The New Nation - Internet Edition

Garment exports to surge despite global recession

NATION BUSINESS REPORT

Despite the current global recession, the ready made garment export from Bangladesh is likely to surge in the next year.

Anwar-ul-Alam Parvez, President of the Bangladesh Garments Manufacturers and Exporters Association (BGMEA), countered the World Bank prediction and said, "The World Bank prediction is whimsical and unrealistic. The ongoing global economic recession will rather create opportunities for the country's garment sector and the export will not decline as the bank predicted."

At a press briefing organized at its office in Dhaka last week, the World Bank country director forecasted a decline in exports by 4.3 percentage points for the current financial year.

"The recession indicates both risks and opportunities for the RMG industry. Bangladesh's lower-end basic garments have been forecast to be less affected than the high value items," said Parvez.

According the BGMEA President, available data shows that in spite of the fact that world is going through recession, the graph of Bangladesh's ready made garment exports will continue to move upward.

IDLC bags SAFA Best Presented Accounts Award

NATION BUSINESS REPORT

IDLC Finance Limited, a joint-venture multiproduct financial institution, received the bronze medal under Best Presented Accounts Award 2007 presented by the South Asian Federation of Accountants (SAFA), an apex body of SAARC, in the category "Non-Banking Financial Sector". The awards were distributed at a ceremony held recently in Hyderabad, India.

The awards, under different categories, are conferred based on evaluation administered by the SAFA Committee on Improvement, Transparency, Accountability and Governance of the published annual reports of entities from South Asian Countries.

IDLC has been receiving' this prestigious award for the last three consecutive years.

The financial institution has also been bagging the National Award for the best-published annual accounts and reports from the Institute of Chartered Accountants of Bangladesh (ICAB) for the last few years.

IDLC's General Manager and Chief Financial Officer, HM Ziaul Hoque Khan received the award at a function organized by SAFA in Hyderabad, India.

National Bank inaugurates 103rd branch in Mudaffargonj

NATION BUSINESS REPORT

The l03rd branch of National Bank Limited has been inaugurated recently at Mudaffarganj, Laksam, Comilla.

Zakaria Taher, Director of the Bank formally inaugurated the branch as chief guest.

In his speech, Zakaria Taher said that NBL would make contribution to the business development of Comilla area.

Md Abdur Rahman Sarker, Managing Director of the bank mentioned in his speech that the banking network of NBL had further been extended in greater Comilla.

'Our Mudaffargonj branch will fulfill the cherished desire of the people of this locality for modem banking facility,' he said.

Among others, A. K M Shafiqur Rahman, Senior Executive Vice President and Company Secretary of the bank delivered welcome address while Md Delowar Hossain, Manager of Mudaffarganj branch delivered vote of thanks.

Besides, Sayeed A Z M Suddaz Hossain, Chairman Mudaffarganj Union Parisad and Advocate Md Khairul Anam Khan (Toufique) of the invited guests also spoke on the occasion.

The elites and businessmen of the area were also present at the opening ceremony.

EC delegation witnesses shrimp cultivation process in Cox's Bazar

Our Correspondent, Chittagong

Food and Veterinary Department of the European Commission (EC) expressed their satisfaction over shrimp cultivation process in the country.

A two-member delegation of the department witnessed the task of production of the shrimp fries, shrimp cultivation process and use of medicine in the related fields in Cox's Bazar district during its visit there Monday last.

The EC team inspected Kolatali Hatchery and Juliarchar Sea Foods in Cox's Bazar district.

The visiting team critically reviewed whether the specific international code of conduct set for the purpose is being followed in the shrimp industries and witnessed that the EC-prescribed rules and regulations were complied with in a fair manner.

Later, a team of Bangladesh Shrimp Hatchery Association (BSHA) led by its Advisor Yunus Chowdhury met the visiting delegation at a local hotel.

BSHA proposed formation of separate committees at the shrimp producing and exporting zones for ensuring regular review and monitoring on matters related to shrimp.

Regular monitoring of the said committee would remove all sorts of doubts about shrimp fries production, shrimp cultivation process and other related matters, BSHA leaders hoped.

Shahjalal Islami Bank opens 33rd branch in

Mymensingh

Shahjalal Islami Bank Limited (SJIBL) opened its 33rd branch at Swadeshi Bazar in Mymensingh town on November 27 last. Sponsor shareholder of the bank Alhaj Mohiuddin Ahmed formally inaugurated the branch as chief guest.

Alhaj Mohiuddin Ahmed said Shahjalal Islami Bank marched ahead due to the excellent services provided to its clients. He hoped that the bank would continue to contribute to trade, commerce and industrialisation as well as so co-economic development of Mymensingh area.

Managing Director Mohammad Ali gave a short brief of the bank's deposit and investment schemes.

He said the bank has become one of the best banks within a short period due to proper guidelines set by the board of directors and also because of dedication and sincerity of the bank staff.

Among others, Chairman of the Board Alhaj Akkasuddin Mollah, Vice Chairmen Alhaj Mohammad Farooq and Alhaj Syed Nurul Arefeen, Directors Engr Md Towhidur Rahman, Alhaj Abdul Halim, Alhaj Khandoker Sakib Ahmed, Alhaj Rukunuddin Khan, Sponsor Shareholder Alhaj Md Hasan, Alhaj MA Mannan, Former Director Md Masud, Managing Director Muhammad Ali, Deputy Managing Director Md Mukhter Hossain were present at the opening ceremony.

Bangladeshi students win awards for top results in Cambridge exams

Bangladeshi students who excelled in the Cambridge O Level and International A/AS Level examinations held in June 2008 received awards at the Brilliance in Bangladesh ceremony in Dhaka on Saturday 29 November, hosted by University of Cambridge International Examinations (CIE).

Over 80 awards were presented to students who achieved the highest marks in a single Cambridge O Level or International A/AS Level examination, or a group of subjects.

Four Bangladeshi students have each won one of CIE's prestigious Top in the World awards for their outstanding performance in a single Cambridge O Level. The winning students outperformed Cambridge O Level candidates worldwide in Art, Bengali, Computer Studies, and Human and Social Biology. CIE received Cambridge O Level entries from over 80 countries during the last academic year, and so to achieve a Top in the World award is a terrific result for these students and their schools.

Sixteen Bangladeshi students gained more than 8 A grades at Cambridge O Level, including Md. Raihanul Islam from Oxford International School in Dhaka who scored an impressive 10 A grades. Cambridge O Level and International A/AS Level examinations are recognised and valued by universities and employers around the world, and so give students a solid foundation for further success.

The awards were presented at the Brilliance in Bangladesh ceremony by Charles Nuttell, Country Director of BC, Bangladesh, Guy Lane, Sales Director of CIE was also present at the ceremony. The students were also congratulated by Ian Chambers, CIE's Regional Manager for South Asia and Suzy Chowdhury, CIE's Regional Representative in Bangladesh. Suzy Chowdhury said: 'I am delighted to have this opportunity to congratulate students on their top exam performances. The popularity of Cambridge examinations is rapidly increasing in Bangladesh as schools and students seek out modern qualifications that are securely rooted in academic research.'.

Local importers increasing soyabean oil prices despite fall in int'l market

Our Correspondent

From Chittagong

Price of edible oil is still on the rise in the local markets without any justified ground.

However, a downward trend in the price of staple food rice is witnessed which has relieved the buyers a bit who have suffered a lot due to excessive price hike of this particular essential food item for the last few months.

Meanwhile, Khatunganj-based business sources described gradual rise in price of edible oil as a trick of the importers.

Price of soyabean oil rose to Tk 4,100 per maund while the price level of the same in the international markets is registering gradual fall. It has rather made the buyers community hostage in the hands of the importers.

With the abundant supply of winter vegetables, price of some vegetable items have in the meantime declined.

But the sudden rise in price of potato to Tk 20 per kg has rather stunned the general buyers. Prices of cabbage and cauliflower, two favourite items of winter vegetables, are now being sold at Tk 20 and 32 per kg respectively.

Rafia receives Gold Medal for scoring highest CGPA in BBA from IBA

Rafia Afrin, a student of 12th Batch of BBA programme of the Institute of Business Administration (IBA), University of Dhaka received gold medal for securing first position, scoring record CGPA at the graduation ceremony, held on November 28 last at the Bangladesh China Friendship Convention Centre (BCFCC).

Prof SMA Faiz, Vice-Chancellor of the University of Dhaka gave away the medal and certificates among the successful students, while Syed Abu Naser Bukhtear Ahmed, Managing Director and CEO of Agrani Bank was present on the occasion as special guest.

Dr. Mohammad Zeaulhaq Mamun, Director, IBA presided over the ceremony.

Rafia, a brilliant student althrough scored record CGPA and stood first in her batch. She received 'A' grades in all her 'O' and 'A' level examinations and scored world highest number in Accounting in 'O' level examination.

Rafia Afrin is the eldest daughter of Editor, The Bangladesh Monitor Kazi Wahidul Alam and Tahera Wahid.

Value Week & Pitha Fest begin: Agora offers fresh fish, veg at unbelievable prices

Agora, country's pioneering and largest superstore, has this time brought fresh fish directly from Bhairab and Mawa and winter vegetables from self-managed farms to put an end to the concern of consumers over freshness.

All these fresh items are available at all the four Agora outlets at prices of the sources, as there is no intervention of middlemen in bringing them to the shops. Ruhi weighing up to 3 kg is being sold at taka 145 per kg, Katla at taka 125, Nola at taka 110, Tilapia weighing 500 gram each at taka 120 only. Cauliflower is on offer at taka 13 each, cabbage at taka 12, bean at taka 19 a kg, new potato at taka 35.

Meanwhile, Value Week, the most popular promotional campaign of Agora, began on Thursday (November 27) at all its outlets. During the eight-day promotion, customers purchasing products worth taka 1000 can buy loose minicate rice at only taka 29 per kg. Besides, the customers will get taka 20 off in purchasing a five-kg pack of premium minicate rice, taka 10 off in two-kg pulse, and half kg onion free for purchasing five kg of the item. Greenfield brand sugar is being sold at taka 35 a kg.

Simultaneously with the Value Week, a pitha (cake) festival is going on at Agora where different varieties of pitha are available.

Apollo Hospitals signs deal with Covanta Bangladesh Operating Ltd

Apollo Hospitals Dhaka has recently signed a corporate agreement with Covanta Bangladesh Operating Ltd to provide medical services and special corporate benefits to their employees.

Dr Shagufta Anwar, General Manager, Business Development of Apollo Hospitals Dhaka and AHM Nasimullah, Managing Director, Covanta Bangladesh Operating Ltd signed the agreement on behalf of their organizations. Senior executives of both organisations were also present.