Friday 27 December 2013

Men and Women 6.9 and 5 fee . Gives hours of labor________________________________________
 
Dhaka : A man engaged in money in 4 hours 6 hours and decimal 9 to 5 decimal of hours spent by women . However, women working in household spends more than 3 times to men .
Bangladesh Bureau of Statistics ( BBS ) has recently published the data . 01 in BBS 's initiative ' use of time ' in relation to a pilot survey was held . This is the first survey of its kind in Bangladesh .
The survey is shown , the household , whereas women spend hours spent on M 1 and 3 as 4 to 6 hours in decimal . Working Expenses during the same work hours for men , women represented 1 1 0 decimal 9 hours are spent .
Inventory of the Bangladesh Bureau of Industry and Labour Wing 's vice- director Kabir Uddin Ahmed said , " The month of May in 01 of 780 households in Grades 3 of 10 thousand people from 15 years and above is handled in this survey .
The results of the survey found men engaged in working for pay day 6 decimal 9 hours , 1 for households as 4 hours , 1 decimal 1 decimal 6 hours and 15 hours of leisure to spend on other activities . "
Contrary to the decimal of 5 hours of work for working girl , working in the family 3 decimal 6 hours , 0 decimal 9 leisure hours , 4 hours and 14 spend on other activities . "
Is not engaged and the time lag is noticeable work across the city and the countryside , he said , according to the administrative division of the work, there is a difference . Traders work to spend more time in Dhaka and Rajshahi businessmen who spend less time . '
' The system of national accounting National Accounting ( SNAs ) are shown by the share of working time .

EXIM Bank opens branch Chapainawabganj 80th

EXIM Bank opens branch Chapainawabganj 80th________________________________________
 
Photo : All rights reserved. LessDhaka : Chapainawabganj Export Import Bank ( EXIM ) of Bangladesh Limited was inaugurated the 80 th branch . From the principal's office for the first time on Thursday at the branch was inaugurated through video conference .
Bank managing director said. Mohammed Haider Ali Miah inaugurated the branch as the chief guest . P advisor at the bank were also present . Pharida Uddin Ahmed , Deputy Managing Director, M Sirajul Islam , Sirajul Haque Rumi Ehsanul Haque Khandaker Mia and senior executive officials of the head office .
Chanpainawabganj Branch Chamber of Commerce and Industry president Chapainawapganj attended . Abdul Wahed local elites .

Clothing sector Package Meets with bankers central bank

Clothing sector PackageMeets with bankers central bank________________________________________
 
Dhaka : Government of garment sector businesses demand a special package - Meets desela talks with private banks , the Central Bank of Bangladesh Bank .
Reliable sources said , at the meeting on Monday morning .
Bangladesh Bank officials , bank chief executives at the meeting has been called . Bank chief executives to review comments and suggestions have been called to the meeting .
According to sources , at 10am on Monday in the first round of nationalized banks will meet with the chief executive authority of Bangladesh Bank . Private sector banks will sit with the central bank at 11 .
Bangladesh Bank for the clothing sector over recent initiative to inform bankers . Meanwhile Export Development Fund ( idiepha ) of the interest rates , subject to a case -to- case lending punahtaphasila will tell them . Bangladesh Bank is going on but refuses to bring any legal changes .
Bangladesh Bank Deputy spokesman AFM Asaduzzaman told Asked regard , in recent times gave central banks clothing sector traders for some guidance . Some action will be taken . Must review these issues will largely sitting .

However, it was decided at a meeting chaired by the Finance Minister on 19 December for a special package announced this week that the clothing sector . Ongoing political violence to the clothing sector , Finance Minister AMA Muhith patronizing cash grants from the government support package announced in particular will increase .
Federation president Kazi Akram Uddin Ahmed of the last 11 in December led to an 8 -point with business groups claimed the finance minister . In the meantime, the minister said this month announced a special package . The governor met with businessmen on Dec 15, the same claim .

Bank managers are additional benefits : BB

Bank managers are additional benefits : BB________________________________________
 
Dhaka : Scheduled byankaguloka managers offered additional financial or any other Bangladesh Bank has asked banks to refrain from .
Any person who is not a member of the board of directors or shareholders, the Board did not attend the meeting are asked to confirm it .
Bangladesh Bank circular is directed at brhampatibara .
Banking regulation and policy department of the central bank ( biarapidi ) has been issued from .
The deputy general manager Saiful Islam said notification has been signed , the goal is to be presented to a person who is not a member of the board of several banks join . Managing Director and Company Secretary of the Board meeting , but no one other than you can stay . Help someone else touches can only have a certain time . So anyone who is not a member of the Board to ensure that the meeting will not be present .
It also has the same direction , some of the advantages of the Bank in accordance with the law, outside the bank , including additional financial aid opportunities - taking advantage of . But board members are scheduled to attend the meeting due to any financial advantages of honourarium clear violation of the Bank Company Act . So being asked to refrain from granting additional benefits .

Thursday 12 December 2013

Early talks could avert losses

kadaer mollah

ADB, Japan to help BD improve int’l trade

Asian Development Bank (ADB), and the Government of Bangladesh Wednesday signed a technical assistance grant project agreement for $1.5 million to help Bangladesh trade more quickly, cheaply, and efficiently.
The Government of Japan is providing the grant for the technical assistance project from the Japan Fund for Poverty Reduction (JFPR) ―a fund established in May 2000 by the Government of Japan to provide grants and technical assistance for projects supporting poverty reduction and related social development activities. ADB will administer the technical assistance project. Saifuddin Ahmed, Joint Secretary, Economic Relations Division (ERD) and Stefan Ekelund, Deputy Country Director for ADB’s Bangladesh Resident Mission, signed the loan agreement on behalf of Bangladesh and AD respectively. The technical assistance project will supplement efforts being made under the SASEC Trade Facilitation Project, which is being supported by ADB with a $21 million loan. The Project is helping Bangladesh to make its trade more efficient, transparent, and service-oriented. The technical assistance project will provide expertise and training for the improvement of border clearance processes in line with the Revised Kyoto Convention, an international accord providing standards and best practices on customs administration. It will also support customs automation, and the development of national single window and trade portal to streamline and harmonize trade procedures in Bangladesh. His Excellency Shiro Sadoshima, Ambassador of Japan to Bangladesh welcomed the initiative and wished success of the project. He also assured Japan’s continued assistance to improve trade and commerce in Bangladesh. “Improving the trade environment in Bangladesh through measures that will make exporting and importing faster and less costly would enhance the country’s competitiveness and attractiveness to foreign investors,” said M Teresa Kho, ADB Country Director for Bangladesh. “Trade facilitation is a key initiative under the ADB-supported South Asia Subregional Economic Cooperation (SASEC) Program, in which Bangladesh is actively participating together with Bhutan, India, and Nepal.” SASEC is a project-based economic cooperation program aimed at enhancing cross-border connectivity and facilitating trade among its member countries. Since SASEC’s inception in 2001, 25 subregional projects in transport, energy, and trade facilitation with a combined total cost of almost $4.7 billion have been approved, with ADB financing of about $2.7 billion. Complex documentation and customs clearance procedures are among the key bottlenecks to trade in Bangladesh. Lack of customs automation and availability of one-stop shop for trade-related information also constrain the growth of trade. Currently, it takes 25 days in Bangladesh to complete all procedures related to export, and 34 days for import. ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members – 48 from the region.

Muhith terms BB bogus

Finance Minister AMA Muhith on Wednesday termed Bangladesh Bank (BB), the central bank of the country, as “bogus” as the bank did not respond him.
The finance minister came up with the observation in a programme at the ministry, in front of the businessmen. Earlier several times, he expressed his dissatisfaction with the bank but this is the first time he came up with such harsh comment publicly. In an angry tone, finance minister said: “BB is not giving incentives against TT (telegraphic transfer) even after my approval.” He added: “At this moment, I am giving order to complete the task by this week… why the bank (BB) is not carry out my directives? I am disturbed and annoyed.” Finance Secretary Fazle Kabir, Chairman to National Board of Revenue (NBR) Golam Hossain, FBCCI President Kazi Akram Uddin and Executive Director Moniruzzaman were among others present at the meeting.

‘Myanmar, a budding business hub for BD’ Ishtiaq Husain, Special Correspondent

Myanmar would be a new business hub with an export prospect of several products like medicine, readymade garments, food, cement, brick, and rod.
Bangladesh Ambassador in Myanmar Major General (retd) Anup Kumar Chakma came up with the hope while he was addressing an inauguration ceremony of Dhaka-Yangon flight of Biman Bangladesh Airlines at Yangon International Airport on Monday. He said, “Communication is very important for business and the flight service will extend the opportunity of business between two countries.” According to the report of Foreign Direct Investment (FDI) intelligence of 2013, there were only 10 foreign investment initiatives in 2011 in Myanmar but it boosted to 54 within one year. The country has got around 450 percent growths in the field in the 2013. Regarding to the resume of the national flag carrier flight in the route Anup Kumar said, “I am very glad about the restart of the flight service after long seven years.” Furthermore, he expected that the Biman service will help the communication as well as in diplomatic relations between the two countries.

Wednesday 11 December 2013

RMG bosses to meet Hasina, Khaleda

Violence ailing transport sector

They said they were unable to run their vehicles due to vandalism and arson, leaving them in a severe financial crisis.

And so they were defaulting on paying bank loans, they added, expressing apprehension that if the present situation persisted they might have to wind up their business.

Transport sector had incurred huge loss due to vandalism and arson during political programmes, said Bangladesh Sarak Paribahan Samity Secretary General Khandker Enayet Ullah.

“Transport owners had suffered a loss of around Tk 904 million due to vandalism in last one year,” he said, talking to bdnews24.com.

‘“On the other hand, they incur a loss of around Tk 3 billion if their buses, trucks and covered vans remain off the roads for a day.”

“So it is easy to assume what is our condition now.”

He said about 800 vehicles had been burned down and around 3000 others damaged during political shutdowns and blockades in the last one year.

“Many owners are seeking to close down their businesses. How can they run their business when they cannot repay their bank loan,” he said.

Enayet Ullah estimated that there were around 0.3 million buses, trucks and covered vans in the country. Of them, 200 thousands were bought through bank loans.

“Business has been deteriorating day by day. If loan is not repaid on time, interest also starts increasing.”

“Many have become destitute. If such a situation persists, private transport sector won’t last any longer.”

According to Bangladesh Bank, around Tk 650 million was invested on transport equipment and spares until Mar 31 of the current fiscal.

• Around Tk 4 billion for automobiles, including CNG conversion.

• Around Tk 60.8 billion for transport and communications.

• Around Tk 30 billion for vehicles that includes buses, trucks, auto-rickshaws and taxicabs.

Besides this, around Tk 18 billion was invested on water transport that includes launches, ferries and steamers and Tk 12 billion for aircrafts.

Enayet Ullah called for talks between two political parties for safeguarding transport sector.

Many transport workers’ income has almost stopped as their vehicle could not ply on the roads due to shutdowns and blockades.

“There are around 3 million workers in the transport sector,” said Office Secretary of Bangladesh Sarak Paribahan Samity, Badal Chowdhury, speaking to bdnews24.com.

“When vehicles stop operating, income of the transport workers get affected too. How their families will sustain? Our politicians should think about this.”

“Many of them have gone back to their native villages to work as day-labourers.”

According to Badal, around 33 transport workers had died and around 500 injured in shutdowns and blockades until November 30 this year.

Around 80 percent of the workers get their wages on daily basis. Only 20 percent get monthly wages, Enayet Ullah said.

“We follow the policy of Bangladesh Bank in disbursing loans,” said Helal Ahmed Chowdhury, Managing Director of Pubali Bank Ltd.

“As per the policy, if any borrower fails to repay the loan due to unavoidable circumstances, we give them more time to repay.”

“But those who do not repay loan wilfully, we show zero tolerance towards them.”

Of late there has been a growing trend to make railways a target. This has started from February after the strike called against Jamaat-e-Islami leader Delwar Hossain Sayedee’s death sentence for his crimes against humanity in 1971.

Since then the railway sector has suffered a loss of Tk 320 million due to acts of sabotages during different political programmes, Railways Minister Mujibul Hoque had said on Nov 28.

Due to sabotage of railway properties, railways incurred a loss of Tk 32 crore, he had said.

On preventing the attacks, Communications Ministry's Roads Division Secretary MAN Siddique said, “There is a clear directive from the Home Ministry to provide security to the transport sectors. As far as we know police are working to prevent violence.”

Early talks could avert losses

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Kazi Akram Uddin Ahmed said that widespread violence, loss of lives and harm to the economy could have been averted had they heeded its appeal for initiation of talks.

"But they didn't pay heed to us but responded to the foreigners' call," he said at a media conference on Wednesday in Dhaka.

He said they had been ignored "because we cannot give threats. We can only point out the harm caused to the economy".

The reaction came a day after leaders of the rival alliances agreed to sit for talks at the mediation of UN's Assistant Secretary-General Oscar Fernandez-Taranco.

Wednesday's briefing was to inform the media of FBCCI's Dec 15 human chain programme demanding a solution to the political impasse ahead of the general elections through a dialogue.

Top businesspersons had met Prime Minister Sheikh Hasina and BNP Chairperson Khaleda Zia twice in last October and November to press for a secretaries general-level talks.

However, the top business body's repeated calls to shun violence and reach an understanding went unheeded.

"Many lives would not have been lost and the country's economy would not have been destroyed had they responded to our calls," said the FBCCI chief in apparent frustration.

In a media statement last month, the FBCCI had expressed serious concerns over the political unrest.

"The country is headed for an economic disaster unless this politics of destruction is stopped," it had said.

It had urged the political leaders to consider the larger context of the economy and give up violent agitation.

FBCCI chief Kazi Akram said the businessmen would form human chains, sporting white flags, from 11:30am to 12pm on Dec 15 in front of their respective businesses and the main streets across Bangladesh.

The programme will also be in protest against the ongoing political violence, shutdowns, blockade programmes, and to demand a trade-friendly environment.

A stage would be set up in front of the Federation's building at Dhaka's Motijheel from where top business leaders would address the gathering.

"The hoisting of white flags is a sign of surrendering.

"We'll hoist white flags to tell that we are surrendering to violence," said the FBCCI President.

TV ad market to shrink

France-based ad agency ZenithOptimedia’s associate firm Publicis said television channels were expected to capture 40.2 per cent of the $532 billion global ad market, the peak after three decades of growth, in 2013 before falling to 39.3 per cent of the total market in 2016.

US-based Group-M is also predicting that TV channels’ share of the global advertising market will decrease slightly in the coming year.

The agencies said the transition was the result of digital media chipping away at television channels’ dominance amid broader upheaval in the industry.

ZenithOptimedia forecasts that the internet will boost its share of the ad market from 20.6 percent in 2013 to 26.6 percent in 2016.

Within that category, mobile advertising will grow by an average of 50 percent a year between 2013 and 2016, contributing 36 percent of extra ad spending, it said.

ZenithOptimedia further said TV channels would account for 34 percent of new ad spending, with newspapers and magazines declining by an average of 1 percent and 2 percent a year.

According the agency, marketers poured money into digital ads largely at the expense of print media in recent years. TV not only held its ground but grew as marketers sought to reach mass audiences, it added

“That scale is tipping. While TV will still deliver growth in ad spending, digital media and the rise of online video are the real competitors for ad dollars,” said Jonathan Barnard, ZenithOptimedia’s head of forecasting.

“After television ad spending has grown pretty consistently for at least the last 35 years . . . there will be quite a lot of disruption to come over the next 10 years.”

ZenithOptimedia said overall mobile ads accounted for just 2.7 per cent of global ad spend in 2013 but were likely to rise to 7.7 per cent of the market by 2016, overtaking radio, magazines and outdoor ads.

Tuesday 10 December 2013

Canadians urged to help BD labourers

A year ago, Kalpona Akter stood inside a still-smouldering garment factory on the outskirts of Dhaka, looking for clues amid a scene of horror.
Around her were signs of the panic that workers on the production floor experienced hours earlier when the Tazreen factory caught fire, killing 117 workers. Burned bodies were still scattered around. There were signs that people had tried to remove bars from the windows to escape. Some had succeeded and leaped from windows to their deaths. “It was unbelievable.” Akter, a former child labourer, who has made it her life’s mission to improve deadly working conditions in the Bangladeshi garment industry, slipped into the factory and began searching piles of clothing looking for labels to verify which companies the clothes were being made for. What she found and saw around her became part of the evidence linking the conditions in the brutal sweatshops of Bangladesh, the Western retailers who sell their products and the consumers who buy them, and part of the campaign to turn the industry around. This week, the diminutive Bangladeshi powerhouse was in Canada to pressure businesses, consumers and the federal government to help improve the kind of deplorable working conditions that led to the deaths of 1,200 Bangladeshi garment workers – the vast majority of them women – in the past year alone. In both the Tazreen factory fire in November 2012, and, five months later, the Rana Plaza building collapse in which more than 1,100 workers were killed, the clothes being made were sold to Western companies, including Canadian companies and those that sell to Canadians. Canadian companies and consumers have the responsibility to help change the situation, she said, and so does the federal government. The government, she says, should follow the US example and place conditions on its trading status with Bangladesh in order to monitor and influence workers wages and work conditions. Consumers can also exert influence, she said, but that should not include a boycott. “Not buying is not the solution,” she said. “A boycott would be suicide for the workers who work in this industry. We are talking about four million workers, and over 85 per cent are female. There is no doubt we need these jobs but we want them with dignity. We want a safe working place, a decent wage and a union voice at our factories.” Akter encouraged Canadian consumers to pressure companies to sign the accord with garment workers unions that brings a mandatory independent inspection process to the system and gives workers a voice at the table. She also says consumers should put pressure on companies that haven’t paid compensation in the case of garment factory disasters. Although Loblaw – whose Joe Fresh clothes were being made at Rana Plaza – is the only Canadian company to sign the accord, Akter says it has not yet paid compensation to workers and their families. She met with company officials during her visit to Canada who have said they plan to pay compensation. She also said consumers should “raise their voices” to say retailers should charge more for their clothing so workers can be better paid, in the range of $100 a month. (Most estimates put current wages at around $60 a month.) “As consumers, they have purchasing power they can use to make these factories safer and to give a better voice to our workers.” Akter knows well what it is like to work in gruelling, unsafe work conditions for minimal pay. When her father became sick, she was sent to work at a garment factory, along with her brother. She was 12 and he was 10. The two children were working to support a family of seven. Akter, who is now 36, says she worked more than 400 hours a month for a salary of $6. Workers were slapped by managers for minor mistakes, were prevented from using the bathroom and were often locked on the work floor. Once, she said, there was a fire on another floor and managers would not let workers leave, saying the fire would not reach them. Workers panicked and managers finally relented, opening the door, but when they did workers stampeded down the partially blocked stairway and many were seriously injured. Akter helped form a union at her plant when she was just 15 and was fired a year later. She had a hard time getting work in any garment factory after that, but eventually went to work for a union and recently helped form the Bangladesh Centre for Worker Solidarity, which offers education, support and lobbying on behalf of garment workers. Still, despite the growing awareness of human rights violations, abuses and threats to workers safety, she said that little has changed over the years. When she went to the site of the Tazreen fire, Akter said she watched panicked workers jumping from windows. One woman later told her that she had not jumped to save her life, but so that her family would be able to identify her body. When the Rana Plaza collapsed, Akter was in the US lobbying for better working conditions in Bangladesh, but quickly returned and went to the site. She said she saw families with pictures asking if anyone had seen their loved ones and even small children with pictures of their missing mothers. “There was so much pain in the air. Families were crying and screaming.” Akter said she cried all night when she heard about the Rana Plaza disaster. “How much can you take? Every single hour, every single minute it was like you were keeping score of the bodies.” The final tally was more than 1,100 workers. A spokesman for the Department of Foreign Affairs, Trade and Development said Canada is concerned about working conditions in the global ready-made garment sector and supports efforts to provide workers with safe and healthy working conditions. But Canada’s Least-Developed Country Tariff, which provides duty-free access to Canada for Bangladeshi goods, was created in 1983 to promote development in the world’s poorest countries with no other conditions. A spokesman also noted that the US effort to suspend tariff benefits is largely symbolic, because the US program does not cover apparel, which is Bangladesh’s largest industry. The EU announced after the Rana Plaza collapse it would continue Bangladesh’s duty-free status.

Standard Bank EC Meeting Held

The 111th meeting of the Executive Committee (EC) of the Board of Directors of Standard Bank Ltd was held recently at Board Room of Head Office of the bank, said a press release.
The Executive Committee Chairman Alhaj Mohammad Shamsul Alam presided over the meeting. The meeting was attended, among others, by members of the Committee Kamal Mostafa Chowdhury, Ferozur Rahman, SAM Hossain, Mohammed Abdul Aziz & Gulzar Ahmed Managing Director M Nazmus Salehin, DMD & Group Company Secretary AFM Nizamul Islam Chowdhury and DMD Mamun-Ur Rashid. The EC took various important decisions regarding bank’s investment policy in the field of trade, commerce & industries and approved proposals received from different branches in respect of financing of working capital for industries & other import, export & commercial trading businesses etc.

BB provides Tk 400 crore loan

The Bangladesh Bank (BB) has decided to provide Tk 400 crore as loan in the favor of Standard Group for running their business.
The decision came from a trilateral meeting on Sunday at Bangladesh Bank. With the governor the central bank Dr Atiur Rahman in the chair, the meeting was also attended by the high officials of the bank and the Chairman and Managing Director of the damaged Standard Group. According to decision, the Standard Group will get a loan of Tk 200 crore under the Export Development Fund (EDF) and the rest of the money will be provided by three foreign banks. Regarding the matter, BB deputy governor SK Sur said, “We have planned to provide loan as Standard Group can fight back after the debacle.” He added: “The organization will get loan with low interest rate and easy terms and conditions.” SK Sur also said the repayment period of current loan of the organization would be extended for five years on easy terms and conditions. The organization will also get some facilities in importing their raw materials and exporting their goods, he added. SK Sur further said this consideration will only be eligible for Standard Group not for other readymade garment factories.

Friday 6 December 2013

Forex reserves fall by $17.11 bln in Nov

DHAKA: Bangladesh`s foreign exchange reserves declined by $17.11 billion at the end of November to $17.35 billion in October, official data showed.

Reserves turn down in November due to bi-monthly import payments to the Asian Clearing Union totaling about $800 million, the central bank said on Sunday.

According to data, the country’s exports in the period from July to October increased 16.5 percent on the year to $9.75 billion, rose by clothing sales, as the low-cost country retains its allure for cost-crunching global retailers.

Economic growth is expected to slow to less than 6 percent in the year to June 2014 from 6 percent the previous year for political instability ahead of elections scheduled for January 5.

Standard Bank Board Meeting Held

DHAKA: The 216th Board Meeting of Standard Bank Ltd was held recently in the Board Room of Head Office of the bank.

Kazi Akram Uddin Ahmed, Chairman of the Board of Directors of the Bank presided over the meeting.

It was attended by Vice Chairman of the bank Ashok Kumar Saha & Directors Messers- Kamal Mostafa Chowdhury, Ferozur Rahman, SAM Hossain, Mohammed Abdul Aziz, Gulzar Ahmed, M Zahidul Haque, Al-haj M Yousuf Chowdhury and M Faikuzzaman.

Amongest others Managing Director M Nazmus Salehin, DMD & Group Company Secretary AFM Nizamul Islam Chowdhury & DMD Mamun-ur Rashid were also present in the meeting.

The Board took various important decisions regarding Bank’s investment policy in the field of Trade, Commerce and Industries and approved proposals received from different branches in respect of financing of working capital for Industries & other import, export & commercial trading businesses.

WTO agrees global trade deal worth $1tn

DHAKA: The World Trade Organization has agreed its first ever global deal aimed at boosting commerce.

The agreement reached in Bali, Indonesia, simplifies trade procedures and also makes it easier for the poorest countries to sell their goods, reports BBC.

The deal could add nearly $1tn (£617bn) to the global economy, analysts say.

It is seen as an important step for the WTO which has struggled to make new trade agreements, the BBC`s economics correspondent Andrew Walker says.

However, the deal was earlier criticised by development campaigners, who said it was not going far enough.
US warning

"It is so agreed," Indonesian Trade Minister Gita Wirjawan said at the Bali meeting, following marathon negotiations between trade ministers from 159 nations that lasted well into the early hours of Saturday morning.

Cuba had been threatening to veto the package, because it said it did not do enough to press the United States to lift its trade embargo on the island, but was eventually agreed to accept the wording of the agreement.

"For the first time in our history, the WTO has truly delivered," said WTO chief Roberto Azevedo, as the organization reached its first comprehensive agreement since it was founded in 1995.

"This time the entire membership came together. We have put the `world` back in World Trade Organization," he said.

The deal reduces barriers to exports from the poorest countries.

It also gives developing nations more scope to use subsidies to safeguard food supplies.

Food security had been one of the most-hotly debated issues before the agreement was finally clinched.

The US trade representative, Michael Froman, had urged the WTO`s member economies to work past their differences.

"Leaving Bali this week without an agreement would deal a debilitating blow to the WTO as a forum for multilateral negotiations.

"If that happens, the unfortunate truth is that the loss will be felt most heavily by those members who can least afford it," Mr Froman said.

Unrest affects Indo-Bangla cross border trade

DHAKA: Political turmoil in polls-bound Bangladesh has affected cross border trade with India, putting a halt on exchange of businesses between the two nations.

On November 25, the Election Commission announced that elections would be held on January 05.

The BNP has rejected any attempt to hold an election until it is satisfied a neutral interim administration is in place without Prime Minister Sheikh Hasina.

The strike on Thursday adversely affected the truck drivers, especially their daily wages. Stationary trucks loaded with goods were seen at the parking area, bearing the brunt of the strike.

Source: aninews

Thursday 5 December 2013

BRAC Bank distributes warm clothes

BRAC Bank Limited, a private commercial bank of the country, has brought smiles to more than 26,000 poor people in the Northern region by distributing warm clothes well ahead of winter.
Our Northern region is hit hard by severe cold spell every winter. People of the area were touched upon receiving warm clothes well ahead of the winter season. Many poor old-aged people queued up and received the warm clothes. Some broke down in tears after getting the clothes. On receiving a blanket, Abdul Aziz, an 80-year-old man at Bhurungamari in Kurigram, said, “Warm clothes ahead of winter have come as a great help for us. We can now have a good night’s sleep this winter. May Allah bless you.” The initiative carries the warmth of almost 8,000 employees who have donated warm clothes for the less advantaged people of our country. Apart from donating warm clothes, the employees also raised funds to buy blankets to help people survive the imminent and unbearable winter. Every winter, BRAC Bank employees come forward to help humanity. Like previous years, the employees of BRAC Bank donate funds for "BRAC Bank DAUR – Kallayaner Pathchala", an annual marathon to raise funds for humanitarian causes. A portion of these funds has been used to buy the blankets to be distributed among the less advantaged people of our country. Three teams of BRAC Bank distributed 3,500 blankets 6,000 sweaters and 17,000 warm clothes in three areas in the Northern districts--Bhurungamari in Kurigram, Dimla in Nilphamari and Harivasha in Panchagarh.

Forex reserves fall by $17.11 bln in Nov

Bangladesh`s foreign exchange reserves declined by $17.11 billion at the end of November to $17.35 billion in October, official data showed.
Reserves turn down in November due to bi-monthly import payments to the Asian Clearing Union totaling about $800 million, the central bank said on Sunday. According to data, the country’s exports in the period from July to October increased 16.5 percent on the year to $9.75 billion, rose by clothing sales, as the low-cost country retains its allure for cost-crunching global retailers. Economic growth is expected to slow to less than 6 percent in the year to June 2014 from 6 percent the previous year for political instability ahead of elections scheduled for January 5.

Standard Bank Board Meeting Held

The 216th Board Meeting of Standard Bank Ltd was held recently in the Board Room of Head Office of the bank.
Kazi Akram Uddin Ahmed, Chairman of the Board of Directors of the Bank presided over the meeting. It was attended by Vice Chairman of the bank Ashok Kumar Saha & Directors Messers- Kamal Mostafa Chowdhury, Ferozur Rahman, SAM Hossain, Mohammed Abdul Aziz, Gulzar Ahmed, M Zahidul Haque, Al-haj M Yousuf Chowdhury and M Faikuzzaman. Amongest others Managing Director M Nazmus Salehin, DMD & Group Company Secretary AFM Nizamul Islam Chowdhury & DMD Mamun-ur Rashid were also present in the meeting. The Board took various important decisions regarding Bank’s investment policy in the field of Trade, Commerce and Industries and approved proposals received from different branches in respect of financing of working capital for Industries & other import, export & commercial trading businesses.

1,667 smartphones seized at Shahjalal

A total of 1,667 smartphones worth around Taka seven crore have been in cargo area at Hazarat Shahjalal International Airport.
Dhaka Customs House Assistant Commissioner Kamrul Hasan on Tuesday told banglanews that they seized the haulage on Sunday. He said some 99 i-phone 5, 77 i-phone 5X, 70 Galaxy S4, 200 htc and numbers of Blackberry, Sony Xperia and Nokia Lumia were seized by the customs authority from a haulage by Shah Shafi associates. The Hong Kong based export-import enterprise brought the mobile-phones in the name of computer accessories.

ACC quizzes 7 BB officials

The Anti-Corruption Commission (ACC) on Wednesday has quizzed seven top officials of Bangladesh Bank over Hall-Mark loan scam.
An ACC investigation team led-by ACC Senior Deputy Director Mir Joynul Abedin Shibli quizzed them at Anti-Corruption Commission Headquarters in the capital. The officials are Joint Director Monir Ahmed Sikdar, Deputy Director Anwar Hossain, Assistant Director Muhammad Abdullah-Al-Mamun, Deputy Director Rezaul Islam, Deputy Director Hasan Askari Bhuiyan, Joint Director Siddikur Rahman and Deputy Director Kazi Arifur Rahman. ACC filed 38 cases over the Hall-Mark loan scam. Amongst those, 27 cases were filed for embezzling Tk 372 crore. Besides, the investigation is underway in the case of embezzling Tk 3,606 crore from state-run Sonali Bank with the help of bank’s high-ups by little-known Hall-Mark Group and five other companies. On October 7, the ACC submitted charge sheet against 26 suspects in 11 cases for embezzling Tk 1,568 crore. A central bank probe found that Sonali Bank high-ups, including a deputy managing director, a general manager and the branch manager, were directly involved in the scam.

Monday 2 December 2013

October ends with 111.8m mobile subs

DHAKA: The Bangladesh mobile user base rose to 111.79 million in October from 108.68 million in September.

Grameenphone brought its customer base to 46.66 million from 46.04 million a month earlier and Banglalink ended November with 28.39 million customers, up from 28.10 million, figures from the Bangladesh Telecommunication Regulatory Commission (BTRC) show.

Robi Axiata had 24.83 million subscribers in October, similar to September, and Airtel mobile base went up to 8.23 million from 8.03 million.

Citycell`s customer base increased slightly to 1.34 million from 1.33 million in September while state-run mobile operator Teletalk had 2.34 million customers in October, the same as in the prior month.


Sunday 1 December 2013

FBCCI laments damage to economy

The country is headed for economic ruin at least in the immediate future unless this politics of destruction is stopped," the FBCCI statement said.

It said: "We can never support an agitation that aims at burning and killing people. But we also believe large scale arrests to contain the violence can offer a solution."

The FBCCI urged the political leaders to consider the larger context of the country's economy and need for public order and give up the violent agitation without any further delay.

The country is in the grip of a 72-hour Opposition blockade from early on Saturday after a 72 hour blockade that ended early on Friday.

"These blockades are disrupting transport, inconveniencing livelihoods of millions of people, specially the poor, and, above all, ruining the education of millions of students. This has caused huge anxiety amongst parents of the students," the FBCCI statement said.

200 trucks stranded at Mawa

The BNP-led 18-Party alliance had called for the 72-hour blockade, starting from 6am on Saturday, after its 71-hour blockade ended at 5am on Friday.

The 200 trucks with perishable goods have been trapped on Mawa-Kewrakandi river route on the first day of the blockade.

These trucks are carrying agricultural goods worth millions.

The goods will start to rot, if the trucks remain stuck, stakeholders say.

The truck drivers also fear petrol bomb attacks.

One of them, Alamgir Hossain said, “I have been stuck here since Friday, when I crossed the Padma river.”

“I am bound for Chittagong from Satkhira with fish in my truck.”

The whole truckload of fish will perish if he was stranded here for three days, Hossain feared.

Another truck driver Md Babu worried about food and stay which would cost him quite a bit if his truck remains stranded for three days.

“I will not get any extra payment for these days and so I am worried.”

“They (political parties) should think of alternatives, they should not hit at our daily bread and butter with strikes and blockades.”

Situation is not different for truck drivers Md Shahin Mia, Nurul Islam and Shafiq Dewan. Some of them are stuck with vegetables and others with fish or other perishable commodities.

Over 200 vehicles were stranded on both sides of the Mawa terminal, despite adequate numbers of ferries, said BIWTC Assistant General Manager Ashikuzzaman.

“Trucks are coming from that side and getting stuck at Mawa side due to blockade.”

Adequate measures had been taken to ensure security of the trucks, he added.

Forex reserves fall by $17.11 bln in Nov



DHAKA: Bangladesh`s foreign exchange reserves declined by $17.11 billion at the end of November to $17.35 billion in October, official data showed.

Reserves turn down in November due to bi-monthly import payments to the Asian Clearing Union totaling about $800 million, the central bank said on Sunday.

According to data, the country’s exports in the period from July to October increased 16.5 percent on the year to $9.75 billion, rose by clothing sales, as the low-cost country retains its allure for cost-crunching global retailers.

Economic growth is expected to slow to less than 6 percent in the year to June 2014 from 6 percent the previous year for political instability ahead of elections scheduled for January 5.

Friday 29 November 2013

RMG exports rises 19% in July- Oct’13

The exports of readymade garments from Bangladesh rose by nearly 19 percent year-on-year in the July-October 2013 period, according to the data released by the Export Promotion Bureau (EPB).
From July to October 2013, Bangladesh’s exported knitwear worth US$ 4.022 billion, showing an increase of 17.85 percent over exports of US$ 3.412 billion made during the corresponding period of last year. Similarly, the country exported woven garments worth US$ 3.864 billion during the four-month period, registering a rise of 20.07 percent over exports of US$ 3.218 billion made during the same period last year, the data showed. Meanwhile, exports of specialized textiles, including terry towel, special woven fabric and knitted fabrics, earned US$ 40.45 million for Bangladesh during the period under review, almost same as the amount earned during the corresponding period of previous year. However, home textiles’ exports from Bangladesh 6.04 percent year-on-year to US$ 243.34 million during the first four months of the current Bangladeshi financial year. Jute and jute goods’ exports also witnessed a dip of 20.66 percent year-on-year, and fetched US$ 262.14 million in foreign exchange for Bangladesh, during the period under review. Cotton and cotton products, including yarn, waste and fabrics, exports during July-October period were valued at US$ 38.59 million, recording a decline of 4.90 percent year-on-year. Compared to garment exports of US$ 21.516 billion made in 2012-13, Bangladesh has set a target of US$ 24.15 billion for 2013-14.

Market showing negative

Trading on the country’s two bourses is underway with downward trend of share-price indices on Thursday. The key index of Dhaka Stock Exchange Broad Index, DSEX, shed over 25 points to stand at 4,242 at 11:20am. Trade deals stood at 23,372 with volume of transactions at Tk 799 million. Of the issues traded, 73 advanced, 120 declined and 33 remained unchanged. DELTALIFE topped the turnover list with shares worth Tk 97 million having changed hands. Following the suit, the Chittagong Stock Exchange Selective Categories Index (CSCX) climbed down to 4341 by dropping over 43 points at about 11:17pm. Out of the issues traded, 30 gained, 81 declined and seven remained unchanged.

Nomination Paper Submission Schedule banks open Saturday

The Bangladesh Bank asked the authorities concerned to keep the schedule banks of the country open on Saturday with a view to submitting the nomination papers of the upcoming general elections.
Assistant spokesperson for the central bank AFM Asaduzzaman came up with the disclosure to banglanews on Thursday afternoon. Meanwhile, the election commission fixed December 2 for the last date of submission of the nomination papers of the 10th national elections.

PRAN, SIDA, Tetra Pak sign deal

An agreement between Tetra Pak, PRAN, UNIDO and the Department of Livestock Services for the joint development project “Sustainable smallholder farmers’ milk production” was signed.
The deal signing ceremony was held at a hotel in the capital on November 24. The project is a public-private collaboration financed by the Swedish International Development Cooperation Agency (SIDA), PRAN and Tetra Pak. Under the supervision of UNIDO, the project aims to scale up the concept of local dairy hubs initiated by PRAN in Bangladesh. A dairy hub is a network of small Village Milk Collection Centres serving small-holder farmers in 20-30 villages and a central Mother Plant to which all milk is transported and then further delivered to a processing factory. Through the hub system, the smallholder famers gain direct access to Bangladesh’s national milk market and the farmer is guaranteed a fair price for the milk. Except for collecting milk, the centres also provide training, advice and other related veterinary services to the farmers free of cost. Through the project, two already existing dairy hubs will be optimised and three new hubs will be established. Each hub is expected to reach about 3,000 dairy farmers and bring about an increase of their income by at least 50 percent by increasing milk production, as stated by Anisur Rahman, Chief Operating Officer of PRAN Dairy. It will benefit about 20 thousand farmers, many of them women. Presently PRAN has two dairy hubs located in Chatmohor and Gurudaspur of Pabna district, he added. Speaking at the ceremony, the Swedish Ambassador to Bangladesh, Ms Anneli Lindahl Kenny, expressed her appreciation that public and private actors in this way can combine funding as well as expertise to reach common goals of development and poverty alleviation in Bangladesh. Ahsan Khan Chowdhury, Deputy Managing Director of PRAN-RFL Group and Musaddique Hossain, Director General and CVO of Department of Livestock Services signed the agreement on behalf of their respective organizations. Zaki Uz-Zaman, head of UNIDO operations in Bangladesh; Sabir Mridha, Key account Manager of Tetra Pak and other officials from SIDA, UNIDO, PRAN and Department of Livestock Services were also present on the occasion.

Tk5,300 finalized as minimum wage

The Wage Board on Thursday finalized the decision of minimum wage Tk5,300 for readymade garments workers at entry-level but the worker’s demand to increase basic salary was ignored.
The decision was come up through the meeting with wage board members, garments owners and workers’ representatives started at around 11:30am. According to the decision, the minimum salary was fixed at Tk5,300 but basic salary Tk2000 was not hiked. With Wage Board Chairman AK Roy in the chair, Arshad Jamal Dipu on behalf of garments owners and Sirajul Islam Rony on behalf of workers and others were present in the meeting. Earlier on November 4, the draft of minimum wage Tk5,300 was approved by the board. On June 3, the government formed an 8-member wage board to re-fix the minimum wage for readymade garments workers.

BRAC Bank distributes warm clothes

BRAC Bank Limited, a private commercial bank of the country, has brought smiles to more than 26,000 poor people in the Northern region by distributing warm clothes well ahead of winter.
Our Northern region is hit hard by severe cold spell every winter. People of the area were touched upon receiving warm clothes well ahead of the winter season. Many poor old-aged people queued up and received the warm clothes. Some broke down in tears after getting the clothes. On receiving a blanket, Abdul Aziz, an 80-year-old man at Bhurungamari in Kurigram, said, “Warm clothes ahead of winter have come as a great help for us. We can now have a good night’s sleep this winter. May Allah bless you.” The initiative carries the warmth of almost 8,000 employees who have donated warm clothes for the less advantaged people of our country. Apart from donating warm clothes, the employees also raised funds to buy blankets to help people survive the imminent and unbearable winter. Every winter, BRAC Bank employees come forward to help humanity. Like previous years, the employees of BRAC Bank donate funds for "BRAC Bank DAUR – Kallayaner Pathchala", an annual marathon to raise funds for humanitarian causes. A portion of these funds has been used to buy the blankets to be distributed among the less advantaged people of our country. Three teams of BRAC Bank distributed 3,500 blankets 6,000 sweaters and 17,000 warm clothes in three areas in the Northern districts--Bhurungamari in Kurigram, Dimla in Nilphamari and Harivasha in Panchagarh.

South East Bank workshop held

A workshop on ‘service quality increase guidelines’ for the officials of the private commercial bank South East Bank Limited was held.
The workshop held recently at South East Bank Research and Training Institute, said a press release. The news release said officials of 29 branches of the bank took part in the workshop. Mosharraf Hossain, director of training institute moderated the workshop. South East Bank Executive Vice-President Mostafizur Rahman, Deputy Managing Director M Shahjahan and Assistant Vice-President Ronald Roset (from left) were present, among others, in the workshop.

Saturday 23 November 2013

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