The New Nation - Internet Edition

A.T.M.Nurun Nabi

The projection that Bangladesh is a food deficit country is the first cause of high price of rice. The second cause is the apathy of the government to the plight of the mass, the third cause is that trading in Bangladesh does not follow ethics and morality, and the economics index, and the fourth cause is that India has suddenly raised the price of the exporting rice to taka 500 $ per tonne.

The cause of the fourth cause is that a sense has already grown in the mind of a large section of the traders and the consumers that Bangladesh is dependable on India to feed its people, which India wants to take the advantage thereof.

Truly speaking Bangladesh can import rice at a far cheaper rate from countries like Myanmar, Thailand and Vietnam. A leading rice trader and importer said, "When we have opportunity to remarkably minimise the importing cost, then why should we not exploit it? A consumer on condition of his name not to be disclosed said, "It is unfortunate that the government has failed to take proper steps from before. They excessively depended on India and now heavily paying the price. "Further, the statement of the food Advisor has added fuel to fire," added he.

Price of different kinds of rice per kilo on Friday morning at Khilgaon Taltola Market was the following:_

Miniket taka 42-44, nazirsail variety taka 36-44, coarse rice taka 33-35 and sunned rice taka 30-31. A retailer said, "The price of the coarse rice may come down with the arrival of new supply from abroad. But it will have no effect on the fine quality of rice."

As for meat, eggs and fish, the picture was as under: -

Mutton taka 280 per kilo, beef taka 180, eggs hen (local) taka 66 per dozen, duck taka 60 and hen (farm) taka 50 only. River shad (hilsha) taka 225, walking fish taka 200, climbing fish taka 160 to 200, scorpion (lancer) fish taka 340, ruhit (salmon) taka 120, batashi taka 200, telapia taka 100, swarputi taka 80, lobster taka 300, tengra taka 240, barbel taka 300.

A young woman said with vacant look, "When the cost of living increases every moment at an abnormal rate, how could we feel comfort? We are worried about the days to come."

The vegetables price has remained almost stable from last week. The same day potato was selling at taka 16 per kilo, an increase of taka 2 to 4 over last week level, papaw taka 10, radish taka 8, bean taka 16, cabbage taka 8 to 12, cauliflower taka 10 to 18, brinjal taka 12 to 20, cucumber taka 14, tomato taka 20, green chili taka 30 to 40, cohlrabi taka 10, balsam taka 28, carrot taka 16 and green pea taka 40 to 48.

As for corn & crops; coarse flour was selling at taka 35 per kilo, flour taka 45, lentil taka 68-84, mash taka 70, green gram taka 68, gram taka 60, pea taka 70, sugar taka 30, onion taka 20-22, garlic taka 50 and ginger taka 60.

AFP, Tokyo

Japan is losing its appeal among international investors, the head of the Tokyo Stock Exchange warned today following a dire 2007 for Asia's largest stock market.

TSE chief executive Atsushi Saito promised to strengthen the products lineup of his bourse and urged the government and the private sector to tackle tough competition from rival bourses elsewhere in Asia.

"The US subprime mortgage problem cast a long shadow on markets around the world last year," he said at a new year ceremony.

Even so Japan was one of only a few industrialised nations to suffer a drop in share prices for 2007 as a whole, he noted.

"This fact seems to reflect that our country is losing its attractiveness as a place of investment, while 'oil money' and other huge excess funds flow around the world," he said.

"We must draw up concrete action plans in order to increase our attractiveness as soon as possible," he added.

Tokyo's benchmark Nikkei-225 index lost 11.1 percent in 2007 while many other Asian markets posted double digit gains. Even New York's Dow Jones index managed to end the year up 6.4 percent.

The TSE-the world's second-largest bourse and the biggest in the region-has been trying to boost its appeal to foreign investors, who have long complained about tight regulations, high taxes and past technical problems.

In the hope of overcoming global competition and carving out a niche as Asia's leader, the exchange has signed strategic alliances with the New York and London bourses among others.

The Tokyo bourse suffered another beating Friday, its first session of 2008, with the Nikkei index closing down 4.0 percent at a 17-month low on worries about sky-high oil prices and the health of the US economy.

Japan's Financial Services Agency last month unveiled planned measures aimed at strengthening the competitiveness of the country's financial markets.

Under the package, Japan would remove a ban on creating a comprehensive financial market to handle the trading of stocks, bonds and financial and commodity derivatives in about two years.

The watchdog also aims to cut barriers between banks, securities and insurance firms.

Islami Bank Bangladesh Limited has started Brokerage House as a member of Dhaka Stock Exchange after getting permission from Securities Exchange Commission and Dhaka Stock Exchange Limited.

This Brokerage House has been inaugurated in Securities Trading Department of Islami Bank Bangladesh Limited, 63 Dilkusha Commercial Area (5th Floor), Dhaka. Moulana Zainul Abedin, Acting Chairman of the bank, inaugurated the opening ceremony as the chief guest. Presided over by M. Fariduddin Ahmad, Executive President of the bank the function was addressed, among others, by Principal Mohammad Serajul Islam, Member.

Additional Secretary of Shari'ah Council, Mohd. Shamsul Haque, Mohammad Abdul Mannan & Md. Habibur Rahman, Deputy Executive Presidents and Md. Shouquat Ali, Executive Vice President and Company Secretary was present in the function as representative of the Bank. Top executives of Head Office also attended the function.

Principal Moulana Zainul Abedin in his speech as the chief guest said that share and bond of Shariah-based institutions will be transected through this Brokerage House. He called upon the officers to follow the principles of Shari'ah strictly and to establish the Brokerage House as one of the leading Brokerage Houses of the country.

He said, as the activities of Islami Banking is increasing day by day all over the world, Islami banking will extend more rapidly in our country which is inhabited by 90 percent Muslim population. M. Fariduddin Ahmad urged the officers to conduct research work on how the number of Share & Bond of different institutions based on shari'ah can be increased in the capital market.

On the occasion of New Year's Day 2008, a meeting was held in the premises of BGIC at its Head Office. A.K. Azizul Huq Chaudhuri presided over the meeting. A large number of employees, besides the Principal Adviser Khorshed Alam, the Financial Consultant Md A. Z. Chowdhury, Additional Managing Director (Marketing) K. M. Masum and Deputy Managing Director (Marketing) A. H. Jaigirder attended.

A. K. A. H. Chawdhuri, while speaking on the occasion, thanked all the officers and staff who were engaged in the efforts for bringing BGIC to its enviable position, particularly those who were in the field. He expressed his satisfaction on the tentative business growth in 2007 and hoped that 2008 will also being further prosperity for BGIC. He emphasised that because of our scientific underwriting, re-insurance mechanism and quick settlement of claims BOIC has earned this reputation. He also asserted that BGIC will keep its stride up in future as well. Principal Adviser Khorshed Alam & General Manager (Marketing) Nur E Zaman Albani also spoke on the occasion.

The meeting ended by praying for the salvation of the departed soul of M. A. Samad, the Founder Managing Director and ex-Chairman of BGIC.

The Hasina Shams Foundation, a welfare organisation of Shams Group, distributed winter clothes among the poor people of the Sidr-affected areas of Charbhadrashon, Sadarpur and Boalmari upazila of Faridpur on 28th and 29th December under the leadership of Muhammad Shams-ul Haque, Chairman of Shams Group. The organisation handed woollen blankets, chadors, jackets, sweaters and baby suits to at least three thousand people on 28th December. Mrs Hasina Shams, Co-Chairman of Hasina Shams Foundation, inaugurated the winter clothes distribution work by handing the clothes to the UNO of Sadarpur upozila Nasiruddin Ahmed.

Later on, she went to Piazkhali, a worst affected area due to Sidr and gave the winter clothes to 600 affected poor people. Muhammad Shams-ul Haque, Chairman of Shams Group and Nasiruddin Ahamed, UNO of Shadarpur were also present on the occasion Muhammad Shams-ul Haque, Chairman of Shams Group and Mrs Hasina Shams Co-Chairman of Hasina Shams Foundation also handed the winter clothes to the poor people of Charbhadrashon upozila and Meekandi of Nagorkanda upozila of Faridpur. They distributed the clothes to 1200 poor peoples.

Apollo Hospitals Dhaka celebrated the beginning of the New Year, 2008 in festive mood with new commitments to achieve new goals. The celebration event was inaugurated by Chief Executive Officer Dr .. Ed L. Hansen and he declared New Year 2008 to be the year of Great Customer Service for Apollo Hospi1als Dhaka. New Year's resolution for Apollo Hospitals Dhaka is 'Great Customer Service every day, in every way'. In his speech, the CEO expressed his excitement about the future of Apollo Hospitals Dhaka in achieving new levels of quality in clinical and operation performance. He also emphasised on the definite connection between quality and great customer service.

As part of the leading hospital network in Asia, Apollo Hospitals Dhaka promises to provide the next level of customer care in delivering advanced tertiary care of international standards to the people of Bangladesh.

Hospital staffs of all ranks participated in the celebration on the New Year's Day.

Dutch-Bangla Bank Limited opened its 49th branch at Manikgonj (Shandhani Plaza, 69/1 Shahid Rafiq Sarak) on December 30, with Truly On-line Banking facilities from the very opening day of the branch, inaugurated by AHM Nazmul Quadir, Additional Managing Director of the bank. Local elite, business personalities, bankers, educationists and local journalists were present at the inaugural ceremony. The respected guests, residents of the locality and owners of business houses/shops showed their spontaneous enthusiasm by opening account with the bank.

The opening ceremony started with a Mahfil seeking blessings of the Almighty Allah for successful operation of the branch, prosperity of the business community, depositors of the bank and stakeholders. The distinguished guests at inaugural ceremony opined that, Dutch Bangla Bank Limited is not only rendering present-day customer need-focused banking services but also the bank spends a significant portion of its annual profit for carrying out a wide range of philanthropic activities from which the society at large is benefited. Among others, Mahbubul Runu, President of Manikgonj Chamber of Commerce & Industry, Sudeb Shaha, Chairman of Manikgonj Municipality and senior executives of the bank were also present at the inaugural function.

The 23rd Annual General Meeting of Alltex Industries Limited was held at its factory premises at Ariabo, Rupgonj, Narayangonj on Tuesday, says a press release. The meeting was presided over by Fahim Uddin Ahmad Arif, Managing Director of the company. Barrister Imtiaz Uddin Ahmad Asif, Dy. Managing Director, M.A Mohsin, Additional Director and Liaquat Ali Chowdhury, Company Secretary were also present in the meeting. A large number of shareholders actively participated.

The Managing Director, in his speech, highlighted the significant issues and events of the Company. He also informed that the company is now the leading exporter of home textile products of the country and made a turnover amounting to Tk. 324.73 crore.

The products of the company are now being exported in EU countries like France, Germany, Sweden, Switzerland, Holland, Finland, Belgium, Italy, the USA and UK as well as sought to penetrate new markets in Canada and Australia also. .