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10 individuals, organisations got 'FBCCI Business Excellence Award 2023'

A total of 10 individuals and organisations received the 'FBCCI Business Excellence Award 2023' for their outstanding contribution to the national economy. Industries Minister Nurul Majid Mahmud Humayun handed over the awards as the chief guest at a function at Bangabandhu International Conference Center (BICC) in the city yesterday, March 13. Prime Minister's Private Industry and Investment Adviser Salman F Rahman and Commerce Minister Tipu Munshi attended the function as special guests. Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) President Md Jashim Uddin presided over the award giving function. FBCCI has honoured the businessmen at the last day of the three-day 'Bangladesh Business Summit 2023'. Managing Director of Beximco Pharma Nazmul Hasan, MP, and Chairman of BSRM Alihussain Akberali FCA were honoured in Business Leadership category while Managing Director of Olympic Mubarak Ali in Contribution to Economy (Industry) category. Managing Director of Square Food and Beverage Ltd Anjan Chowdhury received the award under Contribution to Economy (Agriculture and Agro Business) category while National Life Insurance honoured under Contribution to Economy (Service) category. Managing Director and CEO of Energypac Power Generation Ltd Humayun Rashid received the award under the Contribution to Economy (Trade) category while Managing Director of Creation Private Limited Md. Rashedul Karim Munna and Managing Director of Tampaco Foils Ltd Safius Sami Alamgir in SME category. Managing Partner of KARIGAR Tania Wahab received the award under Best Women Entrepreneur category while Managing Director of Bashundhara Paper Mills Ltd Safwan Sobhan in Youth Entrepreneur category. Besides, President of the International Chamber of Commerce, Bangladesh (ICCB) Mahbubur Rahman and Heritage and Crafts Researcher Maleka Khan received Jury Special award while singer Sabina Yasmin and Prime Minister's Private Industry and Investment Adviser Salman F Rahman received FBCCI Lifetime Achievement Award. Chairman and Managing director of Protik Ceramics Limited S. M. Faruqi Hasan received the FBCCI Special Recognition Award.

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GP, BL pay 152 cr taka to NBR as 4G VAT

Telecom service provider Grameenphone and Banglalink have paid Tk 152 crore as Value Added Tax (VAT) on their spectrum acquisition fee for 4G. Bangladesh Telecommunication Regulatory Commission (BTRC) deposited the amount to the Large Taxpayer Unit (LTU) of the National Board of Revenue (NBR), said a NBR official. But, Robi did not clear the VAT worth Tk 17 crore. Reports BSS. ‘Last week, Grameenphone and Banglalink paid Tk 152 crore to BTRC. This amount was handed over by a cheque to the LTU on Monday,’ LTU commissioner Md Matiur Rahman said. He said the mobile phone operators had to pay VAT before introducing 4G service, but they did not do so. The LTU filed cases against them, he said. Grameen and Banglalink paid a total of Tk 151 crore, the first installment of VAT on their spectrum acquisition fee for 4G on Monday, he added. The LTU commissioner said if Robi fails to pay TK 17 crore VAT by next week, its bank account will be frozen. BTRC handed over 4G/LTE license on February 19 to mobile phone operators which started offering the fasted internet services on the same day. On February 13 last, the government collected Taka 5,268 crore by selling 15.6 Megahertz (MHz) of spectrum to Grameenphone and Banglalink through auction as well as conversion fee for technology neutrality. Banglalink acquired a total of 10.6 MHz spectrum -- 5 MHz in 2100 band and 5.6 MHz in 1800 band with Taka 2558 crore while Grameenphone took 5 MHz only in 1800 band at a price of Taka 1,284 crore. Besides, Taka 850 crore came as spectrum conversion fee for technology neutrality. AH

Finland takes stake in Nokia to boost national ownership

Telecom network major Nokia got a boost from the Finnish government, which has bought a 3.3 per cent stake in the Helsinki-based tech maker. UNB reports quoting the Indian Express. Finland’s government investment arm Solidium has acquired a 3.3 percent stake in Nokia at a cost of about 844 million euros (1.04 billion dollars) to strengthen Finnish influence over the telecom network gear maker. ‘We believe that this will be a good investment. One must remember that Nokia is Finland’s largest company and its Finnish ownership has been rather thin,’ Solidium CEO Antti Makinen told Reuters. He said Solidium was not seeking a seat on Nokia’s board at an upcoming shareholder meeting but that it could look at that option going forward. He noted that Solidium has this year taken a more active role in the boardrooms of the companies it owns stakes in. Nokia ruled the global mobile phone market a decade ago and was a dominant economic engine for the country, providing 4 percent of its GDP and 20 percent of its exports. The collapse of Nokia’s former phone business was a major reason for Finland’s decade of stagnation from which it is only just recovering. According to Nokia’s webpage, three Finnish pension funds at this point own less than 3 percent of Nokia. Nokia is nowadays focused on the telecom network industry where it competes with Sweden’s Ericsson and China’s Huawei. ‘The appealing factors for us are the company’s strong market position combined with broad technological expertise,’ Makinen said. Solidium’s mandate is to own significant Finnish companies with an idea to keep them ‘more or less Finnish’, Makinen told Reuters in an interview last month. Solidium manages minority holdings in 13 listed Finnish companies which mainly originate from an era of state-led industrialization. Solidium trimmed its stake in Telia and Sampo in the past weeks to finance the investment in Nokia. AH

Bezos tops Forbes world’s rich list

Amazon chief Jeff Bezos is now the world's richest person, having snatched the top spot from Microsoft founder Bill Gates who slips to second place, according to Forbes magazine's annual billionaires list published last Tuesday. Reports AFP. Thanks to a 59-percent rise in Amazon shares over the past 12 months, Bezos' fortune shot up to 120 billion dollars, way ahead of the 90 billion dollars Forbes listed for Gates. Legendary investor Warren Buffett held on to his number three ranking, followed by French industrialist Bernard Arnault, who jumped to fourth- richest person from his previous number 11 spot, mostly thanks to euro strength against the dollar, the magazine said. Facebook's Mark Zuckerberg was fifth on the list. Two Chinese billionaires rose to be among the 20 richest people in the world: Ma Huateng, CEO of Chinese internet giant Tencent who is the richest person in Asia and number 17 in the world, and Alibaba founder Jack Ma. There are now a record 2,208 billionaires in the world, Forbes counted, and their combined worth is 9.1 trillion dollars, up 18 percent from last year. The US has the most billionaires (585), followed by mainland China (373). Forbes' list contains 259 newcomers, including the first-ever crypto currency billionaires. Falling fortunes or political headwinds, meanwhile, pushed 121 people out of the illustrious list, including all 10 Saudi Arabians, the magazine said. AH

Bengal Plastic gets the first prize

The 13th International Plastic Fair-2018 was held at the Bangabandhu International Conference Center in the capital. Of the participating local organizations in the fair Bengal Plastic Limited has achieved the first prize in this year. The award was declared on the concluding ceremony of four day long fair at the Bangabandhu International Conference Center on Saturday. Director of the firm Firoz Alam Tipu received the first prize in the local category on behalf of Bengal Group. Nearly five hundred organizations from 16 countries took part in the plastic fair in 15 categories. In the concluding ceremony, Bnagladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) president Jasim Uddin said, it needs a full-fledged institution to take the plastic industry ahead including driving out the policy related barriers. Prime Minister’s economic affairs Advisor Mashiur Rahman was present on the occasion. He said, government is performing its duty to enrich the country economically. Director of Bengal Plastic Limited and Managing Director of Bengal Poly and Paper Sack Limited Firoz Alam said, this award not only Bengal rather has represented Bangladesh in the world market. We will come to the world market with more new commodities which will be an example for the other plastic producing firms. He also mentioned that this award will encourage for expansion of export and that will contribute to the national economy. AH