The New Nation - Internet Edition

Take coordinated measures to boost fish production

A.T.M.Nurun Nabi

Bangladesh is a fish deficit country according to the statistics of Fish Directorate 2007. The country produced 24.41 lakh metric tonnes of fish during the fiscal 2006-07 and 23.29 metric tonnes of fish during the previous fiscal against the annual demand of 25 lakh metric tonnes. The annual demand of fish per person is 18 kilos.

Experts have pointed out several causes of less production of fish than estimation. Firstly a large number of rivers, river-lets, tributaries, canals, marshes and ponds have dried due to the constructions of barrages on about 54 rivers beyond the borders and due to the constructions of unplanned embankments along the riverbanks, and constructions of roads and highways obstructing the river waters' flow from one end to other.

Secondly, maximum use of the inorganic fertilisers in the cultivatable lands create adverse environment for the fish to grow. During the rainy seasons and when it rains, these fertilisers mix with river waters and from thereto ponds, canals, marshes, lakes etc. Thirdly, the waste and garbage of the mills and factories pour into the rivers and poison the water. The river of Buriganga is the glaring example how a river is made dead.

And fourthly, the indiscriminate netting of the fri fish by the greedy fishermen has hindered normal growth over years. A fish expert said, there are solutions in the problems. It implies upon the government to remove the hindrances gradually in order to increase fish production. By this time, some sort of improvement has been observed.

According to Fish Directorate, the water area of Bangladesh is 54.8 lakh hectares excluding 1,66,000 hectares of seawater. Of it, the closed water has the area of 5.28 lakh hectares (pond & ditch 3.05, baor 0.05 and coastal shrimp hatchery 2.18) and the open water 40.47 lakh hectares (rivers and mouth 10.31, marshes 1.14, flooded lands 28.33 and Kaptai Lake 0.69) and other water 8.73 lakh hectares.

The government allocated taka 551 crore (Non-development Tk. 332, development Tk. 219 crore) during the fiscal 2007-08.

IBBL invents new software in FE business

A workshop on the implementation of "e-IBS Foreign Exchange Module" was held at Mohammad Younus Auditorium organised jointly by International Banking Wing and Information & Communication Division of Islami Bank Bangladesh Limited. Mominul Islam Patwary, Chairman, Executive Committee was present in the workshop as the chief guest and M. Fariduddin Ahmad, Executive President was present as the special guest.

Presided over by Md. Habibur Rahman, Deputy Executive President & Chief of International Banking Wing, the workshop was addressed by Mohammad Abdul Mannan, Deputy Executive President & Chief of Investment Wing, Md. Mahbub-ul-Alam and Md Abdul Jabbar, Senior Vice Presidents. Different mechanisms and aspects of "e-IBS Foreign Exchange Module" a newly invented software of the bank, was discussed in the workshop.

Mominul Islam Patwary thanked all for the introduction of foreign exchange activities through this new software invented by the own manpower of the Bank in Branches. He hoped that this software will be considered to be a milestone in the banking arena of Bangladesh. He also hoped that this software will help facilitate the foreign exchange activities as well as improve the customer service of the bank.

M. Fariduddin Ahmad urged the participants to increase the involvement of information technology of the officials. He hoped that the bank will proceed in future in the application of information-technology in the activities of the bank.

Md. Habibur Rahman laid emphasis over achieving efficiency with a view to turning Islami Bank as the Best Bank in the. international competition. He upheld the practical aspects of the software.

Southeast Bank lands 40th branch at Pahartoli, Chittagong

Southeast Bank Limited expanded its network further by opening its 40th branch at Pahartoli, Chittagong on January 27. Alamgir Kabir, FCA, Chairman of the bank formally opened the Branch as the chief guest. In the inaugural function, among others, former Chairman Azim Uddin Ahmed, Director Sirat Monira, former Directors Duluma Ahmed, Dr. Humayun Kabir, bank's Company Secretary Muhammad Shahjahan, Head of Human Resources Division Shahid Hossain, industrialists, businessmen, customers, educationists, professionals and local elites were present.

In his inaugural speech, Chairman Alamgir Kabir, FCA highlighted the operational status, various financial products, services and future plans of the bank to serve the customers more effectively. He assured that to ensure quality customer service at minimum pricing, Southeast Bank would gradually reduce lending rate and service charge. He urged the local business communities, depositors and clients to avail modern banking services from this branch. Azim Uddin Ahmed, former Chairman of the bank spoke in the function explaining the bank's vision. Shahid Hossain, Head of Human Resources Division of the bank delivered the address of welcome in the function. Local industrialists, elites and customers also spoke wishing the success of the bank. Golam Akbar Chowdhury, Manager of the branch, offered vote of thanks in this function.

The inaugural programme ended off with a dua-mahfil at the branch premises for divine blessing for the well-being of the Bank.

OPEC to freeze oil output amid falling prices

AFP, London

OPEC, whose members together pump 40 percent of the world's oil, will very likely maintain output levels at a meeting in Vienna on Friday as crude prices slide on fears of a US recession, analysts said. They said the balance of opinion favours the status quo, with few members ready to countenance any increase in production, as called for by US President George W. Bush recently.

At the same time, reducing output does not seem a viable option at the moment although some producers are unhappy at the prospect of less revenue as prices fall. "We believe they are unlikely to hike output amid the threat to oil demand growth, rising US inventories and sub-90 dollars a barrel oil prices," said Sucden oil analyst Nimit Khamar.

President Bush, during a visit to the Middle East earlier this month, urged the 13-member Organisation of Petroleum Exporting Countries to increase output to help bring down prices, which soared to a record high above 100 dollars a barrel at the start of January. However since then, worries that recession may strike the world's richest economy and so undercut global demand for crude, have sent oil prices tumbling. On Monday, the price of New York light sweet crude ducked beneath 90 dollars as sliding world stock markets stoked fears of a US-led economic slowdown. New York crude now stands about 11 percent below its record high of 100.09 dollars struck on January 4.

Falling prices mean fewer petro-dollars for OPEC, which could result in the cartel even deciding Friday to cut output to keep income high, according to the Centre for Global Energy Studies. "The Organisation's member-countries have become dependent on the soaring oil revenues of recent years and are likely to seek to defend them in the face of a weakening global economy by cutting production to maintain prices," CGES said in its January report.

Most traders, however, believe that energy ministers from OPEC-which is led by the world's biggest oil producer Saudi Arabia-will agree to freeze production levels amid nervousness across global financial markets.

"It would be very surprising if OPEC raises production with all the uncertainties on the economy and on demand," said Bill Farren-Price, an analyst at Medley Global Advisors.

The group's official daily output ceiling stands at 29.67 million barrels, with only Iraq not part of the quota system.

OPEC's gathering is an 'extraordinary' meeting that was scheduled at its last official get together on December 5 in Abu Dhabi.

There, OPEC decided against increasing production, insisting the market was well supplied with crude and that high prices were caused by speculative activity, not real demand.

"We still expect to see no change in output policy (on Friday), especially as they meet again at the beginning of March" for an official meeting, said Petromatrix analyst Olivier Jakob.

OPEC has maintained its estimate for 2008 growth in world oil demand, arguing that while high oil prices would brake demand in major industrialised countries, the market would continue to hold up in emerging powers such as China and India Strong demand from these Asian nations has contributed massively to the rise in oil prices which have doubled in just 12 months. In its monthly report published last week, the influential CGES blasted OPEC for insisting that unrest in major oil producers such as Iran, and the speculative buying of oil contracts, were behind crude's recent record- breaking run higher.

"The path of oil prices over the past twelve months can be explained in large part by market fundamentals, without needing to shift the blame on to speculators or geopolitics," the energy consultancy said.

OPEC comprises Algeria, Angola, Ecuador, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela.

Chairman of Nokon Ltd. arrives today

Aziz Damji, Chairman of Nokon Limited, a multi-national company producing Agrobased food products, handicrafts and pesticides arrives Dhaka for a three-day business trip.

Nokon Limited incorporated in Bangladesh is a business organisation based on USA has its production establishments in UAE, Pakistan and China. The company so far has invested US$5.92 million in Bangladesh and about 400 Bangladeshi employees are working here.

Mr. Aziz during his tour will inaugurate a automatic rice mills in Dinajpur and visit Export Processing unit at Kutubpur, under Sonargaon Police Station and its industrial unit located at Admajee Export Processing Zone, Admajeenagar, Narayanganj.

Managers’ conference of Prime Insurance Co Heads held

Annual Branch Manager's Conference of Prime Insurance Company Ltd was held on 23 and 24 January, 2008 in the Head Office of the Company. The conference was attended by all branch incharges, departmental of Head Office and all development personnel of the company. Md Zakiullah Shahid, Chairman of the Board inaugurated the conference as chief guest while Ferdous Amin and Shah M. Hasan, Vice Chairmen attended the conference was special guest. Ferodus Ara Chowdhury (Nimmi), Managing Director of the company presided over it. Mizanur Rahman Mostafa, Mainul Huq and Abu Hasan Khan, directors of the company were also attended in the conference.

Ferdous Ara Chowdhury (Nimmi), in her brief speech, presented an overview of the performance as highlighted the achievements of the company for the year 2007. Md. Zakiullah Shahid and Ferdous Amin in their speech expressed their satisfaction for the performance of the brances. On behalf of the board of directors, they whole-heartedly thanked to managing director and all the participants for their commendable performances.

Training course on 'computer Orientation' at FBCCI

A training course on 'Computer Orientation' organised under the project entitled "Capacity Building of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI)" funded by Government of Bangladesh (GOB) was held at FBCCI Board Room. Around 30 (thirty) representatives from the district chambers and trade associations participated in the course. The three-day course was designed to develop the knowledge and skill in computer operation of the trainees. It included modules on Basics of Computer Operation, Spreadsheet Analysis, Power Point Presentation and Internet, etc. Experts on computer and senior officials of FBCCI conducted the courses.

Syed Jamaluddin, Secretary General of FBCCI distributed the certificates to the participants at the closing ceremony today (28.01.2008). He also thanked the participants for attending the program and hoped that the trainees would benefit from this course.

Among others, Mir Muniruzzaman, Secretary, FBCCI, Faiz Ahmed Additional Secretary, FBCCI and M Anwarur Rahman, Deputy Secretary (Project) and Coordinator of the training course were present.

City Bank opens New Market Branch

The City Bank Limited opened its New Market Branch relocated from its old premises to the new, state-of-the art premises on Novera Square, Road No.-2, Chanmondi, Dhaka on 27th January, 2008. Managing Director of CEO Kazi Mahmood Sattar inaugurated the branch, which is equipped with full-fledged modern banking facilities.

At the inauguration, also present were DMDS Sohail RK Hossain, Raihan Ul Ameen, DH Choudhury, Head of Retail Banking Mashrur Arefin, Head of SME Banking B. Choudhury and other officials of the bank.

M Shah Alam Sarwar new AMD of UCBL

The Board of United Commercial Bank Ltd. appointed M Shah Alam Sarwar Additional Managing Director effective from January 22.

Mr. Sarwar enters UCBL after a distinguished 25 years banking career at international banks & financial institutions. Prior to this appointment, he was Managing Director of IPDC of Bangladesh Ltd. He started his career in Grindlays Bank in 1982 as a Management Trainee and held country level senior positions in American Express, Standard Chartered & ANZ Grindlays Bank.

Mr. Sarwar worked and was trained in different international locations including UK, Australia, UAE, Singapore & Hong Kong.