The New Nation - Internet Edition

Managing Director Helal Ahmed Chowdhury asked the bank officials to increase foreign exchange business substantially over the performance of the previous year, because there is a scope to secure more business in respect of potentiality thereof.

The managing director who presided over the seminar said it at a seminar held on November 24 2007 at PBL Board Room, Head Office for motivating higher executives regarding increase of foreign exchange business of PBL. All the senior executives, heads of corporate branches, incumbents-in-charge of authorized dealers and branches and all the dealing officers of foreign exchange department were present.

Mr. Chowdhury insisted upon the officials to increase overall foreign exchange business in order to cope with the changes in the environment of the global banking sector.

He emphasized to explore and expand foreign exchange business by maintaining regular contacts with the importers and exporters and applying modern IT solutions in order to keep the pace of advancement of business in the present competitive scenario.

He went on saying to them to work hard to increase remittance, rendering best customer services.

He further advised all officials to be meticulous in compliance of instructions of Head Office, Bangladesh Bank and other regulatory bodies.

Chief Financial Officer ATM Hasanuzzaman, Consultant of Securities Trading Division M. Rafiqul Islam, Law Consultant Kamaluddin Mia, General Managers of Head Office Mirza Ali Insaf, Mizanur Rahman Molla, M. Mustafizur Rahman, Syed Md. Masum, AHM Badrul Alam, MA Zubayer, Regional Heads and other senior executives were present at the conference.

AFP, Tokyo

The dollar rallied away from a two- year low against the yen in Asian trade on Tuesday as news of a big investment in Citigroup by the Abu Dhabi government eased credit market worries, dealers said.

They said the announcement that a United Arab Emirates investment fund will buy 4.9 percent of the US banking giant revived interest in risky "carry trades" that favour high- yielding currencies over low-return ones such as the yen.

The dollar jumped to 108.31 yen in Tokyo afternoon trade from 107.40 in New York late on Monday. The euro soared to 160.97 yen from 159.72 but was slightly weaker at 1.4863 dollars after 1.4872. The greenback had come under selling pressure in US trade after fresh worries about the fallout from the subprime loan crisis eroded earlier optimism about a busy start to the US holiday shopping season.

The sudden reversal on Wall Street "knocked investors off their feet," said Yosuke Hosokawa, head forex strategist at Chuo Mitsui Trust Bank.

But the greenback rebounded in late Tokyo trade, helped by news of the 7.5 billion dollar investment in Citigroup by the Abu Dhabi Investment Authority, which sparked a rally on the Japanese stock market, dealers said. They said the move helped to calm earlier jitters over British bank HSBC's announcement that it would spend 35 billion dollars to bail out two funds it manages.

But analysts warned that further tough times could lie ahead.

The market was looking to US existing home sales data due out Wednesday and new home sales figures set for Thursday for fresh clues on the extent of the US housing slump.

Market participants were also looking ahead to Wednesday's release of the Federal Reserve's Beige Book economic report for fresh leads on whether the US central bank will cut interest rates at its December 11 meeting, dealers said.

The dollar was mixed against Asian currencies. It fell to 1.4414 Singapore dollars from 1.4415 on Monday and to 42.78 Philippine pesos from 42.87, while holding steady at 31.18 Thai baht.

The greenback rose to 32.34 Taiwan dollars from 32.31, to 928.70 South Korean won from 927.90 and to 9,390 Indonesian rupiah from 9,371.

The Dhaka Chamber of Commerce and Industry (DCCI) and 15-member Iranian Business delegation held talks on bilateral matter at the auditorium of the Chamber. Gholamhossein Shajfeal, Vice President of Iran Chamber of commerce and industries (ICCI) and President of Mashhad Chamber of Commerce headed the delegation.

Hasan Farazandaeh, Ambassador of Iran in Bangladesh was present at that time. Hossain Khaled, President, DCCI presided over the meeting. Various issues relating to expansion of bilateral trade and economic cooperation between Bangladesh and Iran were discussed.

DCCI President Hossain Khaled said that the bilateral trade and economic cooperation between Bangladesh and Iran is far below the existing potentials. In 2006-2007, Bangladesh's export to Iran was US$ 50.18 million and import amounted to US $29.48 million. He added that both Bangladesh and Iran are the members of Group 77, GSTP, OIC, OIC-TIPS, D-8 Asian Clearing Union (ACU) etc. and have common historical religious and cultural bondage as well as trade and economic linkages. He opined to strengthen bilateral and regional cooperation among the member countries of ACU to provide their products easy market access to each other.

He emphasized to prepare a Mid-Term Action Plan defining mutual interest by commissioning some sectoral study to develop and diversify business in the field of jute, jute goods, pharmaceutical and textile sector etc.

Iranian business delegates showed keen interest in jointly setting up agro-based Industries, small-scale oil refinery, lubricant and some other industrial machinery.

The fields of interested business activities of the delegation are: Industrial consulting, international consultants, home appliances, manufacturer of silk yarn and silk fabrics, wire and cables, door and window, agricultural spare and agricultural tractors, export and import of silk textile, technical and engineer service etc. Referring to the potentiality of trade between Bangladesh and Iran, the leader of the delegation Gholam Hossein Shafeali suggested to form a Special Group for facilitating trade and investment between the two countries.

He also asked to arrange such type of business meeting at both Iran and Bangladesh. Ambassador Hasan Farazandeh, assured all sorts of cooperation to increase investment, trade volume and to strengthen bilateral relationship between the two brotherly countries.

Among others, DCCI Vice President Alhaj Alauddin Malik, DCCI Directors Mnanzur-ur-Rahman (Ruskin), KMH Shahidul Haque, MS Shekil Chowdhury, Asif Ibrahim, Zafor Osman and other DCCI business leaders were present in the meeting.

World's largest USFDA and ISO certified thermal acupressure device manufacturer CERAGEM of South Korea is rapidly expanding in Bangladesh as demand grows for its unique thermal acupressure service with advanced technology and effectiveness. This organization is offering thousands of customers everyday with free of charges in 12 demonstration centres located at Gulshan, Moghbazar, Wari, Narayanganj, Lalbagh, Mirpur, Shyamoli, Dhanmondi, Bangshal, Rampura, Jatrabari and Paltan on first come first service basis. They have a plan of expanding number of centres upto 100 shortly. After trials of the device in the centres, the user can either become a life time member or purchase it for their family use.

This alternative healthcare device called Ceragem Compact is specially designed to relieve the negative effects of everyday stress on the body, and restore overall sense of well-being by applying Ceragem main 5 principles of massage, Acupressure, Chiropractic, Moxibution and thermal therapy.

The device relaxes and rejuvenates muscles around the applied area and provides therapeutic stimulation of vital pressure point around the spine, stimulating overall circulation and relieving muscle tension.

CERAGEM Bangladesh Limited has set up an example of serving the ailing humanity of Bangladesh by extensive and untiring combined efforts of Korean born Managing Director Mr. B.H. Jun, Bangladesh born Canadian citizen Country director Mr. M Islam and Korean born Australian citizen General Manager Mr. Jin Heo with a highly dedicated and qualified team of very energetic staffs under the company philosophy of "Love, Service and Kindness" since the first opening date on 29th April 2006.

The Highspeed group of Companies are sending relief teams to the areas hit by 11/15 hurricane, says a press release.

A team of 12/13 persons will carry out the relief works in the super cyclone affected areas by one of the passenger-cum-cargo ship 'Abe Jham Jham'. Another cargo ship 'MV Ebadat' will keep supplying from Dhaka for next 2 weeks to strengthen the distribution work. A speed boat will also accompany the ship Abe Jham Jham which is sailing from Wiseghat with full load of above items on Monday night, latest by Tuesday morning. The relief teams from Highspeed group of Companies will carry mineral water, rice, pulse, matchboxes and medicines for the people of Barguna and Jhalkathi districts.

Like every other year, Bangladesh Association of Software and Information Services will organize Soft-Expo 2008, country's largest ICT exposition from February 14 to 18, 2008 at Bangladesh-China Friendship Conference Center. Benchmark Limited, a leading Marketing Communication an Event Management Company, has owned the assignment through a competitive bid to look after the concepts, execution and event management of Basis Soft-Expo 2008.

In this regard, on November 20, an agreement was signed between BASIS and Benchmark in the BASIS office. The agreement was signed by TIM Nurul Kabir, Convener, SoftExpo 2008 & Director, BASIS, and Ashraf Kaiser, Managing Director and CEO, Benchmark Ltd. Rafiqul Islam Rouly, Acting President, BASIS, Ershadul Hamid, Senior Account Manager, Benchmark and Syed Akhteruzzaman, account Manager, Benchmark were also present.

PTI, United Nations

Noting that diamonds have played a crucial role in financing devastating conflicts, India has called for concerted steps to end illegal trade in the precious gem.

Addressing the UN General Assembly yesterday, India's Deputy Permanent Representative to the world body Ajai Malhotra emphasised that the effort should not be solely seen through the narrow prism of peace and security.

But efforts should be made to tackle the underlying causes and issue seen through the perspective of overall development agenda. Such efforts, Malhotra said, need to focus not only on the supply side, but also on all parts of the supply chain including processing, trading, and purchase by the consumer. In this regard, he said the Kimberley Process of certification that the diamond was mined legally is an innovative and useful mechanism.

Fishennen of Guagachiya and Kadamtali villages under Gazaria Upazila in Munshiganj district have been cultivating fish in the tributary of the river of Meghna.

Zobair Manjur, Deputy General Manager of Bangladesh Krishi Bank, Munshiganj Regional Office, on Thursday visited the site at Kadamtali and assured the fishermen to provide them with further loan loan. Among others, Rezaul Haque, Manager of Bhaberchar Branch of the bank, was present during the visit. Sources said four hundred families depend on the fish cultivation over the year.