The New Nation - Internet Edition

Rice, paddy procurement target likely to fail in Khulna division

The government's rice and paddy procurement drive is likely to fail to achieve its target in 10 districts of Khulna division during the current season. Food officials have set a target to procure 1.77 lakh mts, including 1.41 lakh mts rice and 35,633 mts paddy, from 10 districts during the current procurement drive that started in the division on April 16. But it has so far purchased only 66,019 mts of paddy and rice from the division. Local administration and Food Department are very much active to gear up the current procurement drive but it is not working properly due to various impediments. Millers, who signed contract with the government, could not supply rice and paddy to the godown as farmers are showing reluctance to sell their crops to them due to its lower price than the local market price.Local administration and Food Department have already issued letters to a number of millers, who failed to supply the rice and paddy according to the contract, asking why their licenses would not be cancelled.Moreover, the government has also cancelled licenses of some rice mills as those failed to fulfill the contract with the government.

Bangladesh looking for US tariff cuts at WTO talks

BUSINESS REPORT

Bangladesh is confident of agreeing a deal to get duty free market access for its exports to the United States during the World Trade Organisation (WTO) ministerial meeting in Geneva, business leaders said yesterday.

"We are hopeful of getting green signal from the US government for duty free entry in its market, which is significant for us to boost economy and also to reduce poverty," said Anwarul Alam Chowdhury, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

Anwarul told reporters that if the US government approved duty free access for Bangladesh its exports to America would rise at least by 30 percent.

"Now we have to pay 16.5 percent duty on average for our exports. If they waive the tariff, we will have more competitive strength as a least developed country (LDC)," Anwarul said.

The US is the single largest destination for Bangladesh ready-made garments where for the last two years the export volume was nearly US$3 billion, a third of total export earnings from the textiles sector.

"It will also help us to focus on the well-being of our workforce of whom more than 80 percent are women," he said.

Officials said that duty free access would also create nearly 200,000 new jobs, mainly for women.

Bangladesh has paid nearly $US520 million annually in customs duty to the US government over the last couple of years, officials said.

Anwarul said at present about 12 million of Bangladesh's more than 140 million people were directly and indirectly engaged in the ready-made garments sector, which accounts for more than three fourths of Bangladesh's total exports.

The textiles sector in Sub-Saharan African countries had been growing at an average rate of 13 percent between 2001 and 2005, largely due to duty-free access to the United States, said a research official of BGMEA.

"Despite it is the election year in the US, a law for duty free access for LDCs including Bangladesh may be enacted, and it is more likely to take effect from next year," the BGMEA President said.

"It is not any favour for us, we want duty free access as per the WTO rules. If the developed nations are truly committed to supporting employment and economic advancement in the LDCs they must support and protect labour-intensive textiles industries," Anwarul said.

A 14-member delegation led by commerce adviser Hussain Zillur Rahman is participating in the WTO.

Korean company to invest Tk 56cr in Karnaphuli EPZ

BUSINESS REPORT

M/s Park (Bangladesh) Company Limited, a Korean company will set up a luggage and handbag manufacturing industry in the Karnaphuli Export Processing Zone.

This 100 per cent foreign-owned company will invest about Taka 56 crore in setting up their plant and will produce to export annually 8 million pieces of different types of bags. The company will also create employment opportunity for 4,250 Bangladeshi and 30 foreign nationals.

An agreement to this effect was signed between the Bangladesh Export Processing Zones Authority and the M/s Park (Bangladesh) Company Limited in BEPZA Complex, Dhaka on July 20. Prasanta Bhushan Barua, Member (Investment Promotion) of BEPZA and Chan Yong Park, Chairman of M/s Park (Bangladesh) Company Limited signed the agreement on behalf of their respective organisations.

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

Al-Arafah Islami Bank Ltd's half-yearly profit up by 183pc

BUSINESS REPORT

A day long 29th Branch Managers' Conference of Al-Arafah Islami Bank Ltd was held at The Westin Hotel on July 19 last.

Chairman, Board of Directors of the bank Alhajj Md Anowar Hossain was present as the chief guest and inaugurated the conference. Members, Board of Directors Alhajj Nazmul Ahsan Khaled, Alhajj Abdul Malek Mollah, Alhajj Kazi Mofizur Rahman and Alhajj Khondaker Mesbah Uddin Ahmed addressed on the occasion. Directors Alhajj Md Harun-ar-Rashid Khan and Alhajj Hafez Md Enayetullah were also present.

MA Samad Sheikh, Managing Director of the bank was presided over the conference. Among others, Additional Managing Directors ATM Harun-Ur-Rashid Chowdhury, executives, officers and employees of the bank were present on that occasion. Forty-six branch managers of the bank participated in the conference.

Md Anowar Hossain said, in his speech, the bank has already introduced online banking from the month of May during this year to make banking service easy, sound and effective. As a result, service quality and volume of transaction of the bank has dramatically improved.

He said during the last six months, the bank has achieved growth of 182.56 per cent in profit, 42.26 per cent in deposit, 37.21 per cent in investment, 32.02 per cent in import and 43.48 per cent in export sector. During the period the bank was able to reduce its classified investment, which stood at 2.75 per cent at the end of June 2008. He also said that a large portion of investments of the bank is being invested on SME sector. The Chairman insisted the branch managers on paying attention to this sector more.

Holcim awarded as 'Best Multinational Company' in cement industry

Holcim Bangladesh Ltd, a leading cement company in the country, has recently been awarded by 'Financial Mirror-Robintex Business Award 2007- 2008' as the 'Best Multinational Company' in cement industry. The award giving ceremony was held at Bangladesh-China Friendship Conference Centre in the city.

Financial Mirror is a national business weekly of the country, published in English since 1993. Every year it arranges this ceremony to recognise the eminent business personalities and organisations that perform excellent performances in their respective fields of business and contribute to the national economic development.

Holcim, the global market leader, is operating in more than 71 countries of the world. It started its operation in Bangladesh in 2000 and within a very short period of time has become the leading cement company of the country for its quality base product and services. Holcim Bangladesh is the first cement company in the country to introduce application-based masonry cement. It is also the first company to achieve ISO 14001, which is given for environmental practice in professional area. Holcim Bangladesh brought a new arena to the cement industry of the country by exporting cement in north east part of India. Besides, Holcim is the first company to be BIS certified. Holcim had significant participation in building the cement roads at Gazipur and Pabna. The company is also actively involved in corporate social responsibility activities.

As part of Corporate Social Responsibility (CSR), in 2003 the company took an initiative to provide insurance coverage for masons through Pragati Insurance. Since then, the company has enlisted about 4000 masons, from all over the country and recently Holcim handed over Tk 50,000 cheque to an injured mason under this insurance program. Holcim has also introduced scholarships for the mason's children under certain criteria.

Niaz Uddin Mahmood, Vice President -Business Development of Holcim (Bangladesh) Ltd took the award on behalf of the company. Mahmood in his speech said that Holcim (Bangladesh) Ltd is proud to have this award and will always try to establish exemplary performance in cement industry and will continue to contribute in the development of the country.

Kamal Uddin Ahmed, Executive Chairman of the Board of Investment (BoI) was present as the chief guest and handed over the crest of the prestigious business awards to the recipients.

Southern University Bangladesh in Chittagong : Dept of English attracts learners and academics

Since its inception in 2006, the Department of English at Southern University Bangladesh has been attracting the learners and academics of the country.

The Department of English is housed in the Academic Building I of the university. It is rich with sufficient number of faculties having required training in teaching English language and literature. Apart from the in-house faculty, distinguished professors from different public universities teach here as visiting professors. From the very beginning veteran educationist and former Principal of Cox's Bazar Govt Women's College Prof AZM Shamsuzzaman Khan has been teaching here as the Head of the department.

The Department of English offers graduate and undergraduate programmes in English providing the students with an opportunity to learn and appreciate the literary works of different nations so that they can develop literary and linguistic aptitudes of their own.

The syllabuses of this department are designed in such a way that the graduates of this department can make them fit for professions like teaching , executives, journalism, management and information technology.

Students have free access to the two full-fledged computer labs with internet connections available. Students can use the English language lab which is the only English language lab in all the private universities in Chittagong. The university has a growing library with a rich collection of books and journals on English literature and language.

An interview with Prof AZM Shamsuzzaman Khan, Head of the Department of English of Southern University Bangladesh has recently been taken by Pankaj Barua (PB), a lecturer of Southern University Bangladesh. The interview has been given below:

PB: Sir, would you please tell us about the prospects of English in the present context?

Prof SZK: The prospect of English in our country is immense. Though it is not declared by the government, yet English is used as the official language in our country. English is the medium of instruction in the fields like banking, trade and commerce, foreign affairs, international relations and education at the tertiary levels. We know that as a language English has suffered a set back in our country during a few years after the independence and the loss that we have incurred is irreparable. So, I think it is high time for us now to recover and be up and doing in our attempts at having a good command over the language.

PB: Do you think the syllabuses of your department are "up to date"?

Prof SZK: Actually preparation of a syllabus is a continuing process. No syllabus should be so rigid as to having no scope for further change or alterations. The most important function of a university is the transmission of newer knowledge and the syllabus for any program is prepared keeping this view in mind. I think the expression "up-to-date" is misleading in the sense that what is "up to date" to day can be outdated tomorrow. But in our syllabus we have tried to include what is new and modern within the field. Provisions are there to include, exclude, change and alter any thing that is found necessary by the learned members of the committee engaged in preparing the syllabus.

PB: What methods do you apply in teaching?

Prof. SZK: well, we have not totally discarded the time old lecture method in our university. For finishing a course a learner has to attend a minimum of contact hours while things like group discussions , class tests and writing of dissertations play a significant role in determining the fate of the students. We have a full fledged language lab.

PB: How do you prepare your students to be the useful human resources?

Prof. SZK: As ours is a private university we observe and survey the recent trends in the global market both within and outside the country. We believe that we should fulfill the needs of the society as such our production of trained and educated manpower should be in proportion with the requirements. From the very beginning we put importance on improving the language four skills of our students so that they can be fluent in the use of the English language. Apart from the core subjects, our students have to study the courses like Computer Fundamentals and Application, Sociology, Bangladesh Studies, International Relations. These courses are very useful for the students to have a fair knowledge about the society and the country, about science and technology and the international affairs and the foreign policies of the countries of the world.

PB: Do you offer any scholarship or waiver for the poor , meritorious students?

Prof SZK: Yes, we are in full agreement with the recommendations made by the UGC in this regard. In addition to the suggested waivers, our university supports the poor, meritorious students with financial assistance in the form of stipends, scholarships and waivers in every semester.

DBBL's Smile-Brighter programme in Comilla

Under the DBBL Smile-Brighter Programme, Dutch-Bangla Bank Limited organised a 5-day long plastic surgery operation, during July 15-19, 2008 in Comilla for the poor cleftlipped boys and girls at the bank's own cost to bring back enduring smile on their faces. The operations were performed at Central Hospital, Comilla by a team of surgeons headed by plastic surgeon Dr AJM Salek. About 185 cleft-lipped boys and girls were enlisted for surgery and 97 of them were operated successfully.

Dr Mozammel Hossain Khan, Medical Consultant of Dutch-Bangla Bank Limited visited the hospital and inquired about the condition of pre- and post-operative patients.

Among others, Prof Md Shahid Hossain, Head of Surgery, Comilla Medical College, Comilla, Assistant Vice President and Manager of DBBL Comilla Branch Badiul Alam Badal, parents of the cleft-lipped boys and girls, local doctors, journalists and local elite were also present.

Little Planet opts for GP Business Solutions

BUSINESS REPORT

Grameenphone Ltd has signed an agreement with Little Planet Ltd recently to provide complete communication facilities under its Business Solutions package.

Grameenphone Business Solutions is an integrated telecommunications service specially designed for the business entities of Bangladesh, providing customized telecommunications solutions through a consultative approach, tailored to the needs of individual businesses or organisations.

Little Planet Ltd supplies corporate promotional items to the local market, be for FMCG products, financial institutes, telecom, or pharmaceuticals companies.

Grameenphone Business Solutions, comprising of modern mobile telecommunications services for any business needs, provides voice, text messaging and mobile data and internet services. Also an offer is a complete mobile-office solution, including mobile email, mobile high-speed data access, internet access, mobile fax and more, providing the freedom to work from anywhere within Grameenphone's wide network coverage.

According to the agreement, Little Planet Ltd is being provided complete communications solutions tailored to the needs of its members, including voice, data and other services. Little Planet will use the services to further improve communication, at an affordable cost.

The agreement was signed by Mahbubur Rahman, Managing Director of Little Planet Ltd, and Khandaker Omar Farhan, Deputy General Manager, Direct Sales, Sales Division of Grameenphone, on behalf of their respective organizations.

Ezazul Haque, Director and M Nurur Rahman, Director of Little Planet Ltd, and Ishtiaq Hussen Chowdhury, General Manager and Head of Direct Sales, Muhammad Jannatul Haque, Group Manager, Naushad Mohammad, Key Account Manager, and A.H.M. Kamrujjaman, Key Account Manager, Direct Sales, Sales Division of Grameenphone Ltd, were also present at the signing ceremony.

IBM selling $80m of Lenovo shares

Reuters, Hong Kong

US computer giant IBM shed more of its stake in top Chinese PC maker Lenovo Group Ltd, offloading up to $80 million worth of stock at a 3.9 percent to 7 percent discount to its closing price on Monday, according to a document sent to investors.

International Business Machines Corp (IBM) is selling 116.19 million shares in Lenovo, or a roughly 1.3 percent stake, at HK$5.19 to HK$5.36 per share, in a deal handled by Citigroup, the document said.

After the share sale, IBM's holdings in Lenovo would drop to 4.7 percent, which falls below public disclosure requirements, from 5.96 per cent, the document said.

IBM acquired its stake in Lenovo at HK$2.675 a share in 2005, when the Chinese firm bought IBM's ailing PC arm for $1.25 billion, and has been selling it off in chunks as lock-up periods have lapsed.

In April, IBM sold $83.6 million worth of Lenovo shares at HK$5.61 each.

Lenovo's shares closed up 2.39 percent at HK$5.58 on Monday, lagging a 3 percent gain in Hong Kong's benchmark Hang Seng Index,HSI.