Bangladesh Economy: News & Updates

[CaPtAiN_pLaNeT]

Exports rise on China shift

Tuesday, 07 September 2010 23:45

Exports rise on China shift

Exports rise on China shift


Star Business Report

Exports in July, the first month of the current fiscal year, rose more than 26 percent, compared to the same month last year, according to Export Promotion Bureau data.

Garment owners link the bright figure to a growing trend of international buyers shifting orders from China to Bangladesh.

The amount Bangladesh exported in July is $1.81 billion, with $798.66 million coming from knitwear and $671.28 million from woven items, a rise of 22.55 percent and 28.62 percent from July 2009.

During the month, exports of other items -- frozen foods, tea, leather, leather products, raw jute, jute carpets, home textiles, footwear, ceramic products, bicycles and furniture -- also increased, but the export of chemical products, handicraft, pharmaceuticals and urea fertilisers experienced negative growth.

Commerce Minister Faruk Khan in a meeting at EPB asked businessmen not to be complacent by the growth figures and urged them to work harder to achieve a target of $18.5 billion in fiscal 2010-11.

Salim Osman, president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), said garment exports from Bangladesh have been increasing because of a shift in orders from China to Bangladesh.

"The cost of RMG production increased in China that faces a shortage of workers in the garments sector for the diversified industrialisation trends emerging there," he said.

Echoing Osman's view, former president of Bangladesh Garment Manufacturers and Exporters Association Anwar-ul-Alam Chowdhury Parvez said customers are eager to place orders in Bangladesh, as China has been affected by worker shortages.

He said Bangladesh can hardly utilise its production capacity at an optimum level as it suffers from power and gas crunches and weak infrastructure. Efficiency at Chittagong Port also lost steam due to poor operations, Parvez added.

"The turnaround time at Chittagong port increased from three to twelve days," he said. As a result, garment exporters have to send consignments by air, incurring higher costs.

 

[CaPtAiN_pLaNeT]

July export posts 26pc growth

Tuesday, 07 September 2010 23:47

Business

July export posts 26pc growth

Workers are busy at a garment factory in the city recently. The country’s merchandise shipments, including RMG, see more than 26 per cent growth in July. — New Age photo Workers are busy at a garment factory in the city recently. The country’s merchandise shipments, including RMG, see more than 26 per cent growth in July. — New Age photo

Special Correspondent

The country’s merchandise shipments saw more than 26 per cent growth in July marking a good beginning for exports in the current fiscal year compared to the similar period of the last fiscal which experienced a negative growth.

Commerce ministry officials said export shipments amounted $1.82 billion in the first month of the current fiscal against $1.44 million in the same month of the previous fiscal year.

The past fiscal year began with minus seven per cent growth as a tail impact of recession in western markets had hit hard Bangladesh’s readymade garment exporters. Citing data from the Export Promotion Bureau, officials said readymade garments, which make three-fourths of the country’s export proceeds, grew 25.5 per cent on an average in July.

Exports of knitwear amounted $799 million, growing 23 per cent year-on-year, while shipments of woven or cut and sew garments amounted $671 million with 29 per cent growth. In July 2009, knitwear had seen less than 2 per cent growth year-on-year, that for woven garments had been minus 5 per cent and home textile minus 11 per cent.

The Bangladesh Garment Manufacturers and Exporters Association president Abdus Salam Murshedy said high growth in garment exports earning is being achieved through ‘much pain’ of the exporters.

Citing availability of satisfactory amount of orders and increase in the cost of production due to loss of production by gas and power shortage, Salam said, ‘Bangladeshi exporters are not used to rejecting importers and are executing orders at rock bottom prices and buying export growth for the country.’

At present, there are many scopes to make exports growth much higher as western importers are facing problems in low cost procurement from China, Salam said. ‘Infrastructure problems are making Bangladeshi exporters handicapped,’ he lamented.

Analysts say that rebounding shipments of readymade garments to the United States and the European Union have mainly helped export earnings return to happy growth figures.

Increased growth in garment shipments to some new markets including Turkey and Japan are also helping the country’s positive growth in exports earnings, said analysts.

Continued high growth in the shipments of some significant export items including raw jute, jute goods, home textile and finished leather have also contributed to the encouraging growth in July.

Shipments of frozen foods, mainly shrimps, have also seen a robust growth in July after more than a year of low and minus growths.

 

[CaPtAiN_pLaNeT]

Pharma sector gets a new player

Tuesday, 07 September 2010 23:48

Pharma sector gets a new player

Pharma sector gets a new player



Sayeda Akter

Abdul Monem Group is ready to expand its horizon by setting foot in the pharmaceuticals sector, to provide high-quality products at affordable prices.

The new avenue for business, Novus Pharmaceuticals Ltd, starts commercial operations today.

Initially, the company has invested nearly Tk 30 crore to set up the factory and import state-of-the-art machinery at Hemayetpur in Savar, said ASM Mainuddin Monem, managing director of Novus.

"As an entrepreneur, we feel it a responsibility to help improve the healthcare situation and ensure health equity in the country. And I believe that business is an initiative but service is the priority," said Mainuddin.

"We are starting with a small scheme. We have a vision to offer high quality pharmaceutical products at affordable prices, mainly to low-income groups."

Although the healthcare situation has improved a lot mainly in the last decade, low-income groups are yet to get full benefits, he said. "That interested us in getting involved in pharmaceuticals."

Novus is entering the sector at a time when most of the top 10 revenue earning pharmaceutical companies are increasing production capacities to meet growing demand.

Industry insiders said greater public health awareness and investment boosted the sector, setting a new benchmark for turnover every year.

With an annual turnover of around Tk 800 crore, Monem Group thought about entering the pharmaceuticals sector in 2005 and established AM Pharmaceuticals Ltd that failed eventually, said Mainuddin.

Later, Monem Group purchased Novus from Pharmadesh Laboratories Ltd in May 2008 and began developing the factory.

"We got a building infrastructure with minimum facilities from Pharmadesh. We had to work over the last two years to make it a factory of international standards. We imported machinery from UK, Germany, Japan, China and India," he said.

"In addition, we established a strong research and development (R&D) department, which will ensure standards that meet the Current Good Manufacturing Practices criteria set by the World Health Organisation (WHO)," said the Novus boss.

Initially, the company aims to produce primary and chronic health care items, which includes paracetamol and omeprazol, to reach out to the common people.

"We will gradually shift to produce anticancer and anti-AIDS items in the next three to five years."

The 90 staff company, Novus, also plans to get listed in the capital market in the next three to five years, said Mainuddin, also deputy managing director of Abdul Monem Ltd.

At present, the annual market size of the pharmaceutical industry stands at around Tk 7,000 crore, which is growing at a rate of 15 percent a year, said industry insiders.

There are 250 small, medium and large local and multinational pharmaceutical companies operating in Bangladesh.

Of the 250 companies in Bangladesh, the top 10 -- Square, Beximco, Eskayef, Incepta, Acme, ACI, Opsonin, Renata, Aristopharma and Drug International -- take up nearly 70 percent of the total market, according to Intercontinental Marketing Services, a global pharmaceutical market intelligence agency.

 

[CaPtAiN_pLaNeT]

BB plans to buy gold for diversifying forex reserve

Tuesday, 07 September 2010 23:41

BB plans to buy gold for diversifying forex reserve

BB plans to buy gold for diversifying forex reserve
Siddique Islam

The central bank plans to buy gold for diversifying its foreign currency reserve, which stood at all time high at $11.115 billion Monday, thanks to a robust growth of inward remittances as well as decreasing import payments.

"The central bank has considered actively diversifying its forex reserve into gold," a senior official of the Bangladesh Bank (BB) told the FE Tuesday, adding that the central bank has taken the latest move to minimize risk of its investment of foreign currencies.

He also said India and Sir Lanka have already increased their holdings of gold to minimise currencies valuation losses because of volatility in the global forex market.

"Steady growth of inward remittances and decreasing import payments have contributed to attain the forex reserve at all time high," another BB official said, adding that the reserve is managed efficiently through safe and sound investment abroad.

The country's overall imports fell slightly in July this year following a significant rise in imports of essentials in the previous two months to meet their growing demand for the month of ongoing Ramadan.

Opening of fresh letters of credit (LCs) against imports, generally known as import orders, fell by 9.49 per cent in July over that of the previous month of the current calendar year.

The settlement of LCs, known as actual imports, dropped by 9.27 per cent during the period under review over the previous month of this year, according to the central bank statistics.

The LCs for import worth $2.526 billion were opened in July last compared to $2.791 billion in previous month of June while the LCs against imports worth $1.753 billion were settled in July 2010 against $1.932 billion in June last, the BB's data revealed.

Bangladeshis working abroad remitted over US$ 957 million last month owing largely to the forthcoming Eid-ul Fitr festival, officials said Monday.

The remittances from Bangladeshi nationals working abroad were estimated at $957.93 million last month, up by $100.62 million compared to previous month. In July last the remittances stood at $857.31 million.

Besides, the central bank continues to intervene in the inter-bank foreign exchange market through purchase of the US dollar directly from commercial banks, which has also pushed the foreign exchange reserve up.

A total of $200.50 million has been bought from the commercial banks, so far, in the current fiscal year as part of the central bank's intervention in the market, the BB officials confirmed.

In fiscal 2009-10, the central bank bought a total of $2.16 billion directly from the commercial banks against $1.48 billion of the previous fiscal, the BB's data showed.

 

[akash57]

WB plans 'highest-ever' aid for Bangladesh

Dhaka, Sep 15 (bdnews24.com)—The World Bank plans its highest ever financial support of $6.1 billion for Bangladesh over the next four fiscals.

The multilateral lending agency made the proposal at the launch of its Country Assistance Strategy for Bangladesh on Wednesday at a city hotel.

The strategy focuses on four key areas: increasing investments to accelerate growth, reducing vulnerability to climate change and natural disasters, improving social services delivery and strengthening accountability and inclusion.

Finance minister AMA Muhith attended the ceremony as chief guest.

The strategy seems to be formulated around the government's priorities and programmes, he told the audience.

"We are particularly pleased to see the World Bank supporting high priority projects like the Padma bridge and power generation."

The Country Assistance Strategy (CAS) will contribute to the country's objective to graduate to a mid-income state by 2021 through support for accelerated, sustainable and inclusive growth coupled with stronger governance, says a WB release.

The latest CAS, one after 2006, proposes to lend about $1 billion in the country's crumbling power sector in addition with its on-going $800 million projects.

"We will work with the government on long-term projects in the power and gas sectors," the Bank's country director Ellen Goldstein.

The WB will first scale-up its existing successful programs which include investments to promote independent and private-owned power plants, extend the rural electrification grid and expand use of solar energy, according to the WB official.

The bank and the government will monitor progress jointly and promote third party monitoring to strengthen accountability at the community level, reads the strategy paper.

It also says that WB will work to strengthen the country's capacity to manage for
results.

To increase aid effectiveness the WB along with the government and other stakeholders will formulate a National Development Results Framework linking to the upcoming Five Year Plan.

The framework would be used as a tool to perk up external resource mobilization for development projects, according to the strategy paper.

WB plans 'highest-ever' aid for Bangladesh | Bangladesh | bdnews24.com

 

[akash57]

BD has immense trade, business potential in West Africa

Bangladesh sees immense trade and business potential in West Africa, as an official delegation led by Foreign Secretary Mijarul Quayes concluded its exploratory mission to Ghana, Liberia, Senegal and Ivory Coast, reports UNB.

During the four-nation visit from August 25 to September 1, the delegation talked to government leaders, officials and chamber leaders of those countries and exchanged views on how to initiate cooperation in the promising sectors for mutual benefit.

They discussed cooperation in agricultural production, food processing and contract farming, joint venture in RMG sector and exporting pharmaceuticals at competitive price.

Currently, Bangladesh exports medicines to 72 countries in Europe, America and Africa.

"We got tremendous response," Quayes told a press briefing on the outcome of his visit at the foreign ministry Wednesday.

Citing an example, he said a Liberian senator offered to give her vast land for agricultural farming, which could be a beginning of cooperation.

Under contract farming scheme, the senator sought cooperation from Bangladesh to diversify the agriculture for producing rice, cotton, cocoa, rubber, cashew nut and coffee to initiate pilot projects.

However, the bilateral trade with these West African countries has so far remained insignificant. According to statistics, in 2009-10, Bangladesh's export to Ghana was US$ 1.462 million, Liberia $1.346 million, Senegal $0.883 million and Ivory Coast $0.199 million.

The main export products include medicine, fruit juice, jute goods and engineering products.

The foreign secretary said as the first step the government might appoint honorary consuls to establish physical linkage between Bangladesh and the four West African countries, which remained untapped.

The delegation invited business teams from those countries to attend the Dhaka International Trade Fair to be held in the city next January. Thereafter, Bangladesh business delegation may be dispatched to those countries to explore further trade and investment.

Quayes said they are also contemplating signing memoranda of understanding (MoU) with those countries by the end of this year to start Foreign Office consultations, which may be followed by trade agreement and agreements on protection of investment and avoidance of double taxation.

BD has immense trade, business potential in West Africa

 

[akash57]

All industries to have trade unions gradually: Faruk

Commerce Minister Muhammad Faruk Khan Wednesday said the government would not tolerate any vandalism in industrial sector, particularly in the garments industries.

"The government has done its best to increase the RMG workers' minimum wage up to 80 per cent, and it reflects the government's intention to ensure their well being. We have made this extraordinary pay-raise just after three years, which was due to be done after five years," the minister said.

"But we would not allow any vandalism in industrial sector," he added.

The commerce minister was addressing as the chief guest at a seminar on Bangladesh-USA Trade Relations, organised by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) at a city hotel.

Chaired by FBCCI president A K Azad, US Ambassador to Bangladesh James F Moriarty attended the seminar as the guest of honour, accompanied by a number of government officials and business leaders.

Expressing the government's support in forming trade union, particularly in the troublesome garments industries, Mr Khan asked all industry owners for its gradual implementation in their factories.

"Ultimately trade unions will be formed in every industry, but all their functionaries including demands have to be according to the rules of the law," he said.

"We would like to assure our product buyers, including USA, that the workers' welfare would never be compromised or neglected in our industries," he added.

About the ongoing shortage of power in the country, the commerce minister assured improved power situation by the end of this year and a notable change by the end of 2011.

"The government is keen to increase export by taking advantage of the fast recovery of global economy from recession. USA is our prime focus, as we see a bright prospect in that particular market," he said.

He also thanked the FBCCI for organising the seminar, and called it a 'timely initiative.'

Speaking on the occasion US Ambassador James F Moriarty pointed out two major constrains for American investment in Bangladesh - energy crisis and workers' unrest.

"The US is very much concerned over the latest workers' unrest in the country's RMG sector that might hinder US investments as well as continuing the growth of imports from Bangladeshi."

He also said the government needs to ensure moderate work environment in the industries.

Indicating towards the 243 per cent growth rate recorded in

US-Bangladesh trade relationship during the last 15 years the he called it 'impressive.'

"The bilateral trade between the two countries is neither too bad nor it's the best that could be done," he said, adding that he sees a wide range of opportunities to thrive.

US investments see Bangladesh as one of the available alternatives. It is the responsibility of the government to lure those investments by offering exciting facilities, the ambassador said.

All industries to have trade unions gradually: Faruk

 

[eastwatch]

Car import down due to duty hike

CAR IMPORT DOWN DUE TO DUTY HIKE
Jasim Uddin Haroon

The number of vehicles imported in fiscal 2009-10 dropped to 36,906 from nearly 37,750 in the previous year due mainly to imposition of higher duties, according to official data.

The government raised supplementary duty in the year by 25 per cent on import of vehicles below 2000 CC and 50 percent for engine capacity above the level.

During 2009-10, importers procured 34,338 reconditioned cars and 2,568 new motorised vehicles, according to Chittagong and Mongla port statistics.

Importers bring in cars mainly through Chittagong port. The government has allowed import of cars through Mongla port since March 2008.

The statistics also showed car traders had imported 35,306 reconditioned cars and 2,442 new vehicles in 2008-09.

Habib Ullah Dawn, President of Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA), told the FE: "The car import had dropped by nearly 3.0 per cent in the last fiscal year (2009-10) over that of 2008-09 due mainly to imposition of higher duties by the government."

Mr Dawn also said: "Car prices rose by around Tk 250,000 on an average due to duties levied in 2009-10,"

BARVIDA, a group of nearly 500 auto traders, said the government also imposed higher duties on car import in 2010-11 fiscal affecting the old car business to a great extent.

He hinted that the car import and sales would also drop sharply in 2010-11.

Currently, car prices, especially of those with more than 1500 CC engine capacity, have increased by around Tk 500,000 each on an average following duty hike in 2009-10 and 2010-11.

Car sales were boosted in the country in recent years mainly by a surge in bank finance and the buying spree by emerging upper middle class in Dhaka, Chittagong and Sylhet cities.

Traders said car business has been depressed over the past few months due to imposition of higher duties in the current fiscal year.

"Our sales dropped in 2010 fiscal as the prices of new vehicles increased following slapping of higher duties on the old cars," Abdul Hamid Sharif, president of Bangladesh Auto Traders Association, told the FE.

In fiscal 2007-2008, some 23,000 cars were sold in the country. Of these, around 80 per cent were in the capital, sources at the BARVIDA said.

However, under new import policy, traders could import up to five years old cars. It was six years previously.

 

[Skies]

Bangladesh eyes trade, farming in west Africa

Thu, 16/09/2010 - 10:27am | by priyo.news
Bangladesh plans to open a new front in agricultural production and trade in west African countries, which have vast fertile and fallow land and import almost all commodities.

Foreign Secretary Mijarul Quayes, who led a five-member fact-finding mission to four West African countries -- Ghana, Ivory Coast, Liberia and Senegal -- from August 24 to September 2, said this at a media briefing at his office yesterday.

This was the first of a series of visits that Bangladesh has planned to West Africa, Southern Africa and Latin America as part of its target to strengthen South-South cooperation, he said.

The delegation talked to ministers, bureaucrats and business leaders and found huge potentials for farming, fruit processing and establishing joint ventures in textiles, exporting ready-made garments, medicine and venturing into many other sectors.

"We got tremendous response from them. They are very interested in getting our expertise in agriculture," said Mijarul Quayes, adding, they are still dependent on rainwater for rice cultivation once a year.

Businesses could go to those countries with agriculturists and farmers, lease land at cheap rates and apply the modern farming technologies to cultivate rice round the year like Bangladeshi farmers.

"We asked them if we could do contract farming. They said there could be pilot projects and then it might gradually expand," the foreign secretary said.

A Liberian congressman has offered to take Bangladeshi experts to his own area to produce rice, rubber, coffee, cashew nuts and so on, he said. "This could be the beginning of our cooperation."

Besides, those countries grow abundant fruits, but nobody produces juice out of it. Investors from Bangladesh could easily take advantage of setting up fruit processing industries there, he continued.

The West African countries grow a lot of cotton but are not that competitive in the market. Investors from Bangladesh could also set up backward linkage industries that could immensely help the country's ready-made garment industry, Quayes told the newspersons.

"They literally import everything," he said, adding that Bangladesh could export many products like pharmaceuticals and clothes to those countries. Bangladesh exports some products including medicine, fruit juice and jute goods, but the amount is insignificant and not persistent, he observed.

According to statistics of the Export Promotion Bureau, Bangladesh's export to Ghana was $1,462,000, $1,346,000 to Liberia, $883,000 to Senegal and $199,000 to Ivory Coast in 2009-10.

African countries could be Bangladesh's market, he said.

"They asked what they could export and we have invited them to the Dhaka International Trade Fair next year. We can have soon more dialogues, engage our business leaders and entrepreneurs for expanding trade," Quayes said.

He added those countries have admiration for Bangladesh because they have seen Bangladeshi peacekeepers, fruit juice products and social activities by Brac.

They are also interested to hire doctors, engineers, healthcare experts for their capacity building, Quayes said.

The foreign secretary said as the first step the government might appoint honorary consuls to establish physical linkages with the West African countries and then sign memorandums of understanding for foreign office consultations.

Gradually, trade deals could be signed, he noted.

Prime Minister's Personal Secretary Nazrul Islam Khan, EPB Director General Rakhal Chandra Barman, Director General of Foreign Ministry (Africa) Wahidur Rahman, Managing Director of Bangladesh Oversees Employment Services Limited (BOESL) Mohammad Abdullah were the other delegates.

-Daily Star


Comments
by Khaja Baba | Thu, 16/09/2010 - 6:04pm

Not only in West Africa but also in East Africa, huge fertile lands are just laid idle, specially, in Ethiopia, Uganda, Tanzania, Malawi and Mozambique. Indian entrepreneurs have already taken hundreds of thousands of acres land lease in all those countries and doing well with agriculture. Rice, ground nuts, sugar canes, different types of lentils, tea and flower are the main cash crops they produce. However, rubber, banana, pineapple, orange, potato, sorghum and millet can also grow very well in this region as per the nature of the soil, rain and climate.

So, it is really good news that Bangladesh government has taken this good step for extending our agriculture businesses in Africa. Thousands of Bangladeshi workers can also get their jobs in Africa if such endeavours are taken. We wish that this drive would be successful and sustainable.

As far I know BRAC is already working in Tanzania, Liberia, Sierra Leone and Uganda. Perhaps, our government can also share the learning of BRAC in these countries and take better decisions.

 

[TopCat]

One of my friend's uncle made fortune in Zimbabwe in 1970-80's farming flowers. First he gone to Germany but had to leave due to extreme cold which he could not bear. Instead he settled in Zimbabwe and bought the firm from a English man. He bought his chartered plane only to carry flowers to France from his firm in Zimbabwe. Now he is a industrialist owning few Jute mills and textile mills in Bangladesh.

 

[eastwatch]

Yield high yet rice pricey

Sunday, September 19, 2010
Yield High Yet Rice Pricey
Porimol Palma

Prices have doubled in a year; hike of food grains in int'l market seen as reason. Prices of rice have increased up to 50 percent than that of last year's despite a bumper boro production of 1.83 crore metric tonnes this season.

According to Trading Corporation of Bangladesh (TCB), medium quality rice now sells at Tk 34-37 a kilogram, which was Tk 24-26 last year while fine rice varieties at Tk 34-47 against last year's Tk 25-42 per kg.

Prices of coarse rice varieties now range between Tk 31 and 32 a kg, up from last year's Tk 20-22, added the TCB survey till September.

Economists say it is because of the price hike of food grains in international market.

Some also think that rice millers and traders are controlling the domestic market, as the government has only achieved half the procurement target of 12-lakh metric tonnes of rice this season.

Brac Executive Director Mahabub Hossain said rice prices in international market are around $500 per metric tonne, which was $450-$460 in June-July. "This is affecting the local market," he added.

Quazi Shahabuddin, former director general of Bangladesh Institute of Development Studies (BIDS), said the government had previously fixed Tk 25 to procure per kg of boro rice, but on July 1, it increased the price to Tk 28 a kg in the face of the mounting pressure from millers.

"That decision actually contributed to recent hikes in rice price in the local market," he observed.

According to KM Layek Ali, convener of Bangladesh Auto, Major and Husking Mill Owners' Association, the rice prices spiralled this season, as the total boro production was around 5-10 lakh metric tonnes less than the reported 1.83 crore metric tonnes.

"The government estimated 39 kg of rice from every 60 kg of hybrid paddy but actually it got 38 kg," said Layek Ali, adding that this season boro was cultivated on 7-lakh hectares of land across the country.

In a year, price of flour (atta) has increased from Tk 24-26 to Tk 28-31 while refined flour (maida) witnessed a price hike by 16 percent, said the TCB survey.

Importers and officials said wheat price in the international market is now around $350 per metric tonne, which was $220 in June.

The drought in Russia might have caused the rise in flour price, said economists, adding that Bangladesh is affected by the hike as it imports 30 lakh metric tonnes of wheat against a demand of 40 lakh metric tonnes.

Brac Executive Director Mahabub Hossain thinks prices of rice and flour in local markets are still not alarming, as the income of farm labourers and other sectors increased significantly over the years.

He, however, said this hike might affect the low-income textile workers.

A farm worker's daily wage is now Tk 150-200 while a textile worker earns Tk 100 compared to that, said Mahabub Hossain, apprehending that the hike might slam down the low-income people if the government fails to strengthen food stock.

Director General of Food Directorate Ahmad Hossain Khan said the country has a food stock of over 7 lakh metric tonnes and import of an equal amount of food grains is on the cards.

Besides, the government would increase rice supply for open market sales (OMS) to make rice available at Tk 24 a kg, which would contribute in stabilising the market, he said.

According to Mahabub Hossain any price hike appears more in percentage figures but it does not reflect the exact situation. For instance, hike in rice price appears so much as the price was low after last year's boro harvest, he added.

Hossain said with this hike not many low-income people were found complaining. Neither did they crowd at OMS centres for low-priced rice during the Ramadan, which testifies to people's increasing income.

"A food stock of 15 lakh metric tonnes is a must to have an impact on the local market," said the researcher.

Meanwhile, prices of edible oil have been hiked up by 26 percent in a year, garlic and turmeric up to 118 and 154 percent respectively while fish and meat by 90 percent.

However, prices of lentils decreased by 28 percent, potato by 55 percent while powdered milk and sugar by 15 and 16 percent respectively.

 

[eastwatch]

WB plans 'highest-ever' aid for Bangladesh

Dhaka, Sep 15 (bdnews24.com)—The World Bank plans its highest ever financial support of $6.1 billion for Bangladesh over the next four fiscals.

The big loan proves that BD has gained the trust of international financial institutions. If the loan is properly used it will strengthen our social and industrial infrastructures.

 

[TopCat]

The construction of the much-awaited Gulistan-Jatrabari Flyover in the city has been going on in full swing at its Jatrabari end Saturday. — FE photo

 

[eastwatch]

The construction of the much-awaited Gulistan-Jatrabari Flyover in the city has been going on in full swing at its Jatrabari end Saturday. — FE photo

Please refer to the 3rd picture. I am a little surprised to see the almost 90* curve in the higher level Jatrabari flyover. 90* curve is okay, but the "Radius of Curvature" must be larger than here the model shows. The location is tight for a larger radius, no doubt. But, the curve should be re-designed with, say, a 500m radius. I have assumed this radius only to make a point.

In case of R=500m, the piers will certainly fall on top of the lower bridge. So, the entire layout needs re-designing. The present radius is a sure recipe for continuous accidents. It seems to be no more than 200m. So, you better tell your BUET seniors working for R&H to check the matter and rectify it.

You may yourself calculate the radius when the maximum speed is set at 60km per hour and the curve angle is, say, 95*. If the radius is small, then the superelevation, e, becomes very large, creating an unusual transverse slope at the curve.

 

[Al-zakir]

WB plans 'highest-ever' aid for Bangladesh

Dhaka, Sep 15 (bdnews24.com)—The World Bank plans its highest ever financial support of $6.1 billion for Bangladesh over the next four fiscals.

I have a serious problem with this word aid and donation partners that I hear in our head less media all the time. How is it aid? Is WB giving us this money as gift or merely a loan? I think our media has gone mad. They must differentiate between donation and loan. They must choose right word for right substance.