The New Nation - Internet Edition

10 mts of looted iron rods recovered in Sherpur

UNB, Sherpur

Police recovered 10 mts of looted iron rods from a godown in Sheripara area of the district town and also arrested a businessman in this connection on Thursday. SI of Sadar thana Mizanur Rahman said a truck loaded with 16 mts of rods was snatched by miscreants from Sitakundu upazila of Chittagong district on Monday. Sitakundu thana police arrested two people for their alleged involvement with the snatching. As per their confessional statements, investigation officer of Sitakundu thana Kauser Islam along with the Sherpur thana police conducted a drive in the town on Thursday and arrested businessman Khandakar M Aslam, 35, from his in-law's house in Chakpathak area of the town. Police, on the basis of information given by Aslam, raided the godown of contractor Syed Arifur Rahman and seized the looted rods. Police said sensing their presence Arifur Rahman managed to flee the scene.

Tata's exit brings sigh of relief to local investors

BUSINESS REPORT

India's Tata Group's decision to withdraw a US$3 billion investment proposal has brought a great sigh of relief to thousands of small and medium-scale gas-based industry owners as the country has been facing growing difficulties to meet its domestic requirement of natural gas.

Tata pulled out its investment proposal after it failed to get guarantees from the government for the supply of natural gas for its projects.

"It is clear that the (Bangladesh) government will not be in a position, in the foreseeable future, to grant the projects the natural gas commitment they would require," Mumbai-based Tata Group said. "Consequently, there is no prospect of taking these projects further."

However, Finance Adviser Dr AB Mirza Azizul Islam said the Tata Group's decision is unlikely to affect the flow of foreign direct investment (FDI) in Bangladesh.

He said: "I hope there'll be no adverse impact on the investment."

Board of Investment chief Kamaluddin Ahmed said Bangladesh does not have enough gas to ensure the required supply to the Tata's projects.

However, Anisul Haq, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), expressed disappointment at the Tata's decision and feared that this might affect FDI inflow, although the country's industrialists and businessmen have long been vehemently opposing the Tata's proposal saying that domestic industries would face a serious setback if the Indian conglomerate was given a guarantee of uninterrupted supply of natural gas for its projects for the next several years.

They even feared that the local industries might subsequently be deprived of natural gas supplies if the government approved the Tata's investment proposal.

On the other hand, International Chamber of Commerce Bangladesh (ICCB) said the country is facing three roadblocks for the development of energy sector. Lack of proper strategy for augmenting increasing demand for power supply, depleting natural gas reserves, and exorbitant world price hike of petroleum and food are posing three big challenges for the sector.

Quoting energy experts, the ICCB, in the Editorial of its Quarterly Bulletin released on July 30, said Bangladesh needs an investment of US$8 billion in the energy sector to fulfill the rising demand by 2025.

Citing the government estimate, it said Bangladesh, with 13.54 tcf of proven and recoverable gas reserves, is facing at least 100 million cubic feet of gas (mmcf) shortages a day, as the country can supply up to 1,738 mmcf of gas against daily demand of 1,833 mmcf. In order to achieve and maintain at least seven per cent growth, the country would need supply of energy at a much higher rate to meet increasing demand.

It said per capita power consumption in Bangladesh is only 140 kilowatt hour (kwh) as compared to 325 Kwh in Sri Lanka, 408 Kwh in Pakistan and 663 Kwh in India. Moreover, it keeps electricity out of reach of 70 per cent people of the country. Besides, whatever is available is so erratic and irregular that nobody knows when it is going to come and go-its like a hide and seek game.

The present installed capacity of power generation of the country is around 3500 megawatt, against a demand of over 5000 megawatt on an average. Even against the installed daily generation capacity of 3500 megawatt, the load-shedding, which is a regular phenomenon, is in the range of 600 to 1200 megawatt. Out of this, 500 to 600 megawatt is due to gas shortage. Stoppage or curtailment of gas supplies to industries or power plant has been aggravating the situation further.

Last year 87 percent of total electricity came from gas. Experts said that ground reality of gas production does not suggest that future generation can be continued based on mono primary energy, which is gas. They apprehend that the power crisis will not be over before next 3-4 years. Even situation might worsen. This obviously hampers the much needed growth of industrial sector. Agriculture will also be affected severely due to power crisis.

The power sector master plan suggests that Bangladesh requires 43,000 megawatt (MW) electricity to ensure power for all by 2025. According to the plan, 76 percent of the requirement or 33,000 MW will come from coal although now the percentage is only 5.

Petrobangla to drop case against Chevron: Face arbitration suit at ICSID in Netherlands

BUSINESS REPORT

The government has decided to withdraw the case filed by state-run Bangladesh oil, gas and mineral corporation Petrobangla against US-based energy firm Chevron Corporation, a senior official said yesterday.

Petrobangla filed the case in a Dhaka court last year as the US firm lodged an arbitration suit over a debate on transmission charges for gas supply from a field in Bangladesh.

The government will face the arbitration suit with the International Centre for Settlement of Investment Disputes (ICSID), an institution of the World Bank group, the official said.

"We will withdraw the case from the local court and will face it in the ICSID as our counsellor suggested," said Jalal Ahmed, chairman of Petrobangla.

"The counsellor also suggested for an amicable solution. We have already opinion from the law ministry in favour of our counsellor," Jalal said just before leaving for the Netherlands to attend the hearing on Tuesday.

Bangladesh was not prepared to face the issue on August 5 and hence requested to defer the arbitration till on October 23.

But the ICSID set condition to withdraw the case to defer the hearing, the official said.

Chevron filed the suit with the ICSID demanding back 4 per cent of the gas sales proceeds from the Jalalabad gas field it had paid to Petrobangla as transmission charges.

If the government loses the arbitration, Chevron would get at least $40 million from the Jalalabad gas field and Moulvibazar and Bibiyana fields which have a combined reserve of more than 3 trillion cubic feet of gases, officials said.

"The arbitrary imposition of a 4 percent tariff for natural gas sold to Petrobangla led to the filing of a case by Chevron in the ICSID," Chevron said in a statement yesterday.

Chevron in Bangladesh filed for ICSID arbitration in March 2006 after the parties were unable to settle dispute amicably, the statement said.

"All the agreements t specifically require ICSID arbitration for dispute resolution, with no avenue for use of Bangladeshi courts," the statement said.

"Such disputes are potentially damaging to foreign direct investment, as many international investors are closely watching the outcome of this case," it said.

Rajshahi Zone of IBBL holds Business Promotion meeting

A meeting on 'Business Promotion' organised by Rajshahi Zone of Islami Bank Bangladesh Limited was held on August 1 at Safawang Community Centre, Rajshahi.

Mohd Shamsul Haque, Deputy Managing Director and Head of Operations Wing of the bank was present in the meeting as the chief guest.

Presided over by Mahfuzur Rahman, Executive Vice President and Head of Rajshahi Zone of the bank the welcome speech was delivered by Md Ahsan Ali, Senior Vice President and Manager of Rajshahi Branch.

Mohd Shamsul Haque said in his speech that Islami Bank Bangladesh Limited has been able to achieve the confidence of all by exposing itself as a 'Model Bank' to local and foreign financial institutions.

He suggested all the participants to work with sincerity, professional expertise and to collect update information concerning banking sector and establish good relation with the clients.

He called upon all the officials and staff to sustain the continuation of fame and success of the bank. In this context, he urged all to improve their individual efficiencies up to the mark side by side developing the customer service in line with current globalised world.

He said that it is our commitment to apply the principles of Shari'ah in all stages of investment. He called upon to strengthen the income of the bank by recovering classified and over due investments.

He said that all should work relentlessly with a view to reinforcing the role of Islami Bank through the wide collection of remittance and increasing export business. He also stressed upon providing special service to expatriate clients.

IPDC launches Club Royal

Industrial Promotion and Development Company of Bangladesh Limited has launched IPDC-Club Royal, an optimal lifestyle privilege service with benefits and special pricing exclusive to customers who meet the criteria in the form of term deposits.

As an IPDC Club Royal member, one will receive a wide range of privileges and benefits, which include substantial rewards to the Club Royal members along with their immediate family members (spouse, parents, children) in the form of special rates and discounts at top quality merchants and other acclaimed establishments.

The company launched IPDC Club Royal officially at the Hotel Westin on July 31. Masih-ul Huq Chowdhury, MD and CEO, addressed the guests on IPDC's commitment of services to its clients. Mominul Islam, DMD, along with other officials of IPDC were also present at that occasion.

BRAC Bank empowers customers to rate service standard

BUSINESS REPORT

BRAC Bank Limited has launched a new service quality drive in its branches recently.

Under this initiative, customers will be able to rate the services and the service providers at the touch-point instantly. This initiative, called "Moment of Truth" has been instituted in the Gulshan Branch. Gradually it will be rolled out to all branches of BRAC Bank Limited. This initiative is a part of the bank's continued efforts to provide superior customer service.

SN Kairy, Director, BRAC Bank Limited inaugurated the ceremony. AEA Muhaimen, Managing Director and CEO, BRAC Bank Limited, Abedur Rahman Sikder, Head of Marketing and Corporate Affairs, Firoz Ahmed Khan, Head of Retail Banking and other senior officials of BRAC Bank Limited were present in this event.

Krishi Bank holds Branch Managers' Confce at Comilla

Md Mukter Hussain, Managing Director of Bangladesh Krishi Bank speaks at the Branch Managers' Conference of the bank's Comilla Division held at the BARD Auditorium, Kotbari, Comilla on July 30. Chaired by Md Mosharraf Hossain Chowdhury, General Manager of Comilla Division the conference was also attended by ATM Anisur Rahman, DGM of BCBD Department of the Head Office, all regional heads and managers of 148 branches under the division.

The meeting reviewed performances achieved by the branches during the past financial year and advised all concerned to make concerted efforts with a view to achieving all business targets of present financial year.

Nagor Nodi O Oitijhyo’: Inter School Painting Competition at Pogose School Dhaka held

The 2nd event of Inter School Painting Competition 2008 titled "Nogori, Nodi O Oitijhyo" organised by USG-Campaign for Heritage Conservation, Bangladesh took place at Pogose School, Dhaka yesterday as part of the awareness development for heritage. To create awareness about the importance and significance of the preservation of heritage the competition took place among the students of Class V to VII.

The students drew architectural heritage, heritage edifices, and historic events and shared their views on how they would like to see their city. Artist Mohammad Rafiqunnabi, Architect Selina Afroze and Dr. Maniruzzaman were present at the occasion. The Headmaster of the school Zulfa Mohammad and the teachers were also present

Artist Rafiqunnabi himself, an Alumni of Pogose School talked about his school days and lamented about the change that took place in and around Bahadur Shah Park.

He shared some of his school memories with the students. He congratulates USG and hopes that USG would keep on with their efforts.

The speakers appreciated the effort of Urban Study Group and expressed their views on the importance of conservation of heritage too. Taimur Islam, Team Leader USG talked about the objectives of the program.

The event ended with a prize giving ceremony for the successful participation of the question answer session of the students.

Techno Fun Fair closing ceremony held at NSU

The Techno Fun Fair 2008, organised by North South University Computer Club (NSUCC) came to an end with the closing ceremony in the afternoon on July 30 at NSU.

MA Awal, Chairman, NSU Foundation, attended the ceremony as chief guest. Vice Chancellor Dr Hafiz GA Siddiqi attended the seminar as special guest.

Also attended and spoke at the event, Dr M Ali Rashid, Dean, School of Arts and Social Science and Dr Abul L Haque, Chairman, Dept of CSE, as the guests of honor and faculty advisor K Shajadul Hasan.

Though the fair has come to an end, there is still a workshop which took place yesterday and is also taking place today where Microsoft is showcasing their product Share Point.

MA Awal congratulated the students and faculty and the NSU Computer Club for organizing the fair, which was fun and academic at the same time. He recognised the creativity of the students and also emphasised the fact that by having workshop like this can help bringing the academics and the industry together where both sides can get a feel for the one another.

Dr. Siddiqi, besides thanking everyone, elaborated the fact that NSU as an institution not 'only put importance on education but also help students develop leadership skills and expand their creativity by encouraging them in extra curricular activities such as the Techno Fun Fair. He also said that NSU is committed to support all good ideas from NSU student clubs.

Dr. Rashid and Dr. Haque congratulated the participants and mentioned how proud they were of the organizer and the participants for doing such a great job with the Techno Fun Fair '08. K Shajadul Hasan also praised the involved students for their effort to make the event a success.

At the end of the seminar there was a prize distribution ceremony where the top three programmers were rewarded with plaques recognizing their excellence in programming.

Share your moments thru’ Nokia 'Share Your Story’ image sharing competition

Nokia, the world leader in mobile device manufacturing, is starting an image sharing competition for Nokia users entitled "Share Your Story". The competition which launches on 3 August, 2008 will highlight the image quality of Nokia 2600, 1680, 5000 model phones.

This competition also aims to familiarise people with the idea of image sharing using Nokia devices.

In this competition participants have capture their favourite moments using their Nokia devices and share it through MMS or e-mail, with Model and Television star Joya and Apurbo. These two celebrities will select the winners. The winners will have an opportunity to win a Nokia phone as well as an exclusive dinner invitation with Joya and shopping excursion with Apurbo.

To participate Nokia users need simply to take a photo attach a caption and MMS or e-mail it along with their hand set IME number to the following numbers, 01785130762 01924151438 01824845714 01673858928 or can also e-mail ittosubmit@asiaticjwt.com

The competition closes on 23 August, 2008, the last day for entry acceptance.

Training Course on 'Effective Negotiation Skills' ends in DBI

A certificate awarding programme was organised at the end of three-day training course on 'Effective Negotiation Skills' by DCCI Business Institute (DBI) on July 28 at its own premises. M Salem Sulaiman, Director, Dhaka Chamber of Commerce and Industry (DCCI), was present at the closing ceremony as chief guest.

M. Salem Sulaiman laid emphasis on the role of the purchasing and supply function and its involvement in the negotiation that varies depending on the type and importance of purchase to be made.

He also told that Bangladesh has adopted a private sector led export oriented development strategy in the early eighties. Now it has emerged as an important outward-looking exporting country.

The demand of the products and rate of the consumption in local market are also gradually rising. In order to be successful in export-import business. the entrepreneurs should have efficient and effective negotiation skills, he added.

Referring to the employment of foreigners in local enterprises, he told that Bangladesh has acute crisis in managerial human resources. Without developing skills and efficiency in negotiation, organisation's success will be lagging behind, he cautioned.

He told the participants to utilise the acquired knowledge for conducting effective negotiation for supply and purchase and disseminate acquired knowledge to their colleagues, managements with a view to enhancing overall skills of all concerned.

Executive Director, DBI Md Hossain Ali mentioned that DBI has been offering 40 short-term need-based training courses for professionals and business executives to make them forward-looking.

Ali told that DBI is the only Authorised Examination Body (AEB) of IPSCM course of International Trade Centre (ITC), UNCTAD/WTO, Geneva.