Tag Archives: Company

Govt to allow single-person company


MNA National Desk: The government is set to amend the Companies Act-1994 to allow formation of a company by single person. A new section, ‘One-Person Company’, will be incorporated with the existing law in this regard, according to a press statement issued on Sunday by Ministry of Law, Justice & Parliamentary Affairs. To this effect, a consultation meeting with stakeholders was held at the Ministry of Law, Justice and Parliamentary Affairs on Sunday. The meeting was organised by the Legislative Research and Reform Project and the law will be implemented by the Legislative and Parliamentary Affairs Department. The objective of ...

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Titas stimulated proposal for 95% gas price hike


MNA Business Desk: Titas Gas Transmission and Distribution Company stimulated a proposal pursuing an average 95% as gas price hike for its users. The company also intended to increase its revenue collection by more than double. Titas Gas have 62% market share with about 1.9 million consumers generally in Dhaka and Mymensingh areas. It moved the proposal to the Bangladesh Energy Regulatory Commission (BERC), which the watchdog disclosed in its website recently. The annual revenue collection of Titas Gas will go up to Tk. 21,379.89 crore from the existing Tk. 10,959.12 crore though the price hike. Though Titas Gas and ...

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Last Japanese company closing production of VCRs


MNA Technology Desk: In an age of Netflix and YouTube, the last Japanese company to manufacture VCRs is closing production of the tape-recording device more than four decades after they were first made available. Funai Electric, a Japanese consumer electronics company, will follow the rest of the world in giving up on the format by the end of the month, according to Japanese newspaper. The company has been vending VCRs since 1983 and at its highest sold 15 million a year, but sales have since decreased to around 750,000. Funai, which had been making them in China as a white-label ...

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Samsung will acquire cloud-computing company Joyent


MNA Technology Desk: Samsung Electronics declared that it will acquire cloud-computing company Joyent. In a declaration, the Korean tech giant informed that the transaction will allow it to grow its cloud-based services for its smartphones and Internet-connected devices. Joyent will become part of Samsung’s mobile network unit, but remain to operate as a standalone company after the deal is settled. Key members of its tech team, including CEO Scott Hammond, CTO Bryan Cantrill, and VP of product, Bill Fine, will work on Samsung’s cloud projects. This is the third U.S. tech company that Samsung has bought in the last couple ...

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