaysia.
Grameenphone
As per un-audited quarterly accounts for the 4th quarter ended on December 31, 2009 (October to December), the company has reported net profit after tax of Tk 8,444.36 million with basic EPS of Tk 6.44 as against Tk 2,603.78 million and Tk 2.14 for the same period of the previous year.
German exports down most
in 60 years
Agence France-Presse . Frankfurt
China overtook Germany last year to become the world’s leading exporter as German trade suffered its sharpest slump since 1950, figures from Germany’s national statistics office showed on Tuesday.
According to information of the Chinese Ministry of Commerce, Chinese exports amounted to $1,201.7 billion, while German exports totalled $1,121.3 billion last year, the Destatis office said.
The total value of 2009 German exports came to 803.2 billion euros, a drop of 18.4 per cent, while imports fell by 17.2 per cent to 667.1 billion euros compared with 2008, the Destatis office said in a statement.
‘This was the highest decline recorded in foreign trade in relation to both imports and exports since 1950,’ the statement said.
Europe’s largest economy also reported, however, that its exports were 3.4 per cent higher in December compared to December 2008 — the first year-on-year gain since October 2008 and a key indication that a recovery is underway.
Imports fell by 6.5 per cent over the same period.
Compared with November 2009, exports were 3.0 per cent higher and imports gained 4.5 per cent, further signs of a pick up in global trade that should help Germany pull out of its worst recession since World War II.
Germany posted a trade surplus of 136.1 billion euros for 2009, though that was down from the 178.3 billion euros recorded in 2008.
The economy shrank by five per cent in 2009 but as consumption and exports slowly recover, the government has forecast growth of 1.4 per cent this year.
Germany benefits in particular from EU trade, which accounted for 62.7 per cent of its exports last year, providing 503.5 billion euros in revenues.
‘At least there is one reliable source of growth,’ ING senior economist Carsten Brzeski said.
‘Since March last year, German exports have increased by more than 10 per cent.’
He noted however that the latest German data releases indicate the recovery lost steam in the fourth quarter of 2009 but stressed that the overall picture was better than it seemed.
Inventory building would continue to underpin economic activity and trade should get a boost from the euro’s fall against the dollar owing to fears generated by the Greek debt crisis.
The weaker euro was ‘bound to be a boon to European exporters,’ said Howard Archer, chief economist for IHS Global Insight, a research consultancy in London.
Brzeski concluded that ‘the road might be bumpy but it is the road to recovery and not a dead-end street.’
India’s software exports
face protectionism
Agence France-Presse . Mumbai
India’s flagship software and services exports industry is facing rising protectionist sentiment in key markets, officials of a trade body warned on Tuesday.
‘The industry is alive and kicking after the global crisis,’ said Pramod Bhasin, chairman of the National Association of Software and Services Companies.
‘But protectionism, sustained unemployment’ in developed nations ‘will be huge continuing hurdles to deal with,’ he added.
Nasscom last week forecast India’s software and services exports will post double-digit export revenue growth of 13 to 15 per cent to hit up to $57 billion in the year to March 2011.
The extent of the downturn in the United States — which is the main market for India’s software giants — is still unclear, Bhasin said at the start of a three- day summit hosted by the outsourcing body in financial capital Mumbai.
But with unemployment in the United States running at just below 10 per cent, there are calls for protectionist action to protect jobs, he added.
India’s outsourcers earn 90 per cent of their revenue from exports — mainly to the United States and Europe.
India’s software exports growth projected for next year is still far below the blistering 28 per cent export revenue rise clocked in the financial year 2006-07.
Indian software companies, whose breakneck growth has been an important driver of the country’s economic modernisation, were hit by the global slump as customers put many projects on hold.
The sector accounts for 25 per cent of India’s overall exports.
Strong overseas sales put
fizz in Coca-Cola’s Q4
Associated Press . Atlanta
Coca-Cola Co’s fourth-quarter profit climbed as the world’s largest drink maker sold 5 per cent more beverages worldwide.
The company said Tuesday that its unit case volume rose sharply in emerging markets like China and India, and also saw solid growth in Latin America.
Shares rose 71 cents to $53.36 in premarket trading.
The only region to report a decline was North America, where case volume fell 1 per cent, a sign that those consumers are still wary about their spending. North America makes up about one-fourth of the company’s sales.
Many US have clamped down on their purchases amid the recession, and beverages are no exception. Consumers in North America are either cutting their soft drink purchases or switching to healthier juices and teas, which has led Coca-Cola to concentrate more on expanding in emerging markets.
Coca-Cola, whose brands include Sprite and Diet Coke, reported its fourth-quarter earnings rose to $1.54 billion, or 66 cents per share, even with the expectations of analysts polled by Thomson Reuters. These estimates typically remove one-time items.
Revenue for the three months ended Dec. 31 increased 5 per cent to $7.51 billion from $7.13 billion, beating Wall Street’s $7.21 billion estimate. The company, based in Atlanta, said its results were affected by six fewer selling days in the period.
While North American unit volume dipped, Coca-Cola Zero posted double-digit unit case volume growth in the region.
Full-year profit increased 17 per cent to $6.82 billion, or $2.93 per share, compared with $5.81 billion, or $2.49 per share, in the prior year.
Revenue for the year dipped slightly to $31 billion from $31.94 billion.
Doha deal still possible
in 2010: WTO chief
Reuters/Bdnews24.com . Canberra
A successful conclusion to the Doha round of global trade talks is still possible in 2010, but would need an injection of political energy, World Trade Organisation head Pascal Lamy said on Tuesday.
A summit of leaders from the Group of 20 major economies in Canada in June would be a key test of political will for the Doha round of negotiations, he said.
‘At the technical level, as an expert in trade negotiations with a bit of experience, I can tell you it certainly is do-able,’ Lamy told reporters in Canberra, where he was holding talks with Australia’s staunchly free-trade government.
‘What needs to happen is to identify among the few remaining knots, which are the main ones which will lead to a breakthrough,’ he said.
The Doha round of trade talks was launched in the Qatari capital in late 2001 to free up world trade and help poor countries prosper by opening up markets and cutting tariffs and subsidies in rich countries.
But the 153-nation talks collapsed in 2008 over a dispute between the United States and Europe, and India and China, on protection for farmers in rich economies and shields for industrial goods coming from developing nations.
Leaders of the G20 group last year set a goal to wrap up the Doha round in 2010. Senior officials will carry out a stocktake exercise in late March to see if an outline agreement is possible this year.
Trade ministers met in Davos last month and were gloomy about chances of a conclusion, with many blaming the United States for inaction as President Barack Obama focuses more on domestic politics and looming mid-term elections.
UK retail sales rise by 1.2pc
Associated Press . London
Britain’s struggling economy showed more lacklustre indicators Tuesday, with imports rising faster than exports in December despite the falling value of its currency and retailers reporting a slow start to the year.
The Office for National Statistics said Britain’s trade deficit rose to 3.3 billion pounds ($5.1b) in December from 2.9 billion pounds in November. Excluding oil, exports were up 1 per cent in December compared to November and imports were 4.5 per cent higher.
That was a disappointment, given that a weaker pound should have make exports more competitive, and imports more expensive. Britain’s economy barely crawled out of recession in the fourth quarter of last year, showing 0.1 per cent growth.
‘It looks unlikely that net trade is in a strong enough position to offset the looming weakness in the public and consumer sectors,’ said Vicky Redwood, economist at Capital Economics.
Retailers also reported a disappointingly slow start to the year as sales posted their small year-on-year gain in 15 years.
CORPORATE NEWS
Quartel Infotech launches
4 new Maximus sets
Business Desk
Mobile company Quartel Infotech Limited has recently introduced four new MAXIMUS mobile sets M26, M35, M37 and M73.
Managing director of the company Ahsan Ali Khan and general manager Razib Hasan, among others, were present at the launching ceremony of the mobile sets at a city hotel in Dhaka on Monday, said a news release.
M26 model handset comes with instant SMS facility, five flash lights, FM radio and memory card extension facility with Qwerty keypad. M35 and M37 model handsets support real MP4 and other facilities including mobile tracker, GPRSM service. M73 handset has analogue TV feature along with internet facility.
StanChart supports
Kidney Foundation
Business Desk
Standard Chartered Bank, Bangladesh has provided financial support to Kidney Foundation.
Chief financial officer of the bank Imtiaz Ibne Sattar handed over a sponsorship cheque to Harun-Ur-Rashid, president of Kidney Foundation, in Dhaka recently, said a news release.
Under the sponsorship, Standard Chartered Bank will support dialysis of underprivileged patients for a year.
Motorola launches 3 new
mobile handsets
Business Desk
Motorola Inc recently launched three new mobile phone handsets—Motoyuva WX180, Motoyuva WX 288 and Motoyuva WX 395— in Bangladesh, said a news release.
‘We are delighted to offer our new range of mobile phones to the consumers in Bangladesh,’ said Rajan Chawla, head of sales and operations of emerging markets of Motorola Mobile Devices.
The three new Motorola mobile phones are available at retail stores in Bangladesh.
For more information and a full list of product specifications and features, the company has requested to visit www.motorola.com.
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