Japan, HK want to invest in knitwear sector

http://www.thefinancialexpress-bd.com/2009/09/14/79017.html

Japan, HK want to invest in knitwear sector

FE Report

A delegation of Bangladesh Knitwear Manufacturers & Exporters Association (BKMEA) visited Japan and Hong Kong last week and received significant responses from buyers and investors.

Two renowned Japanese companies have shown keen interest to invest Tk 5.0 billion in country’s knitwear sector and have already conducted primary investment survey.

Besides, investors from Hong Kong have expressed their desire to visit Bangladesh to evaluate business potentials in the knit sector.

Headed by the association president Fazlul Haq, the delegation held meetings with reputed business entities and retailer groups during their week-long visit to explore new market potentials as well as promoting Bangladeshi products, BKMEA office said.

During the meetings, the BKMEA delegation was able to convince Japanese and Hong Kong importers to procure a large volume of knitwear products from Bangladesh.

Moreover, business leaders from both the countries have also agreed to participate in the BKMEA organised ‘Knit Exposition- 09′ in Dhaka from November 2 to 4, 2009, the BKMEA office added.

Pharma sales upbeat

http://www.thedailystar.net/newDesign/news-details.php?nid=105557

Pharma sales upbeat
Sayeda Akter

Local pharmaceutical sales have grown to 21 percent in the April-June period, a rise from 19 percent in the first three months of this year, according to a report of a global pharmaceutical market intelligence agency.

Intercontinental Marketing Services (IMS) published the quarterly report in August.

Developed manufacturing process, newer investments in the sector and improved marketing strategy boosted the sales growth, said industry insiders.

Opsonin Pharma Ltd performed the best with a 51 percent growth, followed by Eskayef Bangladesh Ltd with 42 percent and Drug International Ltd with 39 percent in the period, the IMS report said.

Among the top ten performers ranked by IMS, others are Beximco Pharmaceuticals Ltd, Incepta Pharmaceuticals Ltd, Reneta Ltd, Advanced Chemical Industries (ACI) Ltd, Square Pharmaceuticals Ltd, Aristopharma Ltd and ACME Laboratories Ltd.

IMS report indicates the local retail sales of pharmaceutical products of different countries for a particular period, excluding the government purchase and exports.

AM Faruque, managing director of Eskayef Bangladesh, said enhanced quality of their products helped increase prescription coverage during this period.

“The first and foremost concern of a consumer is the quality of a product. So when a drug company produces high quality products, doctors confidently prescribe the medicines of that company, eventually helping increase its sales,” he said.

“People usually visit the doctors more when they are financially better off. This year the bumper production of Boro crop helped more people go to doctors. It’s also an important reason for sales growth,” Faruque added.

“We are constantly trying to improve the quality of our products,” he said, adding that the marketing strategy of the company also added to the growing sales in both the local and international markets.

Syed Golam Rahman, general manager of Opsonin Pharma, also echoed Faruque’s view, saying the increased prescription coverage and improved marketing strategy have fueled their growth in sales.

“Simultaneously, we have launched some new products in the local market that also helped us gain more revenue,” he said.

Opsonin recorded a 38 percent growth in the January-June period of this year, the highest among the local companies, said Rahman.

Square Pharmaceuticals, the local leader with around 20 percent of the total market share, has recorded an 18 percent growth in the April-June period.

Ahmed Kamrul Alam, assistant general manager of Square Pharmaceuticals, said quality products and growing health awareness among people are the main reasons behind the growth in sales.

Square launched some essential pharmaceutical products, including anti-fungal and anti-depression medicines in the April-June period, which also helped the company post more sales in local market, said Alam.

Currently, the market size of the local pharmaceutical industry is worth Tk 7,000 crore, said industry insiders.

There are 250 small, medium and large local and multinational pharmaceutical companies operating in Bangladesh. Of the companies, the top 10 — Square, Beximco, Eskayef, Incepta, ACME, Opsonin, Renata, ACI, Aristopharma and Drug International — take up nearly 70 percent of the total market, according to an IMS survey conducted in 2008.

sayeda@thedailystar.net

Minister pitches IT prospect

http://www.thedailystar.net/newDesign/news-details.php?nid=105550

Minister pitches IT prospect

Commerce Minister Faruk Khan speaks at the launch of a seminar on “Outsource to Bangladesh”, organised by the Federation of Bangladesh Chambers of Commerce and Industry at the CIO (Chief Information Officers) Summit of IT Executives on Wednesday in Arizona, USA. FBCCI

Star Business Desk

Commerce Minister Faruk Khan has said the government is offering a string of facilities, including reduced tax, to develop the country’s information technology sector to establish a Digital Bangladesh.

The minister was speaking at the launch of a seminar on “Outsource to Bangladesh”, organised by the Federation of Bangladesh Chambers of Commerce and Industry at the CIO (Chief Information Officers) Summit of IT Executives on September 9-10 in Arizona, USA. US-based Mi3 was a co-organiser.

Branding the IT industry as a thrust sector, the minister said Bangladesh boasts about 25,000 IT engineers.

More than 6,000 software engineers are entering the IT sector a year from 90 universities and 700 colleges.

The seminar was also attended by FBCCI President Annisul Huq and IT professional Sajeeb Wazed Joy as representatives from Bangladesh.

They presented “situation papers” on the IT sector in Bangladesh.

In his speech, Joy highlighted the future plans of the government to develop the IT sector and its various programmes, including Wimax technology, expansion of submarine cable, establishment of IT parks and the construction of infrastructure.

Joy mentioned that Bangladesh is capable of offering quality products in competitive prices, compared with nearest competitors such as India, Indonesia and Vietnam.

He urged IT entrepreneurs to invest in the IT sector in Bangladesh, as the government is ready to provide the best facilities to the foreign investors.

“The young generation of Bangladesh is highly educated in English. Bangladesh is considered an ideal place for establishing software companies, call centres and other IT-related services,” Joy told the seminar.

Annisul Huq invited IT entrepreneurs to attend IT fairs in Bangladesh to get an idea about the IT sector.

The FBCCI chief hoped the seminar would play an effective role in developing and expanding the IT sector.

IT Executives of Microsoft, Unisil, Coca-Cola, Cisco, Bank of America, Austin Energy, Radio Shack, Hewlett-Packard (HP), Wells Fargo and Millennium Net were present at the seminar.

Sale of Walton refrigerators up ahead of Eid

http://www.theindependent-bd.com/details.php?nid=141922

Sale of Walton refrigerators up ahead of Eid
ECONOMIC REPORTER

Walton showrooms all over the country are experiencing growing turnout of customers ahead of Eid-ul-Fitr, one of the year’s busiest shopping periods. Huge rush of buyers is being seen at the all showrooms of metropolitan cities, district and upazila towns.

Company sources said: “Walton refrigerators have created huge enthusiasm among local customers as they became aware of Walton brand high quality refrigerators, manufactured at Walton Hi-tech Industries in Gazipur, being exported abroad.

During a visit to the Bashundhara City Shopping Complex, the largest shopping centre in the country, people were seen returning home after buying Walton refrigerators.

Sabina Mallik, a customer in the city’s Kathalbagan area said she had bought an 8cft refrigerator at Tk 18,500. About why she chose to buy this brand of refrigerator, Sabina Mallik told the correspondent that she had discussed the matter with her relatives and all had advised her to buy a Walton brand refrigerator, says a press release.

Bashundhara City Shopping Complex’s Walton Showroom Manager Lutfor Rahman said: “A refrigerator is not a thing of luxury now. Due to the impact of globalisation and improved technology, it is now within the purchasing capacity of middle class and lower middle class. RB Group offers every one essential commodities at competitive rates. Walton refrigerator prices are 20-30 per cent lower compared to imported ones.”

He informed that a 10cft Walton refrigerator was being sold at Tk 20,500 while the same refrigerator of other companies was being sold at Tk 30,000 in local market. A 12cft Walton refrigerator was being sold at Tk 23,500 while the same refrigerator of other companies at Tk 35,000.

He claims that the company has set up a service centre at every showroom with a view to providing after sales service, which also attracts the customers.

Sirajul Islam, Additional Director of RB Group of Companies, about the product said, “The Group always has something innovative and new for its consumers.” imported one.

He claims that the company is committed to exchange any sold product if any major fault is seen within five years and to provide five years service after selling. Walton also gives customers a facility of supplying colour, door, handle, etc as per customers’ choice.

One of the main features of Walton brand refrigerators is 100 per cent copper condense as a result there is no problem within two years. Compressors of Walton refrigerators are imported from Malaysia whose gas charge continues at least 10 years, he also claims.

A senior official of RB Group said in foreign countries a customer buys a refrigerator for two or three years. Later, the customer changes the model.

Bid to connect capital with south, SW regions: Trans-Padma railway scheme underway

http://nation.ittefaq.com/issues/2009/09/13/news0188.htm

Bid to connect capital with south, SW regions: Trans-Padma railway scheme underway

BSS, Dhaka

A massive Trans-Padma railway corridor scheme is underway to connect the capital with the south and southwest regions with six subsidiary rail lines, some of them to be new and others to be rehabilitated ones.

Chief Engineer of the Railway Western Zone Ansar Mahmud told BSS that the projects have already been sent to the Railway headquarters for approval. They will cost a total of Taka 10,694 crore, he said explaining their major features.

Projects, once materialised, will open a new chapter of development in the region facilitating people to quickly go to the capital, make transportation of merchandise easier and make movement of cargo to and from Mongla port less time consuming.

New rail lines will be built from the capital to Bhanga through Padma bridge. Rail tracks will also be built from Kashiani of Gopalganj to Tongipara and from Bhanga to Barisal and Khulna under the project.

It also involves rehabilitation of railway from Pachuriya to Faridpur to Pukuriya. A new line will be set up from Pukuriya to Bhanga, besides rehabilitation of old lines from Kalukhali to Bhatiyapara.

New railways up to Barisal and Tongipara will allow people of the region to move quickly to the capital at a less cost and time, he said.

Ansar Mahmud further said the main 80 km new railway corridor line will be set up from the capital to Bhanga crossing the Padma bridge. It includes 46 km broad gauge lines from Gandariya to Mawa and 30 km from the western part of Padma bridge to Bhanga.

Besides this, there will be 4 km dual gauge line from Dhaka to Gandaria, he said. This line up to Bhanga will cost a total of Taka 4,424 crore and need to acquire 1,855 acres of land.

Railway line to be built from Kashiani to Tongipara will cover 55 km distance and rehabilitation of Kalukhali-Bhatiyapara to cover 75 km. Both the projects will cost Taka 1,500 crore and require 850 acres of land.

The major part of the scheme is to build a new 100 km railways from Bhanga to Barisal at a cost of Taka 2,833 crore. It will require 700 acres of land.

Another 53 km railway line to be set up from Khulna to Mongla will cost Taka 684 crore and acquisition of 525 acres of land will be needed. This rail line will allow movement of shipping containers from the port to various destinations.

The railway from Pachuriya to Faridpur covering 25 km of distance and from Faridpur to Pukuriya will cost Taka 80 crore and Taka 170 crore respectively, the railway sources said.

Jhenidah jeweller holds out hope

http://www.thedailystar.net/newDesign/news-details.php?nid=105558

Jhenidah jeweller holds out hope

Imitation ornaments are on display at a showroom of Milon City Gold Ltd in Jhenidah. The local jewellery maker has boosted its sales by offering quality products for low prices. The company has grown into an employer of about 650 workers in three factories that produce around 4,000 pairs of jewellery a day. Photo: STAR

Azibor Rahman, Jhenidah

A jewellery maker, based in Jhenidah, has widened its market reach by offering low-priced but quality ornaments.

Located in Moheshpur upazila in the district, Milon City Gold Ltd produces an array of imitation ornaments such as earrings, bangles, bracelets, necklaces and chains.

Earrings priced at only Tk 50 to Tk 60 a pair have become a hit among women. Customers can also electroplate their old imitation ornaments only for Tk 20 to Tk 30.

“We are planning to export the ornaments soon,” Rashedunnabi Milon, managing director of Milon City Gold, told The Daily Star.

Milon’s father Rahim Uddin started the jewellery business at Moheshpur Bazaar in 1974. After his father’s death, Milon took the reins of the company in 2003 when the prices of gold were high.

He experienced the first signs of profit in 2004 — a year for a turnaround. Milon said his daily sales turnover reaches as high as Tk 2 lakh.

The company has grown into an employer of about 650 workers in three factories that produce around 4,000 pairs of jewellery a day.

Apart from the factories, the company has two showrooms — one in Moheshpur town and the other in Dhaka.

Dipali Rani, a customer from Kaliganj, said she had come here to buy the ornaments as their colour lasts long.

Abed Ali, a wholesaler from Kushtia, said the items produced by Milon City Gold cost less than Indian peers.

“People from all walks of life use these imitation ornaments,” Ali said.

Indian ornaments dominated the local market before the arrival of Milon City Gold.

The pricey Indian ornaments are losing out to the local company. A pair of Indian earrings costs around Tk 200 to Tk 250 — much higher than the local ones.

But Milon is not free from worries. He said the local ornaments are made manually. On the other hand, Indian companies are mass-producing the ornaments by machine in a short spell of time.

Local companies like Milon City Gold are reluctant to set up ornament-making machinery as they suffer nagging power outages.

“Milon City Gold is our pride. We will do our best to ensure adequate electricity to help them set up automated machines,” Shafiqul Azam Khan, a lawmaker from Jhenidah-3, told The Daily Star.

BSF kills two in Dinajpur

http://www.thedailystar.net/newDesign/news-details.php?nid=105641

BSF kills two in Dinajpur
Our Correspondent, Dinajpur

The Border Security Force (BSF) of India yesterday gunned down two Bangladeshi nationals on Shundra border in Dinajpur district headquarters.

The deceased were identified as Ashraful Islam, 40, son of Fazar Ali of Jhulkagram village, and Mohammad Aminul Islam, 30, son of Moksed Ali of Jaygirpara village in sadar upazila.

The Bangladesh Rifles (BDR) sources said BSF troops at Shundra border outpost (BOP) fired shots at around 4:30am yesterday when Aminul and Ashraful reached near the border, leaving them dead on the spot.

BSF also took the bodies into Indian territory.

Ashraful and Aminul were returning home from near Hamjapur of south Dinajpur in India where they had gone to see their relatives, said victims’ family sources.

BDR officials of Dinajpur-2 Battalion admitted the incident and said they had lodged a strong protest against the killings. They also sought cooperation from their counterpart so that a calm prevails on the India-Bangladesh border.

BDR also urged the BSF to return the bodies.

A tension mounted on the bordering areas following the killings.

Record rise in import of scrap-vessels

http://www.thefinancialexpress-bd.com/2009/09/13/78904.html

Record rise in import of scrap-vessels
No major impact on MS rod prices

Jasim Uddin Haroon

Import of scrap-ships doubled in the last fiscal year due to sharp fall in its prices in the international market boosting the supply of raw materials to the country’s steel sector.

Local importers purchased 2.2 million tonnes of old ships mostly big sized in 2008-09 fiscal against 0.97 million tonnes over the same period in 2007-08, according to statisitics.

“We’ve imported ships of over 2.2 million tonnes last year. This is a record in the history of Bangladesh’s ship-breaking industry,” Enamul Hoque, a senior consultant of Bangladesh Ship Breakers Association (BSBA) told the FE.

The number of ships imported during the last fiscal year was 193 against 120 in 2007-08, he said.

Currently, an old ship costs around US$300 a tonne in the international market, which was $750 before the recession hit the globe in 2008.

Mr Enamul said local importers have added 19 more shipyards taking the number to 69 to cope with the increased number of old ships being imported in the country.

“Our importers are beaching four to five ships each week and are finishing cutting the same number a week,” Zafar Ahmed, president of the BSBA told the FE.

Earlier, there were only 36 active ship breaking yards in Sitakundu, 20 kilometres north of the port city Chittagong, which dismantled 110 ships on an average every year.

“We now dismantle nearly 60 per cent of the ships sent to scrap-yards across the globe,” said Zafar Ahmed, a leading ship breaker.

India breaks around 1.5 million tonnes a year followed by China 1.3 million tonnes, Pakistan 1.0 million tonnes and Turkey around 0.60 million tonnes.

The country’s ship breakers offer at least 20 to 25 per cent more price than their competitors in India and Pakistan, making Bangladesh the preferred choice for the ‘burial ground’ of a large and medium sized ships.

Sitakundu of Chittagong has become world’s largest ship-breaking destination as Bangladeshi importers have alredy beaten their competitors in India and Pakistan to buy the highest number of scrap vessels sold in the international market.

Association officials said the country’s importers are now financially better off than many of their competitors in India, Pakistan and Turkey, enabling them to scour the world for any old ships up for sale anytime.

China, a large player in ship breaking industry, has now stopped buying scrap vessels because it already built up a buffer stock, they said.

The old ships are the main source of construction steel in Bangladesh. The country’s re-rolling mills melt it after dismantling in huge slabs of steel.

The ship scrap melts steel to make 40-grade mild steel (MS) rod which has a major market in the country’s steel sector.

The ship breakers supply around 80 per cent of the country’s annual steel rod demand, which is met from scrap ships.

Showkat Ali Chowdhury, who owns Namrin International, the country’s largest ship breaker, said the business grew tremendously in recent times as the demand for the steel rose sharply amid recovery in the construction industry.

“Importers are taking the adavantage of the sharp fall in its internaitonal prices,” he added.

However, there has not been any remarkable impact on the prices of MS rod at the retail level. The price of 40-grade MS rod which went up to Tk 45,000 a tonne last year is now hovering around Tk 40,000 a tonne.

Deal on N Power plant with Russia soon

http://nation.ittefaq.com/issues/2009/09/12/news0111.htm

Deal on N Power plant with Russia soon

UNB, Dhaka

After long parleys, the trip of a Bangladesh delegation to Russia has been finalized to ink deals for installing a nuclear power plant to mitigate a nagging electricity crunch, official sources said.

According to tour schedule, the delegation, led by State Minister for Science and Information Communication Technology Yeafesh Osman, will fly for Moscow on October 17 and stay in the host country from October 19 to 21.

The proposed visit was earlier supposed to take place in August. But, on the plea of security clearance, it was delayed by two months, the sources said.

The government of Bangladesh received a Russian invitation in July and prepared an 8-member delegation list.

But the Russian government took time to do security- clearance formalities for the Bangladesh team to visit their nuclear installations. As per Russian security system, any foreign delegation willing to visit any nuclear power plant needs security clearance.

Officials of the ICT Ministry said they are hopeful that, during the visit, an agreement would be signed between the two countries at the state level to move forward the nuclear-power project in Bangladesh, vexed by perennial power shortages.

“The purpose of the tour is to strike a deal between the two nations and to have experience and learn about the Russian nuclear-power technology,” said one official.

Earlier on May 13, Bangladesh and Russia signed a memorandum of understanding (MoU) in Dhaka agreeing to enhance cooperation between the two countries for the peaceful use of nuclear energy.

The main purpose of the initial accord, in the form of MoU, is to take necessary steps for building a 600-1000-megawatt power plant in Bangladesh.

As per that accord, the state-owned Bangladesh Atomic Energy Commission (BAEC) and the Russian State Atomic Energy Corporation-Rosatom-will work together to push the proposed power-plant project forward.

After the MoU signing, both the countries reached an understanding that a Bangladesh delegation led by the ICT State Minister would visit Russia to oversee the nuclear-power projects and also learn about the operation of nuclear reactor and other issues.

Bangladesh moves for implementing the nuclear-power project at a time when the country has been experiencing an excruciating power crisis trying to cater for an ever-growing demand for electricity.

Business and industry here have huge untapped potential but suffer a lot for this power crisis-and there is no immediate remedy as there is gas crisis prevailing as well that limits the scope for installing gas-fired plants.

Power Cell recommends 100MW wind power plant in Chittagong

http://www.newagebd.com/2009/sep/12/nat.html#1

Power Cell recommends 100MW wind power plant in Chittagong
Staff Correspondent

The Power Cell has recommended to the government installation of a 100MW wind-based power plant in Chittagong.

The cell made the recommendation last month after the Power Division had asked its research and planning wing to make a plan for installation of windmills in the country for generating electricity to reduce dependency on conventional energy, officials said.

Power secretary Abul Kalam Azad told New Age on Thursday, ‘We are examining the recommendations of the cell on installation of the 100MW wind-based power plant. We will also try to tap other renewable resources along with the wind.’

Officials of the Power Cell said in the proposal that they recommended carrying out a detailed feasibility study on installation of the wind mill in Chittagong.

‘In fact, the cell made the recommendations after scrutinising a proposal of a US-based company to install a 400MW wind-based power plant at Patenga in Chittagong. We pointed that initially the power plant should be of 100MW capacity and installed away from Patengna, preferably at Sitakunda,’ said an official.

He said the power plant should be installed through inviting open tender as many companies are now interested in setting up wind-based power plant in Bangladesh.

Earlier, in June, adviser to the prime minister, Tawfiq-e-Elahi Chowdhury, told reporters that they had asked the Power Cell to make recommendations on installation of a 50-MW wind-based power plant.

The official said the installation cost of a 100MW wind-based power plant could be around Tk 1,000 crore to Tk 1,500 crore while the production cost of each unit of electricity would be around Tk 10 to Tk 12 because of the huge capital.

‘Although there is no fuel cost in generating electricity from a wind mill, the high capital cost pushes up the price of electricity. As wind mill is environment-friendly many people opt for wind power. The per unit production cost of gas-based electricity is around Tk 2 while it is Tk 8 to Tk 10 in oil-based power,’ he said.

Although Bangladesh has been considering installation of wind-base power plants, experts earlier found that wind speed in most parts of the country was not suitable for large wind power plants.

Two 1MW wind turbines have so far been installed at Muhuri at Feni and in Cox’s Bazar but they are not very successful in generating electricity regularly.

Different studies including that of the Local Government Engineering Department showed that annual wind speed in the coastal belt ranges from 2.96 metres per second to 4.54 m/sec at Kuakata.

Power officials, however, said wind blows at an average speed of 5.5 to 9.5 m/s at 20m above the ground in some places of the country including Chittagong almost throughout the year.

‘With this wind speed and the new technology, it is now possible to generate large amount of electricity although earlier we believed the wind speed should be over 10 m/s for generating electricity,’ said an official.

The country is facing a shortfall of nearly 2,000mw of power a day due to the limited capacity of electricity generation.

Bangladesh’s more than 80 per cent power is generated using natural gas but with the current shortage of gas, the government is looking for alternative energy sources like coal, fuel oils, wind and solar.

Govt declares IT as priority sector, Commerce Minister tells Intl summit

http://www.bssnews.net/newsDetails.php?cat=8&id=57821&date=2009-09-10&PHPSESSID=a8cf4edf7d92d67648aa064b2e400dde

Govt declares IT as priority sector, Commerce Minister tells Intl summit

DHAKA, Bangladesh, Sept 10 (BSS) – Commerce Minister Faruq Khan has said the government has declared the IT sector as a priority one keeping in view the dream of making `Digital Bangladesh.’

“The country has now 25,000 skilled IT engineers while around 6,000 software engineers are now being graduated every year from 90 universities and 700 colleges,” he said while addressing the inaugural session of a two-day Chief Information Officers’ (CIO) Summit of the world’s renowned IT executives at Arizona in the United States on September 9.

As many as 150 renowned companies of the Fortune-500 countries took part in the summit, where Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) held a seminar on `Outsource to Bangladesh’, said an FBCCI press release here today.

FBCCI president Annisul Huq and Sajib Wajed Joy, son of Prime Minister Sheikh Hasina, gave overviews on the present status of Bangladesh’s flourishing IT industry and its future on the occasion.

Joy in his speech listed the government’s various steps for development of the IT sector including introduction of WiMAX technology, expansion of submarine cable, setting up of IT parks and infrastructure development.

He said Bangladesh has now become capable to supply quality IT products to the world market at competitive prices compared to India, Indonesia and Vietnam.

Annisul Huq hoped that the summit would play a significant role in expanding the IT sector in Bangladesh.

Nandan to build country’s largest resort at Tk1.20b near Dhaka

http://www.thefinancialexpress-bd.com/2009/09/11/78763.html

Nandan to build country’s largest resort at Tk1.20b near Dhaka

Sonia H Moni

Nandan group, a British-Bangladesh joint venture, has said it would build the country’s largest resort at a cost of TK1.20 billion near its amusement park, some 40 kilometres north-west of the capital.

The resort, which can accommodate 250 people at a time, will have 40 cottages and green hills on 20 acres of land, the group’s head of project development Major (Retd) Md Mahmud ur Rahman Sakeb told the FE.

“It will be the country’s largest resort and will look like a traditional Bangladeshi village with all its beauty and splendour. Visitors would get the same ambience that they find in the famed resorts of Bali in Indonesia,” Sakeb said.

“In addition to 40 cottages for couples and families, there will be a dormitory, world class restaurant, tennis court, mini golf course, swimming pool, party centre, administrative building and lush green garden,” he added.

Nandan, which also owns the country’s largest amusement park at Baroipara, Savar and has stakes in real estate, plans to start work on the resort early 2010 and complete by early 2012.

Sakeb said the company wants to tap into growing inland tourism in the country. More than two million people visit the beach town of Cox’s Bazar during Eid and four million to the hill district of Bandarban every year, he said.

“Our market is now ready for a top class resort like ours. There are now hundreds of thousands of people in Bangladesh who spend some time in their busy annual calendar in vacationing in resorts and top hotels,” he said.

“Higher middle class and higher-class local people and foreigners are our targeted clients,” he said, adding unlike the resorts in Bali and Thailand where alcohols and gambling flow freely, Nandon would not undermine the country’s culture and traditions.

“There will be no casino. But there will be dance programmes by our indigenous people and healthy entertainment arrangement. The visitors will also enjoy free access to our amusement park,” he said.

Islami Bank opens 20th SME service centre

http://www.thefinancialexpress-bd.com/2009/09/11/78696.html

Islami Bank opens 20th SME service centre

FE Report

Islami Bank Bangladesh Ltd (IBBL) opened its 20th SME service centre at Sonargaon of Narayanganj Wednesday, said a press release.

Chairman of IBBL Executive Committee Md Eskander Ali Khan inaugurated the new SME service centre as the chief guest.

Managing Director of the bank M Fariduddin Ahmad presided over the inaugural function.

Robert Smith, manager of RPCF, DFID, Md Mosharraf Hossain, chairman and Kohinur Islam Ruma, vice-chairman of Sonargaon Upazila Parishad, were present as special guests on the occasion.

IBBL Deputy Managing Director and Head of Investment Wing Mohammad Abdul Mannan delivered the welcome speech at the function.

Md Eskander Ali Khan, in his speech, said IBBL has been working for the welfare of people. The bank has taken various steps to make poor people financially solvent.

Submergence tolerant rice-BR-11-sub-1 to be released this year

http://www.bssnews.net/newsDetails.php?cat=8&id=57742&date=2009-09-10&PHPSESSID=a8cf4edf7d92d67648aa064b2e400dde

Submergence tolerant rice-BR-11-sub-1 to be released this year

DHAKA, Bangladesh, Sept 10 (BSS)- The first ever submergence tolerant rice-BR-11-sub-1 jointly developed by the Bangladesh Rice Research Institute (BRRI) and International Rice Research Institute (IRRI) is expected to release this year.

“The variety of rice would be released this year, if we could complete the experiment of the variety of rice successfully”, Director (research) of BRRI Dr MA Salam told BSS in an exclusive interview.

He said the work for innovating submergence tolerant variety was started with joint initiative of the BRRI and the IRRI in 2005-06 in order to develop submergence tolerant rice by transplanting submergence gene to BR-11 dhan.

The evaluation team of the National Seed Board will go at field level experiment on the variety this year and they will submit the report to the Technical committee for releasing the variety.

Referring to the field level experiment of BR-11- sub-1, Director General of Seed Wing of the Ministry of Agriculture Anwar Faruque said it was very effective last year and the variety will be formally released this year, if the field level experiments are completed successfully.

He said, “We have already distributed the seed of the variety at farmer levels this year and we expect it will be leased in
December next.”

Anwar Faruque said the newly developed variety will go for wide scale cultivation next year as farmers would easily produce the seeds of the variety.

The newly developed BR-11-sub-1 looks exactly like BR-11, Dr. Salam said adding the production rate, lifetime and height between BR- 11 and BR-11-sub-1 is same.

He said the average production rate of both the varieties is five metric tons per hectare.

He said BR-11 is cultivated in about 40 percent land among the total rice cultivation in the country during Aman season. But nearly 80 percent of cultivated BR-11 rice got damaged, in a submerged condition, he added.

As a result, Dr Salam said, every year huge quantity of rice are damaged as low-lying areas get affected by flash flood.

He said the BRRI is giving priority to develop stress tolerant rice with a view to increase rice production in the country.

Describing the variety BR-11-sub-1 as remarkable progress in the country’s rice development history, Dr Salam said it will keep a very significant contribution in further increasing the Aman production leading to ensuring food security in the country.

According to the study, the newly developed submerged variety can survive maximum 18 days after inundation of water, said Dr Salam adding but it depends on quality of water, temperature as well as environment.

He said the longevity of the submerged rice plants would increase if the water is clean, but in case of muddy water its longevity would decrease.

The BRRI along with a numbers of private organizations would work to produce seeds for field level cultivation of the variety.

A total of 70 ‘baby trials’ would be taken place for producing seeds this year, he said adding ‘mother trial’ would also be carried out for seed production.

Cabinet decides to set up hi-tech park, Okays three bills

http://www.thedailystar.net/newDesign/news-details.php?nid=105204

Cabinet decides to set up hi-tech park, Okays three bills
Staff Correspondent

The cabinet at a meeting yesterday approved three bills, including Bangladesh Hi-Tech Park Authority Bill 2009, and decided to set up a hi-tech park to fulfil the Awami League’s electoral pledge to build a ‘Digital Bangladesh’ by 2021.

Two other bills are Mobile Court Bill 2009 and Vested Property Return (Amendment) Bill 2009.

The hi-tech park would be built on 232 acres of lands at Kaliakoir in Gazipur. The land ministry has started the infrastructure development work for the park at a cost of Tk 25 crore, the prime minister’s press secretary Abul Kalam Azad told reporters after the meeting.

Prime Minister Sheikh Hasina chaired the meeting held at the Prime Minister’s Office.