An Eid Escape

September 29, 2008

By Nayeema Reza

No matter how you may say that Eid is ‘boring’ or ‘dreary’, you ought to admit that despite whatever you state, you do don on that new kameez or your favorite panjabi every single year and look forward to the so called mundane day. Oh come on, it’s not even close to being as bad as some people assume it to be. After all for guys, Eid is one of those occasions when your mother won’t wake you up from sleep with a kick, instead its one of those rare instances when she will simply draw open the curtains in your room so that the sunlight can filter through…and well eventually wake you up (and if that doesn’t work, then the kick might come in next anyways!). On the other hand, hopefully waking up at 7.30 in the morning to take a shower wont be as painful since its nowhere close to being winter! We girls however, get the luxury of sleeping in a little! After your return from the masjid, hugging your family members saying ‘Eid Mubarak’ and gobbling down the scrumptious shemai, shuji and peetha’s made by your mother are all just the beginning of a day that is simply brimming with soul and tons of fun. The roads bustle with cheerful people, rich and poor, dressed in colorful attires traveling in rickshaws with wide smiles on their faces while leaving all their worries behind, even if it is for one single day. Indeed Eid is a festive occasion that should not be spent browsing through the net and if you still think that the day is unexciting and ordinary, then please, bear with me. Make this THE Eid you’ll never forget…oh well, I might as well be a little ‘khet’ and say ‘Kal Ho Na Ho’!!

Eid Away

  1. While most people stay in Dhaka for Eid, a major percentage of the city’s population migrate temporarily to their hometowns and villages for several days at a stretch. If you don’t happen to fall into that category but you have a friend who does, then you are just the right candidate to pull off this thing. On any one of the three days of Eid, get ready to visit that friend who is out of town for the holidays (make sure your friend is expecting you!). Since getting bus tickets during this time of the year can get tricky, try arranging for a car and make sure you take things that may come in handy for the little trip. You could start off early in the morning to avoid the traffic jams and once you get there, get ready to have an amazing day!
  2. Now there are plenty of things you cold do since village Eid’s are quite interesting. You get to see weird people watching scary (which to them is romantic) Bengali movies in other people’s homes and if you can’t help your self then feel free to join them! You could set up a BBQ, camp out (if you intend to spend the night there), dive into the ponds, take a boat ride with your friends, play all sorts of games, go cycling, explore the village, fly kites, sit under a starlit sky and have a classic ‘Adda’…sounds good right?!

A Party in the Skies
Why not have a party in the skies? No, not on white fluffy clouds and powder white skies…I’m talking about your roof top! Decorate the roof with lamps and lights and invite your relatives, cousins or friends over. Even though it’s Eid, you could still ask people to bring a dish with them so that way you won’t have to worry about the food. You could have a karaoke night and maybe a little ballroom dancing too even if it’s not really a ballroom… but who cares?!


An extra friend can help push when out of gas…

Crashing into Homes
If you have been doing the same old thing every single year, then this proposition might tempt you. Okay; so do you remember all those times when you refused to visit those distant relatives with your parents on Eid because it was just so boring? This year, do go visit them…and get some friends to tag along. I admit, it does sound a little hilarious, but it could really work. Look at it this way- you get free food, you have so many places/houses to go and you have a great time with friends! Since the victims are either your or your friends’ relatives, they can’t really say anything to you…after all its Eid!

Show me watcha got
This is one of my personal favourites! It’s about arranging a sort of drama or talent show at your own house. Anyone and everyone can participate in this one- starting from your grandparents to your little cousins. You could set up a platform and even hook up a mike to your PC and speakers. It might give your grandfather an opportunity to show off how good he is at cracking jokes, even if you had no clue about it. Your own mother might sing her favorite song while your friend strums on the guitar strings. Friends could act out a famous play or write one themselves! The best thing about this is that you get to spend time with people who are close and it’s also a way to get even closer.

Go out and go crazeh
Going to Movenpick every Eid for ice cream and ’sight seeing’ has become almost a ritual! Doing the things that almost everyone else does isn’t such a bad idea after all. You could go on long drives, eat out and hang around with friends all day long. It’s far better than sitting at home doing nothing except for staring at your new clothes, wondering when you’ll wear them!

In the end, Eid is about celebration and there is no reason why one should miss it. Sadness, hardships and difficulties are all a part of our life. The trick is to live each day as it comes, spend each moment the best way possible. Hope you have a great Eid and a great life. Eid Mubarak!

Source: The Daily Star

Aarong’s Eid collection

September 29, 2008

Using semi-precious stones with gold or silver, Aarong has created beautiful jewellery pieces that depict traditional themes in modern interpretations.

Cultured pearls, rubies, zircons, and emeralds have lent colour and a dash of festivity to oxidized earrings and necklaces that come in many styles, detailed and glamorous or modern and minimalist.

Comet shaped earrings are prominent this year and so are chandelier earrings. Circular and oval designs have also been extensively used; small tops will also be featured for young ladies who prefer to be simple and chic.

Keeping true to global fashion trends, Aarong has explored the realm of metallic shades for shoes and purses. Quilted purse in golden, silver, bronze tones, and colourful ones made from Dupian silk, which would be prominent in this seasonal collection.

Metal studs, coins, and beads have embellished leather sandals and sandal-shoes that can be paired with saris and shalwar kamiz. Mirror-work and stone patterns have added zest to classic sandals that can be worn with comfort.

As a twist to the Kolapuri, Aarong has also brought forth tribal sandals that can be worn with tribal wear for a unique finish. Beads, and tassels adorn these sandals, which have been inspired by the landscapes, cultures, and traditions of the indigenous people around the world.

Source: The Daily Star

Economic zones for planned industrialisation stressed

September 29, 2008

Experts at a media briefing on Sunday emphasised that the country needed to go for planned industrialisation instead of the present disorganised one, setting up exclusive economic zones.
The International Finance Corporation’s Bangladesh chapter organised the programme in a Dhaka hotel where Mustafizul Hye Shakir, investment policy analyst of the World Bank’s private sector lending arm, detailed the benefits of economic zones and their success and failure stories.
He defined economic zone as a geographically delimited area with a special regime and a single administration that delivers services to zone tenants on a day-to-day basis.
Senior programme manager of IFC’s Bangladesh Investment Climate Fund Syed Akhter Mahmood, programme manager Martin Maxwell Norman and international expert on economic zones Deborah Porte also spoke on the occasion.
The experts and officials responded to a volley of questions from participant journalists about the necessity of establishing new economic zones, while the government failed to ensure energy supply and other facilities to the existing industries.
Syed Akhter Mahmood said the country could not afford to stop new investment citing gas and power crisis. ‘The government must find out alternative sources of energy and new investments will come in. So, now it is the matter whether we want industrialisation in an organised way or not,’ he added.
The council of advisers approved the Economic Zones Ordinance in principle two months back and the final approval is expected shortly, the meeting was told.

Source: New Age

Turning safe automobiles into vehicles of death

September 29, 2008

Substandard gas cylinders still being widely used
Explosives department officials seize a number of substandard CNG cylinders at a conversion workshop in the city’s Segunbagicha. Photo: STAR
Unauthorised workshops have been converting fuel oil run motor vehicles into compressed natural gas (CNG) powered ones fitting them with cylinders that are not made for containing the specific type of gas, turning safe automobiles into vehicles of death.

The substandard cylinders often are made from metal electric poles, oxygen cylinders, cylinders of fire extinguishers, and other kinds of materials not suitable for making CNG cylinders, according to officials of the Department of Explosives.

Some legal conversion centres also often use similar substandard cylinders and other conversion kit parts ignoring the fatal risk factor, the officials added.

They said noticing widespread use of inappropriate cylinders in converted motor vehicles, the department already intensified its inspection drive and expanded it countrywide.

According to the rules made by Rupantarita Prakritik Gas Company Ltd (RPGCL), the CNG conversion monitoring authority in the country, a CNG cylinder must be able to withstand pressure of 3,000 pounds per square inch (psi).

But the substandard cylinders being used in converted automobiles can barely withstand 1,000psi of pressure.

An official of RPGCL, which is also responsible for issuing licenses for CNG conversion workshops, said the cylinders that exploded in the country so far were all substandard, and no standard cylinder exploded so far.

AHM Nuruzzaman, assistant explosives inspector, told The Daily Star, “Apart from the capital city, officials in Rajshahi, Sylhet and Chittagong divisions were also directed a week ago to launch drives against illegal CNG conversion centres and also against irregularities in authorised workshops.”

He said, “Earlier the drives were limited to the capital.”

“We sent notices to divisional officials as part of our decision to intensify and expand our drives as we noticed the irregularities outside the capital too,” he said.

Nuruzzaman narrated his inspection experience saying, “Can you imagine, use of substandard cylinders made from electric poles, fire extinguisher cylinders and oxygen cylinders was almost the norm when conversions just began in the country, which has subsided a little nowadays.”

He said since February this year they shut down at least 20 unauthorised conversion centres, and seized about 30 substandard cylinders from different workshops and vehicles.

Taking advantage of a lack of monitoring by the authorities, the conversion workshops, most of which are located in and around the capital, use substandard conversion kits to attract vehicle owners looking for a bargain, sources said.

A proper CNG conversion carries a price tag of Tk 50,000 to Tk 70,000, while the cost of a substandard conversion ranges between Tk 10,000 and Tk 20,000, said a number of experts.

Standard CNG cylinders are quite expensive as they are imported, mostly from Argentina, Brazil, UAE, South Korea and India.

RPGCL sources said currently, the country has 192 authorised CNG conversion centres.

The number of CNG-run vehicles across the country stands at nearly 1.5 lakh while 6 lakh vehicles are powered by petrol or diesel.

Over one lakh CNG-run vehicles are registered in Dhaka, according to Bangladesh Road Transport Authority and RPGCL sources.

Source: The Daily Star

Singapore rises to No. 3 financial centre in global index

September 29, 2008

Ann/The Straits Times

Singapore has been ranked the No 3 financial centre in the world behind New York and London in a new survey, commissioned by the City of London.

It has risen one place from last year, thanks to its strong regulatory environment, and has overtaken rival Hong Kong, according to the Global Financial Centres Index released recently.

The half-yearly survey of 59 cities was conducted in July.

It found that the fallout from the credit crunch had narrowed the lead of London and New York over Asian and Middle Eastern financial centres.

Singapore enjoyed a rise of 26 points–more than any other centre in the top 20 ranking.

It was rated by the survey of 1,406 financial services professionals as being “competitive” in the 57 factors used to rate each centre.

These factors included regulatory oversight and the tax environment.

Stuart Fraser, head of policy for the City of London, told the Financial Times that Singapore was benefiting from a perception that it was already well regulated and hence less likely to face a regulatory crackdown.

“London and New York are the two global cities and they are going to remain the global cities for a while yet, but (other centres) will close the gap a bit,” he was quoted as saying.

“Singapore and Dubai are recruiting people. That makes them look positive.”

Singapore scored 701 points in the ranking, 73 points behind New York and one ahead of Hong Kong.

The survey noted that Dubai was identified most frequently by respondents as “likely to become significantly more important in the next few years”.

Singapore was mentioned 10 times, compared to 22 times for Dubai. Shanghai was mentioned eight times.

Source: The Daily Star

Bangladesh keeper Khaled Mashud retires

September 29, 2008

Former Bangladesh captain and the country’s most successful wicketkeeper Khaled Mashud has retired from international cricket, the cricket board said on Sunday.
Mashud, 32, was dropped from the team for the World Cup 2007 and his last Test was against Sri Lanka in June last year.
“The board gratefully acknowledges Mashud’s immense contribution to the national team for over a decade,” Bangladesh Cricket Board said in a statement.
Mashud, also a handy batsman, scored 1818 runs in 126 one-day internationals, with 91 catches and 35 stumpings.
The announcement came as Bangladesh cricket struggles with the sudden retirement of at least 13 players, including seven from the national team to play in the unofficial Indian Cricket League (ICL).
Mashud, whose career highlight was an unbeaten century that helped his side secure a draw in their first Test in the Caribbean in 2004, said he was saddened to quit the game. “I have made this decision after a lot of soul searching and this is a very emotional moment for me,” he said in a statement.
“For the last 13 years I have tried to serve the country to the best of my ability and I thank the board for putting faith in my capabilities as a player and captain.”
It was unclear whether he might play in the ICL.

Source: The Bangladesh Today

Iraq signs billion-dollar power deals with GE, Siemens

September 29, 2008

Iraq has signed preliminary deals worth billions of dollars with General Electric Co and Siemens for equipment to almost double electricity generation capacity, an energy official said on Saturday.

The deals with GE, Siemens and a third company would be worth a total of $7 billion to $8 billion, Iraq’s Electricity Minister Karim Waheed told Reuters. Years of war, sanctions and neglect have battered Iraq’s power grid and the country suffers chronic power shortages. The capital Baghdad receives only a few hours of electricity a day. The deals would mark a big step in the country’s reconstruction, Waheed said.

“These deals will help us to end the electricity supply problem by 2012,” Waheed said on a private visit to the United Arab Emirates. Iraq signed a memorandum of understanding (MOU) earlier this month for US giant General Electric to supply turbines to generate 6,800 megawatts of power, Waheed said.

He declined to say how much Iraq would pay GE for the equipment, but said each megawatt would cost between $700,000 and $800,000. That would give a value of between $4.8 billion and $5.4 billion.

The country has signed a second MOU with Germany’s Siemens to supply equipment to generate another 2,000 MW, he added. That deal would be worth between $1.4 billion and $1.6 billion.

Baghdad was negotiating with a third company for another 1,000 MW, he said, declining to give further details.

The three deals would enable Iraq to add around 10,000 MW to installed capacity by around 11,000 MW. Damage to the power stations, lack of maintenance and drought mean Iraq’s actual power production is well under capacity at around 5,500 MW. Demand stands at around 11,000 MW, Waheed said.

Iraq plans to approach engineering, procurement and construction (EPC) firms to build the plants once the deals are signed, he added. While big international companies were still reluctant to send people to work in Iraq, improvements in security had improved Baghdad’s chances of attracting companies to undertake the work, he said.

Iraqi oil officials will meet Russia’s Technoprom Export on October 12 to review a $124 million deal to repair 400 MW of power generation capacity in the southern city of Basra. The World Bank will fund the deal, he added.

The deal was one of several frozen after the US-led invasion of Iraq in March 2003. Iraq is also negotiating with Russia’s Power Machines to revive another old deal to build two plants with 160 MW of capacity each in Iraq’s north, he added.

Iraq signed a deal with GE for three power plants worth $480 million in June.

Source: The Daily Star

27th BCS examinees want PSC head ousted

September 29, 2008

A group of 27th BCS examinees on Saturday demanded cancellation of the recent exam results and ousting of the PSC chairman, accusing him of discrimination and irregularities.

Mahfuzur Rahman, who had stood first among the customs cadre in the previously published results, read out a written statement to reporters at a press conference at Dhaka Reporters’ Unity.

Mahfuzur said Public Service Commission chairman Dr Sadat Hossain failed 67 percent of students who achieved success through the quota system in the first published results.

The BCS examinee alleged that Dr Sadat himself took advantage as a freedom fighter to have his service tenure increased two years and be promoted to cabinet secretary.

Such double standards are not acceptable, said Mahfuzur.

He demanded a “judicial investigation” into the disputed results, punitive measures those who meddles with the results, an end to decisions imposed upon civil service recruitment, and reconstitution of the PSC.

Examinees Mohammad Sohel Rana, Mohsin Sikdar, Anwar Sadat Muhammad Sayem, Farrukh Ahmed, Abu Sayeed Mohammad Faysal, Prosenjit Guha and president of Amra Mukti Joddhar Santan Humayun Kabir were present.

Mahfuzur said they would submit memoranda to the president and chief adviser on Sunday and stage a symbolic hunger strike at the Central Shaheed Minar on Eid day to press for their demands.

Source: The Daily Star

Town and transportation planning

September 29, 2008

The purpose of urban planning is to secure that the places where people live, work and play shall be arranged so as to promote the most pleasant and efficient balance between people and their environment. Firstly, the welfare of the people who live in any town is the primary consideration, their health, their convenience and the amenity or pleasantness of their surrounding. Secondly, the towns ought to be functional; they are built to serve specific economic, social or political purposes. They are planned to be functionally prosperous and efficient.

Land use, transportation and utility services are the three basic components of urban planning. Land uses (i.e. the location of activities) are the generator of traffic. Hence, land use planning and transportation planning cannot be separated from one another. Again the utility services need to follow the road network. If the utility services are provided without planned development of road network, then the services are likely to be expensive and wasteful. Hence, planning of land uses, transportation and utility services should be done in an integrated way.

The main objectives of urban planning are:
a) to make the city functionally efficient for all the residents, users and visitors,

b) to make the city environmentally healthy, convenient and safe,

c) to make the city economically prosperous and sustainable,

d) to make the mobility and access swift, efficient, convenient and easy for the traffic (pedestrian, passenger and goods),

e) to make the city ecologically balanced and aesthetically pleasant

Planning should secure a proper relationship of man, activity and place, that is, to secure a proper relation between social, economic and physical aspects of the environment.

Some basic principles of land use planning:
In order to achieve all these objectives, some general principles of urban land use planning are needed to be followed. The general principles which influence urban land use planning are discussed in the following: -

1. Functional efficiency: Cities may be efficient or inefficient. An efficient city is one in which people can work and perform their tasks easily, conveniently, and economically. That is, the performance of tasks requires less effort, less time and less cost. On the other hand, when the city is inefficient, performance of tasks require more effort, more time and more cost. The functional efficiency of a town primarily depends on

a) the provision of appropriate facilities according to requirement

b) the organization of land uses or activity areas according to their hierarchy,

c) the grouping of facilities according to their relationship and compatibility,

d) the linkage between the activity areas and the ease of movement

e) the overall compactness of development.

2. Compactness in development: Planning should seek to achieve compactness in development. Sprawling and scattered development should be avoided as far as possible. In case of sprawling and scattered development, investment on roads and utility services become uneconomic and wasteful, and the community facilities (such as schools, shopping centres, health centres, community centres etc.) may not be provided within easy accessibility, whereas in compactly built-up areas it becomes possible to provide all the facilities economically within easy and convenient accessibility.

3. Organization of land uses:

  • Siting, location and organization of land uses, activities and functions should be made compatible, convenient, mutually helpful and sustainable. There are certain natural tendencies in the spatial organization of land uses and activities which should be taken care of in planning.
  • Certain similar activities tend to segregate in some area and assume certain homogeneous qualities within the town, such as, residential areas, industrial areas, commercial areas etc.
  • There are certain land uses which tend to be scattered and uniformly distributed within the city, such as, schools, play ground, parks, mosques, markets, shops, community centres etc.
  • Certain activities tend to be located in the central part of the city, such as, offices, commercial areas, civic and cultural centres etc.
  • Some land uses tend to be located in the fringe areas such as high class residential areas, cemeteries, water works, garbage disposal sites etc.
  • Certain activities tend to be located on particular sites because of their highly specialized needs, e.g. shopping activities are located at the areas which are easily accessible by large number of population from different directions; manufacturing industries are located at the areas with cheap land values but having good transportation facilities; port areas are located on the water-front.
  • Certain dissimilar land uses are compatible or mutually helpful with each other, as for example schools, play ground, parks, corner shops etc. are compatible with residential areas.
  • On the other hand, certain contrasting activities are detrimental to each other, as for example, the antagonism between residential areas and factory development; and retail business areas are antagonistic to the means of loading and unloading in the wholesale business areas.
  • High-class residential areas tend to locate on flood-free high lands on the periphery of the city away from central congestion but require good accessibility with the central activity areas. Low-class areas tend to occupy the undesirable sites along railways, beside industrial and commercial area, and on flood-prone area.
  • Among the various land uses of a town some are favourable to each other and some are detrimental to each other. Some land uses demand central locations and some may be located in the peripheral area. Planning of land uses seeks to locate each of those at its appropriate location

4. Mixing vs. segregation of land uses: Mixed land use development increase proximity by bringing things closer, makes the travel distance shorter and tend to reduce dependency on vehicular traffic. But unplanned mix without zoning plan greatly reduces the functional efficiency of offices, commercial areas and service industries. On the other hand, segregated land use increase the length of travel distance and tend to create traffic congestion on the roads, but segregated land use greatly increase the functional efficiency of office, commercial activity and service industry. Hence, a compromise between mixed land use and segregated land use may be sought.

5. The town centre or Central Business District (CBD): Ease of pedestrian movement is one of the prime requirements of a CBD area. Hence, as a modern concept of planning, the administrative areas, the shopping centres and civic centres are designed as pedestrian precincts from where private cars and vehicular traffic are excluded.

6. Residential areas: Privacy and tranquillity are the important requirements of residential areas. At the same time the residential areas are required to be self contained in respect of daily necessities, such as, schools, markets, playfield, community facilities, etc. In order to achieve all these requirements, the modern residential areas are better planned in the concept of neighbourhood unit. Within the neighbourhood unit, environmental areas may be created to make the area free from traffic nuisances.

7. Transportation linkages and mobility:

  • The functional efficiency of a city greatly depends on the pattern of linkage and the ease of movement. For easy and efficient movement, the circulation system of a city should meet certain basic requirement. Firstly, the vehicle users should be able to move from one part of the city to the other easily, safely and efficiently. Secondly, the roads should be arranged so that they provide adequate access to every building for vehicles and pedestrians. To meet all these requirements the cities must have a hierarchy in the system of road network. The roads which need high mobility cannot be used to give access to individual building or property. On the other hand, the roads which are designed for giving access cannot be used for high mobility or high speed. Therefore,a) Mobility relates to ease of movement and high speed.b) Accessibility relates to ease of entrance and exit to and from abutting buildings and properties.
  • Big cities must have a network of arterial roads to canalize longer movements from one part of the city to another or beyond outside the city easily, swiftly and efficiently. The most basic and fundamental principle of planning arterial road is that they cannot be used for giving direct access to individual building, property or any minor road. If this fundamental principle is not followed, the functions of arterial roads will be destroyed. Parking of vehicle is strictly restricted by the side of arterial road. Schools, shopping centres, offices, commercial centres etc. generate huge standing traffic at peak periods. The land uses which generate standing traffic on the road cannot be allowed by the side of arterial road unless those uses have separate access road or premises for the standing traffic which they generate.
  • When mobility levels in urban transportation system are low, dwelling areas remain in close proximity to the workplace with consequent densification and high compaction in development. On the other hand, when transportation system become easy and efficient, the dwelling areas tend to spread out in distant places away from the centre.
  • When the transport services remain difficult and inefficient, then the work places have the tendency to scatter and move towards less central locations. This reduces the functional efficiency of the workplaces because office-to-office relationship becomes difficult.
  • In absence of cheap, comfortable and efficient transportation system in urban areas, the workforce becomes compelled to depend on walking for work trips.
  • With a very difficult and inefficient transportation system and a very high dependency on pedestrian trips to job, the scope for large part of the workforce to choose between alternative job opportunities become exceedingly limited, Which ultimately reduces the opportunity of employment of right person in right place.
  • Transportation planning should not dictate land use development, rather land use planning should dictate transportation network. Transportation dictated land uses may cause various types of urban problems, e.g.

a) Ribbon development along urban corridors

b) Commercial development astride along arterial roads,

c) Commercial development on all sides of major road intersection,

d) Settlement growth by the side of national highways,

e) Sprawling development on peripheral areas, etc.

8. Strategic Transport Plan (STP) for Dhaka: * Two conditions must be fulfilled in order to solve the transportation problem of Dhaka City. They are:

a) The growth of population in Dhaka City must be controlled

b) Proper institution for integrated planning, development and management of land use and transportation must be formed

* STP has failed to formulate effective strategies to fulfil both these conditions

* Urban transportation planning is intricately and integrally related with urban land use planning. One cannot be separated from the other. Town planning without its transportation planning is never town planning at all. Under the present situation, RAJUK is an organization for town planning without the responsibility of transportation planning, and at the same time, the DTCB (Dhaka Transport Co-ordination Board) is an organization for transportation planning without the responsibility of town planning. The result is likely to be disastrous.

* Urban road networks not only serve the purpose of transportation but also serve many other purposes, e.g. they augment the drainage system, they act as embankment for flood protection polders (suggested in DMDP), they facilitate urban utility services. Hence, the priority and phasing plan for urban transportation network should depend on comprehensive and integrated urban planning. But, DTCB seems to be ignorant about this vital requirement.

* Comfortable maximum walking distance for pedestrians in urban area is one kilometre. Most of the walking trips to job in Dhaka City are not willing choice, rather those are compulsion due to economic condition of the pedestrians and also due to non-availability of cheap and convenient transportation. The conditions under which the pedestrians undertake walking trips are simply inhuman and torturous.

* Based on studies and research, the world-wide experience is that private autos are the greatest nuisance in creating traffic problems in urban areas. The increase in the facilities for private cars induces the increase in the number of private autos. Hence, the traffic congestion caused by private autos cannot be solved by increasing road space and parking space. Enforcement of control and regulation on private autos is must to solve urban transportation problem.

* Planning must be based on logic. The logic is derived from facts. The facts are ascertained from surveys, investigations, studies and research. Planning which do not have logic behind it cannot be termed as planning; that is merely an ad-hoc decision. The problems which require very careful investigation and diagnosis through surveys, studies, analysis and research, are never the job of a co-ordination body (DTCB).

* Facts must be recognized and accepted. Without acceptance of the facts, the logic of the plan is lost. Without the logic, the plan is nothing but stupidity.

Source: The Daily Star

Asian stocks mostly down

September 29, 2008

Asian stocks closed mainly down Thursday on traders’ concerns about a US bailout for the finance sector, after President George W. Bush gave a dire warning for the US economy if the plan is not agreed.

Bush told the nation “our entire economy is in danger” as he sought backing for a 700-billion-dollar Wall Street rescue package which has been held up in Congress.

Without quick action, the country could slip into a “long and painful recession”, he said.

In Tokyo, the Nikkei closed down 0.9 percent and Singapore eased 1.35 percent, while Taipei was more than one percent off at the end.

Hong Kong’s Hang Seng had traded in positive territory most of the day before slipping to close 0.2 percent down on the US jitters.

The markets were taking their lead from Wall Street, which closed Wednesday 0.27 percent lower as traders focused for a second day on Congressional opposition to the emergency package.

Shanghai, which was 3.6 percent higher on news that the government planned to introduce new trading rules. Seoul posted a 0.38 percent gain.

Bush told the nation: “Without immediate action by Congress, America could slip into a financial panic.”

Global markets, reeling from months of uncertainty following the US subprime mortgage crisis, went into a tailspin last week after the collapse of US investment bank Lehman Brothers and the government rescue of AIG.

Investors, still edgy at the White House plan, moved into safer territory and bought oil stocks, sending crude prices higher, dealers said.

In afternoon trade New York’s main contract, light sweet crude for November delivery, rose 54 cents to 106.27 dollars a barrel.

Brent North Sea crude for November delivery was 30 cents higher at 102.75 dollars.

Traders in Japan also reacted after the country posted its first trade deficit in seven months, the latest set of data showing the country is in danger of slipping into recession.

The Bank of Japan also sought to keep liquidity in the market by pumping one trillion yen into it, the seventh straight business day it has resorted to an injection of cash.

Hong Kong had rallied earlier and Bank of East Asia climbed 3.4 percent after assurances to customers that there was no base to rumours it was heavily exposed to assets linked to Lehman.

Source: The Daily Star

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