The New Nation - Internet Edition

BSS, Dhaka

The retail price of vegetables and green chilli has been decreased in the city markets with the increase of supply of vegetables.

The market report of Bangladesh Rifles (BDR) on Tuesday said that the retail price of vegetables including squash, brinjal and onion have been reduced by Taka 2 to Taka 3 per kg in the city ordinary markets yesterday.

The market report, however, said the retail price rice and flour and others essentials remained almost stable.

The price of coarse rice in different markets, including Kamalapur, New Market, Karwanbazar, Kalyanpur, Kachukhet and Mohammadpur, ranged between Taka 22 and Taka 23 per kg yesterday.

Rice was being sold at Taka 23 at BDR-run open markets and Taka 19 at BDR-run sales centers yesterday while in Kolkata per kg coarse rice is being sold at a price equivalent to Bangladesh Taka 21.42.

Onion (imported) was sold at Taka 32 to Taka 34 per kg in ordinary city markets while its price in Kolkata was Taka 26.78. Onion at Taka 35 per kg in BDR-run open markets and Taka 28 at BDR-run sales centres.

The price of one-kg packet of flour was between Taka 28 and Taka 33 in ordinary markets yesterday while the price of the item was Taka 32 in BDR-run open markets and Taka 29 at BDR-run sales centres. In Kolkata, the flour is being sold for Taka 26.78 per kg, the report said.

The price of imported lentil (mashur) is between Taka 60 and Taka 65 per kg in ordinary markets, while it is being sold at Taka 65 in BDR-run open markets and Taka 58 at BDR-run sales centres. In Kolkata, the price of the lentil is Taka 62.50 per kg. The price of imported gram (Chhola) was between Taka 60 and Taka 65 per kg in different retail markets yesterday while in Kolkata, the item is being sold at Taka 57.14.

The item is being sold at Taka 62 in BDR-run open markets

and Taka 52 at BDR-run sales centres Sugar is being sold at Taka 28 per kg in ordinary markets compared to Taka 32.14 in Kolkata and Taka 28 in BDR-run open markets.

The price of green chili, however, is ranging from Taka 58 to Taka 80 per kg in ordinary city markets. The item is sold at Taka 70 at BDR-run open markets. The price of green chili in Kolkata is equivalent to Taka 53.57.

The potato is being sold at Taka 18 to Taka 20 per kg in all ordinary markets. The price of potato in BDR-run open market is Taka 19 and at BDR sales centers Taka 14. In Kolkata, the price of the item is equivalent to Taka 16.96.

Soybean oil is being sold at Taka 77 to Taka 80 per litre in ordinary markets while it is available at Taka 80 in BDR-run open markets and Taka 73 at BDR-run sales centres. In Kolkata, the price of soybean oil is Taka 107.14 per litre.

Palm oil is being sold at Taka 73 to 78 per liter in ordinary markets. In Kolkata, the price of palm oil is Taka 101.78 per litre.

The item is being sold at Taka 80 per kg in BDR-run open markets and Taka 73 at BDR-run sales centres the report added.

Grameenphone Ltd. recently signed an agreement with the Security Air Express to provide complete communication facilities under its Business Solutions package.

GP Business Solutions is an integrated telecommunications service specially designed for the business entities of Bangladesh, providing customised telecommunications solutions through a consultative approach, tailored to the needs of individual businesses.

Security Air Express commenced its business in Dhaka in 1988 and has expanded its operations to Chitagong, Khulna, Rajshahi, and Sylhet The company expects to be one among the leading courier companies, in terms of business volume, very soon.

GP Business Solutions, comprising of modern mobile telecommunications services for any business needs, provides voice, text messaging and mobile data and internet services. Also on offer is a complete Mobile-Office solution, including mobile email, mobile highspeed data access, internet access, mobile fax, and more, providing the freedom to work from anywhere within Grameenphone's wide coverage area.

According to the agreement, Security Air Express is being provided complete communications solutions tailored to its needs, including voice, data and other services. Security Air Express will use the services to further improve communication amongst its different offices, at an affordable cost

The agreement was signed by Md. Shafiqul Hasan, Proprietor, Security Air Express, and Khandaker Omar Farhan, Deputy General Manager, Commercial Division, of Grameenphone, on behalf of their respective organisations.

Md. Tarique, Chief Executive Officer, Iqbal Forkan, Director, Reynald Andrews, Manager, Admin & Finance, of Security Air Express, and Md. Touhidul Islam, Group Manager, Asiful Haque, Account Manager, Jabed

Choudhury, Account Manager, Abu Md Shayed, Relationship Manager, of Grameenphone, were present at the signing ceremony.

AFP, Tokyo

The dollar rebounded against the yen but fell towards record lows versus the euro in Asian trade on Tuesday after Federal Reserve chairman Ben Bernanke warned that US mortgage woes may deepen, dealers said.

The dollar stood at 114.83 yen in Tokyo afternoon trade, up from 114.63 in New York late Thursday when it fell as low as 113.98. The euro firmed to 1.4089 dollars from 1.4065. On Thursday, the single European currency spiked to a new record high of 1.4098 dollars. The euro rose to 161.78 yen after 161.25 yen. The dollar rebounded as players were wary of pushing it below 114 yen yet, said Hironobu Hagi, deputy general manager at Shinsei Bank's capital markets division. "But it doesn't mean the dollar-sellling trend has changed," Hagi said, noting ongoing concerns about the US housing and credit markets.

The dollar was also hurt by speculation that Saudi Arabia may abandon its peg to the US currency after its monetary authority refrained from following the Fed in cuting rates this week, analysts said.

Bernanke said Thursday that US housing woes may deepen, saying problems in subprime mortgages to risky borrowers "have far exceeded even the most pessimistic estimates." On Tuesday the Fed slashed its base federal funds rate by a half point to 4.75 percent to try to limit the fallout from credit market distress and a severe housing downturn.

Dealers largely ignored the race to become Japan's next prime minister. The ruling Liberal Democratic Party is scheduled to elect a successor on Sunday to Prime Minister Shinzo Abe, who announced his resignation last week.

The pound, which has been pressured recently by the crisis engulfing British lender Northern Rock, rose slightly to 2.0109 up from 2.0079 dollars.

The Canadian dollar, which on Thursday rose to parity with the dollar for the first time since November 1976, traded at 1.0006 in early Asian trade.

Against other Asian units, the dollar fell to 1.5033

Singapore dollars from 1.5058 a day earlier, to 921.00 South Korean won from 923.10, and to 33.04 Taiwan dollars from 33.08.

But it gained to 9,185 Indonesian rupiah from 9,180, to 45.44 Philippine pesos from 45.40, and to 34.21 Thai baht from 31.86.

A week-long capacity building programme at two local newspapers in Bogra -- The Daily Korotoa and The Daily Aaj O Agamikal -- concluded on Sunday with a view to increasing the quantity and quality of news coverage of business issues.

This is the first-ever programme of this kind in Bangladesh under which the journalists and other staffs of the two dailies were given in-house on-job training on beter coverage of business issues with special focus on SME (small and medium enterprise). A business editor, a senior deskman and a graphics editor from Dhaka-based media houses worked as trainers in the programme.

Management and Resources Development Initiative (MRDI) organised the training programme under its project titled "Supporting Local Media Houses in Bogra to Develop Print Offers for SMEs" supported by Katalyst

As a facilitator, MRDI provided strategic support for all required activities in the two selected newspapers to build their capacity in a sustainable manner, run separate business section in those newspapers and prove the potential profitability of such initiative to them. Necessary support was provided to organise training, workshops and events on the related issues for the journalists and staffs of the two dailies.

With the support of MRDI, the two Bogra newspapers have agreed to launch separate business sections, allocating required space for business news twice or thrice a week.

The coverage of business issues in the two newspapers was monitored and their progress towards building an improved and enhanced business section assessed during the intervention period. The weaknesses and strengths of the coverage were scrutinised for undertaking necessary actions to help overcome their shortcomings.

After the successful completion of the programme in Bogra, MRDI intends to expand the initiative to local newspapers in other districts. Similar programmes will be organised in those districts on a continuing basis for the journalists and staffs of selected newspapers towards the goal of capacity building and sustainable improvement of business coverage.

International Finance Investment and Commerce Bank Ltd. (IFIC Bank) signed an agreement with Central Depository Bangladesh Ltd. (CDBL) on 20th September 2007 at the Board Room of the bank.

The agreement provides for the dematerialization of IFIC Bank shares traded in the Stock

Exchange through the Central Depository System (CDS)'of CDBL which will help eliminate the risk of damage, loss, forgery and duplication of share documents. Delivery through electronic book entry under CDS will also help prompt transfer of ownership. Mashiur Rahman, Managing Director, IFIC Bank Ltd. and M.H. Samad, Managing Director and CEO of CDBL signed the Agreement on behalf of their respective Organisations. Mohammad Lutfar Rahman, Vice Chairman, Murshed Murad Ibrahim, Aminur Rahman and Mr. Abu Tahir Mohammad Golam Maruf, Directors of the Bank remained present on the occasion. Senior Executives of the Bank also atended the function.

Banglalink donated additional funds, as raised by the SMS donations and the Banglalink Oesh Music Festival 2007, to the Chief Advisor's relief fund in aid of the flood-affected people, primarily generated through fund raising activities.

Rashid Khan, CEO of banglalink handing the cheque to Chief Adviser Dr. Fakhruddin Ahmed in his office on Monday.

The SMS donation campaign and the desh music festival were two of a number of activities undertaken by banglalink in making a difference to the people in distress.

It may be mentioned that banglalink had so far donated an amount totalling taka 1.35 crore to the government, generated primarily from the contribution of the employees' salary, the CEO's Fund and proceeds from the SMS donation campaign.

As a responsible corporate entity, Banglalink also directly participated in the relief distribution efforts, taking part with the Joint Forces and the local governments to ensure distribution in some of the most remote and worst affected areas of Bangladesh.

Dr. Fakhruddin Ahmed greatly appreciated the efforts made by banglalink during the flood crisis.

A term loan agreement for Tk. 100 million was signed between Pubali Bank Limited (PBL) and Utara Finance and Investments Limited (UFIL) at Pubali Bank Head Office recently. Dipak Kumar Chakraborty, General Manager, Principal Branch of Pubali Bank Ltd. and S.M. Shamsul Arefin, Managing Director of Utara Finance and Investments Limited signed the agreement on behalf of. their respective organisations at a simple ceremony. PBL sanctioned this term loan for 5 years.

Helal Ahmed Chowdhury, Managing Director of Pubali Bank Ltd. in his short speech said that PBL was extending bulk loan to NBFl's at a competitive interest rate.

S.M. Shamsul Arefin, Managing Director of Utara Finance and Investments Ltd thanked PBL for the loan and expressed his hope to improve the mutual relationship further in future time.

General Manager of Credit Division of PBL Mizanur Rahman Molla and M. Mustafizur Rahman, Company Secretary of Utara Finance and Investments Ltd Md. Jakir Hossain and other officials of both organisation were also present at the agreement signing ceremony.

AFP, Washington

The International Monetary Fund and the World Bank are developing a joint strategy to aid low- income countries that will define their separate roles, a top IMF official said on Tuesday.

John Lipsky, IMF first deputy managing director, said the Fund's role in low-income countries, which has drawn controversy in recent years, will be formalized in a Joint Bank-Fund Management Action Plan that will be unveiled ahead of the two institutions' annual meetings next month.

"This plan is intended to help insure that the efforts of these key institutions remain well-coordinated and consistent, while leveraging each institution's resources effectively," Lipsky said in a speech at an event organized at IMF headquarters by Oxfam International, a leading anti- poverty nongovernmental organization. "The plan is scheduled to be considered by both executive boards before next month's annual meetings," Lipsky said.

The IMF and World Bank meetings are scheduled on October 20- 22 in Washington.

AFP, Shanghai

US auto giant General Motors (GM) said on Tuesday it will boost its exports of US-made vehicles and auto parts to China by more than 800 million dollars from 2008.

The deal includes the Buick branded sports utility vehicle, known as the Enclave in the US, which will be imported by Shanghai GM, GM's joint venture with China's largest auto maker SAIC Group and sold through its network of nearly 400 Buick dealerships across China, GM said in a statement

"These new Buick sport utility vehicles will strengthen our line-up and enable us to continue to meet the changing needs of our growing base of customers," Shanghai GM President Ding Lei said in the statement The Buick agreement is the second of two China export agreements signed by GM this year.

In May, GM signed a deal to export 700 million dollars' worth of luxury sedan Cadillacs and auto components to China from the US.

GM and its joint ventures in China sold a record 876,747 units in 2006, up 31.8 percent from the previous year and it has an estimated 11.8 percent share in the fast-growing market, GM said in January.