Monthly Archives: May 2012

Sahara Group set to become Bangladesh cricket sponsor

India’s business giant Sahara Group is set to become the new sponsor of the Bangladesh cricket team after offering $9.4 million over four years in a tender process that ended on Wednesday, officials said.

“We are delighted to announce that Sahara has appeared the highest bidder to become new sponsor of our national team,” Bangladesh Cricket Board (BCB) president AHM Mustafa Kamal told reporters.

“They have offered $9.4 million for four years. We will soon formally announce them as our sponsor,” said Kamal, without giving any further details.

Officials said Sahara offered more than double their nearest rivals Robi Axiata Ltd – a joint venture between Malaysia mobile phone operator Axiata Group and Japan’s leading mobile phone service provider NTT Docomo Inc – which offered $4.28 million.

Bangladesh’s top mobile phone operator Grameenphone, the team’s previous sponsor and the only other bidder, offered $3.2 million, said the officials.

Grameenphone paid the BCB 100 million Bangladesh takas ($1.22 million) for a two-year deal, which expired in December 2011.

Sahara, which also sponsors India’s national cricket team, recently entered the Bangladesh market through its subsidiary Sahara Matribhumi Unnayan Corporation Ltd.

The company said it has a primary investment plan of about $120 million for a township-housing scheme near the capital Dhaka.

Sahara, which sponsors India’s men’s and women’s hockey teams, was co-sponsor of the 2010 Commonwealth Games held in Delhi. ($1 = 81.8750 Bangladesh takas)

Founder fearful about future of Bangladesh’s Nobel-winning micrelender

Prof Muhammad Yunus, founder of Bangladesh’s Nobel-winning microcredit organisation — Grameen Bank (GB) — yesterday urged stakeholders and government of the country not to take any step to change the legal structure of the GB. In an open letter to … read more

Qatar keen to fund Padma bridge

Qatar is keen to invest in Bangladesh’s major projects, including Padma bridge construction, a power project, airport upgrade, river dredging and a manpower training institute. A 10-member delegation led by Assistant Minister for International Cooperation Affairs of Qatar Sheikh Ahmed … read more

Sahara inks deal to build Notun Dhaka in Bangladesh

Sahara India Pariwar, a major business conglomerate in India has on Friday announced its entry into the housing & infrastructure sector of Bangladesh. The group’s, newly formed Bangladesh based company ‘Sahara Matribhumi Unnayan Corporation Limited’ has signed a Memorandum of … read more

Tough times ahead for Bangladesh banks:liquidity shortage!!

There is a liquidity shortage following a huge capital outflow that resulted in the stock market crash early last year. Bangladesh’s banking sector is undergoing a challenging phase due to a liquidity shortage, following a massive capital outflow that resulted … read more

Bangladesh ‘keen to join gas pipeline project’

Bangladesh has approached the Asian Development Bank to join a four-nation gas pipeline project being funded by the bank. India and Pakistan have signed a gas sale purchase agreement with Turkmenistan last week. An official source said Bangladesh has written … read more

US slates killings, torture by lawmen in Bangladesh

The US government yesterday denounced the Bangladesh government over the latter’s “most significant” human rights problems, including killing and torture by security forces and their abuses that are responsible for disappearances and custodial deaths. “An increasingly politicised judiciary exacerbated problems … read more

Bangladesh seeks C-130 deal

Bangladesh is asking for the refurbishment, overhaul and modification of four C-130E aircraft through the Foreign Military Sale program. The U.S. Defense Security Cooperation Agency said the contract sought by Bangladesh includes spare parts, equipment and training services and is … read more

Build Bangladesh as dreamt by Nazrul, says Hasina

Prime Minister Sheikh Hasina yesterday urged all Bangladeshis to work for building such a Bangladesh where every citizen will enjoy equal and basic rights breaking the vicious cycle of poverty as dreamt by National Poet Kazi Nazrul Islam and Bangabandhu … read more

Bangladesh B’cast & Cable TV Services Severely Disrupted by Interference

Bangladesh’s broadcasting and cable and satellite TV operators, in co-ordination with the international satellite communications industry, have called for the Government of Bangladesh to take rapid action to halt the disruption of TV services suffered by millions of Bangladeshis. The … read more

India to enable land exchange with Bangladesh

An amendment to the Constitution is being drafted to enable the exchange of 111 Indian enclaves in Bangladesh and 51 Bangladeshi enclaves in the Indian territory, External Affairs Minister S M Krishna has said. “Government is committed to the earliest … read more