The New Nation - Internet Edition

Libya, Qatar to recruit Bangladeshi workers

Mahbubur Rahman Khan

The door for Bangladeshi labours in the Middle East opens as ministers of both Libya and Qatar have expressed their willingness to recruit workers from Bangladesh.

Ministers' assurance comes at a time when many Bangladeshi workers have faced a crackdown in Middle Eastern countries, on charges of violating the local laws or overstaying their visas.

"The Qatari labour minister Sultan Bin Hassan Al Dosari told foreign adviser Iftekhar Ahmed Chowdhury that their country welcomes Bangladeshi manpower and appreciates their contributions to the Qatari economy on Wednesday.

Qatari labour minister Sultan Bin Hassan Al Dosari said that Qatar would respect the existing protocol with Dhaka and recruit more semi-skilled and skilled labours from Bangladesh.

On the other hand, Bangladesh and Libya will sign a new Memorandum of Understanding (MoU) on manpower export tomorrow (Friday), the Ministry of Expatriates' Welfare and Overseas Employment announced it yesterday.

The MoU will be signed by Foreign Adviser Dr Iftekhar Ahmed Chowdhury, also in-charge of the Ministry of Expatriates' Welfare and Overseas Employment, and visiting Libyan Labour Minister Maa'touq Mohammed Maa'touq following formal discussions between the two sides at the State Guest House Padma.

Dr Iftekhar Chowdhury said: "This will be a significant breakthrough for our manpower export. Libya is an expanding market. Its growing cooperation with the West is opening up many opportunities for Libya".

"We should take advantage of this. The MoU will open a new door for all categories of workers. We have also decided to send a full-fledged Ambassador to Tripoli now which will give this added impetus" he said. "The MoU will not only facilitate the dispatch of more manpower but will also protect the interest and promote the welfare of our workers, which is our current emphasis," Dr Iftekhar Chowdhury concluded.

Earlier, the Libyan Minister arrived here on Thursday morning and was received by Expatriates' Welfare Secretary Abdul Matin Chowdhury at the airport.

Al Dosari came to Bangladesh on Jan 5 this year, when Doha signed a protocol with Dhaka on recruiting more Bangladeshi workers.

The agreement seeks another 15,000 semi-skilled and skilled workers to be recruited in different sectors of the booming Gulf economy, including doctors, engineers, nurses, technicians and others.

According to the expatriates' welfare and overseas employment ministry, there are more than 90,000 Bangladeshis currently employed in the both countries.

WB provides $130m to ease food crisis: Crisis pushes 40 lakh Bangladeshis back into poverty

BUSINESS REPORT

Poor families affected by high food prices stand to benefit from a US$130 million World Bank credit to Bangladesh. The financing is designed to ease the pressure on the country's current budget which is staggering from expansion of food-related spending including social protection programs.

The Food Crisis Development Support Credit Project, approved today by the World Bank, is part of the Bank's fast-track Global Food Response Program (GFRP).

"The spike in food prices, compounded by rising prices of other commodities, has pushed over four million Bangladeshis back into poverty," said Xian Zhu, World Bank Country Director for Bangladesh. "This credit will help reduce the pressure on the budget and ensure continuation of the Government's social protection programs, designed to the help the poorest people deal with rising food costs."

According to a World Bank projection the food price shock has increased Bangladesh's poverty rate by around 3 percentage points. It also found that nearly 8 percent of the surveyed households pulled their children out of schools to get jobs to assist their families cope with the crisis. In addition, many poor households have cut their food intake.

The Government has allocated US$800 million in its FY09 budget to deal with this crisis. These measures include making food grain, particularly rice, available to poor people at subsidized prices, scaling up existing safety net programs, setting up a new employment guarantee scheme to help people in poor areas, and increasing the country's strategic food reserves.

The Bank is also providing ongoing assistance to strengthen Bangladesh's social safety net programs, including a new 100 day employment guarantee scheme that started on September 15 this year. Meanwhile, the country has taken several actions over the last 15 years that have strengthened the safety net system. For example, the country is gradually moving to cash-based safety nets to avoid both inefficiencies and possible diversion of funds along the complex procurement, storage, and distribution chain. NGOs and development partners are helping maintain oversight of many of the safety net programs.

"It is critically important to help Bangladesh cope with this crisis," said Vinaya Swaroop, World Bank Lead Economist and project task team leader. "In the absence of concessionary financing resources, the Government would need to curtail development spending or other pro-poor programs in order to sustain its increased social spending. This credit will help the government to respond to immediate crisis-related needs while protecting other programs to promote growth and poverty reduction."

Bangladesh's progress in strengthening its own institutional arrangements for public expenditure, financial management and procurement is reflected in its improved rating under the World Bank's Country Policy and Institutional Assessment (CPIA).

The credit from the International Development Association (IDA), the World Bank's concessionary arm, has 40 years to maturity with a 10-year grace period; it carries a service charge of 0.75 percent.

Bangladesh gains $ 2.10m export order from GITEX-2008 UAE

BUSINESS REPORT

A five-day long trade fair titled " Gulf Information Technology Exhibition" (GITEX-2008) was successfully ended on October 23 in World Trade Center in Dubai, UAE.

Five IT companies took part in the fair started on October 19 under the auspices of Export Promotion Bureau. IT products like software, Hospital management System, Banking management System and other related IT solution were exhibited in the fair.

Bangladesh pavilion was inaugurated by HE Nazmul Quaunine Ambassador of the Peoples Republic of Bangladesh to the UAE. The main objective of participation in this fair was to introduce recent Bangladesh IT related products within the Middle-East and the North-African region with a view to expand our export market Approximately 1,24,312 visitors from 137 countries visited GITEX-2008.

Bangladeshi participants had a sense of business meeting and exchange views with large number of buyers, agents and visitors for developing future business relation. It is reported by the participants spot orders of an amount of US$ 2.10 million could be achieved out of our participation in the GITEX-2008.

It is expected that from the participation in the fair that Bangladesh would be able to significantly boost up her IT export market in Middle -East and African Countries.

DSE witnesses fall for 2nd consecutive day

UNB, Dhaka

The Dhaka Stock Exchange (DSE) witnessed fall for the second consecutive day on Thursday as share prices dropped across the board.

The DSE General Index (DGEN), the benchmark index, fell 10 points or 0.38 percent to close at 2,749 points from 2,759 points on Wednesday while the All Shares Price Index (DSI) dropped 9 points or 0.38 percent to close at 2,278 points.

The DSE-20 index for selective shares, however, rose 15 points or 0.63 percent to close at 2,352 points.

Of the total 238 issues traded on the day, only 77 registered gains marginally while 152 incurred losses and nine remained unchanged.

The day's total turnover fell to Tk 2.35 billion from Tk 2.59 billion on Wednesday while market capitalisation increased slightly to Tk 986 billion from Tk 981 billion on the day before.

Beximco Pharma, Titas Gas, Islami Bank, ICB 2nd NRB, Square Pharma, ACI, Summit Alliance, Uttara Bank, Summit Power and Agni Systems Limited were the day's turnover leaders in terms of value. The day's volume leaders were Beximco Pharma, AIMS 1st Mutual Fund, Beximco Textiles, Golden Son, Agni Systems Limited, Quasem Dry Cell, GRAMEENS2, Daffodil Computers, In Tech Online and Fu Wang Foods.

Top gainers of the day were BD Luggage, BD Dye, National Polymer, ICB, Renwick, BD Finance, Meghna Shrimp, HR Textiles, BCIL and Maq Enterprise.

Top losers were In Tech Online, Alpha Tobacco, BLTC, Monno Jute Stafflers, Miracle Industries, Samorita, Daffodil Computers, Chittagong Vegetables, Dulamia Cotton and Monno Jutex.

Meanwhile, Agni Systems Limited today (Thursday) apprised DSE that they recommended stock dividend at 15 percent for the year 2007-08 while Monno Jutex, Monno Ceramics and Delta Spinning recommended cash dividend at 10 percent each.

Tulip Dairy and Chittagong Vegetables did not recommend any dividend for the year 2007-2008.

Delta Spinning informed DSE that it received a loan sanction of Tk 79 million from Southeast Bank for expansion of its capacity by additional 9,600 spindles over its existing capacity of 57,960 spindles and replacement of some older machinery at a total cost of Tk 138.20 million.

The Company also reported that it has made a net profit of Tk 32.74 million as on June 30 this year.

Unilever Bangladesh organises Distributor Think Tank

Unilever Bangladesh Limited (UBL) organized a daylong workshop with its leading distributors under the banner of 'Distributor Think Tank' at Spectra Convention Centre on 02 June.

The Distributor Think Tank is a forum for UBL's valued business partners where they discuss and agree some on some of the key issues that will facilitate growth.

Rakesh Mohan, Chairman & Managing Director of UBL was present at the workshop.

Also present on the occasion was Mr Mizanur Rashid, Customer Development Director and Customer Development Managers from different regions. At the forum, the distributors also discussed and shared best practices so that all other distributors could benefit from them.

It may be mentioned that the Distributor Think Tank is a pioneering concept of Unilever Bangladesh to better engage with its partners.

This is the second such session where Distributors have come together to discuss and highlight problems that they face and find possible solutions that will benefit their businesses as well as that of UBL.

PBL Golapgonj branch shifted

BUSINESS REPORT

Pubali Bank Limited, Golapgonj Branch was shifted to new premises recently with a view to providing best and modern banking services. Chairman, Board of Directors of Pubali bank Ltd. Hafiz Ahmed Majumder inaugurated the new premises as a chief guest while Managing Director Helal Ahmed Chowdhury presided over the inauguration function.

Directors' of PBL Sk. Wahidur Rahman, Giasuddin Ahmed, Ahmed Shafi Chowdhury, M. Faizur Rahman, Mostafa Ahmed were attended at the ceremony.

In his speech Hafiz Ahmed Majumder said that Pubali Bank is committed to providing the best and innovative banking services needs of the market in fastest possible time. As a part for providing better services and client's increasing demand Pubali Bank has shifted its Golapgonj Branch.

He expressed his hope that Pubali Bank would surely serve its customers with utmost satisfaction by applying modern technology through this branch.

Directors' also delivered speech at the function. They urged all to take banking services through the Pubali Bank.

In his speech Helal Ahmed Chowdhury said that Pubali Bank give priority to provide opportunity and advantage to the customers through application of modern technologies. With a view to expanding the scope of services, Pubali Bank's Golapgonj Branch has started its banking service in its modernize building. He urged all the local people for extending co-operation to the bank. He also Said, Pubali Bank will open 10 new beanches in this year which has already got permitted by Bangladesh Bank. 7 branches will open in rural area & 3 branches in urban area.

General Manager cf Sylhet Region Abdul Karim Chowdhury, Other Executives & Renowned businessmen and local elite were also attended at the function.

GP facilitates hajj camp

BUSINESS REPORT

Grameenphone Ltd is facilitating the services of the Hajj Camp to offer smooth service for the ballotee pilgrims at the camp this year, from October 30 to December 3.

This is the third time that Grameenphone is providing service at the Hajj Camp.

This year around 45,000 pilgrims from Bangladesh will perform Hajj, of which 7,500 are ballotee pilgrims. As part of the facilities, Grameenphone is running two shuttle bus services to transfer the pilgrims from the Hajj Camp to the airport.

Each ballotee pilgrim is provided customized bags for their travel needs. Grameenphone also sets up a service desk and a flexiload counter at the camp for the benefit of the pilgrims. Ballotee pilgrims are also able to make free calls while they stay at the camp.

Additionally a water purifier has been set up to ensure clean drinking water.

A medical assistance booth, manned by Grameenphone's Health, Safety and Environment (HAS) team, has been set up where doctors are available for the pilgrims 24-hours a day, seven days a week. The medical assistance booth is equipped with first-aid kits and necessary medicines and an ambulance is on standby in case of emergencies.

In addition, Grameenphone is also offering select value-added services (VAS) aimed at the Hajj pilgrims. Pilgrims can use these services to gather information on 'the do and don't of the Hajj, verses from the Hadith, as well as relevant Hajj information.

Grameenphone, as a socially conscious company, constantly strives to stand beside its subscribers and help them stay close and safe in everything they do.