Bangladesh Economy: News & Updates

[mil-avia]

German firm receives 2 more ships

Jul 29th, 2011

Chittagong, July 29 (bdnews24.com) -- Two ice-class oceangoing vessels made by local firm Western Marine Shipyard have been handed over to their German importer.

Shipping minister Shahjahan Khan delivered them to Grona Shipping Limited of Germany at a programme at the marine workshop of Chittagong Port on Friday.

The minister also handed over pilot vessel 'PV Rakkhi' to Chittagong Port Authority and formally inaugurated ro-ro ferry 'Birshreshtha Mohammad Ruhul Amin' manufactured by the local firm.

Managing director of Grona Shipping, who earlier received four commercial ships from the same Bangladeshi firm, was given EMS Tide and EMS Wave by the minister.

The ferry was received by Bangladesh Inland Water Transport Corporation chairman Golam Mostafa Kamal, while the other by shipping secretary Abdul Mannan Hawlader.

Managing director of Western Marine Mohammad Sakhawat Hossain said the ships for Grona Shipping were built at a cost of Tk 1 billion each while the two others at Tk 420 million.

The ferry, capable of carrying 27 trucks and 370 passengers, would run on the Mawa-Char Janajat and Mawa-Madaripur routes, while 'PV Rakkhi' will be used as a transport vessel for the sailors and officials of ships anchored on the outer anchorage of the port.


Related news & photos in post # 1032

 

[Skies]

Bangladesh textile millers threaten to shut

Published August 21, 2011
| Reuters

DHAKA (Reuters) - Textile manufacturers in Bangladesh said they might be forced close their factories unless the government acts to provide more cash incentives and restrictions on imported yarn and fabrics from India.

"Without these measures we can not survive," said Jahangir Alamin, president of Bangladesh Textile Mills Association.

He told Reuters in an interview on Sunday that the manufacturing firms also can not utilize their capacity due to shortages of gas and electricity.

The government is considering these issues after meeting on Sunday, but no specific decisions were announced.

There are more than 1,300 primary textile manufacturing factories in Bangladesh's textile sector with a total investment of more than $4.0 billion, which help the country to save huge foreign exchange.

"Now we are able to supply up to 80 percent and 40 percent of fabrics for the export-oriented knit and woven industries respectively," Alamin said

Readymade garments are the principal export earner for Bangladesh, and also the biggest employer, after agriculture, in the country.

The textile mills could not use more than 35 percent of their production capacity due to a lack of electricity and gas supplies, Alamin said.

He added that business conditions deteriorated further due to relaxation of rules of origin by the European Union earlier in the year.

Bangladesh at present suffers daily shortages of up to 2,000 megawatts of electricity and 500 million cubic feet of gas due to demand that is growing much faster than output.

"Besides, we had to buy cotton at exorbitant prices from the international market during the March-April this year, but now the market rate of cotton has dropped to less than half of its procurement rate."

Purchasing cotton at high price caused the millers to incur substantial losses, to the extent that many factories became unable to continue production.

Alamin said that cotton-exporting India frequently changed its trade policies according to the state of demand but Bangladesh did not take any measure as such, that pushed its textile sector to an uneven competition.

"India has been giving cash support at the rate of over 25 percent in different stages to its textile sector," he said.

"Recently, India has declared 7.67 percent cash incentive on export of knit and woven fabrics and yarn, effective from April 1, 2011. The new measure has come as another severe blow for us," Alamin added.

The BTMA president said that due to an increasing trend of importing yarn and woven and knit fabrics at rates dictated by ups and downs in international cotton market, the local millers in Bangladesh are suffering.

"Local garment factory owners have been importing knit and woven fabrics from India at prices lower than our production cost, but the government did not take any initiative to check the import despite repeated requests," Alamin said.

"As a result, Bangladeshi millers have a stockpile of 2.5 million tons of unsold yarn, worth $121 million."

Bangladesh imported 278 million kgs of yarn and fabric in the first half of 2011, which is 25 percent higher than in the same period of last year, according to government and BTMA statistics.

(Reporting by Serajul Islam Quadir; Editing by Anis Ahmed and Hans-Juergen Peters)

Bangladesh Textile Millers Threaten To Shut | FoxBusiness.com

 

[Evil Flare]

Skies

But i thought BD was doing better . my own relatives are opening textiles factory there soon ..

 

[Al-zakir]

Skies

But i thought BD was doing better . my own relatives are opening textiles factory there soon ..

Like everything else, garments industries also dying under this Awami thug league. The main highway that carry the finish goods to port city has been destroy due to lack maintenance. They have done nothing but promote dead mujib and fulfilled Bhartis wishes for last 2.5 years. Their contribution to improve the qualities of life is so far zero, zip, nada, sifar.

I wish your relative good luck.

 

[Skies]

KIT digital Powers the Launch of Maasranga, Bangladesh's First Integrated Digital, HD and 3G-Enabled Broadcast Network

KIT Digital Inc
KITD | 8/23/2011 8:30:24 AM
NEW YORK, NY and PRAGUE, CZECH REPUBLIC, Aug 23, 2011 (MARKETWIRE via COMTEX News Network) --

KIT digital, Inc. (NASDAQ: KITD), a premium cloud-based software solutions and technology services provider for multi-screen video delivery, was selected by Maasranga, a part of the Bangladesh-based communications, IT and healthcare conglomerate, Square Group, to help it launch the first fully IP-based digital, HD and 3G-enabled rich media network in Bangladesh.

The project involves the green-field development of Maasranga's central infrastructure and studio facilities, which feature state-of-the art production and post-production capabilities and a fully automated, IP-based digital delivery workflow. By implementing the KIT Platform, KIT digital's broadband video head-end software-based solution, the network can more efficiently and cost-effectively produce, manage and deliver premium content to audiences anytime, anywhere.

"Maasranga made an ambitious commitment to deploy the most advanced broadcast technology, in keeping with Bangladesh's ongoing emergence, and through our partnership with KIT we are setting the groundwork to transition into multi-platform distribution over digital terrestrial, satellite, and IP networks, with single-point ingestion and asset management," said Syed Fahim Munaim, CEO of Maasranga. "In working with KIT digital, we are leapfrogging our competitors by incorporating integrated HD and OTT technologies into our multi-platform offering. This is an exciting time for the Bangladeshi broadcast market."

Maasranga Television, the group's brand new 24-7 news channel, will highlight the history, culture and ongoing development of Bangladesh in addition to airing topical financial, political and culture news. As the fastest growing zone in today's global economy, Asia is witnessing rapid technological progression in the field of digital media. The way people communicate, distribute and consume media is evolving as younger audiences and the new middle class embrace multi-screen content.

Maasranga TV went on air on July 30th with an hour-long inaugural broadcast ceremony held at the Radisson Water Garden Hotel in Dhaka, Bangladesh. The ceremony was hosted by Bangladesh's Information and Cultural Affairs Minister, Abul Kalam Azad, and the Chairman of Square Group, Samson H Chowdhury.

Ashish Mukherjee, senior vice president, Asia-Pacific, KIT digital, commented: "Maasranga will deliver the best in premium content through its various media platforms to its viewers across Bangladesh. Our partnership with Maasranga is enabling us to match the best in video technology with our specialized integration services to meet specific network needs. We are proud to be working with the Square Group in its advancement of the Bangladeshi media environment."

KIT digital staff have been on the ground in Dhaka over the last several months implementing the KIT Platform, integrating partners' hardware and software technologies and developing efficient ongoing workflow processes for internal Maasranga staff that will support the network for years to come. Project partners and their respective products include:

-- Grass Valley Aurora Production suite, K2 Media Servers with 48TB of
Storage, 12 Ediius Editing, 2x Kayak HD Vision Mixers, Maestro master
control, Trinix Router with Jupiter control panel and GeckoFlex
modular for the two Studios, PCRs and Mastercontrol room
-- Aveco Astra Automation and Media Asset Management
-- Octopus Newsroom Control System
-- WASP 3D On-air graphics
-- FrontPorch Diva for Archive and Storage
-- Panasonic P2 HD camera for Studios, ENG & EFP
-- HD DSNG from Advent for OB contribution
-- Trilogy Talkback Intercom Matrix
-- Autoscript Teleprompters


About KIT digital, Inc. KIT digital (NASDAQ: KITD) is a premium provider of end-to-end video management software and related services. The KIT Platform, the company's cloud-based video asset management system, enables enterprise, media & entertainment and network operator clients to produce, manage and deliver multi-screen socially-enabled video experiences to audiences wherever they are. KIT digital services more than 2,300 clients in 50+ countries, including some of the world's biggest brands, such as Airbus, The Associated Press, BBC, Best Buy, Bristol-Myers Squibb, Disney-ABC, FedEx, Google, HP, MTV, News Corp, Telecom Argentina, Telefonica, Universal Studios, Verizon, Vodafone and Volkswagen. KIT digital maintains executive offices in New York and its operational headquarters in Prague, Czech Republic, with offices in 21 countries around the world. Visit the company at KIT digital | Leading Provider of Video Asset Management Solutions or follow on Twitter at KIT digital, Inc. (@KITdigital) on Twitter.

KIT digital Contact: Adam Davis Global Communications Manager Tel. +1-609-468-9500 Email Contact KIT digital Investor Relations Contact: Matt Glover or Geoffrey Plank Liolios Group, Inc. Tel. +1-949-574-3860 Email Contact

SOURCE: KIT digital, Inc.

Marketwire - Contact Form Marketwire - Contact Form
Copyright 2011 Marketwire, Inc., All rights reserved.

 

[mil-avia]

The Bangladesh Post Office – an unexpected source of branchless banking innovation

by Chris Bold : Wednesday 31 August 2011

On a recent visit to Bangladesh Sarah Rotman and I met with Post Office Director General, Mobasherur Rahman, at his office in the middle of busy downtown Dhaka to hear about his foray into the world of branchless banking.

Rahman escorts us through winding corridors, deep into the heart of the Bangladesh Post Office headquarters, to a room unlike any other in the enormous building. Outside an innocuous looking door are about twenty pairs of shoes watched over by a small security camera. We were politely asked to remove our shoes and were shown into the room.

The Post Office now offers two branchless banking services. The longest established service, which was launched in March 2010, is the Electronic Money Transfer Service (EMTS) which allows customers to instantly send money from one branch to a friend or relative who can pick up the funds at 2,000 of the 10,000 post office branches. EMTS, it is envisaged, will soon replace the traditional money order. Post office staff use either a web interface, for those with internet connectivity, or a menu on a specially equipped mobile phone to key in information about the sender and receiver. There is also an option for a free text to be sent to the recipient notifying them of the transfer.

As we enter we are greeted by a blast of icy air from a room where the environment is carefully controlled – other post office staff have to brave the Dhaka heat and humidity with only the aid of a fan. In front of us is a small call center where half a dozen people are answering questions from post office staff and customers about the service. The other half of the room is taken up with huge server racks and we watch as transactions are processed, flashing up on the screen for a few seconds before the next transaction takes its place. Over two million transfers have now been carried out and the system now processes 14,000 transactions per day. As if to answer our questions about what happens in the event of a power cut, the lights momentarily dim and we hear a generator automatically start up in the background. The servers keep humming throughout and there is no let-up in the transactions popping up on the screen.

The other service that has been launched more recently is a Post Office Cash Card. The card looks like a bank ATM card and comes in a smart plastic wallet to protect it from the elements. The next day we visit one of the post offices in Dhaka to sign up for an account. The card does not bear the name of the holder, so you can sign up and walk out of the branch in the same day with your account active. It costs Tk45 (US $0.60) to open the account, or you can get a card with your name and picture for Tk110 (US $1.50) if you are willing to wait a few days for the card. The card allows you to safely store money and it is free to make deposits. Customers are charged 1% for withdrawals. The Post Office will be rolling out more POS devices to an increasing number of branches over the coming months.

Leaving the post office with our new cards in our wallets, we reflect on the reasons for the success of the services. One reason may have to do with incentives. In Bangladesh the Post Master in each branch is paid a commission for each transaction that is processed. Commissions are higher if the Post Master is required to use his or her own funds if the branch runs out of cash (they are paid back the following day from a regional office). This is in stark contrast to an initiative launched by the Pakistan Post Office in partnership with Mobile Network Operator Mobilink. In Pakistan no incentives were provided to staff who therefore had no motivation to learn a seemingly complex system and the service languished at small scale having processed less than 100 transactions when we last met with them.

Another reason for the success is almost certainly the personal commitment, vision and drive of Mobasherur Rahman. You can read more about his efforts to digitize the Bangladesh Post Office in Universal Postal Union magazine.

 

[Al-zakir]

Deep seaport of strategic importance to Bangladesh: China

Beijing ready to set up road, rail links with Dhaka thru Myanmar

Reported on: January 22, 2012 14:28 PM

Dhaka, Jan 22 (UNB) - China says Bangladesh’s proposed deep seaport in Sonadia Island is of strategic importance to the country and is helpful to become the regional transportation and logistic centre.

‘’So long Bangladesh side shows enough will and determination, this project can obtain positive progress very soon,’’ outgoing Chinese Ambassador Zhang Xianyi made the remarks in his pre-departure interview with UNB on Saturday.

During Prime Minister Sheikh Hasina’s visit to Beijing last year, Bangladesh sought the Chinese assistance to build the deep seaport.

The Ambassador said Chinese enterprises have advanced technologies, equipments and ample funds.

He said China Harbour Engineering Company Ltd., having rich experience in this sector, has set up its office in Dhaka and is ready to participate in this project in commercial manner.

Xianyi said Chinese enterprises are also ready to cooperate with enterprises from other countries to jointly take part in this project.

Asked about the much talked about tri-nation road and rail links, he said China stands ready to work together with Bangladesh and Myanmar to establish the road and railway links among the three countries at an earlier date.

“There are already several routes that connect China and Myanmar. For routes between Bangladesh and Myanmar, I hope Bangladesh can have more consultation with Myanmar to push this process forward.’’

The Ambassador said the Chinese side always attaches importance to the connectivity among China, Bangladesh and Myanmar.

“’We believe, this is conducive to the economic, cultural, people to people links, and to peace and stability of this region.’’

Asked about Chinese assistance in dredging of riverbeds in Bangladesh, Ambassador Xianyi said that against the backdrop of climate change, river dredging becomes even more important.

Each year, the Chinese government provides training to Bangladeshi officials and technicians, he said.

On September last year, he said China Harbour Engineering Company Ltd was selected to implement a project for Jamuna River dredging (14 kms).

Asked about the construction of the 7th and 8th Friendship Bridges, the ambassador said that the construction contract on the 7th China-Bangladesh Friendship Bridge at Kajirtek was signed on January 3 this year and the works will start very soon.

About the 8th Friendship Bridge, he said consultations are going on between the two countries and hopefully, there will be a positive result soon.

Asked about bilateral trade and economic cooperation, Xianyi said the two-way trade volume in the first 11 months of 2011 reached US$ 7.5 billion with an increase of 21.3 percent compared with the same period in 2010.

Bangladesh’s export to China reached US$ 400 million, an increase of 79.5 percent, while the Chinese investment in Bangladesh in 2011 amounted to more than US$ 200 million.

Ambassador Xianyi said Bangladesh and China signed agreements on introduction of 3G technology and expansion of 2.5G network as well as construction of Shahjalal Fertilizer Factory. The construction work will start very soon.


Besides, China exempted debts of Bangladesh worth more than 600 million RMB.

Asked about providing duty-free access to more Bangladesh products, the Ambassador said that since July 1, 2010, China began offering zero tariff treatment to 4,762 Bangladesh products, covering 70 percent of Bangladesh exports to China.

As a result, he said Bangladesh’s export to China has increased by 91 percent in 2010 and 79.5 percent in 2011.

“As next step, China will increase this ratio to 97 percent,’’ he said, adding Bangladeshi businesses can make full use of widely open Chinese market and increase their exports to China.

Replying to a question about easing visa regime for Bangladeshi businessmen and tourists, Xianyi said the Chinese embassy has already eased the visa procedure for Bangladeshi business community.

In 2011, the Embassy of China issued visas to more than 20,000 Bangladesh citizens

UNBconnect... - Deep seaport of strategic importance to Bangladesh: China

 

[Al-zakir]

Probably not gonna happen so long Bharti stooge Awami in power but I am very much optimistic that soon there will be
patriotic-nationalist government in place, then Bangladesh-China relation should reach new height. Must reach new height.

 

[monitor]

Motorbike industry on rapid growth

After achieving 35 percent rise in sales last year, the country’s motorcycle manufacturers are expecting that the industry will maintain a rapid growth in the next five years provided with prudent policy support, reports BSS.
The industry posted 25 percent growth in the last five years, which gave the motorbike manufacturers strong footing to maintain the growth at least at the already achieved level in the next five years, believe the industry people.
They, however, sought prudent policy support from the government, which would ensure adequate finance, uninterrupted power and gas supply and other utility facilities for steady development of this sector.
The observations were made today at meeting in the city, organised by the International Business Forum of Bangladesh (IBFB) on developing a Policy Guideline for Motorcycle Manufacturing Industry in Bangladesh.
Bangladesh Tariff Commission Chairman Dr. Md. Mozibur Rahman attended the meeting as the chief guest with IBFB president Mahmudul Islam Chowdhury in the chair.

Prof. Dr. M. Kamal Uddin of Bangladesh University of Engineering and Technology (BUET) made a keynote presentation on the issues.
NBR member (Custom) Shah Alam Khan, industries ministry additional secretary A B M Khurshed Alam, Runner Group chairman Hafiur Rahman Khan, Atlas Bangladesh managing director Masud Ahmed, Uttara Group of companies executive diector Kazi Imdad Hossain and TVS Auto Bangladesh general manager (Finance) Biplop Kumar Roy, among other, took part in the discussion.

Mozibur Rahman said lack of coordination among the industry insiders hinder the formulation of policy guideline for this sector.
He urged the manufacturers and assemblers to formulate a joint proposal that would help the government to take necessary measures to propel the growth of this sector.

At present, Walton Automobiles and Runner Automobiles are manufacturing motorcycle in the country. Besides, Rood Master Ltd., Japanese Honda with local Engineering Group and Indian Bajaj are going to be manufacturers soon.
The Taka 900 crore industry currently employs a total of five lakh people. The annual capacity of local motorbike manufacturing capacity is three lakh, of which Walton produces two lakh and another one lakh by Runner Automobiles.

The two local manufacturers expected to increase the production capacity to 6-7 lakh in the next five years.

http://www.newstoday.com.bd/index.ph...ate=2012-01-06

 

[CZAR]

I was a bit curious. Given the discussion about the economic landscape of BD, i was hoping that some of the members from BD could throw more light about the level of influence china has in BD's economy vis-a-vis india. Is the level of engagement higher with india due to the geographical and cultural context? Are chinese influences beginning to make an impact? And also about the perception and opinions of local commentators and masses about engaging with the two countries?

 

[ebr77]

Bangladesh enjoying heavy industry expansion, attracting Japan firms

TOKYO (Kyodo) -- Local companies in Bangladesh are aggressively diversifying into heavy machinery industries, offering a new window of opportunity for Japanese manufacturers in a promising Asian market with a population of some 160 million.

Topping the list of such firms is the Dhaka-based home electronics maker Walton High-Tech Industries Ltd., which is planning automobile production. The company, which started production in 2006 as the first domestic electronics manufacturer, said it hopes to begin making cars at its new plant next year.

Walton executives say they want to put three or four passenger car models on the market in the near future, possibly by tying up with some Japanese companies and gaining their technical support.

Walton is among the local companies rapidly expanding and growing into major exporters in Bangladesh, where the textile business has been the main industry and imported products have commanded large shares of the domestic market.

While grabbing a large market share in the domestic home appliance market with its low-priced products, Walton has expanded into motorcycle production.

Bangladesh has been seeing annual economic growth of around 6 percent in recent years and its government is seeking development of industrial clusters by setting up special economic zones.

Hoping to beat foreign rivals in establishing a presence in the promising market, a Japanese economic delegation led by the government-backed Japan External Trade Organization, known as JETRO, visited Bangladesh in February. Officials from about 40 Japanese companies including electronics and auto parts makers took part in the program, reflecting Japanese firms' growing interest in the country's cheap labor and economic growth.

Fast Retailing Co., which operates Uniqlo casual clothing stores in Japan and in some major cities abroad, is among the Japanese companies already operating in Bangladesh.

Some of the officials who visited the country cited concerns about lagging infrastructure development, but voiced hope for business potentials arising from gaining a foothold before more companies from around the world come into the market.

The head of JETRO's office in Bangladesh said the number of Japanese companies contacting the trade-promoting organization for information and advice about the Bangladesh market has doubled since around 2006.

Other rapidly growing industries in the country include shipbuilding. Propelled by technologies and business know-how brought by Bangladeshi-born engineers with overseas working experience, Western Marine Shipyard has been winning a series of orders from Europe and elsewhere for small vessels.

(Mainichi Japan) March 10, 2012

Bangladesh enjoying heavy industry expansion, attracting Japan firms - The Mainichi Daily News

 

[ebr77]

Declining import growth

Usually a decline in import, provided it is by choice and not enforced, is a sign of strength of an economy. A negative import growth, other conditions remaining normal, is indeed a cause for celebration. Right now Bangladesh is experiencing an overall decline in import growth including negative import growth in certain areas. Now the important thing is to see if it has been the result of a natural choice or a compulsion arising out of economic crunch. Credibility will be in question if there is any attempt to justify the shrinkage in the growth rate to 13.63 per cent in the first seven months of the current fiscal year (FY) from about 44.0 per cent during corresponding period of the previous FY as a normal process. True, reduced food import has had a positive impact on the import bill but it cannot explain the belt-tightening necessitated by credit crunch and the stricter regulations imposed on opening of letters of credit (LCs) by the Bangladesh Bank (BB).

With import orders showing a negative growth, the prospect of import payment further easing out is bright. Clearly the settlement of more import LCs valued at US$20.25 billion as against US$18.06 billion in the corresponding period of the previous fiscal only shows the carry-over impact of certain commodities of which capital machinery and raw materials for industries together have a large share. So far as import of raw materials is concerned, the trend is buoyant because most imported items are meant for the readymade garments sector which has happily recorded a significant growth. Sudden decrease in fresh LC opening for import of capital machinery does not augur well for the country because it is a clear indication of paucity of investment in the industrial and productive sector. This surely is a cause for serious concern. If fresh investment continues to dry up, it will slow down the rate of GDP (gross domestic product) growth. After all, the country is way behind reaching its saturated point of industrial growth.

Surely the import pattern looks fluid. Although the central bank has categorised essential and non-essential items for import with emphasis on priority or the lack of it, there is no knowing how the coordination needed for maintaining market stability is done. Disruptions of the supply lines can push up prices of commodities to unusual level. So strict market monitoring is essential. Price volatility here has caused enough bleeding, any further chaos in the market following a sudden drop in LC opening of certain commodities can make the matter worse. Fortunately, the fear of having an ill effect of a ban imposed on export of cotton by India has been removed due to the withdrawal of the same. Some gains in the value of Taka against dollar are yet to reflect on the economy of the country. Reduction in import has to be matched by domestic production as has happened in the areas of food. Only then the country's economic growth will stabilise at a reasonable level.

Declining import growth

 

[ebr77]

DOEL-maker to strike OEM deal with Microsoft
Telephone Shilpa Shangstha Ltd, a Bangladesh-German joint venture company, is all set to ink an original equipment manufacturer agreement with the Microsoft Corporation within a couple of months under which the TSS will be authorised to use the computer titan’s Windows line of operating systems in its DOEL laptops.
A Microsoft team in last month visited the TSS plants in Tongi, Gazipur, the company managing director, Abu Sayed Khan, told New Age last week.
‘Then, on Sunday, a group of legal and finance officials of the Microsoft Corporation held a teleconference with key TSS officials, especially those related to the company’s DOEL laptop project,’ the TSS chief executive officer said. He said, through the teleconference, the Microsoft experts had gleaned and gathered a comprehensive idea and knowledge about DOEL laptops, the laptop project and its aim and objectives, the extent of government support behind the TSS and its financial strength.
‘The Microsoft officials expressed their satisfaction about the outcome of the teleconference and said they would let us know when the proposed signing of an OEM agreement gets the final approval,’ Abu Sayed said.
He expects the deal to be struck within the next couple of months and said he was planning to invite Bill Gates, the ICT icon, to grace the agreement signing ceremony, if the Microsoft founder had the time.
‘The agreement will authorise us to use Microsoft operating systems and all Microsoft applications in our DOEL brand products, including laptops and netbooks, and also to sell Microsoft software, which will eradicate the use of pirated software in this country,’ the TSS chief said in a dreamy mood. ‘The agreement will be a milestone for the country.’
The TSS has already signed a non-disclosure agreement with the Microsoft Corporation, said TSS Plant and Commercial general manager AA Mohammmad Moyashir. ‘The agreement makes it a corporate taboo for both the companies to disclose any information about any of the processes of business of the other side to any third party,’ he told New Age in hushed whispers.
Explaining the best advantage that Bangladeshi consumers would get once the OEM agreement is signed with the Microsoft, Doel Laptop Plant assistant engineer Muhammad Ferdous said, ‘The prices of Microsoft Windows operating systems and Microsoft Office software had been far beyond the capacity of the people of this country to afford. Under the OEM agreement, Microsoft will provide them that software for one-tenth of the actual prices.’
‘Ninety-five per cent consumers in Bangladesh use pirated software of Microsoft, which always wants to stop that crime,’ Ferdous said.

New Age | Newspaper

 

[ebr77]

I was a bit curious. Given the discussion about the economic landscape of BD, i was hoping that some of the members from BD could throw more light about the level of influence china has in BD's economy vis-a-vis india. Is the level of engagement higher with india due to the geographical and cultural context? Are chinese influences beginning to make an impact? And also about the perception and opinions of local commentators and masses about engaging with the two countries?

Dude honestly we are not at all interested to be under anybody's influence, be it China or India. We are basically building every industry from scratch--thanks to our visionary businessmen's. We aim to be the regional economic hub in S. Asia now. Providing good business deals, connectivity. A lot of things are in agenda, but it won't happen over night. Hope you get my point.

Bangladesh says ConocoPhillips seeking more gas blocks

(Reuters) - Bangladesh says U.S. energy firm ConocoPhillips (COP.N) is seeking to expand operations in the Bay of Bengal following a U.N. tribunal border ruling which cleared the way for more offshore oil and gas exploration in the region.

A senior energy official said on Sunday the U.S. company sought exploration rights in six new deep-water gas blocks in the Bay after a tribunal ruled last month in favor of Bangladesh in a decades-old maritime border dispute with Myanmar.

"The U.S. firm has expressed its willingness to get more blocks to explore oil and gas in the deep sea," said Muhammad Hussain Monsur, chairman of the state-run Bangladesh Oil, Gas and Mineral Corporation known as Petrobangla.

ConocoPhillips made no comment.

ConocoPhillips, which was awarded two deep-sea blocks by Bangladesh four years ago to explore oil and gas, has already completed seismic surveys in those blocks and is hoping to proceed with exploration work soon.

Neighboring Myanmar had previously protested against Bangladesh awarding the offshore blocks to explore gas and oil, claiming they overlapped Yangon's territorial waters.

"ConocoPhillips is now able to operate within the full area of DS-08-11 block as the maritime boundary dispute with Myanmar has been ended," Monsur said.

ConocoPhillips pledged to invest $110.66 million and offered a bank guarantee of the same amount for its two approved deep-water offshore blocks.

(Reporting By Serajul Quadir; Editing by Anis Ahmed and Mike Nesbit)

Bangladesh says ConocoPhillips seeking more gas blocks | Reuters

 

[ebr77]

Bangladesh's BAPEX eyes 1st offshore oil

(Reuters) - State-run Bangladesh Petroleum Exploration and Production Company Ltd (BAPEX) hopes to launch its first offshore oil and gas exploration venture in July, its managing director said on Saturday.

The firm will bid in tenders for blocks in the Bay of Bengal in conjunction with a major international company, Mortuza Ahmed Faruque said, without naming the firm or indicating the likely value of the contracts.

Bidding for eight shallow-water oil and gas blocks is likely be held by the end of July, a government official said.

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BAPEX currently produces 80 million cubic feet of gas per day from four onshore fields.

It runs a joint venture with Canada's Niko Resources and holds 10 percent stakes in onshore blocks operated by U.S. oil firm Chevron, Ireland's Tullow L> and Australia's Santos.

BAPEX is also in talks with China's state-owned Sinopec Shengli to develop four onshore gas fields in Bangladesh's Chittagong hills.

(Reporting By Serajul Quadir; Editing by Anis Ahmed, John Stonestreet)
Bangladesh's BAPEX eyes 1st offshore oil and gas venture | Reuters

Global woes drag on Bangladesh exports

DHAKA, April 8 | Sun Apr 8, 2012 6:15am EDT
(Reuters) - Bangladesh's exports in March fell 7.23 percent to $1.98 billion from a year earlier as a frail global economy bit its overseas sales, the country's Exports Promotion Bureau said on Sunday.

However, business leaders expect the pace of growth to pick up from May driven by readymade garments orders from western buyers but said the country is unlikely to achieve its 2011-12 exports target of $26.5 billion, a rise of 15 percent from the previous fiscal year.

Exports for July-March, the first nine months of the 2011-12 financial year, were up 10.36 percent to $17.88 billion, still 6.15 percent short of the target.

"Export will pick up from May and will continue to grow as more orders are coming from key western buyers," said Anwar-ul Alam Chowdhury, former president of Bangladesh Garment Manufacturers and Exporters Association.

And orders for basic garments would continue to shift to Bangladesh from China, where costs are rising, he said.

Earnings from readymade garments in July-March rose 12 percent from the same period the previous year to $14 billion.

Exports surged 41.5 percent in the 2010-11 fiscal year to a record $23 billion, boosted by clothing sales after a dramatic shift in China's orders to the lower-cost South Asian country. Bangladesh's low labour costs have helped it join the global supply chain for clothing.

Garment export is one of the key drivers of the country's more than $100 billion economy, along with remittances from Bangladeshis working overseas. (Reporting by Ruma Paul; Editing by Anis Ahmed)

Global woes drag on Bangladesh exports | Reuters