The New Nation - Internet Edition

Import marks 10.46 percent rise in five months this fiscal

NATION BUSINESS REPORT

The country's imports during the first five months of current fiscal (July to November 2008) totaled to US$ 9,771.13 million, against US$ 8,845.66 million in the same period of last fiscal, indicating a rise by US$ 925.47 million or 10.46 percent.

The increase in imports was mainly due to rise in import of sugar by 58.50 percent, onion by 34.50 percent and chemical fertilizer by 123.52 percent, a Bangladesh Bank release said.

During the five months, import of rice totaled to US$ 10.06 million, while it was US$ 333.56 million for wheat, US$ 112.09 million for sugar, US$ 85.81 million for onion. The value of letter of credit (LC) opened during the period for import of edible oil amounted to US$ 381.47 million, of which US$ 377.41 million for crude oil and the rest US$ 4.06 million for refined oil.

The import of pulse was US$ 20.49 million, while it was US$ 42.78 million for milk food and US$ 42.01 million for fresh fruits and dry fruits.

Import of textiles fabrics and accessories for garments during the period amounted to US$ 1,358.50 million, while it stood at US$ 547.09 million for raw cotton and synthetic fibre, US$ 295.38 million for cotton, synthetic and mixed yarn.

The value of imports of drugs and medicine during the period under review amounted to US$ 29.24 million, while US$ 112.59 million for pharmaceuticals raw materials.

Country's import of petroleum, oil and lubricants in five months under review amounted to US$ 1,112.44 million, while that was US$ 1,335.44 million (US$ 835.70 million for fertilizer and US$ 499.74 other items).

The value of import of capital machinery during the said amounted to US$ 550.36 million, while US$ 744.30 million for miscellaneous industrial machinery, US$ 380.88 million for scrap vessels.

During the five months, the import of coal and coke amounted to US$ 20.97 million, cement to US$ 2.37 million, clinker and limestone US$ 91.83 million, CI sheets, BP sheets, GP sheets and tin plate to US$ 76.98 million and other items valued at US$ 1,932.02 million.

1,520 Bangladeshis to get jobs: Korean company to invest $9.996m in Chittagong EPZ

NATION BUSINESS REPORT

M/s Young An Hat (BD) Limited a Korean company will set up a cap manufacturing industry in Chittagong Export Processing Zone.

This 100 per cent foreign owned company will invest US$9.996 million to set up their unit and will produce hats and caps. The company will also create employment opportunity for 1,520 Bangladeshi and three foreign nationals.

An agreement to this effect was signed between the Bangladesh Export Processing Zones Authority and the M/s Young An Hat (BD) Limited in BEPZA Complex, Dhaka on January 4 last.

Prasanta Bhushan Barua, Member (Investment Promotion) of BEPZA and Kyoung Seb Shin, Director of M/s Young An Hat (BO) Limited signed the agreement on behalf of their respective organizations.

Brig General Jamil Ahmed Khan, Executive Chairman of BEPZA and other officials from respective organizations were present on the occasion.

Cooperative-based loan activities to be intensified: BCBL Chairman

BSS, Rangpur

Chairman of Bangladesh Cooperative Bank Ltd (BCBL) Abdul Latif has said that cooperative-based loan disbursements would be intensified to save the innocent farmers and common people from the clutches of illegal 'mohajans'.

He also said that a branch of the BCBL will be set up soon at Pirganj upazila town in Rangpur with a view to ensure welfare of the farmers and common people and save them from the hands of rural 'mohajans'.

He made this comment while exchanging views with the cooperative farmers and common villagers at Pirganj upazila parishad auditorium here on Sunday.

Chaired by UNO of Pirganj upazila Abu Shaheen Mohammad Asaduzzaman, the occasion was also addressed by General Manager of the BCBNL Shameem Reza and president of Pirganj Press Club Moksed Ali Sarker and cooperative farmers.

The BCBL chairman also said that the farmers and rural people must be saved from the huge interest-realizer 'mohajans', who provide loans and realizes huge and abnormally higher interests making the farmers and common people total losers.

The BCBL has been intensifying cooperative-based loan distribution activities with a view to ensure wellbeing of the farmers and rural people throughout the country, he said.

Branch managers conference held at PBL

NATION BUSINESS REPORT

The 2nd Branch Managers' conference-2008 of Chittagong Region of Pubali Bank Limited held at General Manager's Office, Chittagong recently. Managing Director Helal Ahmed Chowdhury was present as chief guest while General Manager & Chief Financial Officer A.T.M. Hasanuzzaman present as special guest. General Manager of GM Office, Chittagong Mohammad Firoz Khan presided over the the conference.

In his speech chief guest Helal Ahmed Chowdhury stressed on selection of potential borrower and try to enhance bank business. He emphasised on recovery of overdue, classified and write off loan on priority basis. He advised Regional head and Branch manager to keep close vigilence so that newly disbursed loans may not become overdue or classified by intensive supervision and close monitoring of the loan. He advised all to work hard to increase remittance rendering best customer services.

He underscored the need for increased utilisation of the modern Information Technology for qualitative improvement in the overall customer service of PBL as the bank has to operate in a highly competitive Banking sector.

Managing Director impressed upon the officials to increase overall foreign exchange business in order to cope with the changes in the environment of the global banking sector. He emphasised to explore and expand foreign exchange business by maintaining regular contacts with the importers and exporters and applying modern IT solutions in order to keep the pace of advancement of business in the present competitive scenario. He advised all officers to abide by the rules and regulations of Bangladesh Bank and other regulatory bodies.

GM Mosharaf Hossain, Regional head of Chittagong North Region Sirajul Islam Mia, Regional head of Chittagong South & Hill Track Region Jiban Krishna Biswas and Branch Managers of Chittagong North, South & Hill Track Region were also attended at the conference. Performance of the branches also evaluated in the meeting and necessary strategy and plans were taken to achieve the target fixed for the year 2009.

BRDB disburses Tk 34.5 crore in Naogaon

BSS, Naogaon

Bangladesh Rural Development Board (BRDB), Naogaon has disbursed about Taka 34,54,51,000 as short term loan among the small and marginal farmers of 11 upazilas in the district during the last five years.

The upazila wise loan disbursement was in Sadar upazilla Tk 1,87,76,000, in Atrai upazilla Tk 3,87,65,000, in Raninagar upazilla Tk 73,11,000, in Manda upazilla Tk 5,38,95,000, in Porsha upazilla Tk 2,83,69,000, in Badalgachi upazilla Tk 87,38,000, in Mohadevpur Upazila Tk 3,81,32,000, in Niamatpur upazila Tk 6,98,37,000, in Patnitola upazilla Tk 4,44,00,000 and Dhamoirhat upazilla Tk 96,03,000.

4,49,216 tonnes of Boro paddy to be produced in Gaibandha

BSS, Gaibandha

The government has taken up a massive plan to produce 4,49,216 tonnes of paddy by cultivating 1,12,645 hectares of land in all the seven upazilas of the district during the current Boro season.

Department of Agriculture extension (DAE) sources said of the total paddy 1,63,560 tonnes of hybrid variety (HV) 2,84,296 tonnes of high yielding variety (HYV) and 1,360 tonnes of local variety (LV) would be produced this year. Upazila wise breakup of targeted Boro paddy production is as follows: 27,025 tonnes of HV, 42,066 tonnes of HYV and 170 tonnes of LV in Sadar upazila, 28,200 tonnes of HV,31,144 tonnes of HIV and 68 tonnes of LV in Sadullapur upazila, 15,040 tonnes of HV, 30,627 tonnes of HYV and 17 tonnes of LV in Palashbari upazila, 45,120 tonnes of HV, 74,907 tonnes of HYV and 85 tonnes of LV in Gobindaganj Upazila, 33,840 tonnes of HV, 46,863 tonnes of HYV and 170 tonnes of LV in Sundarganj upazila, 11,280 tonnes of HV, 38,007 tonnes of HYV and 425 tonnes LV in Saghata upazila and 3,055 tonnes of HV, 20,682 tonnes of HYV and 425 tonnes of LV in Fulchhari upazila.

Special measures have already been taken by the DAE, BADC and BMDA to increase the production of paddy by bringing move land under this programme for the country's food security. Meanwhile, farmers have started planting early variety of Boro seedlings to achieve a record production target fixed by the DAE.

Deputy director of DAE ANM Mizanur Rahman Amin said special emphasis has given on the using of the latest agri-technologies and quality hybrid seeds this year to help the farmers achieve the target and even exceed it this season.

Grameenphone Ltd. distributes blankets in worst affected districts

Concerned over the prevalent cold weather, Grameenphone Ltd. has distributed blankets in Rangamati District on January 3.

This is part of the nationwide blanket distribution program in worst affected areas of Dhaka, Rajshahi, and Chittagong division, which was initiated at the end of 2008. At Rangamati Grameenphone distributed 2000 blankets.

Grameenphone partner NGO, Thengamara Mohila Shobuj Sangha (TMSS) and the local Government, provided support during the event.

Mr. Abdullah AI Mamun, Assistant Commissioner, Rangamati District, Mr. Mohammad Aulad Hossain, Regional Head of Sales, Chittagong, Grameenphone and Mr. Shafquat Hossain, DGM, Corporate Social Responsibility, Grameenphone were present during the distribution program. In addition other employees from the regional office of Grameenphone and teachers from local schools voluntarily participated in the distribution program.

Earlier, as part of the program, Grameenphone distributed 6500 blankets in five districts of Rajshahi division in December 2008, namely, Lalmonirhat, Kurigram, Gaibandha, Chapainawabganj and Sirajganj.

As a responsible corporate citizen, Grameenphone always extends its support to the affected, vulnerable people during trying times due to natural calamities, be it flood, storm surge, cold wave, or landslide. Earlier in 2008, Grameenphone distributed blankets in different SIDR affected areas of Barisal and Khulna districts. In 2007 during the severe cold snap, blankets and winter clothes were distributed in all 6 administrative divisions. During the devastating cyclone SIDR in 2007, Grameenphone initiated emergency relief efforts in eight worst affected areas and made monetary contribution to the Chief Advisor's relief fund too. As part of its rehabilitation plans in the SIDR affected areas, the construction of 4 education center-cum-cyclone shelters is currently undergoing in the southern belt of the country. During the floods in August and October 2007, Grameenphone donated BDT 43.1 million to Chief Advisor's Relief Fund and undertook emergency relief activities as well.

Annual Sales Conference of sanofi-aventis

The annual sales conference of sanofi-aventis Bangladesh was held on Saturday, 03 January 2009 at Radisson Water Garden Hotel Dhaka. The daylong conference was inaugurated by the Managing Director of sanofi-aventis Bangladesh, Mr. Iftekharul Islam.

Chris Viehbacher, the new global CEO of sanofi-aventis, greeted the employees through a video message at the inaugural of the conference. Iftekharul Islam presented the global and local success stories of sanofi-aventis Bangladesh during the year 2008 and plans for 2009 in his inaugural remark. Mr. Islam also made presentations about the worldwide presence, performance data, R&D expenditure, rich pipeline of new molecules of sanofi-aventis.

He highly acclaimed the colleagues who attended the conference from different parts of the country. The acclaim was well deserved as the sales force has worked very hard in ensuring high quality sanofi-aventis drugs in the complex field of cancer, diabetes and heart and infectious disease, pain management and also working hand in hand with the physicians' community. He also stressed the need of newer molecule and urged the Medical and Marketing officials to enhance the distribution of the new drugs.

The Annual Sales Conference was also addressed by Sheikh Nahar Mahmud, Director Business Operations, M Nasiruddin, Director Business Support and other Senior Managers and Directors. After the workshop and breakout sessions the conference concluded with rewarding the best performers among the sales force. Iftekharul Islam, Managing Director gave away the awards to Best and Star performers for their praiseworthy achievements in the year 2008.

About sanofi-aventis

Sanofi-aventis, a leading global pharmaceutical company, discovers, develops and distributes therapeutic solutions to improve the lives of everyone. Sanofi-aventis is listed in Paris (EURONEXT: SAN) and in New York (NYSE: SNY).

Taka 2,319.60 cr bids accepted at Repo auction

NATION BUSINESS REPORT

Six bids of one-day tenor worth Taka 2,319.60 crore were accepted at the Repo auction of Bangladesh Bank for commercial banks and financial institutions held Sunday.

At the auction, six bids of one-day tenor worth Taka

2,899.50 crore and two bids of seven-day tenor worth Taka 185.00 crore were offered, said a Bangladesh Bank press release. Meanwhile, three bids of one-day tenor worth Taka 205.50 crore were accepted for liquidity facility of primary dealers. The rate of interest of Repo and liquidity support facility was 8.75 percent per annum.

The study tour of Regulatory Reform Core group to South Korea

With the purpose of enhancing the overall regulatory reform agenda in Bangladesh IFC Bangladesh Investment Climate Fund (BICF) in association with Bangladesh Enterprise Institute (BEI) and the Institute of Governance Studies (IGS) is undertaking a program titled Regulatory Reform Core Group (RRCG). RRCG is a specialised experiential learning program whose primary objective is to encourage selected individuals (mid-level government and private-sector officials) to become proactive change against in identifying some of the major areas for possible regulatory impact assessment intervention in Bangladesh. In this connection 3 Regulatory Impact Assessment (RIA) Working Groups were formed. The RIA Working Groups visited several Government Offices & Private Sector Organisations to gather practical knowledge on how those organisations are dealing with respective RIA issues in Bangladesh.