The New Nation - Internet Edition

Increased maize farming

Experts at a farmers' rally in Rangpur reportedly said that maize production could be increased by using quality seeds and the latest technology to bring prosperity to the growers. Maize farming is not costly but easy and only a small quantity of fertiliser and irrigated water are required for the cultivation of this cash crop round the year, the experts asserted as reported saying all parts of the maize plants are valuable and its stem and shoots are used as fodder and firewood. The experts made these observations at a discussion organised on the occasion of the farmers' field day on technologies for high yielding variety of maize farming at the BARI Technology village in the district.

The experts pointed out that the latest technologies for increased maize production include selection of quality seeds, the timely sowing of the seeds and plantation, fertiliser and pests management, irrigation and de-watering of the maize fields. It is explained that the qualities of various improved maize seeds developed by the Bangladesh Agriculture Research Institute and the proper technologies are there for farming each variety for achieving the highest yields. Despite huge demand for fodder in the country's poultry, pisciculture sectors, maize has become one of the major ingredients to produce biscuits.

It is necessary to ensure best use of the latest technologies and the use of quality seeds for further increasing maize production thrice a year even in sandy char lands, particularly in the vast areas along the mighty river Jamuna. Maize production has become a success story in recent years and now comes the question of having more production of the crop for which experts and research scholars are carrying out experiments. Farmers are also getting interest in maize production as the cash crop is more in demand.

Biofuel use trends in neighbourhood

The Indonesian government, according to a recent media report from Jakarta, will impose 'a new regulation' next month (October) demanding manufacturing companies use at least 2.5 per cent biofuel in their fuel consumption and it is rather mandatory with a view to reducing dependence on fossil fuel. The regulation is possibly going to be issued this month so that it can come into effect next month. The regulation will also give a degree of certainty for biofuel producers through the 'creation of demands' for their products such as biodiesel and bioethanol.

The measure is being taken in a bid to achieve self-reliance step by step following the recent wider global impact of the soaring prices of both fuel and food. To prepare for implementation, the government would cooperate with Indonesia's fuel producer-retailers such as Pertamina, Shell and Petronas to work on securing the supply of biofuel.

These companies would blend the 2.5 per cent biodiesel fuel with diesel fuel before selling to industries. The main purpose of the regulation is not to provide a cheaper fuel source, but to diversify sources of energy and to support the biofuel industry.

The minimum biofuel content requirement for industries would continue to increase. As of June 2008, Indonesia's annual bioethanol production capacity reached 192,349 kilolitres a year and this figure is expected to increase to 4 million kilolitres in 2010. Based on production capacity, the country's annual biofuel production is currently at 2 million kilolitres and is expected to grow to 5 million kilolitres in 2010. As of March this year, the investment commitment for the bioenergy development reached US$ 3.44 billion.

Indonesia, not far away from Bangladesh, has produced two types of biofuels - one from cassava, sugarcane, sweet sorghum and the other from castor and crude palm oil.

An omen of financial disaster hangs heavy

Maswood Alam Khan

A young man while studying in Kellogg in USA or in Rotman in Canada---two famous schools of business management in North America---knits a cocoon of dreams to work in prestigious investment banks like J P Morgan Chase & Co. or Merrill Lynch.

But, with 158 year old Lehman Brothers, one of the world's biggest investment banks, filing for bankruptcy, Bank of America buying Merrill Lynch, another giant of investment banking and American International Group (AIG), the world's largest insurance company, panting to be shored up a student of commerce will now hesitate to knock at the door of a finance house for a job.

These three events centring three giants---Lehman Brothers, Merrill Lynch and AIG---are, without exaggeration, the biggest Wall Street headlines in a decade.

Bank of America, the second-largest U.S. bank, with Merrill in its possession would now turn out to be the top US bank and would likely put 24,000 of Merrill's 60,000 non-broker employees worldwide out of work. That combined with Lehman's approximately 26,000 workers out of job will send major shockwaves through the job markets. Global outplacement firm Challenger, Gray & Christmas said on Monday the U.S. financial sector has shed nearly 103,000 jobs this year, and could now surpass the record 153,105 job cuts announced in 2007.

Just the other day Hurricane Ike pounded Texas, leaving behind floods, power outage and large scale damages to lives, homes and properties. The hurricane, according to some naysayers, seems to portend that things are not going to be well in America and the rest of the world. An air of gloom and despondency seems to have been haunting the whole financial world.

Lehman Brothers' filing for bankruptcy is one of the worst banking collapses in history. Allan Greenspan, the former chairman of the US Federal Reserve, expressed his premonition that this is a once in a half century, probably once in a century type of event. He added another chill in his presentiment: "We will see other major firms fail." David Paterson, New York Governor predicted Wall Street might lay off 30,000 workers in a worst-case scenario with problems at big financial firms that began with subprime mortgages.

Lehman is the latest financial butterfly to flap its wings, and its sudden fall will have ripple effects throughout the entire world of finance. Lehman's bankruptcy filing is the latest symptom of how sick the financial institutions in America are and illustrates just how intertwined the global economy actually is.

Financial commentators are blaming Lehman Brothers CEO Richard Fuld's hubris with a big dose of bad luck responsible for the institution's fall from grace.

Until June, it had never even reported a quarterly loss as a public company. In 2007 the bank's net profit had risen 5 percent to a record $ 4.2 billion.

For years this bank had been doing roaring business in originating mortgages, repackaging them and selling them onto other investors. But as the US housing market went from boom to bust the bank was too heavy with toxic housing loans to unload.

The greatest blunder Fuld committed was when he missed in last August a chance to sell a 25 percent stake in the bank for $ 4 billion to $ 6 billion to Korean Development Bank.

What started as the admirable goal of helping people own their own homes ended up as housing bubble that encouraged financial institutions---big and small---to take on unprecedented amounts of risk---a fragile process that has now been felling towering and venerable financial institutions to the ground boding a bleak future for the whole world.

The year 2008 has witnessed several high-profile failures or near-failures in USA: Bear Stearns, Indy Mac, Freddie Mac, and now Lehman Brothers.

The Federal Deposit Insurance Corporation (FDIC)---an institution that provides deposit insurance guaranteeing safety of checking and savings deposits in member banks---increased its "problem bank" list by 30 percent last quarter. There are now 117 banks on that list, totalling US$ 78 billion in assets.

The U.S. Federal Reserve and major banks have already announced steps to mitigate market volatility and financial gurus are eagerly waiting to hear what the US Central bank, in other words the US Federal Reserve, announces on Tuesday. A cut in interest rate may be a measure the Fed may take to perk up confidence of the puzzled and confused stakeholders.

The world is face to face with a great turning point in the next few days as three major brokers of the world have now disappeared from the scene. There would be winners and losers and only those who are fittest and trustworthy will ultimately survive as the US government can't and won't bail every sick institution as it did with Bear Stearns.

If the Hurricane Ike's latest lash on American coast and Lehman Brothers' sad demise in the latest financial tsunami hitting the Wall Street augur badly that a recession is going to hit the world anytime soon it is time for all of us to be braced for cataclysmic events like the ones that once hit the world in 1930s.

Will a new Premier solve the Thailand crisis?

Dr.Abdul Ruff

With Samak Sundaravej and his entire cabinet, voted for Samak in December 2007, deciding to quit following a Court ruling on 9 Sept demanding resignation for violating constitution, the protesters have got what they primarily want, but, of course, not every thing. Knowing the opposition mood, the ruling People Power Party (PPP) after sticking to its guns, has finally ruled out Samak to be the premier again. PPP re-nominating Samak as prime minister on Sept 11, the party on 12 Sept abandoned move to re-elect Samak. It was expected the choice of a compromise candidate could persuade the demonstrators to abandon the protests that have paralyzed the government and driven tourists away.

On 14 September, Thailand's caretaker government headed by the acting Prime Minister Somchai Wongsawat lifted a state of emergency in the capital, nearly two weeks after it was declared following clashes between pro- and anti-government protesters. The emergency in Bangkok was declared on September 2 after anti-government protesters besieging the then prime minister's offices clashed with his supporters in violence that left one person dead and dozens wounded.

Thailand's ruling party has abandoned its attempt to get embattled leader Samak reappointed as prime minister. The PPP initially said it would renominate him as prime minister, but early on Sept 12 the vote to re-elect him had to be abandoned because too few MPs turned up. It became apparent that partners in the ruling coalition and some members of his own party opposed his nomination. It has become clear that coalition partners and some PPP lawmakers opposed the decision. The PPP is expected to hold talks with the five other parties that make up the ruling coalition in the next few days. But whoever gets the job will face the unenviable task of calming the fevered political temperature and helping the governing party overcome some formidable challenges. Over the next few months it must face the possibility of being dissolved by the increasingly assertive courts over allegations of vote-buying in the last election. A spokesman later confirmed that Samak was no longer trying to win back his job and he has done "his best as the party leader to preserve democracy".

A series of adverse court rulings also undermined Samak's government. He was forced to step down on September 9 after the Constitutional Court ruled there was a conflict of interest when he was paid to host a TV cooking show while premier. PAD accuses Samak and his government of being a puppet regime for former Prime Minister Thaksin Shinawatra, who was ousted in a coup in 2006 and now lives in exile in London.

The opposition PAD leaders want a largely appointed body to govern the country instead. The protesters are, however, unlikely to give up their demands completely, but it was expected they might end up compromising on their call for the government to be replaced by a largely appointed body. It seemed very unlikely that the protesters would have just packed up and gone home, as the government has expected.

They have brought tents, camping equipment and even portaloos to their sit-in at Government House, and show no sign of leaving. Their resolve has been strengthened as Samak's position has become ever more precarious. As well as the PAD, he was also under pressure from the main opposition party and the top army commanders. Elsewhere in Thailand, others have joined in the anti-government cause, holding strikes and disrupting transport routes.

The protesters claim Samak is just a proxy for Thaksin - and would not be satisfied until his PPP party leaves office altogether. The crux of the trouble is the opposition brand Samak as a puppet for Thaksin Shinawatra, the former prime minister who the military accused of corruption and ousted in 2006. Samak had vowed not to bow to the protesters' demands, but was eventually forced out earlier this week over an appearance in a TV cookery show that a court said breached the constitution. A spokesman for the PAD said that the group would accept anyone as an interim prime minister as long as Samak went. Parliament is now scheduled to vote on a new prime minister on Sept 17.

Judiciary literally put an end to Samak's political career. Less than two years ago, the army took over the country after a string of similar protests against Thaksin. But army Chief Anupong Paochinda has ruled out a coup this time, admitting that the last coup failed to solve the underlying issues plaguing Thailand. The military is very powerful, though, and if tensions escalate, the generals might decide it is in the interests of the country to step in.

The Thai Election Commission recently ruled that the PPP committed electoral fraud during December's poll and should be dissolved. If the PPP is barred from office - as Thaksin's Thai Rak Thai party was last year - the opposition Democrat Party is again likely to be the main winner. But it will probably take months before the Constitutional Court decides whether to accept the Election Commission's recommendation - and the current stalemate is unlikely to last that long. State used brute force when pro-government supporters had clashed with PAD protesters, leaving one person dead and dozens injured. But they have not yet started sustained protests of their own, as they did two years ago to combat the pro-Thaksin rallies.

Prime Minister Samak tried all tactics to stick to power, but failed. First Samak insisted he had a legitimate mandate to govern, after winning December's elections, and is unlikely to just give up and go quietly.

Then Samak called for a snap election. At some point, Samak may decide that events are serious enough to warrant dissolving parliament and calling another poll. This was unlikely to solve much, though. The bulk of support for Samak and his People's Power Party (PPP) comes from the rural voters who supported former Prime Minister Thaksin Shinawatra before he was ousted in a coup and barred from politics.

Failing to cut ice with the protesters, Samak offered to hold a national referendum to try to defuse the crisis, asking people what they think about the ongoing protests. But the earliest this could happen is October, because a referendum cannot be held until at least 30 days after being approved by the Senate.

Even if it gets Senate approval, and the protesters - from the People's Alliance for Democracy (PAD) - are willing to accept the delay, there is likely to be a lot of disagreement over the wording of the questions and the way the vote is organized. Even the leader of the Senate has voiced skepticism that a referendum will be able to solve the crisis.

King Bhumibol Adulyadej, who has been on the Thai throne for more than 60 years, is revered across the nation. He has very limited power under the constitution, but because of the immense respect for him, he can wield decisive influence. He has intervened in several disputes in the past; one of the most enduring images of his reign is when he ended street violence in 1992 with a few words to the two main rivals, both of them kneeling at his feet. Samak has already been to see the king since this crisis began, but the conversation between them has not been disclosed.

Judiciary could launch a probe against Samak brand of inciting violence. Samak has been linked to a decision to crack down harshly on a group of left-wing student demonstrators in 1976, and analysts initially feared he might do the same thing again. But he knew that he would lose support and credibility if he ordered the military to crack down on the protesters. And even if he did, there is little chance they would follow orders. Soldiers in Bangkok have already refused to exercise the extra powers Samak gave them when he imposed a state of emergency.

Thailand's ruling party agreed to meet on Sept 15 to pick a nominee to be the next prime minister after Samak Sundaravej's bid to return was snuffed out Sompong Amornviwat, deputy leader of the People Power Party (PPP) and apparent favorite for the post, confirmed the meeting Monday will choose one candidate, and hope that name is acceptable to its coalition partners.

The others are co-deputy leader Somchai Wongsawat and party secretary-general Surapong Suebwonglee. But Sompong rejected the notion that he was the frontrunner after local media reports that coalition parties favored him.

However, Chamlong Srimuang, one of the five leaders of head protest group the People's Alliance for Democracy (PAD), said its action would not end with a new prime minister. Besides demanding the ouster of the ruling party, PAD is pushing a broader agenda to scale back Thailand's democracy by reducing the influence of poor, rural voters, who gave Thaksin steadfast support for providing universal health care and low-interest loans.

The government has been paralyzed since anti-government street protesters stepped up their campaign in late August. Parliament is to vote for a new prime minister on Sept 17. But there was no sign the opposition PAD were stopping with Samak's departure and protest leaders have said no members of the ruling PPP would be acceptable to them as prime minister.

Thousands of protesters in Bangkok have indefinitely besieged Government House and the newly emerging scenario with the exit of Samak would make a shift in the opposition strategy. So far no clear front-runner has emerged and the protesters say they will not accept another leader perceived as close to Thaksin. PAD is wary about the rural support for him.

The move to elect a new leader of PPP to lead the government might pave the way for an end to Thailand's political crisis. But there is no guarantee for that since the opposition wants the ruling regime to quit government. As such, there is no obvious way out of this impasse, and emerging scenario is a clear recipe for lasting peace. Thailand is badly polarized into two sides - those who ardently support Thaksin and his allies, and those who detest them and refuse to countenance the idea of them in power. Until a final compromise is reached, the rift in Thai society is likely to continue even after a new PPP government with a new premier takes office.

Opinion: Providing better bus services

Professor M Zahidul Haque

We feel indeed proud when we see that like the advanced countries, our country has also developed modern and luxurious road transport facilities. But in my opinion, maintenance and passenger services in our transport is very poor.

Recently I traveled to Cox's Bazaar by the Volvo bus of Shohag Paribahan Private Ltd. It was no doubt a luxurious bus service. But I am afraid, the company takes less care to keep their vehicles in perfect order so that passengers could enjoy a hassle free and comfortable journey and reach to the destination safely and in time.

The bus, which was carrying us to Cox's Bazaar suddenly got its air-conditioning system totally collapsed throwing its passengers into untold sufferings. It was then nearly 30 km away from Chittagong. It was announced by the guide that the current bus would be replaced and we were to board on another bus at Shohag's Chittagong counter. When we reached the Chittagong counter, we faced some problems as there were only a few number of wash rooms/toilets. Anyway, with much difficulty the passengers freshened them and boarded on the replaced bus themselves carrying their hand baggage. Thanks Heaven! The Shohag Paribahan bus reached Cox's Bazaar around 9 pm.

In another occasion, a few months back, I traveled to Sylhet by Shohag Volvo bus. On the way the bus went out of order after re-fuelling at a petrol pump in Rupganj (Narayanganj). The driver reported damage of the filter. They had neither any spare part with them nor Shohag company maintains any reserve bus to rescue stranded passengers in case a bus goes out of order on the highway. A lot of cell calls were made both by the Shohag guide and passengers with the Shohag head office.

After nearly three hours, a technician of the company arrived at the scene with a spare filter and fixed it only within ten minutes! But for this we had to remain stranded at Rupganj for three hours. What a splendid service!

Another experience! When we were returning back to Dhaka by Shohag Paribahan (as we had returned tickets) we saw an out-of-order Shohag bus stranded on Dhaka-Chittagong highway with its driver taking rest by the side of the bus under the open air.

The helper from our bus ran to the other side of the road to give water bottles to the driver of the stranded bus which, was given from Shohag Chittagong counter. When enquired, it was understood that the bus had gone out of order two days back and awaiting technical help from the head office!

Meanwhile I didn't like the system of hospitality Shohag offers to its passengers. To every passenger the company provides a bottle of drinking water plus a small pack of biscuit. In addition, they entertain the business class passenger with a fruit juice pack. In the bus, there were some children. They were asking the guide if he could give them fruit juice packs. It was really embarrassing. Later the business class passengers gave all their juice packs to the children. I think, whatever the company provides for entertaining the passengers, every passenger should be treated equally.

Would the Shohag authority please take a note of the aforesaid matters and take initiatives for bringing improvements to their services thereby lifting Shohag's status to a world-class transport company.