The New Nation - Internet Edition

Banks urged to provide shipbuilding sector easy access to loan: Commerce Adviser inaugurates keel-laying of 12 ships of Western Marine

NATION BUSINESS REPORT

Adviser to the Ministry of Commerce Dr. Hossain Zillur Rahman on Tuesday) said the commercial banks should give the ship building sector easy access to loan to ensure smooth growth of the industry.

Already playing a major contribution in country's export, the commerce adviser said shipbuilding industry would help turning Bangladesh into a middle income country in the near future since the country has all the infrastructures, required for the industry to grow.

"I firmly believe the shipbuilding sector will flourish further banking on our skilled manpower, natural infrastructures and following of international standard as well," said Hossain Zillur while inaugurating the keel-laying of 12 ships at the shipyard of Western Marine Shipyard Limited at Koalgaon Union under Patiya Upzilla in Chittagong as the chief guest.

After the inauguration, the commerce adviser along with the other guests visited the shipyard to see its shipbuilding facilities.

Earlier, Western Marine Limited, Bangladesh's leading Shipbuilding Company received an order worth $130 million (Tk 900 crore) from a German shipping company--Grona Shipping, to build 12 ships, each with a capacity of 5,200 tons. The ships are expected to be delivered to the German firm by 2011.

Two local banks-- AB Bank limited and City Bank Limited-- are financing the Western Marine to build the ships, a milestone in the history of domestic shipbuilding industry.

In his welcome speech, Chairman of Western Marine Shipyard Ltd Saiful Islam urged the government to come forward to help the sector gaining strong foothold in the competitive global shipbuilding market.

"Country's shipbuilding industry is growing rapidly in the international market through proper utilization of skilled manpower. But we need the support from the government to feel our presence strongly in the global market," said Saiful Islam at the programme.

He noted that the shipbuilding industry would be able to take a respectable position in the international market if adequate funds, infrastructural development and lands are made available along with combined effort from all quarters to develop human resources in the sector.

SK Motahar Hossain, Secretary of the Ministry of Shipping, Ms Bea M. Ten Tusscher, Ambassador of the Netherlands, Frank Meyke, Ambassador of Germany, and Kaiser A Chowdhury, President and Managing Director of AB Bank Limited were also present at the keel-laying ceremony as special guests.

Sprawling over a 20 -acre of land near Shikalbaha Power Plant at Kolagaon Union under Patiya Upazila, the Western Marine, aiming to take the domestic ship building industry to new heights, has received 'World Maritime Day Award 2007' in recognition of its contribution to ship building industry in the country.

6 banks to provide Tk 520m loan to NSU for establishing campus

NATION BUSINESS REPORT

A signing ceremony of consortium loan agreement was held on December 21 last at Radisson Hotel under the leadership of Janata Bank Limited.

Janata Bank along with Sonali Bank Limited, Agrani Bank Limited, Dutch-Bangla Bank Limited, NCCBL and Southeast Bank Limited are providing of Tk 520 million long-term finance for establishing the own campus of North South University (NSU).

Dr Hafiz GA Siddiqi, Vice Chancellor, NSU, SM Aminur Rahman CEO and MD of Janata Bank, SA Chowdhury CEO and MD of Sonali Bank, Syed Abu Naser Bakhtiar Ahmed CEO and MD of Agrani Bank, Md Yasin Ali, Managing Director of DBBL, Md Nurul Amin MD of NCCBL and Newaz Ahmed, MD of SEBL were present at the signing ceremony.

MA Awal, Chairman of NSU, Suhel Ahmed Choudhury Chairman of Janata Bank, Md Siddiqur Rahman, Chairman of Agrani Bank, Md Tofazzal Hossain, Chairman of NCCBL were also present. Other executives and officials of financial institutions and NSU were also present there.

DBBL awards fellowships to pursue higher degrees

Dutch-Bangla Bank Limited awarded fellowships to the scholars conducting researches in different fields of Social, Biological, Medical, Agricultural, Engineering and Natural sciences to pursue M.Phil, Doctoral and Post Doctoral degrees at a simple ceremony held at Hotel Purbani International, Dilkusha, Dhaka on December 22 last.

Under this fellowship programme, every scholar will get Tk 5000 per month for the entire period of his/her research programme.

Dr Salehuddin Ahmed, Governor, Bangladesh Bank was present as chief guest and awarded fellowships among the scholars.

Dr Salehuddin Ahmed lauded the fellowship programme of Dutch-Bangla Bank Limited and recalled other philanthropic activities of the bank.

He said with this fellowship the researchers would get encouragement in pursuing higher education within the country and contribute to the society.

He congratulated the awardees and stressed on blending research works with business and industry for economic development of the country.

Md Yeasin Ali, Managing Director of Dutch-Bangla Bank Limited in his address informed that Dutch-Bangla Bank Limited, over and above its regular financial activities, always reaches to the destitute of the country by way of carrying out a wide range of philanthropic activities. DBBL provides 1250 scholarships for the HSC and Graduate level students every year and in this regard the bank spends an amount of Tk 4 crore per year, he added.

Additional Managing Director of Dutch-Bangla Bank Limited AHM Nazmul Quadir delivered vote of thanks.

Among others, educationists, business personalities, industrialists, elite and clients of DBBL, KS Tabrez, Deputy Managing Director (Operation), Abul Kashem Md Shirin, Deputy Managing Director (Administration), Coordinator of Dutch-Bangla Bank Foundation Dr Mozammel Hossain Khan and other senor executives of the bank were also present at the function.

BTRC warns stern action against VoIP users, cancels a company's ISP licence

NATION BUSINESS REPORT

Bangladesh Telecommunication Regulatory Commission (BTRC) Tuesday warned stern action against licensed ISP companies who are involved in call transmission using VoIP technology in the country.

The BTRC said the illegal activities of the companies result in huge loss of revenue of the government, a press release said here.

The commission said that acting on tip-off, the committee formed under the section 16 of the Telecommunication Act 2001, found evidences of involvement of VIoP activities by some ISP installations. The committee instantly sealed the installations and filed FIR with the concerned police stations against the companies. They also issued show cause notices against the companies under the Telecommunication Act 2001, the release said. The BTRC also took decision to cancel the ISP licence of Maisha Technologies Limited, as they could not provide satisfactory reply of the notice, it said.

Besides, the cancellation of ISP licence of some other companies are also under process for the same allegations against them.

The commission said they would continue drive against the illegal use of VoIP and urged the people not to receive any service from those companies, the release said.

Vietnam to earn $63bln from goods exports

XINHUA, Hanoi

Vietnam's goods exports turnover is expected to reach nearly 63 billion U.S. dollars in the entire year 2008, an increase of 29.5 percent over the 2007's figure, the local newspaper Vietnam Investment Review reported yesterday.

The goods exports figure in 2008 presents the highest growth in goods exports since 2004 despite some difficulties by the global economic crisis, said the ministry. In December alone, the import-export turnover reached over 4 billion dollars, according to the Ministry of Planning and Investment. Vietnam's import turnover in 2008 is expected to reach nearly 80 billion dollars, representing an increase of 27.5 percent compared to that of 2007.

Tk 44 crore for Chandpur town protection scheme

BSS, Chandpur

The government has sanctioned Taka 44 crore for Chandpur town protection scheme during the current season.

Bangladesh Water Development Board Chandpur office sources said 2,700 metre area at Natun Bazar and Puranbazar of Chandpur town will be protected by dumping blocks in the river Meghna. So far, 2,10,000 RCC blocks were dumped in the erosion area. About eighty per cent works of the scheme have been completed and the rest are expected to be completed by June 2009.

The work of Haimchar upazila protection scheme will begin from next financial year.

Seminar on 'Challenges of a Lawyer' held at SEU

The Department of Law and Justice of Southeast University arranged a discussion programme on 'The Challenges of a Lawyer' on December 23 last in the Seminar Hall.

Eminent lawyer Barrister Rafique-ul Huq, senior advocate of the Supreme Court of Bangladesh was the chief guest while Vice Chancellor Dr M Shamsher Ali presided over the function. Prof Abu Ahmed, Pro-Vice Chancellor of Southeast University was special guest.

In his speech, Barrister Rafique-Ul Huq narrated the early struggling days of his career. He told the audience that hard work and deep sense of responsibility were the keys to success for a young lawyer.

He also mentioned that there was no shortcut way to succeed in legal profession.

In answering to the questions regarding the non-party caretaker government, emergency situation, anti-corruption commission Barrister Rafique-UI Huq gave his opinions.

Vice-Chancellor Prof Dr. M Shamsher Ali in his speech requested the chief guest to take steps in relation to legal aid and ensure access to justice for the poor people of the country.

Prof Dr Syed Masud Husain, Dean of School of Business Studies, Prof Dr Abul Kalam Azad, Dean of School of Arts and Social Sciences, Prof Dr RI Sharif, Dean of School of Science and Engineering, Md Asaduzzaman, Chairman Department of Law & Justice and other faculty members were present.

Zafrin Andaleeb, Lecturer of the Department of Law and Justice conducted the programme.

Japan govt okays record budget for next year

AFP, Tokyo

Japan's government on Wednesday approved a record 88.55 trillion yen (980 billion dollar) budget for fiscal 2009 in a bid to revive Asia's biggest economy, which is slipping deeper into recession.

The cabinet of Prime Minister Taro Aso at a morning meeting formally adopted the budget for the year starting in April, officials said.

The general-account budget comes to an all-time high of 88.55 trillion yen, up 6.6 percent from the initial fiscal 2008 budget, as issuance of new government bonds soars 31.3 percent to 33.29 trillion yen.

The spending increase reflects an emergency economic package that Aso announced earlier this month in a fresh bid to stave off a prolonged recession in the world's second-largest economy. Japan's already debt-ridden state coffers would worsen, with the outstanding balance of government bond issues reaching a record 581 trillion yen at the March 2010 end of the fiscal year. The budget will be submitted to parliament in January.

If approved, outlays for foreign aid would fall 4.0 percent while defence spending would edge down 0.1 percent.

Oil prices slide under 40 dollars on stubborn demand concerns

AFP, London

World oil prices fell Tuesday below 40 dollars a barrel in thin pre-Christmas trade, as traders eyed weak energy demand arising from a global economic downturn. Light sweet crude for delivery in February delivery shed 1.58 dollars to 38.33 dollars a barrel on the New York Mercantile Exchange (NYMEX). The price of Brent North Sea crude for February sank 1.75 dollars to 39.70 dollars per barrel on London's InterContinental Exchange (ICE).

Both contracts had fallen by about 2.5 dollars on Monday as the market was also plagued by weakening world demand for energy. Losses accelerated Tuesday after confirmation that the American economy-the world's biggest crude oil consumer-contracted by 0.5 percent in the third quarter of the year. The abrupt contraction of gross domestic product (GDP) in the world's largest economy was seen as marking the start of a steep downturn for the United States after GDP growth of 2.8 percent in the second quarter.

"Crude oil markets were lower (on Tuesday) in generally thin conditions amid continuing news of lower global demand," said analyst Nimit Khamar at the Sucden brokerage in London.

Vietnamese rice export reaches over $2.5 bln

XINHUA, Hanoi

Vietnam has exported close to 4.5 million tones of rice, earning over 2.5 billion U.S. dollars so far this year, the local newspaper Labor reported yesterday.

In December alone, the country's rice exporters made shipment of 234,893 tons of rice, valued over 100 million dollars, according to the Vietnam Food Association (VFA). The Vietnam's Ministry of Industry and Trade forecast the rice demand in 2009 from foreign importers will increase by 1 percent compared to that of 2008.

According to the Ministry of Agriculture and Rural Development, rice is Vietnam's fifth largest foreign currency earner, accounting for 20 percent of the total export turnover of the agro-forestry-seafood group.

IDCOL signs deal to finance Int'l Gateway Services project

IDCOL signed a dollar loan agreement with Bangla Trac Communications Limited for setting up International Gateway (IGW) Services in Dhaka.

Under the agreement, IDCOL will provide US$3 million financing to the project.

Brac Bank Limited is the other lender to the project that extended a loan of Tk 610 million. BTCL, as one of the four licensed operators of IGW, routes incoming and outgoing international calls to and from Bangladesh. The IGW of BTCL which has a capacity of handling 20,000 concurrent calls at a time, supports voice call services, both clear channel and VoIP.