The New Nation - Internet Edition

CSE closes higher yesterday

UNB, Chittagong

Trading at Chittagong Stock Exchange (CSE) closed higher yesterday with the gainers dominating the losers.

The CSE All Share Price Index (CASPI) increased by 0.35 percent or 32.00 points to close at 9076.26 points from 9044.26 points on Tuesday. The CSE-30 Index, however, decreased by 0.14 percent or 11.62 points from 8060.75 points from Tuesday's 8072.37 points.

A total of 143 issues were traded yesterday. Of them, 86 gained, 50 declined and seven remained unchanged.

Some 6,408,963 shares and debentures worth Tk 61.28 crore changed hands yesterday against 4,571,848 shares valued at Tk 42.73 crore on the previous trading day.

Call to make 100-day employment programme long-term strategy

BSS, Dhaka

Renowned economist Prof Wahiduddin Mahmud yesterday suggested making the 100-days employment generation programme a long- term strategic plan for ensuring permanent livelihood for the hardcore poor.

Terming the 100-day programme as the largest initiative of the government for the poor, the economist said the employment generation plan needs to be conceptualized in broad-based consultations with stakeholders to materialize its ultimate aim.

The former finance adviser was presiding over a national workshop on '100- day of Employment Generation: Implementation Opportunities and Challenges' organized by the Power and Participation Research Center (PPRC) in cooperation with the World Bank (WB) at LGED auditorium here.

Agriculture Adviser Dr CS Karim spoke at the function as the chief guest while Commerce Adviser Dr Hossain Zillur Rahman was the guest of honour.

PPRC Executive Director KM Eshanul Huq gave the welcome speech while joint secretary of the Ministry of Finance Arastoo Khan presented a keynote paper on the employment programme in the workshop. Adviser to foreign minister of the government of the India Dr Shubhashish Gongadhyay and Michal Rutkowski of the WB spoke as designated discussants.

Citing an identical employment generation programme in India, the economist said the structure of social services in that country is totally different from those in Bangladesh. He said Indian is more advanced in employment generation while social safety net programme (SSNP) in Bangladesh is finer.

He criticized the role of Bangladeshi non government organizations (NGOs) for their failure in organizing the disadvantaged and said the NGOs in India are very much keen to raise the voices of the grassroots people through social movement.

Adviser CS Karim described the 100-day employment generation plan as an innovative one and said the social safety net scaling up scheme should be based on poverty by identifying the large section of targeted hardcore poor.

The adviser suggested integrating 10,000 rural embankments, irrigation structures and the fisheries sector into the employment-generating plan along with a large section of the people.

Dr Hossain Zillur Rahman stressed the need for continuous attention of the government and donor agencies to the SSNP for ensuring food security.

He said social protection is the key component of any the development efforts of the government that includes rural land, rural schooling, urbanization, climate change and river erosion.

"The government have undertaken a number of initiatives to expand the safety net programme," said the commerce adviser.

Arastoo Khan, in his keynote paper, said in the fiscal year 2008-09 the government has allocated 16.4 percent or about 3 percent of the GDP for the SSNP.

The main objective of the 100-day employment generation programme is to help the hardcore people retain purchasing capacity in the face of high inflation rate by creating job opportunities for them, he said.

The programme will create employment opportunities for 20 lakh hardcore poor during mid-October to mid-January and mid- March to mid-May periods.

Dr Shubhashish Gongadhyay highlighted the Indian experiences of employment generation in the workshop and said it should keep in mind that distribution of pre-determined wages among the hardcore people might lead to higher inflation.

Michal Rutkowski said a number of issues like rural education, healthcare, empowerment of women should get priority in the employment programme for effectiveness of the SSNP.

Bank Asia signs agreement with 3 educational institutions

BUSINESS REPORT

Bank Asia Ltd, Bir Sreshtha Noor Mohammad Rifles Public School and College (BNMRPSC), Bir Sreshtha Noor Mohammad Rifles Public School and College (BSNMRPSC) [English Medium] and Bir Sreshtha Munshi Abdur Rouf Rifles College (BMARRC) jointly signed an agreement on June 23 last at Dhanmondi branch of the bank.

Under the agreement, Bank Asia will collect tuition fees on behalf of the said institutions.

Syed Anisul Huq, President and Managing Director of Bank Asia Ltd was present in the signing ceremony as chief guest.

Mrs Shahina Parvin, Principal of BNMRPSC, Major Md Nurul Amin, GSO-2 (education) and Executive Secretary of BSNMRPSC and Tamijuddin Ahmed, Principal of BMARRC also attended the programme.

Besides, senior officials of the bank and the educational institutions were present.

Bangladeshi co to invest $1m at Ishwardi EPZ

BUSINESS REPORT

Messrs Brothers Plastic Industries, a Bangladeshi company will set up a plastic recycling industry at Ishwardi Export Processing Zone.

This 100 per cent local owned company will invest initially about Taka 7 crore in setting up their plant and will produce plastic recycling products. The company will also create employment opportunity for 60 Bangladeshi and one foreign nationals.

An agreement to this effect was signed between the Bangladesh Export Processing Zones Authority and the Messrs Brothers Plastic Industries in BEPZA Complex, in the city on Tuesday.

Prasanta Bhushan Barua, Member (Investment Promotion) of BEPZA and Ratan Kumar Agarwala, Proprietor of Messrs Brothers Plastic Industries signed the agreement on behalf of their respective organisations.

Brig General Jamil Ahmed Khan, Executive Chairman of BEPZA and other officials from respective organisations were present on the occasion.

Handlooms change lifestyle of poor in Pabna, Sirajganj

The poor, particularly women and young girls, are changing their lifestyle through working in the handloom factories in Pabna and Sirajganj districts.

They are gradually becoming self-reliant with their own initiatives with assistance from different government and non- governmental organizations, who provide necessary credits, training and inputs side by side with creating marketing facilities for their products.

Over 15,000 distressed women, divorcees and young girls of rural and urban areas in the two districts are making financial contributions to their families by sewing handloom garments and marketing those. The Women Affairs Department, Social Service Department, Youth Development Department, other government organizations, well-known NGOs like ASA and dozens of local NGOs are playing a vital role in encouraging the women by providing training, sewing machines, credits and inputs.

Production of readymade garments made of handloom fabrics has been growing fast as more and more women, widows, divorcees and teenaged girls are becoming interested in adopting sewing as a profession.

Government and NGO officials said the distressed women and unemployed young girls are showing more interest in sewing profession and added they are hopeful that this profession will help empowerment of women in the region.

The women are producing mainly garments like blouse, petticoat, semiz, kamiz, salwar, scurf, maxi, baby wears, shirts, pants, fotua, caps and other readymade wears for people of all ages.

Housewife Anjumanara, 35, of Bera in Pabna district told BSS, "I sew baby clothes and my husband sells them in the bazaars and hats of the area. We earn about Taka 10,000 a month as net profit. Our sons Helal, 12, and Belal, 7, are now going to schools."

Taking assistance from an NGO, Bithika, Poppy, Shahnaj, Ferdousi Begum, Naima and Rikta of village Kashinathpur under Shahjadpur upazila in the same district have achieved self- reliance by sewing clothes.

Local business community leaders and wholesalers advocated setting up of composite textile and spinning mills in the region for industrialization and creating job opportunities to eradicate poverty and achieve economic uplift.

City Bank's IT rated 'highly secured'

City Bank has been awarded a highly secured Grade 'A' rating following an audit of its IT application by an independent international organisation--South Asian Management Technology Foundation (SAMTF) based in India.

The certificate was presented to the bank's DMD and COO Raihan ul Ameen by Prof Arif Ahmed, Director of SAMTF recently.

Prof Ahmed congratulated the bank on being awarded grade 'A' and remarked that it is commendable for a first generation bank with a large branch network to have the ability to adopt international best practices in their day -to-day functioning.

The grade, formally known as 'ISecGrade', is one of the most exhaustive grading system for IT risk. It is awarded after a review of over 1000 best practices that should be practiced by a bank and involves rigorous examination of policies, practices, and procedures.

City Bank is the first bank in Bangladesh to have been awarded ISecGrade 'A'.

Also present at the event were Prof Veena Hingarh of SAMTF, bank's MD and CEO Mahmood Sattar, Head of IT Kazi Azizur Rahman and Head of Retail Banking Mashrur Arefin.

Prime Bank arranges visit at Nasir Glass project for trainees

Prime Bank HR Division, in coordination with Syndication and Structured Finance Unit arranged a visit to syndicated project Nasir Glass Industries Limited (NGIL) at Gazipur on June 1 as part of 33rd Foundation Course for management trainees.

The objectives of the visit were to take a glimpse on financial system, production process, and quality control system and export potentialities of the project.

Thirty-three participants along with the officials of HR Division and Syndicate Finance Division visited the project to gather practical knowledge regarding various aspects of syndicated finance project in Bangladesh.

8th Edimexpo 2008 begins today in city

The 8th Edimexpo 2008, an education and career expo of Bangladesh begins today at Bashundhara Expo Centre in the city.

ATN Bangla and the daily Samakal are the media partners, bdjobs.com is the web partner, radio forte is the radio partner and acer is the technology partner of the expo.

The five-day 8th Edimexpo 2008 has its mission of providing up-to-date and comprehensive educational and career opportunities and guidance. The Edimexpo is an invaluable platform for the students to gain information regarding their desired educational and career paths.

This is a perfect platform and unique opportunity for the participants to promote themselves & use it as a medium for direct interaction and counseling with prospective & potential students/working executives for spot admissions or interview on the expo premises.

Over 60 universities, education institutions, call centers, fashion institutes, financial institutions and related service providers are participating this year in the 8th Edimexpo in about 90 booths.

Students from all over Bangladesh anxiously wait for this mega event for them to get the first hand knowledge of the further education they wish to achieve and design their career paths.

Adcomm signs deal with ATN Bangla on behalf of City Group of Industries

Adcomm Ltd, a renowned ad agency of the country signed an advertisement contract with ATN Bangla on behalf of City Group of Industries, at a local hotel on July 6 last.

City Group of Industries is producer of consumer goods, namely Teer Soyabean Oil, Teer Mustard Oil, Teer Aata, Maida and Suji, Teer Sugar, Teer Salt, Natural Oil, Sun Soyabean Oil, Jibon Mineral Water etc.

It maybe mentioned here that since the inception of the company in 1972, it has already won the hearts of the consumers for its quality products.

This contract was signed to continuously keep the consumers abreast about the development of any new products and also to update them about the quality of the existing ones.

Those present at the function were Chairman and Managing Director of Adcomm Ltd Ms Geeteara Safiya Chowdhury, Sales and Marketing Adviser of ATN Bangla M ShamsuI Huda, Chairman and Managing Director of Adcomm Ltd Ms Geeteara Safiya Chowdhury, Media Director of Adcomm Ltd Mrs Shamsun Nahar Tarek. Other members from the respective companies were also present on the occasion.

Swanirvar Bima of Meghna Life starts business

Swanirvar Bima Division of Meghna life Insurance has formally started business recently.

Nizamuddin Ahmed, Chairman of the company attended the inauguration ceremony as chief guest while Ekramul Amen FCA, Managing Director presided over it.

Director Hasina Nizam, Nasir Uddin Ahmed, Col (Retd) Shamsuddin Ahmed, Sharmin Nasir, Dilruba Sharmin, MA Majid FCA, Adviser Mujib-Ud Daula, Project Director Sadequr Rahman were also present on the occasion.

Swanirvar Bima Division will operate business activities throughout the country. It aims at selling Ekok and Islami Bima (Takaful) products.

Premier Bank's foundation training course begins

Premier Bank Training Institute started its Foundation Training Course for the newly recruited Junior Officers (cash) started on 8th July, of the Bank The nonorable Additional Managing Director of the Bank Md. Mokhlesur Rahman was present in the starting session as the Chief Guest, while Senior Executive Vice President and Head of F AD, Md. Abdul Hai, Executive Vice President & Head of Credit Sahdat Hossain, Head of Audit Md. Shahjahan and Principal of the Training Institute Ashoke Bandhu Das were also present on the occasion.

32 participants were attended in the workshop for achieving the exclusive training for Cash Management system.

General Pharma introduces Ostocin cream arthritis

General Pharmaceuticals Ltd has launched for the first time in Bangladesh Ostocin cream which is indicated in arthritis (rheumatoid arthritis and osteoarthritis) pain management. The generic of Ostocin cream is Capsaicin.

Conventional oral painkillers have different side effects; but Ostocin topical cream does not have these side effects even using for long time. Ostocin gives synergistic effect while using with conventional oral painkiller. Ostocin is available in 20 gm aluminium tube which costs Tk 50 only.