The New Nation - Internet Edition

A.T.M.Nurun Nabi

The United States of America is the highest importer of the Bangladeshi products, according to Bangladeshi Economic Review 2007. The USA imported 2603.81 million dollar worth products, 28.81 percent, during the first nine months of the last fiscal. Of the country's total woven garments, frozen foods and knitwear; the USA alone imported 49 percent, 39.77 pc and 17.14 pc respectively, indicating that Bangladesh needs to maintain a very strategic friendship with the USA. Germany imported 1466.35 million dollar products, the UK imported 860.21 m $ and France 490.38 m $ during the July-March period of the FY 2006-07, the BER says. In terms of percentage since 2001-02 fiscal years, Germany imported 17.14 pc of the Bangladeshi products, the UK 9.52 pc and France 5.43 pc. In contrast, China is the highest exporter to Bangladesh followed by India.

Meanwhile, the country's export receipts during the first quarter of the current fiscal fell short of target by 17.65 percent, for, the country exported 3077.79 million dollar products against the strategic target of 3736 m $, according to a report released by Export Promotion Bureau. The export earnings is, however, not only short of target but also of the performance during the same period of the last fiscal by 5.37 percent. Bangladesh earned 3251.84 million dollar from exports in 2006-07 FY.

Economists blamed the unsatisfactory performance of the sectors like woven garments, knitwear and frozen foods for failure to achieve target. Export receipts of 1116 million dollar from woven garments stayed behind the strategic target of 1200 million dollar, in percentage by 7.02. Earnings from knitwear were 1204.25 m$, short of target by 14.49 pc and also of last year's corresponding period's performance by 3.61 pc. The country fetched 141.77 million dollars from frozen foods, 8.31 percent behind the target and 7.35 percent behind the performance during the corresponding months of the last fiscal.

The BKMEA president said that achievement of target set for them largely depended on the co-operations of the Bangladeshi missions abroad. He sought their active supports to reach the goal in coming months, overcoming deficit.

Earnings from leather, handicrafts items and engineering products also lagged behind. Howbeit, sectors like agri-products, tea, raw jute, footwear, jute goods and home textiles recorded growth over the target.

Dutch-Bangla Bank Limited (DBBL) awarded Fellowships to 50 scholars for conducting researches in different fields of Social, Biological, Medical, Agricultural, Engineering and Natural sciences to pursue M. Phil, Doctoral and Post Doctoral degree at a simple ceremony held in a local hotel on November 12, 2007. Under this fellowships programme, every scholar will get Tk. 5000/- per month for the entire period of study/research.

Dr. Saleh Uddin Ahmed, Governor, Bangladesh Bank was present as the chief guest and awarded the Fellowships among the scholars while Md. Yeasin Ali, Managing Director of DBBL presided over the function.

Dr. Saleh Uddin Ahmed in his oration profusely lauded the Fellowship Programme of the bank and recalled other philanthropic activities. He added that with this fellowship, the researchers would get encouragement in pursuing higher education in the country and contribute for the society. He congratulated the awardees and stressed on blending research works with business and industry for economic development of the country.

Md. Yeasin Ali, Managing Director of DBBL, in his address said that Dutch-Bangla Bank Limited, over and above its regular financial activities, always reaches to the destitute of the country by way of carrying out a wide range of philanthropic activities.

DBBL provides 1250 scholarships for the HSC and graduate level students every year and in this regard the bank spends an amount of Tk. 4.00 (four) crore annually, he added.

Additional Managing Director of DBBL, AHM Nazmul Quadir, extended vote of thanks to the chief guest, audiences and the media people both print and electronic for attending the function.

Among others, Managing Director of EXIM Bank, Kazi Masihur Rahman, valued clients of DBBL, Deputy Managing Director (Administration) K S Tabrez, Deputy Managing Director (Operation) Ghulam Kabir, Dr. Mozammel Hossain Khan, Coordinator, Dutch-Bangla Bank Foundation and other senor executives of the bank were also present at the function.

Passengers flying with Ethihad Airways (EA) from Thursday have to adhere to the new hand-baggage regulation's which will be implemented at Abu Dhabi airport's Terminal 1 and 1A.

Following current policies in place in Europe and the USA, all liquids, aerosols and gels, to be carried within hand-baggage, cannot be in containers of more than 100 milliliters in size. In addition, all of the containers will have to fit within a one litre transparent and re-salable plastic bag.

In the build-up to the launch Etihad has been communicating directly with its customers to inform them about the new restrictions to avoid unnecessary delays and inconvenience at the airport.

Geert Boven, Etihad Airways' executive vice president sales and services, said: "Etihad Airways will continue to communicate with our customers and assist them as the new regulations are introduced. Staff will be available throughout the airport and information panels will be set up in various locations to reduce any unnecessary inconveniences for our customers."

The new policy, which will also see each transparent plastic bag being visually examined by airport security, complies with standards set by the International Civil Aviation Organisation (ICAO).

Passengers buying liquids, aerosols and gases, sold from Abu Dhabi airport Duty Free outlets and in-flight sales, will be provided with free STAB (security tamper evident bag) for their purchases.

Depending on the needs of the passenger, certain medication, baby food and special dietary products may be permitted in the hand-baggage.

The key message however will be for passengers to put as much of their baggage as possible into the hold of the aircraft.

Standard Chartered Bank has enhanced the daily ATM cash withdrawal limit of all Debit cards to taka 50,000 to add a new dimension to the customers' banking experience, says a press release.. The change is brought as part of the bank's continuous improvement strategy. As a harbinger of new technology in the country, the bank has already replaced all the A TM cards with new VISA debit cards. The bank has decided to deactivate remaining ATM cards (without VISA logo) from market by December, 2007. Customers who have not yet replaced their A TM cards with Debit Cards are requested to do it at any of thebranches or call on 8961151.

Customers of SCB have 24 hours access to 35 SCB A TMs and all other bank ATMs that accept cards with VISA logo throughout the country. Customers can now withdraw cash through these A TMs conveniently.

Local Enterprise Investment Centre (LEIC), a private sector development project managed by IDLC Finance Limited (IDLC) with contribution from the Canadian International Development Agency (CIDA), recently propeleld the third meeting of its Steering Committee.

Md. Murshid Kuli Khan, Deputy Governor of Bangladesh Bank, Dr. M Kamal Uddin, Director of Institute of Appropriate Technology (IA1) of Bangladesh University of Engineering and Technology (BUET), Rokia A. Rahman, President of Bangladesh Federation of Women Entrepreneurs, Deepak Adhikary, Deputy General Manager of South Asia Enterprise Development Facility (SEDF), Hossain Khaled, President of Dhaka Chamber of Commerce and Industry (DeCI), Omar Farooq Khan, Senior Development Adviser of the Canadian High Commission were present at the meeting. Anis A Khan, CEO and MD of IDLC, chaired the meeting and Israt Ara Younus, Centre Director of LEIC, appraised the members of the centre's activities in the first half of 2007 of its achievement of it objectives. The steering committee members provided valuable suggestions and advice.

The objective of the centre is to facilitate longterm partnerships between local SMEs and foreign or local large companies. Such partnerships are expected to help the local SMEs in acquisition of technical know-how and best practices, as well as access to market and capital.

Ms Malka Shamrose has joined as Director of Business Development in Apollo Hospitals Dhaka.

She completed her Masters in Management from Dhaka University. Having 14 years of extensive marketing and management experience of working with the leading multinationals, namely Unilever, BATB and Nestles', she is assuming leadership of the Business Development Department of Apollo Hospitals Dhaka at a time when the corporate healthcare industry in this part of the world is growing and earning the confidence of the people from all walks of life.

Prior to joining Apollo Hospitals Dhaka, she was the Country Director of MTI Consulting, an international business-consulting firm.

Murshid Kuli Khan joined the central bank. Bangladesh Bank, as Deputy Governor on Tuesday. Prior to new assignment, he was Executive Director in the same bank. Murshid Kuli Khan brings with him 31 years of combined experience in the banking profession. He acted as the Managing Director of Janata Bank and Bangladesh Krishi Bank.

Mr. Murshid did his Bachelor with Honours and Masters Degree in Economics from Dhaka University and again Masters in Banking and Finance from the University of Wales, UK. He joined Bangladesh Bank as Assistant Director in 1976 through the Public Service Commission. For successful discharging of various responsibilities and assignments, he was been promoted as Executive Director in the central bank in 1999. Murshid Kuli Khan received extensive training on banks and macro economic management from the Federal Reserve System of USA, the International Monetary Fund, the Bank of England, the Bank of France, the Reserve Bank of India, and the University of California, Irvine, USA.

Bangladesh Steel and Engineering corporation (BSEC) earned a profit of taka 29.72 crore during the financial year of 2006-07, says a press release.

Out of nine operating enterprises, seven are making profit while two are losing concern. Forty-nine percent shares of three units viz. Atlas Bangladesh Limited, National tubes Limited and Eastern Cables Limited had been off-loaded to public.

The above units produced goods worth taka 475.85 crore during the last fiscal and taka 397.63 crore during the FY 2005-06, the press release claims. Production target for the FY 2007-08 has been set at taka 561 crore.

In the field of development, Atlas Bangladesh Limited made a profit of taka 13.60 crore, National Tubes Limited (NTL) earned a profit of taka 4.16 crore during the last fiscal and Eastern Tube Limited taka 4.01 crore.

In shipbuilding, Chittagong Dry Dock profited taka 4.98 crore during the FY 2006-07 on completion of repairing of sea-vessels and Progoti Industries Limited did 11.17 crore. Progoti produces bus chassis, truck chassis, mini-bus chassis, jeep, ambulance, and bus and truck body.