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BNP Chairperson Khaleda Zia at court to attend the charge-framing hearing on the Zia trust graft case yesterday MAHMUD HOSSAIN OPU
Defences derogatory remarks and chaos forced judge to leave courtroom twice
over Tk2.1 crore by forming the fake trust in 1991. In the other case involving Zia Charitable Trust, the ACC accused four people including the BNP chief of raising funds by abusing power of the PMO during 2001-06. Newly-appointed Judge Basudev Roy of the Dhakas Special Judges Court 3 passed the indictment order rejecting the defences time petitions. It
P3 SEARCH IN BANGLADESH
Deleting files would not necessarily represent anything unusual, especially if it were to free up memory space, but investigators would want to check
For Bangladesh the ask is simple win and go to the second round with confidence, while for Hong Kong it will be a match to claim appreciation from their performance. The sides have met just once earlier that also in a one-day international in the Asia Cup in Sri Lanka back in 2004 which was won by Bangladesh by 116 runs. Bangladesh has since then grown in to a strong unit compared to Honk Kong and the differences of experience and temperament should be enough to secure an easy win for the hosts. However, the Tigers should also not be too relaxed as they have a reputation of going down to weaker teams. The turnaround after going through a miserable first quarter in 2014 has been very impressive for Bangladesh, though their last four T20 wins came
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n Emran Hossain Shaikh
Lawmakers from both the treasury bench and the opposition yesterday condemned a recent statement by Transparency International Bangladesh that criticised Jatiya Partys role in the House and commented on the possible duration of the ongoing parliament. Taking the floor of the parliament in an unscheduled discussion, treasury bench lawmaker Sheikh Fazlul Karim Selim questioned the Berlin-based watchdogs authority in making such a statement. On Tuesday, TIB said Jatiya Party was unable to play the role of the opposition in the parliament, adding that
DHAKA TRIBUNE
News
Communications Minister Obaidul Quader inaugurates a formalin-free kitchen market at New Market in the capital yesterday
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Sadarghat-Gulistan and Sadarghat-Jatrabari roads. They chanted slogans against the government criticising the court decisions. Protesting the indictment order, Jatiyatabadi Chhatra Dal, students wing of the BNP, announced countrywide protest rallies for today, according to a press release. The court that began around 1:15pm plunged into a pandemonium as lawyers from both the defence and the prosecution started shouting at each other and chanting slogans over the comments. Criticising the rejection of time petitions, the defence counsels started making derogatory comments about the court prompting the judge to leave the courtroom around 1:40pm. Later around 2pm, the defence counsels went to the judges chamber and submitted four separate petitions two for each case seeking permission of going to the High Court for reviewing the rejection orders and noconfidence on the court that framed the charges. The judge again went to the courtroom at 3:15pm to hear the petitions
but he left the room for the second time when the defence said they had no confidence on him. Later the judge passed the indictment order through the courts bench officer (Peshkar) Ariful Islam. On behalf of the judge, around 3:30pm he mentioned that the court framed charges against the accused and set April 21 to begin the trials. The court also recorded the four petitions and mentioned that those were under the jurisdiction of the High Court.
The accused
Other accused in the orphanage trust case are BNP founder Gen Ziaur Rahmans nephew Mominur Rahman, Khaledas former principal secretary Dr Kamal Uddin Siddique and former BNP lawmakers Kazi Salimul Haque and Sharfuddin Ahmed. The three accused in the charitable trust case are Khaledas former political secretary Harris Chowdhury, his assistant personal secretary Ziaul Islam Munna and mayor of undivided Dhaka City Corporation Sadeque Hossain Khoka former personal secretary Manirul Islam Khan.
Of the seven accused, Harris, Mominur, Kamaluddin and Sharfuddin are on the run. The court said Sharfuddin who is now staying in the UK would be shown fugitive in the case. Tarique has been staying in the UK since 2008. The three others, who are now on bail, appeared before the court yesterday. According to the court order, charges were framed against the accused under sections 409/109 of the panel code and section 5 (2) of Anti-Corruption Act, 1947 in Zia Orphanage Trust case while it framed charges under section 109 of the panel code and section 5 (2) of Anti-Corruption Act, 1947 against the accused in Zia Charitable trust graft case.
cases on January 15 last year and again on February 16 until yesterday. Khaleda and Tarique are also accused in Gatco, Niko and Barapukuria graft cases, proceedings of which have been stayed by the High Court upon petitions.
Deferrals end
After appearing at the court, Khaleda submitted two adjournment petitions before the court through her counsels. But the judge rejected the pleas after hearing both defence and prosecution for 25 minutes. Earlier Khaleda remained absent at the court on several dates showing different reasons related to security, illness and the parliament being in session. She secured permanent bail in the
The ACC filed the graft case on July 3, 2008 with Ramna police station accusing Khaleda, her son Tarique and four others for embezzling over Tk2.1 crore by forming the fake trust in 1991. The money came as grants from a foreign bank for the orphans. On August 5, 2010, ACC Deputy Director Harunur Rashid submitted the charge sheet and named 37 witnesses in the case. According to the case statement, the accused embezzled the money by establishing Zia Orphanage Trust that exists only on paper.
ACC official Harunur, also investigation officer of the case, pressed the charges on January 16, 2012. He showed 37 people as prosecution witnesses in the case. According to the charge sheet, money for setting up the trust was collected from different sources, using the influence of the Prime Ministers Office during the 2001-06 tenure of the BNP-led government.
Indictment illegal
On August 8, 2011, the ACC filed the case with Tejgaon police station accusing four of abusing power in raising funds for the trust from unknown sources.
Mahbub Uddin Khokon MP, who stood for the accused, said the court framed the charges illegally. He said they submitted the time petitions as the Appellate Division was yet to give any decision against the High Court order that rejected an appeal of the accused which says the two cases cannot run together. ACC counsel Mosharraf Hossain Kajal refuted the allegation of the defence. The defence lawyers deferred the charge framing hearing several times by filing time petitions. But finally the court framed the charges against Khaleda and other accused as per the law, he said. l
The working assumption is that it went south, and furthermore that it went to the southern end of that corridor, said the source, who spoke on condition of anonymity. The view is based on the lack of any evidence from countries along the northern corridor that the plane entered their airspace, and the failure to find any trace of wreckage in searches in the upper part of the southern corridor. Some sources involved in the investigation have voiced fears it could be drifting towards deadlock due to the reluctance of countries in the region to share militarily sensitive radar data or allow full access to their territory. These are basically spy planes, thats what they were designed for, said one source close to the investigation, explaining the hesitance of some nations to allow maritime surveillance aircraft into their waters. Last week, a source familiar with
official US assessments said it was thought most likely the plane flew south, where it presumably would have run out of fuel and crashed into the sea. If it did indeed end up in the southern Indian Ocean, one of the remotest places on Earth and also one of the deepest seas, it increases the chance it may never be found and investigators may never know for sure what happened on board. Hishammuddin said the difficulty of searching such a huge expanse of ocean made the operation in the southern corridor much more challenging. Officials believe that someone with detailed knowledge of both the Boeing 777 and commercial aviation navigation switched off two vital datalinks: the ACARS system, which relays maintenance data back to the ground, and the transponder, which enables the plane to be seen by civilian radar. Malaysia Airlines Flight 370 with 239 people aboard disappeared March 8 on
a night flight from Kuala Lumpur to Beijing. Malaysian authorities have not ruled out any possible explanations, but have said the evidence so far suggests the flight was deliberately turned back across Malaysia to the Strait of Malacca, with its communications systems disabled. They are unsure what happened next and why. Investigators have identified two giant arcs of territory spanning the possible positions of the plane about sevenand-a-half hours after takeoff, based on its last faint signal to a satellite an hourly handshake signal that continues even when communications are switched off. The arcs stretch up as far as Kazakhstan in central Asia and down deep into the southern Indian Ocean. Police are considering the possibility of hijacking, sabotage, terrorism or issues related to the mental health of the pilots or anyone else on board, and have asked for background checks from abroad on all foreign passengers.
Hishammuddin said such checks have been received for all the foreigners except those from Ukraine and Russia - which account for three passengers. So far, no information of significance on any passengers has been found, Hishammuddin said. The 53-year-old pilot joined Malaysia Airlines in 1981 and had more than 18,000 hours of flight experience. People who knew Zaharie from his involvement in opposition political circles in Malaysia and other areas of his life have described him as sociable, humble, caring and dedicated to his job. The crisis has exposed the lack of a failsafe way of tracking modern passenger planes on which data transmission systems and transponders which make them visible to civilian radar have been severed. At enormous cost, 26 countries are helping Malaysia look for the plane. Aircraft from Australia, the US and New Zealand on Wednesday scoured a search area stretching across 305,000
square km of the Indian Ocean, about 2,600 km southwest of Perth, on Australias west coast. Merchant ships were also asked to look for any trace of the plane. Nothing has been found, the Australian Maritime Safety Authority said. China has said it was reviewing radar data and deployed 21 satellites to search the northern corridor, although it is considered less likely that the plane could have taken that route without being detected by military radar systems of the countries in that region. Those searches so far have turned up no trace of the plane, Chinese Foreign Ministry spokesman Hong Lei said. Indonesian defence minister PurnomoYusgiantoro said Indonesia military radar didnt pick up any signs of Flight 370 on the day the plane went missing. He said Malaysia had asked Indonesia to intensify the search in its assigned zone in the Indian Ocean west of Sumatra, but said his air force was strained in the task. l
against Associate nations Ireland, UAE, Nepal and Afghanistan. Todays match will be the fifth consecutive T20 Bangladesh plays against a non Test playing nation and nothing but a win should satisfy them. Dew will be a major factor in the night game and both teams know that very well. So winning the toss the captain should not hesitate to have a bowl in the track that also keeps low apart from assisting the fast bowlers. Bangladesh players wore a very confident and joyful look in their practice yesterday where they enjoyed a small football session between the seniors and juniors after a brief team meeting. Though it is unlikely that Mushfiqur Rahim will break the winning combination, but Rubel Hossain might come in to replace Mashrafe bin Mortaza who is carrying a minor niggle on his elbow. Mashrafe put in a diving effort to save a boundary in the first match against Afghanistan where his elbow hit the ground, though coach Shane Jurgensen said it was nothing to worry about. To win matches, especially in this format, it is important for the top order to perform and so far they have clicked in style as Bangladesh have won the first two matches by 9 and 8 wickets respectively. Tamim Iqbal and the hyper active Anamul Haque should concentrate on building from Bangladeshs highest T20 opening partnership of 63 in the last match, which will also allow Sabbir Rahman and Shakib al Hasan to come in with a license to kill. Mark Chapman, Jamie Atkinson and Waqas Barkat have so far impressed with the bat for Hong Kong, but it will be a big test for the top three against a quality home side bowling attack. Meanwhile, if they bowl first it will be interesting to see how their fast bowlers go against the pounding mode of the Bangladesh batting unit. Apart from the heavy dew at night, the weather has been very hot and humid in the past few days in Chittagong and though it drizzled for around 30 minutes yesterday evening, it is unlikely to have any effect on the game today. l
DHAKA TRIBUNE
News
CID officials arrest Nazmul Maksud Murad after Interpol handed him over yesterday. Interpol arrested him in the US. Nazmul is accused of attempting to murder Awami League chief Sheikh Hasina around 12 years back DHAKA TRIBUNE
A Navy officer at the Navy Headquarters presents the report on their search for the missing Malaysian plane in the Bay of Bengal yesterday SYED ZAKIR HOSSAIN
DHAKA TRIBUNE
News
Education Minister Nurul Islam Nahid attends the inaugural ceremony of an online book reading programme titled Alor Pathshala at the Bishwa Sahitya Kendra yesterday
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NZ PMs special envoy to visit for UNSC vote n Sheikh Shahariar Zaman
Jim Bolger, special envoy to New Zealand Prime Minister John Key, will undertake a visit to Bangladesh on March 22 to seek vote for the membership (non-permanent) of UN Security Council, which is due to be held in October. He [Jim Bolger] will pray support from Bangladesh as New Zealand is vying for the post for the 2015-16 period, Honorary Consul of New Zealand to Bangladesh Neaz Ahmed said. Bolger is expected to meet Prime Minister Sheikh Hasina, Foreign Minister AH Mahmood Ali and Foreign Secretary Md Shahidul Haque to discuss bilateral trades between the countries, the consul added.l
WEATHER
Hundreds of vehicles get stuck at Doulatdiya Ferry Ghat as ferry service remained suspended because of dense fog in the area yesterday DHAKA TRIBUNE
7 secretaries promoted
n Mohosinul Karim
Seven secretaries of the government have been promoted as senior secretaries, a gazette notification by the public administration ministry said yesterday. The newly-promoted bureaucrats are Commerce Secretary Mahbub Ahmed, Land Secretary Shafiul Alam, Planning Commission member Hedayet Ullah Al Mamun, Power Secretary Mozammel Haque Khan, Secretary to the Prime Ministers Office Abul Kalam Azad, Local Government Secretary Monjur Hossain and Public Administration Secretary Kamal Abdul Naser Chowdhury. They will continue to work in their respective offices. With the latest promotions, the number of senior secretaries in the civil administration now stands at 12. Commerce Secretary Mahbub Ahmed, an economic cadre BCS officer, was previously secretary to the youth and sports ministry, while Land Secretary Shafiul Alam was chairman of the Land Reform Commission and secretary to the Presidents Office. Planning Commission member Hedayet Ullah Al Mamun served as information secretary, Power Secretary Mozammel Haque Khan was secretary to the Roads Division and IMED, PMO Secretary Abul Kalam Azad was Power Division and ERD secretary, Local Government Secretary Monzur Hossain was secretary to home and agriculture ministries and the Presidents Office, while Public Administration Secretary Kamal Abdul Naser Chowdhury was secretary to the information and education ministries. They are all admin cadre officers of BCS 1982 batch. l
PRAYER TIMES
Fajar Sunrise Zohr Asr Magrib Esha 4:47am 6:02am 12:06pm 4:28pm 6:09pm 7:25pm
Source: IslamicFinder.org
DHAKA TRIBUNE
News
From Left, several hundred students attend the inaugural ceremony of the Annual Science Fair 2014 at St Joseph Higher Secondary School in the capital yesterday, Two students display their projects in Human Resource Development and Economic Prosperity. The three-day long fair is scheduled to end tomorrow. Students, especially from Class III and IV, were seen enthusiastically participating and presenting their projects. A good number of projects were seen on city management, hanging bridges and waste management. Class three student Nafees Abrar Islam presented a waste power plant in which waste will be used to produce power. Talking to the Dhaka Tribune, he said a project in Discovery Channel inspired him to come up with this in the fair. Artijwa Prothian Abdel presented a solar copter, where solar power would be used to run a helicopter. He said he wanted to be a scientist. Another class III student Safwan Uddin presented a model for a windmill. Addressing the inaugural programme, Director of Bangladesh Academy of Sciences MA Mazed urged the students to acquire knowledge in the field of science and use them for the betterment of the country. He said he believed the young scientists would help the country to reach its ultimate goals. University of Liberal Arts Bangladesh Pro Vice-Chancellor HM Jahirul Haque
said: Though we live in a technology driven society, the number of students who pursue science and engineering for higher studies is substantially decreasing. He also said platforms were needed which would help nourish and stimulate scientific minds. l
BTCL big fish dropped from charge PM: Large power plants to make quick rentals obsolete sheet in VoIP graft case
n
Tribune Report
The Anti-Corruption Commission will soon file two charge sheets against eight people, including the officials of Bangladesh Telecommunications Company Limited, on charge of embezzling Tk585 crore through illegal Voice Over Internet Protocol calls. The charges, however, did not have any names of high-ups against whom the cases were filed earlier. With the charges which were approved yesterday the anti-graft body dropped the names of current and former three managing directors of Bangladesh Telecommunications Company Limited (BTCL) saying that the investigation did not find their involvement. The ACC in August last year filed four cases against 23 BTCL officials, including BTCL acting managing director Kalim Ullah, his predecessor Azizul Islam, former MDs SM Khairuzzaman, Afsarul Alam and M Abu Sayed Khan. Of the four cases, charge sheets in the two were approved. Involvement of BTCL former assistant divisional engineer Abu Hena Mostafa Salam was found during the probe. Meanwhile, the ACC exempted BTCL acting managing director SOM Kalim Ullah, its former managing directors M Abu Sayeed Khan and Azizul Islam, former member (maintenance and operation) Mohammad Towfiq, former general manager Anwarul Mamun, former assistant divisional engineer M Moktar Ahmed from charges saying that their involvement were not found during the investigation. It has also exempted Ericsson Bangladesh Ltds Contract Manager Asif Jahid, Relations Manager Nazrul Islam and engineer Masrurul Hakim. The ACC officials said two of the accused BTCLs former divisional engineer Habibur Rahman Pramanik and former divisional engineer Ronel Chakma flew to Malaysia and Canada respectively. On August 25, 2013, the ACC filed four cases after a commission inquiry revealed that over around Tk600 crore had been swindled through illegal VoIP businesses and erasing information from call detail records in the preceding four years. The probe report said telecommunication officials in connection with Ericsson Bangladesh Ltd had erased incoming international call minutes from the call detail record of ITX-5 and ITX-7.l
Prime Minister Sheikh Hasina told the parliament yesterday that quick rental power plants would not be necessary in the country once large power plants started functioning. Why is there so much talk over rental power plants? If you want, I can stop those plants today. But if I do it, what situation will be created? the premier said while answering to a supplementary question by Awami League Lawmaker AFM Bahauddin Nasim. Sheikh Hasina, also the leader of the House, said: If the large power plants start functioning, quick rental power plants will not be required. The premier said there had been no alternative to setting up quick rental plants, as the BNP Jamaat-led government had ruined the power sector.
The country was overwhelmed with power crisis during the BNP Jamaat rule. People had to spend between Tk30 and Tk35 for every unit of electricity from generators. We have improved the power situation and reduced load shedding, Hasina said. She also slammed a section of her critics for scrutinising the government while sitting in air-conditioned rooms. Claiming that electricity facilities reached around 62%-64% citizens, Hasina said: We want to raise the percentage to 100. Responding to a different query, the premier said the law enforcement agencies would increase their vigilance for the next phases of the upazila parishad elections. Hasina also urged people to boycott the candidates linked with militancy and violencel
fisheries and livestock minister was chief guest. Sayedul Haque said regular surveys and extending socio-economic assistanceswould be provided to improve theconditions of the fishermen. He called on fishermen and other people to stop netting, selling and buying jatka and preserve this national resource. l
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18 Group A B C D E 19 20
Name & address of the ofce (s) a) Selling Tender Documents (Principle) Divisional Engineer-1/ Paksey. b) Selling Tender Documents (Others) Divisional Engineer-1/ Lalmanirhat Assistant Executive Engineer/Rajshahi Assistant Executive Engineer/IC/Saidpur c) Receiving Tender Documents Divisional Engineer-1/Paksey Ofce d) Opening Tender Documents Divisional Engineer-1/Paksey Ofce Place/date/time of Pre-Tender Not Applicable meeting Eligibility A, B & C Class contractors of Bangladesh Railway for Group B, C, D & E and B & C class contractors of Bangladesh Railway for Group A and Enlisted 1st class or special class Contractors under any Government, Semi-government & autonomous agency may submit tenders provided that they are otherwise qualied as specied in the Tender Document(s). Contractors of other departments shall have to show original enlistment document during purchase of the tender documents. Brief Description of WorksTime of Tender Description of works Location Price Completion Security Tender Amount Documents Thorough repairs to Shingia station Shingia Tk. 600/Tk. 27,000/90 days building, waiting hall & waiting room. Repairs to SSAE/Works/JSs ofce and Jessore Tk. 500/Tk. 19,000/90 days godown. Tk. 500/Tk. 18000/90 days At KLN:- Repairs to Qtr. No. RBC/2 (2 Khulna units), RBC/6 (4 units), E/238 (1 unit), Total = 7 units. Tk. 500/Tk. 14,000/90 days At. KLN:- Repairs to AOM/KLNs chamber Khulna including TTEs (Accounts Base) ofce with partition wall of booking ofce At RB:- Construction of Boundary wall at Rajbari Tk. 500/Tk. 19000/90 days south & east side of Bunglow No. E/30. Tender security shall have to be submitted in the form of bank draft/pay order (MICR instrument) form any schedule bank in favour of FA & CAO/West, Bangladesh Railway, Rajshahi. The Procuring entity reserves the right to reject all Tenders or part thereof. (A.F.M. Masudur Rahman) Divisional Engineer-1 Bangladesh Railway, Paksey
DHAKA TRIBUNE
Nation
Students of Bogra City Girls High School observe a sit-in in front of the school yesterday, protesting attack on headmaster by local goons
FOCUS BANGLA
DHAKA TRIBUNE
Juris
7
JURIS QUOTE
I am free, no matter what rules surround me. If I find them tolerable, I tolerate them; if I find them too obnoxious, I break them. I am free because I know that I alone am morally responsible for everything I do. Robert A Heinlein
American novelist (1907 1988)
LAW CARTOON
SYED ZAKIR HOSSAIN
n Abdullah Al Arif
e often hear depressing news regarding public examinations nowadays. A range of offences takes place-ranging from question leak-out to making of false certificates and mark-sheets. People wonder if there is a law to check such offences. Yes, we have Public Examinations (Offences) Act, 1980 to deal with felonies done in public examinations.
which may extend to 10 years and shall not be less than three years, and shall also be liable to fine.
Altering or tampering with any marks, mark sheet, tabulation sheet, certificate, diploma, or degree, in any manner and without any lawful authority, relating to any public examination is an offence. This offence is punishable with imprisonment for a term which may extend to four years, or with fine, or with both.
university or board, conducts any public examination in an examination hall or examines any answer script relating to a public examination, or whoever conducts any public examination in an examination hall or examines any answer script relating to a public examination in the name of any other person or in a fictitious name, that person is guilty of an offence. This offence is punishable with imprisonment for a term which may extend to two years, or with fine, or with both. The following acts, if done in any manner intentionally, are offences under the law: l Obstructing any person in the discharge of his duties in connection with a public examination l Obstructing the holding of a public examination l Creating disturbances in any examination hall These offences are punishable with imprisonment for a term which may extend to one year or with fine, or with both.
Public Examinations
According to the law, public examination means any examination that is conducted or organised by a university or a board. Some of the major public examinations we have are Primary School Certificate (PSC), Junior School Certificate (JSC), Secondary School Certificate (SSC), Higher Secondary Certificate (HSC). These examinations are conducted by several education boards under the ministry of education. Bangladesh Civil Service (BCS) examinations are also public examinations conducted by the Bangladesh Public Service Commission. Examinations conducted by colleges under National University and other public universities are also termed as public examinations.
According to Section 6 of the law, if any person makes, prints, distributes, or uses, or keeps in his possession any mark sheet, certificate, diploma or degree relating to any public examination which he knows to be false or not issued by the university or board having authority to issue the same, that person commits an offence. This offence is punishable with imprisonment for a term which may extend to seven years and shall not be less than three years, and shall also be liable to fine.
According to section 3 of the Act, if any person, not being an examinee, enters the examination hall during a public examination by declaring himself as an examinee, or appears at a public examination in the name of any other person or in a fictitious name, that person commits an offence called personation. This offence is punishable with imprisonment for a term which may extend to five years, and shall not be less than one year.
Keeping any blank form of mark sheet, certificate, diploma or degree relating to any public examination, which has not been issued or delivered under the authority of the university or board, is an offence. This offence is punishable with imprisonment for a term which may extend to two years, or with fine, or with both.
If any employee of a university or a board or being entrusted with any duty or responsibility in connection with any public examination, commits an offence under this Act, he/she shall be given imprisonment for a term which may extend to five years, or with fine, or with both.
RIO SHUVO
Helping examinees
If any person abets or attempts to commit any offence under this Act, he/she shall be punishable with the sentence provided for the offence.
NOTICE BOARD
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Disclosing, publishing, or distributing any paper containing any question set for such examination, or any paper containing any question falsely purporting to be set for such examination, or intending that the same by any means whatsoever before any public examination is held may be treated as identical with any question set for such examination is an offence under the law. The offence is punishable with imprisonment for a term
Section 9 of the law says, if any person helps any examinee by supplying any written answer or any book or written paper or any page thereof or extract therefrom, or by dictating any answer orally or by any mechanical means, or by any other means, in the examination hall that person commits an offence. The offence is punishable with imprisonment for a term which may extend to five years and shall not be less than two years, and shall also be liable to fine.
Section 14 of the Act lays down the procedures to deal with the offences mentioned in this Act. It says: l Any offence under this Act shall be cognisable l No court other than that of a metropolitan magistrate or a magistrate of the first class shall try an offence under this Act l A court trying an offence under this Act shall try the offence summarily in accordance with the procedure laid down in the Code of Criminal Procedure l A court may pass any sentence under this Act in excess of its power under the Code of Criminal Procedure l
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Juris Desk
he International Day for the Elimination of Racial Discrimination is observed annually on March 21. On that day, in 1960, police opened fire and killed 69 people at a peaceful demonstration in Sharpeville, South Africa, against the apartheid pass laws. Proclaiming the Day in 1966, the General Assembly called on the international community to intensify its efforts to eliminate all forms of racial discrimination. In 1979, the UN General Assembly adopted a programme of activities to be undertaken during the second half of the decade for action to combat racism and racial discrimination. On that occasion, the General Assembly decided that a week of solidarity with the people struggling against racism and racial discrimination, beginning on March 21 would be organised annually in all states. Since then, the apartheid system in South Africa has been dismantled. Racist laws and practices have been abolished in many countries, and an international framework for fighting racism have been built guided by the International Convention on the Elimination of Racial Discrimination. The Convention is now nearing universal ratification, yet still, in all regions, too many individuals, communities and societies suffer from the injustice and stigma that racism brings.
hindering progress for millions of people around the world. Racism and intolerance can take various forms-from denying individuals the basic principles of equality to fuelling ethnic hatred that may lead to genocide-all of which can destroy lives and fracture communities. The struggle against racism is a matter of priority for the international community.
Article 2 of the Universal declaration of Human Rights (UDHR), 1948 has stipulated that, Everyone is entitled to all the rights and freedoms set forth in this Declaration, without distinction of any kind, such as race, colour, sex, language, religion, political, or other opinion, national, or social origin, property, birth, or other status. Furthermore, no distinction shall be made on the basis of the political, jurisdictional or international status of the country or territory to which a person belongs, whether it be independent, trust, non-self-
governing or under any other limitation of sovereignty. The United Nations has been concerned with this issue since its foundation and the prohibition of racial discrimination is enshrined in all core international human rights instruments. It places obligations on States and tasks them with eradicating discrimination in the public and private spheres. The principle of equality also requires states to adopt special measures to eliminate conditions that cause or help to perpetuate racial discrimination.
Article 28 of the constitution of Bangladesh provides protection against racial discrimination. It says that the state shall not discriminate against any citizen on grounds only of religion, race, caste, sex, or place of birth. It also says that no citizen shall, on grounds only of religion, race, caste, sex, or place of birth be subjected to any disability, liability, restriction, or condition
Racial discrimination
According to the Convention on Elimination of all Forms of Racial Discrimination, the term racial discrimination means any distinction, exclusion, restriction or preference based on race, colour, descent, or national or ethnic origin which has the purpose or effect of nullifying or impairing the recognition, enjoyment, or exercise, on an equal footing, of human rights and fundamental freedoms in the political, economic, social, cultural or any other field of public life. Racial and ethnic discriminations occur on a daily basis,
BIGSTOCK
with regard to access to any place of public entertainment or resort, or admission to any educational institution. Although there is a constitutional prohibition of racial discrimination, but racial discrimination as such is not explicitly and adequately prohibited and penalised in criminal law. However, the Penal Code of Bangladesh in sections 295, 295 A, 296, 297 and 298 makes any discrimination based on religion punishable under the law. Bangladesh became a party to the International Convention on the Elimination of All Forms of Racial Discrimination by accession on June 11, 1979 and is pledge bound to give full effect to the provisions of the convention through domestic legislations. The committee on the elimination of racial discrimination, after reviewing the eleventh periodic report submitted by the government of Bangladesh in 2000 recommends that the state party consider giving full effect to the provisions of Article 4 of the convention in its domestic legal order, ensure penalisation of acts of racial discrimination, and ensure access to effective protection and remedies under Article 6 of the convention through competent national tribunals and state institutions besides the High Court Division of the Supreme Court, in respect of acts of racial discrimination. Moreover, Bangladesh has also acceded to all major international human rights instruments that prevent and prohibit discrimination, including the International Covenant on Economic, Social and Cultural Rights, the International Convention on the Suppression and Punishment of the Crime of Apartheid in 1995, the Slavery Convention of 1926 and Protocols thereto, the Genocide Convention of 1948, the Convention against Torture, the Convention on the Elimination of All Forms of Discrimination against Women, the Convention on the Rights of the Child, etc. So, this is high time for the Bangladesh government to enact a domestic legislation criminalising all forms of racial discriminationl
DHAKA TRIBUNE
World
Iran has already suspended its most sensitive, higher-grade enrichment under the November accord and won modest respite from sanctions
A Western diplomat cautioned that the purpose of the current round of negotiations was not to nail down a final agreement. The goal of these sessions is not to solve any topics at this point (but) to be talking through the gaps and working on how to narrow them, the diplomat, speaking on condition he was not further identified, told Reuters. Western nations want to ensure that the Arak reactor is modified sufficiently to ensure it poses no bomb proliferation threat. Iran insists that the desert complex be free to operate under any accord as it would be designed solely to produce radio-isotopes for medical treatments. The Arak reactor is part of Irans nuclear program and will not be closed down, (like) our research and development activities, Foreign Minister Javad Zarif told reporters.
Wary steps
The sides are conscious that it may be hard to reach gradual deals without having the overall picture in sight and are insisting that nothing is agreed until everything is agreed. Much of the progress so far has been achieved since last years election of Iranian President Hassan Rouhani, a relative moderate who launched a policy of constructive engagement to end Irans international isolation. Our ultimate goal is to maintain our peaceful nuclear programs in line with international rules, and at the same time remove all concerns of the international community, the semi-official Fars news agency quoted Rouhani as saying. Since Rouhanis rise, day-to-day relations between Iranian and six-power negotiators have greatly improved. Some senior officials now address each other by their first names and use English in talks, rather than going through onerous translation. But gaps between expectations on both sides, and their own internal divisions, could still scupper diplomacy. Iran has already suspended its most sensitive, higher-grade enrichment - a potential path towards bomb fuel - under the November accord and won modest respite from sanctions. l
Israeli soldiers sit on their Merkava tanks after being deployed on the border with Syria near the Druze village of Majdal Shams in the Israeli-annexed Golan Heights. Israel launched air raids against Syrian army positions and issued a stark warning to Damascus just hours after a bomb on the occupied Golan Heights wounded four of its soldiers AFP
n AFP, London
British Prime Minister David Cameron said yesterday that G7 nations meeting next week must discuss the permanent expulsion of Russia from the wider G8 if it takes further action to destabilise Ukraine. US President Barack Obama has called for a G7 summit minus current G8 chairman Russia on the sidelines of a nuclear security summit in The Hague on Monday and Tuesday to discuss the escalating showdown over Russias annexation of Crimea. I think its important we move together with our allies and partners, and I think we should be discussing whether or not to expel Russia permanently from the G8 if further steps are taken, Cameron told parliament. Thats the meeting well have on Monday and I think thats the right way to proceed. Cameron was responding to questions from opposition Labour leader Ed Miliband, in a rare mention of foreign policy during the weekly prime ministers questions session in Britains lower house of parliament. The premier said any move by Russia beyond Crimea into eastern Ukraine should also result in the toughest possible economic and diplomatic sanctions. l
A tourist posing for a photo next to the General Sherman Giant Sequoia (Sequoiadendron giganteum) at Sequoia National Park in California. With an estimated volume of 1,487 cubic metres (52,513 cu ft), General Sherman sequoia is the largest tree on earth. The trees height is 83.8 metres (275 ft), its diameter - 7.7 metres (25 ft) and its estimated age - 2,3002,700 years AFP
DHAKA TRIBUNE
World
Students stand next to a giant mural featuring missing Malaysia Airlines flight MH370 displayed on the grounds of their school in Manilas financial district of Makati on March 18, 2014, created as part of solidarity action by concerned artists for the passengers and crew of the missing plane. Threem people around the world have joined an effort led by a satellite operator to locate the missing Malaysia Airlines plane, in what may be the largest crowdsourcing project of its kind AFP
CONDEMNED TO POVERTY
Children look on at a brick factory on the outskirts of Yangon. Myanmar was once known as the rice bowl of Asia because of its agricultural riches, but economic mismanagement during nearly 50 years of military rule left it deeply impoverished AFP
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DHAKA TRIBUNE
Editorial
LETTER OF THE DAY
Letters to
the Editor
s the two brandled stakeholder safety initiatives, the Accord on Fire and Building Safety In Bangladesh and the Alliance for Bangladesh Worker Safety, progress with inspections of garment factories, it is inevitable that some factories will be found non-compliant and some workers risk losing their jobs. In principle, if more factories are improved and raise their productivity, the industry overall will grow and, in the long run, more workers will have or be able to get secure jobs. By its nature, this is a process which will require time, investment and co-operation between international buyers and other industry stakeholders. Many factories are housed in multi-storied buildings, which have historically been poorly designed for safety. It is important then to support moves in the meantime to alleviate hardships caused to factory owners and workers who are affected by safety improvements and renovations. The best way for the government to do this is to help the industry with building new factories. It should immediately start developing industrial parks on khas lands near Chittagong and Dhaka. Modern, purposebuilt factories should be urgently built on these parks in the shortest possible time, for leasing to garments manufacturers. Providing support for relocations to new, compliant buildings and backing loans to build new industrial parks needs to be the countrys top national priority. The RMG sector employs 4 million people and provides 80% of our exports. The government must not stand idle while factories are closed down or renovated.
Providing support for relocations to new, compliant buildings and backing new industrial parks needs to be a priority
Write to us at: Dhaka Tribune FR Tower, 8/C Panthapath Sukrabad, Dhaka-1207 Email us at: letters@dhakatribune.com Send us your Op-Ed articles: opinion@dhakatribune.com Visit our website: www.dhakatribune.com Come join our Facebook community: https://www.facebook.com/DhakaTribune
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Increasing energy efficiency and collaborative regional hydropower projects should be explored fully
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SUDOKU
YESTERDAYS SOLUTIONS
Crossword
How to solve Sudoku: Fill in the blank spaces with the numbers 1 9. Every row, column and 3 x 3 box must contain all nine digits with no numberrepeating.
Sudoku
DHAKA TRIBUNE
Op-Ed
11
Jamaat, if banned, can always take lessons from AKP and come out with a new name
AFP
n Zeeshan Khan
full 42% of Myanmars Rakhine state, bordering Bangladesh, is ethnically South Asian and speaks a variant of Bangla. The districts of Sittwe and Muangdaw are nearly 95% so, and their persecution in a xenophobic and oppressive Myanmar is well known. They are not welcome there and are considered foreign. Many thousands have fled and have sought refuge in neighbouring countries. Others have been murdered or driven out of their homes. The Rohingya, as they are called, are among the most vulnerable people in the world and are rapidly becoming a stateless population. Therefore, the recent precedence set by Crimea, of borders being redrawn by referendum, is an exceedingly attractive one and perhaps among the more elegant solutions to the problems caused by arbitrary national boundaries. Its incorrect, in fact, to say the precedence has been set by Crimea. The use of referendums as a means to redraw borders is really nothing new, and it could be argued that every other means of map-making is inherently undemocratic and imperial. In 1995, Quebec nearly separated from Canada following a referendum. South Sudan split from Sudan after a referendum in 2011. Scottish people will vote later this year to decide if Scotland should become an independent country and leave the United Kingdom. Closer to home, in a referendum held on 6 July 1947, the district of Sylhet opted to separate from the state of Assam and
join East Pakistan. So the precedence of sub-national entities as small as districts seceding already exists. The Federation of Russia, instead of absorbing ethnically-Russian Crimeans, which is something they could have done as well, opted to support the secession of Crimea and its admission into the Russian federation, lending considerable weight to the belief that a people living on a territory belong to it, and it to them.
the region, and are, by some accounts, the ancestors of the Rohingya. The king of Mrauk U also ceded some territory to Bengal and remained a vassal of the Sultanate until 1531. After Arakan became fully independent of Bengali authority, parts of it fell prey to Mogh and Portuguese pirates so in 1665, Mughal subhedar Shaista Khan annexed the territory around Chittagong, originally an Arakan possession, releasing thousands of Bengali
A solution can be sought in a referendum to separate Sittwe and Muangdaw from Rakhine state and join them to Chittagong division
So a solution to the Rohingya issue and the consequential refugee problem that has become taxing for an already over-crowded Bangladesh, can be sought in a referendum to separate Sittwe and Muangdaw from Rakhine state and join them to Chittagong division. Historical arguments, similar to the ones made by Russia regarding Crimea, can also be made for incorporating parts of Rakhine, once known as Arakan, into Bangladesh. In 1430, the autonomous kingdom of Mrauk U was created in what is now Rakhine state, with military assistance from the independent Sultanate of Bengal. Many Bengalis who fought for this new kingdom, formed their own settlements in
peasants who had been held captive by the Arakanese. Therefore, the ceding and incorporating of Rakhine territory into Bengal, especially when a population is being oppressed, is not a new phenomenon, and while annexation is presently out of the question, a free and democratic choice should not be. The problem, of course, is that the Myanmar government has attempted to pre-empt anything of the sort by a) denying the Rohingya citizenship and democratic franchise, and b) by passing a law that makes it illegal for Muslims, only Muslims, in Rakhine state to have more than two children. By attempting to alter demographic
realities, the Myanmar government has proven sympathetic to the genocidal intentions of non-Rohingya Rakhines, in fact, it is virtually an accomplice in the ethnic-cleansing that is underway. The citizenship issue also pushes the Rohingya further into the margins; making theirs a voice no one in Myanmar, perhaps even the world, cares to hear. The averting of a humanitarian crisis should not be held hostage to the prejudices of a national government, especially when there are international organisations and indeed international measures that can be used to apply pressure on it. It behoves the international community to attempt a solution to this crisis, and in the absence of a more conciliatory attitude in Rakhine, the only one might be a referendum. But before one can be conducted the Rohingyas must be restored their full-citizen status, or in the very least be acknowledged as rightful inhabitants of the land they live on, and have done so for hundreds of years. This is a moral obligation and not generosity on the part of Myanmar. Bangladesh, like Russia, should not be indifferent to the plight of a kindred people living across international boundaries, and while, like Crimeans, they should have the option of forming an independent country between Bangladesh and Myanmar, unfeasible as that might be, its incorporation into Bangladesh should not be taken off the table if such an opportunity ever presents itself. l Zeeshan Khan is a journalist at the Dhaka Tribune.
With a meagre 1.8% popularity, it is still the largest Islamist political party of the country
Even with such limited public support, Islami Chhatra Shibirthe student front of Jamaat has always been used to terrorise and attack anyone opposed to its views. Its notoriety got recognised internationally when IHS Janes
The key benefactor of Jamaat, BNP has always expressed scepticism in the governments willingness to ban the party saying that the Awami League will take Jamaat in its alliance if BNP severs ties with it. Its political leaders in talk shows have repeatedly challenged the government to ban it to end the matter. The Prime Minister, on the other hand, after taking oath after the Jan 5 polls told the media that the issue is sub-judice and legal steps are being taken. She added that the decision can only come from the Supreme Court so that no other party can repel the decision once such an announcement has been made. There is little doubt that the votes that are casted for Jamaat will continue to stay with BNP if they are banned. It is also true that having an individual identity helps BNP from associating itself from acts of violence perpetrated by Jamaat whether the public eye accepts it or not. It also must be noted that Jamaat, if banned, can always take lessons from AKP and come out with a new name which will help wipe itself from the legacy of war crimes only if the party decides to distance itself from the war criminals. What happens if the Jamaat is not banned but still barred from participating in elections unless it changes itself from a religion-based communal party to one that allows females and even non-Muslims to head the party? Will it concede? Whether Jamaat will decide to change from a religion-based communal party and allow females or even non-Muslims to head the party in its party constitution to take part in national polls in the future still will remain a question since it will be against almost everything if not all they stand for. However, if banned they can always learn from AKP of Turkey and continue to use its existing symbol. This will help the party to alienate itself from all the controversies and legacy that is so deeply intertwined with war crimes and ethnic cleansing. Whether they will choose to consciously do that will however remain a question until the time comes. l Syed Munazir Hussain is a journalist. He can be followed @Munazir43rd on Twitter.
Good business schools are a must to support economic growth we all aspire to attain in the coming years
In the end, quality will speak for itself. Alumni can play a role here by arranging grants and donations to minimise the gap. More importantly, large business houses can come forward in this regard. A few years back, I was very intrigued by a news item saying after Mahindras $10 million, Tata donates $50 million to Harvard. My experience with teaching MBA/ EMBA students for several years
a degree to enrich your resume; it is a rigorous program to turn you into a hard worker. An administrative cadre must be built to free up some quality time among the thinkers. Business schools should embed a transparent feedback process for evaluating teachers. This should be shared with the teacher concerned and his views must be taken into cognisance.
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DHAKA TRIBUNE
Entertainment
n Hasan Mansoor Chatak
Bangladeshi-British filmmaker Munsur Alis debut work Shongrams soundtrack album was released with Laser Vision label on March 18 at a restaurant in the capital. Talented artistes including Kona, Razu, Armeen Musa, Nashid Kamal and Nolok gave voices in the films tracks which are composed by Armeen Musa who worked this kind of job for the first time while Emon Saha scored the background music for the film. An excited Armeen, who is currently staying at US, expressed her though to Dhaka Tribune over email: I am especially excited about the Nazrul Geeti fusion we did with cajon and nylon string guitars sung by Nashid Kamal and played by Adil Hadi. In the journey of this movie I got to explore various genres and discover my own abilities as a music director and I am really proud that my first film sound track was one about 71. While Emon Saha said: I took the job as a challenge as the film is on a significant event like the Liberation War and incorporates a romantic story. I really worked hard, repeatedly watched the film footages and scored the directors requirement and images theme.
Ruhee in a scene from Shongram Fashion model and aspiring actor Dilruba Yasmeen Ruhee pairs up with talented Amaan Reza for the first time on the silver screen in the international cast movie which includes Bollywoods Anupam Kher and Hollywood and European star Asia Argento alongside talented Bangladeshi artistes including Armaan Parvez Murad, Shubrotho and Ananta Hira. The film is now set to release on March 28 in 50 cinemas at home, while the production plans to hold a world premiere in London in June 2014 followed by Europe and international release. The newfangled 71 film will be premiered at the Blockbuster Cinema screen in Jamuna Future Park on the March 27. l
Stone Films, Boishommo contains a cast of over 200 people. About the film Adam Dawla said: Youth films are uncommon in Bangladesh and I decided to risk making one. I feel that my film can be a learning experience for the young generation about human values and human dignity. Boishommo promises to be a film with a new proposal for the development of filmmaking in Bangladesh. While some people may consider it as an art film, it has all the ingredients of a high-quality commercial film strong acting, good dialogues, two beautiful songs, rich music, a dance, two fight scenes, a murder, dynamism and speed. I am sure the viewers between the age of 14 to 25 will love it. The cine-goers will be glued to their seats from the beginning to the end of the film, added Adam. International distribution is already being done by Ilona Grundmann Film production in Germany while Kirtonkhola Productions is handling the distribution in Bangladesh. l
Popular singer Arnob will perform in todays episode of Live Music Junction on Channel 9 at 12:00am
n Entertainment Desk
Radio Shadhin 92.4 FM is celebrating their first year anniversary at 3pm today on the Asiatic Centre premises. The station is the newest addition to the FM Radio industry of the Bangladeshi media circle. The commercial launching of the station took place last year December. Radio Shadhin 92.4 FM can be heard at this moment by the population of approximately 1.5 crore that reside in and around Dhaka.
TODAY IN DHAKA
Enders Game Avatar 3D Aakash Koto Dure Thor: The Dark World 3D The Hobbit: The Desolation of Smaug in 3D , Frozen in 3D Agnee Time: 10am - 10pm Star Cineplex, Bashundhara City Robocop, Gravity Captain Phillips, Elysium Time: 12:30pm 9:30pm Blockbuster Cinemas Jamuna Future Park Ka- 244, Pragati Avenue, Kuril
Film
ON TV
COMEDY
9:30am Comedy Central
Just For Laughs The Crazy Ones
Exhibition:
MISC
11:30am TLC
Ultimate Shopper
Sculpture Exhibition By Hamiduzzaman Khan Time: 10am 8pm Athena Gallery of Fine Arts, Progoti Shoroni, Uttar Badda Soil and Spirit By Samar Majumder Time: 3pm 8pm Dhaka Art Center (DAC) House-60, Road-7A Dhanmondi R/A Color of Natural Disposition By Bipad Bhanjan Sen Karmaker Time: 3pm 9pm La Galerie, Alliance Francaise de Dhaka, Dhanmondi, I Bow My Head to You in Deep Obeisance By Shahid Kabir Time: 12pm 8pm Bengal Shilpalaya, House 42, Road 16 (New) / 27 (old), Dhanmondi
Sport
you have young players and obviously being a parent myself, we are going to make mistakes. We know we did those. What I really like at moment is that the players have stepped up again. The young man sitting next to me [Anamul Haque] playing as well as he is, guys have been working hard thats all I can ask, he said. The Australian coach believes the few days off between the Asia Cup and the ICC World Twenty20 allowed him and his boys to realize the mistakes they had made and regroup before the very important tournament. I think it gave players and even myself an opportunity. We have sort of been in a can for the last three months. It was a good opportunity, for the guys to just take a break for two days. It gave me an opportunity to go to my apartment [home] and have a look at the whole programme for the T20 world cup and focus on that. The previous two months was quite hectic and we had a lot of injuries and thats what helped as well. We have quite a settled line-up as well now, informed the 37-year-old. Shane also informed that he is happy but never satisfied. From his perspective, there is always an area to improve in and he cited fielding as an area his team were working on. But over all, I am extremely happy with our process. I think the process is much improved. Our batting is certainly sticking to our plan. Maybe with our bowling we always will need to keep our eye on a couple of areas such as the death bowling. Whats really important is our attitude and our approach. That we need to keep consistent, said Shane. l
DHAKA TRIBUNE
13
14 Chelsea, Real
14 We are ready to
15 Zimbabwe alive
Bangladesh cricketers warm-up ahead of their ICC World T20 match against Hong Kong at the ZACS yesterday
RAJIB DHAR
Anamul Haque scored 86 in the first two matches Hong Kongs Haseeb Amjad took four wickets from two matches The only time two sides met was in Asia Cup in 2004 in Sri Lanka Abdur Razzak made his ODI debut against Hong Kong where he claimed 3 19 Mohammad Rafique is the only bowler in ODI history to bowl 1 illegal over past the limit of 10 against Hong Kong
During that time, I tried to improve my batting, taking care of the areas which were needed to mend and tried to play forward. I also worked on a few technical things to improve and hopefully, I will be able to get better in coming times, said the Kushtia lad. Anamul further shared his plans
Bangladesh opener Anamul Haque and head coach Shane Jurgensen attend a press conference at Zahur Ahmed Chowdhury Stadium yesterday RAJIB DHAR
when he walks down to the middle to bat and said he never targets a particular member of the opponents. It becomes easy as a top order batsman to charge the pacers when the wicket is good and the ball doesnt swing doesnt matter how hard they bowl it becomes easier. There is nothing much being told from the team. Video analysis is done normally and then we do the plans individually. I create my own plan and then once I reach the field I understand which ball to play and which to not, explained Anamul. I try not to take time to settle, let it be any format and also try to make sure that the middle order batters are off pressure, he added. Bangladesh was in the field when Hong Kong was battling Afghanistan at ZACS on Tuesday. We have seen their [Hong Kong] last game and the one before that. They play four to five pacers which I think is their strength. We do our homework on the opponents before every game and we will do the same before we take on Hong Kong tomorrow [today], said Anamul. l
BRIEF SCORE
Wasim Akram and Lasith Malinga, the pace stalwarts of past and present share a thought at the SBNCS yesterday
MUMIT M
14
Green chooses US over Germany
Bayern Munich winger Julian Green, who has represented both Germany and the United States at the youth level, has pledged his international allegiance to America, U.S. Soccer said on Tuesday. A dual citizen, Green was born in the United States and raised in Germany. His father is American and his mother German. Green represented Germany at the Under 16, Under 17 and Under 19 levels, and the United States at Under 18s but said he was applying to the worlds governing body FIFA for a one-time change of association so he can commit to the United States. Reuters
DHAKA TRIBUNE
Sport
Chelsea's John Terry (C) heads the ball clear during their Champions League match against Galatasaray at Stamford Bridge in Londonon Tuesday
REUTERS
Chelsea eased into the quarter-finals of the Champions League at the expense of Galatasaray on Tuesday, while Cristiano Ronaldo scored twice as Real Madrid completed a comprehensive win against Schalke 04. First-half goals from Samuel Etoo and Gary Cahill gave Chelsea a 2-0 victory as they saw off their Turkish opponents 3-1 on aggregate to succeed where fellow Premier League clubs Arsenal and Manchester City failed and make it into the last eight. Meanwhile, Carlo Ancelottis Madrid defeated Schalke 3-1 at the San-
RESULTS
3 1
Schlake 04
Chelsea
2 0
Galatasaray
In Spain, Ancelotti resisted the temptation to rest Ronaldo despite Madrid leading 6-1 from the first leg in Germany and having a crucial league game against Barcelona to come
at the weekend. Gareth Bale was left on the bench at kick-off, but the Welshman came on inside eight minutes to replace Jese Rodriguez, who came off with a serious knee injury. Bale then set up Ronaldo to put the Spanish league leaders in front on the night midway through the first period, but Schalke gave their noisy travelling support something to celebrate by equalising on 31 minutes when Tim Hooglands speculative effort beat Iker Casillas with the aid of a huge deflection off Sergio Ramos. Ronaldo fired home his second of the night and his 13th goal in seven Champions League matches this season, but he couldnt complete his hat-trick. l
FIXTURES
Anzhi (RUS) Benfica (POR) Valencia (ESP) Pilsen (CZE) Fiorentina (ITA) Napoli (ITA) Betis (ESP) Salzburg (AUT) v v v v v v v v AZ Alkmaar (NED) Tottenham (ENG) Razgrad (BUL) Lyon (FRA) Juventus (ITA) FC Porto (POR) Sevilla (ESP) FC Basel (SUI)
Real Madrid forward Ronaldo (R) celebrates with teammate Gareth Bale after scoring against Schalke during their UCL match at Santiago Bernabeu on Tuesdsy REUTERS
Spurs lost 3-1 on their last visit to play Benfica in the semi-finals of the European Cup in 1962. If the Portuguese giants are not currently at the level of that great side, led by Eusebio, they are still in great shape. A 4-2 win against Nacional on Monday extended their unbeaten run to 25 matches. They have won their last 10 games and are seven points clear of rivals Sporting at the top of the domestic
DHAKA TRIBUNE
Sport
15
South Africa thrash Pakistan in warm-up
South Africa beat Pakistan by eight wickets in an ICC World T20 warm-up match at the Khan Shaheb Osman Ali Stadium, Fatullah yesterday. Batting first Pakistan, were bundled out for a paltry 71 with Lonwabo Tsotsobe, Beuran Hendricks and Wayne Parnell all grabbing two wickets each, conceding 15, 3 and 2 runs respectively. Ahmed Shahzads 12, Umar Akmals 17
QUICK BYTES
Pakistan 71 all out in 17.3 overs Umar Akmal 17, Shoaib Maqsood 15; B Hendriks 2 3, W Parnell 2 2 South Africa 72 2 in 14 overs Amla 24, De Velliers 20; Umar Gul 1 8, Afridi 1 8 South Africa won by 8 wickets
and 15 off the bat of Sohaib Maqsood were the notable scorers of Pakistan. Later it was a cakewalk for the Proteas who scored 72 for two in 14 overs. Hashim Amla scored 24 off 20 balls, Quinton de Kock added 15 off 17 ball while David Miller and AB de Villiers remained unbeaten on 12 and 20 respectively. Umar Gul and Shahid Afridi took the wickets. Pakistani cricket team defeated New Zealand by six wickets, with one ball remaining in the first warm up match ahead of the World Twenty20 on Monday. With the match Pakistan completed their warm-ups before the final challenge. Pakistan open their ICC World T20 campaign with the crunch match against arch rivals India on Friday. l
BRIEF SCORE
BRIEF SCORES
Netherlands v Zimbabwe Netherlands 140 5 in 20 overs T. Cooper 72 not out, P. Utseya 2 24 Zimbabwe 146 5 in 20 overs B. Taylor 49, H. Masakadza 43; P. Seelaar 2 9 Zimbabwe won by five wickets UAE v Ireland UAE 123 6 in 20 overs S Anwar 30, A Ali 20; P Stirling 2 12, K OBrien 2 17 Ireland 103/3 in 14.2 overs E Joyce 43, W Porterfield 33; Asadullah 2 21 Ireland won by 21 runs in D/L method
Zimbabwe cricketer Vusi Sibanda (R) celebrates with teammate Timycen Maruma (L) after winning the ICC World Twenty20 cricket tournament's qualifying match against Netherlands at Sylhet International Stadium in Sylhet yesterday AFP
India 178 4 in 20 overs V Kohli 74, S Raina 54; R Bopara 1 25, J Dernbach 1 27 England 158 6 in 20 overs M Ali 46, M Lumb 36; R Jadeja 2 23, R Ashwin 1 20 India won by 20 runs
Kohli went on and smashed some glorious shots. He was later joined by skipper Mahendra Singh Dhoni, who was also in an aggressive mood, and India soared. Kohli reached his half century and runs started to come from both ends. The pair added 39 runs in the last three overs. Kohli smashed three fours and took 18 runs from the last over of the innings, which was bowled by Tim Bresnan, to take India to a challenging total of 178/4. In all, Kohli scored 74 off 48 balls with eight boundaries, while his captain Dhoni struck 21 off 14 balls with one four and one six. The pair added 51 from the last 38 balls of the innings. l
BRIEF SCORE
Deputy minister for youth and sports Arif Khan Joy kicks a ball in the opening ceremony of the Pioneer League at the Paltan Ground yesterday
COURTESY
DAYS WATCH
Sony Six NBA 2013 14 6:00AM New York v Indiana 8:30AM La Lakers v San Antonio BTV, Maasranga TV, GTV, Star Sports 1, HD1 ICC World T20 2014 3:30PM Afghanistan v Nepal 7:30PM Bangladesh v Hong Kong UEFA Europa League, R 16 Ten Action 12:00AM Benfica v Tottenham 2:00AM Napoli v Porto Ten HD 12:00AM Plzen v Lyon 2:00AM Salzburg v Basel
Australia 200 7 in 20 overs Warner 65, Finch 47; K Mills 2 21, A Devchich 1 15 New Zealand 197 9 in 20 overs M Gutill 62, B McCullum 37; M Starc 2 21, B Hogg 2 36 Australia won by 3 runs
New Zealand looked the favourites as they needed 13 runs off the last 10 balls but Mitchell Starc took two wickets in the 19th over to turn the tide as the Kiwis finished with 197/9. Starc, CoulterNile, Brad Hogg and Muirhead bagged each took two wickets for Australia. l
BRIEF SCORE
AFP
16
THE RHYTHM OF CRICKET
DHAKA TRIBUNE
Back Page
A group of youths perform a flash mob at Manik Mia Avenue in the capital to mark the T20 World Cup in Bangladesh yesterday
The finance division has opined that IMFs ECF programmes will be completed as per the existing conditions
Non-concessional credit of IMF which is debt sustainable will not put negative impact on the economy and the global lender will not scrutinise such loan. There is no need for a separate policy discussion on macro-significance loan of IMF. The multilateral lender will monitor those projects if the loans are higher than 1-2% of gross domestic product (GDP) of any country. If the countries take out loans over $1 billion, the projects will come under the purview of the IMF.
Editor: Zafar Sobhan, Published and Printed by Kazi Anis Ahmed on behalf of 2A Media Limited at Dainik Shakaler Khabar Publications Limited, 153/7, Tejgaon Industrial Area, Dhaka-1208. Editorial, News & Commercial Office: FR Tower, 8/C Panthapath, Shukrabad, Dhaka 1207. Phone: 9132093 94, Advertising: 9132155, Circulation: 9132282, Fax: News-9132192, e-mail: news@dhakatribune.com, info@dhakatribune.com, Website: www.dhakatribune.com
B3 US business survey:
Closing Price
66 64 62 60 58 56 Feb Mar
Closing Price
MHSML 353%
46 44 42 40
'The companys debut prices hardly make any sense as there is no fundamental logic behind such price soaring'
Volume of shares worth over Tk36 crore was traded, which is the biggest single-day trade by a company in the recent months and made up 10.7% of the DSEs total trade. Analysts say price surge in the companys first trading day might have been resulted from investors confidence but not based on fundamentals if its net asset value taken into account. The companys restated net asset value is Tk12.25 in 2013. It has reported net profit of Tk1.98 crore for the last quarter ended on December 31, 2013 as against Tk2.42 crore for the same period a year earlier, according to its financial statement. In the second half of last year (July
Closing Price
Closing Price
Jan Feb Mar
38 36 34 32 30
55
50
45
to December), the companys profitability declined to Tk3.31 crore, which was Tk3.68 in the same period a year before. The companys debut prices hardly make any sense as there is no fundamental logic behind such price soaring, said Shahidul Islam, CEO of VIPB Asset Management Company Limited. Another analyst said: It is nothing but over enthusiasm.
The company in its IPO prospectus showed increase in sales, which was partially offset through increased salaries and allowances that was surged three times from June 2013 to June 2012.
Edible oil producer also reported an increase of financial expenses of Tk1.67 crore to a total of Tk8.56 crore. The yearly amount of financial expense exceeds the profit after tax. For the very reason, the IPO proceeds are being used for repayment of term loan, IPO expenses and strengthening the capital base. The company proposed to invest its IPO proceeds partly for implementation of (Balancing Modernisation Rehabilitation and Expansion) BMRE to increase production capacity. It planned to go for BMRE to double its capacity so as to produce 60MT of crude oil and 240MT of De-Oiled Rice Bran per day, for which it had bought 2.2 acres of land adjacent to its existing
factory and procured two sets of new machinery from India and China. However, any new project carries some inherent risks and may not be successful or may take long time to secure desired profitability, said the prospectus. No further detail on the company is available as the company did not upload its latest financial statements that should have been available in its website, the link to which should be provided at the DSE website. Its initial public offering has been oversubscribed by more than 39 times, according to the Chittagong Stock Exchange. Investors ordered shares worth over Tk784 crore against the offer of Tk20 crore. l
DCCI wants tax exemption limit Tk3 lakh in FY15 n Tribune Report
Dhaka Chamber of Commerce and Industry (DCCI) yesterday recommended the tax authorities to increase the tax free income ceiling for individual taxpayers to Tk3,00,000 from the next fiscal year from existing Tk2,20,000. It put forward a set of proposals consisting 59-point recommendations for the coming budget for the fiscal year 2014 15. The trade body also recommended increasing the ceiling for female and senior citizens aged over 65 years from Tk2,50,000 to Tk3,50,000 and for the physically challenged taxpayers from Tk3,00,000 to Tk4,00,000. It also recommended imposing 20% tax on income over Tk5 lakh or above. The chamber submitted the pre-budget recommendations to National Board of Revenue Chairman Md. Ghulam Hussain at the NBR headquarters in Dhaka. DCCI President Mohammad Shahjahan Khan handed over the recommendations when Vice President Kh. Shahidul Islam and director Haider Ahmed Khan were present. The suggestions also included increasing VAT-free investment capital in plant and machineries equipment to Tk1 crore from the existing 80,00,000, not imposing tax on income of chamber or trade bodies, providing 15% cash incentives to export of plastic goods, reduction of corporate tax for listed companies from 27.5% to 20%, and continuation of special incentives for SMEs sector. l
The CD-80 motorcycle runs 70 to 80 kilometres with one litre of petrol. Bangladesh has a market size of about 200,000 million units with annual turnover of Tk30 billion, Rakib said. According to Bangladesh Road Transport Authority, some 101,588 motorcycles were registered in 2012 while it was 85,808 in 2013. The market was down in the last year due to unrest in the country. We hope the sales will pick up this year, Rakib said. Indian brand Hero Honda has already struck a contract with Nitol Motors to assemble motorcycle in Bangladesh while another Japanese brand Suzuki is expected to start assembling this year, he said. Indian Bajaj, Chinese Runner and Indian TVS are three major brands in Bangladesh. l
Exports grow by a robust 32% in July-February period of FY14 Association, Bangladesh Handicrafts first eight months of the current fiscal n Ibrahim Hossain Ovi Manufacturers and Exporters Associ- due to increased demands in the glob-
al markets, according to EPB. It was $19.20 million in the same period last fiscal year when the total furniture export stood at $31.41 million. The figure is 6% higher against its target of nearly $24 million set for the July-February period of 2013-14. The government has set a furniture export target of about $38m with 20% growth for the current financial year while the total export target set at $30.5bn.
B3 COLUMN 5
B2
DHAKA TRIBUNE
Stock
DSE GAINERS Company
Closing (% change) 5.87 4.25 3.43 3.32 3.14 3.00 2.56 2.50 2.47 1.85
Kohinoor Chem -A BSC A 2nd ICB M F -A Renwick Jajneswar-A Central Insur -A UCBL - A 8th ICB M F A Modern Dyeing -Z JMI Syringes MDL A ICB Islamic Bank-Z CSE GAINERS Company ICB AMCL 1st NRB -A Northern G Insur-A Rupali Life Insur.-A Islami Ins.BD A BSC A UCBL - A Hakkani P& Paper -B R. N. Spinning-Z Apex Footwear-A Berger Paints-A
Average (% change) 3.93 2.71 3.97 2.03 3.24 2.10 3.03 2.50 (1.72) (0.54) Average (% change) 10.19 8.02 5.80 5.00 2.78 1.50 2.70 1.23 1.89 1.55
Closing average 397.02 655.64 288.00 280.00 29.62 23.78 68.00 82.00 189.47 5.49
Closing 402.30 668.75 286.50 283.50 29.60 24.00 68.00 82.00 195.00 5.50
Daily high 413.00 674.50 289.00 289.90 29.90 24.10 68.50 82.00 201.20 5.60
Daily low 360.00 642.00 277.00 273.20 28.90 21.00 67.40 82.00 185.40 5.40
Turnover in million 0.692 244.985 0.072 15.554 0.462 70.050 0.272 0.008 9.947 0.247
Latest EPS 7.88 24.00 35.42 5.32 2.49 3.66 8.32 1.54 1.97 -0.26
Latest PE 50.4 27.3 8.1 52.6 11.9 6.5 8.2 53.2 96.2 -ve
Closing (% change) 9.96 8.05 5.42 5.00 4.10 2.59 2.45 2.00 1.89 1.55
Closing average 26.50 47.00 124.42 31.50 655.61 23.61 33.50 30.35 540.00 985.00
Closing 26.50 47.00 124.40 31.50 667.30 23.80 33.50 30.60 540.00 985.00
Daily high 26.50 47.00 124.60 31.50 673.00 23.90 33.50 32.00 540.00 985.00
Daily low 26.50 47.00 116.00 31.50 639.00 22.80 33.50 29.90 540.00 985.00
Turnover in million 0.027 0.047 2.986 0.079 47.116 6.013 0.017 1.263 0.108 0.049
Latest EPS 4.74 3.04 5.33 1.60 24.00 3.66 0.28 6.11 28.27 37.13
Latest PE 5.6 15.5 23.3 19.7 27.3 6.5 119.6 5.0 19.1 26.5
(-) 0.79% (-) 1.14% (-) 0.71% (-) 0.76% (-) 0.73% (-) 0.77%
Traded Issues Issue Gain (Avg. Price Basis) Issue Loss (Avg. Price Basis) Unchanged Issue (Avg. Price Basis) Market Capital Equity (Billion. Tk.) Market Capital Equity (Billion US$)
Impact after declaration: PIONEERINS price dropped by 2.32%, close at taka 71.40 with PE 23.64. GLOBALINS price dropped by 3.48%, close at taka 27.70 with PE 25.41. Price Correction after Record Day: ULC price correction was 11.47% (taka 3.20) against 5% cash & 10% stock Dividend (taka 3.29 per share approx.). After record day restated EPS is taka 1.90 and NAV per share is taka 13.
RIGHT SHARE:
ARAMITCEM: Subscription 23.03.2014 to 17.04.2014. Record date for entitlement of rights share: 09.01.2014. RUPALILIFESubscription 06.04.2014 to 05.05.2014. Record date for entitlement of rights share: 16.01.2014. BRACBANK: Subscription 20.04.2014 to 15.05.2014. Record date for entitlement of rights share: 10.02.2014. GENNEXT: Subscription 18.03.2014 to 09.04.2014, Record date: 25.02.2014.
Average (% change) -10.83 -10.25 -4.76 -3.48 -6.37 -5.98 -4.01 -5.39
Closing average 24.78 27.49 6.20 105.06 31.90 52.96 21.52 104.99
Daily high 25.50 29.00 6.90 109.00 34.20 53.60 23.00 109.70
Daily low 24.30 27.30 5.80 99.20 31.30 51.20 21.10 101.00
Turnover in million 6.834 8.234 3.945 3.782 1.963 1.271 4.714 7.612
Latest EPS 1.90 0.80 0.88 1.85 1.39 -1.00 0.22 2.74
-4.88 -4.87
-5.31 -4.99
19.78 450.71
19.50 451.00
20.50 470.00
19.00 438.00
2.189 0.631
-0.98 3.04
-ve 148.3
Closing (% change) -9.90 -8.17 -8.00 -7.69 -7.34 -6.98 -5.69 -5.46
Average (% change) -8.34 -8.16 -8.00 -3.69 -6.91 -7.19 -7.41 -4.46
Closing average 27.82 52.81 46.00 6.26 10.10 8.00 102.80 17.14
Daily high 30.10 53.50 46.00 6.80 10.10 8.00 102.80 17.30
Daily low 27.30 52.50 46.00 5.90 10.10 8.00 102.80 17.10
Turnover in million 1.516 0.264 0.023 0.513 0.025 0.004 0.154 0.043
Latest EPS 0.80 -1.00 1.06 0.88 1.46 1.60 2.74 2.05
-5.22 -5.06
-3.61 -5.06
55.61 7.50
54.50 7.50
57.00 7.50
53.80 7.50
0.500 0.004
2.56 1.24
21.7 6.0
ANALYST
The ongoing correction may soon come to an end and the chances for the market to re-bounce are very likely during next week or so as investors patience is running thin
CSE Total
DSE TURNOVER LEADERS Company Emerald Oil Ind. -N Square Pharma -A BSC A LafargeS Cement-Z Padma Oil Co. -A Olympic Ind. -A
Meghna Petroleum -A
DSE Million Taka 260.83 116.76 59.37 286.84 553.60 365.55 4.89 250.36 475.54 0.74 19.80 53.13 12.71 194.41 22.97 58.55 117.73 181.00 46.62 298.14 0.97
% change 7.72 3.45 1.76 8.49 16.38 10.81 0.14 7.41 14.07 0.02 0.59 1.57 0.38 5.75 0.68 1.73 3.48 5.35 1.38 8.82 0.03
Million Taka 26.01 8.76 4.23 24.16 125.68 124.66 124.07 34.02 206.92 1.32 208.36 0.98 15.34 2.23 1.40 10.06 21.93 6.01 53.29 0.02
% change 2.60 0.88 0.42 2.42 12.58 12.47 0.00 12.41 3.40 20.70 0.13 20.85 0.10 1.53 0.22 0.14 1.01 2.19 0.60 5.33 0.00
Million Taka 286.84 125.52 63.59 311.00 679.28 490.21 4.89 374.44 509.56 207.66 21.12 261.49 13.69 209.74 25.20 59.95 127.79 202.93 52.63 351.43 0.99
% change 6.55 2.87 1.45 7.10 15.51 11.19 0.11 8.55 11.63 4.74 0.48 5.97 0.31 4.79 0.58 1.37 2.92 4.63 1.20 8.02 0.02
Jamuna Oil -A ConfidenceCement A Delta Life Insu. -A Square Textile -A National Tubes -A
CSE TURNOVER LEADERS Company BSC A
Volume shares 6,879,000 1,038,586 373,660 2,154,500 301,443 461,000 347,526 436,200 423,574 2,946,048
Value in million 361.29 277.44 244.99 102.27 101.56 97.07 96.47 92.08 88.92 70.05
% of total turnover 10.69 8.21 7.25 3.03 3.00 2.87 2.85 2.72 2.63 2.07
Daily closing 50.00 268.20 668.75 47.90 339.80 210.90 277.30 211.30 208.70 24.00
Price change 0.00 -2.19 4.25 0.00 1.13 -1.31 -0.64 0.00 -1.88 3.00
Daily opening 0.00 274.20 641.50 47.90 336.00 213.70 279.10 211.30 212.70 23.30
Daily high 60.00 275.00 674.50 48.10 345.00 216.90 280.00 212.00 213.40 24.10
Daily low 49.50 255.00 642.00 46.90 311.00 200.00 255.00 210.00 194.60 21.00
Daily average 52.52 267.13 655.64 47.47 336.90 210.56 277.59 211.11 209.93 23.78
Volume shares
Prepared exclusively for Dhaka Tribune by Business Information Automation Service Line (BIASL), on the basis of information collected from daily stock quotations and audited reports of the listed companies. High level of caution has been taken to collect and present the above information and data. The publisher will not take any responsibility if any body uses this information and data for his/her investment decision. For any query please email to biasl@bol-online.com or call 01552153562 or go to www.biasl.net
Square Pharma -A BD Submarine Cable-A Emerald Oil Ind. -N LafargeS Cement-Z Padma Oil Co. -A Appollo Ispat CL -N Beach Hatchery -A UCBL - A Grameenphone-A Delta Life Insu. -A Southeast Bank-A Jamuna Oil -A Orion Pharma-N BEXIMCO Ltd. -A
71,865 63,770 76,169 52,000 221,000 27,226 324,200 186,714 254,692 28,200 23,600 267,510 16,899 65,420 120,902
Value in million
47.12 17.04 15.99 10.96 10.43 9.16 8.70 6.02 6.01 5.94 5.87 4.92 3.87 3.84 3.75
% of total turnover
17.11 6.19 5.81 3.98 3.79 3.33 3.16 2.19 2.18 2.16 2.13 1.79 1.40 1.39 1.36
Daily closing
667.30 268.20 208.80 49.80 47.90 339.10 26.70 32.30 23.80 210.30 247.90 18.30 228.70 58.40 30.90
Price change
4.10 -1.72 -1.93 0.00 -0.21 0.77 -3.61 -1.82 2.59 -0.14 -1.39 -1.08 -0.31 -1.85 -0.96
Daily opening
641.00 272.90 212.90 0.00 48.00 336.50 27.70 32.90 23.20 210.60 251.40 18.50 229.40 59.50 31.20
673.00 273.00 214.70 62.60 48.40 341.00 27.90 32.60 23.90 211.70 252.00 18.80 230.90 59.20 31.30
639.00 263.40 208.10 48.90 46.90 333.00 26.40 31.80 22.80 209.20 246.00 18.10 227.10 58.00 30.80
Daily average
655.61 267.22 209.94 210.83 47.17 336.51 26.84 32.23 23.61 210.63 248.62 18.38 228.85 58.70 31.03
DHAKA TRIBUNE
Business
BSS
B3
Dollar rises in Asia ahead of Fed meeting
n AFP, Tokyo
The dollar edged higher against the yen and euro in Asia yesterday as investors focus on the US Federal Reserves latest policy meeting, the first under new chair Janet Yellen. There are hopes Yellen will provide some guidance on the banks plans for interest rates after the conclusion of the meeting later in the working day. Analysts said the dollar and euro were buoyed by easing fears over the crisis in Crimea. In Tokyo afternoon trade, the dollar bought 101.51 yen, up from 101.42 yen in New York Tuesday. The euro fetched $1.3919 and 141.28 yen compared with $1.3932 and 141.29 yen. The yen hardly moved after official data showed Japan ran a trade deficit for the 20th consecutive month in February, although the shortfall was well below a record shortfall suffered in January. l
Grameenphone shares profit Cambodias garment exports still rising with employees n
n Muhammad Zahidul Islam
Grameenphone has shared 5% of its net profit made in 2013 under a labour law requirement and every employee received Tk1,92,091 this week, said officials. Eighteen kinds of industry including the mobile phone companies are required by the labour law as amended last year to pay 5% of net profits to the employees. The largest mobile phone operator, Grameenphone disbursed a total of Tk73.5 crore among the staff from Tk1,470 crore profit earning of 2013, the officials said. Robi, another operator, said they would give away the profit share of 2013 to the employees this month. The operator shared the 2012 profit also. Finance Ministry issued a circular in 2010 asking the companies of 18 kinds of industry to pay profit shares to their employees. Last year it was included in the labour law. Grameenphone has decided to give employees the profit shares of the three years too from 2010, which will cost the company a total of Tk235 crore, the officials said. three years respectively. After issuance of the circular in 2010, Grameenphone authorities however challenged in the court that mobile phone companies could not be considered one of the 18 kinds of industry. The employees of the company, under the name of Grameenphone Peoples Council, took stance against the authorities claim in the court. The company later declared to share profits with the employees. Robi was the first of the mobile companies to have distributed 5% of the 2012 profit with its 1,800 employees. The net profit was Tk91.1 crore in 2012. The profit increased to Tk365 crore in 2013. We shared profit last year and will soon do the same this year too. We are waiting for the settlement of final accounts (of 2013), said Mahmudur Rahaman, executive vice president of Robi. l Garment industry, the kingdom s largest foreign currency earner, reported a 6.5% rise in exports in the first two months of 2014 despite recent production suspension due to illegally violent strikes. During the January-February period this year, the country exported garment and shoe products worth 991m US dollars, up 6.5% from 930m US dollars over the same period last year, the figures of the Ministry of Commerce showed today. The products have been mostly sold to the United States and European countries, and some Asian countries, particularly Japan, China, and South Korea. The sector, comprised some 900 factories with about 600,000 workers, accounts for about 80% of the countrys total exports. The whole industry had been closed for two weeks in late December and early January due to illegal protests to
Robi, another operator, said they would give away the profit share of 2013 to the employees this month
The market leader made a profit of Tk1,751 crore in 2012, Tk1889 crore in 2011 and Tk1071 crore in 2010. It will have to share Tk87.5 crore, Tk94.45 crore and Tk53.55 crore for the
demand higher wages. Ly Tek Heng, operations manager of the Garment Manufacturers Association of Cambodia, said the export growth was still low because of a production halt early this year caused by outlawed strikes. I believe that the sector will continue higher growth if the government takes strict actions against any illegal strikes in the future, he said. Eight opposition-aligned trade unions announced last week that they would jointly lead a stay-at-home garment strike from April 17 to April 22 to demand a 160 US dollars minimum wages for garment workers and the release of 21 detainees, who were arrested in early January during violent protests. Pav Sina, president of the Collective Union of Movement of Workers, said the eight trade unions represented over 100,000 workers. A minimum wage for garment workers is currently 100 US dollars. l
A director will serve a three year-term and can be appointed for maximum two consecutive terms. The government will appoint chairman with prior approval of Bangladesh Bank. The board of directors will appoint managing director with approval from the central bank. MD can serve until he is 65 years old. Audit will be conducted by two firms enlisted by Bangladesh Bank. The board will submit audit report to the central bank within three months after the end of a financial year. A part of profit will be used for reserve fund and bad debts, another part will be distributed among shareholders and the remaining profit will be usedin different purposes of the bank. If a borrower used false information to get loans from the bank, he would get one-year imprisonment or Tk50,000fine. Besides, one will be punished with one-year jail or Tk1 lakh if he uses the banks name to serve in his firms prospectus. Some already questioned the viability of the bank as such other specialised banks were yet to achieve their goals. It seems that the government will use the bank for their political interest. So, the bank has risks to ensure financial inclusion of rural people, said a senior official of Finance Division, who wants not to be named. The cabinet last November approved a draft law for the bank. The bank will start its functions from first of July. The head office will be in the Palli Development Board in Dhaka, MA Kader Sarkar, cooperatives secretary, toldthe Dhaka Tribune. He however said the bank would seek land from the government in and around the Dhaka city to establish a permanent head office. The draft of PalliSanchay Bank Act 2013 was prepared by the Rural Development and Cooperatives Division and forwarded to the finance ministrys banking division. l
US business survey: Chinas smog driving top foreign talent away panies surveyed remained optimistic about the business outlook for the next two years. This optimism is driven by our memberships confidence in their own ability to adjust and deal with the challenges, said Mark Duval, China president of the American Chamber of Commerce.
REUTERS
Despite the concerns over pollution, Chinas cooling economy, which government leaders project to grow this year at about 7.5%, posed the greatest risk to companies, according to those polled in the Beijing survey. Firms increasingly reported a stagnation or contraction in operating margins compared with previous years, it said. As a result, more foreign firms saw China as just one of many investment possibilities, the report said. Nevertheless, a majority of com-
'My judgement is that the biggest area that drives (this response) would be market access'
Many members had high expectations that recently announced economic reforms might deliver, Duval added. But two in five respondents to the Beijing survey said the business climate had become less welcoming for multinationals, with a similar number saying foreign firms were being singled out in a series of pricing and corruption
investigations. Those investigations have targeted various sectors, including pharmaceutical and milk powder multinationals, as well as American technology companies. Most recently, Chinas anti-monopoly regulator said Qualcomm Inc was suspected of overcharging and abusing its market position. The US chip giant has said it was cooperating with the investigation by the National Development and Reform Commission. Respondents also chafed at perceived state enterprise favouritism, with 77% believing policies benefiting state-owned firms had negatively impacted their business. My judgement is that the biggest area that drives (this response) would be market access, said Duval. Protection of trade secrets and company name theft were among other issues worrying businesses. Half of all respondents said that protecting confidential company data was a concern. Other difficulties were a lack of clarity and inconsistency in the application of laws and regulations, the survey said. l
Export earnings from the furniture sector has seen uptrend as the buyers are coming out from the recession, Firoz Al Mamun, head of marketing and Sales of Hatil Furniture, told the Dhaka Tribune. Buyers are leaving China market due to higher production cost, which is another reason for upward rally in export value. In the recent months, global retail-
ers including Ikea and Walmart has visited the country and shown keen interest to import furniture from Bangladesh, Firoz said. At present, the country exports office furniture, metal furniture, seats with metal frames, bedroom furniture, wooden furniture, and furniture of plastic, parts of furniture, mattress supports, sleeping bag and lamp and light fittings to various destinations of the world. l
Selim RF Hussain, CEO and MD of IDLC Finance Limited and Hamidul Huq, MD of Credit Rating Agency of Bangladesh Ltd (CRAB) exchanging documents after signing an agreement on behalf of their respective organisations recently. Under the deal, CRAB will provide credit rating service to the SME clients of IDLC Finance Limited
The 12th annual general meeting of Bengal Poly and Paper Sack Limited was held on March 19 at a hotel in Dhaka. The companys chairperson, Morshed Alam presided over the meeting
Export Import Bank of Bangladesh Limited organised a traditional Mezban on March 17 at The King of Chittagong in honour to its clients, well-wishers and patrons in Chittagong region. Members at the banks board of directors were present the Mejban
Engr Farasath Ali, chairman of NRBCB handed over a cheque to the Prime Minister Sheikh Hasina in observance of Lakho kanthey Sonar Bangla to mark the 43rd Independence Day
QAFM Serajul Islam, director of Mutual Trust Bank Ltd is seen handing over a cheque amounting to Tk1 crore to Prime Minister Sheikh Hasina, as donation for the Lakho Konthey Sonar Bangla fund, at a ceremony held at Gono Bhaban in Dhaka recently
Prime Minister Sheikh Hasina seen receiving a cheque of Tk1 crore from Trust Bank Limiteds chairperson, Maj Gen Ashraf Abdullah Yussuf, rcds, afwc, psc for ICC T20 World Cup 2014
B4
DHAKA TRIBUNE
Back Page
Fitness trackers
Android smartwatches will connect wirelessly to a mobile phone and can be outfitted with a variety of sensors, Google said. That means that apps developed for Android watches will be able to moni-
A Moto 360 smartwatch is seen in this Motorola Mobility LLC. Google Inc said on Tuesday that smartwatches based on its Android mobile software will be available later this year, enlisting a variety of partners and signaling the Internet company's intent to play a leading role in what could be the next big computing market GOOGLE tor fitness and health information such as a wearers heart rate or distance jogged. Google released an Android Wear Developer Preview on Tuesday, saying it would allow software makers to
Google, whose projects range from self-driving cars to robots, likely sees smartwatches as part of the future evolution of computing, said Raymond James analyst Aaron Kessler. But he said it remained to be seen whether smartwatches will become an indispensable digital accessory or a niceto-have gadget. At this point I would still view it as a niche product, he said. Among the more than 10 companies that are partnering with Google on Android watches are Samsung Electronics Co, HTC Corp, Asustek Computer Inc, Intel Corp, Qualcomm Inc, Broadcom Corp and Mediatek Inc. Qualcomm and its manufacturing customers are working on multiple wearable devices based on its Snapdragon processors, spokesman Jon Carvill said. He declined to elaborate. Weve barely scratched the surface of whats possible with mobile technology, Google said in a post on its official blog on Tuesday. Thats why were so excited about wearables they understand the context of the world around you, and you can interact with them simply and efficiently, with just a glance or a spoken word. l
Corporate sentiment in the Philippines rebounded the most in the first quarter of 2014, with all 12 respondents reporting positive sentiment that pushed the sentiment index to 100, even as the majority of them were concerned about the uncertain global economy. Most companies in the country reported higher new orders and employment levels as massive rebuilding efforts, including the governments $3.1bn spending plan after a devastat-
By sector, the retail industry showed a big improvement, with half of the eight respondents neutral and the other half positive, taking the reading up 17 points to 75 from 58 in the fourth quarter of 2013. In a sign of growing confidence in the sector, Asias top apparel retailer, Japans Fast Retailing Co is among global retailers expanding aggressively in Asia, with plans to boost sales in greater China by more than 30 percent this year. A recovering economy has contributed to the rosier performance of retailing in developed countries in Asia, said Euromonitor International analyst Honey Lim. In addition, the completion of new and revamped malls in the city cen-
tre and suburbs has supported value growth of retailing in Singapore in 2014. High rental costs, particularly in Singapore and Hong Kong, also drove prices upwards as retailers pass increasing costs to end-consumers. Sentiment among Asian automakers also improved considerably, with all 11 respondents saying they were neutral on the outlook. The sector reported a reading of 50 in the first quarter compared to the 33 score it turned in the fourth quarter of 2013. l
DILBERT
South Korean models pose with Samsung Electronics' new interchangeable-lens camera "NX mini" during its launch in Seoul
AFP