The Bangladesh Today (15-12-2017)

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ECONOMY & BUSINESS FRIDAY, Rangpur Foundry Limited (RFL) declares 23 pc cash dividend Rangpur Foundry Ltd (RFL) has declared 23% cash dividend to its shareholders for the year 2016-2017 at the 37th Annual General Meeting of the Company held at Fuzi Trade Centre at Badda in the capital on Thursday, says a press release. Ahsan Khan Chowdhury, Chairman, Rathendra Nath Paul, Managing Director, Sabiha Amjad, Director, Uzma Chowdhury, Director (Finance), Choudhury Atiur Rasul, Chief Financial Officer, MA Mannan, Independent Director, Chowdhury Kamruzzaman, Director, Muhammad Aminur Rahman, Company Secretary and Shareholders' of the Company attended the Annual General Meeting. Shareholders thanked the management for Company's achievements over the years and made valuable suggestions for improvement in running the business. They reiterated their profound confidence in the management and operations of the Company. AGM ended seeking continued support from the investors of the Company and with a vote of thanks to the chair. THE BANGLADESHTODAY 10 DECEMBER 15, 2017 Marvel or mishap? Hong Kong's troubled mega bridge HONG KONG : Billed as the world's longest sea bridge connecting Hong Kong, Macau and mainland China, it has been touted by supporters as an engineering wonder, reports BSS. But critics say the multibillion dollar infrastructure mega-project is politically driven and a costly white elephant. Dogged by delays, budget overruns, accusations of corruption and the deaths of construction workers, there is little prospect it will open by the end of 2017 as hoped. Building started in 2009 on the 55-kilometre (34- mile) crossing, which includes a snaking road bridge and underwater tunnel, linking Hong Kong's Lantau island to the southern mainland Chinese city of Zhuhai and the gambling enclave of Macau, across the waters of the Pearl River Estuary. Officials say it will boost business and cut travel time, but opponents in Hong Kong see it as another attempt by Beijing to tighten its grip on the semi-autonomous city. Hong Kong enjoys rights unseen over the border but challenges from young prodemocracy activists and the emergence of a fledgling independence movement have riled Chinese authorities, who have warned they will not tolerate threats to China's sovereignty. The Chinese government is "trying to blur the boundaries between Hong Kong and the other parts of the mainland", said prodemocracy lawmaker Kwok Ka-ki, who sits on the legislature's transport panel. With its dire housing shortage and growing wealth gap there are also questions over whether the bridge is a good use of the Hong Kong government's money-all three jurisdictions pay a portion of the costs. The total price tag for the project, which includes artificial islands, link roads and new border-crossing facilities, is unclear but some estimates run to over 100 billion yuan ($15.1 billion). "Hong Kong doesn't really need it-we've got air, land and sea connections to the mainland," said prodemocracy lawmaker Claudia Mo, also on the transport panel. "To Beijing it's one big gigantic symbol to link Hong Kong to the mainland." Officials cast the bridge as part of the Greater Bay Area project to create an economic hub linking nine southern mainland cities to Hong Kong and Macau, also a semiautonomous Chinese territory. Pro-Beijing Hong Kong lawmaker Regina Ip says the bridge will help connections all the way to Southeast Asia, as part of China's "One Belt, One Road" initiative to link with Africa, Asia and Europe through a network of ports, railways, roads and industrial parks. "Although we have a boundary, we are still part of China and economic integration has been happening in a marketdriven way for the past few decades," Ip said of Hong Kong's position. Myanmar introduces new companies law to attract foreign investment YANGON: Myanmar authorities will enforce a new Companies Law from Aug. 1 next year, aiming at attracting more foreign investment, according to local authorities, reports BSS. Paving way for more foreign investment opportunities, the promulgation of bylaws and application of the law as well as working on the operating manual for online registration will be done by the last week of July next year, the Directorate of Investment and Company Administration (DICA) said in a press briefing Wednesday. The new law will facilitate rapid registration for companies using the online registration system. Members of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and economic experts called for speedy enforcement of the law to improve foreign investment environment. In accordance with the new law, foreign investors are allowed to take up to 35 percent in a local company, said Director- General of the DICA U Aung Naing Oo. Previously, even a company with even 1 percent of its shares owned by a foreign investor was classified as a foreign company, instead of a local company. He highlighted that under the new law, foreigners can legally own unmovable properties including condominium apartments which foreigners were not allowed to buy in the past. The law's change of designation of the foreign capital signals the pouring in of increased foreign investment, said vice chair of the UMFCCI Maung Maung Lay. The relaxation of doing businesses by foreigners in the legal aspect also contributes to the government's obtaining of monetary and technical assistance, economic experts said. The new Myanmar Companies Act, approved by the parliament earlier this month, was enacted to replace Companies Act of 1914. A 33-member school student delegation of Border Security Force (BSF) returned to India on 4th day of their courtesy visit on Thursday. On behalf of BGB, they were given farewell at Benapole. In the 33-member delegation, 31 students and two BSF officers were included. Photo: Courtesy 32-inch Walton LED TV turns into customers' top choice Sales jumped up by 92 percent Some unique features like application of state-of-the technologies and machineries, world-class quality, reasonable rates and assurance of swift after sales services of Walton brand LED televisions are resulted in gaining huge customers' popularity in the local market, says a press release. Specially, the 32-inch LED televisions of the local brand with varieties models have turned into the customers' prime choices. At now, Walton is marketing total of 31 models of 32-inch LED TV. Prices of those televisions of different models are Tk 20,800; Tk 20,990; Tk 21,800 and Tk 21,900. According to Walton officials, they registered about 92 percent growth in the sales of their 32-inch LED TV during the period of January to November of 2017 compared to the sales of the corresponding period of 2016. In addition, the overall sales of Walton brand LED televisions were jumped up by about 25 percent in the same period. The officials informed that Walton is now manufacturing varieties models of LED televisions of different sizes, including 20, 24, 28, 32, 39, 43, 49 and 55-inch, with state-ofthe art technologies and advanced machineries at its own television manufacturing unit at Chandra in Gazipur. They claimed that some uniqueness of Walton LED television like export quality, reasonable rates and assurance of swift post sales services have been leading the local brand televisions to be the customers' prime choices. Among the various sizes of LED televisions, models of 32-inch are in the highest selling position. Shourov Akter, addition director of Research and Development (R&D) Department of Walton, said they are manufacturing different sizes televisions with varieties design in accordance with the taste and purchasing power of all classes of people. The group of standard income people mostly prefers Walton brand's 43-inch LED televisions, which prices are Tk 41,900; Tk 42,900 and Tk 43,900 based on their models. In addition, sales of 19; 20; 24 and 28- inch LED televisions of Walton have also huge demands among the customers, which prices are Tk 9,090; Tk 12,450; Tk 14,500 and Tk 18,400. At the televisions manufacturing unit, Walton added the world's advanced technologies like Surface Mounting Technology (SMT), Five Axis VMC Technology, CMM Technology for Controlling Ultra Precise Quality, Auto Insertion, Automatic Inspection, Wave Soldering and so on. They are applying SMPS test, electrical performance and reliability test in the section of power analyze. Walton has set up one of the country's largest television R&D center with the combination of advanced machineries and highly skilled and experienced engineers. They are designing television panel, hardware, software, PCB layout and TV structure. Most of necessary raw materials are being produced through setting up separate spare parts production units like plastic cabinet, speaker, remote control, motherboard and panel at Walton television manufacturing unit. As a result, the local brand has been able to cut down the production cost and to maintain world-class quality. Amdadul Haque Sarker, executive director (marketing) of Walton, said they are exporting world-class LED television in different countries of the world. Mustafa Nahid Hossain, chief executive officer of Walton Television, said, they are manufacturing HADS (High Advance Super Dimension Switch) and IPS (In Plan Switching) and SVA panels in ISO class seven dust free clean room, which ensure the quality and durability of the panels. As a result, viewers will get high viewing angle and high contrast pictures. Moreover, the Walton TVs are huge power efficient. Mentionable, Walton television has been recognized and achieved certification by the Bureau of Indian Standards (BIS) and Testing Certificate from Standard Organization of Nigeria Product Conformity Assessment Program (SONCAP). Walton has already announced one-year TV replacement guarantee with the assurance of high quality. Gold rebounds from fivemonth lows CHICAGO : Gold futures on the COMEX division of the New York Mercantile Exchange rallied on Wednesday from fivemonth lows as the U.S. Federal Reverse announced widely expected interest rate hike, reports BSS. The most active gold contract for February delivery rose 6.9 dollars, or 0.56 percent, to settle at 1248.60 dollars per ounce, shortly before the interest rate hike announcement. The gold futures continued the upturn in electronic trading after the Fed decision. While raising the target range for the federal funds rate to 1.25 to 1.5 percent, the Federal Reserve also hinted at a wait-and-see approach to further rate hikes. "In determining the timing and size of future adjustments to the target range for the federal funds rate, the (Federal Open Market) Committee will assess realized and expected economic conditions relative to its objectives of maximum employment and two percent inflation," said the central bank in a statement. Heavy short covering in the futures markets and bargain buying in the cash markets were featured in gold trading on Wednesday, following recent selling pressure that dragged down gold prices to five-month lows on Tuesday. Berlin's town hall takes techno scene under its wing BERLIN: It's a familiar story across the Western world: a heated property market and complaints from the neighbours are squeezing nightlife in the big city, reports BSS. But in Berlin-known for its nightlife and understated cool-the town hall is stepping in to defend its legendary techno scene. "Techno culture has given so much to Berlin, using some taxpayer money to support it is the least we can do," says local Greens party lawmaker Georg Koessler, the initiative's most ardent supporter. City representatives are set to approve Thursday a million-euro ($1.2 million) fund to cover soundproofing and additional staff to cool partygoers' exuberance, a big gesture for the chronically indebted administration. They hope the cash can help brake a wave of closures that have struck in recent years. Since 2011, 170 clubs have shut down their lasers, sound systems and smoke machines for good. That leaves some 500 for the 3.5 million people of Germany's largest city and the armies of tourists disgorged from trains, planes and buses each weekend-more than 12.7 million in 2016 according to official statistics. "Politicians used to talk about Berlin clubs as something nice on the fringes," 32-yearold Koessler-who still calls himself a dedicated clubber "But very surprisingly, even our opponents in the (conservative) CDU are suddenly very passionate about this subject, which they call the 'night economy'," he adds. Many clubs sprang up after German reunification in 1990 in derelict or abandoned industrial spaces in the oncedivided city's east. Now with 30 years of experience, club owners won't limit themselves to waiting around for one-off handouts from city authorities. "We're aware of the power we have, so we press home the benefit the city draws from us, from tourism to the property market to startups," says Lutz Leichsenring, spokesman for the "Club Commission" which counts some 220 of the city's bestknown establishments among its ranks. The latest campaign is for recognition as artistic venues, which could grant techno havens a seven percent VAT rate rather than the 19 percent paid by bars and restaurants. Such cash incentives underpin noble sentiments about keeping the sacred techno flame alight. "We want to stay on the sharp edge of contemporary music culture," says Leichsenring. "If you're offering 'free entry for ladies' or 'buy one get one free' on beer, we're (Club Commission) not going to spring to your defence." Techno pilgrimage site Berghain was the first to talk its tax rate down in 2016, convincing the state that clubgoers came for its line-ups of star DJs rather than booze, sex and drugs. But Leichsenring argues that securing a tax break would be even more important for smaller venues without thousands besieging their doors each weekend. "Big clubs like Berghain, which employs 200 people, are at least profitable, they can rely on their box office and the bar," he says. Nurturing art means clubs "have to take risks, also musically speaking, and taking risk is always an economic question" that's especially off-putting for those only just clinging to life, Leichsenring said. Without the economic security to test out exciting new musical departures, the edgy, avant-garde feel that made Berlin nights out legendary across Europe and beyond could disappear. Both supply of and demand for world-class nightlife remain in abundance in the city on the river Spree for now. But the Club Commission worries that mass party tourism, insistent noise complaints and inexorably rising rents will push the city past its peak and into terminal decline.
MISCELLANEOUS FRIDAY, THE BANGLADESHTODAY 11 DeCeMBeR 15, 2017 National Press Club organized a discussion meeting at its VIP lounge yesterday marking Martyrs Intellectuals Day. Photo : TBT Man 'kills self' after 'killing' wife in Rajshahi RAJSHAHI : A man allegedly committed suicide after killing his wife over family feud at Pakuria village in Bagha upazila on Thursday, reports UNB. The deceased were identified as Abdul Mannan, 48, and his wife Kajali Begum, 44, of the village. Quoting the family, Rezaul Hasan Reza, OC of Bagha Police Station, said hearing Kajali's screaming, her mother-inlaw and her son rushed to their room and found her critically sick around 3:00 am. Later, she was taken to Bagha Health Complex where doctors declared her dead. Hours after the incident, Mannan committed suicide by hanging himself from a tree beside his house. On information, police recovered the bodies around 9:00 am and sent those to Rajshahi Medical College Hospital morgue for autopsy. Sabbir Hossian, son of the deceased, said his father strangled his mother to death following family feud. Later he committed suicide. After London tower fire, group develops risk assessment tool Six months after flames engulfed a London highrise and sparked concerns about similarly-clad buildings around the world, a U.S.-based fire prevention group has developed a tool aimed at making buildings safer, reports UNB. The National Association of State Fire Marshals' research foundation says its free risk evaluation tool will be available on its website after Jan. 1. Combustible exterior paneling fueled the flames that enveloped Grenfell Tower on June 14, killing 71 people, authorities said. An Associated Press review found the same panels on several U.S. buildings, and some of the owners were unaware of the potential danger. The fire marshals group says the new Risk Evaluation Matrix can help assess fire risks based on materials used, a building's occupancy and other criteria. The goal is to enable fire marshals, building owners and others to make their structures safer through a rational and scientific approach, said Nick Dembsey, professor of fire protection engineering at Worcester Polytechnic Institute in Massachusetts, which contributed research that went into developing the assessment tool. The researchers found evidence of a troubling trend: An over-reliance on sprinkler systems. Sprinklers are effective in many fires, but they should not justify cutting corners on other fire prevention measures, fire officials say. "More data is needed, but the early conclusions indicate an overreliance on sprinklers at the expense of passive fire safety systems, which endangers both the public and the fire service alike," said Louisiana State Fire Marshal H. Butch Browning, who is president of the National Association of State Marshals. The U.S. has for decades required sprinkler systems to be installed in new high-rise buildings, as well as multiple ways for people to exit in the case of a fire. Grenfell Tower had none of those safeguards. "We believe that sprinklers should be in every building. But we also have a concern that we not get all our safety eggs in one basket," said Jon Narva, an association spokesman. "There's more to fire safety than just sprinklers." Nat'l debate competition begins at JU on Friday JAHANGIRNAGAR UNIVERSITY : The 7th National Debate Competitions-2017 will start at Jahangirnagar University (JU) campus on Friday, reports UNB. The 5-day debate competitions will be held marking the 13th founding anniversary of Jahangirnagar University Debate Organisation (JUDO), said Sahin Reza, president of JUDO at the press conference of JU Journalists association office around 3 pm. Man held with 2 gold bars at Benapole BENAPOLE : Custom intelligence officials arrested a man along with 2 pieces of gold bar from Benapole international check post on Thursday, reports UNB. The arrestee was identified as Mustafijur Rahman, son of Tota Mia, Tungibari of Munsiganj district. Based on information, the intelligence officers challenged Mustafizur and arrested him from no man's land area around 11am, said Abdus Sadek, deputy commissioner of Benapole Customs intelligence. GD-1538/17 (20 x 4) GD-1539/17 (9 x 4)
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The Bangladesh Today (15-12-2017)

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