The New Nation - Internet Edition

UNB, Dhaka

The government has decided to set up two new urea fertilizer factories in the country in the wake of increasing demand in the agricultural sector.

One of the proposed factories, North-West Fertilizer Factory Limited will be set up in Sirajganj while the other, Shahjalal Fertilizer Factory Limited, will be set up to replace the Natural Gas Fertilizer Factory (NGFF) Limited in Fenchuganj.

The decision was taken at an inter-ministerial meeting held at the Industries Ministry today (Thursday) with Industries Adviser Geeteara Safiya Chowdhury in the chair.

The meeting hoped that two factories would be able to produce 11.20 lakh metric tons of fertilizer annually -- 5.60 lakh metric tones each.

It was informed that the Chinese government has already expressed its eagerness to finance the seting up of the North-West Fertilizer Factory in Sirajganj.

The meeting directed the ERD to setle within next one month the long pending Czech Republic offer relating to financing the establishment of Shahjalal Fertilizer Factory Limited in Fenchuganj.

It was decided that if the Czech government do not set up the fertilizer factory, the government, either with its own resources or through joint venture, would take immediate initiative set up the Shahjalal Fertilizer Factory Limited in Fenchuganj.

Industries secretary Dr M Nurul Amin, Planning Commission member Ehsanul Fatah, Energy and Mineral Resources secretary AMM Nasiruddin, director general (Monitoring Cell) of Finance Division Dr Chowdhury Saleh Ahmed, ERD additional secretary of ERD M Shaidul Haq, BCIC chairman Mokhlesur Rahman and Petrobangla chairman Sheikh Rashid Ahmed were, among others, present at the meeting.

Duch-Bangla Bank Limited has donated 100 Laptop Computers with scanners to the National Steering Commitee on Voter List & National ID Card Project for implementation of field level work of the project at a total cost of Tk. 87 lakh, says a press release. Bangladesh Army is assisting Election Commission for the implementation of a Pilot Project of voter registration and national ID card issuing programme of the Care-taker Government

Abul Hasnat Md. Rashidul Islam, Chairman of Dutch-Bangia Bank handed the Laptop Computers to General Moeen U Ahmed, Chief of Army Staff at a simple ceremony held at Army Head Quarters' Officers' Mess, Dhaka Cantonment, Dhaka on September 03, 2007.Dutch-Bangla Bank, as a part of corporate social responsibility has long been supporting various issues of social and nation building activities.

General Moeen U Ahmed while exchanging views at the handing over ceremony appreciated DBBL's support for the project

The ICT Associates Ltd, a subsidiary of local business conglomerate MKR Group, has introduced Megatech brand customised packed power back-up systems including IPS, Online UPS and Emergency Lift Operating System-ELOS in the fast-growing Bangladesh market, says a press release.

This was informed on Wednesday at a meet the press programme at the National Press Club in Dhaka.

Megatech Power Equipment (India) Pvt Ltd, an internationally-acclaimed customised packed power back-up systems manufacturer, has already signed an exclusive country partnership deal in this regard with The ICT Associates Ltd. As per the agreement, ICT Associates will exclusively distribute all Megatech brand IPS (ranging from 2 KVA to 100 KVA), UPS, Emergency Lift Operating System (ELOS) etc in the local market

Although we may have known earlier that 6 KVA or 10 KVA seems to be the jumbo size IPS, its time to think twice as the 100 KV A IPS is hiting the market with a bang. With its state of the art technology and competitive pricing.

The ICT Associates (a subsidiary of MKR Group) and Megatech Ltd. are also bring policies UPS and emergency lift operation system (ELOS).

As we are well aware of the existing power crisis of Bangladesh, the products are certainly amongst the most essential needs of the consumers at this moment and the equipments are particularly built and acclimatised to serve those needs.

Officials of the company said that Megatech, in association with ICT Associates, is going to be- the first brand in local market to offer upto 100 KVA IPS, Online UPS and Emergency Lift Operating System-ELOS.

The programme was atended, among others, bX Managing Director of ICT Associates Engr Md. Tazin Alam and Megatech Director VRK Nair. Senior vicepresident (sales operations) Md. Zohurul Islam was also present on the occasion.

Islami Bank Banladesh Limited opened three new branches recently.

Ganakbari Branch of Islami Bank Bangladesh Limited was inaugurated as its 181st Branch on Sunday, 02 September 2007 at Neyath Solim Plaza, Balivadra Bazar, Ganakbari, Savar. On the occasion a function was held where Prof. Abu Nasser Muhammad Abduz Zaher, Chairman, Board of Directors of the Bank and Mafizur Rahman, Chief Scientific Officer, Atomic Power Energy were present as Chief Guest and Special Guest respectively. Presided over by M. Fariduddin Ahmad, Executive President of the Bank the function was addressed among others by Md. Abul Bashar, Executive Vice President & Dhaka Central Zone, Hazi Muhammad Nur Uddin, renowned business man, Md. Sahidul Islam, veteran Advocate and Alhaj Md. Aminul Islam.

Damodya Branch

Damodya Branch of the Bank was inaugurated as it's 180th Branch on August 28, 2007 at Sheikh Ashraf Ali Complex, Damudya Bazar, Shariatpur. On the occasion a function was held where Md. Habibur Rahman Khan, Deputy Commissioner of Shariatpur was present as the Chief Guest and Rejaul Karim Raja Saiyal, Chairman, Shariatpur Municipality & Farah Sammi, Upazilla Nirbahi Officer were present as the Special Guests. Presided over by Principal Moulana Zainul Abedin, Vice Chairman, Board of Directors of Islami Bank Bangladesh Limited the function was addressed among others by Abu Taher Mohammad Saleh, Executive Vice President & Head of Dhaka South Zone, Abdur Rahman Bablu and Mukter Hossain, renowned businessmen.

Miarhat Branch

Miarhat Branch of the Bank was inaugurated as it's 179th Branch on August 26,2007 at Sundarban Welfare Association Building, Miarhat, Pirujpur. On the occasion a function was held where Md. Abdul Qauyam, Deputy Commissioner, Pirujpur District as the Chief Guest and Md. Ismail Hossain, Nessarabad Thana Nirbahi Officer as the Special Guest Presided over by Kazi Harin-ar-Rashed, Director of the Bank the function was addressed among others by Dr. Moulana A.S.M. Toriqul Islam, Member of Shariah Council and Associate Professor, Dept of Dawa & Islamic Studies, Islamic University, Kushtia. M. Fariduddin Ahmad, Executive President, A.B.M. Mufazzal Hossain, Senior Vice President & Head of Khulna Zone & Moulana Shah Md. Arf Billah Siddiki, Chota Pir Sahib, Sarsina.

Warid Telecom has offered the lowest day and night-time call tariff to any subscriber slashing down the rate to below Taka 1 for the first time in Bangladesh telecommunications market

Dubbed as "Zem Fun", the new super offer allows prepaid subscribers of Warid Telecom to talk to any operator at only 99 paisa per minute from 9AM to 5PM.

Besides, Warid has launched another offer to all prepaid as well as postpaid subscribers for best night-time call rate at 0.25 per minute to Warid and 0.99 per minute to other mobile operators.

In recent times, consumer demand and increased competition has driven the rates in the market to below Taka 1.50 / minute boundary, but Warid has again set a new standard with slashing the rates to under a Taka.

Besides Zem Fun, the earlier packages of Warid also are available consumers. Suiting their needs, Prepaid subscribers can choose either per-second pulse, five FnF or 24-hours flat low rate under three unique packages namely 'Zem 1 See', 'Zem FnF' and 'Zem 24 hrs' respectively. What's more unique is that any prepaid customer can switch between these packages easily through the Warid SIM Genie Menu available with every Warid SIM. This migration is absolutely free of charge with only 24 hours gap between switching from second migration onwards.

It is worth noting ever since Warid has commercially launched its services as the country's sixth mobile operator on May 10 this year, it has achieved over 1.5 million active subscribers till date and expanded its coverage to 51 districts of the country. Apart from building a state-of-the-art NGN network, Warid has continually set new standards in terms of tariff, coverage and customer service.

AFP, Geneva

Developing countries are enjoying their brightest economic spell since the early 1970s, but must join forces to guard against shifts in the global economy and financial turmoil, the UN's trade and development agency said yesterday.

The UN Conference on Trade and Development's annual report warned about the destabilising effect of speculative financial markets, and called for World Trade Organisation-style global arrangement to oversee exchange rates. "As exchange rates are crucial for international competitiveness and trade relations, exchange rate shifts should be managed in a multilateral framework along the lines of the way tariffs and subsidies are," UNCTAD Director General Supachai Panitchpakdi told journalists.

The report said that booming demand and high prices for commodities had helped to stimulate trade and growth in poorer nations, which are the primary suppliers of raw materials, without weighing down overall global growth.

During a "golden period" for the world economy, gross domestic pproduct per head in developing countries grew by almost 30 percent between 2003 and 2007, three times as fast as in G-7 group of industralised nations, it added. While emerging giants China and India set the pace for developing countries, poorer areas were also growing fast despite big income gaps with rich nations, UNCTAD said. "A highlight is that Africa is expected to continue to grow at around six to seven percent in 2007, while Latin America and western Asia will slow down only slightly at five percent," Supachai said.

The report said that the overall current account balance of developing countries had swung into surplus for the first time since the early 1970s.

Several of them, even poorer ones, have even turned into net exporters of capital to capital-rich wealthy nations, yet were still able to create their own additional domestic capital to replenish the outflows, it added.

UNCTAD said that feature alone cast doubt over orthodox theories on development, and called for a rethink of "crucial assumptions" about the relationships between savings, investment and capital flows.

It urged developing economies to steer away from bilateral free trade agreements offered by rich nations, arguing that they stifled longer term opportunities.

Instead the report pointed to the success of regional agreements among nations which are geographically close and at similar levels of economic development, saying they promoted faster trade expansion.

Supachai, a former Thai economy minister and WTO chief, said trade within the thriving East Asia region accounted for half of its total commercial flows.

"Regional cooperation should also include coordinated and joint action in policy areas that strengthen the potential for growth and structural change, including macroeconomic, financial, infrastructure and industrial policies," he added.

Global financial imbalances also pose a threat UNCTAD underlined that currency markets could also harm the competitiveness of nations, especially weaker ones which have historically suffered from overvalued currencies.

In the absence of a multilateral code of conduct on exchange rates, the report argued that developing nations must have the flexibility to cushion themselves from external shocks, including like China by pegging their currencies.

"Regional financial cooperation, particularly among developing countries, may be one of the building blocks for an improved international monetary order," Supachai said.

A day-long training workshop was organised on Tuesday jointly by DCCI-SEDF Knowledge Centre (KC) and INTIMATE (Institute of Training Innovative Management & Technology) in the DCCI Auditorium.

The training was organised on "Financial Evaluation of Investment Projects and Structuring Joint Ventures."

The high profile management training was one of the unique and first joint venture training of DCCI-SEDF-KC and INTIMATE which was well participated by different individuals from banks, financial organisations and private enterprises. The participants expressed their satisfaction about the training and asked for more such need-based courses in future.

Hossain Khaled, President, DCCI and M.H. Rahman, Past President, DCCI and CEO INTIMATE was present during the inaugural session and the certificate awarding programme. In response to the requests they pledged offering such training programmes jointly on issues of national importance. M.H. Rahman explained the role of INTIMATE for Human Resource Dvelopment He also narrated the historical development of DBI to its present state of excellence as training house since its inception in 1991. Md. Hossain Ali, Executive Director, DBI mentioned other training programmes currently being offered by DCCI Business Institute (DBI).

The training was conducted by Lim Chor Ghee, a well reputed training professional from Malaysia. The participatory training included topics on investment projects in a developing country, financial calculation like assessing, cash flows, Net Present Values (NPV), Pay Back Period, Internal Rate of Return (IRR), modes of collaboration between foreign partners, development experiences from other Asian countries, investment laws, implication of management control and evaluation of relevant project salient issues.

Sweden signed an agreement with the UNDP on support to the project "Preparation of Electoral Roll with Photographs" implemented by the Bangladesh Election Commission under the supervision of the Chief Election Commissioner. The Swedish contribution amounts to approximately one million USD and will be channelled through a pooled funding mechanism administered and coordinated by the UNDP, says a press release.

Present at the signing ceremony were the Swedish Ambassador, Ms Brit Hagstrom, and the signatories to the agreement Mr Larry Maramis, Acting Country Director UNDP, and Mr. Ola Hallgren, Swedish Counsellor for Developmeiit Cooperation.

"The preparation of a credible electoral roll is a key element for the holding of tTee and fair elections" said the Swedish Ambassador on the occasion. "This being so we naturally feel both pleased and proud to add Sweden's name- to the list of Development Partners giving tangible support to this important project".

Youngone, the country's biggest multi-national company in the ready-made garment sector (RMG) has mobilised its own doctors, nurses and paramedics to provide emergency health services to the flood-affected people around Dhaka Export Processing Zone Area. The company has distributed medicines among 11084 flood-hit people, mostly working in the Dhaka Export Processing Zone, says a press release.

Youngone also donated Tk SO lakhs to the Chief Adviser's Relief Fund through BEPZA.

As part of its corporate social services the Company set up temporary medical camps at different locations commencing from 18th August, 2007 and concluded the emergency medical services and distribution of medicines among the flood affected people on today with their services from Jalshoka Bazar of Baroipara under Kaliakoir Upzilla of Gazipur district Most of the treatment was for skin disease, malnutrition, diarrhea, eye infection, respiratory tract infection, body pain and personal hygiene related ailments.

Earlier, the company provided same services in Kurgaon under Nabignagar in Savar on 18 and 20 August, Baniapara under Baktarpur in Savar on 21 and 22 August, Guchchhagram under Kalampur in Dhamarai on 26 and 27 August, Konda under Dhamsona in Savar on 28 and 29 August, in Shishu Kanon Ideal School of Ershadnagar under Tongi Upzilla of Gazipur on 1 September and from Jalshoka Bazar of Baroipara under Kaliokor Upazilla of Gazipur district on 4th and 5th September, 2007.