Sub-continent mirror

Effective corporate governance a must

2012-05-10T02:26:00.000-07:00

Bangladeshi companies needs to adopt good corporate governance practices and standards as the country fixes its eyes on becoming a recognised emerging market, said a top expert.

Philip Armstrong,
Senior IFC official talks about what Bangladeshi companies should do to reach the goal of becoming an emerging market

"In Bangladesh, there is a certain level of corporate governance, but the question is, to what extent is it applied? The country has the same challenges that many emerging markets have," said Philip Armstrong, head of Global Corporate Governance Forum of the International Finance Corporation (IFC).

The forum is a multi-donor trust fund facility located within IFC. It is the leading knowledge and capacity building platform dedicated to corporate governance reform in emerging markets and developing countries.

Armstrong said corporate governance is a mechanism through which boards and directors are able to direct, monitor and supervise the conduct and operations of the company and its management in a manner that ensures appropriate levels of authority, accountability, stewardship, leadership, direction and control.

“Corporate governance ensures the company's growth and stability, balancing economic and social goals by aligning the interests of all stakeholders: employees, customers, suppliers, and communities.”

He said shareholders get higher return on their investment; companies enjoy more robust growth, better access to capital, resilience to crisis and higher market capitalisation.

He said corporate governance is not so much about the regulations or duties and responsibilities of the directors and sponsors. It is more about articulating what are recognised good practices, whether good practices run the board room and good practices in terms of the structure of the board and sub-committees, he added.

He said corporate governance defines what one would expect of a good role of a director, how they conduct in the board and whether they understand their role in the board.

The 57-year-old said in both the developed and developing world, the corporate governance issue is still challenging.

"Historically the OECD (Organisation for Economic Cooperation and Development) principles set the international framework for good corporate governance practices and standards and it has grown in advanced markets. "In developing markets, corporate governance is a challenging issue, given that many of the markets are in various stages of development."

Armstrong, who was born and raised in Zimbabwe, said corporate governance is not an issue that is unfamiliar to the developing market; the question is how to adopt and, more importantly, adapt international standards to local practices and customs.

"One of the things we promote is to ensure that the standards and rules of corporate governance are consistent with the stages of economic development of the country in question."

"It is generally for financiers in a well-run company. The board of directors can rely on the information received from managers in a well-governed company."

He said family-run businesses should not be worried about ceding control over the companies if corporate governance is established within a company.

"The most important part is how you use governance when you make decisions in the company, whether they are family-owned businesses, state-owned companies or private sector listed companies."

"In my opinion, the real focus should be on how corporate governance practices enhance the quality of decision-making and therefore, the benefits and results that derive from the well-informed board in terms of a well-structured decision process."

"Think about corporate governance as important for your business process. Do not see corporate governance as a compliance issue, but something that adds value to your business."

He said there are a lot of corporate governance standards. Bangladeshi companies should look at those standards and practices that really add value to a business. Armstrong said good governance results in not just good returns, but there is market recognition for it, as the market distinguishes the well-governed companies from the poorly governed companies, and makes appropriate choices in that regard.

"For companies with good governance and efficiency to manage its own integrity, ethical and business values, define its long-term sustainability."

He said establishing corporate governance involves both the public and private sector. "I do not think it is the government's responsibility alone or the private sector's responsibility alone. "The government must demonstrate that it follows good governance practices in its procurement practices and when contracts and tenders are ordered."

"The US has some of the world's most rigorous rules on corporate governance. And we still see problems in corporate governance in the country."

"My personal view on corporate governance is much more about behaviour than about rules. The father of three advised Bangladeshi companies to look for the conventional standards on corporate governance and look at the stage of development of the company and what the long-term interests and goals are.

"Corporate governance is a process."

"A company has many stakeholders and a well-governed board understands the market, competitors and customers and its duties and responsibilities very well."

Source – http://www.thedailystar.net/

Indonesia finds Russia jet wreck

2012-05-10T01:57:00.004-07:00

Indonesia rescuers spotted on Thursday wreckage of a Russian Sukhoi aircraft that went missing with up to 50 people on board the previous day in a mountainous area south of the capital while on a demonstration flight.

"The airplane crashed at the edge of Salak mountain ... An investigation must be done immediately and thoroughly," President Susilo Bambang Yudhoyono told a televised news conference.

Radio contact with the Superjet 100 aircraft, Russia's first all-new passenger jet since the fall of the Soviet Union, was lost at about 0800 GMT on Wednesday after it descended to 6,000 feet (1,800 metres) around Mount Salak, a dormant volcano 7,254 feet (2,200 metres) above sea level, officials said.

Rescuers who began searching the heavily wooded area about 40 miles (64 km) south of the capital, Jakarta, at first light were converging on the site of the debris, said search and rescue official Ketut Parwa.

The aircraft was carrying Indonesian businessmen, Russian embassy officials and journalists. Those on board included eight crew and 42 guests according to figures from the Russian embassy, Sunaryo, chairman of Sukhoi's Indonesian agent, PT Trimarga Rekatama, told a news conference late on Wednesday.

The aircraft made two demonstration flights on Wednesday. Sukhoi, which has orders for 170 planes worldwide, plans to produce up to 1,000 Superjets, primarily for foreign markets.

It aimed to sell 42 planes to Indonesia, which is seeing a fast-expanding aviation market that aims to tap travel by a growing middle class in the world's fourth-most populous nation.

The jet was developed with Western design advice and technology from companies including Italy's Finmeccanica, as well as avionics and engine equipment from French aerospace firms Thales and Safran.

Built in a converted corner of a Sukhoi fighter factory in Siberia, the Superjet was unveiled in 2007 as part of a drive to restore pride in Russia's aviation industry, but it ran into a series of development delays.

The aircraft is being marketed internationally in partnership with Finmeccanica subsidiary Alenia Aeronautica.

Source: Reuters, Cidahu, Indonesia

Myanmar wants to share Bangladesh's submarine cable

2012-05-06T22:05:00.001-07:00

Post and Telecoms Minister Rajiuddin Ahmed Raju yesterday said Myanmar wants to share Bangladesh's submarine cable.

“A minister of Myanmar has invited me to visit the neighbouring country to discuss the matter,” he said.

Rajiuddin spoke at a seminar, “Submarine Cable Connecting Ocean Going Countries Economic Maritime Boundary” organised by Institute of Engineers, Bangladesh (IEB) at its seminar room.

The seminar was addressed, among others, by IEB President Md Nurul Huda and honorary secretary Md Abdus Sabur. Engineer Khabiruzzaman presented the keynote paper.

The minister said the existing submarine cable of Myanmar is not adequate to serve its demand. “That's why they expressed their interest to use Bangladesh's submarine cable.”

He, however, did not make it clear whether Bangladesh would allow Myanmar to use it.

The minister also said the government would launch the much-hyped 3G mobile phone in July or August, while the 4G mobile service in December.

In his presentation, Khabiruzzaman said presently 9 million people in Bangladesh are using internet services while the global users of internet are 2.5 billion.

He said 58.5 percent (86.5 million) people of the country are now using mobile phone, while its global users 5.6 billion people or 80 percent.

Yunus, Abed talk garment exports with Hillary, seek free access to US

2012-05-06T21:46:00.000-07:00

To allow Bangladeshi garments duty-free access to the US market to help create local jobs, especially for women, Nobel laureate Prof Muhammad Yunus and BRAC Chairperson Sir Fazle Hasan Abed yesterday urged US Secretary of State Hillary Clinton

They met Hillary at a breakfast meeting at the US ambassador's (Dan W Mozena) residence in Gulshan, Dhaka.

Prof. Yunus said- if Bangladesh's garment exports get duty-free access to the US, it would give an impetus to women empowerment in Bangladesh.

"We already have major changes in women's empowerment. If we get the access, several millions of women will get jobs. You (the US) will have to consider it from this aspect," Yunus told reporters after the meeting.

The demand for such access to the US market, the single largest export destination of Bangladeshi products, is a much-hyped issue as Bangladesh, despite being a least developed country, pays high tariff for the access.

The largest maker of apparel after China and a key garments supplier to Wal-Mart Stores and Tommy Hilfiger, Bangladesh pays an average 15.3 percent duty on its US exports.

Exclude garments, the main export item of the country, which employs three million people, majority of them women, ninety-seven percent Bangladeshi goods have duty-free access to the US market,

Bangladesh pays the US more than $600 million in duty per year, which is almost equivalent to the annual aid the country gets from the US.

Last year, Bangladesh exported goods worth $4.59 billion to the US and imported goods worth $1.09 billion, according to the American Chamber of Commerce in Bangladesh.

Dr Yunus, the Grameen Bank founder, said the special trade treatment is not a business topic only.

“We are talking about business, but the most important thing is that it (duty-free access) will create more employment opportunities,” he said.

“This should be considered from the point that it will make women more independent,” he added.

"She has paid special attention to our demand for the duty-free access of Bangladeshi products. She has not given any immediate assurance, but said that she would consider it," Yunus said, referring to Hillary.

From the impression of the US secretary of state, it appears that Bangladesh has a possibility of getting the duty-free access, said Sir Abed.

The comments from Prof Yunus and Sir Abed came just a week after Prime Minister Sheikh Hasina urged the US to allow such access to boost trade relations between the two countries.

"Bangladeshi products get a duty- and quota-free access to the European Union and many other developed countries. India has also provided us with the privilege for our garments products. So why not the US?" the prime minister questioned, during a meeting in Habiganj on April 30.

"The US is a big country and a big market…It is our people's demand for a duty-free access to the US," said Hasina.

The US offers the benefit to all the least developed countries except Bangladesh, she pointed out. "I don't know why."

The Grameen Bank founder said the issue of microcredit, its future and what other countries are doing about the financial tool were also discussed at the meeting.

"She wanted to know about the condition of Grameen Bank. I have explained the issue to her," Yunus said without elaborating.

Prof Yunus also briefed Hillary on the advancements that took place among the poor women and their children in Bangladesh since her last visit to the country.

He also briefed her on the progress made by Grameen Bank and the problems the bank is facing currently.

Dr Yunus also updated Hillary on the 54 independent companies he set up, which the government plans to bring under the control of Grameen Bank.

Yunus said he mentioned the electricity crisis as a major problem for the country and they have sought support from the US in establishing a regional energy network with Nepal and Myanmar.

Bangladesh is desperately trying to meet its growing energy demand and is seeking to forge partnerships with neighbouring countries to import electricity.

Source: The Daily Star

Some Bangladeshi Garments Manufacturer’s name, contact person and their email mail id

2012-05-03T03:41:00.003-07:00

A.N. Garments Ltd 114 Md. Nurul Islam angl@aitlbd.net

Adonis Garments (Pvt.) Ltd 538 A.B. Moinuddin Hossain k2ahsan@yahoo.com

Amotex Ltd. (Woven Unit) 4819 Engr. Mosharraf Hussain info@standard-group.com

Angels Composit Knitting Inds.(Pvt) Ltd. 2500 Md. Giasuddin Murad angelstex@dhaka.net

Anindya Apparels Ltd. 4080 Md. Anwaruzzaman

Anupam Hosiery Inds. (Pvt.) Ltd. 760 Nafis Kamal nafis.kamal@gmail.com

ARBA Garments & Industry Ltd. 4180 Md. Abdul Ahad Ansary arzu-rk@yahoo.com

Asia Apparels Manf. Co. (Pte.) Ltd. 948 Md. Mortuzar Rahman mortuza@bdmail.net

ASM Garments Ltd. 3084 Md. Abu Solaiman Khan jkgroup@aitlbd.net

ATN Collection Ltd. 4842 Dr. Mahfuzur Rahman atn@agani.com

Avenue Apparels 2141 S M Kawsar Jahan Mustafa avenueapparelsbd@gmail.com

Ayasha & Galeya Fashions Ltd. 4365 Md. Shariful Islam (Sharif) agfashions@dhaka.net

Azmeri Composite Knit Ltd. 3715 Anwar Kabir Chisty Azmeri azmeriinfo@dekko.net.bd

B.P. Sweater (Pvt) Ltd. 2582 Narayan Chandra Nath fancy@bdonline.com

Balaka Apparels Ltd. 2666 Bishajit Paul paulsudip@ngapparels.com

Basuni Knitting Mills Ltd. 4848 Mohammad Rahim

Bonny & Bonny Apparels (Pvt) Ltd. 4440 Md. Azharul Islam 01911-344483 bonnyapp@dhaka.net

Bunon Sweater (Pvt.) Ltd. 4816 Omar Faruque

Capri Garments Ltd. 1067 Mozammel Hossain 01711567041 capri@bdonline.com

Century Knitwear Ltd. 1874 Mahmudun Nabi Chowdhury 9861854 percent@bdcom.com

Cheery Knit Collection Ltd. 4836 Mostak Ahmed info@cheeryknit.com

Chowdhury Associates Ltd. 3254 Md. Farhad Noor Chowdhury snc805@yahoo.com

Cocoon Apparels Ltd. 4843 Md. Kamruzzaman cocoonbd@gmail.com

Dewan Fashion Wears Ltd. 974 Md. Golam Nobi Dewan

Dewan Textile Mills Ltd. 1334 Md. Golam Faroque Dewan dewantex@bdcom.com

Dignity Garments Ltd. 112 A.B. Moinuddin Hossain k2ahsan@yahoo.com

Dress Me fashion Ltd. 4809 Md. Tawheed Hossan info@tnbro.com

Dudi Knit Fashion Ltd. 4846 M.A. Halim

Eebana Fashion Designs Ltd. 3307 Ruksana Hossain nerob@e-fsbd.net

Ever Youth Company Ltd. 4389 Md. Saiful Hasan evyouth@bdonline.com

Everest Garments Ltd. 240 Md. Arif Hossain nal@citechco.net

Fabrica Knit Composite Ltd. 4827 Engr. S.M. Mizanur Rahman

Fashion Craft Knit Wear Ltd. 3397 Mohd. Rajib Hossain

Fiat Fashion Ltd. 4835 Md. Abul Kalam Azad

Gold Land International Ltd. 3182 Bina Bhowmik 01711561539 mohan@landmark-grp.com

Good Guys Ltd. 3651 Dilip Kumar Sarkar

Graphics Textiles Ltd. 4825 Najib Malek Chowdhury contact@graphics.com.bd

Haidory Composite Knit Kit Wear Ltd. 3807 Dr. Syed Abdullah Md. Taher

Haidory Textile & Garments Ltd. 1808 Syed Abdullah Mohamamd Sadek haidory@babaninet.com

Hannan Knit & Textiles Ltd. 4840 A.B.M. Shamsuddin

HQ Knitwear Ltd. 4815 Mizanur Rahman

J.M.S. Composite Knitwear Ltd. 4828 Mazharul Hasan info@jmssckl.com

Jahanara Fashions Ltd. 1350 Shahin Kabir jfl001@dhaka.net

Jinnat Knitwears Ltd. 4818 M.A. Jabbar 01711537965 info@dbl-group.com

KC Apparels Ltd. 4823 Jahangir Hossain Mollah 01711-560898 info@knitconcern.com

Kuliarchar Fashions Apparels Ltd. 850 Md. Musa Meah

Lithium Knit Fabrics Ltd. 4839 Md. Ramjhan Ali

Lodestar Garments Ltd. 558 Engr. Wazir Ahmed Chowdhury uniqueblimited@yahoo.com

Lovely Garments Ltd. 465 Triptimoy Sarker lovegmts@aitlbd.net

Lucent Sweaters Ltd. 4951 Md. Mostafa 01745-667973 lucentsweater@gmail.com

Maa Moni Apparels 4822 Md. Yousuf Sadeque faa@citechco.net

Macro Knitwears Ltd. 3503 Mohidul Islam Bhuiyan mkw@bol-online.com

Mahbub Knit Fashion Ltd. 3301 Al-Haj Ahmedur Rahman mia@bangla.net

Marina Knit Fashions Ltd. 1494 Rajibul Huq Chowdhury

Mascot Fashion Wear Ltd. 1336 S.M. Rezaul Haque (Tapan) mascot@neksus.com

Max Reliance Apparels Ltd. 879 Mustafiz Ur Rahman reliance_fashion@speed69.net

May Apparels Inds. Ltd. 2139 Md. Shahadat Hussain 01711-537101 info@voyagergroup-bd.com

Mervellous Fashion Ltd. 2583 Md. Mosharraf Hossain

Muazuddin Knit Fashion Ltd. 4821 Md. Lutfor Rahman info@muazuddintextile.com

Muntaka Apparels Ltd. 4831 Amjad Hossain 01197-162821 miton_haq@yahoo.com

Mushroom Garments Ltd. 1592 Hosneara Haleem mushroom@agni.com

Muslin Textile Mills Ltd. 2329 M. Hasan Shibly tamalh@bdmail.net

N & N Fashion Ltd. 1198 Neena Chowdhury neena@citechco.net

N.B. Garments Ltd. 838 Abdul Mannan Sarker

Nethee Apparels Ltd. 2415 Dr. Mohd. B. Hossain Sharif nerob@e-fsbd.net

Niaz Garment Industry (Pvt.) Ltd. 1747 Major Kazi Mazedur Rahman (Retd

Noman Apparels 2569 Mohmmad Abdulla shantex@bdmail.net

Panagea Fashion Wear Ltd. 4845 S.M. Rabiul Alam

Pantaloon Fashion Ltd. 4832 Md. Harun-Ar-Rashid mail@eastwestindpark.com

Pantex Ltd. 1884 Masudur Rahman

Petronas Sweaters Ltd. 4811 Md. Manik Miah info@petronassweaters.com

President Apparel Ltd. 55 Md. Zakaria

R.R. Products Ltd. 1153 Sultanuddin Ahmed

Radiance Jeans Ltd. 4837 Md. Shahidul Islam (Shahed) mis@radiancegroup-bd.com

Rahman Knitting & Yarn Processing Inds. (Pvt) Ltd. 1596 Al-Haj Md. Fazlur Rahman rahmangp@citechco.net

Ratna Fashion Ltd. 3349 Rajibul Hoque Chowdhury

Recent Fashions Limited 2345 Hafizur Rahman 01819222174

Running Fashions Ltd. 4852 Abdul Hakim Sarker 01919-140028 ahakim@sydney-ehsanbd.com

Sanjari Toys (Pvt.) Ltd. 1368 Md. Sahjahan

Seasons Dresses Ltd. 4817 Bahauddin Chowdhury Baker baker@mifkif.com

Shahjalal Knit Fashions Ltd. 3534 Habibur Rahman (Habul Sk.) shahjalal@dhaka.net

Shishir Apparels Ltd. 1201 Shamsul Alam Bhuiyan shishir@bdcom.com

Sidko Apparels Ltd. 2512 M. K. Siddiqi 01711540954 saka@global-bd.net

Sigma Fashions Ltd. 4824 Md. Mizanur Rahman sigmagroup@sigma-bd.com

Solitaire Knit Wears Ltd. 4267 Hafiz Ahsan

SQ Crystal Celsius Ltd. 4813 M Ghulam Faruk

Sujas Garments (Pvt) Ltd. 4810 Nayeem Hasan Suja 01713-066902 concept@bangla.net

Supasox Limited (U-2) 4108 Towhid Samad

Surma Garments Ltd. (U-2) 4107 Faisal Samad log@savartex.com

Sylvana Apparels Ltd. 1229 Mohammed Jamal

Target Fine Wear Inds. Ltd. 4826 Azharul Islam Bhuiyan info@targetgroupbd.com

Tasniah Fabrics Ltd. 3547 M. Nurur Rahman

Textile N Design Ltd. 3076 Shameem Ahmed tshirt@bol-online.com

The Chic Wear Ltd. 229 Ehtesham Chowdhury chic@optimaxbd.net

The Civil Engineers Ltd. (Sweater Unit) 4834 Engr. Mosharraf Hussain info@standard-group.com

The Knit Apparels Industry Ltd. 1743 Md. Saidur Rahman acfi@bd-mail.net

Triple Seven Apparels Ltd. 4838 Md. Maksudur Rahman

Urfi Garments Ltd. 1304 Md. Ashraful Islam nissanbd@citchco.net

Venture Apparels Ltd. 1987 Dr. Mahmudul Karim

Venus Fashions Ltd. 1499 Al-Haj M.A. Motaleb venus@global-bd.net

Versatile Attire Ltd. 4829 Mustafa Imrul Quayes

Vintage Knitwears Ltd. 4307 David Christopher Cholet tareque@vintagegarments.com

Woolsey Knitwear Ltd. 4812 H.M. Mohsin Uddin woolsey-bd@yahoo.com

Yongtai Inds. (BD) Ltd. 4814 Hossain M. Zahedi zahedi@yongai.net

Youngones (Bangladesh) Ltd. 2 Naveed Hashmet yobctg@globalctg.net

Zamila Sweaters Ltd. 4844 Md. Ziaul Kawser

Zeem Sweater Ltd. 4833 Md. Shahidul Islam zeemsweaters@yahoo.com

Zuma Fashions Ltd. 4830 Rony Marian 416-2424775 rony@kamazu.com

786 Garments & Textiles. 674 Kamran Sadique ksadique@pradeshta.net

India, Pakistan try 'trade diplomacy'

2012-05-03T03:01:00.001-07:00

Source: Afp, New Delhi

Pakistan and India, still at loggerheads on Kashmir and no closer to a full peace deal, are channelling their efforts into increasing trade in the hope that business can bring them together.

31 year-old Karachi food trader Kashif Gul Memom is among those eager to seize the opportunities offered by easier links between the estranged neighbours, which have fought three wars since independence in 1947.

"This is a change for the good. It's an exciting time," Memom said, one of the generation born after the painful partition of the subcontinent that gave birth to India and the Islamic republic of Pakistan.

Memom told AFP "My generation of business people is putting the past behind us. We're looking to the future, India is such a huge market for us," - while at the largest ever Pakistani trade fair held in India.

The improved relations between the nuclear-armed rivals stem from Pakistan's decision to grant India "Most Favoured Nation (MFN)" status by year end, meaning Indian exports will be treated the same as those from other nations.

In further progress, the neighbours opened a second trading gate in April along their heavily militarised border, boosting the number of trucks able to cross daily to 600 from 150.

India now also says it is ready to end a ban on investment from Pakistan and the countries are planning to allow multiple-entry business visas to spur exchanges -- a key demand by company executives.

The warming commercial ties underline the new relevance of the private sector in the peace process, with prospects still low for any swift settlement of the "core issue" of the nations' competing claims to Kashmir.

The divided Himalayan territory has been the trigger of two of their three wars since independence.

Indian and Pakistani officials have been looking at the so-called "China option" as a model, with deepening economic engagement seen by experts as crucial to establishing lasting peace in the troubled region.

New Delhi and Beijing have been pursuing stronger economic ties while resolving outstanding political issues, such as a festering border dispute that erupted into a brief, bloody war in the 1960s.

"There is no other option but economic partnership between India and Pakistan -- this leads on to other partnerships," Indian Commerce Minister Anand Sharma said at the April trade fair in Delhi, a follow-on to a similar venture in Lahore earlier in the year.

US in wealth by 2030, says ADB

2012-05-03T02:53:00.001-07:00

China and India together (Southeast Asian nations) may surpass the US and Europe combined in terms of wealth by 2030 if the Asian economies take quick steps to overcome challenges and reduce risks, according to a new book.

“The Asean is the hub of Asian regionalism. China is the world's most populous country and the second largest economy. India is rapidly catching up, and has the second largest population," the book says.

"Asean, the PRC, and India: The Great Transformation?" was released by the Asian Development Bank and Asian Development Bank Institute in Manila yesterday, the bank said in a statement.

The book envisions that realising this goal would require that each improve productivity through innovation and new technologies, establish knowledge-driven economies, build seamless infrastructure connectivity and reform the financial sector.

“These three region and countries are on a path to significantly improve the quality of life of their citizens -- in aggregate approaching half of the world's population by 2030,” ADB President Haruhiko Kuroda said at the book launching ceremony.

The programme took place during the 45th annual meeting of ADB's Board of Governors at San Miguel Hall of Philippine International Convention Centre, Manila.

“By that time, China could reach high-income country status, while the Asean as a whole and India would be close behind. The three could be home to the world's leading consumers, producers, savers, investors and financiers,” he said.

The book said the three economies will have to depend increasingly on their own and regional markets, investments, and institutions to generate sustained growth.

Without inclusive growth, widening income and social inequality are likely to persist and could undermine social cohesion and stability, according to the book.

Strengthening governance, accountability, institutional effectiveness and eradicating corruption are crucial for inclusive growth and better quality of life, it stated.

The book predicted that unless the challenges of energy and water security and reduction of CO2 emissions are addressed, these could amplify global environmental risks and geopolitical tensions.

To meet their potential, each economy will need to manage energy, food, and water effectively, balancing growth with environmental sustainability, it said.

Beside that, an Observer said “Possible only if these countries could be corruption free or if their corruption level could be near to present day's European/US corruption. But I doubt it very much”

source: the daily star

US drone kills 3 Pakistani

2012-04-29T23:39:00.003-07:00

Three militants were killed and two others wounded in a US drone attack in Pakistan's restive tribal region near the Afghan border yesterday, security officials said.

The drone fired two missiles targeting a militant compound in Miranshah, the main town in North Waziristan, known as a stronghold of Taliban and al-Qaeda-linked militants, they said.

US pastor burns Al-Quran again

2012-04-29T23:38:00.001-07:00

Controversial US pastor Terry Jones has burned more copies of the Quran and a depiction of the prophet Mohammed to protest the imprisonment in Iran of a Christian clergyman, The Gainesville Sun reported.

The newspaper said Jones and another pastor, who carried out their protest in front of their church in Gainesville, Florida on Saturday, demanded the release of Christian pastor Youcef Nadarkhani from an Iranian prison. Jones said Nadarkhani faces execution.

In March 2011, Jones' assistant, pastor Wayne Sapp, burned a copy of the Koran and broadcast the ceremony on the Internet. The images incited violence in northern Afghanistan, in which at least 12 people were killed.

Source-(Afp, Miami)

Frog Enjoys Sitting !!

2012-04-29T01:25:00.004-07:00

World Frog Preserving Day Observed on 27th April 2012 at Chittagong and Elsewhere Over Bangladesh

The Slogan of The Day Was "Our Role In Preserving Frogs".

This frog takes a break from hopping around the pond to get in a little rest.

See the Vedio

http://screen.yahoo.com/frog-enjoys-sitting-29084485.html

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Myanmar is reopening to the world-UN chief

2012-04-29T01:06:00.001-07:00

UN Secretary-General Ban Ki-moon made a landmark visit to a fast-changing Myanmar on Sunday to encourage its government to carry out more democratic reforms and shore-up peace deals with ethnic rebel groups.

Ban's trip was his first since a reformist, quasi-civilian government took office a year ago, ending five decades of authoritarian military rule and frosty and frustrating ties with the international community.

The government, which is still led by remnants of the former junta, has stunned the outside world with economic reforms and unprecedented engagement with the West, the political opposition and ethnic minority rebel groups, moves Ban said were encouraging, but still not enough.

"We see Myanmar is reopening to the world," he said earlier in New York, adding that "the fresh start is still fragile".

Ban arrived in the commercial capital Yangon and will see a Myanmar that has undergone astonishing changes since his last visit in July 2009 on the invitation of former junta strongman Senior General Than Shwe, which was widely seen as a stunt to boost the regime's credibility at home.

Ban left frustrated, describing it as a "very difficult mission" having failed to convince Than Shwe to release political prisoners and being denied access to Nobel Peace Prize laureate Aung San Suu Kyi, who was in detention at the time but was released 15 months later.

Since Than Shwe stepped aside on March 30 last year, four months after an election seen as rigged, its former fourth-in-command Thein Sein has become president and has brought Suu Kyi into the political fold.

STUNNING FACELIFT

His government has started overhauling the tattered economy, easing media censorship, legalizing trade unions and protests, freeing political prisoners and agreeing ceasefires with more than a dozen ethnic rebel armies.

Ban was due on Monday meet Thein Sein and other former generals who were part of Than Shwe's inner circle but now seen as key drivers behind Myanmar's stunning facelift, which has led to an easing of some sanctions this month by the European Union, United States, Australia and Canada and a resumption of aid and debt relief by Japan.

Ban was scheduled to fly to the remote capital Naypyitaw later Sunday. His visit will include a trip to northern Shan State, one of the world's biggest opium-growing regions, where the United Nations has started poppy eradication program it says has seen significant progress.

Ban is also due to discuss a census the United Nations is helping Myanmar to compile by 2014, its first in over 30 years and is scheduled to give an address to Myanmar's huge new parliament on Monday, the first by a foreigner.

The parliament, which has a 25 percent quota for the military and is stacked with retired generals, was written off as a rubber stamp to give Myanmar a democratic facade, but it has proven to be more effective than was anticipated.

Suu Kyi's National League for Democracy party was due to make its debut in the parliament last week after an historic by-April 1 by-election win, but it is still refusing to take its seat because of a potentially troublesome dispute over the wording of a swearing-in oath.

Ban, whose visit to Myanmar follows that of EU Foreign Policy Chief Catherine Ashton, has said he hopes the problem will be solved and is due to meet Suu Kyi in Yangon on Tuesday.

Which economic model should Bangladesh choose?

2012-04-29T00:57:00.001-07:00

Bangladesh stands at a crossroads; behind it lies its difficult economic past while ahead lies the promise of a much brighter future. However the route to that brighter future is by no means direct. Bangladeshis must collectively decide how to get there. The West, led by America, offers one model of growth which is driven by the free market and mass consumption. Essentially, this western model believes that individuals (either people or firms) should bear the risk -- and reward -- of success or failure. It espouses low taxes, few regulations and individual ownership of the factors of production. While this model certainly works, it works more for some than for others, generating a lot of inequality amid the wealth it creates. As one of my economics professors used to say “do not confuse efficiency with equality”.

OTHER EXISTING MODELS

Alternative models believe the investment risks faced by an economy are enormous, unknowable and far greater than any individual group can effectively manage. This model believes that risk must be managed collectively by government so growth may be slower but it is far more stable and equitable. The strengths and weakness of these two systems is still debated around the world but many countries have quietly slipped off to adapt their own models according to the structure and history of their individual society. China is one clear example but we have also seen that what works in Singapore cannot be done in, say, Brazil and what can be achieved in Norway will not necessarily work in the USA.

WHAT WE DO KNOW

What is evident is that a broad, diverse ownership of assets, where all stakeholders' concerns are considered, leads to positive social outcomes. We know that the power of the free market -- where the price mechanism determines how resources should be allocated -- is extremely efficient. We want to see all of society benefit but we also know all about “the dead hand of government”. We know there is an innate desire within mankind to better his life and that of his family. We have also seen that the mass consumption/resource depletion model of the west is wholly unsustainable and will devastate future generations.

SO, WHAT WILL WORK FOR BANGLADESH?

Bangladesh is a homogenous society, densely populated with few natural resources. So, on the surface it is sounds more like Japan than America, but of course, Bangladesh is no Japan; Bangladesh is uniquely Bangladeshi combining Islamic faith, Bengali culture and the family unit.

SOCIAL ENTREPRENEURSHIP

It seems that Bangladesh may be best suited to a model of broad social entrepreneurship. This model recognises the value of competition, the rules of finance and the importance of the individual in fostering creativity and innovation. At the same time it harnesses the profit motive so that the benefits of business success accrue to more than a fortunate few risk takers. Investors can recoup the money invested, with interest, but beyond that dividends are mainly paid through the achievement of social objectives (healthcare, education and housing). The roots of social entrepreneurialism extend back hundreds of years but one of the most commonly recognised variations -- microfinance -- originated right here in Bangladesh and has been rapidly adopted around the world.

Perhaps Bangladesh should become a hotbed of social entrepreneurialism where the concept is taught in schools and universities and embraced by the wider business community. It is certainly a model that appears to accord with many Bangladeshis I have met and spoken -- especially the all-important younger generation.

-------BY-------

William Westgate is an economist and director of London Training Services and also lectures at Regent College in Gulshan, Dhaka. He can reached at wwestgate@gmail.com.

Equal Duty for All- Bangladesh Car Importers Demand

2012-04-29T00:52:00.004-07:00

Dealers of reconditioned vehicles demanded the government equalise the import duty structure of old and new cars to ensure fair prices on the local market.

The equalisation of import duty of reconditioned and new cars will remove the discriminatory prices in the local market while the government will be able to realise a significant amount of additional revenue, they said.

“We also demand revision of the CC slabs (cubic centimetre), engine power, of both reconditioned and new vehicles for fixing the prices of imported cars,” Abdul Mannan Chowdhury (Khosru), president of Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA), said in a press briefing in Dhaka.

“We want a level-playing field in tax structure on imports of both used and new cars,” he said.

Abdul Mannan claimed some dealers import low-quality new vehicles from different countries and sell those at low prices.

The of Japanese reconditioned vehicles durability and quality are higher than many other countries new cars, he added.

“But the government fixed higher duty on imports of reconditioned vehicles from Japan,” he said. “As a result, import of such reconditioned vehicles also declined for thin sales in the local market.”

For new vehicles, the customs value is lower compared to their actual price and the practice of under-invoicing of actual price is common and, as a result, the government receives lower taxes, he said.

On the other hand, in case of reconditioned vehicles, the customs value is significantly higher than the actual price because of the unjust depreciation method, which is diminishing the market, he said.

“A consolidated 60 percent depreciation slapping is appropriate,” he said. He also proposed a revised duty structure and a revised CC of the imported vehicles for fixing the prices.

He proposed 30 percent import duty for up to 1,000cc, 45 percent duty for 1,001-1,800cc, 100 percent duty on 1,801-2,500cc, 250 percent duty on 2,501-3,000cc, 350 percent duty on 3,001-3,500cc and 500 percent for vehicles of 3,500cc and above.

Bangladeshi computer whizz kid eyes record books

2012-04-29T00:19:00.000-07:00

A six-year-old boy from Bangladesh is hoping to become the world's youngest computer expert after becoming obsessed with his mother's PC at the age of two.

Wasik Farhan-Roopkotha-BBC Online

Wasik Farhan-Roopkotha, who turned six in January, is hoping his skills will be recognised by Microsoft and Guinness World Records.

As a toddler, Wasik started to show an aptitude for computers and before long he had mastered several popular video games, including Modern Warfare and Metal Gear Solid.

He began typing in Microsoft Word as a three year-old and knew how to programme and download game emulators at the age of four.

His mother Cynthia Farhan-Risha said: "I knew he was very different since his birth. I couldn't believe my eyes when he began computing when he was just seven months old.

"Wasik started to play and master many complicated games and started installing them just after he turned two and also started typing in MS Word from around the same time."

By the time he was of school age, Wasik was not integrating at his local primary and so his parents decided it was best for him to be taught at home.

According to his mum, Wasik's English is still fairly limited. But he did have a few words to say in Bengali.

"I really enjoy playing on the computer and learning new skills," he told the BBC.

"My ambition is to be a computer expert and to work for a big computer firm in the future."

Wasik - who comes across as a very quiet young boy - has now been working with computers for more than four years, but he still enjoys mixing with other children of his age, playing football and listening to music.

However, computers are his main passion and his parents are determined that their son will not let his talents go to waste. They are hoping to get some government funding to help him fulfil his potential.

'Fantastic career'

"If Wasik receives the right support here in Bangladesh and from the best colleges and universities in the world then who knows what he will go on to achieve. I think he is in on the right track at this stage of his development," Farhan-Risha says.

"My son has achieved so much already without any computer training or guidance. He has already gained some knowledge of C++, which is one of the most popular programming languages. He is also able to write sentences on a keyboard efficiently and swiftly without having to look at the keyboard.

"As a mother, I dream that in the future he will go on to become a great computer scientist and help to introduce a new episode in the cyber world," she added.

Wasik has already received extensive media coverage in Bangladesh.

"He has visited several IT institutions in and around Dhaka, who have all said positive things about his talent," his mum says.

"Although he is still very young, everyone that I have met believes Wasik can certainly go on to have a fantastic career in the world of computer programming."

'Discipline and focus'

Farhan-Risha says she also hopes to get Wasik mentioned in Guinness World Records "because currently they do not have anyone listed as the youngest computer programmer in the world".

"But we will have to wait and see and as long as Wasik continues to progress then the world can become his oyster," she says.

Guinness World Records said: "We do not monitor such a record in our database at the moment, but Wasik's family is welcome to make a claim on our website."

Like many parents with gifted children, Wasik's parents say they have struggled to rein in Wasik's behaviour. He can sometimes show signs of stubbornness, but his parents hope to keep his feet firmly on the ground.

Farhan-Risha explained: "Since he was very young, Wasik has tried to get his own way. For example, he wouldn't have his meals without us letting him go on the computer.

"It was awkward for us to find the right balance, but we realize that every child needs discipline and focus.

"We hope to keep him grounded and as he grows older let him know that he has been blessed with a gift which he shouldn't take for granted."

Source - BBC Online

Golden Bangladesh hinges on youth : Mozena

2012-04-28T23:45:00.001-07:00

Brighter days beckon Bangladesh and the youth should realise that potential, US Ambassador Dan Mozena said yesterday.

"The dream of Golden Bangladesh can be a reality within a decade or two," Mozena told a gathering of several hundred young people.

The US envoy spoke at the concluding session of the three-day Youth Leadership Summit organised by Bangladesh Youth Leadership Centre (BYLC). Some 450 delegates from all over the country joined the event.

The envoy said building Bangladesh up into a middle-income country with an improved quality of life for its people will not be easy.

"The Golden Bangladesh will not just happen like that. People will have to make it happen. Those people are you," he told the youths at Bashundhara Convention Centre.

Mozena said Bangladesh is truly a blessed country. "It has a unifying culture, language and spirit," he said, praising energy, creativity and resilience of Bangladeshis.

He said Bangladesh's soil is rich and productive and it has ample water and abundant natural resources, Mozena said.

"The private sector and the entrepreneurial spirit thrive," he said and expected that Bangladesh should be the world's largest readymade garment and home textile exporter.

He also hoped Bangladesh should be a major global player in building freighters, in information technology, pharmaceuticals, finished leather goods, seafood and in finding new uses for jute.

The youths are the future and the leaders of Bangladesh, he added.

"America will be your partner in this task," he told the youths who were mostly university students. “The new challenging Bangladesh, the Golden Bangladesh, awaits your renaissance. The time is now,” he said.

Mozena said the US will open its Edward M Kennedy Center for public services and arts in collaboration with the Liberation War Museum.

Foreign Secretary Mohamed Mijarul Quayes, Cofounder and Principal of Cambridge Leadership Associates Marty Linsky and Founder and President of BYLC Ejaj Ahmad also spoke.

HILLARY CLINTON

The visit of US Secretary of State Hillary Clinton early next week will deepen bilateral ties between Bangladesh and the USA, Mozena said.

EU urges 'irreversible' Myanmar reforms

2012-04-28T23:39:00.002-07:00

The EU's chief diplomat urged Myanmar to make its progress towards democracy "irreversible" after meeting Aung San Suu Kyi yesterday amid Western efforts to bolster reforms in the former pariah state.

Catherine Ashton meets Suu Kyi in Yangon yesterday

Catherine Ashton's visit for talks with the newly-elected opposition leader and government comes days after the EU suspended a wide range of sanctions against the long-isolated country to reward its recent political reforms.

Ashton, who hailed a "new chapter" in relations with Myanmar Friday, met Suu Kyi in Yangon as the Nobel laureate and her party grapples with a dispute over a swearing-in oath that saw them delay their parliamentary debut this week.

"This is a process of change. I hope that we will see all the elements come into place to make it an irreversible process that can move forward," Ashton said at a press conference when asked about the oath impasse.

"On that journey there will be many things that need to be done, many things that need to be worked out," EU's foreign policy chief added.

Myanmar, which languished for decades under a repressive junta, has seen a thawing in its relations with the international community as a result of reforms since a controversial 2010 election brought a civilian government to power -- albeit one with close links to the military.

The European Union has responded to what it said were "historic changes" in Myanmar by suspending for one year a wide range of trade, economic and individual sanctions, although it left intact an arms embargo.

Ashton is also set to open a new EU office in Yangon that diplomats say will mostly oversee the management of aid programmes but also have a political role.

Ashton, who will hold talks with President Thein Sein in the capital Naypyidaw on Monday, told reporters that she would "welcome the way in which he is moving forward" and "urge him to do more" at the meeting.

AFP-YANGON

Preparing for the new Bangladesh

2012-04-28T04:11:00.003-07:00

What makes some countries rich and others poor? How can one tell when a nation is poised for economic development and prosperity? In the scheme of things, there are a few more important questions worth answering. The “Father of Economics” Adam Smith observed quite rightly over 200 years ago that “Little else is requisite to carry a state to the highest degree of opulence from the lowest barbarism but peace, easy taxes, and a tolerable administration of justice: all the rest being brought about by the natural course of things.”

Of course, Adam Smith was a supreme believer in the natural industry of mankind, but once a country begins on the road to prosperity, history shows that it is very difficult to divert that path. By almost any measure, Bangladesh is now on that path. Of course, in our hectic, stressful daily lives it is not always easy to recognise the long-term trends that are unfolding under the surface. The media is usually full of stories of countless social problems such as crime, corruption and congestion and the personal anecdotes we hear are often similarly depressing. Thus it will always be; it was the same during the economic development of every country from America to Korea to Brazil.

TRAFFIC IS ACTUALLY GOOD NEWS

For instance, let us consider Dhaka's notorious traffic congestion. That is actually good economic news because it reflects rising incomes. The first thing people do when their incomes rise is to buy consumer goods and cars, but it takes nation years to build the required transport infrastructure. All the world's great cities have suffered this problem. Truly bad news is no traffic problem as that reflects stagnant incomes.

“THE RULE OF 70”

One of the most powerful forces in nature is compounding growth or “the exponential function”. When something is growing at 10 percent per year, that means it will double in size in seven years (70 divided by 10 percent = seven). If something grows at 2 percent, it will take 35 years to double (70/2), and so on. Bangladesh's economy is growing at a rate of nearly 7 percent which means the total value of goods and services this nation produces is set to double from current levels in just 10 years by 2022. This is a similar rate seen across many developing nations over the past several years and the economic and social change is transformational. And, all this occurs as we are stuck in traffic worrying about the latest personal or social problems.

POWER OF THE MIDDLE CLASS

History also shows us that as the middle class expands, corruption necessarily declines because, unlike the very rich and the many poor, a middle class of merchants and entrepreneurs cannot -- and will not -- tolerate corruption.

THE NEW BANGLADESH -- AN EMERGING ASIAN TIGER

For years, many Bangladeshis have wanted to emigrate to the West. But the West now looks to have entered a sustained “post growth world”. The West may still be a pleasant place to live, but South Asia is now where all the action and opportunity lays. The secret in business is always to be where the growth is. Although it may not always feel like it, Bangladesh is the right place -- and now is the right time. Indeed, increasingly the new recommendation must be “Go East, young man!”

By - William Westgate, an economist and director of London Training Services, lectures at Regent College in Gulshan, Dhaka. He can be reached at wwestgate@gmail.com.

Source -www.thedailystar.net

Bangladesh ready to be an Asian tiger: US Ambassador-Dhaka

2012-04-28T04:03:00.001-07:00

The major challenges to establish a golden Bangladesh include corruption, difficult investment climate, poor communication system, and political instability, US Ambassador in Dhaka Dan Mozena said.

"But these challenges are surmountable and Bangladesh is ready to be an Asian Tiger", he said and added, "I envision a Bangladesh that is the world's largest exporter of readymade garments, household textiles and self-sufficient in food".

He stressed women's empowerment and participation at every level for the entire development of the country. "If you want meaningful development, and lasting, sustainable change, you must work with women".

The US ambassador was speaking at the unveiling ceremony of a directory styled "Who's Who: Bangladeshi Women at a Glance" organised by the Bangladesh Alliance for Women Leadership (BDAWL) at a city hotel yesterday.

The directory contains sketches of 397 Bangladeshi women who are in leadership position in different sectors including politics, business, academia, and media.

BDAWL Chairperson Barrister Rabia Bhuiyan, Executive Director Nasim Firdaus, and Managing Director Tahmina Rehman, among others, also spoke at the ceremony.

Bangladesh delivers vessel to German

2012-04-28T03:54:00.000-07:00

Ananda Shipyard and Slipways Ltd hand over Enzian, an oceangoing multi-purpose vessel, to German company Komrowski Maritim Gmbh on 11 April 2012.

The 110.9-metre long and 16.5-metre wide ship is the largest ever locally built ship for export, Ananda said in a statement.

Ananda will hand over the Tk 100 crore ship with a capacity of 6,100 deadweight tonnage. The company has spent Tk 86 crore to build the ship.

Commerce Minister GM Quader will be present as the chief guest at a handover ceremony at Meghnaghat in Narayanganj today.

Afruja Bari, managing director of Ananda Shipyard, focused on the shipbuilding industry at a press conference at Dhaka Reporters Unity.

Abdullahel Bari, chairman of Ananda Shipyard, was also present at the conference.

Bangladesh started exporting oceangoing ships in 2008, and Ananda was the first local company to export its first vessel to Europe, to a Danish company.

At present, Ananda, Western Marine, Highspeed Shipbuilding, Dhaka Dockyard and Engineering Works, Khan Brothers Shipbuilding and Karnaphuli Shipyard are the leading shipbuilders that make ocean-going ships for international buyers.

These companies have received export orders of world-class seagoing vessels, both small and medium, worth $478 million with a deadline to deliver those by 2013, according to Export Promotion Bureau data.

Impact Assessment on Tipaimukh Dam

2012-04-28T03:38:00.000-07:00

The world's best analyst, rather than only Bangladeshi and Indian experts, should be invited to assess the impacts of the much talked-about Tipaimukh dam, a top climatologist said yesterday.

The analysis should be all-inclusive and data-based and must detail the upsides and downsides that the dam may involve if constructed, said Atiq Rahman, executive director of Bangladesh Centre for Advanced Studies.

"Then we will be able to know if there will be any adverse impacts".

India has said there would be no negative impacts of Tipaimukh dam, and if there is any it will not construct the dam, he said, asking, "How will we know if there will be any adverse impact or not?"

The climate expert was speaking at a discussion styled "Climate Change and Renewable Energy: Preparing for the Challenges ahead" on the sidelines of the "Youth Leadership Summit 2012" at Bangabandhu International Conference Centre in the capital.

Bangladesh and India are now at loggerheads over the latter's proposed dam, caused mainly because of the lack of openness about the whole project. On several occasions, India however has assured Bangladesh that it will not take any steps on the Tipaimukh project, which may adversely impact Bangladesh.

Green activists, civil society members and a section of politicians say the controversial dam on the Barak River in India's north-eastern Manipur state will badly affect the haors of different districts of Bangladesh.

Atiq Rahman described environment and development as the two sides of the same coin. Sustainable development calls for a maximum economic development with environmental integrity and social justice, he said. These two will go on at the same time, and one cannot be prioritised over the other, he added.

Rahman also said about 30 crore people would be displaced in the next 50 years due to the vagaries of climate. "It is the responsibility of the people who have emitted green house gases to accept these prospective migrants".

The expert further said every citizen of the country had the right to access to electricity. "Given the existing situation, I do not see the possibility that all women in the rural areas will get electricity from the grid in the next 20 years".

"We have potential in solar home system. We have to tap into the possibility". The government will have to create a decentralised electricity system to give the utility to the rural people, and it can be done through solar system, he said.

Munawar M Moin, managing director of Rahimafrooz Renewable Energy Ltd, said there was no alternative to renewable energy for the country's energy security in the future. "So we need to invest in renewable energy. It will also lead to green job opportunities for youths".

Syeda Rizwana Hasan, executive director of Bangladesh Environmental Lawyers Association (Bela), described Bangladesh's performance on climate change governance as very poor, saying that the government was showing its inefficiency in fund disbursement; there was also question over transparency.

Sarwat Chowdhury, climate change specialist of United Nations Development Programme (UNDP), said the country should focus more on how it could make the best use of the money that was flowing into the country as green development fund.

Bangladesh Youth Leadership Centre organised the event with the theme “Leading Bangladesh into the future: A journey of exploration”.

We shall over come…

2012-04-28T03:31:00.001-07:00

Rumi Akhter Rina, 12, is in class six at Prime Cadet School and College in Chittagong-Bangladesh. She dreams of becoming an electrical engineer.

Being a daughter of a day labourer, she however never believed it would be possible for her to pursue an engineering degree.

But an opportunity to take part in a six-month vocational training programme gave her hope.

She took training in electrical and house wiring at a training centre of Caritas Bangladesh in Bahaddarhat area of Chittagong city.

After undergoing the training for six months, she can now install calling bells, single phase motor connections, tube lights, electric fans and so on, Rina said.

Under a project titled "Vocational Skill Training for Urban Working Children in Bangladesh", Caritas -- a non-government development organisation -- is providing the vocational training to underprivileged children in Chittagong. The United Nations International Children's Emergency Fund (Unicef) is funding the project.

Children, all from underprivileged families, are engrossed in practicing electrical work at the non-government organisation Caritas

In Rina's batch, 164 trainees, all from underprivileged families, took training at the centre in four categories: tailoring and dress making, hand embroidery, electrical and house wiring, and motorcycle repairing and maintenance.

Most of them are also getting regular education at different institutions.

During the training all trainees get Tk 50 a day allowance.

Borhan Uddin, an orphan, took training in electrical and house wiring, he is also a student of class six at Rahmania High School.

He said, "I want to be an engineer," adding that he is taking the training in the morning shift as he has to attend classes in his regular school in the afternoon shift.

James Gomes, Caritas's regional director in Chittagong, said they provide the vocational skill training to 445 children per batch at three training centres in the city.

"We are running three shifts in the training centres so that general education of the children is not hampered," he said.

"We have skilled instructors at the training centres. We also provided training to the instructors," he said.

Caritas's regional director said they are maintaining a computerised data base about the trainees and providing the training with brand new equipment.

Sixty percent of the trainees are girls, said Ripan Halder, a programme supervisor.

He said trainees of the first batch completed the six-month training course in March this year. The second batch started taking the classes this month, he added.

Tarin Akhter, an instructor for hand embroidery, said they first familiarise the students with training equipment and their uses.

The courses are designed with twenty percent theory, she said.

The students are taught theory before practical training, said Tarin adding that lessons about safety measures are also given in the training sessions.

Abul Kalam Azad, a technical officer of Caritas, said the instructors are always present during the practical training sessions as a part of safety measures.

Some of the trainees however dropped out for several reasons, he said adding that some of them left Chittagong with their parents while some others got engaged in jobs without completing the training.

EU's Ashton in Myanmar as stalemate sours reform push

2012-04-28T02:58:00.002-07:00

European Union Foreign Policy chief Catherine Ashton was in Myanmar on Saturday to open a "new chapter" of relations following an easing of sanctions that could prompt a surge of investor interest in the long-isolated state.

Her visit is the most high-profile by the EU since a military junta made way a year ago for a quasi-civilian government with reform agenda that has stunned the world and convinced the bloc to suspend most of its punitive measures.

That suspension was intended to allow aid and investment to reward the government for what Ashton said were "remarkable" political and economic concessions, while reserving the right to re-impose the sanctions if the reform process stalls.

"Of course reforms need to continue - we need to see further progress," she said in a statement prior to her departure.

"We are ready to assist with these efforts as well as with economic and social development. We will continue to support the democratic transition, including through electoral assistance and encourage trade and investment in the country."

But overshadowing the easing of sanction is a political quagmire centred on Nobel Peace Prize laureate Aung San Suu Kyi, whose party won a landslide in an April 1 by-election but has refused to take up its seats in parliament until a swearing-in oath is changed.

TENSE STANDOFF

The National League for Democracy (NLD) party's refusal to take a vow to "safeguard" the constitution has been widely criticised and has created a stalemate between the NLD, the government and the fledgling parliament that European diplomats say no one wants, and no one quite knows how to resolve.

The standoff, centred on the NLD's plans to change the constitution to reduce the military's guaranteed political stake, does not bode well for Western countries keen for political stability as Myanmar's inexperienced rulers try to manage the fast paced reforms, of which parliament is seen as a crucial driver.

Ashton is expected to raise the issue during talks with Suu Kyi on Saturday and will open an EU office in the commercial capital Yangon, the bloc's first diplomatic representation in a country the West shunned while under brutal military rule for 49 years.

She will go to the remote capital Naypyitaw to meet President Thein Sein and other moderates seen as drivers of the reforms, including the influential lower house speaker and power-broker Thura Shwe Mann and Railways Minister Aung Min, who has negotiated ceasefires with numerous ethnic rebel armies.

The trip comes at a time when the EU is vying with Western powers to capture influence and strengthen commercial ties with Southeast Asia, a region with a combined economy of more than $2 trillion dollars that plans to establish an EU-style economic community by 2015.

European firms now have the green light to compete with Asian companies for a share in the vast untapped natural resources of a country strategically sandwiched between heavyweights China and India and a gateway to the fast growing economies of ASEAN.

While investment in the former British colony is still seen as risky, it is rich in oil, gas, teak and gemstones, with huge tourism potential and urgent needs for financial services, new roads, hotels and railways and a proper telecoms infrastructure.

Indian envoy assured businessmen easy visa

2012-04-28T02:37:00.002-07:00

India will be the next export destination for Bangladesh-Azad Said

Indian High Commissioner Pankaj Saran yesterday assured Bangladeshi businesspeople of simplifying multiple visas.

Saran also said India would take steps to remove barriers to minimise the trade gap between the two neighbours. The envoy said there are issues of para-tariff and non-tariff barriers to trade.

“We are fully committed to addressing them, and several steps are being taken to remove difficulties relating to testing, warehousing and labelling,” said Saran.

India's growth offers opportunities to Bangladeshi investors and businesspersons and Bangladesh can become a hub connecting India to East and Southeast Asia, he said.

The high commissioner spoke at a discussion at the office of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) in Dhaka. Top leaders of different chambers were also present.

Despite the global slowdown, Bangladesh has succeeded in maintaining growth at more than 6 percent a year and its foreign exchange reserves and savings and investment rates are higher than ever, Saran said.

“There are issues of trade infrastructure, and how we can encourage more direct investments in each other's countries. We also have a whole range of economic activity that goes on between us,” the envoy said.

Bangladesh imported goods worth $4.58 billion from India in fiscal 2010-11 and exported goods worth $512.50 million.

The trade gap is widening due to tough procedures in obtaining Indian visas, non-tariff and para-tariff barriers to trade, and vehicle movement restriction, according to the businessmen.

Traditional technical standards and weak infrastructures at land customs stations also hamper trade between the two countries, they said.

They also called for stability in the boarder areas to deepen trade relations between the two neighbours.

FBCCI President AK Azad said it is true that some Bangladeshi products cannot enter the Indian market because of some non-tariff barriers.

The existence of non-tariff and para-tariff barriers in the form of countervailing duties, surcharges, central and provincial sales taxes, luxury duties, certification and quality approval requirements hampers exports to India, he said.

Exports falter on Euro debt crisis

2012-04-28T02:30:00.003-07:00

Exports grew at a slow pace at 0.15 percent to $1.99 billion in March from a month ago for the ongoing debt crisis in the Eurozone.

The country's export figure has been showing a slow growth over the last few months due to a drop in demand for the main export earner, readymade garments (both woven and knitwear), in the debt-ridden Eurozone.

Exports fell short of the monthly target by 15.38 percent in March, while such shortfall was 7.97 percent in February, according to data released by state-owned Export Promotion Bureau yesterday. The monthly target for March was $2.34 billion.

Earnings fell by 7.23 percent in March, compared to the same month a year ago. This is the first time that the monthly earnings have gone in the negative territory in the current fiscal year.

Exports in July-March registered a 10.36 percent growth to reach $17.89 billion compared to the same time last fiscal year, data shows.

Bangladesh's knitwear exports rose by 5.92 percent to $7 billion and woven by 19.24 percent to $7.10 billion in July-March from the same period a year ago.

Monoj Kumar Roy, an additional secretary (export) of the commerce ministry, said the prolonged debt crisis in the EU is the main reason behind slowed growth in exports.

“We might not achieve export targets at the end of the year. But we will be able to achieve more than 12 percent growth at the year-end,” he said.

Exports might make a rebound in the next few months as orders are shifting to Bangladesh from other countries, he said.

The commerce ministry set the export target at $26.50 billion at the beginning of the current fiscal year, which is 14.50 percent higher than the amount exported in fiscal 2010-11.

“The target was not an ambitious one. We set the target considering all the factors.”

Nasir Uddin Chowdhury, first vice president of Bangladesh Garment Manufacturers and Exporters Association, said the target might not be achieved at the end of the year for sluggish apparel export.

In addition, orders in the EU fell for the ongoing debt crisis, he said. “But I am hopeful about the new export destinations as exports to those countries are increasing,” he added.

AKM Salim Osman, president of Bangladesh Knitwear Manufacturers and Exporters Association, said productivity in the factories is not increasing despite rising costs of production.

“We could use only 40 percent of our capacity due to an inadequate supply of gas and electricity,” he said.

Bangladeshi Furniture exports grew 30.29 %

2012-04-28T02:25:00.002-07:00

Furniture exports grew 30.29 percent to Tk 154 crore in the nine months through March due to an increase in demand for wooden and crafted furniture in the United States, Japan and European countries, industry insiders said.

Visitors are seen at a stall at a three-day furniture and interior decor exposition at Ruposhi Bangla Hotel in Dhaka 27.04.2012

The sector earned Tk 204 crore from furniture exports in fiscal 2010-2011, up from nearly Tk 197 crore in the previous year, according to data from Bangladesh Furniture Exporters Association (BFEA).

“The main reason behind the export growth is that we have low-cost labour, which lowers our costs of production,” said KM Akhteruzzaman, chairman of Bangladesh BFEA. “So we can offer high-quality products at competitive prices.”

Moreover, there is increasing demand for hand-carved wooden furniture in the US, UAE, Saudi Arabia and Qatar. They prefer furniture designs that follow Victorian styles, hand-carved and heavy furniture, which is the dominant production style of carpenters in Bangladesh, he said.

“Our local carpenters have excelled in carving on wood, especially teak.”

Furniture is one of the most rapidly growing sectors in Bangladesh constituting approximately 85,000 enterprises and carpentry households across the country. Annual growth in terms of turnover is around 19 percent a year.

At present, the size of local furniture market stands at Tk 10,000-12,000 crore a year, according to BFEA.

The industry currently employs about 30 lakh people directly. It is one of the most labour intensive industries in Bangladesh, having a capability of absorbing even unskilled labourers.

Previously, Bangladesh only exported wooden furniture to neighbouring countries such as India and Nepal. In the last three years, the volume of furniture export, both wooden and steel, increased al lot.

Akhteruzzaman said the furniture market could be further expanded, both at home and abroad, by blending technology, skilled manpower, quality raw materials and designs.

Seventeen members of BFEA export furniture. Otobi, Akhtar, Hatil, Brothers, Partex, Navana, and Furnitec are the major players. Apart from these member companies, there are some more companies that export furniture to the neighbouring countries.

However, furniture makers and exporters now face the adverse impacts of high duties on the import of raw materials, which is holding them back from expanding the industry further.

In addition, declining sources of the local supply of wood and a lack of technical expertise are forcing the sector to play a trivial role in the national economy, said industry insiders.

“We need support from the government to take the sector to a higher level, which would help us contribute more to the economy,” said Ferdous Ahmed, managing director of Furnitec, a major player in the local market. “We now have to pay over 90 percent in duties on the import of raw materials, which ultimately increases production costs. This eventually reduces the competitiveness of our products than that of our regional competitors.”

“We often face difficulties in meeting the buyers' price targets, although our exports have grown manifold in recent years,” added Ahmed, also the secretary general of BFEA.

Industry insiders said most of the raw materials for wooden furniture, including teak and adhesive and painting products, have to be imported from Malaysia, Canada and China.

In addition, the sector also suffers from a lack of technical knowledge, which makes the sector dependent on traditional methods that consume time.

“The government should take the necessary steps to help the sector grow fast. Most small entrepreneurs suffer from a lack of capital, while the bank interest rate is still too high,” said Akhteruzzaman, also the managing director of Akhtar Furnishers Ltd.