AFP, Tokyo : The Japanese owner of 7-Eleven said Friday it had rejected a takeover bid from Canadian retail giant Alimentation Couche-Tard, saying the proposal “grossly undervalues” the company.The proposed purchase of Seven & i Holdings would be the biggest ever foreign takeover of a Japanese firm and combine 7-Eleven, Circle K and other brands across Asia, North America and Europe.As the world’s biggest convenience store chain, 7-Eleven operates more than 85,000 outlets globally.Although the brand began in the United...
AFP, Mexico City : Long marginalized by the banking industry, Mexico’s neighborhood tortilla producers are cautiously embracing financial technology, in a country where cash is still king for many.The National Tortilla Council and technology firm Finsus have developed a mobile application that allows vendors of the staple food to charge customers using cards, QR codes or a cellphone number.“It’s revolutionizing the industry,” said the organization’s president, Homero Lopez Garcia, whose ambitious goal is for 90 percent of tortilla makers to...
Business Report : Social Islami Bank Ltd (SIBL) Managing Director Zafar Alam and Deputy Managing Directors Habibur Rahman and Khorshed Alam have resigned on Wednesday following the central bank’s board reformation of the bank.Zafar Alam confirmed the resignations to The Daily Star. “I resigned on Wednesday and sent the letter to the new board of directors.” The three top officials are assumed to be loyal to Chattogram-based conglomerate S Alam Group owner Mohammad Saiful Alam.Zafar Alam’s three-year tenure was supposed...
Business Report : National Bank Limited officially launched the ‘Nischinto Oboshor’ at its head office on Thursday. Touhidul Alam Khan, the bank’s Managing Director and CEO, was the chief guest at the event. Other senior bank officials, including Deputy Managing Directors Sheikh Akhter Uddin Ahmed, Imran Ahmed, and Md. Abdul Matin was also present. Additionally, some customers who had taken advantage of the ‘Nischinto Oboshor’ product received their deposit receipts....
Business Report :’ Local exporters have requested the government to rationalize cargo fares and allocate more cargo space for exporting...
Business Report : The first meeting of Global Islami Bank’s new board of directors was held recently at the bank’s...
Business Report : In response to the devastating floods that have affected parts of the country, the Board of Directors...
Business Report : First Meeting of new board of directors of First Security Islami Bank PLC held at the bank’s head office on Wednesday. Newly made chairman of the bank Mohammad Abdul Mannan presides over the meeting while independent directors Md. Azizur Rahman, Md. Abdul Quddus, Md. Saiful Alam, PhD., Md. Raghib Ahsan, Managing Director Syed Waseque Md. Ali and company secretary of the bank Oli Kamal, were present, said a press release. In the meeting chairman said that First...
Business Report : Bangladesh’s Summit Group Chairman Muhammed Aziz Khan has been named one of the richest people in Singapore....
Business Report : Linde Bangladesh shares soared around 19% on Thursday as they declared a 4100% cash dividend as interim yesterday (4 September), which is the highest ever in the capital market history. Within the first half an hour of Thursday’s trading session, the company’s shares jumped by 18.80% to reach Tk1,560.10 as there was no circuit breaker limit after declaring dividend.It also topped the turnover table at the Dhaka Stock Exchange. According to the multinational company, they secured capital...
Business Report : Newly appointed chairman of Sonali Bank PLC Mohammad Muslim Chowdhury joined at board of directors meeting held...