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SECOND EDITION
My Muslim brothers in Bangladesh, I invite you to confront this Crusade onslaught against Islam
The Dhaka Tribune enquired a number of sources to verify the authenticity of the audio clip, but could not confirm it. Meanwhile, the home ministry termed the audio message baseless as per their intelligence information. Monirul Islam, joint commissioner of the Detective Branch of Dhaka Metropolitan Police, who listened to the audio tape, said: Primarily it seems that it was a message from al-Qaeda and Zawahiri. Until and unless al-Qaeda officially denies their responsibility over this audio message, we will have reasons to believe that they published it, Monirul told the Dhaka Tribune over phone. Though authenticity of the audio tape remained unconfirmed, this type of message raised concerns among the cross
Contaminated water from a local sugar mill spreads across farmlands, with farmers desperately trying to save their crops from being polluted
BANGLAR CHOKH
P2
the two on a drive to recover more arms, when seven-eight of their fellow robbers attacked police with firearms in the Sutikhalpar area, resulting in a gunfight. The two robbers, who sustained injuries in the gunfight, were declared dead after being taken to a local hospital. Their bodies were sent to the Mitford hospital for autopsy, police said.
INSIDE
3 The aspiring candidates of third- and fourth-phase upazila parishad polls would not be able to change their voter areas before the upcoming election, the Election Commission officials said yesterday.
News
move forward when our language, perhaps uniquely of all, uses the same colloquial word for yesterday and tomorrow?
Entertainment
Op-Ed
11 One of the more profound laments of anguish I heard from a South Asian expatriate was the pithy observation that how can we
12 As part of Shadhonas 3 year project Dhrumel, Shadhona and Manipuri Theatre will stage the premier show of their new dance drama Premamritam at the auditorium of Dance and Music Department of Bangladesh Shilpakala Academy.
2
NHRC: Stop extrajudicial killings n Tribune Report
The National Human Rights Commission has called upon authorities concerned to immediately stop extrajudicial killings going on in the name of shootout and crossfire. There should be no extrajudicial killing whatever the reasons may be. It should be stopped immediately, NHRC Chairman Prof Mizanur Rahman said yesterday at a programme in the capital. He made the statement at a time when two suspected criminals were killed in a gunfight with police in the capitals Jatrabari area yesterday. We started raising our voice against all sorts of extrajudicial killings after taking over [NHRC office] in 2010, he said claiming that such incidents had come down to almost zero percent. Mizanur, a professor of law at Dhaka University, also said: People today hear and read about cooked up stories of gunfight. The stories are all similar. Only the names of victims, places of occurrences, times, dates and the names of the officials involved are different, he said. These incidents indicate deterioration of human rights situation in the country, he said. l
DHAKA TRIBUNE
News
Police recover pistols, pipe guns, bullets and several machetes in an overnight raid at Dhaka College in the capital on Thursday night. The photo was taken at New Market police station yesterday FOCUS BANGLA
Jihadology
PAGE 1 COLUMN 3
It was difficult to determine the official website of As-Sahab Media. But according to another website named Global Jihad, the As-Sahab Foundation for Islamic Media Publication (The Clouds) is the media production house of the al-Qaeda. It distributes the organisations point of views for promoting the Global Jihad, encouraging young Muslims to identify themselves with the cause and glorifying the al-Qaeda. It says the As-Sahab started in 2001 under Abdul Rehman al-Maghrebi, the son-in-law of Zawahiri, and with the involvement of Adam Yahiye Gadahn and Attiya Allah. Since then, As-Sahab distributed through Arab TV networks including Aljazeera or Al-Arabia or local Pakistani TV stations the footages and audios of primarily Zawahiri, much less of Osama Bin Laden, and footages of successful attacks in Iraq, Afghanistan, Pakistan and all over the world. The Global Jihad website is hosted in Germany. l
the British parliament called on all political parties, both in government and opposition, to ensure that such attacks did not repeat in the future, according to the UK parliament website. The motion underscored the bid for all stakeholders to uphold the tradition of communal harmony that has been a hallmark of the people of Bangladesh. It said the House was particularly disturbed by the repetition of such incidents that took place after the general election in 2001, the perpetrators of which were not brought to justice. l
We do not think they were twins and the parents dumped them together, SI Nayan said. The infants had no injury marks. The infant recovered from the Aziz Mahalla drain had no injury marks and was also dumped soon after his birth, said SI Jahangir. We are trying to find out whether the infants were born dead or if they died after being dumped, he said. As of filing this report at 8:45pm, no case has been filed in this connection. l
The dead body of Joban Ali, the prime accused in the murder case, was found on February 5, but her husband had been missing. On February 10, an activist of Jubo League, youth front of ruling Awami League, was killed in an alleged gunfight with RAB in the Chawk Bazar area in the Barisal city. RAB claimed that Faruk Ahmed alias Panama Faruk was killed when a group of young men opened fire on them and they retaliated with gunshots. Last year, Ain O Salish Kendra (ASK), a Dhaka-based rights body, said in a monitoring report that at least 208
people were killed by law enforcement agencies. ASK observed that despite assurances from the government, state actors had been involved in killings in the name of crossfire, gunfights and encounters. The rights watchdog also expressed concerns about the rising number of deaths in police custody. On January 21, State Minister for Home Affairs Asaduzzaman Khan Kamal said the joint forces comprising mainly Police, RAB and BGB members were engaged in an operation against terrorists and criminals and that none of those involved in violence and crime would be spared. l
may turn you into slaves of a despotic and disbelieving system. Though some parts of the message gives an idea that he was talking about the Jamaat-e-Islami leaders who are in jail and facing war crimes charges while some of them have already been awarded death sentence, he did not mention specifically about them. Similarly, the audio gives a sense that the al-Qaeda leader was talking about the propaganda of killing thousands of people after Hefazats May 5 rally at Motijheel. But Hefazats name was not mentioned specifically in the audio message. Qawmi madrasa-based Hefazat in a statement yesterday said they and the Islamic scholars had no relation with the audio message. Egyptian physician Zawahiri, born in 1951, is the leader of al-Qaeda. In 1993, al-Zawahiri travelled to the US, where he addressed several California mosques under his Abdul Muiz pseudonym.
The audio message said: O scholars of Islam in Bangladesh! You must fight an ideological and propagational war against the secularists and atheists to expose the shallowness of their beliefs and ideas. You must highlight in front of the masses their failures, scandals, and the blind alley they are leading this country into. At the same time, you must also elucidate the merits of the Shariah. You must shed light on the justice, freedom, glory, honour, chastity, and protection of ethics, values and human dignity which the Shariah calls for. Claiming that a massacre of Muslims was being carried out these days, and the Muslim world was totally oblivious to it, the message says: The western media is colluding with the killers to belittle its significance and hide the facts. This is the bloodbath taking place in Bangladesh, without the Muslims paying the least attention to it. Bangladesh is the victim of the
into anger. Replays clearly indicated they had every right to oppose the decision as it was a clear play-acting from the Mohammedan defender who was untouched by Norde. The drama was yet to begin as Santosh also cautioned Luciano not once, but twice during the brawl of the Jamal and Mohammedan players resulting in a send-off to the Brazilian as well. Sheikh Jamal dominated from their very first attack and emphasised on aerial crosses from the wings. They could have taken the lead on five minutes as Wedson skipped past two defenders to break into the penalty area, but his cut back deflected off a defender on to the keeper. A silly foul on Norde gifted Jamal a free-kick from 25 yards and he did what he does best to give his side the lead. The Haitian forward curled the freekick that sneaked in from the top left corner. Josimar outmuscled his marker seconds before the breather to find Wadoo unmarked who slotted home the
equaliser. Sohel Rana almost retained the lead four minutes into the second-half but the midfielder fired wide before Norde saw his scorching shot from 25-yards grasped by Mohammedan goalkeeper Luis Barreto in the 63rd minute. With two red cards and each side down to 10-man the game opened more in the last few minutes with Jamal continuing to mount pressure. In the 115th minute substitute Alli Amisu almost scored for the visitors but Barreto was once again up to his task producing an excellent fist away on his angular shot. Jamal coach Joseph Afusi earlier brought in goalkeeper Ziaur Rahman to replace Hemel. He also made another tactical change bringing in Alli Amisu for Emeka. Alli, however, frustrated Afusi by missing to convert in the tie-breaker. Wedson, Nasir and Yasin managed to convert from the spot for Jamal while Khanthang Paite, Manish, Nirmal and Mehraj scored for Mohammedan. l
DHAKA TRIBUNE
News
Children pose with a dead fishing cat after killing the feline at Damkura area of Rajshahi. Although marked as one of the many endangered species in Bangladesh, the forestry department has failed to raise awareness among villagers to prevent such extinction DHAKA TRIBUNE
4
n Ashif Islam Shaon
Two construction workers were killed, while two sustained injuries, when a protection wall collapsed on them at the capitals Uttar Badda area yesterday afternoon. The incident took place when they were working at the basement of a building beside Badda General Hospital around 2pm.
DHAKA TRIBUNE
News
The collapse took place due to faulty construction. Besides, the workers were not wearing any safety gears
The deceased were identified as Abdul Jalil, 32, and Md Aslam, 35. Both Jalil and Aslam died on spot while Abdul Motaleb, 50, and Saddam Hossain sustained injures in the incident. The injured were rushed to the Dhaka Medical College Hospital after the incident. The workers were working around 10 feet beneath the surface. A temporary 10 inch-wide wall was built around the basement so that mud cannot slide in. Suddenly, a portion of the walls western end wall collapsed on the
Firefighters and locals dig into the rubbles of a collapsed wall in search of victims at he capitals Uttar Badda area yesterday
BANGLAR CHOKH
In 2013, Bangladeshs position was 144 of 179 countries which were in' dangerous' category, in 2012 it was 129 of 179 countries, and in 2011 the rank was 144 of 179 countries termed 'noticeable'
However, according to the international media watchdog, Reporters Sans Frontirs (RSF)'s World Press Freedom Index 2014, Bangladesh stands in 146 among 180 countries facing difficult
1st round of Bangladesh Kazi Shahid Ahmed unveils autobiography Mathematics Olympiad ends n
Rabiul Islam
WEATHER
Out of the 1,055 students coming from 22 districts, around 70 emerged from the 12th Bangladesh Mathematics Olympiad yesterday to make their way to participate in the 55th International Mathematics Olympiad (IMO). The result was announced at capitals Saint Joseph School. From the selected, around 30 will be part of camp to be held in seven divisions across the country from March 12. For SSC candidates, a separate camp will start from March 28. Based on performance, 12 participants will finally be selected for an extension campaign to be held in May from which around five best candidates will be selected to contest in the IMO to be held from July 3-12 in South Africa. It is a thrill to come first, I cannot express my feelings in words, said Nur Mohammad Safiullah, a student of Dhaka College who secured the first position and achieved the Champions
of the Champions award by obtaining the highest mark (81 out of 100) under the higher secondary category. The competition was tough, so one must take the preparations for 4-5 months to get selected, he added. Winners were awarded in four categories- primary, junior, secondary and higher secondary-with certificates, medals and crests for grabbing positions of first, first runnerup, second runnersup and champion of the champions. Samiul Bashar, a student of Scholars School and College, said: I love math. Losing the competition will not stop me from practicing math. I have learnt a lot of things which will help me in future. Some of the winners were awarded prize bonds of Tk8,000-Tk12,000 under memorial awards including Jamal Nazrul Islam memorial prize, Lutfur Rahman memorial prize, and SojolKajol memorial prize. Under the Rubiks Cube competition, three students received crests for solving questions within shortest time. l
Jiboner Shilalipi, an autobiography by Kazi Shahid Ahmed, chairman of Gemcon Group, was unveiled at Bangla Academy Auditorium in the capital yesterday. At the launching ceremony, many eminent citizens applauded his art of expression, choice of words and depiction of his real life, and hoped that readers would find many issues in the book regarding society, politics and economy. The ceremony was attended by Education Secretary Zillur Rahman Siddiqui, Professor Rafiqul Islam, Professor Jahanara Begum, Columnist Syed Abul Maksud, Samakal Editor Golam Sarwar, Kaler Kantha Editor Imdadul Haque Milon, Litterateur Debesh Roy from India, Public Administration Secretary Kamal Abdul Naser Chowdhury and Publisher of The Dhaka Tribune Kazi Anis Ahmed, among others. Professor Rafiqul Islam said it is difficult to frankly express everything of somebodys real life but Kazi Shahid has done it in an honest manner. Syed Abul Maksud said the new generation would be able to learn a lot
Kazi Shahid Ahmed poses for a photograph during the launch of his autobiography Jiboner Shilalipi at Bangla Academy Auditorium yesterday RAJIB DHAR from his book. Kazi Shahid has disclosed himself openly, which is very rare. The readers can learn about society, politics and economics from his book, he added. Samakal Editor Golam Sarwar said: Kazi Shahid has openly disclosed the poverty of his ancestral family during his childhood. He has also introduced a new kind of newspaper through publishing Ajker Kagoj, a daily Bengali newspaper. So far I have read the book, it seems to me that the book is extraordinary, Imdadul Haque Milon observed. The launching ceremony also witnessed the performances of Sadi Muhammad and Amina Ahmed. The book has been published by Agamir Prokashoni. l
PRAYER TIMES
Fajar Sunrise Zohr Asr Magrib Esha 5:15am 6:30am 12:13am 4:18pm 5:54pm 7:10pm
Source: IslamicFinder.org
DHAKA TRIBUNE
News
Artworks of 2 local artists selected for Facilities cannot keep up with rising demands; government at loggerheads with local businesses Unesco exhibition n UNB n Abu Hayat Mahmud Artworks of Rokeya Sultana and Kanak
Chanpa Chakma, two eminent women artists from Bangladesh, have been selected for exhibition at Unesco Headquarters in Paris. Unesco Director General Irina Bokova will inaugurate the exhibition on March 7. The exhibition will remain open to public till March 21. The exhibition is being organised jointly by Unesco and its member states to celebrate the International Womens Day on March 8, said a Foreign Ministry media release issued yesterday. The theme of this years celebration is Challenges and achievements in the implementation of the Millennium Development Goals for Women and Girls. The artworks of Rokeya Sultana and Kanak Chanpa Chakma have been selected to represent the Asia-Pacific region. Their artworks will be displayed alongside artworks of seven other renowned artists from Ajerbaijan, Bolivia, Benin, Bulgaria, Canada, Peru and Russia.l
Winners of 7th National Aloha Abacus & Mental Arithmetic Festival 2014 pose for a photograph at Shaheed Suhrawardy Indoor Stadium yesterday DHAKA TRIBUNE Fresh milk powder as platinum sponsor, Novoair, Igloo ice cream & Al-Hassan Diamond Gallery as gold sponsor. The strategic partner was Pressmeet. Aloha Mental Arithmetic is an internationally recognized training programme that has benefitted over five million students in 27 different countries including the USA, Australia, Spain, Saudi Arabia, India, Pakistan and Philippines. Aloha Bangladesh is the first company to bring internationally recognized and accepted Aloha Mental Arithmetic program from Malaysia to Bangladesh for the total brain development for children aged between four and 14. l
DHAKA TRIBUNE
Feature
COURTESY
Over a cup of coffee, he delves into the details of his trip. Muntasir and his biking partner Mohammad Ujjal began their trip to the US in May 2012. They set out on a 66 day trip that would cover 3,446 miles across 12 states: Washington, Idaho, Montana, South Dakota, Nebraska, Iowa, Illinois, Indiana, Wyoming, West Virginia, Virginia, and Maryland, and ending in Washington, DC. Upon completion of their tour, Muntasir and Ujjal received the Connect4Climate Special Prize in the Voices4Climate competition, and Muntasir was declared an International Climate Leader by The Climate Reality Project. Launched by the World Bank, the Italian Ministry of Environment, and the Global Environment Facility (GEF) in collaboration with more than 140 global partners in September 2011, C4C is now a global partnership programme dedicated to climate change communications. Muntasir had years of experience in both research and biking, and decided to use it to raise awareness in the US and in turn, to benefit Bangladesh. The first question here is: Why the United States? It is because they have the highest per capita plastic consumption in the world, and that effects us all the way over here in Bangladesh. Why? Because plastic-based products require a lot of water and energy, he said. Muntasir developed a phone application called Trash Maniac. If anyone sees recyclable material that has been discarded, he or she can check it in
Why the US? Because they have the highest per capita plastic consumption in the world, and that effects us all the way over here in Bangladesh
COURTESY
on the app, which notes the location where the material was found. This allows local collectors to track the location of recyclable goods and increase the efficiency of their system, Muntasir said. He used this app during his American cross-country journey. Muntasir had been planning this trip since 2008, but faced difficulties with his visa. The first time I was denied the visa, I went to biking in Brazil instead, he said. Then I went to Mexico for two months, and Australia for two months. He also spent time in Egypt and Europe biking. In 2011, he was invited for a conference in Hawaii to present his paper on marine debris a research he had been
in involved with for eight years, but was denied a visa for the third time. Nothing is the end of the world for me. When I got rejected, I went to Kashmir, for a winter trek on the Chadar river. While it was frozen over. Upon his return from Kashmir, he was notified that his US visa was ready to be picked up. At last he embarked for the trip that helped make history. He and his partner were the first Muslims and South Asians to complete a crosscountry biking tour. Before I went, I had posted on a lot of blogs regarding my travel plans. Many would respond by saying: If you are going all the way to the US, why work with waste? He laughed. But I always maintained that I am doing this
thing, and it shouldnt only be about me and for me. It should be for a greater purpose. During his time in the US, he along with the cause he was working for was welcomed warmly and much appreciated. The people were also very hospitable, with few families even offering the duo shelters. They did not have reservations about accepting offers from strangers. Of course we went! We had nothing to lose! Reflecting on the Bangladeshi populations lack of interest in curbing our basic problem of littering, he said: This problem will continue. But you go forward in your own way. The way I did. I didnt need an army for what I did, I just went ahead and did it. l
Bangladesh, however, the ratio is comparatively impressive. Through this film, I have deliberately focused more on women in the field. For example, they interview the founders of Maya, the first Bangladeshi website entirely dedicated to women, expressing the need for more encouragement and contribution from the society to empower women.
Feature presentation
Md Fahad Ifaz, co-founder of Amarcv. com, comments on the film: At first I did not know what to expect from Startup Dhaka, but after it came out, getting featured seemed more than just a cool thing. In fact, it was an organised effort to document the issues that startles any new business, the motivation and the story behind every little dream. Amarcv.com is a web-based platform where fresh graduates or any job seeker can create their CVs by simply entering required information on a step-by-step process. The idea first came to the founders mind from his observation of his relatives and friends facing difficulty in making their CVs. Among other pioneering enterprises featured in the film are Amar Desh Amar Gram, a website that links rural farmers and urban consumers, Chaldal, an online grocery store and Dugdugi, a website for listening to and downloading Bangla songs. Mustafiz addresses the act that there are only a handful of women entrepreneurs in the film. Tech startups have globally been a male-dominated sector and there is no logical explanation of why this is. In
The story of possibilities, as they refer the film, showcases the positive expectations about Bangladeshi entrepreneurship to the world
Show me the money
There are innovative entrepreneurs building inspiring business models in Bangladesh, who can disrupt industries at a global scale, like NewsCred, says Fayaz Taher, an angel investor currently based in Bangladesh. Newscred is a leading startup founded in Bangladeshi that recently raised $25m in investment. Through this film, the founders say they have tried to not only create awareness and inspire entrepreneurship, but also show the pathway to start a business, starting from getting financed. It introduces sources of funds which are quite new to Bangladesh, despite expressing concern about the lack of trust and regulatory framework needed to establish a formal angel network in Bangladesh. Angel investment is a viable funding option for startups in Bangladesh, where startups can find an angel or a group of angels here to purchase eq-
The patriots
Founders of Startup Dhaka dream of creating a better Bangladesh for all through entrepreneurship. In the future, they want to explore local ventures, which will not be restricted to technology startups only. With 160 million people and over 100 million mobile subscribers, Bangladesh is the ideal destination for innovation, and our ideas will soon turn into businesses that will accelerate our economic growth, said the first-time director. The story of possibilities, as they refer the film, showcases the positive expectations about Bangladeshi entrepreneurship to the world. This leaves only one option for the youth: to believe in their ideas, and get started. Mustafiz adds: We wanted this to be a voice saying: We are here to help you with your dreams. l
The number of female participants at the festival was inspiring, although there were far fewer women visitors. But the command the robotics ladies showed over their machines was something to celebrate
PHOTOS: NASHIRUL ISLAM
DHAKA TRIBUNE
Career
BIGSTOCK
fiscal year. These options are derived from the ability of CAs to see the business from a micro perspective with inbuilt analytical cognition. CAs in Bangladesh are used by companies in their top-level management. They serve as financial controllers, chief financial officers, internal auditors, finance directors, chief accountants, vice presidents and even CEOs. They also serve on the boards of directors of companies not just because of their image as trustworthy, sincere and dedicated professionals but also for the insight they bring into the business process. After all, if you are a chartered accountant, you have already set your bar of expectations from others at extremely high levels. To become a CA is not simply a
You dont have to necessarily be a degree holder in accounting. What is more important is the ambition and the discipline
choice; rather, one has to pass a rigorous examination process combined with practical experience. It will require commitment, self-improvement and technical accounting skills to pass through a chartered accountancy exam in Bangladesh. One of the toughest exams administered in this country, it re-
quires a blend of many positive virtues. You must be quick and neat with what you do, and your analytical skills must always be better than those beside you. You have to be able to cope with extremely complex problems, tight deadlines and must always see things through until the end. Most importantly, you have to be ambitious, practical and dedicated. Once you set the bar this high for yourself and start working to achieve that ceiling, nothing can hinder you. The rewards after you pass the exams and become an established professional will be well worth the sacrifice. Have we mentioned the financial rewards? The compensation package you receive will be more fulfilling and lucrative than anything else!
The opportunities will also follow, and casting an eye across Bangladesh, we have seen CAs serving as elected members of the National Parliament and as ministers. Mohammad Saifur Rahman, the longest serving Finance Minister of Bangladesh, was a Chartered Accountant and one of the founders of Rahman Rahman Huq (currently KPMG Bangladesh), a premier accounting firm of the country. AHM Mustafa Kamal, currently Planning Minister for the Peoples Republic of Bangladesh and elected representative of Comilla-10, is an FCA besides being the President and CEO of the Bangladeshi conglomerate Lotus Kamal Group. One misconception that needs to be cleared is that one does not need to be
Itmum Momin with fellow UWC friends at Waterford Kamhlaba in Swaziland in Southern Africa
COURTESY
I know for a fact that I left Waterford as a better human being and in essence, that is what the UWC logo and Waterfords Phoenix emblem are all about
From the globally controversial topics of abortion, racism, adoption, marriage to the issues that were controversial on campus like supervised study time and lock-up time, everyone had their own opinion. Similarly, everyone had their own value systems and moral codes and it was very interesting to see how their ones matched up to mine. There were instances where I adopted a few of theirs and there were others where I felt mine were fine the way they were. The last two years were not completely rosy. There were some horrible experiences. Rather than doing the IB programme, the IB programme was doing me! Several moments made me feel like I was just not going to make it. But I did, and I think I did fairly well. There were occasions when life
taught me quite a few lessons. This came from experiences while doing community service projects, watching friends who were homesick, relatives passing away while I was not in the country, etc. At one point, a few of us went to Mozambique for holidays and soon I almost ran out of money. There was no father to help me out, and no relatives nearby either. This was my first time living in a different country from my parents. In fact, I was living in a different hemisphere! I spent the last bit of my money at a rundown caf. I could see flies and mosquitoes flying around in the kitchen and trust me the burger I ordered did not look much better. Upon reflection, I realised just how much of an ATM machine my dad is to me. I love my dad, but I never really realised the value of money until that point; I used to ask him for money as if I was asking for something that was readily available. I have always budgeted better after this experience. However, I believe that the most important lesson that Waterford has taught me is that no matter how different people are and no matter how different the worlds they come from may be people can become the best of friends. For me this was emphasised when an Israeli and an Iranian became great
friends. They saw themselves as individuals and the conflict between Israel and the Muslim world did not matter as much. In my opinion, this makes the utopian idea of world peace achievable. This is one of the beauties of a UWC experience. The romantic idea of world peace that most people say is unachievable suddenly does not seem that lofty anymore. The other beauty of it is that there is no one UWC experience. Individuals have their own story to tell after these two years. I know for a fact that my best friends one is very different from the one that I am sharing with you. As I sat in the terminal at Swaziland for the last time I realised that the last two years were not just about the grades. Sure, the education I received was world class, but perhaps the fact that I had received a flavour of the world from the multicultural student body and teaching staff was equally important. I know for a fact that I left Waterford as a better human being and in essence, that is what the UWC logo and Waterfords Phoenix emblem are all about. As I came to this realisation, a bolt of lightning tore through the sky. I smiled and took out my boarding pass. It was just as awe-inspiring as it was the first time I saw it. l
DHAKA TRIBUNE
International
n Reuters, Rancho Mirage
President Barack Obama said on Friday he is considering new ways to pressure the government of Syrian President Bashar al-Assad as he pledged fresh US assistance to Jordans King Abdullah, whose country is reeling from the Syrian civil war. Obama and Abdullah held talks at the Sunnylands retreat, the estate of the late philanthropist Walter Annenberg, in a desert region of California. With the Syrian civil war a central focus of their talks, Obama told reporters with Abdullah seated beside him that he does not expect the conflict to be resolved any time soon and that there are going to be some immediate steps that we have to take to help the humanitarian assistance there. There will be some intermediate steps that we can take applying more pressure to the Assad regime and we are going to be continuing to work with all the parties concerned to try to move forward on a diplomatic solution, Obama said. Obama did not disclose what steps he has under consideration, but Secretary of State John Kerry said earlier while traveling in Asia that a set of new options are under discussion. We have been ramping up our support to the moderate opposition and Jordan has its own strong role to play in relationship to the moderate opposition, said a senior Obama administration official after Obama and Abdullah held two hours of talks. The official said the two leaders also discussed the rising extremist threat emanating from Syria and what might be done to counter it. With Jordan under pressure from housing more than 600,000 Syrian war refugees and facing other economic troubles, Obama announced at the outset of their talks that he intends to pro-
Twenty-five years after Soviet exit, Taliban says US will meet same fate n Reuters, Kabul
The Taliban called on Afghans to expel the United States from Afghanistan on Saturday just as they said Afghan mujahideen fighters had done to Soviet forces 25 years ago to the day. In a statement issued on the 25th anniversary of the final Soviet withdrawal from Afghanistan, a national holiday for Afghans, the Taliban sought to connect the steady departure of US and NATO troops ahead of a year-end deadline to the end of the decade-long Soviet occupation. Today America is facing the same fate as the former Soviets and trying to escape from our country, the Taliban said in a statement emailed to reporters by Qari Yousef Ahmadi, a spokesman for the group. The Islamic Emirate of Afghanistan is calling on its people to deal with todays invaders the same they did with the yesterdays invaders, he said, using the name the Taliban government used during its repressive 1996-2001 rule. In line with the so-called Geneva accords, a last convoy of Soviet soldiers crossed a bridge connecting northern Afghanistan with the then-Soviet Union on February 15, 1989. We want to remind the Americans that we did not accept invaders with their sweet and nice slogans in the past. We eliminated them from the world map. God willing, your destiny will be the same, the statement said. While US and NATO forces in recent years have pushed Taliban militants out of many areas of their southern homeland, they appear to be dug in across remote areas along the rugged Afghanistan-Pakistan border and insurgent violence continues. l
Helping to improve the position of the Syrian opposition, put pressure on the Syrian regime, is certainly part of the overall calculation
Frustrated that conditions on the ground in Syria remain horrendous, and confounded by Assads refusal to engage in serious negotiations about a transition in power, Obama has been signalling a potential shift toward a more aggressive policy. Senior administration officials who briefed reporters about Obamas talks with Abdullah said all options remain on the table short of putting American boots on the ground. Among the long-standing options has been the possibility of arming Syrian rebels. Such a step would only be applied if it would help nudge the process toward a political solution, one official said. Helping to improve the position of the Syrian opposition, put pressure on the Syrian regime, is certainly part of the overall calculation, said the official, who spoke on condition of anonymity. l
A Syrian activist group says the death toll in Syrias three-year-old civil war has reached 140,000
REUTERS
n Agencies
Syrias government and opposition have agreed on an agenda for a third round of peace talks in Geneva, despite disappointment at the little progress achieved as the second round came to an end. No date was set for the negotiations to resume, and dispute overshadowed the potential talks as the two sides debated the order in which the agendas four topics will be discussed: combating violence, transitional government, national institutions and national reconciliation. UN mediator Lakhdar Brahimiproposed devoting the irst day to a discussion of violence and terrorism, and the second to the issue of a tran-
sitional governing body. I apologise to the Syrian people...I apologise to them that in these two rounds we havent helped them very much, Brahimi said. He urged both sides to reflect and return ready to make progress in the anticipated third round. A third round without talking about transition would be a waste of time, opposition spokesman Louay Safi told reporters in Geneva, after the negotiations ended in failure. Al Jazeeras James Bays, reporting from Geneva, said the government delegation and opposition spoke for less than 30 minutes before talks ended on Saturday. It was a short, tense session, dominated by differences over how to tackle
the issues of violence and political transition, opposition negotiator Ahmad Jakal told the Reuters news agency. A Syrian activist group, meanwhile, said the death toll in Syrias three-yearold civil war has reached 140,000. The Britain-based Syrian Observatory for Human Rights said on Saturday that the dead include civilians, rebels, members of the military, pro-government militiamen and foreign fighters. The group bases its count on a network of informants on the ground. The UNs human-rights office, however, has stopped updating the death toll from Syrias civil war, saying it can no longer verify the sources of information that led to its last count of at least 100,000 last summer. l
18 Iraq soldiers, police die Barroso tells UK: Dont turn your back on Europe in attacks and clashes n
Reuters, London
n AFP, Tikrit
Eighteen Iraqi soldiers and police have been killed in targeted attacks and clashes, officials and doctors said Saturday, as the country struggles to contain its worst violence in years. Meanwhile, militants Saturday held part of the northern town of Sulaiman Bek, after security forces withdrew despite reportedly making gains in a battle for control of the area the day before. Most of the casualties occurred overnight. In the city of Tikrit, north of the capital, gunmen lured a police colonel out of his house, shot him dead, and fled the area. And militants shot dead four soldiers and wounded three who were driving in a civilian vehicle on the main highway in the area. In Sulaiman Bek, a police captain was stopped by militants and shot dead on his way to pick up relatives in the town and evacuate them to safety. In the Jurf al-Sakhr areas south of Baghdad, five soldiers died in clashes with militants. And a bomb killed five police guarding a pipeline in Baiji, north of the capital. On Saturday, meanwhile, gunmen killed a policeman and a soldier in separate attacks in the Sharqat area, also north of Baghdad. The security forces, who suffer from often-lacking training and discipline,
are the target of near-daily attacks by anti-government militants. Gunmen initially seized part of Sulaiman Bek and nearby areas in Salaheddin province Thursday, but officials said security forces regained ground there in heavy fighting the following day. Local official Talib al-Bayati told AFP security forces had succeeded in retaking militant-held areas on Friday, but then withdrew for unknown reasons. On Saturday, gunmen were in control of the towns Al-Askari neighbourhood, he said. Sulaiman Bek has been hit by numerous attacks over the past year, and was briefly seized by militants in late April. In July, 150 militants struck with mortar rounds, rocket-propelled grenades and automatic weapons, and executed 14 Shiite Muslim truck drivers on a nearby highway. Violence in Iraq has reached a level not seen since 2008, when the country was just emerging from a period of brutal sectarian killings. Another 22 people died in attacks and clashes earlier on Friday. Foreign leaders have urged the Shiite-led government to do more to reach out to the disaffected Sunni Arab minority to undercut support for militants. But Prime Minister Nuri al-Maliki has taken a hard line ahead of a general election scheduled for April. l
European Commission President Jose Manuel Barroso told Britain on Friday to engage with the European Union rather than turn its back on it, saying London should fight to try to change the things it doesnt like. Prime Minister David Cameron has promised to try to renegotiate Britains ties with the 28-nation bloc if re-elected next year and to offer Britons an in/ out referendum on EU membership by late 2017. Barroso was visiting Britain ahead of European elections in May in which the anti-EU UK Independence Party (UKIP) is expected to do well and at a time when opinion polls show a slim majority of Britons would vote to leave the EU. The right thing to do is not to turn away but to engage and see what we together can do to make it better, Barroso said in a speech at the London School of Economics. If you dont like Europe as it is, improve it.
Barroso ruled out any attempt to change the EUs rules on freedom of movement, something Cameron has said hed like to do to stop the citizens of new EU member states from tapping Britains welfare benefits.
An internal market needs all these freedoms, if not we are shooting ourselves in our feet. We cannot have a single market without the free movement of European citizens
Barroso, who is stepping down after a decade at the helm of the EU executive, said such attempts would be like shooting Europe in the foot.
An internal market needs all these freedoms, if not we are shooting ourselves in our feet, he said. We cannot have a single market without the free movement of European citizens. By underscoring the importance of free movement at a speech in the British capital, Barroso was seeking to send Cameron a message on freedom of movement. It was a message that we are not going to compromise on the principle of free movement - this is a big thing in relation to David Camerons position which seems to be that there has got to be compromise. I would see some divisions looming there, Anthony Giddens, director of the London School of Economics from 1997 to 2003, told Reuters. When asked about the euro zone sovereign debt crisis, Barroso said: The existential crisis of the euro is over. When our American partners and friends, including by the way the American president, asked at the most difficult moments, Do you think the Germans will stand by the euro? I have always
said to them: I am absolutely sure Germany will stand by the euro, he said. Barroso praised Germany for its determined support of the euro, evidence, he said, of Berlins deep strategic allegiance to the European project. In a question and answer session following his speech, Barroso was asked whetherGermany, which has resisted mutualising public debt in the euro zone, would eventually drop its opposition to the idea. As to (debt) mutualisation, it is something that Germany will not say no (to) at a later stage, Barroso said, adding he felt German acceptance of mutualisation would come gradually. There is already a principle of mutualisation but it is progressive mutualisation only at the end of the process, when all the countries have their own fund for resolution and not before, he said. So yes, I believe ... fiscal union will come at the appropriate time for the members of the euro area ... it will take time, Barroso said. l
A man works on a sculpture made of oranges and lemons on February 14, in Menton on the French Riviera, ahead of the start of the Fete du Citron (Lemon carnival). The theme of this 81st edition, running from February 15 until March 5, is 20 000 lieues sous les mers (Twenty Thousand Leagues Under the Sea) AFP
DHAKA TRIBUNE
International
The North and the South agreed to refrain from slandering each other in order to promote mutual understanding and trust
Pyongyang calls the exercises a rehearsal for invasion, while Seoul and the US say they are defensive in nature. Both countries negotiators, however, made concessions to achieve the agreements. Chief South Korean delegate Kim Kyou-hyun told reporters in Seoul that North Korea withdrew its insistence that the reunions be delayed because of the drills. The first step towards trust building is the reunions of the separated families, so we persuaded [the North] that we should trust each other and hold the event as scheduled, and the North Korean side agreed with us, said Kim Kyou-hyun. Several thousand Koreans were displaced and separated during the 195053 Korean War, and since then many across the border have lost contact with each other. l
North Korea has shrugged off years of continuous outside pressure, including tough UN and US sanctions The UN has not yet confirmed its accuracy but North Koreas UN mission has rejected the reported findings. The document, AP says, does not talk in detail of individual responsibility but recommends steps towards accountability. It concludes that the testimony and other information it received, create reasonable grounds ... to merit a criminal investigation by a competent national or international organ of justice, AP said. The commission, the news agency reported, recommended the UN Security Council refer its findings to the International Criminal Court. Its publication could pile international pressure on North Korea, whose rights record has drawn less censure at the UN than its nuclear and missile programs. The secretive countrys hereditary regime, however, has shrugged off years of continuous outside reproach, including tough UN and US sanctions directed at its weapons programs. The three-member commission, led by retired Australian judge Michael Kirby, was set up by the UNs top human rights body in March 2013. It conducted public hearings with more than 80 victims and other wit-
AFP
nesses in Seoul, Tokyo, London and Washington, but was not allowed into North Korea itself. As well as speaking to defectors, the commission heard from experts about a network of camps, estimated to hold 80,000 to 120,000 political prisoners, and about access to food in a country where many children suffer from malnutrition. When the UN Human Rights Council authorised the commission to begin its work, North Korea denounced it as politically-motivated by hostile forces trying to discredit it and dismantle its socialist system. l
India prosecutors want new charge in French child rape case n AFP, Bangalore
Prosecutors asked an Indian judge Saturday to allow them to bring an additional charge of sodomy against a French consular official who has been accused of raping his three-year-old daughter. Special public prosecutor B.T. Venkatesh said that the judge Shubha Gowdar had admitted his application to bring the additional charge against Pascal Mazurier during a brief hearing in the southern city of Bangalore as there was prima facie evidence of him committing sodomy. The judge had then told Mazuriers defence team to file any objections to the prosecutions application at the next hearing of the court which was set for February 24. The judge is expected to set a trial date once a final decision has been made on whether to allow the additional sodomy charge, the prosecutor added. Mazurier had on Monday pleaded not guilty to allegations that he raped his daughter in a case that dates back to June 2012. The 40-year-old was arrested on a complaint filed by his wife and spent four months in jail before being released on bail. Mazuriers lawyers had argued there was insufficient evidence against him, but the judge ruled in January that there was a prima facie case against him. l
Thai protesters to press Kerry meets Chinese bloggers on with campaign squeezed by Internet controls
n Reuters, Bangkok
Anti-government protesters vowed on Saturday to maintain their campaign to unseat Thai Prime Minister Yingluck Shinawatra despite dwindling numbers on the streets and a first tentative move by police against sites they are occupying in Bangkok. Riot police reclaimed a thoroughfare in the capitals government district on Friday without resistance, but backed off from confrontation elsewhere in the city and made no move against the largest protest sites at intersections in the main shopping and business areas. Our mission is still going on, which is to reform the country, Ekkanat Promphan, the protesters spokesman, told reporters. All protest site are still occupied by us and we will still continue our activity during the weekend. The protesters view Yingluck as a proxy for her elder brother, Thaksin Shinawatra, a self-exiled former prime minister who clashed with the establishment before he was overthrown by the army in 2006. They are demanding that Yingluck makes way for an appointed peoples council to overhaul the political system and rid it of the influence of Thaksin, a telecoms billionaire they accused of using taxpayer money to buy votes with populist giveaways. Riot police lined up on Saturday near a protest site at a government complex in north Bangkok, scene of a tense stand-off on Friday morning, but made no attempt to move in. National Security Council Chief Paradorn Pattanathabutr said later that the authorities had called off the operation and were hoping to hold talks with the local protest leader at the site, a Buddhist monk, on Sunday. We have already called off the plan to reclaim the site since there were several factors that could disrupt the operation, Paradorn told reporters. Moreover, police who were working at the...site told me that they are trying to persuade the monk to sit down and talk again tomorrow. Tarit Pengdith, chief of the Department of Special Investigation, Thailands equivalent of the FBI, told a news conference that protesters would not be dispersed by force. The protests, which began in November, are the latest round in a bitter eight-year conflict broadly pitting the Bangkok-based middle-class and royalist establishment against the mostly rural supporters of the Shinawatras in the north and northeast. Haunted by memories of a bloody 2010 crackdown by a previous administration that killed dozens of pro-Thaksin red shirt activists and anxious to avoid giving the coup-prone military a reason to intervene, the government has largely avoided confrontation. Despite that, 11 people have been killed and hundreds hurt in sporadic clashes. The past week has been quiet with most protest sites dotted around Bangkok thinly attended during the day. l
n AFP, Beijing
Chinese bloggers urged US Secretary of State John Kerry to push for greater freedom online in China during a rare meeting in Beijing Saturday, asking for help to tear down the great Internet firewall. The roundtable discussion, organised by the US Embassy, was a unique opportunity for the top diplomat to hear directly from Chinas bloggers amid reports that Beijing is stepping up its efforts to clamp down on political dissent.
Chinese microblogs similar to Twitter have become key drivers of public opinion in recent years
The meeting came a day after Kerry held talks with senior Chinese leaders including President Xi Jinping and Foreign Minister Wang Yi, during which he called on Communist Party authorities to improve their human rights record. Zhang Jialong, a reporter at Tencent Finance who was one of four bloggers taking part in the discussion, urged
the United States to support Chinese who aspire for freedom and help tear down the great Internet firewall. Zhang also accused US companies of helping China block access to social networking sites such as Twitter and the Internet in general. Kerry said he had not heard of such moves, but promised he would check. In the 40-minute meeting, Kerry also heard from Ma Xiaolin, a former journalist at Chinese state news agency Xinhua, who said that the Internet was his main form of communication. He complained about the limits on Internet freedom in China, and urged Washington to use its sway to ease the squeeze. Kerry told reporters Friday that in his discussions with the Chinese leadership he had a frank discussion about some human rights challenges... and the free flow of information in a robust, civil society which included some of the challenges of the cyber world that we live in today. I emphasised that respect for human rights and for the exchange of information in a free manner contributes to the strength of a society in a country, he told reporters after his meetings in Beijing. Chinese microblogs similar to Twitter have become key drivers of public opinion in recent years, with bloggers drawing attention to official corruption, pollution and other issues that challenge Chinas ruling Communist
Party. The rising influence of microblogs has been accompanied by the emergence of celebrity users with verified accounts, known as Big Vs. Wang Keqin, who was fired from his job at the Economic Observer last year after he reported on the cause of flash floods that hit Beijing in 2012, said at times he believed he had a price on his head for his work as an investigative reporter. Internet freedom was going backward, there is less of it, he told Kerry. Chinas ruling party, which has provided more room for public debate in recent decades, has long been engaged in a cat and mouse game with Internet users, tightening restrictions in periodic crackdowns before new forums emerge to challenge such restraints. And the rising popularity of microblogs such as Sina Weibo has triggered a government-backed campaign to assert greater control over social media. Last year Chinese-American investor Charles Xue, who had more than 12 million followers on his microblog which was heavily critical of the government, was arrested on charges of soliciting prostitutes. State media insisted at the time that his arrest had no connection with his online presence, but government-run broadcaster CCTV showed him in prison clothes while under detention, confessing that he had used microblogging to gratify my vanity. l
10
www.dhakatribune.com
DHAKA TRIBUNE
Editorial
LETTER OF THE DAY
Letters to
the Editor
Green banking
February 13 Through your esteemed newspaper I would like to bring to the notice of all the concept of Green banking. It means promoting environment-friendly practices and reducing your carbon footprint from your banking activities. This comes in many forms. Using online banking instead of branch banking, paying bills online instead of mailing them, opening up CDs and money market accounts at online banks, instead of at large multi-branch banks, or finding the local bank in your area that is taking the biggest steps to support local green initiatives. Any combination of these personal banking practices can help the environment. In Bangladesh, Bangladesh Bank has been working on this from 2012. If they can finish their projects successfully, we will be able to save a huge amount of money every year as there will be many cost effective features included in its Green Banking concept. Thanking you, Nahid Hasan, Kaisar Mahmood and Asif Imran Ruben MBA Program, East West University
he state owned gas provider, Titas, is due to start a new drive against illegal connections in its franchise area. It estimates these consume 200m cubic feet of gas per day, causing daily losses of several hundred crore taka for the government. However, the problem of illegal connections is only a symptom of inefficiency in the countrys gas supplies, it is not the cause. Gas, like diesel and power, is not priced efficiently or prudently. Ill targeted subsidies and inefficiencies create perverse incentives which enable and encourage waste and poor service to customers. An artificially low price enables households to waste precious gas supplies by leaving burners on unnecessarily, and this inefficiency extends throughout the system. The consequences in terms of hardship for businesses and consumers are widespread cuts and fluctuations in supplies. Despite occasional crackdowns, officials of Titas, remain alleged to be complicit in enabling new and/or illegal connections themselves, whilst the company is slow in increasing capacity and infrastructure. While combating corruption and improving efficiency may help, the root cause of the sectors inefficiency lies in pricing policy. It does not make sense to subsidise gas or other non-renewable energy sources. This only uses up scarce resources and increases fossil fuel emissions. Gas must be priced properly to discourage waste and improve efficiency. Proper pricing is needed to provide the funds needed to modernise supplies and incentivise companies to become efficient. It will also stimulate more private investment in renewables and allow taxpayer funds that are currently wasted to be targeted to help consumers in need.
Mission Hatirjheel
February 11 Good initiative, and great news! We are waiting for this game! :D Delower Hossain
February 9 Good. He is not performing well, and he doesnt seem to correct the mistakes that he made over and over again. An extra burden of vice captaincy would cause even more pressure. Ahammed Imran Hassan
Write to us at: Dhaka Tribune FR Tower, 8/C Panthapath Sukrabad, Dhaka-1207 Email us at: letters@dhakatribune.com Send us your Op-Ed articles: opinion@dhakatribune.com Visit our website: www.dhakatribune.com Come join our Facebook community: https://www.facebook.com/DhakaTribune
Be Heard
Extra-judicial killings damage rule of law. They need open and thorough investigation
PEANUTS
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ACROSS 1 Employer (4) 5 Useless remains (5) 8 Tempt (6) 9 Observed (4) 10 Old French coin (3) 12 Abstract (6) 13 Dry inflammable matter (6) 15 Rarely (6) 18 Goes by (6) 20 Flightless bird (3) 21 Grassy expanse (4) 23 Turned away (6) 24 Undressed kid (5) 25 Stains (4) DOWN 1 Infatuate (5) 2 United (3) 3 Harsh (5) 4 Transgression (3) 5 Longs for (7) 6 Otherwise (4) 7 Close (4) 11 Norwegian capital (4) 12 Merit (7) 14 Muslim leader (4) 16 Daybook (5) 17 Repairs (5) 18 Church seating (4) 19 Certain (4) 21 Was ahead (3) 22 Tiny (3)
SUDOKU
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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.
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DHAKA TRIBUNE
Op-Ed
11
There seems to be a peculiar inability to comprehend that the equality stated is in terms of the reward
BIGSTOCK
n Esam Sohail
ne of the more profound laments of anguish I heard from a South Asian expatriate was the pithy observation that how can we move forward when our language, perhaps uniquely of all, uses the same colloquial word for yesterday and tomorrow? That word kalke denotes both the day past and the day to come in regular Bengali, albeit the suffixes gataand agami- are appended for more accuracy in the formal language. This unheralded quirkiness of our language does provide a glimpse of a culture that is rich and elaborate but hopelessly anchored in an idealised past while fighting battles that have but limited relevance in the new century. Outside of the purists of culture and religion, most observers will find it silly that so much of our national energy is spent on endless seminars about what happened 1,400 years ago or 40 years ago, with all such seminars invariably reaching the same conclusion: The sorry state of affairs is the fault of the Pakistanis, the British, the Mughals, the Greeks and so on and so forth. Compare Bangladesh to none other than Asian giants like Japan and Korea both literally demolished to the
ground in international wars, and you see a trajectory of development that is breathtakingly different. In both the cases of Korea and Japan, within a period of four decades after their respective dnouements, powerful economies and pluralist democracies emerged slowly, steadily, but surely. Does that mean that those two societies, even more ancient than ours, did not value their heritage or culture?
Future-looking would have meant celebrating the past without losing sight of the future, preserving the richness of Bengali without destroying the English language ability of two generations of people, and crafting a pluralist democracy without obsessing about whose long deceased father was a Razakar or Mmurtad. Taking the future in both hands would have signaled a cold stop to the national pastime of blaming the
This unheralded quirkiness of our language provides a glimpse of a culture that is rich and elaborate but hopelessly anchored in an idealised past
On the contrary, they decided that a real celebration of their past glory was to build a grand future. So, while we were debating who declared independence and what the length of a pious mans beard should be, Korea was graduating into building top-notch cars and Japan was becoming the worlds top economy. To a lesser extent, that has also been the story of Singapore, Malaysia, and the Philippines.
bogey of colonialism and imperialism for every ill of society and, instead, focusing on our own drastic shortcomings. Ask yourself a simple question. For all the cultural programs and seminars on Amar Ekushey decade after decade, could the Bengali language have been better served if those same resources were poured into creating a top notch translation software for science and
technology journals which are invariably written in English? Or perhaps the resources expended on the fruitless who declared independence in 1971 question could have been utilised on fulfilling the direct and unambiguous command of the constitution to establish an office of a national ombudsman? And those are only the most obvious examples. Resting on an idealised remembrance of the past, or endlessly fighting the irrelevant battles of yesteryears, is emotionally satisfying and gives many an intellectual a sense of utility at a pompously titled seminar or symposium. Beyond that, such activities simply take away the finite resources material and emotional of a people to move forward. A great British statesman said it well that if we spend the present bickering over the past, we will invariably lose the future. The world is moving into the agami-kaal; we cannot afford to get stuck in the gata-kaal, no matter how wonderful it makes us feel. It is a hypercompetitive globe. You do not get a medal for having a glorious culture, a beautiful religion, or a rich past. Results matter, remembrances dont. l Esam Sohail is an educational research analyst and college lecturer of social sciences. He writes from Kansas, USA.
The writer of the article would have suffered much had he written this for a Bengali newspaper. However, he was shrewd enough to know that English newspapers in Bangladesh are usually read only by tolerant intellectuals who have greater digestive powers, and therefore the probability of problems surfacing was little. Later we saw an article, from the same author, on how Islam probably does not condone polygamy. And then came another piece from yet another writer who claimed that feminism and Islam have but nothing incongruent in-between them. I wonder what is coming next! I can suggest a few titles myself! How about: Does Islam really dislike homosexuality? or Is drinking really forbidden in Islam? Who cares about what Imam Ghazzali thinks, or Imam Bukhari, or the millions of scholars who have expounded Islam for the past 1,500 years? There seems to have emerged a perverse movement to prove that Islam does not confront the mainstream philosophies of life in the Occident. How is it done though? It is done through fabricating false explanations and mentioning only the supporting examples hiding the contradictory ones. I would like to state here one of many possible examples of deliberate or inadvertent efforts to misconstrue verses from the Quran by one writer in his Must Islam and feminism contradict? (Dhaka Tribune, February 15). In asserting that Islam supports the supposed equality of the sexes, the following famous verse (Chapter 16, verse 97) is used: Anyone who works righteousness, male or female, while believing, we will surely grant them a happy life in this world, and we will
Islam very conspicuously distinguishes between men and women, and their respective roles in society
I am used to confronting open vilification of Islam from straightforward enemies, but not such covert and sly attacks which are but machinations to promote a completely false image of the glorious religion. I sincerely request all such intellectuals to stop disseminating lies about Islam. l Muhammad Eusha is an HVAC specialist and a DT columnist.
Instead of choosing sides, why not choose ideals? Togetherness, forgiveness, and honesty?
Instead, Id like to see a politics based on basic ideas of justice for all and not just the victor. A politics based on egalitarian values of respect, and equality regardless of wealth, and political and social connections. A politics where the dogmatism, if it must remain, is to uphold the value of human life, dignity, and rights. Above all a politics based on unity and dialogue. Any government that comes into power wherever is not only ruling over their cadres and supporters. Their duty is towards the jonogon, a word that is being misused in the public arena to such an extent that it holds almost no meaning. It is in the interest of their supporters and detractors that governments need to rule, and that is
Why must we choose sides if neither of the big parties, nor the myriad of the smaller ones, represent our ideals, interests, or elicit our sympathy?
It is this sort of hyper-nationalism that is perhaps the root of the problem in many ways. It posits an us or them narrative, which resonates very well
12
DHAKA TRIBUNE
Entertainment
BAYEZID WAHEED
Celebrated actor Afzal Hossain talks about his realisation and personal experience about love on the occasion of Valentines Day at Code:Love exhibition at the Bengal Art Lounge. Code:Love is designed to encourage visitors to participate in and connect with the exhibits using smart phones and code scanners. Bengal Art Lounge, Carefountain and a team of collaborators have created the exhibition of encrypted messages and audio-visual installations. In the medium of each work is the message; the codes, sounds and lights are all statements on the commercialisation of romance and the role of technology in human relationships. l A scene from dance drama Premamritam
A scene from Karma Coffee Omi (Ulfath Kuddus). Omi and Ansari spend time together and find common ground. Searching for unprecedented of the power of the saint love. Additionally, with his funny laugh and broken English, the waiter Babu (Baizid Joarder) brought much humour to his character. And the care and love of Yasmeen Aunty (Neeta Mannaf) for the people in her caf dominated the scene. Meanwhile, Samiya and her husband Javeds (Mashur Rahman) portrayal of the strong relationship of their marriage supported Ansaris quest. The play was a tingly comedic study of human nature, talking about celebrating relationships and emotions, and searching for oneself by understanding others. The title Karma Coffee is about how good deeds contribute to good karma and future happiness, while bad intentions and bad deeds contribute to bad karma and future suffering. The play closed on an upbeat note when Nazia played two songs, Let It Be and Fools Rush In, for the jampacked audience. The story turned in hilarious manner, while the dialogue featured sarcasm and humor. The actors performances were applauseworthy. l
TODAY IN DHAKA
Film
The Hobbit: The Desolation of Smaug, Thor: The Dark World, Pacific Rim in 3D, The Conjuring, The Hunger Games: Catching Fire, Escape Plan Time: 10am 10pm Star Cineplex, Level 8 Time: 3pm 8pm Dhaka Art Center (DAC) House-60, Road-7A Dhanmondi R/A A Life Like that of a Dragonfly By Sanjib Datta Time: 12pm 8pm Bengal Gallery of Fine Arts House 42, Road 16 (New) / 27 (old) Dhanmondi
Exhibition
ON TV
MOVIE
5:30pm Star Movies
The Mummy 3
9:30pm HBO
DRAMA
10:30pm Sony
Maharana Pratap
Sport
27 47 13 43 1 41 6 0 12 4 10 8 212 126 81 9 216
DHAKA TRIBUNE
13
0 2 8
DAYS TO GO
14 Maradona
SCORECARD
Afghanistan Under-19s innings Usman Ghani run out (Mosaddek) Mujtaba b Mosaddek Ihsanullah c Joyraz b Abu Haider Hashmatullah b Mosaddek Hossain Younas c Mustafizur b Mosaddek Nasir Ahmadzai* run out (Litton) Waheedullah run out (Mosaddek) Sharafuddin c Joyraz b Rahatul Muslim Musa c Shadman b Rahatul Abdullah Adil run out (Litton Das) Sayed Shirzad not out Extras (lb 4, w 4) Total (all out; 50 overs)
Bowling Mustafizur Rahman 9 0 42 0, Abu Haider 6 0 41 1 (1w), Mehedy Hasan 8 1 37 0 (1w), Rahatul Ferdous 7 0 382 (1w), Nihaduzzaman 10 1 31 0 (1w), Mosaddek Hossain 10 1 19 3 Bangladesh Under-19s innings Shadman Islam not out Joyraz Sheik not out Extras (lb 1, w 7, nb 1) Total (0 wickets; 42.3 overs)
SQUAD
Mushfiqur Rahim (Capt), Tamim Iqbal, Anamul Haque, Shamsur Rahman, Mominul Hoque, Shakib al Hasan, Nasir Hossain, Mahmudullah, Sohag Gazi, Arafat Sunny, Mashrafe bin Mortaza, Rubel Hossain, AlAmin Hossain, Naeem Islam, Shafiul Islam
Bowling Abdullah Adil 9 1 50 0 (1nb, 1w), Sayed Shirzad 9 0 59 0 (3w), Muslim Musa 4.3 0 26 0, Sharafuddin Ashraf 10 032 0, Mohammad Mujtaba 8 0 34 0 (1w), Hashmatullah Shaidi 2 0 14 0 (1w) Bangladesh U 19s Shadman Islam (file photo) scored an unbeaten 126 against Afghanistan in their U 19 World Cup opener in Abu Dhabi yesterday COURTESY
I had informed my decision to the board. It was on them to decide on my move. The ODI series is important for us and for me as I havent been able to play up to my ability in the previous games, said Tamim to the Dhaka Tribune yesterday. Starting tomorrow all the matches will be played at the Sher-e-Bangla National Stadium. The second and third match will be played on February 20 and 22 respectively. l
SCORECARD
Australia, first innings, 397 South Africa, first innings, 206 Australia, second innings
(overnight 288 3) C. Rogers b Steyn S. Marsh c De Villiers b Steyn M. Clarke not out Extras (b3, lb14, w7)
Total (4 wkts dec, 72.2 overs) Bowling
Philander 11 2 28 0, Steyn 14.2 2 61 2 (1w), McLaren 11 0 47 0 (1w), Morkel 13 4 38 0, Peterson 19 1 87 1 (5w), Duminy 4 0 12 1
South Africa, second innings
A. Petersen c Haddin b Johnson G. Smith c Doolan b Johnson H. Amla c Marsh b Harris F. du Plessis lbw b Siddle A. de Villiers c Clarke b Johnson J. Duminy c Doolan b Johnson R. McLaren c Haddin b Johnson R. Peterson b Siddle V. Philander not out D. Steyn c Marsh b Harris M. Morkel run out (Lyon) Extras (b10, lb5, nb1, w11)
Total (59.4 overs) Fall of wickets
1 4 35 18 48 10 6 21 26 3 1 27
200
BRIEF SCORES
Sylhet v Dhaka Div Dhaka (1st innings) 100 all out in 39.4 overs Sylhet (1st innings) 356 all out in 110.3 overs Dhaka (2nd innings) 269 all out in 85 overs (Rakibul 54, Nasum 4/60, Jayed 4/82) Sylhet (2nd innings) 14/1 in 3.3 overs, (Rumman 6*, Nurul 1/3) Sylhet won by nine wickets Dhaka Metro v Barisal Metro (1st innings) 400/ 9 declare in 119.2 overs Barisal (1st innings) 249/9 in 102 overs (Rabbi 121, Nayeem 70, Bakker 5/25) Metro (2nd innings) 106/4 in 27 overs, (Sunny 31, Marshall 26*, Ahsan 3/22) Dhaka Metro lead by 257 Runs
1 6 (Petersen), 2 12 (Smith), 3 49 (Du Plessis), 4 97 (Amla), 5 128 (Duminy), 6 140 (McLaren), 7 151 (De Villiers), 8 165 (Peterson), 9 178 (Steyn)
Bowling
Sharda Alam (2L) receives the womens singles trophy at National Tennis Complex yesterday COURTESY
Harris 12.4 5 35 2 (1w), Johnson 163 59 5 (1nb, 2w), Siddle 16 6 55 2, Warner 2 0 3 0, Lyon 13 1 33 0
Result
Dhaka resumed the day on 111 for three in their second innings and reached 269 before getting bowled out in front of some controlled spin bowling from Abu Jayed and Nasum Ahmed. Jayed and Ahmed claimed four wickets each. Sylhet was set a target of 13 runs
At Fatullahs Khan Shaheb Osman Ali Stadiums outer ground, Barisal were cruising along with a superb third wicket partnership between opener Fazle Rabbi and Iftekhar Nayeem before left-arm spinner Abu Bakkar wrecked through their innings with a five-wicket haul. Barisal ended their first on 249 for nine. Mohammad Sajib hurt his finger while fielding and could not bat. Resuming on 109-2, Fazle carried on and scored 121 while Iftekhar made 70 as they added 159 runs together. Metro, with a massive 400 in their first innings, ended the day at 106 for four in their second innings withMarshal Ayub and Tasamul Haque unbeaten on 26 and 10 respectively. Off spinner Islamul Ahsan picked three wickets for Barisal. l
14
Fulham hire Magath as Rene sacked
Fulham took dramatic action Friday in a bid to preserve their Premier League status by sacking Rene Meulensteen and bringing in Felix Magath as their new manager with just 12 games of the season left. Former Manchester United head coach Meulensteen had been in charge of the Cottagers for little more than two months after being promoted from within the west London clubs backroom staff to replace fellow-Dutchman Martin Jol on December 1. AFP
DHAKA TRIBUNE
Sport
SCORECARD, DAY 2
New Zealand 1st innings 192
K. Williamson 47; I. Sharma 6 51, M. Shami 4 70
Fall of wickets 1 2, 2 89, 3 141, 4 162, 5 165, 6 228, 7 348, 8 385, 9 423, 10 438 Bowling Boult 26 7 99 3 (2w, 1nb), Southee 20 0 93 3, Wagner 22.4 3 106 3 (1nb), Anderson 16 2 66 0 (3w), Neesham 18 2 62 1 (1w)
India Ajinkya Rahane celebrates his first Test century against New Zealand on the second day of their second Test in Wellington, New Zealand yesterday AP
FIXTURES
Catania Atalanta Cagliari Genoa Juventus Sassuolo Roma v v v v v v v Lazio Parma Livorno Udinese Chievo Napoli Sampdoria
Juve coach Antonio Conte will expect nothing less than three points from his side at home to Chievo, although his plans to give Mirko Vucinic a rare start fell flat after the striker was ruled out for several weeks with a sprainted knee.
Conte could reshuffle his midfield trio of Paul Pogba, Arturo Vidal and Andrea Pirlo by bringing in Claudio Marchisio, according to reports. Napoli are third, four points adrift of Roma and 13 behind Juve, and are also in action on Sunday away to relegation-threatened Sassuolo. In Saturdays only game, Fiorentina host Inter in a match deemed important for both sides chances of qualifying for Europe next season. Fiorentina are fourth, three points behind Napoli, but with an eight-point lead on Walter Mazzarris men. Struggling Milan, meanwhile, host Bologna on Friday in a match brought forward due to the Champions League first leg last 16 clash at home to Atletico Madrid on Wednesday. l
AC Milan's coach Clarence Seedorf (R) talks to Mario Balotelli during their Italian Serie A match against Bologna at San Siro Stadium in Milan on Friday REUTERS
Former Argentine player Diego Maradona (C), his lawyer Angelo Pisani (L) and member of the European Parliament Crescenzio Rivellini (R) pose with an European Union flag after a news conference at the European Parliament office in Rome on Friday REUTERS
DHAKA TRIBUNE
Sport
15
Not punching blokes is way forward for reformed Warner
Another century for David Warner was further proof of a growing maturity in both his professional and personal life, the opener said after a quickfire ton on Friday put Australia in a commanding position in the first test against South Africa. Probably not going out and punching blokes at a club sums it up, he told reporters of his transition from the enfant terrible of the team less than a year ago to a key player in Australias march to a formidable 479-run lead after the third day at SuperSport Park. I put a lot of credit down to a lot of hard work with my batting coach back home and also my conditioning trainer. Also since Ive settled down with Candice, things have been fantastic there. The way she prepares for her sport influences me to knuckle down and be the best I can at the moment. His partner Candice Falzon is a professional endurance athlete who competes in ironman competitions. Im scoring runs more consistently now, although Id like them more in the first innings than in the second innings but Im just enjoying my cricket at the moment and enjoying winning games for Australia. The 27-year-old Warner smashed 115 off 151 balls on Friday as he thrashed South Africans bowlers to all corners of the ground, although he survived three catching chances. It was a marked transformation from June last year when he was fined and almost sent home before the start of the Ashes series in England after punching England player Joe Root in a Birmingham night club. Warner was suspended for a month but was spared the embarrassment of becoming the first player ever sent home from an Ashes series. He denied a drinking problem but was out of sorts in his three test appearances, amassing just 128 runs as England won the series comfortably. Warner bounced back in the followup Ashes series over the Australian summer with a century in the first test in Brisbane, another in Perth and ended as his teams top run scorer in the 5-0 whitewash with 523 at an average of 58.11. He has shown no loss of form at the start of the three-match series against top-ranked South Africa. l
QUICK BYTES
Australia pacer Mitchell Johnson celebrates after taking the wicket of South Africa's Petersen, during the 4th day of their first Test at Super Sport Park in Centurion yesterday
AFP
Andy Murray of Britain waves hand to the crowd after his quarter final match at the ABN AMRO World Tennis Tournament in Rotterdam, The Netherlands, on Friday AFP
DAYS WATCH
Sony Six 3:30AM (Monday) New Zealand v India 2nd Test: Day 4 Ten Cricket 2:30PM South Africa v Australia 1st Test, Day 5 Star Sports 4 12:50 PM Sochi 2014 Winter Olympic Games Day 9 8:00PM Italian Serie A Juventus v Chievo Verona 10:00PM FA Cup Arsenal v Liverpool La Liga 12:00AM Athletic Bilbao v Espanyol 2:00AM Sevilla v Valencia Star Sports 2 11:15AM ICC U 19 World Cup England v Sri Lanka 10:00PM La Liga Getafe v Real Madrid 1:45PM Italian Serie A AS Roma v Sampdoria Ten Sports French Ligue 1 10:00PM Evian Thonon v Losc Lille 2:00AM St Etienne v Olympique Marseille
Pakistani blind wicketkeeper Nisar Ali (CL) tries to stop a sweep shot of Indian blind cricketer Ajay (CR) during their match at the Baghe-Jinnah cricket ground in Lahore yesterday. A 17-man Indian squad are in Pakistan to play a series of three Twenty20s and as many one-day matches in Pakistan in their first visit for three years AFP
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DHAKA TRIBUNE
Back Page
A child uses a wooden trolley to transport books to and from book stalls at the Amar Ekushey Book Fair yesterday
126
Prime Minister Sheikh Hasina expressed profound shock at the deaths of school children
The deceased was Riachh Tripura, 13, a student of Alutilla Junior High School, said Matiranga police station Officer-in-Charge Mohammad Mainuddin. Locals rescued the injured and took them to Matiranga Upazila Health Complex and Khagrachhari Adhunik Sadar Hospital. According to our Lalmonirhat correspondent, a businessman riding on a motorcycle was killed when a truck hit him in Patgram town of the district. The deceased was Alam Hossain, 45. Police said a Dhaka-bound truck from Burimari Land Port hit his motorcycle while he was crossing the road. A case was filed in this connection. l
n Ahmed Zayeef
While hundreds of children along with their parents thronged the fair during the shishu prohor (childrens hour) yesterday, a number of street children were found struggling to earn a little money by doing small businesses inside the fair. Eight-year-old Md Alam collects scrap bottles inside the Bangla Academy. While collecting scrap bottles he watches children joyfully buying books from the stalls. He lives in front of the High Court with his mother, who also collects scraps, and studies in class one at Shegunbagicha Ideal School. I come here every day after class. After collecting bottles me and my mother go to Puran Dhaka to sell the
bottles and buy food for us. I do it every day as my mother cannot gather a lot of bottles alone, Alam said. I can read now and I love to read. But I do not have money to buy the colourful books. However, I will buy a lot of books one day when I will start earning, he added. Like Alam, a number of street children gather at the Amar Ekushey Book Fair every day. Some of them sell flowers, some collect scrapped bottles, while some carry books to different stalls. These children, who are studying in different schools run by different social welfare organisations, cannot afford to buy books although they are capable to read. The fair has become a new spot for them to earn livelihood but unfortunately the festivity of the fair does not really matter in their lives. The Bangla Academy authority celebrated its second Shishu Prohor yesterday from 11am to 3pm, four hours exclusively dedicated to children. The children were found putting on designs with water-colour and paint brush on their cheeks and hands.
Simultaneously, at the Doyel chottor, the street children were found waiting for publishers to carry books to the stalls on their handmade trolleys-a new medium to make money developed at the fair. Hridoy, a class three student who lives in the capitals Anondobazar slum, said: My father is a day labourer, but whatever he earns is not enough to run the family. Every day I earn Tk100-150 by carrying books to help my father. Before the fair started I used to work in a hotel near my house. Maria and Marjia, two sisters were found selling flowers in front of the Surawardy Udyan. They come here every day from the Kamrangirchar slum. Maria, the elder one, said: Our father died a few years ago in a road accident. Now my mother looks after us. We help her by selling flowers. A total of 126 books hit the fair yesterday, the fifteenth day of the fair while 17 books were unveiled at the Nazrul Mancha. A discussion on Lalon Shah was held presided over by former Vice-Chancellor of Rabindra Bharati University Professor Pabitra Sarker at the central stage. l
Over 600 secretly admitted in private med schools after deadline expires
Colleges ignore the cut-off mark for admission set by ministry Dr ABM Abdul Hannan, director sion of students with scores as low as 110. n Moniruzzaman Uzzal Senior officials of the health ministry (medical education and manpower
Several private medical colleges have allegedly admitted students with scores as low as 110, ignoring the cut-off mark of 120 set by the health ministry. Sources said several medical and dental colleges have secretly admitted around 600-700 students who had scored as low as 110. The fresh admissions came as the original deadline for private medical and dental colleges expiring yesterday. Among those who allegedly violated the admission cut-off mark, Samorita Medical College, a Dhaka-based private medical school, openly flouted ministry directives by publishing advertisements on national dailies calling for the admisand the Directorate General of Health
BPMCA secy gen says no new student will be admitted in violation of the previously set cutoff mark, before a full copy of the High Court verdict is received
Services (DGHS) told the Dhaka Tribune that they had noticed the advertisement, which they termed illegal and a clear violation of the ministry directive.
development) of the DGHS, said the ministry had been informed about the advertisement and the private medical college has also been asked to clarify how they published the advertisement, violating the direction of the ministry. Aiyubur Rahman, an additional health secretary, told the Dhaka Tribune that the health ministry had not issued any instruction to admit students with a score of 110, adding that the Bangladesh Private Medical College Association (BPMCA) failed to produce any document despite claiming that the High Court had issued an order in this regard. Shah Md Selim, secretary general of the BPMCA, yesterday said the high
court had issued an order to the health ministry for allowing students in private medical and dental colleges with the score of 110. However, he said no new student would be admitted in violation of the previously set cut-off mark, before a full copy of the verdict was received. Selim said the BPMCA would submit an application to the health ministry to further extend the admission deadline, which had already been extended several times before. He hoped to get the full copy of the High Court judgement within a couple of days, which would be submitted to the ministry along with the application for time extension. However, 600-700 seats would re-
main vacant even after the cut-off mark would be lowered, Selim added. Seeking anonymity, several senior officials of the BPMCA told the Dhaka Tribune that the ministry did not respond to their previous application for relaxing the original cut-off mark of 120. On February 9, the BPMCA held a meeting in the city, where statistics revealed that a large number of seats were vacant at different medical colleges. The Sikder Medical College had around 40 to 50 seats vacant, while there were 45% vacant seats at TMMS Medical College, 40-50% at City Medical College, 35% at Munnu Medical College, 50% at Southern Medical College, 25% at East West Medical College, 20% at Taerunessa Medical College, 50%
at North Bengal Medical College, 50% at Shahabuddin Medical College, 50% at Mainamoti Medical College, 15% at Eastern Medical College, 60% at MH Samorita Medical College, 45% at Dr Sirajul Islam Medical College, 45% at Northern International Medical College, 50% at International Medical College and 60% at Nightingale Medical College. In accordance with a decision reached at the meeting, BPMCA Treasurer Ikram Hossain Bizu filed a case on February 10 with the bench of Justice Kazi Rezaul Hossain and ABM Altaf Hossain. According to BPMCA senior officials, the judges then passed an order to admit students with scores as low as 110. l
Family members console Ripon, 25, who received burn injuries when a devastating fire broke out at a steel mill at Kadamtali yesterday morning. This photo was taken at the Burn Unit of Dhaka Medical College and Hospital RAJIB DHAR
Editor: Zafar Sobhan, Published and Printed by Kazi Anis Ahmed on behalf of 2A Media Limited at Dainik Shakaler Khabar Publications Limited, 153/7, Tejgaon Industrial Area, Dhaka-1208. Editorial, News & Commercial Office: FR Tower, 8/C Panthapath, Shukrabad, Dhaka 1207. Phone: 9132093 94, Advertising: 9132155, Circulation: 9132282, Fax: News-9132192, e-mail: news@dhakatribune.com, info@dhakatribune.com, Website: www.dhakatribune.com
Business
Bandwidth export may not yield NBR demands tax of Tk3,000cr immediate profit for BSCCL n on SIM resale
Tahmidur Rahman
BANGLADESH SUBMARINE CABLE COMPANY LIMITED
220
Operators say revenue body unilaterally makes the decision of a tripartite review committee of Mobile Telecom Operators of Bann Muhammad Zahidul Islam gladesh (Amtob) sent a letter in this
The National Board of Revenue (NBR) has finalised a report which says four mobile phone operators will have to pay Tk3,010 crore as tax for SIM resale. But the operators said they didnt resell the SIMs, rather replaced them. For replacement of SIM cards there is no tax imposed as it will lead to double taxation. The revenue board came to the point after the scrutiny of the SIM replacement data supplied by Grameenphone, Banglalink, Robi and Airtel. According to the NBR, 79% of the documents showed the subscriber identification module (SIM) cards were resold to different subscribers.
BTRC and mobile operators representatives didnt sign the NBR report although they were a part of the reverification process
SIM resale to a different owner is not allowed by the rule, said the industry insiders. NBR report said nearly 79% of the submitted documents of SIM replacement didnt match with the original Subscriber Application Forms (SAF). The four private mobile companies criticised the report labelling as unilateral and unacceptable. Before 3G auction, a report of a tripartite committee with representatives from telecom regulator BTRC, NBR and mobile operators said a few of the documents were problematic. The NBR prepared a terms of reference (TOR) last year, which was approved by the finance ministry before the 3G auction to quantify the resold SIMs, said Vivek Sood, chief executive officer of Grameenphone. But the NBR unilaterally revised the TOR after the operators participated in the 3G auction which is not acceptable, he said while speaking at the companys yearend financial disclosure at a city hotel last week. He hoped the NBR chairman would review the matter and find a solution. In December last year, Association
regard to the NBR, Bangladesh Telecommunication and Regulatory Commission (BTRC) and telecommunications ministry seeking a solution. The letter signed by Amtob secretary general TIM Nurul Kabir and other four senior executives from the operators said the NBR used a new process for re-verification of the SIM information. The SIM Card Replacement Review Committee (SCRRC) of the NBR prepared the report after scrutinising the SAF, SIM Registration Form (SRF) and Undertaking Form (UTF) of the operators submitted between August, 2010 and December, 2011. According to the SCRRC claim, four mobile phone operators have dodged tax through selling old SIMs to new clients. Currently, the companies pay Tk300 tax against the sale of a SIM card. The Dhaka Tribune obtained a report on SIM re-verification prepared by the telecom regulator earlier, which showed there was no inconsistency in the information. BTRC and mobile operators representatives didnt sign the NBR report although they were a part of the re-verification process. According to the SCRRC report, Grameenphones 94.79% of information were inconsistent. This is the highest among the operators, followed by Banglalinks 94.83%, Robis 93.42% and Airtels 29.81% . The committee verified 1,400 samples from Grameenphones data, Banglalinks 1,200 samples and Airtels 1,097 samples Grameenphone failed to provide any CDR data before 2010, so the committee could not cross-check the data for the period, said the SCRRC report. It also said Banglalink provided incomplete data of a specific field while Airtels CDR failed to provide incoming call record, subscribers handset IMIE number and some system logs before the committee. The NBR has been demanding the amount of tax from the four companies since early 2012. After analysing the documents, the amount of payable tax decreased to Tk3,010 crore from the initial demand for Tk3,062 crore. Of the amounts, Grameenphone Tk1,562 crore, Banglalink Tk762 crore, Robi Tk647 crore and Airtel Tk39 crore. l
The revenue to be generated from export of bandwidth is unlikely to result in immediate profit for Bangladesh Submarine Cable Company Limited (BSCCL), a state-owned company listed on Dhaka Stock Exchange. The revenue from the exports may not result in immediate profit, analysts said. The proceeds will be used to finance a Tk100 crore project to install the second submarine cable, expected to be live by the first quarter of 2016," BSCCL Managing Director Monwar Hossain told the Dhaka Tribune yesterday. On the first day of last week, the company obtained an approval of exporting its unused bandwidth that would help surge revenue by at least Tk60 crore annually. Before the approval, a rumour spread across the stock market that BSCCL is going to get the government to export the bandwidth, stock investors alleged. The government has given us approval for renting or leasing out 40 lakh MIU-kilometres of internet bandwidth as we have a total of 82MIU-km of un-
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used bandwidth, Monwar said. However, the stock last week registered a gain of 15.9% over the previous week at Dhaka Stock Exchange, riding on the back of a buying spree as the total trade value stood at Tk144.9 crore. The A category companys stock price saw a surge of almost 30% in past two weeks. The current cable provides 200Gbps while the new connection will add up
1,400Gbps that may free more bandwidth for export in future. Contrary to the positive news of bandwidth export approval, the company last month reported its half yearly profits that decreased by 50% against same period a year earlier. According to the unaudited report, the companys profit stood at Tk24.6 crore after tax in (July to December) 2013 while it was Tk49.2 crore in the
same period of 2012. The latest unaudited report shows a sharp fall in rent revenue of IPLC (International Private Lease Circuit), which fell from Tk64.7 crore in the second half of 2012 to Tk41.9 crore during the second half of 2013. Our rent revenue fell due to unholy competitions that exist in the currently unstable market, said the BSCCL MD. However, we will not join the price war as we are clearly the better one in terms of quality and ethics, which eventually will help us overthrow the competition despite the inequality. Industry insiders alleged that BSCCL competitors like International Terrestrial Cable (ITC) operators are providing bandwidth at a lower rate as they do not yet have to share revenue and charges like revenue fees with regulator BTRC. The BSCCL MD said the company would perform even better, despite export revenue, once the market stabilises and a level-playing ground is created. Replying to a question, he said increase in the cost of electricity, generator fuel, administration and depreciation of core machinery put slight weigh on the companys profitability. l
Closing Price
ICBs Tk31 lakh picnic allocation raises eyebrows n Asif Showkat Kallol
Investment Corporation of Bangladesh (ICB), a state-run financial institution, approved an allocation of Tk 31 lakh to hold annual picnic, prompting the authorities to ask for clarification from the ICB board of directors. Banking and Financial Institutions Division of the finance ministry wanted to know the rationality of allocating a huge amount of money from the ICB fund, officials said. One of the board members from the finance division, Additional Secretary Gokul Chand Das, raised objection at a meeting of the board earlier when ICB officers submitted a requisition for an amount of Tk37 lakh in January. He pointed out that the issue should be discussed further and suggested including it in the regular agenda of the board meeting. But later, the board approved Tk31 lakh in its next meeting when Gokul was not present at the meeting. Now the Banking and Financial Institutions Division sought explanation from the ICB as to why they allocated the fund, according to a letter served to the ICB. Chairman of ICB Dr SM Mahfuzur Rahman said it is a misunderstanding of directors. If we see the matter blindly, the amount may be big for annual picnic. But it includes two other jobs like annual sport and cultural function. l
'It would not be wise if factory inspection is conducted with the American perspective in mind as the sector has matured without adequate plans in three decades'
The international firms the Accord has selected have committed an adequate number of engineers and have provided viable plans to complete 1,500 inspections by September 2014, Rob added. The Accord was scheduled to begin factory inspection from November 2013, but facing certain obstacles, it failed to launch inspection in due time.
MRA to launch CIB services to discipline microcredit ICB Islamic Banks share
n Tribune Report
The Microcredit Regulatory Authority (MRA) plans to launch a Credit Information Bureau (CIB) soon to bring more discipline in lending and borrowing process of the micro-credit financial institutions. Bangladesh Bank governor and also the chairman of MRA Atiur Rahman came up with the disclosure yesterday while he was addressing the Dhaka Microcredit Conference 2014 in the city. The conference organized by the Credit and Development Forum (CDF), was also addressed, among others, by state minister for finance M Abdul Mannan, MRA executive vice-chairman Khandakar Muzharul Haque and CDF chairman Mosharrof Hossain. Addressing the conference Atiur Rahman said, MRA has been working for introducing CIB services for the streamlining of the micro-financers. Referring to the example of Bangladesh Bank, he said, banks and financial institution under the ministry of finance oversee the activities of the central bank for ensuring effective credit risk management. Recently, a team has come back from Cambodia after witnessing fasthand experiences about their mode of CIB services set for microcredit institutions. they are not able to realise the credit. However, credit given to the MFIs does not remain unrealised and the rate of loan realisation is also good, he said. Lending to the MFIs has been increased to 250 from 91 in 2011, as many banks, even foreign ones, began to pick up microcredit institutions for disbursing loan among small farmers, said the governor. I have no hesitation to mentioned that the banking industry is now on strong financial footing but MFIs are yet to reach that level due to many problems, including fund shortage, higher interest rate, banks reluctance to give loan and hidden costs, he said. Atiur said, Bangladesh Bank will include microcredit institutions in its Tk200 crore project for credit disbursement among small farmers having bank accounts. Central bank plans to introduce Tk10-bank account for the street children as like as the small farmers, cleaners and RMG workers. The governor has also urged the MFIs to diversify their services besides lending. You (MFIs) can give various services like cold storage facilities to preserve perishable goods like potato, he said. Since its establishment in 2006, MRA gives licences to 732 MFIs with 1900 branches across the country. l
acquisition halts
n Asif Showkat Kallol
ICB Islamic Bank has stopped talking about selling majority of its shares to the Investment Corporation of Bangladesh after asking for an independent audit of the financially-troubled bank. We want to buy the majority shares of the ICB Islamic Bank. But it seems that they are not interested after asking for an independent audit, ICB Chairman Dr SM Mahfuzur Rahman told the Dhaka Tribune yesterday. They (the management of ICB Bank) have stopped communication with us, he said. ICB Islamic Bank has continued to face financial troubles and the acquirement of the banks ownership by the state-run ICB may raise the hopes of recovery. However, the Bank and Financial Institutions Division is examining the proposal of majority shares purchase by the ICB. The proposal will be placed to Finance Minister AMA Muhith for his consent. ICB will acquire 52.76% shares of the bank now owned by the Switzerland-based ICB Financial Group Holdings AG, a company listed with the London Stock Exchange. ICB in principle has decided to buy
BB governor said, Microcredit Financial Institutions (MIFs) have contributed a lot in alleviating poverty during the last two decades and also in bringing regeneration in the countys economy through credit disbursement in the remote areas. Credit Information Bureau (CIB) usually maintains records of an individuals borrowing and payment records. These records are submitted to CIB of the central bank by the member banks and financial institutions and this information is later on used to help evaluate and approve loan applications. If CIB was established by the MRA,
such records will be submitted by the MFIs including Grameen Bank and BRAC. The central bank had earlier set up CIB on August 18, 1992 aiming to improve credit risks and reduce the extent of default loan in the countrys banking system. The governor has also asked the banks to lend the MFIs with reduced interest rates, as they have played an important role in creating small entrepreneurs in the remote areas where banking facilities are not available. Banks are interested to lend credit to the big borrowers but in some cases
the shares of the bank after an independent audit, said an official of the division. According to the sources, the shares price has been agreed at Tk8 each against the face value of Tk10. On Thursday last, the banks shares in the Dhaka Stock Exchange was traded at Tk6.30 each. At a recent meeting, the board of directors of the ICB empowered its Managing Director Fayekuzzaman to sign a Memorandum of Understanding (MoU) with the bank. Sources said the central bank has agreed to offer all kinds of cooperation to the ICB to acquire the shares of the bank. The Orion Capital Ltd, a potential strategic partner for the acquisition, has sent a draft MoU to the ICB. Sources said the ICB Financial Group Holdings AG, a sponsor shareholder of the bank, in its MoU said the shares will be sold on as-is-where-is basis. Selling price of the shares will remain fixed at Tk8 which should not be changed after due diligence. It also wanted payment of the value of 10% shares it was disposing of before due diligence and the rest 90% be paid before the signing of the agreement as proof of fund. l
B2
DHAKA TRIBUNE
Stock
DSE GAINERS Company BD Submarine Cable-A DESCO Ltd. -A GeminiSeaFood-Z Apex Tannery -A NCCBL Mutual Fund-1 A Olympic Ind. -A National Life I -A Square Pharma -A ACI Formulations-A Rupali Life Insur.-A CSE GAINERS
Closing (% change) 15.89 14.93 11.95 11.30 10.53 9.86 8.34 7.30 7.07 7.05
Average (% change) 21.26 11.66 11.66 12.63 13.04 10.89 6.11 8.60 6.48 3.48 Average (% change) 21.80 16.12 15.79 11.97 12.52 11.12 7.66 7.47 8.26 8.68
Closing average 220.66 67.69 159.30 175.23 10.66 204.02 343.56 266.42 88.91 106.22
Weekly closing 216.60 69.30 159.30 173.30 10.50 203.90 347.00 266.20 89.30 107.80
Weekly high 230.00 70.20 159.30 179.90 13.00 207.90 348.90 270.00 91.40 110.00
Weekly low 169.50 57.00 130.80 150.00 9.10 174.00 300.00 237.00 83.30 90.00
Turnover in million 1450.504 256.077 0.559 145.245 47.718 1113.197 67.017 1760.523 56.331 62.446
Latest EPS 3.28 1.12 6.44 4.86 1.03 6.90 12.46 11.36 2.13 5.33
Latest PE 67.3 60.4 24.7 36.1 10.3 29.6 27.6 23.5 41.7 19.9
Company BD Submarine Cable-A 7th ICB M F A NCCBL Mutual Fund-1 A DESCO Ltd. -A Apex Tannery -A Olympic Ind. -A Rangpur Foundry -A National Life I -A 6th ICB M F A Square Pharma -A
Closing (% change) 16.47 16.12 15.79 15.40 10.56 9.89 8.00 7.46 7.43 7.29
Closing average 220.71 85.00 11.00 67.73 176.89 204.95 108.00 350.00 65.56 266.97
Weekly closing 217.80 85.00 11.00 69.70 174.80 204.50 108.00 350.00 65.10 266.50
Weekly high 225.40 85.00 11.30 70.10 183.00 208.80 108.00 350.00 67.00 270.50
Weekly low 189.90 85.00 11.00 56.50 158.20 187.50 108.00 316.60 59.50 250.00
Turnover in million 178.562 0.043 0.149 22.409 14.399 47.262 0.108 3.871 0.163 102.527
Latest EPS 3.28 13.84 1.03 1.12 4.86 6.90 3.03 12.46 6.54 11.36
Latest PE 67.3 6.1 10.7 60.5 36.4 29.7 35.6 28.1 10.0 23.5
'Reverting previous weeks gain, the past week was halted by profit booking and investors cautious stance'
Market participation at DSE remained sluggish during the past week with the total turnover going down by 1% to Tk2,900 crore and the daily turnover averaged at Tk580 crore, a drop of 21% over the previous weeks daily average of Tk721 crore. Out of 302 issues traded, 48 advanced, 244 declined, six remained unchanged and 4 were not traded. Market has observed a correction phase in the week. This seems
paid-up number of shares i.e. 38,000,000 shares. However, considering Post-IPO 50,000,000 number of shares, Company's basic EPS would be Tk. 1.15 for 9 (nine) months ended on 30 September 2013 (Jan 2013 to Sep 2013) and NAV would be Tk. 11.04 as on 30 September 2013.
(-) 1.77% (+) 0.88% (-) 1.78% (-) 1.08% (-) 1.69%
Weekly high 1084.70 30.00 83.70 39.20 24.40 520.00 40.60 33.40 37.80 35.50
Unchanged Issue (Avg. Price Basis) Market Capital Equity (Billion. Tk.) Market Capital Equity (Billion US$)
Weekly low 995.00 25.50 73.20 33.00 20.80 441.70 35.90 29.00 31.20 28.50 Turnover in million 0.310 55.206 19.688 33.036 67.146 2.875 15.505 26.536 147.732 155.748 Latest EPS 47.83 1.34 1.18 2.20 1.00 3.04 0.36 0.28 4.33 1.65
Average (% change) -14.00 -11.30 -11.47 -8.23 -11.31 -9.43 -9.75 -10.05 -10.21 -9.56 Average (% change) -11.43 -10.97 -11.49 -10.33 -9.72 -9.83 -10.35 -9.93 -8.32 -9.29
Closing average 995.00 26.38 74.46 35.70 21.33 468.33 36.19 30.16 34.29 31.11
Weekly closing 995.00 26.20 73.90 35.10 21.30 467.60 36.10 30.30 34.10 30.90
Latest PE 20.8 19.7 63.1 16.2 21.3 154.1 100.5 107.7 7.9 18.9
Closing average 43.40 28.58 26.42 30.04 116.50 20.00 21.30 34.38 19.94 31.23
Weekly closing 43.40 28.50 26.20 30.00 116.50 20.00 21.30 34.10 19.80 30.90
Weekly high 49.00 31.00 29.50 34.60 128.00 22.20 24.10 37.50 21.50 33.40
Weekly low 40.10 28.40 26.20 29.60 116.50 20.00 21.30 34.00 19.70 30.80
Turnover in million 0.056 0.358 2.446 3.036 0.149 0.064 1.729 12.086 5.918 15.519
Latest EPS 2.60 0.28 1.34 0.28 4.95 -0.89 1.00 4.33 0.87 1.65
Latest PE 16.7 102.1 19.7 107.3 23.5 -ve 21.3 7.9 22.9 18.9
ENVOYTEX: (Q1): As per un-audited quarterly accounts for the 1st quarter ended on 31st December 2013 (Oct'13 to Dec'13), the Company has reported profit after tax of Tk. 39.36 million with EPS of Tk. 0.28 as against Tk. 105.63 million and Tk. 0.75 (restated) respectively for the same period of the previous year. AFC Agro Biotech Limited: (Q3): The Company started its commercial operation on 07 October 2012, as stated in the prospectus. The Company has reported that its net profit after tax has stood at Tk. 19.07 million and basic EPS is Tk. 0.50 for the 3 (three) months ended on 30 September 2013 (July 2013- September 2013). It is to be noted that basic EPS has been calculated based on the weighted average Pre-IPO paid-up number of shares i.e. 38,000,000 shares. However, considering Post-IPO 50,000,000 number of shares the Company's basic EPS for the 3 (three) months ended on 30 September 2013 would be Tk. 0.38. Whereas for the period of 9 (nine) months (Jan 2013 to Sep 2013) ended on 30 September 2013 profit after tax was Tk. 57.59 million and basic EPS was Tk. 1.52. It is to be noted that the said EPS has been calculated based on weighted average Pre-IPO
Fixed Assets/Right/Investment: GENNEXT: The Company has further informed that the subscription period for rights issue will be from 18.03.2014 to 09.04.2014. Record date for entitlement of rights share: 25.02.2014. The purpose of issuing Rights Share is to pay off debt and expand the production capacity. DELTALIFE: The Company has informed that the Board of Directors of the Company has decided to establish two fully owned subsidiary companies namely (1) DLIC Asset Management Company Limited with an Authorized and Paid-up Capital of Tk. 50.00 crore and Tk. 10.00 crore respectively and (2) DLIC Financial Services Limited with an Authorized and Paid-up Capital of Tk. 50.00 crore and Tk. 25.00 crore respectively subject to the approval from the Insurance Development and Regulatory Authority (IDRA) and Bangladesh Securities & Exchange Commission (BSEC). DBH: The Company has informed that the Board of Directors of the Company has authorized the Management to negotiate and complete the necessary formalities to procure a floor space as follows: Floor space measuring 2,075 sft. at the 4th floor of Union Nahar Square, Plot # 19, Sonargaon Janapath Road, Sector # 13, Uttara Moderl Town, Dhaka at a total cost of Tk. 3,01,50,000.00 (excluding registration expenses).
NBFI Index
DSE BroadIndex
ANALYST
Market has observed a correction phase in the week. This seems to be a natural profit booking as market is standing over 13% return since the beginning of 2014
CSE Total
4% 3% 2% 1% 0%
03
07
24
28
10
21
31
17
04
-1%
-2%
DSE Million Taka 2921.24 1616.02 642.37 2676.44 1724.41 4437.33 7.43 2320.72 4452.18 3.07 155.67 427.80 322.29 1150.72 425.16 580.04 1894.72 2103.82 515.07 574.64 5.66
% change 10.09 5.58 2.22 9.24 5.96 15.32 0.03 8.01 15.38 0.01 0.54 1.48 1.11 3.97 1.47 2.00 6.54 7.27 1.78 1.98 0.02
Million Taka 318.84 136.87 28.50 338.17 101.53 220.65 0.00 207.86 365.73 2.63 18.10 27.91 42.53 59.31 73.62 21.43 97.03 249.38 80.89 112.64 0.13
% change 12.73 5.47 1.14 13.51 4.06 8.81 0.00 8.30 14.61 0.11 0.72 1.11 1.70 2.37 2.94 0.86 3.88 9.96 3.23 4.50 0.01
Million Taka 3240.08 1752.89 670.87 3014.61 1825.94 4657.99 7.43 2528.59 4817.91 5.70 173.77 455.71 364.82 1210.03 498.78 601.47 1991.76 2353.21 595.96 687.29 5.79
% change 10.30 5.57 2.13 9.58 5.80 14.81 0.02 8.04 15.31 0.02 0.55 1.45 1.16 3.85 1.59 1.91 6.33 7.48 1.89 2.18 0.02
DSE TURNOVER LEADERS Company Square Pharma -A BD Submarine Cable-A Meghna Petroleum -A Olympic Ind. -A Jamuna Oil -A Delta Life Insu. -A Grameenphone-A Padma Oil Co. -A LankaBangla Fin. -A BD Building Systems -A CSE TURNOVER LEADERS Company BD Submarine Cable-A AFC AgroBiotech-N Square Pharma -A Appollo Ispat CL -N Grameenphone-A Aftab Auto.-A Delta Life Insu. -A BSC A aamra technologies-A UCBL - A
Volume shares 6,754,276 7,078,058 4,091,893 5,675,801 3,742,955 2,951,550 3,146,200 1,819,619 8,421,950 6,348,200
Value in million 1760.52 1450.50 1175.98 1113.20 880.67 800.19 653.32 614.59 609.40 458.54
% of total turnover 6.08 5.01 4.06 3.84 3.04 2.76 2.26 2.12 2.10 1.58
Weekly closing 266.20 216.60 292.10 203.90 237.10 278.70 207.20 334.70 70.10 74.20
14
Price change 7.30 15.89 4.96 9.86 2.73 6.25 -1.33 1.76 -4.23 5.85
Weekly opening 248.10 186.90 278.30 185.60 230.80 262.30 210.00 328.90 73.20 70.10
Weekly high 270.00 230.00 297.50 207.90 242.10 282.80 211.40 345.00 75.60 74.70
Weekly low 237.00 169.50 254.00 174.00 215.00 262.00 199.00 315.00 65.80 63.00
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
Volume shares 863,193 1,708,500 392,893 2,399,800 341,800 723,909 224,500 126,080 1,441,755 2,029,310
Value in million 178.56 107.95 102.53 76.00 70.82 69.18 60.97 60.43 59.72 58.35
% of total turnover 7.15 4.33 4.11 3.05 2.84 2.77 2.44 2.42 2.39 2.34
Weekly closing 217.80 60.30 266.50 31.80 206.90 92.20 279.90 486.00 39.60 27.70
Price change 16.47 0.00 7.29 -2.45 -1.57 -1.39 6.63 3.01 -7.91 -6.73
Weekly opening 187.00 0.00 248.40 32.60 210.20 93.50 262.50 471.80 43.00 29.70
Weekly high 225.40 68.80 270.50 33.00 210.10 99.70 283.00 494.80 44.00 30.00
Weekly low 189.90 53.00 250.00 30.10 195.00 92.00 262.00 462.00 39.30 27.60
11
Weekly average 266.42 220.66 293.32 204.02 238.43 275.21 207.00 337.17 70.47 72.99
Weekly average 220.71 61.09 266.97 31.23 206.66 92.56 275.50 489.70 39.88 27.96
DHAKA TRIBUNE
Business
B3
tagong Stock Exchange from a list submitted by the CSE. The regulator selected former NBR chairman Abdul Majid, Chittagong University professor Ayub Islam, former CSE director Moinul Islam Mahmud, former Bangladesh Garment Manufacturers and Exporters Association president Md Shafiul Islam Mohiuddin, BGMEA first vice-president Nasiruddin Ahmed Chowdhury, Institute of Chartered Accountants Bangladesh president Showkat Hossain and former ICMAB chairman Momtaz Uddin Ahmed. The new board will be comprised of 13 members, four from its existing shareholders, seven from independent directors, CSE chief executive officer and one from strategic investor, according to the Demutualisation Act 2013. l
Stronger-than-expected Germany, Politics, Fed could whip up new emerging France nudge up euro zone growth n markets storm
Reuters
n Reuters
A stabilisation in emerging markets after Januarys rout may turn out be the calm before the storm if political flareups and Fed policies provide the spark for the next round of selling. Currencies in Turkey, South Africa, Hungary and Russia, which suffered violent sell-offs over the past month, have recovered slightly, partly because central banks have fought back via interest rates hikes or exchange rate interventions. Investors also appear more sanguine about the US Federal Reserves plan to steadily withdraw monetary stimulus, a stance confirmed by its chair Janet Yellen this week. But the next stress points are already emerging. Some investors are bracing for the April tipping point, when the Feds stimulus withdrawal in real terms is expected to start having a more material impact on the economy. Another catalyst will be political uncertainty, with many of the deficit countries facing elections in 2014, said Gautam Chadda, director of investment consulting at RBC Wealth Management.
Falling reserves
Nigeria is also an example of an emerging economy that is seeing a steady depletion in its hard currency reserves
That includes the capital-hungry Fragile Five countries, voters in all of which are due to pass judgment on their governments this year. Markets dont like uncertainty and there is a lot of political uncertainty out there, said Chadda, who expects pressure on emerging markets to return as the Fed scales back its asset-purchases over the course of the year. And if turbulence has ebbed in markets such as Turkey and India, it appears to be spreading to other parts of the developing world. For instance, markets in commodity exporting Nigeria, which is sensitive to Chinas growth and until recently a top frontier market investment destinations, have tumbled. The naira has hit two-year lows after President Goodluck Jonathan sacked four cabinet members ahead of next years general election, and its weakness has been only partly stemmed by central bank intervention. A weaker currency worsens the inflation outlook for Nigeria which depends on imports for almost 80% of goods sold in the country. The cedi currency of another Afri-
Nigeria is also an example of an emerging economy that is seeing a steady depletion in its hard currency reserves - its cash pile has fallen 7% over the past year. Reserves fell in 11 out of 17 key emerging economies, including Russia, South Africa and Indonesia, in the year to January, as once-buoyant investment inflows dwindle and trade with a slowing China declines. That in turn undermines the ability of central banks to support currencies under pressure. Michael Howell, managing director of CrossBorder Capital, said recent poor economic data out of China is a reminder for investors of the sensitivity of many emerging markets to the worlds second-biggest economy. Is the crisis over? Its not. Real exchange rates of emerging markets have to come down further, Howell said. Which banana skin are you going to slip on? I believe it would be weak economic data coming out of China or signs of FX reserves to start falling significantly. He noted that Britain and the United States had recovered faster from Great Depression in the 1930s than France, which prioritised monetary discipline. That could set the stage for a round of beggar-thy-neighbour competitive currency devaluations in emerging markets. Kazakhstan may already have started it, with its 19% tenge devaluation this week. That move was motivated by weakness in the rouble of Russia, Kazakhstans key trade partner. The shining lesson from the 1930s is that those countries that devalued currencies first got out quickly. (Kazakhstan) is following the script, Howell said.
Slightly stronger-than-expected growth in Germany and France pushed the euro zones recovery up a gear in the fourth quarter and offered potential for a more robust 2014, albeit with risks. Data on Friday showed the euro zone economy rose by 0.3% in the three month to December compared with the previous quarter. This slightly exceeded market expectations for a 0.2% expansion. The 9.5tn euro economy had already emerged in the second quarter from its longest recession since the introduction of the single currency, but record high unemployment, external economic risks, fiscal austerity and low inflation have kept a lid on the rebound. The EUs statistics office will publish a detailed breakdown on March 5, but analysts said the fourth-quarter growth was mainly driven by exports and investment. A positive signal was that for the first time in almost three years all of the six largest euro zone economies recorded quarterly expansions. Germany, the Europeans largest economy, saw its growth accelerating to 0.4% on the quarter thanks to a rise in exports and capital investment, up from 0.3% in the previous three months. The French economy expanded by 0.3% and statistics office INSEE revised up the third quarter figure to flat from -0.1%. That meant France grew 0.3% over the course of last year, more than the governments estimate of 0.1%. Analysts nonetheless were cautious. It is still going to be far from plain sailing for the euro zone in 2014 as a number of significant growth constraints remain, said Howard Archer, chief European economist at IHS. Martin van Vliet, an analyst with ING, said a sustained recovery was not yet assured.
Italy, now awaiting a new prime minister with Enrico Letta due to resign having been forced out by his own Democratic Party, dragged itself back to growth for the first time since mid2011. Its economy expanded marginally by 0.1%. Over the whole of 2013, GDP contracted by 1.9%, the ISTAT statistics office said. Italy has been one of the worlds most sluggish economies for more than a decade. Growth has averaged less than zero over the last 12 years. In 2014, the government forecasts growth of 1.1%.
Ecb watching
'Capital investment developed positively, however, a strong reduction in inventories put the brakes on economic growth'
The German Statistics Office saw mixed signals from the domestic economy, which has driven growth throughout most of the year, with public expenditure stable and private consumption slightly below the level of the previous quarter. Capital investment developed positively, the Statistics Office said. However, a strong reduction in inventories put the brakes on economic growth. The German Economy Ministry said on Wednesday it expected gross domestic product (GDP) growth of 1.8% in 2014 - more than four times faster than in 2013 as a whole. The rise in capital investment is very positive and signals that the German economy is starting the new year well, said Johannes Mayr, an economist at Bayern LB.
The European Central Bank kept policy steady earlier this month with President Mario Draghi declaring more information was needed before deciding on any action. He cited fresh ECB staff forecasts which will be ready for the March policy meeting and the fourth quarter GDP numbers. Spain has already reported fourth quarter growth of 0.3%, its second successive quarter of expansion. The government now expects growth this year of close to 1%, compared with an official forecast of 0.7%. The Dutch economy grew by a solid 0.7% on the quarter, well above the market consensus. Austrian GDP rose 0.3%. The French government expects growth will accelerate this year to at least 0.9%, driven by a rebound in company investment. A breakdown of the fourth quarter French figures showed growth was driven by the first rise in corporate investment in two years. Public investment was even stronger and household spending also recovered. Finance Minister Pierre Moscovici nonetheless described the economys strength as unsatisfactory and said faster growth was needed to create more jobs with unemployment at nearly 11%. The growth, however, now needs to spill over into a decent job creation, a crucial link the recovery was missing so far, analysts say. Moreover, both the relatively strong euro and the slowdown in emerging market economies are clear downward risks to the growth outlook, INGs van Vliet said, adding he expected the ECB to stay cautious. That said, todays better-than-expected GDP data does provide the ECB with a little more confidence about the recovery and hence reduce the chances of a March 6th ECB rate cut.l
Tipping point
The Federal Reserves winding-down stimulus, which began in December, has so far not significantly driven up US bond yields, which remain below levels seen in May-June last year. But it may simply be that the real effect of tapering has not kicked in yet, because as the economy recovers and the US budget deficit shrinks, the Treasury is issuing less debt. Stephen Jen, managing partner of SLJ Macro Partners says that until the Feds monthly bond-buying falls below $55bn, tapering will not have a real impact, relative to total bond sales. The Feds tapering will only catch up to the Treasurys tapering by April or so, Jen said. This may help explain why equity prices have been so well supported in Q4 2013 and early 2014, despite the Feds decision to taper. l
Toshiba's Chief Executive Officer Hisao Tanaka addresses a news conference in New Delhi REUTERS
The Hong Kong and Shanghai Banking Corporation Limited recently appointed Sabbir Ahmed as its head of retail banking and wealth management in Bangladesh. His new role in the bank is effective from today
Pizza Inn launched its third branch at Banani, Dhaka on Thursday. Sayed Anowaruzzamn, chairperson, Eng Sayeed Ahmed, managing director and other directors of Mohammad Food and Alights were present at the ceremony
Kurmitola Golf Club began its three-day long Square Cup Golf Tournament 2014 at the clubs premises in the Dhaka on Friday. The tournament was inaugurated by Lieutenant General Mollah Fazle Akbar, ndc, psc, comdt, National Defence College
B4
DHAKA TRIBUNE
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THE DOG AND THE TECHNOLOGY
A dog wears a "Petfit tag" equipped with 3G and Bluetooth from Japan's largest mobile phone carrier NTT Docomo during a press briefing in Tokyo on February 13, 2014. NTT Docomo announced it will start the communication service "Petfit" in March allowing owners to manage the health and locate the whereabouts of their dog through a tag attached to a collar from a PC or smart phone AFP
Dollar softens
Asian gains
Traders are pictured at their desks in front of the DAX board at the Frankfurt stock exchange
REUTERS
Early futures prices pointed to subdued end to the week for Wall Street though it, like European shares and MSCIs 45-country world index, was on course for its best week since the end of December. Data from both the US and China have been unconvincing recently but the wobbles have been offset by assurances from the Federal Reserve, European Central Bank and Bank of England that their supportive policies will remain in place if needed. In Asian trading, share markets mostly rose to give MSCIs broadest index of Asia-Pacific shares outside Japan its biggest weekly gain since September. Japans Nikkei stock average underperformed its counterparts though, tumbling 1.5% for its sixth straight weekly losses as the yen continued to make ground against the weaker dollar. Japanese stocks have trouble advancing as overseas investors have become reticent, said Kenichi Hirano, a strategist at Tachibana Securities in Tokyo.
The weaker dollar helped point Asian emerging market currencies towards weekly gains as they continued to recover ground after last months squalls. The Indonesian rupiah hit a near 11week high after data showed that countrys current account deficit narrowed sharply in the fourth quarter, though both the Russian rouble and Nigerian Naira remained under pressure. The yield on benchmark 10-year Treasury notes dipped after Thursdays data but climbed back to just under 2.74% in early European trade, pulling benchmark European German Bund yields in its wake US yields rallied this week after the US Congress approved an increase in the debt limit and incoming Federal Reserve Chair Janet Yellen maintained the central banks commitment to gradually withdraw its stimulus. In commodities trading, US crude slipped about 0.2% to $100.13 a barrel after skidding on the previous sessions dismal US data. Brent crude also edged down about 0.1% to $108.40. Spot gold added about 0.3% in Asian trading to $1,306.90 an ounce, after hitting a three-month high of $1,307.80 earlier in the session. The US data gave gold futures a lift and helped them post their eighth straight gaining session - the longest winning streak since July 2011. l
'The government is expected to cut budgeted expenditure by 550 650bn rupees in sectors like roads, metro rail, defense and power sectors to meet the deficit target'
Economy losing steam
Industrial output has fallen 0.1% in the first nine months of 2013/14 fiscal year, and annual car sales declined by about 5%. Since taking charge last August, Chidambaram has taken many steps such as reducing spending and gold imports to rein in the fiscal and current account deficit that helped stave off the threat of credit rating downgrades last year. But he has made limited headway in taming persistently high inflation and shoring up economic growth. The economy is projected to grow by 4.9% for the current fiscal year ending in March, much lower than the more than 9% growth seen before the 2008 global financial crisis. Annual retail inflation remains uncomfortably near 9%. Chidambaram is likely to project We will surprise everyone on the fiscal deficit numbers, a senior finance ministry official told Reuters. The government is expected to cut budgeted expenditure by 550-650bn rupees in sectors like roads, metro rail, defense and power sectors to meet the deficit target, said another government source. It also may defer oil, fertilizer and other subsidies worth nearly 1tn rupees ($16.10bn) to the next fiscal year, he said, adding the final figures could be higher, and would be known only at the end of fiscal year on March 31. Both sources declined to be identified because they were not authorized to speak about budget numbers. However, the oil, fertilizer and food subsidies are likely to be budgeted at about 2% of GDP for next fis-
Deferring burden
Analysts and the central bank are worried that by deferring a large amount of subsidies to the next fiscal year, Chidambaram may harm growth prospects. The government should avoid deferring release of funds for expenses that have already been incurred, to prevent tightening of systemic liquidity and further harm to sluggish growth, said Aditi Nayar, an economist at ICRA, the Indian arm of credit rating agency Moodys. The central bank has asked the government to target food and fuel subsidies for fiscal consolidation, and take steps to deal with food inflation. The quality of fiscal consolidation worries us, Samiran Chakraborty, senior economist, Standard Chartered Bank, said in a research note on Wednesday. It expects gross borrowing for next fiscal year at 5.8 to 6tn rupees, assuming 12% nominal GDP growth. l
US industrial output fell 0.3% in January in a surprise downturn, partly due to severe weather in parts of the country last month, the Federal Reserve said Friday. AFP
Crisis-hit Greece took a step closer to recovery on Friday with official data showing that the six-year recession choking the country was easing faster than expected. Overall, the figures indicate that Greece has now managed to cut the recession by almost half in the space of one year. AFP