The New Nation - Internet Edition

Vegetables prices starts reducing in N-dists

BSS, Rangpur

Prices of vegetables is falling gradually in the markets of northern region weeks due to arrival of huge quantities of early varieties of winter vegetables in the recent weeks, competent sources said. Farmers and officials of Department of Agriculture Extension (DAE) are expecting a bumper production of winter vegetables in the region. Per kg average prices of all varieties of vegetables are now varying in between Taka 6 and Taka 15 against the average prices of Taka 20 and Taka 40 a month ago, officials and market sources said.

The local markets are now flooded with different early varieties of 'sak', brinjal, 'shosha', potatoes, cauli flower, corolla, cabbage, radish, 'gajor', tomato, arum roots, 'borboti', bean and other vegetables.

Tomato is now selling at Taka 15 per kg against Taka 80 per kg a month ago.

Officials said the DAE, BARI, BADC and many NGOs had supplied adequate quality seeds, other agro-inputs and provided necessary technical assistance to the farmers.

The DAE has fixed a target producing 15 tonnes of all varieties on per hectare of land, the sources said.

It has fixed a production target of 18,52,500 tonnes different varieties of vegetables on 1,23,500 hectares of land in all 16 districts under two agriculture zones in the northern region during this season.

However, the farmers are expected to bring more land than the fixed target under vegetables farming in the region including the vast tract of char areas in the river basins to achieve a bumper production, the sources added.

Emirates' non-stop green flight to San Francisco arrives to warm welcome

Dubai, UAE, - Emirates, one of the world's fastest-growing international airlines, 16th December 2008 marked the arrival of flight EK225, its first non-stop service between Dubai and San Francisco, at San Francisco International Airport (SFO).

At a media briefing held after the arrival of the flight, Sheikh Ahmed bin Saeed Al-Maktoum, Chairman and Chief Executive Emirates Airline and Group was joined by Steve Kava, San Francisco Mayor's Chief of Staff, and San Francisco International Airport Director John Martin.

"Emirates promises Bay Area travellers and businesspeople an opportunity to reach Dubai and key transit markets including the Indian Subcontinent and Africa easily and more quickly than ever before," said Sheikh Ahmed.

"This new service from SFO creates a critical new connection between Northern California and Dubai - a destination for business and tourism unlike any other in the world. We look forward to contributing a significant, positive economic impact for San Francisco and its surrounding region with our new service," he added.

The arrival of Emirates Airline to San Francisco will facilitate incoming tourism and business traffic, bringing in travellers from the Middle East, Indian Subcontinent and Africa; creating new jobs in the Bay Area while generating state and local tax revenue, and business revenues. The non-stop air link will also help the growth of trade between California and the UAE which in 2007 saw close to $950 million worth of exports from the US state to the UAE.

"The arrival of Emirates Airline to San Francisco is an economic boon for the city of San Francisco," said San Francisco Mayor Gavin Newsom. "Emirates' new route will bring new jobs and revenue to San Francisco, while creating a vital new corridor for business and tourism between the Bay Area and Dubai. It's my pleasure to welcome Emirates to San Francisco."

"The greater the global connections the greater the success for regions like the Bay Area and Dubai in the new global economy," said Jim Wunderman, President and CEO of the Bay Area Council. "The Bay Area has the fourth highest concentration of Forbes 2,000 Global Companies and 645 foreign-owned company subsidiaries. In uncertain times, the Bay Area needs the economic stimulus and expansion of business opportunities this launch represents." Emirates' inaugural flight was a dual milestone of commencing services between two great cities and demonstrating the best the airline industry can offer in environmental efficiency. The first Dubai-San Francisco non-stop service marked the world's longest green flight, on which Emirates employed multiple eco-efficient initiatives to save fuel and emissions.

Emirates has made a multi-billion-dollar investment in new, eco-efficient aircraft, and on its San Francisco route it will deploy the state-of-the-art Boeing 777-200LR. Emirates worked closely with government agencies in Dubai, Iceland, Russia, Canada the United States and other countries to plot the most environmentally-conscientious trip possible to save approximately 2,000 gallons of fuel and 40,000 pounds of carbon emissions on the 16-hour direct service.

The 777-200LR is a member of the most fuel-efficient airplane family operating . Along with its unique ability to connect Dubai and San Francisco non-stop, the 777-200LR brings better environmental performance to destinations around the world. The aircraft's aerodynamic landing gear and twin engines also allow for a smaller noise footprint- as much as 25 decibels below the standard.

In one year, a fleet of 16 twin-engine aircraft powered by GE 90 engines will emit 141,000 fewer tons of greenhouse gas emissions than when using an airframe requiring four engines - this savings accounts for an area twice the size of Manhattan.

Emirates' Boeing 777-200LR offers 266 seats in a three-class configuration and provides up to ten tons of cargo capacity. Emirates will operate non-stop flights between San Francisco and Dubai three times a week - on Mondays, Thursdays and Saturdays - before increasing to daily service in May 2009.

Emirates Flight EK225 departs Dubai at 8:45 am and arrives in San Francisco at 1:00 pm local time the same day. The return route, Flight EK226, departs San Francisco at 4:45 p.m., arriving in Dubai at 7:25 p.m. the following day.

Toyota to suffer first full-year loss

AFP, Tokyo

Japanese auto giant Toyota is likely to suffer its first-ever operating loss in the year to March 2009 due to a stronger yen and a global industry slump, news reports said yesterday.

Toyota Motor Corp., which slashed its annual net profit forecast by more than half in November, is expected to downgrade its projections again at a year-end news conference on Monday, the Tokyo Shimbun said.

It would be Toyota's first operating loss since it began releasing earnings figures for the year to March 1941, the Nikkei business daily said. A Toyota spokeswoman declined comment on the reports, which did not identify their sources or provide figures. Toyota has for years enjoyed brisk sales and profits as strong interest in its fuel-efficient vehicles put it on course to overtake ailing General Motors as the world's top-selling automaker. But the Japanese auto giant has since said it is reviewing its expansion plans as the global crisis takes a heavy toll on the industry.

GM and Chrysler-two of Detroit's Big Three-are on the verge of collapse, while Japan's second largest automaker Honda Motor Co. this week sharply revised its growth forecasts.

In November, Toyota revised its net profit forecast to 550 billion yen in the current year, down from the 1.25 trillion yen previously projected. That would mark a decline of 68 percent from the previous year. Toyota also revised its operating profit forecast to 600 billion yen from its earlier estimate of 1,600 billion yen. Sales were newly projected at 25 trillion yen, down from 23 trillion yen forecast earlier.

But the news reports said Toyota would further downgrade its sales and earnings projections as the company was battered by a sharp decline in global auto sales and the yen's continued appreciation against the dollar.

IBBL opens SME service centres

Two more S.M.E. Service Centres of Islami Bank Bangladsesh Limited were inaugurated on 14 December Sunday at Charmuguria of Madaripur and Mahasthangar of Bogra.

Shashi Kumar Singh, Deputy Commissioner of Madaripur inaugurated the Sixth S.M.E. Service Centre of the Bank at Charmuguria of Madaripur. Presided over by Kazi Harun-arRashed, Chairman, Audit Committee of the Bank Devdas Bhattacharya, Police Super of Madaripur and Chowdhury Nurul Alam Babu attended the inaugural funcrion of the S.M.E. Service Centre as the Special Guest. The function was addressed by Dr. Abdus Samad, Member of Shari'ah Council and Lecturer of International Islamic University Chittagong, A.K.M Harunur Rashid, Executive Vice President and Zonal Head of Barisal and A.F.A Saiful Islam Incharge of S.M.E Service Centre, Charmuguria.

Ahmed Jamal, Acting General Manager of Bangladesh Bank, Bogra inaugurated the Seventh S.M.E. Service Center of the Bank at Mahasthangar of Bogra. Presided over by Moulana Zainul Abedin, Vice Chairman, Board of Directors of the Bank Abdullah Sazzad, Upazila Nirbahi Officer and Alhajj Fazlur Rahman Paikar, President, Chamber of Commerce and Industry of Bogra, were present in the inaugural function of the S.M.E. Service Centres as the Special Guests. The function was addressed among others, by Dr. Manzoor-e-Elahi, Member of Shariah Council and Assistant Prof. of National University, Mohd. Shamsul Haque, Deputy Managing Director and Shafiqul Mawla, Senior Vice President and Zonal Head of Bogra.

SJIBL opens SME service centre at Jatrabari

Shahjalal Islami Bank Limited (SJIBL) opened its 2nd SME Service Centre at Jatrabari, Dhaka on 18 December. Managing Director of the bank Muhammad Ali inaugurated the '-Jatrabari SME Service Centre". Among others, Deputy Managing Directors Md. Jillur Rahman and Md. Mukhter Hossain were present in the opening ceremony.

SJIBL Managing Director said that the bank extended financing support to the businessmen and industrialists to develop the socio-economic structure as well as country's economic growth.

He also said that the bank has been planning to invest in SME sector to develop the rural economy.

Southeast Bank opens 44th branch at Mouchak, Dhaka

Southeast Bank Limited expanded its network further by opening its 44th Branch at Mouchak, Dhaka on December 15. M. A. Kashem, former Chairman and current Director of the Bank formally inaugurated the Branch. In the inaugural function, among others, Azim Uddin Ahmed, Former Chairman and current Director, Jusna Ara Kashem, Duluma Ahmed and Syed Shahid AIi, Directors, Rehana Rahman, former Director, Moulana Abdul Hakim Azadi, Member of the Bank's Shariah Council, Neaz Ahmed, Managing Director, Bank's senior executives, local elites, businessmen, shop owners, industrialists, Govt. officials, educationists and professionals were present.

In his speech, M. A. Kashem traced the history of the establishment of the Bank and its development over the years as a modern banking institution of Bangladesh. He emphasized the need for honesty, sincerity, accountability and religious values in the discharge of duties. In his speech, Azim Uddin Ahmed said that the main objective for opening of the Branch is to render modern Banking facility to the customers of the aristocratic Mouchak area with the help of latest technology. In his address of welcome, Neaz Ahmed, Managing Director, highlighted the Bank's overall performance over the years and urged the local people to avail modern banking facilities from the Branch, M. Kamal Hossain, Head of the Branch offered vote of thanks in the function.

The inaugural programme ended with a dua-mahfil at the Branch premises seeking divine blessing for the well-being of the Bank. "

EBL opens 31st Branch at Gazipur Board Bazar

Eastern Bank Ltd. (EBL) has opened its 31st branch at Board Bazar, Gazipur. EBL Managing Director & CEO Ali Reza Iftekhar formally inaugurated the newest member of EBL's growing branch network today (December 18).

The new branch in addition to regular banking facilities will also offer ATM service, Online Banking, SME Banking and other modern banking services to the customers.

EBL DMD Mamoon Mahmood Shah, Head of Administration Major Abdus Salam psc (Retd.), Consumer Banking Area Head Md. Saad Ullah, Head of Marketing Nazeem A. Choudhury, Senior EBL officials and local dignitaries attended the inaugural programme.

DBBL accomplished Eye Camp for Cataract Patients in Khulna

Dutch-Bangla Bank Limited accomplished a 3- day-long eye camp for the poor and aged cataract patients in Khulna Divisional Town on December 14, 15 & 16. About 100 cataract patients have been operated successfully at this eye camp. Md. Yeasin AIi, Managing Director of the bank visited the operation camp and inquired about the operated cataract patients at Abdul Wadud Memorial Hospital, Khulna on December 15.

It needs be mentioned that as a part of the philanthropic activities for the distressed humanity, DBBL has taken a noble initiative of operating 12,000 cataract patients across the country, specially the rural poor who have no means to undertake cataract operation by themselves.

Social Investment Bank, Lotus Forex Hong Kong sign remittance deal

Social Investment Bank limited (SIBL) and Lotus Forex Hong Kong have entered into an Electronic Fund Transfer (EFT) deal. SIBL Additional Managing Director Abu Sadek Md. Sohel and Lotus Remittance Manager Ms. Jayati Chakraborty signed the agreement on behalf of their respective organisations in a simple ceremony held in Hong Kong on 17. Lotus Forex Chief Executive Officer Kashinath S. Rao, Vice President Y. C. Hegde and others were present on the occasion. Through Lotus Forex SIBL will collect Remittance from the expatriates living in the UK, Singapore, Hong Kong and Australia.

Vietnam state bank says to lower interest rate to 8.5 pc

AFP, Hanoi

The State Bank of Vietnam said yesterday it will lower its benchmark interest rate from 10 to 8.5 percent from Monday to help businesses overcome the tough economic climate. It will also help expand credit for production, imports and exports of essential goods, while small and medium sized enterprises, including those in the real estate business, will "be able to settle their due debts", the bank said in a statement on its website. Earlier this year, the bank raised its benchmark rate several times, from 8.25 percent to 14 percent, to fight double- digit inflation. Then in late October it started cutting rates again to free up credit. Vietnam, a major exporter of manufactured goods such as clothing and footwear and commodities including rice, coffee and seafood, has already been hit by downturns in the United States, Europe and other markets. Inflation has started to ease, falling to 24.2 percent year- on-year in November after having topped 28 percent in August. Communist Vietnam is aiming at economic growth of around 6.5 percent this year and next year, down from 8.5 percent in 2007. According to Friday's statement, the bank will cut the refinancing rate to 9.5 percent from 11 percent and the discount rate by 1.5 percent to 7.5 percent.

Overnight interest rates for payments on the inter-bank market will be reduced to 9.5 percent from 11 percent.