The New Nation - Internet Edition

Handling domestic, int'l phone calls: GETCO Telecommunication, M&H Telecom win licences

ECONOMIC REPORTER

Two local companies--M&H Telecom Ltd and GETCO Telecommunications Limited--have won bids in an open auction to set up international and domestic telecommunication exchanges (ICX) that allow legal connections between international and local telecom operators carrying voice calls.

Announcing to provide 65.75 per cent of their revenue earnings to the government, the two companies, won the bids in an auction beating 26 other competitors.

The auction was organised by Bangladesh Telecommunication Regulatory Commission (BTRC) at Radisson Water Garden Hotel in the city on Wednesday to provide ICX licences to two local companies according to the International Long Distance Telecommunication Service Policy 2007.

ICX refers to switching system, which provides interconnections among the existing or future telecommunication networks of the operators and allows monitoring, lawful interception facilities and roaming number portability.

After wiining the bids, M&H Telecom Ltd chairman Mahfuzur Rahman said the entire process of auction was carried out in a very transparent way. Though some objections were raised earlier, no complaints were made subsequently. If this type of open auction was conducted in other areas, it would be more logical and acceptable.

Rahman, who is also the chairman of ATN Bangla, sought the cooperation of BTRC, in doing business with ICX licence.

In his reaction, GETCO Telecommunications Limited managing director KM Khaled said they got a major responsibility with the winning of the bid for ICX licence.

He also sought the cooperation of the BTRC to carry out the responsibilities smoothly.

Earlier on Tuesday, three local companies--Novotel Limited, Mir Telecom and Bangla Trac Communications Ltd-- won bids to set up international gateways (IGWs) to handle international phone calls to and from Bangladesh.

IGW service is a switching system through which international voice traffic is sent and received. The ICX services will have physical connections with IGW services. All voice calls, including VoIP (voice over internet protocol), will be routed through ICX and IGW services.

Following the auction, BTRC chairman Maj Gen (Retd) Manzurul Alam said a new era has began in the country's telecommunication industry.

Winning the bids for ICX licences by two local companies bring an end to the decades-old monopoly of the state-run Bangladesh Telegraph and Telephone Board (BTTB) as well as preventing all illegal international call termination.

Getco Telecommunications and M&H Telecom will receive licences to operate ICX services for 15 years. The licences are renewable.

According to the licensing agreement, the new companies will have deposit Tk 5 crore in licence fees each. Every year each firm will have to deposit Tk 2.5 crore for renewal of licence.

The new ICXs will be set up in the private sector in addition to the BTTB's existing ICXs and each firm can establish three ICXs. A company will be able to set up one ICX in Dhaka and other two ICXs in Chittagong and Khulna or Sylhet and Bogra.

The BTRC invited bids from local enterprises in October 2007 for ICX licences under the International Long Distance Telecommunication Services Policy 2007.

Prices of soybean, sugar, rice, beef, fish rise again

ECONOMIC REPORTER

Prices of some essential consumer items including edible oil and sugar soared again, while prices of rice and flour that marked sharp rise recently remained almost unchanged at the retail shops in city markets during the last one week.

Retailers said prices of fish and beef that went up to some extent due to the bird flu panic, also remained unchanged in the last one week.

Prices of some seasonal vegetables marked slight rise during the past one week.

Prices of sugar has again started rising in the local market after remaining stable for nearly two years.

During the last one week, non-brand sugar was selling at Tk38 per kg against Tk35 per kg a week ago and Tk28-Tk29 a month ago, while branded sugar was selling at Tk 40 per kg. At the wholesale level, sugar price ranged between Tk 1,740-1,750 (50 kg) against previous rate at Tk 1,640-Tk 1,650 (50kg) a week ago.

"We have no alternative but to increase retail price of sugar as we need to procure the same at higher rate from the wholesale market," a trader in the city's Mirpur Section-11 market said.

Importers attributed the sugar price hike in domestic market to the sharp rise in raw sugar prices in international market. Prices of raw sugar ranged between $305-$310 in the international market against $280-$290 a week ago.

They said the price of sugar soared over the past one week also due to the price hike of refined sugar in the international market. The price of refined sugar in the international market is now around US$ 365 a tonne which was $340 per tonne previously.

In the past one week, prices of rice varieties remained almost unchanged at the retail shops in the capital, as there was no change in prices of the same at the wholesale level.

Wholesalers at Badamtoli and Babubazar said prices of rice at the retail shops might go up again.

Over the last week, retailers said, prices of coarse and finer varieties of rice were Tk 31-Tk 32 per kg and Tk 34-Tk 44 per kg respectively in the capital remaining almost unchanged from their previous prices a week ago.During the last week, at the wholesale level, a 50-kg sack of Minicate variety of rice (Abdur Rashid brand) was selling at Tk 2,000-Tk 2,100 (Tk 41-42 kg) against its previous rate at Tk 1,417-Tk 1,547 (37.50-38 kg) two weeks ago.

Najirshail variety of rice was selling at Tk 1270-Tk 1373 per maund compared to its previous rate at Tk 1,250-Tk 1343 per maund two weeks ago, coarse rice--Swarna--at Tk 1,020-1055 per maund compared to its previous rate at Tk 1,000-1,025 per maund two weeks ago and Paijam (Pari) at Tk 1,040-Tk 1,074 per maund compared to its previous rate at Tk 1,020-Tk 1,044 per maund two weeks ago.

During the last one week, non-brand sugar was selling at Tk38 per kg against Tk35 per kg a week ago. At the wholesale level sugar price ranged between Tk 1,740 and Tk 1,750 (50 kg) against previous rate at Tk 1,640-Tk 1,650 (50kg) a week ago.

In the last one week, prices of canned edible oil of different brands of five litres ranged between Tk 515 and Tk 516 against Tk 495-Tk 505 two weeks ago, traders said.

They said the prices of soyabean oil is increased by Tk 4-5 per litre and is now selling at Tk 105 per litre.

Price of poultry birds that came down to Tk 75 from Tk 85-Tk 90 per kg two weeks ago following lower demand because of news of outbreak of bird flu remained unchanged in the last one week. Price of eggs (four pieces) which declined by Tk 2.0 was selling at Tk 15. Beef and mutton were selling at Tk 180-Tk 190 per kg and Tk 240-Tk 250 per kg respectively with slight increase from their previous prices.

On the other hand, traders said, prices of varieties of local and imported fish that went up sharply following their higher demand remained unchanged during the last one week.

Prices of large-size 'ruhi' (local) were Tk 170-Tk 200 per kg, unchanged from previous price.

During the last week, they said, at the retail level one kilogramme (kg) of packet coarse flour was selling at Tk 42, unchanged from its previous price a week ago.

During the last week best quality eggplant was selling at Tk 22-Tk30 per kg against Tk 18-Tk 25 a week ago. Green chilli and coriander leaf were selling at Tk 35-Tk 40 per kg.

Price of potato which increased by Tk 1.0-Tk 2.0 was selling at Tk 14-Tk 15 per kg. Price of a small piece of cabbage or cauliflower was Tk 16-Tk 17, traders said.

They said prices of local onion ranged between Tk18 and Tk20 per kg while the price of Indian onion remained unchanged at Tk16-Tk18 per kg. Price of the finer variety of local lentil remained unchanged at Tk80-Tk 82. Prices of Nepalese and Turkish varieties of lentil, however, also remained unchanged at Tk 72-Tk 75 per kg and Tk 65-Tk 68 per kg respectively. Market operators said prices of powder milk of different brands that on an average went up by at least Tk 10-Tk 35 recently remained almost unchanged over the last one week.

Bangladesh exports $28m pharmaceuticals last year: Local companies meet 97% of domestic demand

ECONOMIC REPORTER

Bangladesh exported pharmaceuticals worth US$28.12 million to 68 countries of the world last year, registering a 47 per cent growth, while the country's pharmaceuticals sector has a domestic market of about US$700 million, 97 per cent of which is met by local industries.

It was stated at a seminar on 'Investment & Export Opportunities in Pharmaceuticals Industry of Bangladesh' was held recently at DCCI Auditorium.

The seminar was jointly organised by the Dhaka Chamber of Commerce & Industry (DCCI), Bangladesh Association of Pharmaceuticals Industry (BAPI) and Local Enterprise Investment Centre (LEIC).

The seminar was conducted by the DCCI President Hossain Khaled. DCCI Director Asif Ibrahim gave a multi-media presentation on 'Supply of Demand for Pharmaceuticals and Natural Products.' Nazmul Hossain, Group Brand Manager, Beximco Pharmaceuticals Ltd and Rasna Hasan, Head of Corporate Affairs and Communication, Novartis also made multimedia presentations on 'Required Certifications in Pharmaceuticals Industry and Procedures for Exporting Pharmaceuticals Products' and 'Contract Manufacturing from Bangladesh' respectively. SM Shafiuzzaman Khokon, President, Bangladesh Association of Pharmaceuticals Industry (BAPI) and Secretary General of BAPI, Nazmul Hasan were present at the seminar.

In his speech, the DCCI President mentioned that pharmaceuticals sector is one of the fast growing sectors of Bangladesh and has the opportunity to grow further under the provisions of the TRIPS Agreement of WTO.

He informed that the country's pharmaceuticals sector has a domestic market of about US$700 million, 97 per cent of which is met by local industries. 'Our local companies are now exporting to 68 countries all over the world and in 2006-07, total export was US$28.12 million with a growth of 47 per cent in the last fiscal year," he said.

The DCCI President mentioned that almost 85 per cent of the total required raw materials are imported. 'Our projected total import is almost US$300 million for the next three years," he said.

He said the concerned trade bodies, BAPI and the government could work together to remove the impediments affecting the pharmaceuticals sector which particularly needs new investment for production of Active Pharmaceuticals Ingredients (API) for building export capacity and reduction of dependency on imported materials.

Nazmul Hasan spoke on investment and export opportunities in pharmaceutical industry of Bangladesh.

SM Shafiuzzaman Khokon informed the seminar that BAPI has already provided nearly 75,000 licences for opening pharmacies in the country. He also informed that there were nearly 2,00,000 pharmacies in Bangladesh, out of which 75,000 were operating with valid licences. He also said the number of pharmacy graduates in Bangladesh now stands at approximately 3,000-3,500.

Among others, DCCI Vice-President Khandaker Shahidul Islam, DCCI Past President ASM Quasem, other DCCI Directors and participants were present at the seminar.

ICMAB president meets CAG

ECONOMIC REPORTER

Zahir Uddin Ahmed, FCA, FCMA, President of the Institute of Cost and Management Accountants of Bangladesh (ICMAB) called on Ahmed Ataul Hakeem, FCMA, Comptroller and Auditor General of Bangladesh at his office in the city on February 19.

The ICMAB President congratulated the newly appointed Comptroller and Auditor General of Bangladesh and expressed that CMA professionals feel proud and honoured for becoming a CMA professional as Comptroller and Auditor General of the country.

He hoped that through his appointment, the CMA professionals would be able to prove their specialisation in establishing good governance, transparency, accountability and financial discipline in all sectors of the country. The ICMA President sought the CAG's active support for the development of CMA profession and the institute.

The Comptroller and Auditor General reciprocated his good gesture to the ICMAB President and the accompanying delegates. He assured all possible co-operation and support for the development of the Institute and the CMA profession.

Among the delegates, Vice President ABM Shamsuddin, FCMA, Past President and present Vice President AKM Delwer Hussain, FCMA, Treasurer Md. Jasim Uddin Akond, FCMA, Executive Director of the Institute MA Matin, FCMA and AKM Jashim Uddin, FCMA, Director General, Directorate of Local and Revenue Audit were present in the meeting.

New investment worth $30m in Dhaka EPZ

Chinese (Hong Kong) company in the name & style M/s. Queen South Textile Mills limited is going to set up a Textile Industry in the Dhaka Export Processing Zone.

The 100% foreign owned company will invest US$ 30 million and will produce exported oriented textile products. The company will also create employment opportunity for 1000 Bangladeshi nationals.

An agreement to this regard was signed between the Bangladesh Export Processing Zones Authority and M/s. Queen South Textile Mills limited in BEPZA Complex, Dhaka recently. A.Z.M. Azizur Rahman, General Manager (Investment Promotion) of BEPZA and Jamie Wong, Chief Executive Officer I M.D. of M/s. Queen South Textile Mills limited have signed the lease agreements on behalf of their respective organizations.

The Executive Chairman of BEPZA and other officials were present on this occasion.

Peoples Insurance branch managers' conference held

ECONOMIC REPORTER

The Annual Branch Managers' Conference, 2008 of Peoples Insurance Company Limited was held recently at the Head Office of the company.

The conference was presided over by Nazmul Ahsan Khaled, Director and Convenor Executive Committee of the company. MH Khaled, Managing Director of the company addressed the conference on the affairs of the company. Also present in the conference Directors Md Shamsul Alam, Alhaj Md Karim Uddin Bharosha, AKM Aminul Mannon, Jafar Ahmed Patwari and Ex-Director Hasan Ahmed, Executive Directors Mezbahul Karim, AbdullahAI-Mamoon and Md. Mizanur Rahman.

Business performance of the Company',s Branches for the year 2007 was reviewed in the conference. Business targets for the year 2008 in respect of all the branches were determined on the basis of business earned in the year 2007 and the branches were encouraged to achieve their respective target for 2008 with more zeal and dedication.

Emirates raises $253m for Boeing deliveries

ECONOMIC REPORTER

Emirates from Dubai, UAE: Emirates, the Dubai-based international airline, raised US$253 million for the financing of two new Boeing 777 aircraft. The 12-year finance leases were underwritten by three global financial institutions, namely HSH Nordbank AG, Mashreqbank.psc and Mizuho Corporate Bank, Ltd. HSH Nordbank also acted as Facility & Security Agent for the lenders.

The aircraft, one Boeing 777-200LR and one Boeing 777-300ER, were both delivered in January 2008.

Brian Jeffery, Emirates' Senior Vice President Corporate Treasury said: "This group of banks was mandated not only on the basis of attractive pricing, but also because we had confidence in them to close the deal in a tight timeframe. All have become significant relationship banks for us over the past few years, and we particularly appreciate HSH Nordbank's invaluable experience and commitment in arranging this transaction.

"The finance lease structure is simple yet flexible enough for our operational requirements, and is in line with our policy of using diversified funding sources."

Emirates, already operating one of the largest 777 fleets in commercial aviation, has 53 Boeing 777s yet to be delivered comprising: six 777-200LRs, eight 777200LR freighters and 39 777-300ERs.

The new aircraft will be deployed on the airline's long-haul services such as to Houston and Sao Paulo. Emirates introduced daily services to Houston from 1 st February, after a successful launch of three-a-week services on 3rd December 2007.

Independent and financially self-sustained, Emirates is one of the world's most successful international airlines. From its Dubai hub, Emirates operates an all wide-bodied fleet of 115 aircraft to 99 destinations in 62 countries. In 2007, it introduced non-stop passenger services from Dubai to Venice, Newcastle, Sao Paulo, Toronto, Ahmedabad and Houston.

FBCCI election: Rouf Chy panel begins campaign

70 member chamber association group supporters of Rouf Chowdhury panel visit Sylhet on February 17 and 25 mbmers visit greater Mymensingh on 20 February.

A 70 members group of Rouf Chowdhury panel consisting of 30 potenital candidates in the chamber and association groups and supports started their election campaign in the coming FBCCI election with hiarat at the dargah of Hajrat Shah Jalal in Sylhet on the 17th February. Sunamgonj, Sylhet, Moulvibazar and Habiganj chambers accorded them separate receptions. They also visited Brahmanbaria,Bhairab and Narshindi chambers on their return journey to Dhaka on the 18th. In the Sylhet and Narshindi receptions local associations voter were also present. All chambers and association voters declared their spontaneous support for his panel.

On 20th February a 25 members delegation of chamber supporters were led by Rouf Chowdhury on a visit to greater Mymensingh and Gazipur whre they exchanged view with chamber leaders of Mymensingh, Jamalpur, Kishoregonj, Netrokona, Sherpur and Gazipur and were accorded a reception in Mymensingh. Local association voters were also present. The panel was given spontaneous support.