Steve Jobs, CEO (Apple)

Steve Jobs is the CEO of Apple, which he co-founded in 1976. Apple leads the industry in innovation with its award-winning Macintosh computers, OS X operating system, and consumer and professional applications software. Apple is also leading the digital music revolution, having sold over 110 million iPods and over three billion songs from its iTunes online store. Apple entered the mobile phone market this year with its revolutionary iPhone.
Steve also co-founded Pixar Animation Studios, which has created eight of the most successful and beloved animated films of all time: Toy Story, A Bug's Life, Toy Story 2, Monsters, Inc., Finding Nemo, The Incredibles, Cars and Ratatouille. Pixar has won 20 Academy Awards and its films have grossed more than $4 billion at the worldwide box office to date. Pixar merged with The Walt Disney Company in 2006 and Steve now serves on Disney's board of directors.
Steve grew up in the apricot orchards which later became known as Silicon Valley, and still lives there with his wife and three children.

Foreign banks cautious over farm credit

Foreign commercial banks seem cautious to make comments on Bangladesh Bank's (BB) decision to make farm loans mandatory for all banks operating in the country. They said they are waiting to receive details of the BB decision and directives before talking on their next course of actions on the issue. They said at present they do not provide any farm credit.
The central bank on Tuesday decided to make disbursement of agricultural credit to the farmers mandatory for all banks to facilitate farming activities to ensure food security. The BB took the decision at a meeting of Agriculture Credit Monitoring Committee. To comply with the BB decision, banks will have to introduce a 'revolving crop credit limit', distribute loans to farmers through identity cards and issue collateral-free loans to fishermen and sharecroppers. “We are aware of the news, but have not received the circular from Bangladesh Bank as yet,” said Mahbub-ur-Rahman, head of corporate banking of HSBC. “We are committed to comply with the regulatory guidelines which are issued by the central bank from time to time," said Rahman. Standard Chartered Bank (SCB), another major foreign bank operating in the country for long, also echoed HSBC. “We have been informed about the news through media. We are now waiting for detailed direction from Bangladesh Bank in this regard,” said Sarwat Ahmad, senior manager of SCB's corporate affairs. A Citi NA official said the bank authority would not make any comment before receiving the BB guidelines on mandatory credit to the farmers. Private Banks however hailed the BB move, saying the decision would help the country achieve food security through increased agricultural production. Shahjahan Bhuiyan, managing director of United Commercial Bank, termed the central bank's move to make farm loan mandatory for all banks as 'an excellent decision'. “Increasing farm credit will help boost food production in the country,” Bhuiyan said. Bangladesh has set a target to disburse Tk 9,379 crore as agricultural loan this fiscal year, a 13 percent increase from the last fiscal year. The agricultural loan disbursed last fiscal year was Tk 8,308 crore, Tk 6,974 crore of which being disbursed by nine government-owned banks, according to BB statistics. The government has been persistent in pursuing banks to provide farm credit for the sake of the economy and the farmers, which has not been met with much response by the banks. However, in recent times private banks have come up with an increased amount of farm credit, seeing the market and the profit margin in this. Some 30 private banks disbursed Tk 2,048 crore of farm credit in fiscal 2007-08, which was almost half in the previous fiscal year. The private commercial banks have set a target for disbursing 55 percent more than in the previous fiscal year in agricultural loan, Nazrul Huda added. No foreign banks operating in the country disbursed any loan for agriculture. “Currently, we do not provide any credit for agriculture. But we lend for agro-based industries,” Sami A Hafiz, a spokesman of HSBC, said.

Asian stocks down

Asian stocks tumbled Thursday after ailing US investment bank Lehman Brothers hit investor sentiment by posting more hefty losses due to the global financial crisis and credit crunch.
The bourses in Hong Kong, mainland China, Taiwan and Singapore all slumped more than three percent. Japan, Asia's biggest bourse, and Australia each shed almost two percent.
Taiwan fell even though the government announced an economic stimulus package of 5.6 billion US dollars. South Korea slid around 1.5 percent as its central bank kept interest rates steady. Lehman announced plans Wednesday to sell off key assets to shore up its finances as it posted big losses linked to the US subprime real estate crisis. The beleaguered Wall Street firm, seen as in desperate need for a capital injection, lost an estimated 3.9 billion dollars in its fiscal third quarter amid fresh writedowns on mortgage assets. The bank's results put the focus back on the meltdown in the subprime, or higher risk, mortgage sector, which sparked a global credit squeeze that has hit world economic growth.
Among smaller Asian markets Thursday, India and Malaysia tumbled around two percent, while Thailand and the Philippines fell 1.3 percent.

Policy dilemma holds back e-commerce takeoff

The government's lingering hesitancy in the execution of the policy on information and communication technology even six years into its formulation remains the main hurdle to e-commerce, say people in the ICT sector. E-commerce is an internet-based platform used for electronic transactions. The device facilitates anyone's purchase of products or handling of day-to-day transactions for any purpose, sitting in an internet-friendly environment. Since the formulation of the National Information and Communication Technology Policy in 2002, the introduction of e-commerce has been delayed for lack of infrastructure. When neighboring India's e-commerce market crossed over Rs 9,000 crore last fiscal year, Bangladesh is yet to set up the required platform -- certifying authority and electronic payment gateway -- to march forward, the sector people say. Meanwhile, the central bank's policy of not allowing credit cards for online purchase also goes against the concept of e-commerce. However, some sector-based websites on transportation and auction have already developed in Bangladesh. But the limitation in this case is customers' physical presence is required to benefit from the sites.Amir Chowdhury, policy adviser to the Access to Information Programme at the Chief Adviser's Office (CAO), also hinted at a further delay in setting up an electronic payment gateway. "A number of recent meetings between the central bank and different stakeholders, held at the CAO, recommended the establishment of this platform in a span of six months,” he said.
From 2002 to 2006, the year the government passed the Information and Communication technology Act, a considerable number of committees were formed and sessions of talks held to introduce e-commerce, but all efforts were confined to transferring the issue from one government agency to another, industry insiders say. As per the Clause 18 in the ICT law of 2006, it was the government's obligation to form a certifying authority within 90 days after the passage of the law. The main responsibility of this body is to regulate the e-commerce merchants who develop online sites. "The certifying authority has not yet been established, which is required to authenticate digital signatures of online customers and the merchants as well," said Habibullah N Karim, president of Bangladesh Association of Software and Information Services (BASIS). The taskforce committee on internet-banking made recommendations last week to decide on the digital signature for online shopping and other transaction. “We are working on it. A team comprising government and UNDP officials visited Singapore recently to see how it is functioning there,” said Lusa Mirza, consultant, Access to Information Programme of UNDP, which is supporting the government on the issue. Now a team of domestic and foreign consultants is working on to formulate rules and regulations for digital signature, she said, adding that the 1972 Evidence Act might need to be amended. Who should handle electronic payment gateway? The debate on ownership of the gateway also surfaced in the last few months. IT entrepreneurs, and banks both are interested to own the gateway. BRAC Bank has already proposed to the Bangladesh Bank to set up the gateway, but rejection from other banks held back the move, said Access to Information Programme officials.
"The gateway could be established on private ownership or on public private partnership basis," said Shoeb Ahmed Masud, a member of the BASIS executive committee who represented in some committees made for e-commerce execution. Central Depository Bangladesh Limited (CDBL), the operator of central depository system of the capital market, could be an example of setting up such kind of gateway, he said. Experts see a wider business activity on the introduction of e-commerce in the country. "If government introduces e-commerce, its revenue earnings will jump significantly. Any government's levy including income tax, bills and corporate tax could be paid without any hassle," said Masud. The purchase of various things ranging from transportation tickets to anything from mega shops without physical presence is possible by e-commerce, the BASIS official added.

But low internet penetration (below one percent) is another setback to boosting e-commerce. At present, only one million people use the internet in the 150 million populated country. "Internet access costs are still high, which hinder widespread use of online services," said the BASIS president. However, the internet usage is expected to increase, as the telecom regulator has recently taken measures to introduce a range of wireless internet services. Referring to India's tourism market, a web portal developer said: "When India earns more than its expectation from the e-commerce based tourism industry, our government high-ups end up with series of parleys." The size of online travel industry stands at Rs5500 crore at the end of fiscal 2006-07, according to a study by Internet and Mobile Association of India. Kamal S Qaudir, chief executive officer of Cellbazar, the country's largest mobile based e-commerce owner, said: "E-commerce, or to be more precise m-commerce, has more potential in developing countries such as Bangladesh because it brings a new paradigm where none existed before." "Bangladesh cannot afford to delay e-commerce or m-commerce any further (in fact we are quite late as neighbouring countries are far ahead)," he said.

Marketing India

There are certain Indians who make you feel good about being a Bangladeshi, who give you a warm glow that despite all that razzmatazz and heavyweight tiffin boxes and big brains like Amartya, they too produce and consume their quota of trash. Shobhaa De is one of them. She is a writing phenomenon, whose books sell all over India, and in Pakistan too (where all the good and high society people fell over each other to fete her when she did a tour there not so many months back), and bring in a hefty chunk of change for her publishers Penguin India. Since I have never read any of her books, I only had a vague idea that she wrote romance novels. That's going by the perhaps less than solid evidence of having seen her on Zee TV a couple of times flaunting her cheekbones.

She was once a film journalist, and the style has stayed with her, as witness the writing in this collection of her articles titled Superstar India: From Incredible To Unstoppable? She picks a topic, any topic, Benazir Bhutto, her Brahmin childhood, old people, Dalits, cricket, NRIs, and dashes off her views. But she is most herself writing on her trips abroad, to Shanghai, London or Bangkok , which can at times be funny, but always is primed to showcase her as a tasteful, charming, older, discriminating crumpet. It is a lethally appetizing diet for the average middle-class English language reader, primarily women, running harried from day to endless day, since it provides, as opposed to the straight porn of romance novels, the more tangible, more 'real life' porn of the romance of the high life. Especially if mixed in with such musings as: “Hate creates votebanks. Tolerance doesn't. It's that simple.” Underpinning all this is a not-so-subtle India boosting (witness the title, the big clue!) where the formula is to give the bad news first: Yes, yes, India is smelly with its terrible roads and lepers-beggars, and then the good news: So you think the West is so terrific with its tasteless ham-and-cheese sandwiches and East European migrant waiters with undecipherable accents? Then comes the clincher: So where would you be, in India with its silks and colours and raths, or over there somewhere?

In present day Manmohan Singh's India, with its trendy ads, its singles in 'swinging' Bangalore, its fashion world and Hindi soaps, it is Shobhaa De, not India, that is unstoppable. She's figured out how to market Brand India (40,000 copies hit the bookstores on the first day, which is a huge run for an English language book even in the Indian book market). If you're so inclined you'll enjoy the book.

I couldn't go beyond the first 50 pages, then I skimmed it, but only because the editor of this page said I had to submit a review. No thanks to him

RMG's duty-free access to US faces setback

Bangladeshi readymade garments (RMG) may face a setback in its effort to win duty- and quota-free access to the American market as US authorities have responded positively to the appeal of few African countries to exclude the country's RMG from New Partnership Act (NPDA) 2007. Ghana and Mali have recently requested Jim McDermott, chairman of the Ways and Means Sub-committee of the US House of Representative, for excluding five categories of Bangladeshi textile and apparel products from facilities under NPDA. McDermott, in his response, proposed exclusion of three categories of Bangladeshi textile and apparel products from opportunity provided under the NPDA. Bangladesh Ambassador in Washington Humayun Kabir revealed the details during his visit back to Dhaka last month. The diplomat held meetings with industry leaders and senior government officials, according to a high official of the commerce ministry. On several occasions, Bangladesh has tried to make it clear to the African countries that the country's duty free excess to the US market under NPDA will not hamper schemes such as African Growth and Opportunity Act. The chief adviser will meet a number of African Leaders at the UN General Assembly, scheduled to start on September 15 in Washington DC, in yet another effort to make them understand that Bangladesh is not their real threat. The government will convey to African leaders that Bangladesh is not a threat to African LDCs in terms of apparel exports to US market. African LDCs will face real challenges in the textile and apparel sector from China, once the US withdraws its safeguard measures in January 2009. The government will send a high-level business delegation to several African LDCs to convince them that the bill would be beneficial to all the LDCs. Meanwhile, a taskforce has been formed with technical help of Centre for Policy Dialogue to assist the government on the issue. McDermott introduced the NPDA 2007 bill in the US Senate in October 2007 with the aim to reduce extreme poverty worldwide. The legislation will help the people who live on less than $1 per day and primarily live in the LDCs. The NPDA was designed to eliminate all tariffs on the products originating from LDCs and help implement capacity-building programmes to reduce constraints to economic growth.

Nokia shares plunge after market share forecast cut

Nokia, the world's leading mobile phone maker, on Friday cut its third quarter market share guidance, sending its share price tumbling.

Nokia shares plummeted 9.9 percent to 14.15 euros (20.18 dollars) following the announcement.

"Nokia now expects its mobile device market share in the third quarter 2008 to be lower than in the second quarter 2008," the company said in a statement.

Previously, the mobile phone maker had forecast its market share to remain more or less on the same level, quarter-on-quarter.

Nokia said it had faced aggressive pricing by its competitors, while it had had problems ramping up production of its new mid-range cellular phones.

"We expect the product launches and start of shipments to be on track during the remainder of the third quarter and the fourth quarter 2008," it said.

Reducing poverty through shaping strategies

Incidence of poverty is not new in human history, but its analysis, discourse or the efforts for reduction are. The emergence of urban poverty in Europe in the eighteenth century in the wake of industrialisation drew initial attention in a formal sense. Even till recently some people used to believe that the affluent West succeeded in striking out this evil even as it came to be revealed that at the fag end of the last century poverty still kept sticking out its ugly head, in no less a highly industrialised country than the United Kingdom. Countries like Bangladesh, India and Nepal from this part of the world are often the examples in the discourse on poverty. Naturally any research dealing with the philosophy or strategy of poverty alleviation can hardly overlook the perspectives of these countries. Two research monographs by Rehman Sobhan and MM Akash deserve careful reading for the simple reason that they critically look into some vital issues of pertinence. This is an outcome of a study commissioned by CPD and SACEPS. Together the two works have nine chapters. The first monograph mainly consists of remarks on conceptual issues relating to poverty reduction approaches pursued by a few major international organizations, namely, like WB, ADB, OECD, UNCTAD, and IFAD, who are not only important development partners or financing institutions but are also known to play a significant role in shaping the economic policies of several countries. The second monograph focuses on the Poverty Reduction Strategy Paper or PRSP of the selected South Asian countries mainly, as it will presumably provide guidance to the poverty reduction initiatives, particularly in framing the programmes of the countries concerned (Sri Lanka, Bangladesh, Nepal, and Pakistan). One can easily understand why these monographs should receive readers' attention, for they are related not only to their wide geographical coverage but also the very critiquing of poverty reduction strategies. While one would not expect indefinite reproductions of the observations and analyses the monographs have already made, selective reference will however be needed to set the tone of this brief review. More significant is that these monographs pursue an important analytical point regarding the main philosophy of poverty reduction. They avowedly assert that the first and foremost need is a structural change if the ultimate goal is poverty reduction. As a corollary they criticise 'micro' initiatives that do not take into account such imperatives. We quote to clarify this point, “…poverty originates in the structural features of society which can only be addressed at the macro level…' or '…micro programmes remain incapable of generating the synergy needed to eliminate poverty…' Certainly for any avid reader a curiosity to know more about the issue of structural imperatives in changing the face of poverty will be there. While the authors did not much labour to pen in a few paragraphs or pages on what underlies such structural imperatives, the discussion in different sections gradually offers up a perspective as to what they mean to transpire. Since the issue of structural change is the main argument for critiquing against these institutions it could help the reader more had there been a little more elaboration on the composition and strategies of structural change they are arguing for in a single section. One of the major aspects of the critique of these two monographs is the calling into question of some of the axioms and policies advocated in development parleys as they are inconsistent with the views of the aforementioned organisations. Let us give some examples from the authors. One of them says: 'Not withstanding this broader and stronger commitment to poverty reduction, the WDR 2000/01 remains essentially astructural in its conception of problem of poverty and thus fails to present any suggestion which could really enhance the capacity of the poor to emerge as a significant producers of goods and services in a market economy'. Now what is wrong with WB and ADB? The central critique lies in the point that they usually place market mechanism at the forefront to fight poverty, while for the poor it is impossible to act as a strong player in such a context as they hardly possess their own resources, reasonable education or competitive skill. On the other hand, accessing services in health and education competing with the affluent in society will also not be easy for the poor. However, all international organisations, as the first monograph shows, do not toe the WB or ADB line. The authors finally show how different approaches have emerged in course of time, some pushing forward neo-liberal ideas while others opt for structural change through redistributive justice.

EPB to go stronger

Plan underway to empower bureau to scrap exporter licence

The government has moved to empower the Export Promotion Bureau (EPB) to cancel licenses of exporters or suppliers or take legal action against rogue operators for their involvement in fraudulent activities, an official said yesterday.
The government took the initiative as a section of exporters with their alleged fraudulent activities in international trade hurt the image of the country abroad. Several Chinese businessmen had exported Chinese textile products to Germany by using Bangladesh GSP (generalized system of preferences) facilities with the help of some local exporters.
The result was, Bangladeshi exports to Germany were hit hard as the German Customs had imposed on German importers a 12 percent deposit on "suspicious shipments" from Bangladesh. But the German Customs had later lifted the restriction after Bangladesh adopted some measures to check forgery. Meanwhile, around two dozens of complaints -- mostly from the US and European countries -- have piled up against Bangladesh exporters and other suppliers, alleging that the suppliers breached agreements. A Belgian businessman has recently complained that his Bangladeshi counterpart had supplied low-quality jute, although he had paid for higher quality jute. In another instance, a French frozen foods importer accused his Bangladeshi counterpart of not sending stipulated quantity of shrimps. “We proposed to the government that an International Dispute Settlement Cell should be established to settle disputes in international trade, as the Regulatory Reforms Commission (RRC) sought suggestion from us to improve trade environment,” EPB Vice-chairman Md Shahab Ullah said. A high official at the commerce ministry said they had received the EPB proposal and sent it to the RRC. If the RRC clears the proposal and forwards it to the commerce ministry, the ministry will take a decision in this connection, he added. “The government should take prompt action against complaints to discipline Bangladesh's trade with other countries and to restore the positive image of Bangladesh abroad,” the official said.
A member of the Foreign Investors Chamber of Commerce and Industry said the chamber has been seeking such a cell for long and met with no response. Presently, the EPB has no power to take punitive action against the violators of international trade law. “The EPB is currently dealing with many complaints from foreign businessmen, who accuse local businessmen of breaching agreement and cheating,” the EPB vice chairman said. He said it is essential to empower EPB or any other organization so that they can take action against the violators.
The EPB vice chairman said the EPB could only investigate international trade disputes and blacklist the company involved in any particular dispute. "The implementation of the proposal will empower the Bureau to take punitive action as well," he said.
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Rahimafrooz plans 20 new Agora outlets

Rahimafrooz Superstores, one of the leading retailers of food products in the country, wants to set up 20 new outlets in three years to expand its business with an eye for more revenue. According to estimates of Rahimafrooz, total costs of the expansion may stand at about Tk 100 crore. “We are looking to set up 20 more outlets in next three years in cities including Dhaka, Chittagong and Sylhet,” Niaz Rahim, managing director of Rahimafrooz Superstores Ltd, told The Daily Star yesterday. “It's a volume-based business. The more we open outlets the more will be the sales as we will be able to serve more customers,” he said. The company operating under the brand Agora began operations in 2001 to exploit the country's potential market for food items, including perishable goods. Trading in food items is still dominated largely by small retailers in the kitchen markets, although about 70 small and big superstores entered in the market in the last couple of years. Three major retailers of food products -- Nandan, Meena Bazar and PQS -- are also operating in the market. Before the entry of the Superstores, retail trade in food products used to take place mainly in the kitchen markets in unhygienic condition and run by small retailers, Rahim said. “We had entered the business to offer consumers quality products in healthy environment,” he added. Rahimafrooz Superstores Ltd, one of the nine subsidiaries of Rahimafrooz Group, now serves 7.79 million customers through its four retail outlets in Dhaka. Rahim said the company registered an average annual growth of 25 percent in the number of customers as it offered quality products at fair prices and better services; this resulted in a continuous increase in sales. “We have been able to win the trust of the consumers by ensuring quality of the products,” he said. The company, according to its MD, posted increased sales results in the last couple of years. Its total sales grew by 20 percent to about Tk 1050 million in 2007-08 fiscal from about Tk 880 million a year ago. Rahim, however, said the company is yet to record profits. “It's a low margin and high turnover business. We need to increase the volume of sale to ensure gains,” he said. The company wants to integrate the supply chain for agri-produces with the aim to reduce middlemen in the supply chain, he said.

Multimillion dollar FDI plans on hold

Six large-scale foreign direct investment proposals have been on hold for the past several years because of government dithering, absence of a coal policy and shortage of gas -- the common setbacks which had earlier prompted Tata Group to pull investment out of Bangladesh. The investment proposals came from the companies including Abu Dhabi Group, UK-based Global Oil and Energy Ltd, Malaysian Azimat Corporation Ltd, Essar Group of India and Italian-Thai Development Company. The proposals sought to invest mostly in power and gas infrastructure, coal, steel industry and highways, a Board of Investment official said. “We are eager to get FDI in infrastructure; but the proposals, under consideration, have some complicated features that require thorough scrutiny before signing any final agreement,” said Kamal Uddin Ahmed, executive chairman of BoI. Some of the foreign companies, intending to invest primarily in infrastructure, withdrew their plans. Government officials said Global Oil and Energy signed a memorandum of understanding with the government in June 2006 to invest about $2.9 billion for developing coalmine, oil exploration and production, establishing power plant and producing petrochemicals; but the company shifted their plan. In September 2005, Abu Dhabi Group expressed its intention to invest $2 billion in various sectors such as telecommunications, oil and gas, healthcare, tourism and pharmaceuticals. The group's cellular phone company Warid Telecom started its operation in the country, but there have not been much progress in the group's other investment proposals. In mid-2005, Azimat Corporation, a Malaysian company, proposed to spend over $900 million to construct the first expressway of the country, connecting Dhaka with the country's premier port city of Chittagong. The BNP-led alliance government almost finalised the deal, but the caretaker government stalled the plan, preferring to go for international bidding for the project. This would hold back the possibility of any foreign investment in this vital area at least for another year.
In February 2002, led by a local firm, Contech Ltd, another consortium of six companies proposed to build a 52km long underground rail in Dhaka at a cost of $900 million. Italian-Thai Development (ITD), a Thai construction company, intended to negotiate with the government over its possible participation in the proposed Dhaka-Chittagong Express Way. But the government failed to initiate talks with the company. A local consortium of four steel makers S Alam, PHP, KDS and Abul Khair has signed a memorandum of understanding with India's Essar Group to set up the country's first hot-rolled steel plant. Essar has agreed to take about 60 percent of the project cost of $2 billion on its shoulder. Dr Mustafizur Rahman, executive director of the Centre for Policy Dialogue, said the flow of foreign direct investment in the country had declined as the government failed to ensure availability of gas. The government must provide available energy resources to local as well as foreign companies as required by growing economic growth, he said.

Indian strike halts Benapole trade

Local importers yesterday feared a short supply of perishable items such as onion, garlic and ginger before Ramadan as trade at Benapole Land Port came to a standstill because of a general strike on the Indian side of the port.

Millions of Indian airport, rail and bank workers went on strike to protest against soaring inflation and the government's "anti-worker" policies.

The strike stranded hundreds of inbound and outgoing trucks, loaded with perishable goods, on both sides of the port.

“A single day halt in trading is not likely to create a huge impact on supply. If the strike continues for a few more days, however, it will create serious problems,” said Sharier Suman, an executive of Hafiz Corporation, a leading Shaymbazar-based import house.

"It is the peak season in terms of importing perishable items into the country through Benapole as only few days are left to Ramadan,” Suman said.

Azizur Rahman, another importer based in Moulvibazar, said retailers tend to hoard goods to create an artificial crisis in times of trade suspension.

The nationwide action called by Indian communist-backed trade unions was also to protest against an average 21 percent wage hike for government officials that the strikers say ignores junior staff, the Press Trust of India reported.

It comes a month after communist parties, bitter critics of what they call the Congress-led government's "anti-labour" policies, withdrew their support after propping up the administration in parliament for four years.

Local clearing and forwarding agents in Bangladesh demanded that the government negotiate with the Indian government to introduce 24-hour nonstop clearance services at the busy land port.

Mobile phones the harbinger of change

YESTERDAY one of the mobile phone companies operating in Bangladesh announced that it had hit the 10 million customer mark, and the total number of mobile phone users is now in the region of 50 million, or approximately one phone for every three Bangladeshis. We congratulate all the mobile companies especially the leading ones, who have contributed tremendously in bringing about a fundamental transformation.

The rapid and continuing expansion of this sector has had a tectonic effect on Bangladesh. With the prices of mobile phones and sim cards getting ever cheaper, the mobile phone has found a firm foothold within the middle classes and is already making inroads among the working poor. No longer is it a luxury or a toy of the urban elites. The best thing about the proliferation of mobile phones is that they allow everyone who owns one to access information and communicate freely.

From the taxi driver to the carpenter to the small businessman, owning a mobile phone can massively increase people's ability to earn a good living and transform themselves into more productive citizens, to say nothing of the fact that mobile phones can connect people from even the most far-flung corners of the country and help people to stay in touch with friends and families wherever they might be in the country.

Now, with more and more ingenious applications available every day, we find that the opportunity afforded by mobile phones to the common people is even greater. Now a farmer or a fisherman can check via his mobile phone the price in distant markets and can thus receive a fairer price for his produce. People searching for jobs or second-hand computers need look no further than the mobile phone in their hand to see what the market has to offer.

In the future, mobile phones will be the vehicle for expanding banking and healthcare services to the poor and rural citizens who are currently underserved. The humble mobile phone has morphed into a composite radio, music-player, and internet access -- who knows what benefit it will bestow next?

One dark cloud on the business is that a number of the prominent mobile phone companies have been found guilty of operating illegal VoIP. We are saddened that they would thus tarnish their reputation, and trust that in the future that all activities of the companies will be above board and beneficial to the people.

The mobile phone industry has really transformed Bangladesh and put opportunity into the hands of many who previously didn't have it. It is a prime example of how new technologies and private enterprise can transform a country for the better.

Private call handlers set for a start

Three private companies assigned to handle international calls are ready to go into operation by this week, indicating a breakthrough for callers who will not further depend on government's monopoly services. The three new players, which will handle international incoming and outgoing calls, are Bangla Trac Communications, Mir Telecom and Novotel. Bangladesh Telecommunications Company Limited, the formerly BTTB, has so far been the sole company in the field, handling overseas calls of 20 million minutes a day.
The entry of the new companies will widen the $2 billion market three times, industry insiders predicted. During the last one year, the international call termination through the legal channel increased from nine million minutes a day to 20 million, after the telecom regulator launched a massive drive against illegal calls. The ratio of calls in and out of Bangladesh is 5:1. The new operators along with BTCL will terminate international calls through the country's sole undersea cable. As per the international gateway (IGW) policy, the operators will share 51.75 percent revenue with the government. "We are ready to introduce our services," said Mir Nasir Hossain, business partner of Mir Telecom, one of the IGW licensees. Hopeful of having good days in business saying, Hossain said: "International call termination business mostly depends on telecom density, which has seen 30 percent growth on average in the last few years." According to Bangladesh Telecommunication Regulatory Commission (BTRC), the country's tele-penetration rate is 29 percent thanks to robust growth of mobile telephony.
Along with IGWs, the BTRC in February also awarded licences to two other local companies -- M&H Telecom and Getco Telecommunications Ltd for interconnection exchange (ICX) services. From the technical side, overseas incoming calls to be received by the IGW operators will reach users by mobile or landline phone. According to the IGW policy, 80 percent of calls to Bangladesh will be terminated at each of the four IGW operators, which will compete for the remaining 20 percent.
Although private IGW operators will have to share majority revenue with the government, the business will boom in future as the number of outbound workers increased in the last two years, said Tarique Haque, chief executive officer of Bangla Trac Communications. The main customers of international calls are Bangladeshi expatriates. According to a government estimate, about 60 lakh Bangladeshi workers work in different countries. The growth of manpower export witnessed 100 percent growth in 2007-08. The government data shows the number of outbound workers was only four lakh in 2007, which increased to eight lakh in 2008. The government expects the number of migrant workers to nine lakh in 2009. Along with the illegal channel, Haque said, every day 50 million minutes calls have gone in and out of Bangladesh. "Definitely it will increase, when customers get better services." The new IGW operators started their marketing to get international carriers. Rezaul Kabir, chief commercial officer of Novotel, said they have already six international carriers. According to the related policy, he said, the market will open in future. "So marketing for having a bilateral deal with international phone operators will be a crucial factor. "The BTCL's revenue will drop significantly as it will have to compete with private operators. "As per our estimate, in entrance year of private IGW operators, BTCL's revenue from this segment will come down by at least 30 percent," said Iqbal Mahmud, BTCL chairman. "This is the service, which mostly depends on quality and BTCL failed to show its capacity. However, he said although BTCL's revenue will erode, the government will earn a lot from private operators. According to BTCL's annual report, last year BTCL's earnings from international call termination reached Tk 1,200 crore.

Tobacco claims 5.4m a year worldwide: WHO report

About 5.4 million people die every year across the globe due to tobacco consumption and the number will go over 8 million by 2030 if immediate steps are not taken, the World Health Organisation (WHO) report on the Global Tobacco Epidemic 2008 said yesterday.
At the launching ceremony of the report at a city hotel, it was also revealed that more than 80 percent of the tobacco victims would die in the developing countries alone by 2030 if tobacco control programme is not augmented by this time. The experts said that tobacco control is a multi-sectoral issue and it needs inter-ministerial approach to control tobacco consumption in the country. Though the prevalence of tobacco use among the adults in the country is 36.8 percent, the government's expenditure on tobacco control is only $50,000, they said. The report outlined the MPOWER package, a set of six key tobacco control measures that include monitoring tobacco use and prevention policies, protecting people from tobacco smoke, offering help to quit tobacco use, warning about the dangers of tobacco, enforcing bans on tobacco advertising, promotion and sponsorship and raising taxes on tobacco. This year National Tobacco Control Cell (NTCC) under the Ministry of Health and Family Welfare has won the Global Award on the World No Tobacco Day. WHO representative to Bangladesh Dr Duangvadee Sungkhobol handed over the crest to Uzzal Bikash Dutt, joint secretary of the Ministry of Health and Family Welfare, on the occasion. Director General of the Directorate General of Health Services Dr Abul Faiz, Deputy Secretary to the Ministry of Health and Family Welfare Nurjahan Begum, Ataul Haque Mollah of Ministry of Agriculture, Shafiqul Alam Mehedi, chairman, Bangladesh Tourism Corporation, Mostafa Zaman, national professional officer of WHO, and National Professor Dr Nurul Islam were also present on the occasion. The speakers highlighted government's different programmes, including ratification of the WHO Framework Convention on Tobacco Control in 2004, enactment of the tobacco control law in 2005 incorporating some of the provisions of the WHO Framework Convention on Tobacco Control (FCTC) and in 2006 framed rules to accompany the law.
The National Strategic Plan of Action for Tobacco Control has been developed and a task force was formed by the government at national, district and upazila levels with the representation of people from administration, police, health services, civil societies and NGOs to monitor the compliance with tobacco control law all over the country. The government has also increased 60 percent tax on tobacco consumption, they said adding that Bangladesh has done much in controlling tobacco consumption but still there are many things to do as nearly two thirds of the world's smokers live in ten countries and Bangladesh is one of these countries.

Economists warn of potential post-Olympic China downturn

Morgan Stanley's prominent economist Stephen Roach once said that when today's Chinese economy sneezes, Asia and possibly even the rest of the world could catch a cold. Many market watchers sharing his view sense signs of jitters in the Chinese financial markets, and they advise Korean investors to get prepared for fallout from China's post-Olympics economic hangover. The Shanghai Composite Index, China's key stock index, is expected to undergo wide fluctuations after tumbling to a 19-month low Monday (Aug 11), as mounting inflationary pressure was feared to inhibit the country's growth in the near future. Park So-yeon, a market analyst at Korea Investment Securities Co, said anxiety about a post-Olympics economic downturn may be overblown. "It would be naive to put too much weight on a sports event to assess the outlook of a 3 trillion won-economy," she said. Inflation in China will prove more critical in deciding the future direction of the Chinese economy as well as the global economy, he said. "We have seen the role of China changing to an inflation exporter from a global deflation exporter," Park said. Still, the latest consumer prices and other macroeconomic data suggest that China may not be able to play a role as a buffer against the US-led global economic downturn as many expected, analysts said. China has a profound effect on the direction of business cycles of Korea and other Asian emerging markets. "The belief that China could partly help reduce the magnitude of the global economic slowdown does not seem to be valid any longer," she said. "Until now, economic distress in China stemmed from external fronts. The fear is that many people now seem to believe that the economic problems lie in the Chinese economy itself," said Stephen Lee, an analyst at Samsung Securities Co. China's Consumer Price Index in July rose 6.3 per cent from a year earlier, according to the latest data. The pace of the price increases appears to be modest, but the price level itself is too high for the Chinese government to loosen its grip on price control and embrace an economic stimulus policy, he added. The confidence in the fundamentals of the Chinese economy seems to have been destroyed, weighing on investment mood in Asian equity markets and adding concerns about economic downside risk, he said. Economists note the "China factor" has become more influential on Korea's economy and its financial markets. China makes up 22 per cent of Korea's total exports, almost double overseas shipments to the United States. Slowing demand in China would immediately affect corporate investment and employment levels in Korea. China-related investment funds in Korea reached 22.78 trillion won ($22 billion) as of Aug 8, a large increase from 9.7 trillion won ($9.4 billion) a year ago, according to the Asset Management Association of Korea. A monthly average of 1.8 trillion won ($1.8 billion) capital inflow into the funds reflects the frenzy of China investments among Korea's retail investors. In October alone, 5.5 trillion won ($5.3 billion) was poured into a variety of China funds. "A sudden outflow of hot money from Chinese capital markets would be detrimental to the Chinese economy and have far-reaching repercussions for Korean markets closely linked to China," said Moon Jung-hiu, economist at Daishin Securities Co. His rough estimation of hot money in China is $128.6 billion, nearly a half of the foreign reserves held by the country in the first half of this year.

ATM body frames to be manufactured locally

A local manufacturer is set to produce automated teller machine's (ATM) body frame, which would help develop the electronic banking sector even further. Initially, 10 ATM body frames will be delivered by this week and 500 more frames by 2010, to International Acumen Ltd, a private company involved in providing ATM machines to many banks of the country. In recent years, electronic channels of banking, especially ATM, have become popular among the urban population. Account holders prefer to avoid the hassles of long queues on the bank premises during transactions. Moreover, private commercial banks are constantly competing with each other by setting up new ATM booths to provide prompt services to the clients. Industry experts estimate that the cost of importing ATM machines will now reduce as ATM machine's bodies are being manufactured locally. Earlier, the ATM machine's devices, including the Central Processing Unit (CPU), magnetic chip, display monitor and secure crypto processor, were imported mostly from China and a few from Malaysia. Shareq Fahim Haque, director of International Acumen Ltd, said the cost of importing ATM would drop by 50 percent when local bodies will be used. He said now they will be able to sell an ATM machine for Tk 5 lakh, which was Tk 11 lakh previously, as they do not have to pay import duties anymore. “These machines meet international standards and safety and longevity are tested by international experts,” he said. “We will supply these ATM bodies to the major banks in the country and we hope to produce 500 more bodies by 2010,” he added. However, the costs that they incur to manufacture such ATM bodies is substantially lower than the imported ones. Saker Ali, assistant director of Sakiba Engineering Works, a local light engineering products manufacturer at Dholaikhal that manufactured these bodies, said the cost of manufacturing each ATM body is Tk 1.5 lakh. “We have already manufactured 10 bodies, which we are going to deliver to International Acumen Ltd and we are also scheduled to produce more,” he said. He said that initially they built a body as a sample order, which was approved by the company and then they have awarded the contract to manufacture such bodies in June this year. According to Bangladesh Bank data, there are about 600 ATMs in the country, the number was less than 300 just a year ago. Currently, Dutch-Bangla Bank Limited has the largest network with 260 ATMs. The other major ATM market players are BRAC Bank, Q-Cash and Standard Chartered Bank.

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Fishery products

European consumers have increasingly turned to shrimps and prawns. Certain new fish species have also become very successful, for example Pangasius (Vietnamese catfish) and Nile perch. Volumes are increasing rapidly. Filleted fish is gaining share at the expense of whole fish throughout the Union. Consumers demand more convenience in their purchases of seafood. Also value-added products such as smoked fish, ready-made fish products and fish-based ready meals are becoming more popular. A remarkable trend is the development of new seafood products for special occasions or for special enjoyment.

Phone Ipod Internet and many

Introducing i Phone 3G. With fast 3G wireless technology, GPS mapping, support for enterprise features like Microsoft Exchange, and the new App Store, i Phone 3G puts even more features at your fingertips. And like the original i Phone, it combines three products in one — a revolutionary phone, a wide screen i Pod, and a breakthrough Internet device with rich HTML email and a desktop-class web browser. i Phone 3G. It redefines what a mobile phone can do — again.

The fishery products market in the EU

The CBI market survey on the EU market for fishery products shows that EU seafood consumption is increasing from the 1980s onwards. The EU is consuming ever more fishery products that have been imported from developing countries. Recently introduced tropical fish species such as catfish, tilapia and Nile perch are becoming increasingly popular. These species are appreciated for their taste and for their price. Also sales of value added products, often convenience products, are growing strongly.
This CBI survey provides information on consumption, production & trade (market sizes and trends), trade channels for market entry, prices, market access requirements and business practices & sales promotion. More detailed information – including websites of buyers and trade fairs – can be found in the related surveys on individual Member States.

Malayasia may cut fuel prices

Malayasia may reduce fuel prices in the weeks ahead if global oil prices continue to fall, a senior finance minister official thursday.
The government hiked petrol prices 41percent in june to ease the burden of spiralling energy subsidies, but crude oil prices have fallen around20 dollars from record high above 147 dollars per barrel hit earlier in July.
The official said "if oil prices remain between 120 dollars a barrel and 125 dollars a barrel for two weeks," then prime Minister Abdullah Ahmed Badawi could announce a cut in fuel costs in the weeks ahead.
"The cabinet discussed about the fall in oil prices wednesday. There is possiblity of pump prices coming down in Malayasia," the official told AFP on condition of anonymity.
Abdullah's decision to hike fuel prices sparked angry streets protests and triggered calls for the premier to stand down, compounding his woes after disastrous results in March elections.

Background to the problem of E-commerce

Electronic commerce or e-commerce covers many forms of trade of goods and services, all of which rely on the internet to market, identify, select, pay for and deliver these goods and services. Although it originated in developed countries, e-commerce has changed the perspectives of entrepreneurs the world over, including the remote areas of developing countries. E-commerce and e-banking or online banking is in its nascent state in Bangladesh. We should develop e-commerce culture to create such buyers who would expect quick service and supply. Bangladesh can specialize in e-service, any service that can be provided through internet. More and more services will emerge which will be just appropriate for providing through internet.

Absenteeism in Industry

Absenteeism refers to unauthorised absence of the worker from his job.
In India the problem of absenteeism is greater than other countries. When the employee takes time off, on a scheduled working day with permission, it is authorised absence. When he remains absent without permission or informing, it isa wilful absence without leave.
In these days when the needs of the country require greater emphasis upon increase of productivity and the economic and rational utilisation of time and materials at our disposal, it is necessary to minimise absenteeism is higher among woman workers and among workers who live away from the place of work.