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Home Minister Asaduzzaman Khan said on Monday the government will take action after verifying the authenticity of Transparency International Bangladesh's (TIB) report over alleged bribery in giving police clearance for the issuance of a new passport, reports UNB. "We're yet to examine whether TIB findings are authentic. We'll take action verifying these," he told reporters replying to a question after a meeting of the committee on resisting militancy at the Secretariat in the city. The minister, however, said the government hardly finds such complaints authentic when it verifies these. "When we find these genuine, we take action, and will do so..." TIB on Monday revealed the report of a study showing that 76.2 per cent passport seekers face irregularities and corruption, while 75.2 per cent have to bribe police for cop clearance to have a new passport. The TIB report also recommended dropping the police verification system from the issuance of new passports. About curbing militancy, the Home Minister said three agencies --Criminal Investigation Department (CID), Special Branch (SB) of Police and Bangladesh Financial Intelligence Unit (BFIU) of Bangladesh Bank- placed reports at the meeting over the sources of terror financing. He said the three agencies were asked to place a complete report over sources of terror financing within the next two months. Asaduzzaman said Islamic Foundation and Madrasa Board were asked to be careful during printing madrasa textbooks for the next academic calendar so that no misleading information remains there. As part of curbing militancy, the intelligence agencies were directed to keep educational institutions and social networking sites, including Facebook and Twitter, under their surveillance, he said. Noting that Rohingyas engage in various crimes in many cases, the Home Minister said the intelligences were asked to keep watch on them, too. When his attention was drawn to international media reports that a Bangladeshi origin man might have link to the recent terrorist attack in Spain, he said Bangladesh can keep its watch on only its people, but it cannot keep watch on those who have taken foreign citizenship, he added. Chaired by the minister, the 7th meeting of the committee on resisting militancy was attended by the chiefs of law enforcement and intelligence agencies, and representatives of the Islamic Foundation and BFIU.....

Published at: 2017-08-22 05:00:05

Bangladesh has achieved a remarkable success in combating money laundering and terror financing, as the country improved its position by 28 points in an international ranking by a Switzerland-based organisation, reports BSS.    The Basel Anti-Money Laundering (AML) Index for 2017, developed by the Basel Institute on Governance, puts Bangladesh at 82 in the annual ranking that assesses 146 countries regarding money laundering/terror financing risks. Last year, Bangladesh's position was 54 on the scale that puts the most risky countries on the top, followed by the countries where the risks of money laundering and terror financing are comparatively lower. The Basel Institute noted that Bangladesh is the 4th country among 10 countries that made progress in combating money laundering and terror financing faster than other countries. According to the 2017 index, Iran and Afghanistan are the highest risk countries while Finland is the lowest risk country. In the index, the US ranked 116 and the United Kingdom 118. The Basel Institute of Governance has been publishing the AML index since 2012, measuring the risks of money laundering and terror financing of countries based on five major indicators. These include lack of measures against money laundering and terror financing, lack of public transparency, high level corruption concept index, financial standard and transparency and weak political rights and rules of law.....

Published at: 2017-08-22 05:00:05

An outmoded law governing Bangladesh Railway (BR) is now up for an update, after more than 125 years, for improving the rail-communications system and services to match up to modern-day demand. Officials said the Railway Act 1890 will be amended for the first time since its enactment though it was consolidated before end of the British era. They said in the present context, many rules, systems and amount of fines or punishment were found obsolete to run nearly 2,900 kilometres of rail route in Bangladesh. Besides, the amendment will help the BR improve its efficiency levels and services to fit in the present context. "In some cases, the British-old act introduced 50-paisa fine which cannot be suitable in the present time. So amendment will change those things and find avenues to improve," said one official. He said decision to amend the act was taken recently but they had yet to start the process. The official, however, said the review of the Railway Act will be completed within this year as it is a part of the Ministry of Railway's annual performance target. Sources said the BR initiative is linked with government's directive for translating all laws into both English and Bangla languages. While translating it into Bengali, the state-owned train operator feels the need for updating it. According to BR, the Railway Act 1890 was promulgated to operate entire train services under the British Empire which went through India, Pakistan and Bangladesh.   The act was modified by the Indian government in 1935. Pakistan inherited its authority from the Indian Independence Act 1947 and Bangladesh after its independence in 1971. India has replaced the act with a new law entitled 'The Indian Railway Act 1989'. The officials said although services of the BR were not improved in comparison with the then British times, the authorities recently took various measures to upgrade the pro-poor communications system by investing billions of taka. These include developing dual-gauge lines, meter-gauge and broad-gauge lines, electric train services etc. Bangladesh Railway is now governed through east-and west-based administrative divisions which are now planned to be increased by two more. The BR has developed only 300 kilometres of route since independence due to long negligence to the safe transportation service. The government has also recently been developing master plan to set up railway system throughout the country.     smunima@yahoo.com....

Published at: 2017-08-22 05:00:05

Thirty-nine global firms are willing to supply spot LNG to Bangladesh as the government plans spot purchase of the new fuel from the international market, officials said. The firms from the US, the UK, Australia, Italy, Spain, Switzerland, Norway, Japan, Singapore, Hong Kong, Malaysia, India, Bermuda and Malaysia and their consortia submitted bids for exporting lean LNG (liquefied natural gas) to Bangladesh. Managing director of the state-owned Rupantarita Prakritik Gas Co Ltd (RPGCL) Md. Quamruzzaman disclosed Monday the development in LNG-import process. Fifteen of the bidders are from Singapore, three from Japan, two each from the United States, the United Kingdom, Norway, Hong Kong, and Bermuda and one each from Italy, South Korea, India, Australia, Spain, Switzerland, Malaysia and Bangladesh. The Singpore-based firms that submitted express of interests (EoIs) independently are BB Energy (Asia) Pte Ltd, EDF Trading Singapore Pte Ltd, Statoil Asia Pacific Pte Ltd, Gazpram Marketing & Trading, Singapore Post Ishak, Gail Global (Singapore) Pte Ltd, Cheniere Marketing International LLP, GAS Natural Fenosa LNC Singapore Pte Ltd, Diamond Gas International Pte Ltd, Trafigura Pte Ltd, Gunvor Singapore Pte Ltd, Pavilion Gas Pte Ltd, Vitol Asia Pte. Ltd, and Itochu Corporation. The three Japanese companies that submitted EoIs are Jera Co. Inc, Marubeni, Mitsui & Co Ltd, and Osaka Gas Co. Ltd. Other EoI-submitting companies include Chevron USA Inc. and Excelerate Energy Ltd Partnership from the US, Carillion Ambs Ltd (Centrica) and Engie Global LNG UK Ltd from the UK Statoil ASA and Hemla Energy AS of Norway , Nobel Group Ltd and CNOOC Gas and Power Trading & Marketing of Hong Kong, Golar LNG Ltd and Shell (International) Trading Middle East Ltd (SITME) of Bermuda, Star Infrastructure Development Consortium Ltd of Bangladesh, and Eni of Italy, AOT Trading AG of Switzerland, Iberrdrol LNG organization of Spain,  Posco Daewoo Corp. of South Korea, Woodside Petroleum Ltd of Australia, Global LNG SDN BHD of Malaysia, Indian Oil Corp. Ltd of India. Three separate JVs - Japan's Toyota Tsusho Corporation and India's Adani Ports, Anglo-Dutch Total and UK's Premier LP Gas Ltd - also submitted bids. Local Summit Corp. Ltd & Summit Oil & Shipping Co. Ltd also took part in the bidding. "We shall complete evaluation of the EoIs within one month to shortlist potential LNG suppliers on the basis of their trading experience and their ability to deliver the right cargo as per specifications to both onshore and offshore terminals on spot basis," Mr Quamruzzaman told the FE. Shortlisted participants and RPGCL will sign sales and purchase agreements governing the spot LNG supply with a validity of at least five years, he said. The imported LNG is to be blended with locally produced gas - sulfur-free sweet gas - for delivering the energy mix to the end-users so the LNG's sulfur content should be low. The LNG should be supplied on a delivered ex-ship basis and the vessel size should range between 125,000 cu m and 220,000 cubic metres. Bangladesh will not restrict the number of shortlisted applicants, the company MD said. "We will procure spot LNG based on market prices, terminal availability, increased re-gasification capacity and downstream demand," he added. RPGCL, a wholly owned subsidiary company of the state-owned Petrobangla, is in charge of the country's LNG purchases meant for meeting a growing fuel demand that outstrips the natural gas output in the country.     Azizjst@yahoo.com....

Published at: 2017-08-22 05:00:05

A direct overture by Chinese automaker Great Wall Motor Co Ltd to Italian-American automaker Fiat Chrysler Automobiles NV sent FCA shares up sharply on Monday, as investors cheered the potential sale of the storied Jeep brand. It was not immediately clear whether Great Wall Motor wanted all or part of FCA, reports Reuters Automotive News first reported earlier on Monday that Great Wall Motor's President, Wang Fengying, plans to contact FCA to discuss acquiring the Jeep brand. "With respect to this case, we currently have an intention to acquire. We are interested in (FCA)," an official at Great Wall Motor's press relations department told Reuters. He declined to give his name and gave no further details. Two people familiar with the matter said Great Wall Motor had asked for a meeting with FCA to make an offer for all or part of the group. FCA, which is incorporated in the Netherlands and based in London, said in a statement it had not been approached by Great Wall Motor, and was implementing its current business plan. Its main investor, Italy's Agnelli family, declined to comment. FCA Chief Executive Sergio Marchionne has said that he wants to find a partner or buyer for the world's seventh-largest automaker as costs rise to comply with emissions regulations and develop technology for electric and self-driving cars. So far, however, Marchionne and company chairman John Elkann have not opened the door to selling Jeep or the profitable Ram truck business in North America as standalone units. If Marchionne is willing to sell Jeep on its own, other automakers like Volkswagen AG, General Motors Co, or Ford Motor Co might show interest, analysts said. Jefferies said in a research note last week that a key question of a Chinese acquisition of some or all of Fiat Chrysler is the "political feasibility of such a transaction given (automaker mergers and acquisition) is often held to a different standard in the current political environment.” But Jefferies noted "Chrysler's background which has included multiple changes of ownership, including two foreign acquirers" in two decades. Jeep targets sales of 2 million vehicles in 2018 worldwide, up from 1.4 million in 2016. Marchionne has said deliveries from the SUV brand could eventually rise to as many as 7 million a year. Great Wall Motor, China’s largest sport utility vehicle (SUV) and pickup manufacturer, would be making an audacious move in taking on FCA, which has a market value of more $20 billion after a 48 per cent runup this year. If Great Wall, with a market value of about $16 billion, bought FCA it would be China's largest overseas automotive industry deal to date - dwarfing Geely's 2010 billion acquisition of Volvo cars. Fiat Chrysler's shares rose nearly 7 per cent to close at $13.44 in New York on Monday, and also rose by the same percentage in Milan, the highest share price for Fiat in 19 years.....

Published at: 2017-08-22 05:00:05