Robi invests $13m to open country’s first private tier-IV data centre

Telecom operator Robi Axiata has launched Bangladesh’s first commercial Tier-IV data centre in a move to expand its portfolio and cater to the increasing need for data storage driven by surging internet usage amid digitalisation of services. The subsidiary of Axiata Group, which operates in 10 countries, spent $13 million to establish the data centre at the Sheikh Hasina Software Technology Park in Jashore. Robi is also pledging an “unparalleled uptime guarantee of 99.995 percent”, coupled with security measures of the highest grade, such as biometric access control and round-the-clock surveillance, safeguarding against physical and cyber threats. Private capital is increasingly being directed towards the establishment of data centres in Bangladesh to meet the escalating need for storing, processing and managing data. Domestic investors are actively involved in establishing these centres while foreign investment is also flowing into the sector.

Source: https://www.thedailystar.net/business/economy/news/robi-invests-13m-open-countrys-first-private-tier-iv-data-centre-3557276

BO accounts rise in last 6 months for expected gains from post-polls market

Investors opened a total of 46,788 new BO (beneficiary owner’s) accounts in the six months through February, higher than in the previous six months, for various reasons, including optimism surrounding post-election stock market. In the previous six months to August last year, 33,019 new accounts were added to the system of the Central Depository Bangladesh Limited (CDBL). Many investors opened separate or link accounts expecting a turnaround of the market after the national polls, said market operators. The presumption came to be true weeks after the election when the capital market experienced a steep rise both in turnover and broad index, owing to increased investor participation. The highest annual tax rebate on investments in listed securities was reduced to Tk 1 million in FY23 from Tk 1.5 million the year before. So, the maximum investment will be Tk 6.67 million a year, against which investor will get 15 per cent or Tk 1 million tax rebate.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/bo-accounts-rise-in-last-6-months-for-expected-gains-from-post-polls-market-1709401688

Mr. Mahbubul Alam promoted to Director of BB

Mr. Mahbubul Alam has been promoted to Director of Bangladesh Bank (BB) recently. He is now attached to the Human Resources Department at the BB head office. Earlier, he had been working as an additional director at the Department of Foreign Exchange Inspection since 2018. Born in a Muslim family at Shibchar Upazila of Madaripur district, Mr Alam obtained Bachelor’s degree and Master’s degree in accounting from Dhaka University. He joined the Bangladesh Bank in 1999 as an assistant director. During his long career, he also served in the Financial Integrity and Customer Services Department, Bangladesh Financial Intelligence Unit.

Source: https://www.tbsnews.net/economy/rmg/bangladesh-gets-another-leed-certified-green-factory-791994