The New Nation - Internet Edition

Rice prices set to surge again this year: rice experts

AFP, Manila

Rice prices are likely to rise sharply for the second straight year in 2009 as the global economic slowdown hits farmers and consumers alike, the International Rice Research Institute warned yesterday.

The worldwide credit crunch will make it hard for farmers to secure cash to purchase essentials such as seeds and fertiliser, the Philippines-based body said in the latest edition of its quarterly journal "Rice Today".

At the same time, it added, the economic downturn may increase demand for rice in developing nations as falling income forces poor people to switch back to less expensive staples.

The price of rice-a staple food for half the world including nearly 700 million poor Asians-spiked to 1,080 dollars a tonne last April, triggering fears of social unrest.

It slid to about 575 dollars six months later due to record production and the early effects of the economic slowdown.

However, the institute warned, "production uncertainty due to tight credit and declining rice prices combined with strong demand growth points to another rise in rice prices in the coming months.

"Price volatility will remain high."

Even if they had the cash, farmers burned by the sudden plunge in commodity prices "will likely play safe and reduce input for their 2009 crops."

The institute pointed to a decision by the Philippines government to lower its 2009 rice output estimate by almost four percent, and said a similar move from other rice producers "is likely in the near term."

While global rice output reached record levels for each of the last four years, this was achieved through increased acreage and obscured the key issue of declining growth in rice yields owing to reduced agricultural investments since the early 1990s, the IRRI said.

As the world consumed more rice than it could produce in five of the last seven years, it forced governments to dip into their reserves to make up the shortfall.

Historic low levels of rice stocks contribute to the volatility, it added.

While rice prices have dropped from their 2008 peaks, the IRRI said, "they are still high relative to 2007 levels, and are likely to remain too high for millions of poor. "If the yield growth rate does not improve, we can expect rice prices to continue to rise, and at a faster pace than that seen since prices started moving up in 2000.

Holcim arranges 'Holcim Family Time' at Cox's Bazar

Holcim (Bangladesh) Ltd the leading cement company in the country recently arranges "Holcim Family Time" at Cox's Bazar. Holcim always consider the dealers as a channel partners and family members of its big family as well. "Holcim" took the opportunity for families to spend time together and plan their Eid break with the world's longest natural sandy sea beach, Cox's Bazar. "Holcim" believes that the true value of spending time together will achieve a strong bondage within the family members.

Holcim having its operations in more than 71 countries started its business in Bangladesh since 2000. Cement market is the fastest growing Industry in the country and Holcim (Bangladesh) Ltd is at the forefront of the construction. From the very beginning Holcim brought its product to every district around the country and fulfilled its family from every corner of the country.

To ensure most satisfaction for the Holcim family members Holcim (Bangladesh) Ltd arranges the best entertainment package for the members to enjoy their holiday.

The members were received with a grand, gracious reception at the beach hotel, 'Prashad Paradise", and were entertained with outdoor activities like beach football, Baloon Shooting and many interesting events for the adults and for the children as well. They enjoyed the indoor entertainments like "Holcim Family Night" which was organized by various activities and performances made by family members.

"Holcim" the worlds leading cement company, took the opportunity to celebrate the 38th independence day of Bangladesh with its family through a gathering at the "Sea Palace" Ball Room on December 16th. The independence celebration night started with the National anthem and was entertained with magic show by the renowned magician Mr. Ulfat Kabir and Mrs. Rooksana Kabir. Cultural program was organized for the Holcim family.

With a view to increase the bondage between the family members, the outgoing Managing Director Mr. PN Iyer & the upcom ing Managing Director Mr. Rajnish Kapur along with all the exco member of the Holcim Bangladesh Ltd were present and enjoyed all the events and share the pleasure amongst the Holcim family members. Mr. Jashim Uddin Khandaker, GM Customer Care took the initiative to arrange the program and worked hard all through the program to make it successful.

Ms. Farah Shahrookh Raza, Manger - Brand Support and her team was in the forefront to execute all the steps to make the program successful.

DBBL holds managers' conference

The 151 Managers' Conference-2009 of Dutch-Bangia Bank limited was held on January 09 at a city hotel, Dhaka to review the Bank's performance of the year 2008 and discuss the business plan for 2009.

The Conference was presided over by Md. Yeasin Ali, Managing Director of the bank. In addition to 64 Branch Managers, the meeting was attended by AHM Nazmul Quadir, Additional Managing Director, K. S. Tabrez, Deputy Managing Director (Operation), Abul Kashem Md. Shirin, Deputy Managing Director (Administration), Divisional Heads and senior executives of Head Office.

In his address, the Managing Director critically analyzed the business performance of the bank for the year 2008 and congratulated the concerned Managers and their collogues in their respective branches who have achieved their targets and at the same time, he expected that the Managers who have not been able to achieve the respective targets, will try their outmost to achieve the targets set for the year 2009.

He exhorted the branch Managers and divisional heads to put in their all out efforts for achieving the overall targets of the bank set for the year 2009.

He stressed on increasing fee-based and commission income. He specially emphasized on securing low-cost deposits by opening the targeted number of SB A/C, Current A/C, SOT A/C and alike by taking advantages of the largest On-line banking network as well as the unique image of the bank.

Additional Managing Director asked the Branch Managers to develop relationship with the customers and urged them to lay more emphasis on increasing business volume, diversification of banking products and expanding non-funded business for achieving the targets of 2008.

K. S. Tabrez, Deputy Managing Director (Operation) and Abul Kashem Md. Shirin, Deputy Managing Director (Administration) also spoke on the conference.

Every branch Managers while expressing their problems and prospects critically analyzed the pros and cons of their respective budget and firmly confirmed to achieve the budgetary target for the year 2009.

Garment and Knit Technology Tradeshow begins Jan 13

The Biggest Garment and Allied Machinery Technology Show "Zak Garmentech Bangladesh" from January 13-16 next in Dhaka.

Over 250 companies from 30 countries to participate in the trade show.

8th International Garment & Allied Machinery and Accessories trade show is going to be held on 13-16 January 2009 at Bangladesh China Friendship Conference Centre Dhaka. Zakaria Trade and Fair International of Bangladesh and Zak Trade Fairs & Exhibitions Pvt. Ltd. of India is jointly organising this mega event attracting more than 250 intematienal companies all over the world and expecting draw attention of more than 30000 visitors from Dhaka & neighboring region. ZAK Garmentech Bangladesh has emerged as the premier International Apparel Technology Trade Show of Bangladesh. It has served as an ideal platform for the Bangladesh apparel industry to update and upgrade their technology.

Mr. Tipu Sultan, General Manager of Zakaria trade and fair international said "Our country's main export product is garments and this trade is rapidly progressing and modernizing. If we stand this trade is international market then we need new technology & for this reason the international apparel & technology fair Garmentech is held." More than 250 exhibitors of 30 leading Garments Technology manufacturing countries all over the world will attend with their latest technology related with sewing, knitting, Embroidery, Laundry, Finishing, Dyeing, Cutting Machines, CAD/CAM and leading Fabrics, Accessories and Support services sector. The main objective to organise this fair is to provide the Bangladesh garment industry a form to develop new alternate sources of suppliers, make new contacts and to discover and capitalise on the new opportunities that will be brought to the industry by means of this trade fair.

International seminar and workshop will be held with the participation of world famous technologist and consultants. It's a perfect meeting place for buyer and seller related with garments sector.

Producer, exporter & importer of world famous garments machinery" from USA, Europe, Canada, China, Japan, Germany, Italy, India, Korea will participate in the trade show which had already been conformed to the organizer. Joint venture investment will get preference in the workshop. This technology fair for the first time can accommodate more than 250 exhibitors, all leading names in the respective field under one roof, making it the largest technology trade fair in Bangladesh beating out own record.

GARMEN-TECH CONCLAVE - Unveiling the Tech Directions, 14th, January 2009, Media Centre, BCFC Centre, Dhaka, Bangladesh

Garmen-Tech Conclave is a platform which will unveil the TECH directions for the future.

Conceived and executed by GarKnit World,- a journal on the garment and knitting technology, 'this arena provides a synopsis of what's in store for the industry in terms of technology, products & services.

The emphasis of the Garmen-Tech Conclave is educate and update professionals in the apparel and knitting industry on the latest in apparel making & Knitting & Embroidery, Finishing & Laundry, CAD/CAM industry.

Farmers not benefited in fertiliser price decline in global market

Our Correspondent, Chittagong

CHITTAGONG, Jan 06: Cultivators of the country are yet to get any benefit from the fertilizer price decline in the global market.

They are still compelled to buy the very essential item of cultivation at an exorbitant price. The farmers apprehend, if the price of fertiliser is not reduced, it would have adverse affect on cultivation.

Price of different kinds of chemical fertiliser began rising in the month of May last year and price of some of those almost doubled.

Since then, prices of urea fertiliser, TSP and MOP jumped to Tk 12, Tk 75 and Tk 48 per kilogramme respectively while those fertiliser used to be sold at a rate of Tk 6, Tk 34 and Tk 30 respectively earlier.

On the other hand, price of the chemical fertiliser began declining in the global market since the month of August last and it has already registered a wide-ranging rise.

Concerned sources said, price of urea has dropped to US$ 246 from US$ 770. Price of TSP has declined to $ 915 while it sold at $ 1132 in the global market.

Price levels of those two kinds of fertilisers registered up to 68 per cent and 19 per cent fall respectively in the global market.

But no positive impact on price level of the said item in the local market is yet in a sight.

While talking to the farmers, it is gathered that due to price hike of the fertiliser, they are gradually losing their interests in cultivating crops facing loss.

If the price of fertiliser is not reduced at a justified level, Boro cultivation may be hampered, farmers fear.

Citycell customers to enjoy special discount from O2

Citycell customers will enjoy special discounts on all items at O2, a renowned fashion house at Banani. Both the companies recently signed an agreement in this regard at a signing ceremony held at Citycell's Head Office.

Md Jafor Iqbal, Director of O2 and Dr. Anand Rajasingham, Head of Marketing of Citycell signed the agreement on behalf of their respective organizations.

Ms. Ayesha Ahmed Khan, Business Partner of O2, Ms. Sania Mahmood, General Manager, Marketing Communications and Branding, Mr. Ahmed Armaan Siddiqui, Deputy General Manager, Product and Business Development and other officials of Citycell were also present on the occasion.

RAKUB disburses Tk 25.83 crore as loan in Joypurhat

BSS, Joypurhat

Rajshahi Krishi Unnayan Bank (RAKUB) disbursed about Tk 25.83 crore agri-loan among farmers of the district during the last six months of current financial year, 2008-09.

RAKUB Joypurhat Regional office sources said the loan was disbursed through 15 branches of the bank in the district.

Of the total, Tk 11.25 crore was disbursed for crop cultivation, Tk 58.41 lakh for fisheries, Tk 1.80 crore for livestock and animal husbandry sector, Tk 12.17 lakh for purchasing irrigation and agro-equipment, Tk 3.52 crore as regular loan, Tk.74.87 lakh for poverty alleviation, Tk 35.80 lakh for agro-based industry sector, Tk 3.13 crore as SME loan and Tk.4.33 crore for other sectors.

Bank sources said special steps were taken to ensure maximum and proper utilisation of the loans to improve socio-economic status of the rural people.

600,000 workers leave south China's industrial heartland

AFP, Beijing

About 600,000 migrant workers left south China's industrial heartland last year as the economic crisis caused exports to shrink and forced factories to close, a senior official said yesterday.

The number of migrants departing Guangdong province, one of the world's top makers of toys and electronic appliances, accelerated in 2008 as the situation worsened, said provincial deputy governor Huang Longyun.

"This year the situation is more serious than at any other time since the start of the decade, indeed since the Asian financial crisis," he told a briefing in Beijing.

By the middle of last year, when the financial crisis was still in its embryonic stage, only 143,100 had left Guangdong, but the number reached half a million at the end of October and has now hit 600,000.

Guangdong's export sector may have been the single most important factor in China's economic boom, and it has been helped by migrant workers who have gone to the province from China's destitute interior in search of better lives.

Huang did not give an overall figure for the number of migrant workers in the province, but earlier data said they numbered between 25 and 30 million.

Data unveiled at the briefing showed why the migrants were leaving, stating that Guangdong's economy grew by 10.1 percent last year, down from 14.7 percent in 2007.

Exports, the lifeblood of the province, expanded by just 5.6 percent in 2008, down from 22.3 percent the year before, the statistics indicated.

The health of Guangdong is essential for China's overall wellbeing, as the Pearl River Delta, the province's most active economic area, provides much of the nation's growth impetus.

Together with the Yangtze River Delta further north it takes up just 2.6 percent of China's land area, but accounts for one third of its gross domestic product and 40 percent of its fiscal revenues, according to government data.

Coca-Cola says Malaysia boycott will hurt economy

AFP, Kuala Lumpur

Coca-Cola spoke out yesterday against a boycott of its drinks and other US goods called by Malaysian Muslim groups over the Gaza offensive, saying it would only hurt the local economy and citizens.

"As everybody else, we are deeply touched by the human side of the situation in the Middle East," Kadri Taib, Coca-Cola Malaysia public affairs and communications director, said in a statement.

"Given the local nature of our business, we believe that calls for boycotts of our products are not the appropriate way to further any causes, as they primarily hurt the local economy, local businesses and local citizens."

It said the beverage company employs some 1,700 Malaysians, 60 percent of whom are Malay Muslims, who dominate the multicultural nation's population.

A boycott of US-made goods and firms including Coca-Cola and Starbucks has been called by Muslim groups who are planning a protest Friday at the National Mosque in the capital Kuala Lumpur.

The boycott, aimed at US support of Israel which has mounted the offensive in Gaza, is spearheaded by the Malaysian Islamic Consumers Association as well as the Muslim Restaurant Operators Association which has removed Coca-Cola from the menu at thousands of eateries.

"We hope the Muslim consumers will fully take part so it will send a clear signal to Israel and its allies not to continue to torture Muslims," the Consumers Association said in a statement.

Former Malaysian premier Mahathir Mohamad has also called for a global boycott of the US dollar and US products in protest over Washington's support of Israel.