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Bangladeshis in Indian Jails: HC asks govt to submit report within 6 weeks

The High Court yesterday directed the government to submit a report before it within six weeks in details about Bangladeshi nationals languishing in different prisons in India.

In response to a writ petition filed by Ain O Salish Kendra, an HC bench of Justice M Bazlur Rahman and Justice M Enayetur Rahim ordered the government to mention in the report the steps it has taken to bring back the Bangladeshis detained in Indian prisons.

The bench also issued a rule upon the government to explain within six weeks why it should not be directed to take steps to bring the detained Bangladeshis back to the country.

Ain O Salish Kendra filed the writ petition as public interest litigation on July 17 following reports published on different newspapers including the Prothom Alo seeking a direction from the HC to the government in this regard.

Secretaries to the ministries of home and foreign affairs and other officials concerned were made respondents to the rule and order. Barrister Saifur Rashid and Abontee Nurul appeared for the petitioner.

Source : The Daily Star

National fish week begins today

The production of fish has been dropped in the past few years due to lack of rainfall, Fisheries and Livestock Minister Abdul Latif Biswas said yesterday.

"This lack of production results unsatisfactory per capita income of the fishermen," he said during a press conference on the eve of National Fish Week-2011 in the auditorium of the Department of Fisheries in the city.

The fish week, scheduled to be inaugurated by Prime Minister Sheikh Hasina, will begin today to encourage fish farmers.

The theme of this year's fish week is Nirapad Machhe Vorbo Desh, Bodle Debo Bangladesh (Cultivate safe fish, change Bangladesh).

Source : The Daily Star

Power generation hits new record Monday

The country's power generation hit a new record on Monday night touching 4,936 megawatt, but came down to a projected 4,786 MW yesterday.

According to officials at the state-owned Power Development Board (PDB), the electricity generation saw the record on the night of a general holiday when all public and private industrial and commercial units were closed for the holy Shab-e-Barat.

"Because of the closure of industries and commercial ventures, the PDB and private power generation units received the highest gas supply in recent times that resulted in the highest ever generation so far," said a senior PDB official.

"We received about 765 million cubic feet (MMCF) of gas on Monday against an average supply of 700. But the power generation declined by 150 MW yesterday due to reduced gas supply," he added.

PDB officials, however, said the average power generation now stands between 4,500 and 4,700 MW for the last few weeks. The generation will increase by another 300-350 MW within the next few months as a number of under-construction power units will start operation soon.

Source : The Daily Star

Asian heritage architecture exhibition begins

Foreign Minister Dr Dipu Moni on Sunday inaugurated a six-day exhibition showcasing the heritage architecture of 17 Asian countries.

The Institute of Architects Bangladesh and Ministry of Foreign Affairs jointly organisedthe exhibition in the Nalini Kanta Bhattashali Hall of National Museum in the city.

Members of diplomatic corps and representatives of socio-cultural organisations attended the inaugural function.

Foreign Secretary Mijarul Quayes and Architect Mubasshar Hussain also spoke.

Source : The Daily Star

BNP-Jamaat protest on Saturday

BNP and its key ally Jamaat-e-Islami will stage countrywide demonstration on Saturday in protest against abolishing the caretaker government system and deleting the phrase "absolute trust and faith in Allah" from the constitution.

Both the parties announced the programme yesterday from separate press briefings at their party headquarters.

Announcing the BNP programme, party acting secretary general Mirza Fakhrul Islam Alamgir said his party will also bring out processions in the capital.

BNP sources said party Chairperson Khaleda Zia may lead the procession.

Jamaat acting secretary general ATM Azharul Islam said they will hold protest rallies only in the capital.

Briefing reporters at Nayapaltan office, BNP acting secretary general alleged the government has taken a stance against people's faith by unilaterally amending the charter. "The right to speak has been taken away. The government is now threatening to lodge sedition cases against the opposition," he said.

Earlier on Saturday night, the top brass of the four-party alliance at a meeting at Khaleda Zia's Gulshan office finalised the protest programmes as part of the ongoing anti-government movement.

BNP will also protest the arrest warrant against BNP Senior Vice-chairman Tarique Rahman, the police attack on Opposition Chief Whip Zainul Abdin Farroque and reinstatement of secularism and socialism in the constitution.

Source : The Daily Star 

Schoolgirl commits suicide

A schoolgirl killed herself by hanging at Motijheel AGB colony in the capital last night.

Dead Sumaiya Akhter, 12, was a class six student at Motijheel Model High School, family members said.

Abdul Awal Kamrul, her maternal uncle, alleged that a youth named Selim of Arambagh had been teasing her for quite some time on her way to and from school. Her mother rebuked her over the matter just last evening, he added.

"She hanged herself from a ceiling fan with her scarf," he said.

Her parents were not home at that time.

On coming home around 8:00pm, her parents found her hanging and sent her to Dhaka Medical College Hospital where doctors declared her dead.

Source : The Daily Star

Census in all enclaves done: Dhaka, Delhi to prepare report in a week

The much-talked-about data collection of the headcount in all 162 enclaves and exclaves of Bangladesh has been done and Bangladesh and India will exchange their grand totals of the count within a week.

Joint Secretary (political) to the Home Ministry Kamal Uddin Ahmed said, "Yesterday [Sunday] joint survey teams of Bangladesh and India completed headcount in the enclaves [and exclaves] and the main survey sheets [of each family] will be kept in the volts of DC [deputy commissioner] offices' concerned."

The joint teams conducted the survey based on family, instead of individuals, he said, adding that following the survey each report on a family was photocopied twice. Survey teams concerned of both countries received a copy while the main copy was locked away in the volt.

Bangladesh has 111 enclaves (Indian territories surrounded by Bangladesh) in nine upazilas of four districts--Panchagarh, Lalmonirhat, Kurigram and Nilphamari, and 51 exclaves (Bangladesh territories surrounded by India) in Cochbihar district.

Sources said while counting heads they recorded names, sex, religion, number of family members and some other particulars.

Joint Secretary Kamal Uddin said both countries are preparing the database and they will verify the database reciprocally. When their pieces of information are the same, the work at the ground level is done.

Home ministry sources earlier said they went for headcounts instead of a census as many frustrated dwellers had left the enclaves or exclaves and moved to other convenient places selling their land.

India and Bangladesh decided to conduct the headcounts and gather fundamental data from the dwellers including the amount of land each family owns.

Later, they decided not to gather information about land ownership to avoid lengthy land disputes in enclaves and exclaves, said a home ministry source.

Deputy Commissioner Mokhlesar Rahman Sarker of Lalmonirhat said, "There are 59 enclaves in the district and I coordinated three-day-long (Friday-Sunday) headcounts. Main copies of the headcount in the district are kept in my office volt."

The Adversely Possessed Land and enclaves/exclaves issues are going to be resolved in line with the Mujib-Indira Land Boundary Agreement, 1974.

Home Secretary Abdus Sobhan Sikdar and his Indian counterpart Gopal K Pillai in a fresh initiative had agreed to resolve the dispute at secretary-level talks held in Dhaka earlier this year.

Home ministry sources said the enclave-exclave issue will be settled among other bilateral issues, during the upcoming visit of Indian Prime Minister Manmohan Singh scheduled for September.

Source : The Daily Star

UK Phone Hacking: 'Humbled' Murdoch rejects blame

Rupert Murdoch said yesterday that he cannot be held responsible for the scandal at the News of the World, saying he was let down by "people I trusted".

The News Corp boss said he was not aware of the extent of phone hacking there and had "clearly" been misled by some of his staff.

His son, James, apologised to victims, saying hacking was "inexcusable".

Two hours into the hearing, a man tried to throw a foam pie at Rupert Murdoch and proceedings were briefly suspended.

The protester appeared to lunge towards the News Corp chairman and chief executive but was fought off by a group of people, including Mr Murdoch's wife, Wendi.

A man has reportedly been detained by police.

Rupert Murdoch's appearance before the Commons media committee is the first time he has faced direct scrutiny by MPs during his 40-year UK media career.

He said he was "humbled" to have to explain his firm's conduct to MPs.

Faced with a series of questions from Labour MP Tom Watson, Murdoch paused extensively and his son James made several attempts to intervene.

However, Watson made clear that he wanted to hear answers from the father and not the son.

Rupert Murdoch said his questioning by MPs - who are investigating alleged criminal behaviour at the News of the World and the extent of what senior executives knew - was the "most humble day of my life".

The News Corp boss said he was not aware of the extent of phone hacking at the company until earlier this year when it handed over new information to the police - triggering a new inquiry.

"I was absolutely shocked, appalled and ashamed when I heard about the Milly Dowler case two weeks ago," he told MPs.

Arguing that he ran a global business of 53,000 people and the paper was "just 1%" of this, he said he was not ultimately responsible for what went on at the News of the World.

Asked who was responsible, he said: "The people I trusted to run it and maybe the people they trusted".

Murdoch said he was focused on his US newspaper interests and that he had "perhaps lost sight" of what was going on at the paper, saying he spoke to the editor "very seldom".

Asked by MPs about the closure of the News of the World, he said this was necessary since it had "lost the trust" of the people after recent allegations and was not done for commercial reasons.

On his relationships with senior British politicians, he said he had been asked to No 10 "for a cup of tea" by David Cameron shortly after he entered Downing Street as a recognition of his support for the Conservatives before the election.

He said he had been asked to enter Downing Street by the back door - both by Cameron and former prime minister Gordon Brown - because it would attract less attention.

Tory MP Louise Mensch asked whether - as "captain of the ship" - Rupert Murdoch would resign.

"No, because I feel that the people I trusted, I don't know at what level, let me down and I think they behaved disgracefully, betrayed the company and me and it's for them to pay," he replied.

"I think that frankly I'm the best person to clear this up."

Source : The Daily Star

Sugar prices hit new high

Sugar prices hit all time high on the domestic market this week, putting additional strain on the wallets of consumers who are already battered by rising prices of essentials.

Retailers have been demanding as high as Tk 75 a kilogram for the sweetener in some residential areas in the capital for the past two-three days amid reduced supply and a tendency of hoarding among traders ahead of the fasting month of Ramadan.

At city markets, prices of a kilogram of sugar rose to Tk 68 to Tk 73 yesterday. The last record high price of sugar was Tk 70 a kilogram in September two years ago.

The new record high price comes at a time when people, irrespective of incomes are bearing the brunt of increased cost of living due to rising inflation, led by food items.

In the fiscal year 2010-11, average inflation rose to 8.8 percent soaring past the government revised target of 8 percent.

In the past one month, prices of rice edged up along with onion, potato, vegetables, and cooking oil. Prices of sugar rose by Tk 8.5 a kilogram in the same period, according to Trading Corporation of Bangladesh.

Traders blamed tightened supply due to closure of four out of six sugar refining mills.

Speculations of supply crunch also gave rise to the hoarding tendency ahead of the month of Ramadan when sugar consumption rises 28 percent to 4,000-5,000 tonnes a day to prepare sweet drinks and sweetened food stuff.

High demand pushes up the prices as there is a huge shortfall in supply, said Abul Hashem, vice-president of Bangladesh Sugar Merchants Association.

According to Hashem, daily supply from refiners and importers is at 1,500-2,000 tonnes against the demand for 4,000-5,000 tonnes.

''Prices have reached this level gradually as stocks in the hands of traders dwindle,'' he said, ''Prices will not cool down unless there is substantial supply to the market.''

Despite traders' insistence that there is a supply-demand gap, the government says the private sector has more than 2 lakh tonnes of sugar in hand, and there will be no shortfall during the Ramadan.

There is no reason for a supply-demand gap, said Md Mozibur Rahman, chairman of Bangladesh Tariff Commission, which recommends price structure for sugar and cooking oil to the government.

The spiral in prices is going on at a time when sugar prices remain upbeat on the international market after world's key exporter Brazil slashed its output forecast.

"We are passing a very difficult time for sugar in particular. World market situation is very volatile and prices are going up," said Mohiuddin Monem of AM Sugar Refinery Ltd.

Bangladesh consumes 14 lakh tonnes of sugar a year and more than 90 percent of the demand is met through imports from Latin America, mainly Brazil.

Monem said the sugar market will cool down automatically after two of the four closed refineries resume production.

Of the four refiners, Deshbandhu is likely to resume production soon. While Meghna Group Industries says it will restart its refinery at the beginning of next month.

Source : The Daily Star

Heart of Coal

Black clouds roil in the west. Then the first few drops patter on the soggy earth. Frogs croak.

Osman Gani spits on the ground. "Damn it. It's coming again," he mutters.

Monsoon rains are no new thing for the Bolorampur villagers. But it is different now. The village is sinking; slowly but surely. Their village is going under like many other villages in this remote place called Barapukuria. And when you are sinking, rains can only add misery.

Here around Barapukuria coal mine, what once was prime farmland is now sloshing silvery water. And in that water, 77-year-old Gani goes with a fishing net in hand. His sun-baked face, criss-crossed with aging lines, his slightly stooped back signs of his long days in the field, sowing and reaping crops. Today, he goes to the same field but for fishing.

"Son, this is my fate," drawls the old man, his eyes yellow with age. "My land is right under the water and I have to fish. This mine. This mine has robbed me of my last bit."

In the distant, the chimneys of the power plant of Barapukuria coal mine belch a slow stream of black fume.

When the rich reserve of coal was first located here, excitement sparked through the villages around. This backwater will now prosper, they thought. Money will flow in. Our boys will find jobs.

Money came but not to the farmers. It went right into digging up the earth to bore shafts, to bring out coals. One million tonnes a year, to be exact, which is worth 100 million dollars.

For the farmers came a different thing. This water. The villagers discovered that their land is subsiding. One day the rain came. The land that was their main crop giver suddenly became useless as water stagnated. Then it was just a sea. Trees died, one by one.

Some thought at least fish would come. They did not. Because the mine started pumping out black coal-mixed water and throwing it onto the fields. Very few fish can survive at such ph level. So even if they drag their nets through out the day, only some irrelevant fish would come out.

First the villagers were puzzled. Then they got together and started agitating for compensation. Strangely, the mine project authorities did not foresee this land subsidence that was going to affect at least over four square kilometres of prime land, although this is the common thing that happens wherever shaft mining is done. And so they did not keep provision for compensation.

"So, we formed our own group, Jibon O Sampad Rakkha Committee (committee to save life and property)," says Ibrahim Khalil, the convener. "We started agitating. We held meetings. We said: 'down with mining'."

It was all spontaneous. They found a small shop in the local market where they could meet. They collected some chairs. Put up a banner. And soon people started coming to it. Losing their livelihoods, they had plenty of time to spend away.

Finally the mining authorities saw the logic of the movement and arranged to make up for the crop loss.

"I got thirty five thousand taka for the first crop. And then twenty five thousand taka for the second crop. After that the compensation stopped," says Abdul Gani.

Abdul lost 2 acres of land in the subsidence. From that land he could get 120 maunds of aman paddy and 80 maunds of boro. Multiply them with Tk 800, the price of one maund of paddy, and there you get how much he lost even after the compensation.

As the money stopped, the people got desperate. Their lifestyles slipped. And they scrambled for every possible way to meet their needs.

Abu Musa of Baddyanathpur village found himself in a tough struggle as his one acre of land went under water. That meant he lost one third of his income.

"I desperately needed money to repair my house. I had some bills to settle with the seed stores. So I mortgaged my remaining two acres and borrowed thirty thousand taka from Krishi Bank," says Musa. "And I spent most of it to meet these needs, not for agriculture."

He is now unsure how he will repay the loans.

When the land is gone, so are gone other options of livelihood. Future plans go haywire. And dreams are shattered.

Ibrahim Khalil, the convener of the movement committee, had a plan to set up a brick kiln. He even applied for a loan of Tk 50 lakh with the local Sonali Bank.

"I made all the plans. Where I would build the structure. Where to stack bricks. How to sell. Everything," says Khalil. "But then the letter came. The bank wanted me to get a certificate from the local administration that my land is not inside the coal mine area."

Unfortunately, Khalil's land is. But it has not yet been flooded. The bank thought otherwise. It did not want to take a risk. And so Khalil's dream was shattered.

Like Khalil many others are stuck in one way or another. They cannot sell their lands even if those are not flooded.

"I want to move out of this cursed land," says Rizwanul Haque who already lost 12 acres to the cruel water. "But nobody offers any price for the land which is still dry. I am stuck. Stuck forever."

After all the agitation and commotion, the government finally woke up to the distress of the people and allocated Tk 190 crore as compensation for the land lost -- about 464 acres which the government will acquire. But this has created another kind of tension and flurry of activities.

When the government acquires land, these people will have to move out to other places. And so land prices are going through the ceiling.

"We don't know how much land we can buy with the compensation money. Land prices are going up rapidly," says Abdul Gani who is now left with one and a half acres of land after his six bigha was inundated.

In the village market square, sale notices of land are posted all around. People from Fultali and other nearby places are coming here and posting adverts.

And all this trouble for what? This Barapukuria mine has a reserve of 390 million tonnes. But because of shaft mining, which means boring holes in the ground and then making tunnels around to cut the coal away, only 30 million tonnes of the reserve will be extracted over 30 years. A huge 360 million will remain unused, buried under the earth when the mine will be abandoned. Meanwhile, the country's coal requirement is around 4 million tonnes a year.

Not only that. The mine poses high risks as the slicing of the first layer of coal will end within the next four months and then slicing of the second layer will begin. This second layer will be sliced from under the coal block. This is a risky operation that poses the threat of mine collapse. In China, the country which is doing the Barapukuria mining, about 5,000 miners officially and 20,000 unofficially perish every year due to such accidents.

"This makes no economic sense," says Mainul Haq, local consultant for hydrocarbon unit. "If we opted for open pit mining, all the coal could have been extracted. There are some people who argue that open pit mining is bad because of environment problem. But shaft mining is even worse as Barapukuria and other similar coal mines around the world prove."

If Barapukuria was mined through open pit method which means opening up the mine area in patches, extracting coal, filling it up to restore land and then moving on to another patch a very small area would have been turned into a permanent lake instead of villages after villages as the situation is now.

And as the government mulls mining another coal area in Fulbari, the Barapukuria case is a pointer. The plights of Osman Gani and Ibrahim Khalil and thousand others count when deciding which option we go for.

Source : The Daily Star 

World oil prices rise

World oil prices climbed on Tuesday as traders snapped up cheap crude after European and US debt strains had pulled prices down on Monday, analysts said.

New York's main contract, light sweet crude for delivery in August, firmed 84 cents to $96.77 a barrel.

Brent North Sea

crude for September delivery added 79

cents to $116.84 a barrel in London morning deals.

'I think today is just pretty much a relief rally on the back of heavily sold oil prices yesterday,' said Serene Lim, an oil and gas analyst for ANZ bank.

Prices had slumped on Monday — with New York crude falling 1.35 per cent — as traders fretted over the US impasse and European sovereign debt as officials try to agree a second bailout for Greece.

Source : New Age

market Disclosures

Eastern Insurance
Syed Deedarul Alam, one of the sponsors/directors of the company, has reported his intention to sell 17,000 shares out of his total holdings of 93,312 shares of the company at prevailing market price through the stock exchange within next 30 working days.

Provati Insurance Company
Md Saiful Islam, one of the sponsors/directors of the company, has reported his intention to sell 1,200 shares (bonus shares) out of his total holdings of 11,200 shares of the company at prevailing market price through the stock exchange within next 30 working days.

One Bank
Manzia Jamil, one of the sponsors of the bank, has reported her intention to sell 1,00,000 shares out of her total holdings of 10,58,526 shares of the bank at prevailing market price through the stock exchange within next 30 working days.

Summit Power
Normal trading of the shares of the company will resume today after record date for EGM.

Mercantile Insurance Co
Abdul Haque, one of the sponsors/directors of the company, has reported his intention to sell 7,200 shares out of his total holdings of 67,200 shares of the company at prevailing market price through the stock exchange within next 30 working days.
Hazi Abdur Rahman, one of the sponsors/directors of the company, has reported his intention to sell 7,200 shares out of his total holdings of 67,200 shares of the company at prevailing market price through the stock exchange within next 30 working days.

NCC Bank
Aslam-ul-Karim, one of the sponsors of the bank, has reported his intention to sell 1,50,000 shares out of his total holdings of 19,82,971 shares of the bank at prevailing market price through the stock exchange within next 30 working days.

United Commercial Bank
Further to their price sensitive information dated May 23, 2011 (news disseminated by DSE on May 24, 2011) regarding issuance of bond, the bank has informed that the board of the bank has finalised the following features of the bond: (1) issue size: Tk 350 crore, (2) issue price: 100 per cent at par, (3) denomination: Tk 10 lakh each unit, (4) nature: unsecured non-convertible subordinated debt, (5) tenure: 7 years, (6) listing: non-listed and private placement, (7) interest rate: benchmark rate plus 2 per cent margin and minimum interest rate:11.50  per cent p.a. and (8) redemption: bonds will be amortised in last three years of the tenure as per following schedule: at the end of 5th year: 30 per cent of principal, at the end of 6th year: 30 per cent of principal and at the end of 7th year: 40 per cent of principal.
    Source: DSE
Source : New Age

IEA yet to decide on second oil release

The International Energy Agency has not yet decided whether member countries would conduct a second release of emergency oil reserves, executive director Nobuo Tanaka said on Tuesday.

The IEA in June announced a release of 60 million barrels from emergency stockpiles for one month - the third such move in the agency's history - in a temporary measure to fill a supply gap caused by disruptions in Libyan output.

The release also followed the failure of leading OPEC member Saudi Arabia to convince the group to increase supplies.

'In a pre-emptive move to avoid a serious risk scenario, we released our reserves and we understand the release was a success for now,' Tanaka told Reuters on the sidelines of a

seminar in the city. 'Whether to release further or hold on to wait and see is a matter of decision' by member countries.

The agency was also checking for how long top exporter Saudi Arabia would continue to increase output, Tanaka told the seminar. He said many market participants expect the kingdom to keep output at higher levels in July.

Before announcing the latest emergency release, the IEA had held consultations with the kingdom and received a pledge from the OPEC leader that it would keep output at raised levels, Tanaka also said.

In defiance of a refusal by the Organization of the Petroleum Exporting Countries to back an output rise, Saudi Arabia independently increased its output, which hit 9.8 million bpd in June, a senior Gulf OPEC delegate told Reuters.

The IEA's oil market report released last week showed Saudi Arabia had raised output by 7,00,000 bpd in June from a month earlier.

The agency is also assessing how much of the oil it decided to release last month had reached the market, said Tanaka, on his last official trip before his term ends on August 31.

The IEA is aiming to complete consultations with all 28 member countries by July 23 and decide whether to draw further from emergency stocks, he added.

Source : New Age

Pakistan accepts central bank head’s resignation

Pakistani prime minister Yousuf Raza Gilani has accepted the resignation of the head of the central bank who stepped down last week at a time of immense turmoil in the economy.

Gilani's office said deputy governor Yasin Anwar had been appointed acting governor of the State Bank of Pakistan, to replace Shahid Hafiz Kardar.

There was no mention of the reasons for the resignation, which the government said was tendered Friday.

Kardar had been on the job only nine months after being appointed in September. His predecessor Syed Salim Raza stepped down for 'personal reasons' after staying in office for around 16 months.

In its budget for the new fiscal year 2011-2012, the government last month raised defence spending by 11 per cent and government employees' pensions by 20 per cent, leading to a deficit of four per cent of GDP.

Source : New Age

Iran warns it may halt crude supplies to India

Iran on Tuesday issued a new warning that it will halt supplies of crude to India unless the issue of billions of dollars in overdue payments is resolved.

'If the Iranian side feels it cannot receive the money for its exported oil punctually and under desirable conditions, it will reconsider' its crude exports to India,' foreign ministry spokesman Ramin Mehmanparast told his weekly press conference.

India is Iran's second largest client after China and absorbs about 20 per cent of its crude exports, but New Delhi has been struggling for more than six months to pay Tehran due to international banking sanctions imposed on the Islamic republic over its nuclear programme.

Central Bank of Iran chief Mahmoud Bahmani has estimated India's overdue crude payments at around $5 billion, according to the official IRNA news agency.

In early July, Iran said it had 'seriously warned' Indian refineries of the possibility of a halt in oil exports because of overdue payments.

And on Monday Fars news agency, quoting an unnamed Iranian oil official, said crude deliveries to India for August would be withheld unless the payment problems are resolved.

Commenting on the Fars report, Mehmanparast told AFP Tuesday the Iranian side 'will review the issue, if there is a problem (over payments), the transaction will be halted. If there are no problems, it will continue.'

Source : New Age

SEC approves rights offer of two companies

The Securities and Exchange Commission on Tuesday approved rights offer of International Leasing and Financial Services Ltd and Federal Insurance Company Ltd.

SEC executive director, Saifur Rahman, said, 'The commission approved rights offer of the two companies to help increase share supply in the market.'

He said the commission has plans to introduce fresh companies to the market to widen the choice of the investors in the future.

SEC approved the rights offer of ILFSL at a ratio of one right share for one existing share for 81,46,600 ordinary shares of Tk. 100.00 each at face value, amounting Tk. 81,46,60,000.

The commission also approved rights offer of Federal Insurance at a ratio of two rights shares for one existing share for 2,24,39,480 ordinary shares of Tk. 10.00 each at face value, amounting Tk. 22,43,94,800.

Source : New Age

BB launches online service for faster CIB report sharing

The Credit Information Bureau of Bangladesh Bank started its online credit information service from Tuesday.

BB governor Atiur Rahman inaugurated the online service at a function at Ruposhi Bangla Hotel in the capital.

The newly established automated CIB will provide credit related information for prospective and existing borrowers including credit history of last two years.

The BB governor was the chief guest at the function while BB deputy governor Nazrul Huda, Ian Crosby of IFC-SEDF advisory services and Catherine Martin of DFID spoke on the occasion.

Atiur said that some 5,000-6,000 queries about applicants for bank loans are made to the CIB every day and it takes around one week to respond to them. 'But from now on it will be done within seconds.'

He said that CIB provided more than 10 lakh credit information reports in 2010. At present there are 92.50 lakh borrowers in the banking system. Atiur said that the online service of the CIB would reduce the cost of doing business and will ease the business.

'It will help to improve good governance as online CIB will provide the necessary information quickly about the participants of the national and local elections if asked by the Election Commission,' he said.

Atiur said, 'Banks and financial institutions will access credit reports from CIB online at their own sites instead of the time consuming process of applying for and obtaining reports printed on paper.'

He termed the CIB online inauguration as a milestone for the development of the banking sector and the economy.

According to the existing provisions, if any client of a bank or financial institution wants to take a loan of $725 or Tk 50,000 or more, that bank or NBFI needs to collect the CIB report from the central bank to check whether the client is a loan defaulter or has any outstanding loans with any other bank or financial institution, said a BB official.

Source : New Age

BB launches online service for faster CIB report sharing

The Credit Information Bureau of Bangladesh Bank started its online credit information service from Tuesday.

BB governor Atiur Rahman inaugurated the online service at a function at Ruposhi Bangla Hotel in the capital.

The newly established automated CIB will provide credit related information for prospective and existing borrowers including credit history of last two years.

The BB governor was the chief guest at the function while BB deputy governor Nazrul Huda, Ian Crosby of IFC-SEDF advisory services and Catherine Martin of DFID spoke on the occasion.

Atiur said that some 5,000-6,000 queries about applicants for bank loans are made to the CIB every day and it takes around one week to respond to them. 'But from now on it will be done within seconds.'

He said that CIB provided more than 10 lakh credit information reports in 2010. At present there are 92.50 lakh borrowers in the banking system. Atiur said that the online service of the CIB would reduce the cost of doing business and will ease the business.

'It will help to improve good governance as online CIB will provide the necessary information quickly about the participants of the national and local elections if asked by the Election Commission,' he said.

Atiur said, 'Banks and financial institutions will access credit reports from CIB online at their own sites instead of the time consuming process of applying for and obtaining reports printed on paper.'

He termed the CIB online inauguration as a milestone for the development of the banking sector and the economy.

According to the existing provisions, if any client of a bank or financial institution wants to take a loan of $725 or Tk 50,000 or more, that bank or NBFI needs to collect the CIB report from the central bank to check whether the client is a loan defaulter or has any outstanding loans with any other bank or financial institution, said a BB official.

Source : New Age

Traders raise gold price to nearly Tk 50,000 a vori

Local traders on Tuesday increased the price of gold by about Tk 1,166 per vori (11.66 gram) to around Tk 49,555 following the continued rise of prices on the global market.

The price of 22-carat gold, which stood at around Tk 48,389 in May this year, has seen 2.41 per cent rise over the last two months, jewellers said.

Bangladesh Jewellers' Association on Tuesday declared the latest price hike of gold.

The price of 22-carat gold was increased to Tk 4,250 a gram or Tk 49,555 per vori from Tk 4,150 per gram or Tk 48,389 per vori.

The price of 21-karat gold was raised to Tk 4,060 a gram or Tk 47,340 per vori from Tk 3,965 per vori or Tk 46,232 per vori and 18-karat gold to Tk 3,615 a gram or Tk 42,151 per vori from Tk 3,535 a gram or Tk 41,218 per vori.

There are nearly 20,000 jewellery shops across the country, including 1,200 in Dhaka, and all of them follow the prices set by the BJA.

Bangladesh Jewellers' Association general secretary Shahinur Islam Shahin said that the association had to increase the gold price again within two months because the price increased at the international market.

Shahin said that gold price increased on the international market because of rising inflation, weakening of dollar, volatility in global forex market, and oil and commodity price hike that led to more investments in gold.

He said people were preferring investment in gold bond to using gold as ornaments.

Jewellers claimed sales of gold jewellery have slumped by more than 50 per cent over last five years as the demand for ornaments has declined in line with the soaring price of the precious metal.

They also claimed that demand of gold jewellery will decline further as the government increased the value added tax imposed on sales of jewellery to 4.5 per cent in the fiscal year from 1.5 per cent in last fiscal.

According to BJA records, in October 2004 gold sold at Tk 9,700 a vori, up from Tk 8,800 in September 2003. Gold price in mid-January 2006 was recorded at Tk 14,100 per vori.

The gold price on international market hit a record $1,600 an ounce

on Monday.

Source : New Age

Health services insufficient: workshop

Participants in a programme in Sylhet on Tuesday pointed out that the healthcare management in the urban areas was weaker than that in the rural areas.

They said the existing health service was not sufficient considering the requirement and even was not as per the standard in all areas when non-government organisations besides the government agencies were working in the field.

The discussants also said bringing strategic change in the national health policy as well as 6th five-year plan of the government was imperative.

They said these addressing a workshop on 'draft urban healthcare strategy' in the Sylhet City Corporation conference room in the morning.

Sylhet city mayor Badar Uddin Ahmad Kamran addressed the programme as chief guest and urban health specialist AMM Shawkat Ali, also a former adviser to a caretaker government, placed the keynote paper in the programme.

SCC health-affairs standing committee president Mohammad Shahjahan presided over the workshop arranged in association with the ministry of local government, rural development and cooperatives and the ministry of family planning to prepare an urban healthcare strategy.

Former bureaucrat (secretary) Waliul Islam, Sylhet Metropolitan Police commissioner Amulya Bhushan Barua, additional district magistrate Shahidul Alam, district bar association president EU Shahidul Islam and SCC chief health officer Sudhamoy Mazumdar, among others, addressed the programme.

The mayor said the corporation, with its shortage of manpower, was trying its best to provide healthcare facilities for the citizens.

'Sylhet City Corporation will be able to enhance the quality of service if its workforce is increased,' Kamran added. 

More than one hundred officials of the city corporation, public and private institutions and non-government organisations participated in the workshop.

Source : New Age

N’ganj City Corpn declares 27 wards

Narayanganj deputy commissioner Mohammad Shamsur Rahman, also in charge of demarcating the wards of the newly formed city corporation, declared its 27 wards on Tuesday.

He had also announced the wards under which nine seats for women councillors would be reserved as per the city corporation rules.

His office had asked those not agreeing to the demarcation to place their complaints by July 31.

Source : New Age

JS panel asks BTRC, BTCL to end manpower crisis

The parliamentary standing committee on public undertakings has asked the Bangladesh Tele-

communication Regulatory Commission and the Bangladesh Tele-

communications Company Limited to resolve their shortage of manpower.

The committee has also asked the two institutions to increase their manpower and recruit efficient people.

The 47th meeting of the committee on Tuesday suggested that the Bangladesh Telecommunication Regulatory Commission should be more active in increasing revenue and monitoring activities.

It has also asked the commission to finalise the licensing policy at the earliest and quick disposal of unresolved audit objections.

Source : New Age

Hasina recounts her deprivation in student politics in ‘60s

Recounting the days of her student politics four decades ago, the prime minister, Sheikh Hasina, on Tuesday lamented that despite hard work she was not offered any post in Chhatra League central committee by the then student leadership.

Narrating her sordid experience to immediate past Chhatra League leaders at Ganabhaban in the evening she said even after being elected as the vice-president of the Students' Union of Government Intermediate Girl's College in 1966 when the six-point movement was on its peak, she was not given any post nor inducted in the Chhatra League central committee as a simple member.

Hasina who had actively participated in students' politics said the then governor of East Pakistan Monaem Khan took all efforts so that the daughter of Sheikh Mujib could not win the students' union election.

At that time she was the only elected VP of a college students' union in Bangladesh.

As Hasina was recollecting her memory, the then students' leaders and Dhaka University VP Tofail Ahmed, Suranjit Sengupta and other leaders were sitting beside her on the small podium.

Tofail was seen smiling when the prime minister was telling the story of her deprivation in student politics. 'I did not get the reward despite hard work… I had to be satisfied with a simple member of Dhaka University unit of the Chhatra League,' she said.

At this point, Suranjit was seemed amused and told the prime minister that if she would have been in Chhatra Union, she would have given a post.

Hasina said during those days Chhatra Union of Matia Chowdhruy and Rashed Khan Menon were their main rivals although she had good personal rapport with them.

The prime minister told the story when former Chhtra League leaders requested her to evaluate them in future politics.

Hasina expressed the hope that after listening to her own deprivation, the young leaders would forget their sorrows. The former Chhatra League leaders ended up in laughter.

Hasina graduated from Dhaka University in 1973. She was a member of the DU Chhatra League unit and secretary of the Chhatra League Rokeya Hall unit.

Source : New Age

JS panel asks BTRC, BTCL to end manpower crisis

The parliamentary standing committee on public undertakings has asked the Bangladesh Tele-

communication Regulatory Commission and the Bangladesh Tele-

communications Company Limited to resolve their shortage of manpower.

The committee has also asked the two institutions to increase their manpower and recruit efficient people.

The 47th meeting of the committee on Tuesday suggested that the Bangladesh Telecommunication Regulatory Commission should be more active in increasing revenue and monitoring activities.

It has also asked the commission to finalise the licensing policy at the earliest and quick disposal of unresolved audit objections.

Source : New Age

Preschoolers mourn Nuha shot dead by robbers

Dozens of preschoolers of Aroni Biddalaya gathered on the National Press Club premises on Tuesday with placards and portrait of their schoolmate Nuha, a three-year-old girl who was shot dead by robbers on a highway near Cox's Bazar on July 2.

Nuha, a preschool student of the institution at Dhanmondi, was killed by robbers while travelling with her parents from Dhaka to Cox's Bazar.

During the trip, a gang of robbers stopped their car near Khutkhali in Cox's Bazar at night.

As the car tried to speed away, the robbers fired from behind.

Nuha was in her father's lap when a bullet pierced her head.

Citizen's Security Forum demanded a proper investigation of the incident arrest of Nuha's killers.

At a human chain in front of the National Press Club, participants said that citizens had been held hostage by criminals as law enforcement agencies were not performing their duties properly.

Nuha's father Zahirul Haq said the citizens had no security of lives.'We vote for Sudarban and feel proud of Cox's Bazar, but we cannot ensure law and order at the tourist spots.

Nuha's mother Shamima Yasmin said that only a privileged section was enjoying security.

A murder case was filed in this connection with Chakaria police.

Four accused were arrested after surrender on July 4.

More than 15 robbers were involved in the incident.

Source : New Age

Govt urged not to let Parimal get away

A number of socio-cultural and rights groups on Tuesday staged protests against sexual harassment of a student of Viqarunnisa Noon School and College and demanded exemplary punishment of Parimal Jayadhor, a teacher of the college arrested on charge of raping the girl.

Parimal, a teacher of Bangla at the school's Bashundhara campus, allegedly sexually abused the student and videoed the scene with his mobile phone. He confessed to have committed the crime in his statement to a magistrate on July 11.

Students of the institution have been staging protests against the incident for more than a week demanding punishment of Parimal for the crime and removal of Husne Ara as principal for defending the accused.

The government on July 14 appointed assistant professor Manju Ara Begum of the college as acting principal in the face of protests.

Sammilita Nari Samaj formed a human chain in front of the National Press Club on Tuesday demanding punishment of Parimal.  Representatives of different organisations attended the programme.

Among others, Sammilita Nari Samaj coordinator Lovely Akhter, rights activist Farida Akhter and Shahinur Begum of Shrama Bikash Kendra spoke at the programme.

They demanded exemplary punishment of Parimal and the people who had defended him. They said the government should not delay investigation of the case as the incident had caused a sense of insecurity among the girl students of different educational institutions. They accused the government of trying to save Parimal and urged the education minister to take immediate action.  

Jatiya Abhivak Parishad also formed a human chain in front of Rabindra Sarabar to push the same demand. Muktijuddher Prajanma president Shama Obaid spoke at the programme.

Source : New Age

JS panel asks BTRC, BTCL to end manpower crisis

The parliamentary standing committee on public undertakings has asked the Bangladesh Tele-

communication Regulatory Commission and the Bangladesh Tele-

communications Company Limited to resolve their shortage of manpower.

The committee has also asked the two institutions to increase their manpower and recruit efficient people.

The 47th meeting of the committee on Tuesday suggested that the Bangladesh Telecommunication Regulatory Commission should be more active in increasing revenue and monitoring activities.

It has also asked the commission to finalise the licensing policy at the earliest and quick disposal of unresolved audit objections.

Source : New Age

BNP won’t get further chance if it fails to join talks today: CEC

The chief election commissioner, ATM Shamsul Huda, on Tuesday said that main opposition Bangladesh Nationalist Party would get no further chance to sit with the commission if the party failed to attend the dialogue scheduled for today.

The dialogue between the ruling Awami League and the Election Commission was not held on Tuesday as the ruling party expressed its inability because of the weekly cabinet meeting. The commission decided to sit with the Awami League in the first week of August as the party sought fresh date for the dialogue.

As for BNP, Shamsul on Tuesday said, 'The main opposition BNP will be

given no further chance to sit with the commission if they do not attend the dialogue scheduled for Wednesday.

'We have no more time. We have to prepare the summary of the series

of dialogue and submit

it to the government,' he added.

On June 13, the BNP did not participate in the dialogue with the commission, which later invited the party again to the talks on any day between June 19 and June 21.

The BNP in a letter rejected the Election Commission's invitation to the dialogue, branding the commission as 'controversial' and accusing it of indulging itself in 'biased and motivated' acts.

'The present commission has lost the people's trust for its weak and

partisan attitudes. A discussion with such a

commission on electoral matters will be of no benefit because it will not ensure the holding of

fair elections,' said the letter signed by the BNP's acting secretary general, Mirza Fakhrul Islam Alamgir.

The BNP-led alliance partner Jamaat-e-Islami and two other parties, Bangladesh Jatiya Party and Jamiyat-e-Ulama-e-Islam, also skipped the dialogue.

An Awami League delegation, meanwhile, handed over a letter requesting the commission to set a new date for talks, part of a series of dialogues with the registered political parties on electoral reforms.

The party's office secretary Abdul Mannan, also the state minister for public works, and his deputy in the party Mrinal Kanti Das reached the letter to the commission in the morning.

Explaining the matter, Mannan said, 'Meetings with the commission and of the cabinet are both important. Monday's cabinet meeting was deferred to Tuesday as the day was a public holiday on the account of Shab-e-Barat.'

He also said that many of the cabinet members were scheduled to join the dialogue. 

The dialogue was first slated for June 9. But the date was shifted to June 18 as the Awami League could not attend dialogue because of the placement of the national budget in the parliament. The dialogue was later rescheduled for July 19.

He said that the dialogue with the Awami League is likely to be

held in the first week of August.

Source : New Age

Govt sets Ramadan office timing

The government on Tuesday set office hours from 9:00am to 3:30pm for government, semi0government, autonomous and

semi-autonomous organisations for Ramadan with a 15-minute break from 1:15pm.

Ramadan begins in the first week of August.

The offices usually remain open from 9:00am to 5:00pm with an hour's break for launch and the zuhr prayers from 1:00pm to 2:00pm.

The cabinet approved the proposal of the public administration ministry on Ramadan office timing at its weekly meeting at the secretariat. The prime minister, Sheikh Hasina, presided over the meeting.

'The Supreme Court along with banks, insurance companies, Bangladesh Railway and other such organisations will set their own timetable for Ramadan according to their rules and regulations,' the prime minister's press secretary Abul Kalam Azad told reporters after the meeting.

The cabinet also adopted a motion of condolence on the deaths of 40, including 38 schoolboys, in the traffic accident at Mirsarai in Chittagong on July 11, he said.

It approved a proposal of the Economic Relations Division for the ratification of the Agreement for the Economic and Technical Cooperation signed between Bangladesh and Kuwait, according to the press secretary. 

Source : New Age

Talk-shows spreading canards against govt: PM

The prime minister, Sheikh Hasina, on Tuesday accused television talk-shows of spreading canards against the government ignoring its development activities.

At a cabinet meeting at the secretariat, she said that guests and media personalities in the talk-shows always spoke negatively and found

faults with the government.

'A negative campaign against the government is going on through the TV talk-shows. Speakers at the talk-shows do not find anything positive about the government's activities. They criticise whatever the government is doing,' a minister quoted the prime minister to have told the cabinet meeting.

Talks-shows, particularly those hosted by the private television channels, have become popular in recent years. Journalists and other professionals, including politicians and academics, take part in the discussions on current issues in the talk-shows.

Hasina asked her cabinet colleagues to focus on the government's development activities while attending media programmes, including talk-shows, said the minister.

Tuesday's cabinet meeting approved a proposal for awarding former Indian prime minister Indira Gandhi posthumously for her assistance to the liberation war of Bangladesh in 1971.

'Late Indian prime minister Indira Gandhi will be honoured with the "Bangladesh Swadhinata Sammanana", the highest state honour, in recognition of her outstanding contributions to the Liberation War of Bangladesh,' the prime minister's press secretary Abul Kalam Azad told reporters after the cabinet meeting. 

He said president Zillur Rahman would hand over the posthumous award for Indira Gandhi to her daughter-in-law Sonia Gandhi at Bangabhaban during her visit to Dhaka scheduled for July 25.

Sonia Gandhi, president of Indian Congress Party, will visit Dhaka at the invitation of prime minister Sheikh Hasina to attend a seminar on autistic and disabled children.

The cabinet earlier decided to honour 47 foreign nationals and five institutions in recognition of their great contributions to the country's war of independence in 1971 in three categories – Bangladesh Swadhinata Sammanana, Bangladesh Muktijuddha Sammanana and Bangladesh Muktijuddha Maitri Sammanana.

The cabinet meeting also endorsed the second quarterly report on implementation of its decisions during April-June 2011.

The press secretary said that the Awami League-led government had implemented 670 decisions out of 759 taken by the cabinet since January 2009. 

Source : New Age

1 killed in post-polls clashes in Comilla

A man was killed and five others were injured in post Union Council polls clashes between two rival groups at village Gopalpur at Ziarkandi union council at Titas in Comilla on Monday night.

Local people said supporters of newly-elected Ziarkandi UC chairman Emdad Hossain attacked Saju, Helal and Sabuj, followers of defeated chairman candidate Abul Khair Akhand when they were gossiping at Gopalpur Bazar Bridge at about 9:00pm on Monday.

The attackers kidnapped Helal and beat Saju and Sabuj, also a cousin of the vanquished chairman candidate Emdad.

Hearing their shout for help, local people rushed in and rescued injured Saju and Sabuj and admitted them to Gouripur Hospital in Daudkandi.

Later, Helal was found hacked at Gopalpur Doctor Khondoker Mosharraf Hossain High School ground that night.

Angered at the attack and murder, Abul Khair's supporters allegedly ransacked and looted business establishments of Emdad, injuring shop employees Billal, Mohsin and Jalal.

The injured were admitted to Titas Upazila Health Complex.

Abul Khair complained that supporters of Emdad used to torture his followers before the polls last month.

In sequel to the rivalry, they slaughtered his cousin Helal, he said.

Declining the allegation, Emdad claimed that Abul Khair's supporters ransacked and looted his business establishments, leaving his employees injured.

Titas police officer-in-charge (investigation) Nabeer Hossain said they picked up nine people in this connection at night but released seven of the arrested later.

Abdul Malek, father of Helal filed a case accusing 14 people of murdering his son.

Source : New Age

BNP, allies to stage demo on July 23

Main opposition BNP and allies announced Tuesday that they would hold countrywide demonstrations on July 23 to press the demand for the repeal of the 15th amendment to the Constitution which abolished the election time non party caretaker government and to push other issues.

BNP said that it would also protest against Awami League led government's conspiracy to eliminate the

opposition to remain in power perpetually.

BNP said that the Awami League led government's 15th Constitution amendment designed to cling to power by holding rigged elections under |

its own supervision was not acceptable to the nation.

It said that the 15th amendment snatched the people's right to franchise.

BNP said that the Awami League led government was out to eliminate the opposition so that it could remain in power permanently.

 BNP said that the Awami League led government hatched a conspiracy against Zia family so that it could continue in power without any opposition.

BNP said that with the same objective the government issued arrest warrant against BNP senior vice chairman Tarique Rahman under supplementary charge sheets.

The opposition demonstration would also protest against recent police brutality on the opposition chief whip Zainul Abdin Farroque.

The opposition would hold the demonstrations in protest against all these issues in all divisional and district towns across the country on July 23, BNP acting secretary general Mirza Fakhrul Islam Alamgir announced at a news briefing after  a joint meeting at the central office of the party at Naya Paltan.

In Dhaka, he said, BNP would take out the protest procession from the party's central office.  

He said that the government was obstructing opposition political activities. 

He hoped that the government would not obstruct the opposition programmes on July 23.

He said that the government that would be held responsible for obstructing the peaceful programmes of the opposition.

He said that Awami League government's constitution amendment curbed freedom of expression and religion.

Mirza Fakhrul said that the government was using the newly incorporated Article 7 (Ka) in the 15th amendment to the constitution to file sedition cases.

Fakhrul said the ongoing movement of BNP seeks to restore the democratic and other rights of the people taken away

by the 'fascist and autocratic' Awami League led regime.

He said that the Awami League led government utterly failed to implement the pledges it made to the people before the election.

He said that for its anti people activities Awami League led government has become isolated from the people.

Fakhrul said that headed for a certain defeat in the next election, the Awami League led government misused its brute majority in parliament to hurriedly abolish the election time non- party caretaker government system through the 15th amendment to the constitution so that it could hold rigged elections under in own supervision.

He said Awami League wants to remain in power perpetually.

BNP vice chairmen Altaf Hossain Chowdhury and Abdullah Al Noman, chairperson's advisers Shamsuzzman Dudu and Dr AZM Zahid Hossain, joint secretaries general Amanullah Aman, Salahuddin Ahmed and Ruhul Kabir Rizvi were present at the news briefing.

 Jamaat acting secretary general ATM Azharul Islam announced a similar programme at a news conference at the party's central office at Maghbazaar.

Islami Oikya Jote secretary general Abdul Latif Nejami told New Age that they would announce the same programme today.

Source : New Age