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DA 6238 Vol 2, No 12
www.dhakatribune.com
SECOND EDITION
11 | BANKING ON REFORM
Industry
$0.154bn $0.042bn
Agriculture
m b Go erg 6. vt
5.4%
3 5% % 7% 6% 5.
P AD W
REVISED GROWTH
2%
8%
7.
5.
F6
5.
6.
Go vt
oo
AD
IM
July-2013
July-2014
Bl
July-2015
INSIDE
Business
B1 Fiscal risks are rising in Bangladesh as a new report released yesterday raised the concern.
5.
News
4 When he first joined public service in 2010 as an ad hoc assistant surgeon, Dr Abdus Salam was told that the PM had directed the health ministry to regularise thousands of ad hoc doctors for meeting the huge shortage of doctors.
4%
Nation
6 Cracks have developed at a government-run tourist motel in Coxs Bazar. According to sources, cracks have developed in large parts of the ceiling in Motel Shoibal, posing a security threat to tourists visiting the largest beach in the world.
Entertainment
12 Ananta Jalil and Barsha won the Best Actor and Best Actress awards respectively in the 14th CJFB Performance Award 2012.
DHAKA TRIBUNE
News
The study found that local MPs assert their influence over many development projects and local leaders use council funds for personal expenditure. They spend around Tk150 200 from the fund daily just on tea, and illegally occupy council property
The local government has not specified the extent of power of the administrators, speakers observed. Sharmin said the administrators have to depend on government aid for implementing any development project because of limited funds. On top of that, the lack of coordination between the chief executive officer and the administrators is a major reason for the inefficiency of the district councils, she added. TIB officials suggested an increase in council funds to lessen dependency on the government and fair distribution of work among administrators. They also recommended monthly meetings with local governments in order to form an active council. l
People risk their lives as they climb through iron bars on the central reservation in front of the capitals New Market yesterday. Hundreds of people cross the road by jaywalking like this MAHMUD HOSSAIN OPU every day, ignoring two footbridges on the road
be deployed at the conference venue, which is located near the CMP headquarters, Chittagong Court Building and deputy commissioners office, for security reason and to evade any kind of untoward incidence. Azizul Haq Islamabadi, organising secretary of the Hefazate Islam, said: If the administration harasses us the government has to face a wave of movement. We will hold peaceful programme but if we are obstructed we know how to answer that. A high official of the CMP seeking anonymity said it was risky to allow the Hefazat to hold rally near so many important points of the city. Banaz Kumar Majumder, additional commissioner (crime and operation) of the CMP, said the CMP allowed the Hefazat to hold its programme on some conditions. l
matter, which made Nazim more desperate. He kept following her everywhere and calling her on her mobile phone. The family filed three cases with Dhanmondi police station and several GDs with Kolabagan police station against Nazim. Meanwhile, Sadia got married, but Nazim would not stop. On Monday, Nazim went to Sadias Dhanmondi residence with some associates and started hurling abuse. Nazim threatened with killing if Sadia had not accepted his proposal. When police arrived at the scene along with Sadbin and a few relatives Nazim left. Sadbin, son of Dhaka district Awami League Publicity Secretary Kazi Shawkat Hossain, later went to have tea behind the LabAid Hospital. Criminals shot him dead on his way back home from Sadias house around 12.45am on Tuesday. l
Dhaka Education Board, last night told the Dhaka tribune: The English second paper examination of Dhaka board has been postponed for an unavoidable reason. The new schedule will be fixed later. The decision was made at an emergency meeting of the authorities last night. The HSC and equivalent examinations began across the country on April 3. Some examinees and parents told the Dhaka Tribune that they had got question papers of all the three previous exams through mobile messages, a day before the scheduled dates. All the questions also matched with the main question papers. Seeking not to be named, a candidate said: I got all the three [Bangla first and second papers, and English first paper]. A friend of mine gave me those questions through SMS. I also sent the questions to my other close friends. Yesterday, the Dhaka Tribune also received an SMS. The questions were written in short form. But Taslima Begum denied the allegation. She said: We also heard about the leak during the previous examinations, but we did not find any proof. l
production and distribution chains suffered prolonged disruptions. The report, however, said Bangladesh has a great potential to bounce back, but the key challenges for accelerating growth are maintaining stability and resolving the remaining political uncertainties while boosting investment in power and roads, managing well the transition in the readymade garment industry and stemming the decline in remittances. The World Bank report also said the opposition parties enforced 85 days of nationwide general strikes and blockades since January 2013, of which 45 days were in July-January, FY14. Unlike in the past, this time the political agitations were not only limited to Dhaka and a few major cities. The disruptions lasted long enough to make it impossible for firms and workers to make up all the losses suffered. Although many businesses worked weekends and nights to make up the loss of working days, but there
were just too many days lost to be fully made up. Considering a huge damage to the economy due to political unrest, the World Bank estimated that the industrial sectors growth is projected at 7.9% compared with last years 9%. It said service sector that accounts for more than 54% of GDP suffered most due to the nationwide strikes and blockades with an enormous loss of income for a couple of months. Against this backdrop, the sector which was expected to surpass last years performance by a significant margin is projected to grow at 5.3% in FY14, the report said. Inflation The World Bank report said average headline inflation may rise to 7.5% this year. Cost push from supply disruptions and demand pull from expected wage increases are likely to have driven up the non-food prices, said Hussain. External balance About the external balances, the re-
port said the external balances have remained comfortable due to strong and weak imports which more than offset the decline in the level of workers remittances. But Bangladeshs external balance may erode from the current comfortable level, but stability is likely to continue, said the lead economist. Remittances are expected to remain weak while imports are likely to pick up, leading to narrowing the current account surplus, these could lead to slower accumulation of foreign reserves during the rest of FY14, he said. Fiscal deficit About fiscal deficit, the report said even if the government cuts the ADP by Tk140-160bn, there still would be a need for some cuts in current outlays to keep the deficit within the original budget target. Absent such adjustments, the deficit could rise to 5.1% and domestic financing to 3.8% of GDP compared with the budget target of 4.6% and 2.9% respectively. l
As part of the two-finger test, a doctor would insert the index and the middle fingers inside the vagina of an alleged rape victim to find out whether her hymen is intact or not. The HC in that ruling also asked the government to prepare a comprehensive guideline within 90 days that would govern the way various parties treated a rape victim. The ministry however missed that deadline by about a month. Rita Das Roy, a member of the committee formed to outline the guide, told the Dhaka Tribune: It has been observed that rape victims are usually put under a horribly judgmental microscope from the moment they call up the cops. They are often subjected to judgmental attitudes by doctors and other staffs in the hospital. The new guidelines include that every hospital must ensure security for the victim until she is fit enough to filea case. It also makes it mandatory for hospitals to have designated rooms for ensuring privacy of the victim.
The 10-member committee was formed soon after the HC ruling. It is headed by an additional secretary of the health ministry. Other members include senior officials from the ministries of health, home, law and women and children affairs, health officials and human rights activists. The draft has already been placed before another health ministry committee, who are likely to approve it sometime soon. According to the draft that the Dhaka Tribune has accessed, authorities must arrange training sessions for sensitising doctors and other medical staffs about the protocols, the new guideline and how to examine/report rape cases. No third person must be present inside the room when a doctor is carrying out the medical tests. In the past, hospitals would examine victims only after getting first information reports (FIRs) from police. The new guideline nullifies that provision. It also says that managing witnesses is not the duty of the victim anymore. If
a case is filed, trial should be conducted in a gender sensitive atmosphere. It would also be mandatory for the forensic medical reports to state precisely the reasons for each conclusion drawn. Everything in the report should be explained in the manner and language that the patient can understand. Under the International Covenant on Economic, Social, and Cultural Rights 1966 and the UN Declaration of Basic Principles of Justice for Victims of Crime and Abuse of Power 1985, rape survivors are entitled to legal recourse that does not re-traumatise them or violate their physical or mental integrity and dignity. In 1979, the United Kingdom had to give up its policy to use virginity testing on women who said they were immigrating to marry their fiancs, who were already living in the country. Through a similar guideline, the Indian government last month prohibited the two-finger test and asked all hospitals to set up designated rooms for their forensic and medical examination. l
DHAKA TRIBUNE
News
3
BNP plans long march towards Teesta Barrage
n Mohammad Al-Masum Molla
The BNP is likely to hold a long-march towards the Teesta Barrage this month to press home demand for proper share of water from neighbour India. The decision was made in a meeting of the party standing committee at its chairpersons Gulshan office late last night. Meeting sources said BNP Chairperson Khaleda Zia, who chaired yesterdays meeting, had planned to visit some of the districts around the country. Senior leaders meanwhile would hold a series of meetings with the party activists and the public in every division in the months ahead.
Members of local bus owners association in Rajshahi force passengers to disembark three-wheelers known as bhotbhoti yesterday, claiming that brake-less human hauliers were frequently causing road accidents on the Rajshahi-Chapainawabganj highway DHAKA TRIBUNE
It was unlikely that Sadeque Hossain Khoka and Mirza Abbas would be at the helm of Dhaka city committee
For the time being, the party has decided not to go for any tough movement; rather push forward and announce some issue-based programmes. Seeking anonymity, a standing committee member told the Dhaka Tribune that the date for the long-march was yet to be finalised. He also said senior leaders would visit the districts to rejuvenate the grassroots and Khaleda Zia would hold meetings in some districts. The schedules for those meetings were not finalised either. Decision had been also made about announcing soon the Dhaka city unit committee of the party. It was unlikely that Convener Sadeque Hossain Khoka and Standing Committee Member Mirza Abbas would be at the helm of that committee, the senior leader said. Another standing committee member, also seeking anonymity, said Moudud Ahmed and Goyeshwar Chandra Roy got engaged in an altercation centring Roys recent comment that all the courts are confined in the Mujib coat. He said Moudud condemned Roy for making such a comment and also said such statements would hamper the process of getting bail for the detained leaders and activists of the party. l
The attorney general argued that the defence had forged the documents to save Sayedee
Mahbubey was assisted by Assistant Attorney General Bashir Ahmed during the hearing at the five-member Appellate Division bench headed by Chief Justice Md Muzammel Hossain. Refuting Sayedees alibi plea, the attorney general said the notorious razakar had undoubtedly stayed at Parerhat, Pirojpur during the 1971 Liberation War, according to the prosecution witnesses. Though the defence witnesses
Detained con artists are paraded in front of the media after the Detective Branch of police arrest them in a drive at the capitals Madhya Paikpara MAHMUD HOSSAIN OPU
DHAKA TRIBUNE
News
Authorities fail to regularise more than 4,000 doctors in over four years Dr Shahabuddin Khan, medical offin Moniruzzaman Uzzal cer of human resource unit of the Direc-
torate General of Health Services, said they submitted necessary documents of 2,152 doctors to health ministry in 2013. The ministry later forwarded 600 files to the PSC, who then recommended the regularisation of only 180-190 doctors. Dr Shahabuddin said: As far I know, the PSC does not have enough manpower to check the large number of documents quickly. Moreover it took more time as they scrutinised every detail of the documents. Several senior officials of the health ministry and directorate told the Dhaka Tribune that the sluggish pace of the PSCs verification process meant that it would take years for all ad hoc doctors to be recommended for regularisation. Dr Shah Newaz, director (administration) of the DGHS, told the Dhaka Tribune that the directorate could not do much to regularise the ad hoc doctors, as the final decision belonged to the PSC. However, personally I think the ad hoc doctors should be regularised as soon as possible, he added. Most of the ad hoc doctors passed from private medical colleges and belonged to rich and influential families. The doctors always try to evade rural postings as they were used to staying in villages l
Prime Minister Sheikh Hasina inspects different units of the Ahsania Mission Cancer and General Hospital following the facilitys inauguration yesterday
BSS
As per his wealth statement submitted to the Election Commission, he had Tk18 lakh in cash in 2008 which jumped to over Tk6.66 crore in 2013
ACC officials said he allegedly amassed wealth, including land property, in Patuakhali and Kuakata in the name of KR Fashion owned by him, but he did
DHAKA TRIBUNE
News
Students of Dhaka Universitys Institute of Fine Arts display their decorative items, made to be sold at fairs celebrating Pahela Baishakh, on the institute premises yesterday
SYED ZAKIR HOSSAIN
Customs seize 16 gold bars in Ctg airport, 1 held n Tarek Mahmud, Chittagong
Chittagong Customs authorities at Shah Amanat International Airport seized 16 gold bars yesterday morning and detained a Dubai-returned passenger for illegal possession of these bars. Moshiur Rahman Mandal, assistant commissioner (AC) of Chittagong Customs House in the airport, told the Dhaka Tribune that they seized the bars from Azizul Munir Mahfuz which were hidden in the passengers shoes; when they conducted the drive at a Bangladesh Biman flight after its landing at the airport around 10:30am in the morning. The seized bars weighed around 1.866 kg and their value is estimated at Tk80 lakh, he said adding that the seized bars were handed over to the Bangladesh Bank. The flight was returning from Dubai to Dhaka via Chittagong, said the customs official. Existing law allows a person to carry highest 200 gramsof goldfrom abroad paying necessary duties at the airport, said the AC. The customs sources said with this recovery around 1,700 gold bars worth about Tk84 crore were seized from the airport in more than 50 drives in the year 2014 while 686 gold bars worth Tk35.30 crore were seized from a total of 16 drives in 2013. l
On the fateful day, Sadhan had an altercation with Nitai over the issue around 10:00pm. At one stage, Nitai along with his wife, daughter and son attacked Sadhan and chopped him with sharp weapons indiscriminately, leaving him dead on the spot. Officer-in-charge of Puthia Police Station Abu Obaida said on information, police recovered the body and sent it to hospital morgue for an autopsy. l
A sugar mill was fined for not having an Effluent Treatment Plant (ETP) while four others for keeping the ETPs nonoperational
On April 6, the DoE slapped fine on SA Pulp and Paper Mills Limited and Samannaj Product, both owned by the business conglomerate, Tk25.5 lakh for operating without clearance certificate, not having Effluent Treatment Plant (ETP), and polluting the sea. l
THURSDAY, APRIL 10
TODAY SUN SETS 6:18PM
Dhaka Chittagong Rajshahi Rangpur Khulna Barisal Sylhet Coxs Bazar
DHAKA
n BSS
State Minister for Power,Energy and Mineral Resources Nasrul Hamid asked the officials concerned to prepare a roadmap for implementation of countrys renewable energy targets by 2020. During a meeting with Climate Parliament network of MPs, the minister said that he would soon take a decision to ensure the implementation of Sustainable and Renewable Energy Development Authority (SREDA). Sharing the concerns with Climate Parliament network of MPs about the delay in the implementation of SREDA, Hamid said that the ministry would take into consideration this roadmap to prepare the budget for SREDA and this should reflect in the national budget for fiscal 2014-15. The new Steering Committee of the Climate Parliament network of MPs consists of Tanvir Shakeel Joy and Saber Chowdhury (Advisors), Junaid Ahmed Palak and Abdullah Al-Islam Jacob (Patrons), Nahim Razzaq (Convener), Mahjabeen Moshad (Co-convener), Razee Fakhrul, Pir Mezba, Golam Farooq Prince, AKM Arusunal Chowdhury Duke. l
36.3C Rajshahi
Source: Accuweather/UNB
18.6C Srimangal
PRAYER TIMES
Fajar Sunrise Zohr Asr Magrib Esha 4:27am 5:41am 12:00am 3:28pm 6:17pm 7:33pm
Source: IslamicFinder.org
Flouting traffic rules, private cars are seen haphazardly parked in front of the citys New Market yesterday. The indiscriminate parking practice causes the busy street to clog up, resulting in long tailbacks MAHMUD HOSSAIN OPU
6
n Our Correspondent, Coxs Bazar
Cracks have developed at a government-run tourist motel in Coxs Bazar. According to sources, cracks have developed in large parts of the ceiling in Motel Shoibal, posing a security threat to tourists visiting the largest beach in the world. The establishment was constructed in 1973 along the Coxs Bazar beach under Bangladesh Parjatan Corporation, the governments tourism body. In 1983, Motel Shoibal and Probal, Upal and Laboni were constructed on 185 acres of land. The government had to incur losses every year. So the motels had been handed over to the private sector. In the past, repair works of these motels were limited to plastering and paints. No basic structural repairs were made.
DHAKA TRIBUNE
Nation
The establishment was constructed in 1973 along the Coxs Bazar beach under Bangladesh Parjatan Corporation
The motel manager Nurul Islam said the cracks were not serious. The pillars of the restaurant were in perfect condition, he said. Deputy Commissioner and Beach Management Committee chief Mohammad Ruhul Amin said he was not informed of the cracks. The engineer Syed Ullah visited the spot. l
Cracks have developed in the ceiling in Motel Shoibal, posing a security threat to tourists
DHAKA TRIBUNE
COMMON SERVICES DEPARTMENT-2 HEAD OFFICE MOTIJHEEL C/A, DHAKA, BANGLADESH. Website: www.bangladeshbank.org.bd
BANGLADESH BANK
06 07
Address of the Web Receiving Tender Document Name & Address of the Ofces Receiving Tender Security & Other Documentary Evidence. Last Date and Time for Submission of Tender Document through web. Last Date and Time for receiving Original Tender security and Tender Submission Letter. Date, Time and Place for Tender Opening
: :
08 09
10
All Tenders will be opened at Common Services Department-2 (6th oor of 30-stored Building), Bangladesh Bank, Head Ofce, Dhaka on 30-4-2014 at 3:15 PM (Intending Tenderers or their authorized representatives are allowed to attend the Tender Opening). Supply, installation, testing & commissioning of brand new Sound system for Jahangir Alam Conference Hall at 4th oor of Main building, Bangladesh Bank, Head Ofce, Dhaka to be completed on Package/Turn-Key job basis including 12(twelve)months full warranty obligations. 45(Forty Five)days from the date of issue of Contract Award. TK 30,000.00(Taka thirty thousand) only. i) The Tenderer shall submit tender and scanned copy of documentary evidence with Pdf. format through Bangladesh Bank Web site (e-Tendering) & must have valid e-mail address for participation through e-Tendering. ii) Original PO/BD/Bank Guarantee as Tender Security along with original Tender Submission letter (G-1 form) must reach at General Manager, Common Services Department-2, within stipulated date and time of TDS. iii) Tenderer should provide documentary evidence etc. (attested or original whichever necessary) when requested, failing which the Tender may be considered as non-responsive. iv) G-1 form should be completed and signed by the Authorized Signatory on the Letter-Head Pad, attached by scanning during submitting tender and original should be sent to General Manager, CSD-2 within scheduled time as per TDS. v) Furnishing of any false, misleading documents may result in rejection of tender and may lead to action under Rules 127 of PPR 2008/ Reg 12 of BBPR 2004. vi) Bangladesh Bank authority reserves the right to accept in full/in part or to reject any or all tenders without assigning any reason whatsoever.
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DHAKA TRIBUNE
Juris
7
JURIS QUOTE
There is but one law for all, namely, that law which governs all law, the law of our Creator, the law of humanity, justice, equity - the law of nature and of nations.
Irish statesman, author, and philosopher (1729179)
Edmund Burke
LAW CARTOON
BIG STOCK
n Abdullah Al Arif
rotection of the Rights of the Persons with Disabilities Act, 2013 was passed with a view to ensuring the rights and dignity of persons with disabilities. The newly enacted law will abolish the former Bangladesh Persons with Disability Welfare Act, 2001. The aim of the act is to guarantee the educational, physical and mental improvement of disabled persons and to support their participation in social and state activities by removing all sorts of discrimination. Bangladesh has enacted this legislation to comply with the United Nations Convention on the Rights of the Persons with Disabilities, of which Bangladesh is a party to.
According to the law, any person suffering from the following forms of disorders are considered as disabled: autism or autism spectrum disorders, physical disability, mental illness leading to disability, visual infirmity, speech impairment, intellectual disability, hearing infirmity, deaf-blindness, cerebral palsy, down syndrome, multiple disability, and other disabilities.
The national coordination committee for the protection of the rights of the disabled persons
A national coordination committee shall be formulated, it will be headed by the minister of ministry of social welfare and comprised of secretaries of various ministries. The primary function of the committee is to coordinate the activities undertaken by the government, constitutional and national non-government entities with a view to protecting the rights of the persons with disabilities.
The law stipulated 21 rights for the disabled persons. The disabled persons must get the national identity cards, and be listed in the voters roll. Even, they will be able to contest in the polls. The new law will help make the people with disabilities capable of contributing to the countrys development and welfare. According to the newly enacted law, another 19-member national executive committee, headed by the social welfare secretary, will work for national implementation of the law, and ensures the following rights:
To survive and grow in full Legal recognition in every sphere of life, and access to justice Right to inheritance Freedom of expression and opinion, and access to information To live in a society with parents, legitimate or legal guardian and children, and to have marital relations and to form families Accessibility To participate fully and effectively in social, economic and state activities according to the type of disability To attend every level of education and educational institutions either special or integrated, subject to the receipt of appropriate benefits To be employed in government and private institutions If disability occurs while in service, to continue in service, or to get appropriate rehabilitation To get a safe and healthy environment and protection from persecution Subject to availability, the highest quality of health services To have congenial environment for the convenience and reasonable accommodation in all areas including education and work To get appropriate service and rehabilitation to attain physical, mental and technical capacity in order to fully integrate in all aspects of the society To obtain safe housing and rehabilitation, as far as possible, for individuals with disabilities who are dependent on the parents and subsequently isolated from parents To participate in culture, entertainment, tourism, leisure and sporting activities According to the desire of hearing-impaired and speech-impaired persons, as far as possible, Bengali sign language to be accepted as the first language To have confidentiality of personal information To form self- supporting organisations and welfare associations To receive national identity cards, inclusion in the list of voters, to give vote and to participate in elections Any other rights prescribed by the government by notification in the official gazette
According to the law, five percent of the total number of seats in any public transport shall have to be reserved for persons with disabilities within the period specified by the government by notification in the official gazette. If the owner or the authority of any public transport contravenes this provision, or if any driver, supervisor or conductor does not help a disabled person to take a seat in the reserved seats, the registration of that public transport shall be cancelled upon investigation and recommendation by the committee.
No educational institution shall reject the application for admission of any person only because of the disability of such person despite having all other qualifications. If any educational institution breaches this provision and discriminates against any the disabled person, the agrieved may lodge a complaint to the concerned committee. If any such complain is received by the committee, the committee may take necessary measures against the head of the institute or the concerned authority after giving the head or the authority an opportunity to be heard.
To ensure accessibility for disabled persons in all public structures, Building Construction Act, 1952 and rules made thereunder shall be followed. After the commencement of this Act, necessary facilities have to be installed in all public structures for the disabled people to ascend, move and to make those easily accessible as soon and as much as possible. Here, public buildings mean all public and private buildings, parks, stations, ports, terminals and roads.
RIO SHUVO
NOTICE BOARD
and also your articles on any legal issues at: law@dhakatribune.com FR Tower, 8/c Panthapath, Shukrabad, Dhaka- 1207 Visit our website at: www.dhakatribune.com Join our Facebook community: https://www.facebook.com/DhakaTribune
Despite being qualified for a position, which is suitable for a disabled person according to the type of disability, no disabled person shall be deprived of or discriminated against in getting such position. If any question arises as to whether any position is suitable for any disabled person, the national coordination committee shall provide necessary instruction and the instruction provided by the national coordination committee shall be final.
Constitution of Bangladesh
This is another Android app on the Bangladesh constitution which has been developed with the aim to familiarise Bangladeshi citizens with the very document that treasures their rights and obligations. The app provides our future nation-builders with easy access to the nations constitution. Be it for academic purpose or just to browse through during a long commute, one may use this application to help them be more informed. Tech Volunteerism has developed this application which has a 4.4 star rating on Google Play. The size of the app is 629KB.
Bangladesh Constitution
The Bangladesh Constitution app in Bengali provides an easily searchable and readable format which contains all the essential parts of the constitution. It will enrich the peoples knowledge of their nations laws. It ensures that a majority of the countrys citizens know the constitution. With this knowledge, we can intelligently hold our leaders accountable for the violation of our constitutional rights. The Constitution provides the legal foundation for the existence of Bangladesh, sets out the rights and duties of its citizens, and defines the structure of the government, and many more. This app is developed by MCC Ltd and has a 4.3 star rating on Google Play. The size of the app is 2.1MB.
DHAKA TRIBUNE
World
Pro-Russian activists stand near a barricade set in front of regional state administrative building in eastern Ukrainian city of Donetsk. Ukraine was threatened with disintegration on Tuesday as pro-Kremlin militants seized government buildings in the eastern city of Donetsk, declared independence and vowed to vote on joining Russia AFP
For the minority who want conflict they will get a forceful answer
The leader of the armed activists inside the state security service building in Luhansk has appealed to Russias President Vladimir Putin for help. Calling Luhansk the last remaining hope for all Ukraine, the man identified only as Vitaly said: Mr Putin, have mercy on your fighters. If you lose us
The Mummy of Tamut, a temple singer around 900 BC, is shown during a press conference at the British Museum in London. Scientists at the museum have used CT scans and volume graphics software to go beneath the bandages, revealing the skin, bones, internal organs, and in one case a brain-scooping rod left inside a skull by embalmers. The results are going on display in an exhibition which sets eight of the museums mummies alongside detailed 3 D images of their insides AP
DHAKA TRIBUNE
World
9
New ping signals spark confidence in MH370 search n Reuters, Sydney/Perth
Australian officials said yesterday two new ping signals had been detected in the search for Malaysia Airlines Flight MH370, boosting confidence after more than a month of fruitless searching for the missing jetliner. The signals, which could be from the planes black box recorders, bring to four the number of overall pings detected in recent days within the search area by a US Navy Towed Pinger Locator(TPL). Angus Houston, head of the Australian agency coordinating the search, struck an optimistic tone when announcing the information, but urged caution as the task of searching the remote Indian Ocean region remained enormous. Im now optimistic that we will find the aircraft...in the not too distant future, Houston told reporters. The black boxes may provide answers about what happened to the plane, which was carrying 227 passengers and 12 crew when it vanished on March 8 and flew thousands of kilometers off its Kuala Lumpur-to-Beijing route. But the batteries in the beacons have already reached the end of their 30-day expected life, making efforts to swiftly locate them all the more critical. However, officials said they can last for as long as two weeks beyond that time. That meant the search was becoming even more of a race against time, said Houston. I mean, we are looking at this stage for transmissions that are probably weaker than they would have been early on because the batteries of both devices are passed their use-by date and they will very shortly fail, he said. An autonomous underwater vehicle named Bluefin-21 is onboard the Australian navy vessel the Ocean Shield, which could be sent to look for wreckage on the sea floor once the search area is narrowed down. l
The quick count also showed that the five Islamic parties had won 32% of the vote, up from 29% for eight such parties contesting the 2009 election. Indonesia, Southeast Asias biggest economy, has about 500,000 polling stations and more than 186 million registered voters. The resource-rich countrys embrace of democracy since the downfall of former authoritarian leader Suharto 16 years ago has seen four different presidents and repeated change of the leading party. News of the weaker than expected performance by PDI P put some pressure on the rupiah in the offshore market. Predictions of a Jokowi presidency and strong showing by his party hade helped lift shares prices and the rupiah, Asias best performing currency this year, in the hope that it would bring a more decisive government. Campaigning has been notable for its lack of policy initiatives to give the economy a boost. Growth is expected to be a little more than 5% this year, but has weakened partly on the fall in commodity prices. Jokowi has offered little clue to his policies but his popularity rests heavily on his no-nonsense style in running the capital, demanding his bureaucrats perform their jobs properly and by focusing many policies on improving the lives of ordinary Jakartans. l
Pakistani volunteers collect the remains of the blast victims at the site of a bomb explosion in a fruit and vegetable market in Islamabad. The explosion killed at least 22 people and wounded 50 others AFP
An Indian cyclist rides past a voter-awareness billboard in New Delhi. The second phase of Indias national election, which began on April 7, got under way yesterday. The election is likely to sweep the Hindu nationalist opposition to power at a time of low growth, anger over corruption and warnings about religious unrest AFP
The campaign will recruit students, medical workers and other patients to act as middlemen between doctors and those in their care
Chinas government stepped up security at hospitals earlier this year, posting police at some centers and increasing surveillance after a rise in attacks. In February a doctor in northern Heilong-
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Editorial
LETTER OF THE DAY
Letters to
the Editor
New power capacity, roads, and water networks are essential to secure long-term growth
April 2 Whatever happened to WB conspiring against the great and patriotic example that Abul is to the younger generation, as our PM had claimed? Ahnaf Saber
Be Heard
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PEANUTS
CROSSWORD
ACROSS 1 Emphasise (6) 5 Fish (3) 7 Tool (3) 8 Spoil (6) 11 Tear (3) 12 Greek letter (5) 14 Sibilate (4) 16 Postpone (5) 18 Lazy person (5) 20 Tidy (4) 21 To one side (5) 23 Morse element (3) 24 Seagoing soldier (6) 27 Sailor (3) 28 Slender stick (3) 29 Pick out (6) DOWN 1 Drink slowly (3) 2 Male sheep (3) 3 Deprives of cover (7) 4 Appear to be (4) 5 Bottle for the table (6) 6 Leave (6) 9 Greedy (4) 10 Colour (3) 13 Army rank (7) 14 Obstruct (6) 15 Reviewed unsparingly (6) 17 Deserve (4) 19 Edge (3) 22 Fruit (4) 25 Wrath (3) 26 Newt (3)
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
BIGSTOCK
Banking on reform
n Mamun Rashid
inance Minister AMA Muhith again captured media headlines by saying the central bank has lied to the IMF about its independence. He said, other than the selection and firing of state-owned bank directors, the central bank calls the shots on everything in the countrys financial sector, especially banks. However, the central bank seniors and a few of their well-wishers still feel that the watchdog agency should be given full control of the state-owned banks just like private commercial banks. I was lecturing at a training session on trade fraud. In the question and answer session, a bank executive asked me: Sir, could an independent central bank have helped avoid the Hallmark scam? Considering the recent debates sparked over the central banks independence and few central bank seniors raising some objections, I wanted to avoid the answer. However I could not. Though I always felt that an independent, strong, and effective central bank could play a significant role in improving the overall banking environment in the country, at the same time, I dont think that central banks autonomy had much to do with the Hallmark scam. Unfortunately, we had to swallow a lot of knowledge donations regarding the possible causes of the Hallmark episode from people without adequate knowledge on international trade, risk analysis, risk management, bank limit, audit, governance, or information technology in banking or financial institutions. Any humble student of banking could say Hallmark is a glaring example of the failures of our banking sector. It showed the control failure in state-owned commercial banks. The head office didnt have enough control
over the branches, and didnt have adequate knowledge about what was really happening in the branches. It also demonstrates noncompliance with the procedures of accommodation bill and bill discounting under bank limit. Nobody was keeping track of the transactions happening within the same group entities under Hallmark in the same branch of a state-owned bank and the continuous diversion of funds to other banks.
Most importantly, banks are not in command of the required and relevant information due to absence of the right information technology platform, or because of a weak management information system or inappropriate record-keeping process. While banks lending capabilities are constrained by a percentage of their capital and reserve, the large clients can enjoy a loan festival without any relevance to their capital and reserve.
Local banks are happily taking exposures under bank limit on another bank without analysing the underlying fundamentals, strengths, or weaknesses of the respective banks. Nobody in the bank branches, as well as the head office, were monitoring the outstanding amounts against the bank limits and some people even thought that they could take any risk on Sonali Bank because it is a government of Bangladesh undertaking. The documentation, as well as validation process, in local or domestic trade is very weak in Bangladesh. In many cases, letters of credit are established after the goods have been shipped in order to formalise the payment process. Banks are increasingly becoming subservient or captive to big business groups, in most occasions drawings by the large groups are heavily in excess of their overall sales numbers or turnover.
Added to these were of course the lack of accountability in the state-owned banks, politicisation of the board, and maybe the entire banking system including weak or no human resource development practices and performance management culture. Strong control over the CEO and board appointment process of the state-owned banks might have helped the central bank to dictate timely submission of the returns, put up a proper audit plan on them, or even impose a better asset-liability management plan. But I dont think it would have helped a bank like Sonali Bank to avoid a scam of this magnitude. We need a better risk appraisal culture, data processing, mining, and analysing capability with well-trained human resources to detect or protect fraud or risk managers to identify and mitigate transaction risks in order to make sure we do not encounter further surprises like Hallmark.
Who does not want the central bank to enjoy autonomy to formulate an effective monetary policy, or even in a transition economy like Bangladesh to achieve respectable supervisory strength to protect the depositors interest? Having said that, I would rather put my money more on the banks to improve their human resources, rewrite their transaction or audit manuals or checklists, ensure establishment of a proper risk appraisal and approval process with an effective information technology delivery platform, and, more importantly, make sure that the internal control and compliance process is working. We also want our central bank to improve their offsite supervision, increase the use of technology in bank supervision, and, more importantly, their senior officials to start learning and appreciating the practical way of handling international trade transactions and large loans or treasury management. However, one important thing needs to be remembered by all concerned no matter how much we improve our systems, process, or platform, nothing can stop fraud and forgery in banks unless we recruit better people, who are capable but non-controversial, in senior positions in regulatory, supervisory, business planning, and development affairs. We have come a long way in the last four decades or so. Reforms have worked to some extent for our financial sector. Now we need to get our act together, look beyond our personal interest, and learn from our mistakes to build a respectable banking sector. Central bank independence only on paper and closing the banking division at the Ministry of Finance may not be enough. l Mamun Rashid is a business professor and financial sector entrepreneur.
Happy captains
The corporate community adores Modi. His periodic Vibrant Gujarat summits boast of the business-friendly regulatory environment of his state, which lies just north of Mumbai. Captains of industry like Mukesh Ambani and Ratan Tata have praised Modis rule in Gujarat. Tata Motors in 2008 moved a factory project for its groundbreaking Nano car from West Bengal, where local farmers fiercely opposed the companys use of land, to Gujarat, where Modi offered sweet terms including cheap property and easy access to loans. Investors, meanwhile, praise the quality of Gujarats ports and roads and credit Modi with reducing corruption and red tape. Economists like Columbia Universitys Jagdish Bhagwati and Arvind Panagariya support the Gujarat model and say the states encouragement of private entrepreneurship, if extended nationwide, could transform India. A new study backed by the Cato Institute ranks Gujarat highest among all Indian states in terms of economic freedom. Yet that should not be surprising Gujarati people are traditionally entrepreneurial and the state has historically been business-oriented. It had superior roads and good ports well before Modi became chief minister in 2001. The Ambani family, for example, made major investments in the state in the 1980s, when Modi was nowhere in the scene. Some investment projects in Gujarat have the scent of cronyism. A recent article in Forbes Asia revealed how the Adani group, which is close to Modi, has been allowed to lease graz-
While Modi speaks with what supporters call Reaganesque verve, and offers pro-market mantras and bon mots, he has also sounded protectionist at times. He has lamented the decline of some industries such as textile manufacturing in Gujarat that have failed precisely because of market forces. He has also criticised Indias dependence on electronics imports. And his party has many politicians who are suspicious of foreign investment. India is a country, not a market was an early slogan of the BJP. In a damning paper, UK-based economists Maitreesh Ghatak and Sanchari Roy debunk Modis cheerleaders. They point out that other states have also shown high growth and that Gujarats rate was already well above the national average in the decades before Modi came to power. In fact, the gap between Gujarats growth rate and the rest of the country has narrowed during Modis time at the helm. A rising tide lifts all boats, after all. The paper also notes that while Gujarats human development index a measure that accounts for non-income-related factors such as education and health exceeded the national average in the 1980s and 1990s, it slowed in the 2000s and fell behind the rest of the country. Similarly, the level of inequality in Gujarat has risen with Modi in charge. Detractors such as Ghatak and Roy also blast Modi as a right-wing Hindu nationalist who failed to contain the 2002 Gujarat riots. About 1,000 people died, the majority of them Muslims. The violence resulted in a 10-year diplomatic boycott of Gujarat by the UK government, as well as the imprisonment of one senior Modi aide on murder and other charges. A court-appointed investigation concluded there was not enough evidence to prosecute Modi himself, but a victims widow has appealed that decision. Citizens have to decide whether a politician so tainted deserves to lead India. In doing so, they will also reveal what kind of nation they want India to be. l Salil Tripathi is contributing editor at Caravan Magazine and Mint, the newspaper, in India. He lives in London. This article was first published in Nikkei Asian Review.
The political box into which the countrys political leaders have dragged it will undoubtedly erode the enormous economic gains
Extremists within both major parties will drive their leaders to more extreme measures
the wings. Its reputation for honest and efficient governance is drawing Bangladeshis who are fed up with the corruption and nepotism of the major parties, and it madesurprising gains in the early rounds of the local electionsbefore the ballot-box stuffing started. One wonders whether a reborn, renamed, reformed Jamaat, if able to shed its collaboration image, might
cient and honest government, it might sweep the table. I hear that some of those Bangladeshis who oppose the AL government are asking already: Where else could we go? l William B Milam is a Senior Scholar at the Woodrow Wilson Centre in Washington, DC, and former US Ambassador to Pakistan and Bangladesh. This article was first published in The Express Tribune.
12
DHAKA TRIBUNE
Entertainment
bution to the Bangladeshi music industry. Among the other special awards, Ferdous Wahid was honoured for his significant addition to the pop music arena of Bangladesh. Journalist Iqbal Karim Nishan and Hasan Ahmed Chowdhry Kiron got the award for their bestowal towards the cultural arena. For small screen, the Best Actor Award went to none other than the popular and much loved Sajal, whereas Nowshin won in the category of Best Actress. Jakaria Shoukhin won the Best Director of Small Screen, while Chayanika Chowdhry won the award for directing best single episode plays and Masud Sezan for drama series. Newcomer model Faria won the award for Best Populer Artist of Television. Shokh and Mehajabien won the Best Model of The Year while Mahfuz Ahmed won the Best Advertisement Director. The programme was hosted by popular small screen actor Sajal and Dhallywood actor Romana . The opening performance of the award ceremony was presented by the dynamic duo Ananta Jalil
and Borsha. The charming performance came to a halt then Ananta Jalil got injured while performing a fire stunt. However, the action hero resumed his presentation and apologised for the mishap. Multi-talented actor Tareen performed to a song titled Akash Debo Kake, which entertained a houseful audience. Habib, Nancy, Balam, Belal Khan, Suhana Dewan and Salma performed with style and pazazz. Bold beauties of Dhallywood, Peya and Airin presented two dance numbers which received audience applaud. Popular small and silver screen actresses including Shokh, Mehajabien, Eshana, Moushumy Hamid, Sporshia and many others performed several dance numbers. Minister of Information Ministry Hasanul Haq Inu was present as chief guest while Chairman of Globe Soft Drinks Ltd Harunur Rashid, Managing director of Ittefaq Holdings Ltd Arshad Hossain and Chairman of Al-Hassan Diamond Gallery Ltd Khabir Uddin was present as special guests at the award programme.l
In a recent interview, Deepika Padukone revealed some interesting facts about what she thinks about marriage and relationship. While asked about if she plans to get married, she replies: Sure, definitely. The feeling is there but right now I need to sit down and decide whether the ambitious side of me is slightly more or whether the emotional side is greater. I do battle with that. I always saw myself doing what I am doing today, but there is also this side of me that wants to get married and start a family and I know I will be good at that. Right now, if I feel that my ambition is largely controlling me then I should not be getting into that right now because I will want to give my 100% to that too. The Bollywood diva further said: I dont have an issue with marrying an actor though its definitely tough.Loyalty is a very important factor for me and I need to be in a relationship where the person will complete me and fill me up. She believes stars do not acknowledge relationships because it leads to too much scrutiny on relationships. Being in love is one of the most beautiful feelings, but I will talk about it when I am sure, she said. l
n Entertainment Desk
Jamuna Television will broadcast the first episode of Ponchok today at 6:30pm, an infotainment show for all age group. Each week, Ponchok will pick a theme or a topic and present five options on that for the viewers. The theme of the first episode is eating out and the host shows five different restaurants where one can dine with their loved ones. The show is made under the guidance of Jamuna Televisions Head of Programme Supan Roy and presented by Sohan Salek, a Communications Studies graduate from University of Greenwich, United Kingdom. Ponchok is executive produced by Ejaj Uddin Ahmed and Pradeep Bhattacherjee is the editor. l
Mahiya Mahi, the sensational diva of Dhallywood became the brand ambassador of Fair & Lovely in Bangladesh. Based on the agreement, Mahi will be seen taking part in different campaigns of Fair & Lovely
TODAY IN DHAKA
Film
Jibondhuli Shongram Frozen in 3D Boishomyo Avatar in 3D Star Cineplex Bashundhara City Panthapath, Dhaka
Exhibition
Serenading Suchitra Time: 12pm 8pm Shilpangan Gallery, House-7, Road-13, Dhanmondi Crossing Through Time: 3pm 8pm Dhaka Art Center (DAC) House-60, Road-7A Dhanmondi R/A
Sport
DHAKA TRIBUNE
13
14 Spirited Blues
14 Dortmund bow
Jayawardene, Sangakkara
Mohammedan SC players celebrate their win against Abahani Ltd in the semifinal of the Modhumoti Bank Independence Cup at the Bangabandhu National Stadium yesterday
MUMIT M
stroke of half-time. He collected Meshus through ball and instead of passing it on to Awudu, who was unmarked and free in front of the goal, Osei opted to shoot himself for glory which ended straight at the hands of the keeper. Mohammedan had the lead, but lived dangerously as Abahani threatened to equalize on several attempts. In the 50th minute, Osei slipped inside the six-yard box before taking the shot while just two minutes later, a powerful Suares header on a cross from Waly Faisal went over the crosspiece. Midfielder Awudu missed another opportunity in the 77th minute when Osei slid the ball from left flank onto the path of Awudu, but the Ghanaian was too slow to meet the cross as Nahid eventually cleared the ball to safety. The missed chances and the defeat was not sportingly accepted by the Abahani crowd who reacted by blocking the teams way out of the stadium for around one and a half hour. l
Of course the experience is not good. We couldnt perform as a team and I also couldnt do much personally. Overall, the tournament was not a good one for us. What we will have to do now is to overcome this bad patch and concentrate on the future games.
No one expected Bangladesh to perform befitting a champion. But a general feeling is Bangladesh could not even play up to their potential and nations expectations. What do you think went wrong?
I am sure no one expected us to lift the trophy but expected us to play 20 or 30 percent better than what we actually played because we are capable to perform at least that much. Expectations will be very much there as we have performed well in last two years and we were the ones to raise the expectation and nothing is wrong with
Yes, there were pressure and expectation on the players because we played well in the recent past and we raised their expectations. The supporters expected from us because we had won against big opponents. No one wants to fail in an exam. Likewise, our supporters will not expect us to lose. There will be expectations and to some extent, I think we are lucky that people expect from us because we were never a champion side and if the supporters had not expected, the world would not have known Bangladesh as a cricket crazy nation. So these pressures are very standard things. However, at the same time, I will also expect that our supporters should not expect anything which is impossible for us. The effect of expectations on a professional cricketer actually varies from person to person. But to be honest, it does have an impact but one should not be too concerned I guess or else it will affect ones game. I am sure all the fifteen members of the team want to develop and move a step forward with the pressure alongside.
You personally went through a bad patch and you must have heard people criticizing you, evento the extent of dropping you from the team. What are your thoughts on that?
I dont think much about all these to be honest. There will be a lot of criticism when you are going through a bad patch. People will demand to have you dropped from the team and at times you will hear offensive stuffs. It does not feel good to be honest but you also have to consider that these things are norms of a bad patch. My personal view on this is if you have done things right and have worked hard with your preparations - the criticism should not have effect on you. But if you have not worked hard with your preparations and then fail - you should feel guilty. When I look into the mirror, I tell myself that I did try to prepare myself in the best possible way but failed. I think my team mates, coaching staffs know what I did or what I didnt. I failed and this is a very normal thing for a cricketer. Twenty20 is a format where it is difficult to recover. My job in this format is to give the side a quick start, which is to post quick runs on the board in first one or two overs and this involves risks. Except the match against India, I got out playing an attacking shot. I dont think I played any game where I was too cautious
and thinking of surviving in the middle to save my skin. I always wanted to deliver for the team. I tried to provide a good start but I failed in the end. One grabs all the happiness in good times. But I think the bad times should also be taken positively in a sense that how to overcome the situation.
How do you plan to overcome the bad patch? Will no international cricket in next two months be of any help?
The vacation is not much to be honest. The NCL (National Cricket League) is starting next week. Personally it would have been better for me if I had got 10 to 12 days more without cricket. This would have helpedme to keep my mind fresh and not think much of cricket. I think this is the most important thing. Trying too much is not a good thing to do when things are not going well. What I have followed since my early days is to keep yourself away when things are not happening your way. The first-class cricket is starting in a week and doing well there will help me get my rhythm back. No international game in next few months will surely help us regroup and make things right. We have played lots of cricket in last three months and the results were not positive. So a break is good. This is not the end of the world. Yes, the tournament was big for us as we were the hosts. Failing here was disappointing but it was never the end. We have the 50 over World Cup next year and we should look forward to that. l
14
Hazard sustains calf injury
Eden Hazard could be sidelined for two weeks after injuring his calf during Chelseas 2 0 Champions League win over Paris Saint-Germain on Tuesday, manager Jose Mourinho said. With a muscular problem, even when its not serious, you cannot play normally for a couple of weeks minimum, Mourinho told a press conference. But I have no idea of the dimension. Hazard came off after only 18 minutes of the quarter-final second leg at Stamford Bridge and headed straight down the tunnel. AFP
DHAKA TRIBUNE
Sport
Paris St Germain's goalkeeper Salvatore Sirigu fails to catch the ball as Chelsea striker Demba Ba scores the second goal during their Champions League quarter-final second leg match at Stamford Bridge in London on Tuesday REUTERS
RESULTS
Schuerrle 32, Ba 87 Tie ended 3 3 on aggregate - Chelsea qualify for semi-finals on away goals
2 0 2 0
PSG (FRA)
Dortmund
Real Madrid
Real Madrid are also into the last four, a stage they always reached but never went beyond in each of the Portugueses three-year stint at the Bernabeu.
The Spanish giants did enough to win the tie thanks to their 3-0 success in last weeks first leg, although they were given a real scare at the Westfalenstadion. Cristiano Ronaldo spent the whole game on the bench as he struggled with a knee problem and Angel Di Maria had a 17th-minute penalty saved by home keeper Roman Weidenfeller, before Reus pounced on a poor header by Pepe back to his keeper Iker Casillas before slotting home. Reus found the net again in the 37th minute when he intercepted another poor ball back the way, this time by Asier Illarramendi, and passed to Robert Lewandowski. The Poles shot came back off the post but Reus followed in to score. l
Dortmund's players react after their Uefa Champions League quarter-final, second leg match against Real Madrid CF in Dortmund, western Germany on Tuesday AFP
FIXTURES
Benfica (POR) Juventus (ITA) Valencia (ESP) Sevilla (ESP) v v v v AZ Alkmaar (NED) Lyon (FRA) Basel (SUI) FC Porto (POR)
in recent seasons and Porto remain in contention to win the trophy as well as they take a 1-0 lead to Spain for the second leg of their tie against Sevilla. Porto, whose first-leg advantage was given to them by Eliaquim Man-
DHAKA TRIBUNE
Sport
15
SLC hits back at Jayawardene, Sangakkara
Sri Lankas cricket board and two senior players were locked in a war of words Wednesday, a day after the World Cup-winning Twenty20 team returned home as national heroes. Former skippers Mahela Jayawardene and Kumar Sangakkara sparked the row by criticising cricket officials during a red-carpet reception at the airport, but the board hit back with a strongly-worded statement. Sri Lanka Cricket denied allegations that they had made any disparaging remarks against the duo after they appeared to announce their retirement as the World Cup tournament got underway in Dhaka in mid-March. Jayawardene was upset with reported comments from a SLC official, who was said to have accused them of announcing their retirement without prior notice to the board. SLC considers such statements as damaging to both the image of the institution and the officials concerned, the board said in a one-page statement. It said Jayawardenes allegations were taken seriously because he suggested that the purported remarks by board secretary Nishantha Ranatunga and CEO Ashley de Silva could have demoralised the players. l
The Walton Friendship Cycle Rally began at the number 5 sector of Salt Lake, Kolkata yesterday with a hope to extend the camaraderie between the two Bengals even further. A total of 25 cyclists including 15 from Kolkata and 10 from Bangladesh are participating in the rally. The rally entered Benapole through Jessore yesterday and will stay at Narail today. The rally was inaugurated by the additional director of Walton AFM Iqbal bin Anwar Dawn. Arun Ghosh, the managing director of Techno India Group, senior project manager Arindam Mukherjee, the president of Kolkata Football Lovers Association Torun Bhowmik and Mihir Das were also present on the occasion. RM
Save the Sports, an organisation of sports organisers, urged the countrymen to take the necessary steps to stop the corruption, anomaly and partiality currently existing in the sports arena. In a press conference held at the National Press Club yesterday, Zakaria Pintu, the captain of Swadhin Bangla Football Team and the convener of Save the Sports, was critical of the existing scenario. What we see is all the sports federations are overall surrounded by corruption and nepotism, many proven and able organisers are not involved in the federation activities, said Pintu. Member secretary Dildar Hossain Dilu said the recently concluded ICC World T20 was a festival of corruption. A purse of Tk1.13bn was allotted for the beautification of the capital but I think10 percent of the fund was used, the tickets allocated for the journalists were sold in high prices by the BCB officials and employees, said Dilu. Advisors Pratap Shankar Hazra and Khairul Kabir Khokon were also present on the occasion. RM
Sri Lankan Twenty20 cricket captain Lasith Malinga (C) offers a piece of cake to Sri Lankan President Mahinda Rajapakse during a welcoming ceremony after Sri Lanka won the ICC AFP World Twenty20 cricket tournament at the Presidential Residency in Colombo on Tuesday
Australia paceman Ryan Harris and opening batsman Chris Rogers have been rewarded for their performances in the two recent Ashes series by being included as two of Wisdens Five Cricketers of the Year. They were honoured by the annual publication, often referred to as the bible of cricket, along with England batsman Joe Root, Indias Shikhar Dhawan and Charlotte Edwards, the captain of the England womens team. South Africa bowler Dale Steyn was named Wisdens Leading Cricketer in the World for 2013. The five Cricketers of the Year have been selected since 1889 by Wisdens editor primarily on their performances in the previous English season. That would in part explain the absence of Australian fast bowler Mitchell Johnson, who did not take part in the first Ashes series in England but played a decisive role in the second. Reuters
#ICCWT20 #TWITTERMIRROR
DAYS WATCH
UEFA Europa League 2013/14, QF Leg 2 Ten Sports 1:35AM Sevilla FC v FC Porto Ten Action 1:35AM Juventus v Olympic Lyon Sony Six NBA 2013 14 6:00AM Memphis v Miami 8:30AM La Clippers v Oklahoma City
Yuvraj Singh and Virat Kohli started the Mirrors, posting their message to fans ahead of the tournament Jayawardena and Sangakkara announced their retirements from T20Is at the end of the tournament
Maxwell, Finch, White and Faulkner sent a message of support to the injured Mitchell Johnson
On winning the ICC Women's World Twenty20 2014, the Australia Women's team all got involved
Suresh Raina, Ravindra Jadeja and Shikar Dhawan posed for a Twitter Mirror on Holi Day
After becoming the first Pakistan player to score a T20I century, Ahmed Shehzad celebrated alongside his captain Hafeez
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It will make mobile broadband service better, less costly and more expanded
the last caretaker government with 20 action plans. BTRCs roadmap includes especially allocations of spectrum and issuance of licences. This is to help the government implement its goal of building a digital Bangladesh. The roadmap will also facilitate the industry investors to prepare their future business and investment plans, BTRC Chairman Sunil Kanti Bose said. However, the telecom sector people wants more extended roadmaps like for at least a 10-year period. We need to have a very clear roadmap which should be for at least 10 years. It will help us forecast whats going to happen in the industry, said TIM Nurul Kabir, secretary general of the Association of Mobile Telecom Operators of Bangladesh (Amtob). In September last year, BTRC made an auction for 2100 band spectrums where per megahertz spectrum price was fixed at $21m. In 2011, the regulator sold spectrums at Tk155 core per megahertz from 800 and 1800 bands, official sources said. Meanwhile, BTRC sources said the regulator is determined to set up a centralised monitoring system to prevent illegal international call termination and thus increase state revenue income. The regulators engineering division made a proposal in this regard while systems and services division placed a proposal of about the Internet safety. Mobile operators praised the decision to prepare a modern roadmap for this developing industry. l
3.7 3.1
The report said, in about half of the low-income country sample, debt ratios are projected to keep increasing through 2019. In the Bangladesh case, the gross debt would stand at 38.7% of GDP. The increase in debt is expected to be sizeable in some of the so-called Frontier LICs, Sanjeev Gupta, IMF Fiscal Affairs Departments acting director, said in an initial statement of a press conference in Washington yesterday. Debt build up has had adverse consequences for LICs in the past because it was not used for growth-enhancing investments; so it seems warranted to wonder whether the story will be dif-
ferent this time. In other words, has the new borrowing been used to increase productive spending? Gupta said. The evidence is mixed. In many countries, large increases in debt have not been associated with higher capital spending (e.g., Honduras, Sudan, and Zambia). This raises concerns about the quality of spending in some low-income countries, and point out to the need to strengthen institutional capacity to raise the efficiency of spending. The low-income countries should step up revenue mobilisation and higher expenditure efficiency to restore fiscal buffers and to create room for much
needed public services, Gupta said. In the emerging economies, the vulnerabilities are also on the rise while remaining elevated in the advanced economies. In emerging economies and low-income countries, expenditure reform can help respond to growing demands for better delivery of public services. The challenge for policymakers around the globe is to ensure the sustainability of expenditure programs, maximise the efficiency of public spending, and foster an equitable access to public services. Reaching these goals is not easy and will require mobilising political and social support, said Gupta. The report suggested that any spending reform must ensure the sustainability of the major budget items, particularly the government wage bill and social benefits. In emerging markets and low-income countries these two items constitute 60% of total spending. The expenditure reforms should seek to achieve efficiency gains, while preserving equity. For instance, this could be achieved through better targeting of social programs and promoting greater competition in the health care and education sectors. l
tors are perhaps ignoring the timing, which is unfortunate and irrational. Holcim and Lafarge, the worlds cement giants, on April 8 announced outline for their proposed merger. In a joint statement, they said the companies are aiming to complete the deal by the first quarter of 2015. According to the latest disclosure on financial statements as of last year, the company has a consolidated net asset value of Tk9.51 per share and an annual earning of Tk2.19 per share. Considering the companys financial
scenario, investors who are buying the stock are paying six times the price of assets held by the company and annual earning for each stock is slightly above Tk2 against the stock price Tk60. Some brokers were seen warning retailers to be careful before buying the stock. It is just irrational speculation from retailers who are buying stocks without analysing the merger issue, said a broker. Lafarge of France have stake of only 29.435% of the Lafarge Surma Cement listed with the DSE. l
Liquefied natural gas (LNG) carrier Al Ruwais, constructed by Daewoo Shipbuilding and Marine Engineering Co., is seen during its trial voyage at sea near Geoje, southeast of Seoul REUTERS
n Rabiul Islam
Bangladesh Inland Water Transport Corporation (BIWTC) has initiated a move to build four container vessels at a cost of Tk 150 crore. Two contacts were signed at the Shipping Ministry in this regard yesterday. Engineer M A Gofur Sarkar, project director at BIWTS, Captain M S Karim, general manager at Khulna Shipyard, and Md Saeedur Rahman, additional chief engineer at Chittagong Dry Doc Limited, signed the contracts on behalf of their respective organisations. According to the contracts, two of the vessels will be built at Khulna Shipyard and two at Chittagong Dry Dock Limited, tentatively within 22 months. Among others, Shipping Minister Shajahan Khan, Secretary Syed Manjurul Islam and BIWTC Chairman Mojibur Rahman were present at the contract signing, according to a press release. l
B2
DHAKA TRIBUNE
Stock
DSE GAINERS Company
Closing (% change) 9.60 9.09 7.50 6.92 5.93 5.74 5.59 5.50 5.32 5.13
AB Bank - A Savar Refractories-Z JMI Syringes MDL A MutualTrust Bank-A First Security Bank-A Samata LeatheR -Z City Bank - A Golden Son -A Uttara Bank - A The Ibn SinaA CSE GAINERS Company AB Bank - A Union Capital -A JMI Syringes MDL A Delta Brac HFCL A LafargeS Cement-Z Intl. Leasing-B Aziz PipesZ The Ibn SinaA Rahima Food -Z Golden Son -A
Average (% change) 7.78 9.09 5.70 2.62 2.51 6.06 1.36 5.35 4.00 3.41 Average (% change) 4.70 5.53 6.10 6.71 7.58 4.24 6.10 3.56 2.24 5.77
Closing average 27.02 60.00 180.61 16.46 12.26 35.00 18.62 60.46 27.06 130.43
Closing 27.40 60.00 182.00 17.00 12.50 35.00 18.90 61.40 27.70 131.10
Daily high 27.50 60.00 185.70 17.40 12.70 35.00 19.00 61.80 28.50 132.80
Daily low 22.50 60.00 170.00 14.40 11.00 35.00 16.30 54.50 25.00 115.00
Turnover in million 122.584 0.015 12.733 8.696 5.841 0.018 18.759 100.115 16.967 39.874
Latest EPS 2.06 0.60 1.97 1.86 1.87 -0.04 1.31 3.35 3.30 3.12
Latest PE 13.1 100.0 91.7 8.8 6.6 -ve 14.2 18.0 8.2 41.8
Closing (% change) 9.64 7.26 6.84 6.71 6.27 6.06 6.00 5.39 5.39 5.32
Closing average 26.50 26.34 181.71 62.00 61.62 13.76 21.22 129.90 42.45 60.51
Closing 27.30 26.60 181.30 62.00 61.00 14.00 21.20 131.00 43.00 61.40
Daily high 27.30 27.20 186.60 62.00 63.10 14.00 21.50 132.00 43.00 62.00
Daily low 24.80 24.60 177.00 62.00 57.60 13.30 20.70 124.20 42.00 59.50
Turnover in million 5.666 0.446 2.816 0.124 89.374 0.172 0.011 2.728 0.127 7.758
Latest EPS 2.06 1.17 1.97 3.46 2.19 -0.21 0.59 3.12 -1.00 3.35
Latest PE 12.9 22.5 92.2 17.9 28.1 -ve 36.0 41.6 -ve 18.1
(+) 0.16% (-) 0.19% (-) 0.43% (+) 0.19% (+) 0.02% (-) 0.01%
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$)
Average (% change) -9.17 -9.95 -4.62 -7.24 -5.25 -4.41 -2.86 -1.75
Closing average 99.00 15.20 1334.87 168.71 7.58 26.89 21.38 1285.39
Daily high 99.00 16.00 1425.00 179.90 7.90 27.90 22.00 1335.00
Daily low 99.00 14.00 1319.00 161.00 7.40 26.10 20.40 1250.00
Turnover in million 0.020 12.845 2.603 17.765 0.050 0.121 0.727 14.075
Latest EPS -10.24 0.76 41.12 1.40 -4.02 -5.96 2.56 46.53
25.02.2014. IPO Subscription: The Peninsula Chittagong Limited subscription date 30 March-03 April 2014, NRB upto 12 April 2014. @ taka 30, face value taka 10 and market lot 200. Shahjibazar Power Co. Limited subscription date 06 04 April 2014, NRB upto 19 April 2014. @ taka 25, face value taka 10 and market lot 200. Dividend/AGM FASFIN: 5.20% cash, AGM: 22.05.2014, Record Date: 22.04.2014. RECKITTBEN: 400%, AGM: 06.05.2014, Record Date: 20.04.2014. PHOENIXFIN: 20% cash, AGM: 29.05.2014, Record Date: 17.04.2014. NORTHRNINS: 10% stock, AGM: 08.06.2014, Record Date: 16.04.2014. BDLAMPS: 20% cash, AGM: 20.05.2014, Record Date: 17.04.2014. ARGONDENIM: 6% cash & 15% stock, AGM: 24.04.2014, Record date: 10.04.2014. HEIDELBCEM: 380% cash, AGM: 22.05.2014, Record Date: 17.04.2014. FAMILYTEX: 100% stock, AGM: 15.05.2014, Record Date: 22.04.2014. SIBL: 12% cash, AGM: 31.05.2014, Record Date: 24.04.2014.
-3.68 -3.57
-3.52 8.00
2554.71 8.10
2550.20 8.10
2655.00 8.10
2545.00 8.10
8.686 0.006
81.14 -50.84
31.5 -ve
Closing (% change) -11.24 -9.62 -7.49 -7.12 -5.57 -5.38 -4.84 -4.71
Average (% change) -13.81 -9.62 -7.41 -6.48 -5.40 -5.38 -8.39 -4.37
Closing average 14.54 21.60 34.63 479.25 32.23 88.00 168.58 2,522.75
Daily high 15.50 21.60 35.00 482.50 32.40 88.00 177.70 2,550.00
Daily low 14.10 21.60 34.00 476.00 31.50 88.00 165.00 2,513.00
Turnover in million 0.640 0.011 0.069 0.192 0.193 0.264 0.961 0.505
Latest EPS 0.76 1.51 2.00 23.61 1.56 10.00 1.40 81.14
-3.30 -3.24
-2.30 -3.37
1,007.55 204.94
1,007.60 199.90
1,010.10 211.00
1,005.00 197.10
0.202 0.879
52.75 5.10
19.1 40.2
ANALYST
SECTORAL TURNOVER SUMMARY
Sector Bank NBFI Investment Engineering Food & Allied Fuel & Power Jute Textile Pharma & Chemical Paper & Packaging Service Leather Ceramic Cement Information Technology General Insurance Life Insurance Telecom Travel & Leisure Miscellaneous Debenture
Nascent concern over the market direction has made the index trembling
DSE TURNOVER LEADERS Company LafargeS Cement-Z Grameenphone-A HeidelbergCement -A Padma Oil Co. -A Olympic Ind. -A
Meghna Petroleum -A
DSE Million Taka 469.24 143.87 62.59 356.52 225.11 492.43 2.99 334.52 1260.53 0.57 46.74 100.67 21.16 1046.72 19.31 34.75 85.01 475.16 23.53 167.08 6.08
% change 8.73 2.68 1.16 6.63 4.19 9.16 0.06 6.22 23.45 0.01 0.87 1.87 0.39 19.48 0.36 0.65 1.58 8.84 0.44 3.11 0.11
Million Taka 38.20 14.82 5.12 29.39 18.48 29.24 43.50 24.59 14.28 1.94 16.41 2.43 100.66 4.25 1.20 3.64 52.08 4.54 20.86 0.22
CSE
% change 8.97 3.48 1.20 6.90 4.34 6.87 0.00 10.21 5.77 3.35 0.45 3.85 0.57 23.64 1.00 0.28 0.85 12.23 1.07 4.90 0.05
Million Taka 507.44 158.69 67.71 385.91 243.59 521.67 2.99 378.02 1285.12 14.86 48.68 117.08 23.59 1147.38 23.57 35.95 88.64 527.24 28.07 187.94 6.30
Total
% change 8.75 2.74 1.17 6.65 4.20 8.99 0.05 6.52 22.16 0.26 0.84 2.02 0.41 19.78 0.41 0.62 1.53 9.09 0.48 3.24 0.11
BD Submarine Cable-A Matin Spinning-N Renata Ltd. -A Familytex (BD) Ltd.-N UCBL - A
CSE TURNOVER LEADERS Company LafargeS Cement-Z
Volume shares 12,619,500 1,614,384 386,960 544,330 604,000 472,892 4,536,019 167,210 1,655,783
Value in million 775.31 398.01 216.17 194.93 135.64 135.09 122.58 109.03 100.12
% of total turnover 14.43 7.41 4.02 3.63 2.52 2.51 2.28 2.03 1.86
Daily closing 59.50 247.90 548.90 354.30 224.30 284.20 27.40 651.50 61.40
Price change 3.84 0.36 -2.71 -2.02 -1.41 -1.52 9.60 2.44 5.50
Daily opening 57.30 247.00 564.20 361.60 227.50 288.60 25.00 636.00 58.20
Daily high 63.00 250.10 570.00 363.70 228.30 289.00 27.50 662.00 61.80
Daily low 57.50 240.00 545.00 340.00 208.00 264.00 22.50 632.00 54.50
Daily average 61.44 246.54 558.65 358.11 224.56 285.67 27.02 652.07 60.46
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
Grameenphone-A Matin Spinning-N BSC A BD Submarine Cable-A Padma Oil Co. -A Square Pharma -A LankaBangla Fin. -A HeidelbergCement -A UCBL - A Golden Son -A AB Bank - A Familytex (BD) Ltd.-N Emerald Oil Ind. -N BEXIMCO Ltd. -A
1,450,500 161,000 391,600 23,765 58,410 34,582 36,899 151,600 15,250 352,031 128,210 213,838 89,000 19,511 133,834
Volume shares
Value in million
89.37 39.58 16.91 15.52 12.50 12.33 10.27 9.52 8.49 8.27 7.76 5.67 5.17 4.37 3.91
% of total turnover
23.78 10.53 4.50 4.13 3.32 3.28 2.73 2.53 2.26 2.20 2.06 1.51 1.38 1.16 1.04
Daily closing
61.00 247.60 42.90 651.00 212.10 354.70 279.40 62.30 549.40 23.70 61.40 27.30 57.20 45.50 29.10
Price change
6.27 0.00 2.39 2.36 -2.17 -1.91 0.00 1.30 -2.47 3.95 5.32 9.64 -2.56 -0.66 -0.68
Daily opening
57.40 247.60 41.90 636.00 216.80 361.60 279.40 61.50 563.30 22.80 58.30 24.90 58.70 45.80 29.30
63.10 249.90 44.70 667.00 217.70 362.50 280.20 63.70 570.00 23.90 62.00 27.30 61.00 47.00 29.60
Daily high
57.60 238.10 41.90 631.00 211.80 352.60 275.20 61.50 542.00 20.70 59.50 24.80 56.90 45.30 29.00
Daily low
Daily average
61.62 245.85 43.19 653.27 213.98 356.49 278.46 62.78 556.95 23.49 60.51 26.50 58.09 224.19 29.20
DHAKA TRIBUNE
Business
n AFP, Tokyo
B3
Twitter profiles get Facebookstyle revamp
n AFP, San Francisco
Twitter on Tuesday began revamping profile pages to let users display more of their online personalities, giving the popular service a Facebook-like feel. The new web profile lets you use a larger profile photo, customize your header, show off your best Tweets and more, Twitter designer David Bellona said in a blog post. Twitter showed off the redesign at the accounts of high-profile accounts such as that of US First Lady Michelle Obama at @flotus and music stars @ JohnLegend and @Weezer. On redesigned Twitter pages, messages that prompt people to respond or re-tweet appear in larger type to reveal which comments resonated with followers. A favorite tweet can be pinned atop pages to make it easy for followers to see what youre all about, according to Bellona. Filters are being added to allow more selective views of timelines on pages. San Francisco-based Twitter said the changes are coming soon to everyone. As of the end of last year, one in every six people online in the United States used Twitter and approximately a quarter of those on the Internet in Britain tuned into the service, according to industry-tracker eMarketer. l
According to an April 2013 presentation filed to a US court, executives had debated plans for Apples 2014 fiscal year and concluded that consumers wanted what it wasnt offering: cheaper phones
- for less than $300 - and bigger screens. Its unclear how representative that presentation is of Apples mindset. Nor are there signs that Apple, which thrives on its premium positioning and plays down suggestions that it go mass-market, intends to deviate from its path. Apple did not respond to requests for comment. An economy model may wedge Apple more firmly in emerging markets - a segment still seeing strong growth. Apple now relies on discounted older generation phones to reach cost-conscious buyers, but buyers in markets
like Brazil and China increasingly want the latest gadget. IPhone shipments grew just 8% in Apples 2013 fiscal third quarter, a far cry from five years ago when shipments more than doubled. They are foregoing incremental revenue opportunities by not having a product that addresses that market, said BTIG analyst Walter Piecyk, adding that the main hope of investors now is that Apple produce a new product - a wearable device, say - to galvanize revenue growth. The iPhone 5C, a colorful plastic model priced just $100 cheaper than its
premium cousin, was aimed at emerging markets and marked a departure from Apples focus on premium phones last year. But its not been a spectacular success. Some analysts theorize that an unwillingness to sacrifice profitability meant the device wasnt priced cheaply enough.
A thinner slice
Apples iPhone margins have crept south as the company packs more features into its gadgets, trying to stand out in an increasingly crowded field. As its market share dwindles, the company enjoys less leverage to squeeze
Grameenphone Ltd held its 17th annual general meeting at the Basundhara Convention Center yesterday. GP has paid 90% interim cash dividend and recommended 50% final cash dividend per share on its Tk10 face value. The companys chair on the board, Sigve Brekke and CEO Vivek Sood were present on the occasion along with the other board members NCC Bank Ltd recently organised a conference for its executives and officers of Greater Noakhali and Comilla based branches in Comilla. Golam Hafiz Ahmed, acting managing director attended the conference as chief guest
First Security Islami Bank Limited recently sponsored 1st phase of beautification and renovation work at I & SC, Bangladesh Air Force and F 6 Fighter Plane at Bijoy Shoroni in Dhaka. Air Vice Marshal M Naim Hassan inaugurated the work
Ninth batch of probationary officers at Social Islami Bank Limited seen presenting a bouquet to the banks chair, Major (retd) Dr Md Rezaul Haque in a programme titled Chairmans Free Time with Future Leaders
Banglalink, mobile telecom operator on Tuesday launched its 3G services in Sylhet at a press conference held in Roseview Hotel. Mayor, Ariful Haque Chowdhury of Sylhet City Corporation was present at the programme as chief guest
B4
DHAKA TRIBUNE
Back Page
n Sean Grifn
There is no question about it. Its an exciting time to be an entrepreneur, wherever you live in the world. There is more attention being given to entrepreneurialism as a viable careerpath and way to innovate than at any other time in history. We are at the beginning of a full-blown entrepreneurial renaissance. Organisations and programs that support new technology companies to launch and gain access to the tools, resources, and capital, that accelerate building scalable, high growth businesses, are being introduced on a daily basis. Startup programs like Startup Weekend, Lean Startup Machine, TechStars, and YCombinator, are highly successful at filtering large numbers of technology companies with mentoring and funding designed to test their business models in an effort to grow big, fast. Lets face it; you are hard-pressed to go a full day without being fed a news story about a technology company that has raised their first and second multimillion-dollar investment or the latest IPO making the founders into millionaires and billionaires. Very exciting times indeed. At least for those that are able to turn their startup into piles of cash.
Japan, United The 98% entrepreneurship reality States face off in crucial trade negotiations
Fromans talks with Amari were likely to continue on Thursday. The presidents visit is one important juncture, but it is not a deadline, Japanese Deputy Chief Cabinet Secretary Hiroshige Seko told a news conference. What is important is to achieve our countrys national interests. Australian Prime Minister Tony Abbott and Abe confirmed a basic trade agreement on Monday, overcoming sticking points on beef and autos that had threatened to stymie a deal, and agreed to work towards signing it as soon as possible. Clearly we are looking for a level of ambition in TPP that is significantly higher than that, Froman told reporters on Tuesday upon arriving in Japan. Froman told US lawmakers last week that Japans reluctance to lower trade barriers was holding up agreement on the TPP, a 12-nation grouping that would stretch from Asia to Latin America. Japanese officials say Washington needs to be more flexible on its side. The United States wants Japan to open its rice, beef and pork, dairy and sugar sectors - politically powerful sectors that Abe has vowed to defend. Japan wants a timetable on US promises to drop tariffs of 2.5% on imports of passenger cars and 25% on light trucks. Abe called for flexibility and said he hoped that both parties would end up feeling that they were in a mutually beneficial situation, as with the JapanAustralia agreement. I think we can say Japan and the United States are dominant among parties participating in TPP talks in terms of economy, he told Japanese television on Tuesday. If Japan and the United States fail to reach an agreement, TPP could collapse ... The important thing is that it would be pointless if Japan and the United States remained unyielding and that happened. l
n Reuters, Tokyo
Japan and the United States on Wednesday began a round of crucial talks aimed at concluding a trade pact seen as critical to the success of regional negotiations, although officials warned that bridging differences would be difficult. Tokyo and Washington are seeking a two-way trade deal, regarded as a key part of the US-led Trans-Pacific Partnership (TPP) that is the centrepiece of Washingtons push to increase its Asian presence, before US President Barack Obama travels to Japan for an April 2425 state visit. Japanese Prime Minister Shinzo Abe has touted the multilateral framework as a key part of his growth strategy but the outlook for a Japan-US deal is cloudy as both sides accuse each other of inflexibility. I think if there is good will on both sides we can make progress on bridging our differences, US Trade Representative Michael Froman told reporters before talks with officials including Economy Minister Akira Amari. Working level discussions on Monday and Tuesday made little substantial progress in narrowing gaps, a Japanese government source said, and
focus more energy on supporting the 98% of entrepreneurs who are starting new companies. The challenge is that the 98% do not meet the capitalistic nature of our economy today. That is to say, that they do not have a company that fast can grow big and generate handsome returns for investors. No wonder so many have so much anger towards Wall Street.
and the passion to take that idea into the marketplace. Just think about how different the American economy would be if we were giving small business startups a similar level of access to networks, coaching, and team development, as the 2%. We are over-promoting unrealistic behavior. Instead of focusing on raising lots of money, lets focus on the development of viable business models that connect with customers willing to pay for the value created by the startup. By focusing on the generation of revenue that drives profitability there is less and less need to raise money. Small business is the cornerstone of entrepreneurship. Some will become the next Apple but most will become the next corner drugstore owning their business for 20 years. Both deserve the same level of support and regard for making a difference in our lives. StartUp Cup is borne out of this frustration, to see entrepreneurs armed with any type of idea gain access to the coaching,
resources, and tools that the 2% have access to. Its time to start celebrating the real heroes of our economy, the 98% who work to make our lives better each and every day. Our bootstrapping approach to growing entrepreneurs and sustainable companies is proving to be one of the most high-impact entrepreneur programs in the world. There are a number ofStartUp Cups around the worldaccepting business model applications right now, including Bangladesh StartUp Cup. Whats your big idea? The time is NOW to make your dreams come true and turn your business idea, no matter what kind, into a sustainable business. What are you waiting for? l Sean Griffin, the CEO and Founder of StartUp Cup, is an internationally renowned visual thinker, Silicon Valley serial entrepreneur turned entrepreneurial educator, and community builder
Information considered at risk includes source codes, passwords, and keys that could be used to impersonate websites or unlock encrypted data. These are the crown jewels, the
DILBERT
A digital wallet used to store bitcoins is displayed at a Bitcoin conference on at the Javits Center April 7 in New York. Topics included market places to trade bitcoin, mining hardware to harvest bitcoins and digital wallets to store bitcoins. Bitcoin is one of the most popular of over one hundred digital currencies that have recently come into popularity AFP