Jamuna Bank Ltd arranged a get-together for its officials in Rajshahi Zone at Hotel Naz Garden in Bogra recently.

Md Belal Hossain, chairman of the Bank, attended the function as chief guest, said a press release.

Al-Haj Nur Moha-mmed, chairman of the Jamuna Bank foundation, was also present as a special guest.

Md Motior Rahman, managing director of the Bank, presided over the function where Md Abrar Hossain Khan, the zonal head of the Bank’s Rajshahi zone, was also present.

Source: The Daily Sun/ Bangladesh/ 13th Dec 2011

Md Abdul Jalil, MP, founder chairman of Mercantile Bank Limited, is seen inaugurating an exchange house in the UK recently.

Mercantile Exchange House (UK) Limited, a fully-owned subsidiary company of Mercantile Bank Limited, recently commenced its operation in Birmingham, UK.

Founder Chairman of the Bank Md Abdul Jalil, MP, inaugurated the exchange house as the chief guest, said a press release.

M Amanullah, director of the bank, Dr Muhammad Shahidullah, a distinguished educationist, Dr Tozammel Tony Huq, MBE, ex-ambassador of Bangladesh to France, Faisal Ahmed, assistant high commissioner of Birmingham spoke as the guests of honor.

A K M Shahidul Haque, managing director and CEO, M A Yousuf Khan, deputy managing director of the Bank and distinguished Bangladeshi nationals were also present on the occasion.

Md Abdul Jalil MP said Mercantile Exchange House will ensure faster, easier and safer remittance services to the Bangladeshi expatriates living and working in the UK.

The Bank has been endeavoring to emerge as a leading financial institute at home and abroad by introducing various innovative and versatile products and services, he added.

Source: The Daily Sun/ Bangladesh/ 13th Dec 2011

Md Nurun Newaz Salim, chairman of NCC Bank Ltd, is seen inaugurating a branch in Dinajpur on Sunday.

National Credit and Commerce Bank Limited (NCCL) has opened 85th branch in Dinajpur on Sunday.

Md Nurun Newaz Salim, chairman of the bank formally inaugurated the branch as chief guest while Mohammed Nurul Amin, managing director and CEO of the Bank presided over.

Khairul Alam Chaklader, former vice chairman of the Bank attended the function as special guest. TM Faruque Chowdhury, deputy managing director of the Bank delivered vote of thanks.

ATM Afsar, a senior banker, AK Md Siddique and Moh- abbat Khan, deputy managing directors and senior executives of the Bank, local elites and businessmen were present on the occasion.

Source: The Daily Sun/ Bangladesh/ 13th Dec 2011

India's industrial output fell in October for the first time in more than two years as capital goods investment slumped, ramping up pressure on the central bank to ease monetary or liquidity conditions, possibly as soon as Friday.

Production at factories, mines and utilities plunged 5.1 per cent from a year earlier, far worse than expected, another blow for the embattled government of Prime Minister Manmohan Singh that is struggling to combat a slide in the economy.

"It is a lot worse than we expected. The nearly two years of monetary tightening is clearly being felt," said Tim Condon, head of Asian economic research at ING in Singapore.

"While India may not be a manufacturing-driven economy, more data prints such as this would be a worrying sign. While we expect a status quo in terms of interest rates from the RBI (Reserve Bank of India) this week, the pressure is clearly building on them to start easing," he said.

Source: The Daily Sun/ Bangladesh/ 13th Dec 2011

The government will hold a tripartite portfolio review meeting with the Asian Development Bank (ADB) in March next year to review the progress of the ADB-assisted projects as well as to speed up their implementation.

The meeting will be held among the Economic Relations Division (ERD), the ADB and the concerned executing ministries and agencies, said a top official at the ERD.

The official said that there are 40 ongoing projects under the financial assistance of ADB amounting to around 5 billion US dollars, of which about 50 per cent still remains to be disbursed.

The previous tripartite portfolio review meeting was held September 18-19 in the capital between the representatives of the ERD, Planning Commission and ADB. —UNB

Source: The Daily Sun/ Bangladesh/ 13th Dec 2011