Danone plans to open second yogurt plant in Bangladesh

Danone plans to open second yogurt plant in Bangladesh
April 29, 2008

PARIS (AFP) - French food group Danone plans to build a second
yogurt-producing plant in Bangladesh in conjunction with the Grameen
Bank, Danone chief executive Franck Riboud said Tuesday.

He told a shareholders' general assembly in Paris that the project would
get underway near the end of the year, but he did not reveal where the
plant would be located nor when it was expected to enter service.

The Grameen Bank, established in 1976 by the Nobel Prize-winning
economist Muhammad Yunus, relies on micro-credit to empower the poorest
of the poor to boost their incomes and raise living standards.

A first yogurt plant, held 50-50 by Danone and Grameen Bank, has been in
operation since March in Bogra, northern Bangladesh, said Danone
managing director Emmanuel Faber.

The Bogra facility will turn out 3,000 tonnes of yogurt a year made from
milk supplied by 300 micro farms, having on average four cows each, that
were created with credit from Grameen Bank.

Faber said a sharp rise in the price of milk had put pressure on the
operation, which is designed provide yogurt for the country at low cost.

Riboud meanwhile confirmed Danone's 2008 target to boost sales by 8.0 to
10 percent, up from the previous range of 6.0 to 8.0 percent.

Bangladesh seen growing 5.5-6 pct despite disasters: IMF

Bangladesh seen growing 5.5-6 pct despite disasters: IMF
April 27, 2008

DHAKA (AFP) - Bangladesh's economy could grow by 5.5 to 6.0 percent this
fiscal year, the IMF forecast on Sunday, saying it was hiking its
projection because the nation was recovering well from twin natural
disasters.

Earlier the Washington-based International Monetary Fund (IMF) forecast
growth of 5.0 to 5.5 percent for the financial year to June after
massive flooding and a devastating cyclone dealt a major blow to
economic activity.

"With exports recovering and a strong Boro (dry season rice) crop being
harvested, real GDP growth of 5.5-6 percent appears possible," IMF Asia
Pacific adviser Thomas Rumbaugh said.

The IMF forecast was slightly below the military-backed government's
projection of 6.0 to 6.2 percent for this financial year.

The impoverished nation's economy has made a good comeback from bad
flooding in July and August and the cyclone, Rumbaugh said.

But in the near term high food and commodity prices remain "the biggest
challenge" for Bangladesh, Rumbaugh said.

He said he welcomed the government's expansion of its social safety net
to offer free or subsidised food to tens of millions of poor people and
fuel subsidies totalling more than 1.2 billion dollars.

"This increased spending to help protect vulnerable groups from the
impact of high commodity prices is appropriate," he said.

Inflation which is hovering around the 10 per cent mark will also remain
a key economic challenge, he said.

Boeing wins $1.27 billion Bangladesh offer

Boeing wins $1.27 billion Bangladesh offer
Tue Apr 22, 2008
By Masud Karim

DHAKA (Reuters) - Bangladesh Airline Biman has ordered eight planes
worth $1.27 billion from U.S. aircraft maker Boeing (BA.N: Quote,
Profile, Research) to be delivered by 2020, officials said.

Boeing will supply four 777-300ER aircraft by 2013 and four 787-8s
Dreamliner aircraft by 2020, according to a final deal signed on
Tuesday.

The airline also agreed to buy two more Boeing aircraft worth nearly
$110 million by 2015 to boost flight frequency.

The airline rejected a separate offer from Europe's Airbus (EAD.PA:
Quote, Profile, Research) to supply four aircraft from any of the A-320,
A-321 and A-330 models.

Boeing will supply the four 777-300ER aircraft by 2013 and the four
Dreamliners between 2019 and 2020.

"We will also buy two Boeing 737-800 aircraft with the price nearly $55
million for each plane," Mahbub Jamil, chairman of Biman told a news
conference.

Boeing has pledged to supply the two 737-800 aircraft by 2015, another
Biman official said.

Biman, which will fund the purchase through bank loans, became a public
limited company in July, still 100 percent state-owned, as part of
rescue plan by the country's army-backed interim government.

"We are extremely happy on the order and decision to buy more aircraft
from our company," said Marty A. Bentrott, a senior vice president of
Boeing.

Biman was forced to halt its flights to New York, Paris, Tokyo,
Frankfurt, Brussels, Yangon and Mumbai in 2006 due to a shortage of
funds and aircraft.

Bangladeshi Biman plans to modernise and expand its fleet to enable it
to reopen the routes it had to close, Jamil said.

To meet immediate needs, Biman will lease two aircraft to reopen its
Dhaka-London-New York route.

It flies 19 international routes with a fleet of 11 aircraft, but faces
competition from four smaller, local private airlines, one of which has
extended its operations to include regional routes connecting the
Bangladeshi capital Dhaka to Kuala Lumpur, Singapore, Delhi and Dubai.

Bangladesh extends tenure of army chief

Bangladesh extends tenure of army chief
Sun Apr 6, 2008

DHAKA, April 6 (Reuters) - Bangladesh's army chief will stay in his
position until the middle of 2009, meaning he will be in place when the
country votes in an election to be held by the end of this year, the
interim government said on Sunday.

"The service tenure of General Moeen U. Ahmed has been extended up to
June 15, 2009, in the public interest" a government statement said.

Moeen, who has strongly supported the army-backed interim authority in
its effort to restore democracy, was due to retire on June 15 this year.

The interim government took over in January 2007 following months of
deadly political violence. It imposed a state of emergency and launched
a drive against corrupt politicians.

The army is also helping the Election Commission to prepare a new
voters' list with photographs to ensure that the coming election,
expected between October and December, would be free from rigging.

The interim government, headed by former central bank governor
Fakhruddin Ahmed, have detained more than 170 key political figures
including two former prime ministers, Sheikh Hasina and Begum Khaleda
Zia, in the anti-corruption drive.

They are facing trial for alleged graft and abuse of power, which they
both deny.