Prime Minister Shikh Hasina to open 10 economic zones Sunday

Prime Minister Sheikh Hasina will open 10 economic zones on Sunday in a bid to boost foreign and domestic investment.
The prime minister will inaugurate the economic zones from a programme at Bangabandhu International Conference Centre in Dhaka.
“We are hoping that the prime minister will open several other economic zones by December,” said Paban Chowdhury, executive chairman of Bangladesh Economic Zones Authority or Beza.
Chowdhury spoke at a programme yesterday when Muhammad Abdus Samad, executive member for investment promotion at Beza, and Ron Haque Sikder, managing director of PowerPac Economic Zone (Pvt) Ltd, signed a deal.
Under the agreement, PowerPac, a unit of Sikder Group, will develop the 205-acre Mongla Economic Zone and operate it for 50 years to attract foreign and domestic investors.
PowerPac is the first company to achieve the first qualification licence for one of the 10 economic zones, six of which are being built by private entities.
The remaining four are modelled on public-private partnership, which are: Mirsarai Economic Zone in Chittagong, Mongla Economic Zone in Bagerhat, Srihatta Economic Zone in Moulvibazar and Sabrang Tourism Park in Cox's Bazar.

Earlier, PowerPac had fulfilled all the conditions, including an environmental impact assessment, feasibility study and a master plan in line with a prequalification licence, which was awarded by Beza in May last year.
“We have already met some foreign investors in Singapore, and the economic zone would be a potential investment destination for them,” Sikder said. Chowdhury said the non-availability of land was a major problem for entrepreneurs. “But land is no more a problem. Some 30 economic zones can be set up in Mirsarai alone.”
The 10 economic zones are part of Beza's plan to develop 100 such zones by 2030 on 75,000 acres and to create jobs for one crore people, he said.
Beza has so far awarded prequalification licences to four private companies to set up five economic zones -- one each to AK Khan and Company, Abdul Monem Ltd, Bay Group, and two to Meghna Group.

Too much exercise may be bad for your heart

ust as most therapies have a dose-response relationship whereby benefits diminish at high doses and the risk of adverse events increases, high level of intense exercise may also be bad for the heart, suggests a new study.

The researchers reviewed studies that looked into the relationship between exercise and heart problems and found that there is growing evidence that high levels of intense exercise may be cardiotoxic and promote permanent structural changes in the heart.

There is already fairly compelling evidence supporting the association between long-term sports practice and increased prevalence of atrial fibrillation-abnormal heart rhythm characterised by rapid and irregular beating.

“Much of the discussion regarding the relative risks and benefits of long-term endurance sports training is hijacked by definitive media-grabbing statements, which has fuelled an environment in which one may be criticized for even questioning the benefits of exercise,” explained study author Andre La Gerche from the Baker IDI Heart and Diabetes Institute, Melbourne, Australia.

“This paper discusses the often questionable, incomplete, and controversial science behind the emerging concern that high levels of intense exercise may be associated with some adverse health effects,” La Gerche noted.

The study was published in the Canadian Journal of Cardiology.

“The answers regarding the healthfulness of ‘extreme’ exercise are not complete and there are valid questions being raised,” La Gerche said.

“Given that this is a concern that affects such a large proportion of society, it is something that deserves investment. The lack of large prospective studies of persons engaged in high-volume and high-intensity exercise represents the biggest deficiency in the literature to date, and, although such work presents a logistical and financial challenge, many questions will remain controversies until such data emege,” La Gerche observed.

Two new butterfly species found in Moulvibazar

Two new butterfly species - spotless oakblue and shinning plushblue - have recently been discovered in Moulvibazar.
Jiban Bikash Karjakram, a voluntary organisation, during the preparation of a list of butterflies found the two new species in the country’s north-eastern district, said a press release on Saturday.
According to International Union for Conservation of Nature (IUCN), there are 305 butterfly species in Bangladesh.
Meanwhile, a three-day photo exhibition on 57 butterfly species at Drik Gallery in the capital will end on Sunday.
The Jiban Bikash Karjakram in collaboration with the Forest Department arranged the exhibition titled ‘Chhobi Dekho Shekho, Butterfly of Bangladesh - Inventory Fourth Phase’ (Know the butterflies of Bangladesh through pictures).
The exhibition has been arranged in an attempt to create public awareness about the conservation of butterfly and its importance in the ecology.
IUCN country representative (Bangladesh) Ishtiaq Uddin Ahmad and conservator of forest Ashit Ranjan Pal, and chairman of zoology department at Jahangirnagar University Prof Monwar Hossain were present at the inaugural function of the exhibition on Friday.
Leader of the butterfly inventory group Mirza Shamim Ahsan Habib presided over the function.
As part of preparing the list of butterflies, this time the Jiban Bikash Karjakram has worked in the country’s eight areas --Moulvibazar, Habiganj, Jessore, Narail, Bandarban (Sadar Upazila), Bhola, Cox’s Bazar and Natore- for 15 months.
The Jiban Bikash Karjakram is conducting a survey to prepare the list of Bangladeshi butterflies. So far it has completed the survey in 30 districts and identified 238 species of butterfly there.

Home Economy IMF warns world economy ‘highly vulnerable

The International Monetary Fund warned Wednesday that the world economy is “highly vulnerable” and called for new mechanisms to protect the most vulnerable countries.

In a report on economic challenges ahead of the Shanghai meeting of finance chiefs of the powerful Group of 20 economies, the global crisis lender said world growth had slowed and could be derailed by market turbulence, the oil price crash and geopolitical conflicts.

“The global recovery has weakened further amid increasing financial turbulence and falling asset prices,” the IMF said.

“Strong policy responses both at national and multilateral levels are needed to contain risks and propel the global economy to a more prosperous path.”

The report, to be presented to the finance ministers and central bank chiefs of the G20 leading economies meeting in Shanghai on Friday and Saturday, said the Fund expects to lower its forecast for world growth in 2016, barely six weeks after making its most recent estimate of 3.4 percent.
“Global activity has slowed unexpectedly at the end of 2015, and it has weakened further in early 2016 amid falling asset prices,” the report said.
How countries should react to the threats to growth will be the main agenda in the Shanghai talks. The IMF is urging countries to boost fiscal stimulus and to push through reforms in order to increase demand.
It said central banks, including the US Federal Reserve, need to keep monetary policy accommodative to be sure tighter financial conditions do not stifle growth momentum.
However, the Fund stressed, “to avoid over-reliance on monetary policy, near-term fiscal policy should support the recovery where appropriate and provided there is fiscal space, focusing on investment.”
Besides the shocks to the world economy from China’s slowdown and the crash in commodity prices, the IMF said geopolitical issues like the Syrian refugee crisis and the rising infections in Latin America from the Zika virus pose economic threats.
For countries shouldering the biggest burden of those crises, and countries otherwise fit but left vulnerable by the commodities downturn, the IMF said the world’s financial safety net—which includes the Fund’s own programs—could be enhanced.
Without any specifics, it called for new financing mechanisms to help countries in financial turmoil.
“Many countries at the center of such shocks are shouldering a burden for others, with often limited capacity and fiscal space,” the report said.
“Recognizing the global public good nature of their actions, they could be backed up by a coordinated worldwide initiative to provide financial support.”

UK business team in Bangladesh

British business delegation visiting Bangladesh

• 

A British business delegation is visiting Dhaka for three days to drive forward “partnerships” between the UK and Bangladesh for the “growth and prosperity” of both countries.

The visiting UK companies, experts in the field of development and humanitarian aid work, will meet a wide range of development partners, government officials, and non-government organisations, the British High Commission says.

The delegation comprises members of the British ‘Aid Funded Business’ service that helps UK companies win business from aid agency-funded projects.

British High Commissioner Alison Blake said this visit provides “excellent opportunities” for them to share knowledge with partners and identify how best they can supply resources and services to the benefit of both countries.

The UK is the largest bilateral grant donor to Bangladesh.  Some 100 UK firms have operations in Bangladesh.

Some of the 20 organisations representing in the delegation already have business with Bangladesh, the others are taking their first steps to entering this fascinating market, the team leader Peter Lindsay was quoted as saying in a statement.

“There is a strong desire, from both sides, to further strengthen relations between our two countries, and this is the primary purpose of our trade mission,” Lindsay said.

The mission is composed of the UK companies including British Expertise International/ Elmhurst Solutions, Adam Smith International, BBS Consultants, Ecorys UK, Green Grade Solutions, Griffon Hoverwork Limited, IMC Worldwide, Maxwell Stamp Limited, Oxford Policy Management, Pan Products Limited, Quay Asia Limited, Russell IPM Limited, Scottish Qualifications Authority, University of South Wales, Ernst & Young and Public Administration International.

Sweden ready to help Bangladesh build ‘smart cities’

Sweden is ready to help Bangladesh build “smart cities” as Dhaka wants to see Stockholm as its “partner” in achieving the sustainable development goal 11.

The goal calls for making cities to be “inclusive, safe, resilient and sustainable” in order to look ‘smart’.
“It’ll be good to do this in a formal framework like MoU and I hope we’ll be able to pursue that,” Swedish Ambassador Johan Frisell told bdnews24.com.
He noted that a number of Swedish private companies were already working with the Bangladesh government at different levels in this regard.
The Ambassador was speaking to bdnews24.com on the sidelines of a seminar in Dhaka on Monday.
The Swedish embassy hosted the seminar on ‘smart city’ with local government minister Khandker Mosharraf Hossain as the chief guest.
In his remarks, the minister said the government would like “to see Sweden as our partner in achieving this goal (11)”.
Sweden is known for its smart-city building model known as 'Symbiocities'.
The Ambassador said such cities would have solutions to such 21st century challenges as reducing energy dependency, getting clean air, lessening traffic congestion, ensuring transportation for all, security, safety, and surveillance system.

“There are solutions for each individual problem, but then (in a smart city) you have to connect it,” he said.“For example, you produce energy from waste and then use it for bus services. Smart city is doing smart things and connecting them”.
He said Sweden had developed this smart city idea in the last 20 to 25 years. “We have lots of experience at the government level. We have a lot of Swedish companies which have solutions and products”.
Representatives of several Swedish companies related to waste management, transport, power, IT, traffic control and surveillance participated at the seminar. The firms are ABB, Axis Communications Pte Ltd, Ericsson Bangladesh Limited, Hifab, Scania, Sensys Gatso and Volvo.
Dhaka North City Mayor Annisul Haq sought their technological support so that he could fulfil his pre-election commitment to make Dhaka a smart city.
“We are in the process of making a smart city,” he said.
Dhaka is currently considered one of the worst cities in the world to live in with its myriad problems ranging from notorious traffic congestion to water logging during rainy season.

But the Ambassador believed that it was “possible” to turn Dhaka into a “smart city”.  “I think (this is) even necessary,” he said.Mikael Kyander, director exports of the carmaker SCANIA, told bdnews24.com that Bus Rapid Transit (BRT) would be the “most cost and time efficient” solution to Dhaka’s transport problem.
“We have the BRT (Bus Rapid Transit) system operating in South Africa and South America,” he said. This Swedish carmaker offers such solutions apart from selling buses, trucks.
“We would very much like to meet your authorities and convey what we can offer. We see huge potentials in Bangladesh for business,” he said.
Johan de Villiers, Managing Director for South-East Asia of the ABB, told bdnews24.com that his firm had all the technologies to support Bangladesh build smart cities in terms of energy efficiency.
The ABB is a global leader in power and automation technologies.
Villiers said different countries would need different things to build a smart city.
“It depends a lot on the phase of the country’s development,” he told bdnews24.com, “For Dhaka a lot of basic infrastructure is needed”.
Syed Afsor H Uddin, CEO of Public Private Partnership (PPP) Authority, promised to address investment bottlenecks, if any, in Bangladesh.