SBI

SBI venture arm to roll out funds targeting SMEs and affordable housing

Navojit Dastidar November 20, 2018

SBI Capital Ventures Ltd (SVL), an alternative asset management arm of State Bank of India group, will float two funds – Small and Medium Enterprises (Rs 4 billion) and Affordable Housing Fund (Rs 3.5 billion). This is part of plans to expand the portfolio of funds under SBI Caps Ventures, a subsidiary of SBI Capital Markets Ltd. Both funds are targeting closure of fund in

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morgan stanley

China’s Golden Education raises Series C from Morgan Stanley, Hillhouse Capital

Hillhouse Capital and Morgan Stanley have reportedly led a RMB800-million

sikumis

Agritech startup Sikumis receives strategic investment from Metralog

Indonesian agritech startup Sikumis today announced that it has raised

Leathertech

Leathertech Bangladesh 2018 launches on Thursday

The sixth edition of a three-day Leathertech Bangladesh 2018 will

MTB

MTB launches UnionPay payment services

Mutual Trust Bank (MTB) yesterday joined hands with UnionPay International

smart-city-5g-600x380

Google forecasts Southeast Asia’s Digital economy to triple by 2025

With over 650 million cumulative populations, Southeast Asia’s Digital economy

News

SBI

SBI venture arm to roll out funds targeting SMEs and affordable housing

Navojit Dastidar Feature November 20, 2018

SBI Capital Ventures Ltd (SVL), an alternative asset management arm of State Bank of India group, will float two funds – Small and Medium Enterprises (Rs 4 billion) and Affordable Housing Fund (Rs 3.5 billion). This is part of plans to expand the portfolio of funds under SBI Caps Ventures, a subsidiary of SBI Capital Markets Ltd. Both funds are targeting closure of fund in

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morgan stanley

China’s Golden Education raises Series C from Morgan Stanley, Hillhouse Capital

Navojit Dastidar Feature November 20, 2018

Hillhouse Capital and Morgan Stanley have reportedly led a RMB800-million ($115 million) Series C funding round in Chinese professional training firm Golden Education. Yonghua Capital and Vision Knight Capital were also said to have participated in the investment. The news first appeared on Chinese newswire 36Kr. Requests for confirmation sent to Hillhouse Capital and Morgan Stanley have not elicited any

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sikumis

Agritech startup Sikumis receives strategic investment from Metralog

Navojit Dastidar Feature November 20, 2018

Indonesian agritech startup Sikumis today announced that it has raised follow-on undisclosed strategic investment from Telkom Group subsidiary Metralog. Metralog first invested in the company in July. The startup is currently developing a platform that integrates the various aspects of agriculture business, from P2P lending, financing, to online auction system.

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Leathertech

Leathertech Bangladesh 2018 launches on Thursday

Navojit Dastidar Feature November 20, 2018

The sixth edition of a three-day Leathertech Bangladesh 2018 will begin at International Convention City Bashundhara from November 22, aiming to bring global technology at the doorsteps of the local industry to catalyse growth and modernisation. ASK Trade & Exhibitions Pvt Ltd is organising the trade show. Concurrently, the second edition of the Bangladesh Leatherfootwear & Leathergoods International Sourcing Show

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MTB

MTB launches UnionPay payment services

Navojit Dastidar Feature November 20, 2018

Mutual Trust Bank (MTB) yesterday joined hands with UnionPay International to jointly launch debit and credit cards alongside QR code payment, e-wallet and digital card services for the first time in Bangladesh. The virtual services allow payments through mobile phones, taking away the need for physically carrying cards. MTB signed the relevant agreements with UnionPay International in Shanghai, China in

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smart-city-5g-600x380

Google forecasts Southeast Asia’s Digital economy to triple by 2025

Elvis Gomes Feature November 20, 2018

With over 650 million cumulative populations, Southeast Asia’s Digital economy is predicted to reach $240 billion by 2025 according to “e-Conomy SEA” report by Google. The report suggests that internet economy will grow by 44% this year from last year to $72 billion, which was only $19.1 billion in 2015. Online travel (30 billion) tops the chart in bringing in

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Whatsapp

WhatsApp could obliterate Snapchat by replicating evaporating messaging

Navojit Dastidar Feature November 19, 2018

WhatsApp already ruined Snapchat’s growth once. WhatsApp Status, its clone of Snapchat Stories, now has 450 million daily active users compared to Snapchat’s 188 million. That’s despite its 24-hour disappearing slideshows missing tons of features, including augmented reality selfie masks, animated GIFs, or personalized avatars like Bitmoji. A good-enough version of Stories conveniently baked into the messaging app beloved in the developing world

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Quantum computing

Quantum computing to govern our future, not AI

Navojit Dastidar Feature November 19, 2018

The word “quantum” gained currency in the late 20th century as a descriptor signifying something so significant, it defied the use of common adjectives. For example, a “quantum leap” is a dramatic advancement (also an early ’90’s television series starring Scott Bakula). Quantum computing is technology based on the principles of quantum theory, which explains the nature of energy and matter on

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Service export

Services exports clocks in over 50pc gain

Navojit Dastidar Feature November 19, 2018

Earnings from services export rose 55.52 percent to $1.4 billion between July and September because of higher performance of the transport sector, according to data from the Export Promotion Bureau (EPB) yesterday. The earnings are 12.76 percent higher than the target of $1.25 billion. Receipts from the transport service sector totalled $190.18 million in the current fiscal year’s first quarter.

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BTRC competition.cms

BTRC to forge competition through ranking telcos, ISPs

Navojit Dastidar Feature November 19, 2018

The Bangladesh Telecommunication Regulatory Commission will rank telecom and internet service providers based on different evaluation methods, including customer surveys, inspections, audits and test drives. The telecom regulator is also considering to publish the final evaluation report on its website or through the media to raise public awareness and create a competitive environment conducive for better service. The BTRC yesterday

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31960395_201650893957281_7295705407769542656_n

Top 10 technology oriented economies of the world

Elvis Gomes Feature November 19, 2018

Technology has been an inseparable tool in the process of development of any country. Adaptability to technology is one of the most influential and crucial indicator for a country to attract foreign investment. The world is enthusiastically ready for the next generation technology like artificial intelligence, green energy based technology etc. Therefore, the most flexible economy to adapt to this

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ICT

ICT acclamation for Tech trailblazers

Navojit Dastidar Feature November 18, 2018

The changes in technology have paved the way for production to quadruple in just a couple of years and people, especially the younger generation, have adopted ICT very fast, said Finance Minister AMA Muhith, speaking as the chief guest at the programme. This is why the government chose information and communication technology for spearheading the country’s development, he told the

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Chittagong Startup

Startup Talk Chattogram engages students and young entrepreneurs through talks

Navojit Dastidar Feature November 18, 2018

A programme focusing on startups has been held in Chittagong for young entrepreneurs and students under the banner of Startup Talk Chattogram. The event was held from 3:00pm on November 9, 2018, in Bangabandhu Hall of Chattogram Press Club in the city with a total of 300 participants. Speakers at the event discussed and provided insights on the different avenues

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travel startups

Travel startups on attention grabbing feat

Navojit Dastidar Feature November 18, 2018

The second wave of internet-era travel companies has captured the attention of venture capitalists. In the last five years, travel companies have raised more than $1 billion in venture capital funding. That includes short-term rental startups, travel and tourism apps, marketplaces for “experiences” and other travel or hospitality tech platforms. Airbnb, a $38 billion company and an anomaly in the category, has

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visa

BillDesk raises capital from Visa

Navojit Dastidar Feature November 18, 2018

Payments processor Visa Inc said on Friday it is taking a minority stake in Indian payment gateway BillDesk, as it seeks to grab a bigger slice of one of the fastest growing digital payments markets in the world. Both companies did not disclose the terms of the deal, but the local media had reported a few months ago that Visa

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GEW

Global Entrepreneurship Week 2018

Navojit Dastidar Feature November 17, 2018

Global Entrepreneurship Week (GEW) is powered by Kauffman Foundation, the initiative is supported by dozens of world leaders and a network of more than 15,000 partner organizations. During this one week each November, thousands of events and competitions in 170 countries inspire millions to engage in entrepreneurial activities while connecting them to potential collaborators, mentors and even investors. The Bangladeshi leg of

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Kucoin

SG-based crypto platform KuCoin secures $20M funding from IDG, Matrix Partners

Navojit Dastidar Feature November 15, 2018

Singapore-based cryptocurrency platform KuCoin on Wednesday announced that it has secured $20 million in equity funding from IDG Capital, Matrix Partners and Neo Global Capital. The financing will help KuCoin expand its global presence, bolster its research capabilities and train staff. “The combined forces of IDG Capital, Matrix Partners, and Neo Global Capital will help KuCoin grow substantially, expand understanding

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uber

New businesses take toll on Uber’s earnings

Navojit Dastidar Feature November 15, 2018

Uber, which is expected to go public sometime next year, just released its Q3 2018 financial results. Uber’s net losses increased 32 percent quarter over quarter to $939 million on a pro forma basis, though Uber expected these losses as it continues to invest in future growth areas. On an earnings before interest, taxes, depreciation and amortization basis (EBIDTA), Uber’s losses

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fdi

FDI inching up

Navojit Dastidar Feature November 15, 2018

Foreign direct investment in Bangladesh rose only 5.11 percent in fiscal 2017-18 from a year earlier the progress being slow because of inadequate infrastructure and poor ranking in the World Bank’s Ease of Doing Business index. Bangladesh ranked 176 out of 190 countries in the World Bank’s Ease of Doing Business index this year, the lowest ranking for a South

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Group Photo

Startup Dhaka Launches Its Second Film

Nahid Farzana Feature November 14, 2018

Startup Dhaka premiered its second documentary, Startup Dhaka Part 2, at ICT Tower on 11th November to an audience that included startup founders, startup community members, and sponsors. Honorable Kazi M. Aminul Islam, Executive Chairman of Bangladesh Investment Development Authority (BIDA), Prime Minister’s Office was present at the event as the chief guest. IDLC Finance was the presenting sponsor, with supporting

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ucommune

WeWork’s rival Ucommune raises $200M to chase international growth

Navojit Dastidar Feature November 14, 2018

China’s Ucommune, the country’s largest rival to WeWork, has been on a busy acquisition spree to build out its domestic business and now it is looking at overseas opportunities after it closed a $200 million Series D funding round. The new round was led by Hong Kong-based All-Stars Investment with participation from Chinese investment bank CEC Capital and other investors. Ucommune said in a statement that the

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rules and regulations

Rule to curb monopoly may hurt GP

Navojit Dastidar Feature November 14, 2018

Grameenphone’s indomitable crusade for more market share is likely to be ground to a halt as the government is set to activate a regulation that will clip monopolistic tendencies. Called the Significant Market Power (SMP), the regulation imposes restrictions on an operator once it corners 40 percent of the subscribers, revenues and spectrum. As of September, Grameenphone has 45.83 percent

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105342061-1532058299163co-founders-shopup.600x400

Shopup raises $1.62 million in seed funding

Elvis Gomes Feature November 13, 2018

Shopup, a Bangladesh based fintech startup has been able to raise US $1.62 million from Omidyar Network including angel investors from Facebook, Google, Amazon, Grab and global banks. This funding will be used for developing credit algorithm technology, partnering with ecommerce platforms, logistics support companies and offline collaborators. It is expected that this funding will help them fasten acquisition to

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female entre

BIDS says women entrepreneurs now face less social obstacles

Navojit Dastidar Feature November 12, 2018

Social barriers and a lack of access to finance, the two big obstacles for women to become entrepreneurs, have eased somewhat in the last 8-9 years, a recent study found. Social norms and attitude towards women becoming entrepreneurs have improved between 2009 and 2017, according to the study titled ‘Women Entrepreneurs in SME: Bangladesh Perspective 2017’. Social barriers and a

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Singles day

Alibaba rakes in $10b in sales in the first hour of Singles’ Day

Navojit Dastidar Feature November 12, 2018

Chinese e-commerce behemoth Alibaba Group Holding Ltd settled roughly 69 billion yuan (US$9.92 billion) in the first hour of its annual Singles’ Day today, up roughly 21 per cent from last year’s early haul of 57 billion yuan. Singles’ Day is the world’s biggest online sales event and last year netted Alibaba 168 billion yuan (US$24.15 billion) in total sales.

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impact investing

Impact investing: A multitrillion-dollar market in the making

Navojit Dastidar Feature November 12, 2018

Impact investing has been gaining traction over the last decade, as investors, consumers, and—to an extent—policymakers come to recognise that new ideas are needed in order to address some of the largest societal and environmental challenges facing humankind. However, as is often the case with new ideas, impact investing continues to face big challenges and misconceptions. How to actually define

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health tech

Indian health-tech startups bag all-time high funding of $510m in 2018

Navojit Dastidar Feature November 12, 2018

Venture capital investment in home-grown Indian health-tech startups in 2018 is at an all-time high with continuing investor interest, data from Tracxn Technologies shows. So far, $510 million has been invested across 80 health-tech startups, led by medicine ordering website PharmEasy, which raised $115 million across three rounds this year. Other significant funding rounds include fitness startup Curefit raising $100

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E wallet

ONE Bank launches OK Wallet service

Navojit Dastidar Feature November 11, 2018

One Bank Limited (OBL) on Tuesday launched OK wallet service to make mobile financial service proposition fast, more secure and more convenient for the bank’s core banking customers and mobile banking customers. One Bank chairman Sayeed H Chowdhury formally inaugurated the OK wallet service at a ceremony held at OBL corporate headquarters in Dhaka, said a press release. Bank’s vice-chairman

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on-demand-services-app

Alibaba’s on demand unit rockets to $30B valuation

Navojit Dastidar Feature November 11, 2018

Alibaba Group’s newly formed on-demand online services unit has rocketed in value to as much as $30 billion after raising $4 billion in fresh funds. Alibaba combined the operation of food delivery service Ele.me and online restaurant guide business Koubei under a single management team and holding vehicle in October. It announced a fundraising plan for the vehicle in August.

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bike sharing

Chinese bike-sharing platform Hellobike to land investment from SoftBank

Navojit Dastidar Feature November 11, 2018

SoftBank Group Corp is looking to invest in Chinese bike-sharing start-up Hellobike, people with knowledge of the matter said, as the Japanese conglomerate bets on a market that has struggled with oversupply and tightening regulations. SoftBank will be joined by Chinese private equity firm Primavera Capital among others in a funding round, the sources told Reuters, with one of them

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travel activities App

Alibaba and Line invest in Travel activities startup KKday

Navojit Dastidar Feature November 11, 2018

Taiwan’s KKday, a startup in the increasingly competitive travel activities space, has pulled in an undisclosed funding round that adds two strategic investors to its business: Chinese e-commerce firm Alibaba and Japanese chat app company Line. KKday was founded in 2015 to help people who travel overseas find and book activities, ranging from tours to tourist attractions, transportation, museums and more. The company said

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Mary meeker

Mary Meeker leaves Kleiner Perkins to launch $1.25 Billion fund

Navojit Dastidar Feature November 11, 2018

Mary Meeker, who revealed in September plans to leave Kleiner Perkins after an eight-year run with the venture firm, is reportedly looking to raise up to $1.25 billion for her debut fund. As Meeker told Recode a couple of months ago, she is forming her own late-stage investing firm with three of her KP colleagues, including Mood Rowghani, who joined the firm as

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Fiber-optic-cable

Reasons for not getting internet service at a cheaper rate

Elvis Gomes Feature November 11, 2018

Internet has changed the lifestyle of people of Bangladesh. Yet, there are millions of people who are not connected with the internet. One of the reasons for not being able to be connected through internet is the unreasonable pricing of internet packages. There are several factors working behind this unbearable impediment. The reasons are described as follows, The number of

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Fn1Kowd

What is the explanation for this growing number of customer complaints of ride sharing services?

Elvis Gomes Feature November 11, 2018

Accountability has always been a BIG question for ride sharing companies. Many of the consumers feel they have been wronged by the service providers and the increasing number of complaints is a testament to that. The biggest explanation to this phenomenon can be the lack of enforcement of guidelines established nine months ago. Ride sharing companies have not registered with

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Tinklab

Tink Labs is raising $300M

Navojit Dastidar Feature November 8, 2018

Tink Labs, a Hong Kong startup that develops smartphones that hotels provide to their guests for free, is raising a new round of up to $300 million to further its international footprint. The startup is in the final stages of completing the deal that could give its six-year-old business a post-money valuation of at least $1.5 billion. It isn’t clear

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Presslogic

PressLogic raises $10M from popular Chinese selfie app Meitu

Navojit Dastidar Feature November 8, 2018

PressLogic, a Hong Kong-based social media content and data analytics startup, announced today that it has raised a $10 million Series A+ round from Meitu, developer of the popular Chinese selfie app. PressLogic will use the funds to launch its new lifestyle brand GirlStyle and enter e-commerce with its proprietary algorithms, which predict what topics will trend on social media

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Market abuse

CCI rejects claim over Flipkart and Amazon abusing market position in India

Navojit Dastidar Feature November 8, 2018

A case brought by the All India Online Vendors Association (AIOVA), which represents more than 3,500 online sellers, complained that Flipkart was using its dominant position to favour select sellers – an argument the CCI rejected. Amazon and its rival in India, the Walmart-owned Flipkart, did not break regulations through their selection of merchants and brands, the Competition Commission of

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remittance

Rise in remittance inflow in October

Navojit Dastidar Feature November 8, 2018

The country’s remittance inflow marked a rise in October after its decline in September this year. As per the statistics provided by the Bangladesh Bank, the country received $1.239 billion in remittance from expatriate Bangladeshis living in various countries while it had received $1.138 in September. In August, the remittance earning was $1.411 billion. The central bank data shows that

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pathao legal notice

Pathao given legal notice over fare

Navojit Dastidar Feature November 8, 2018

A legal notice has been served to online ride-sharing service Pathao on charges of irregularities. Supreme Court Lawyer Tanjim Al Islam on behalf of Afzal Hossain, a resident of West Sheurapara of the city, sent the notice to Pathao Limited, Pathao chief executive officer and chief technology officer on Wednesday, reports UNB. According to the notice, when Afzal Hossain wanted

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massmutual_ventures_fund

MassMutual Ventures launches US$50M Southeast Asia focused fund

Navojit Dastidar Feature November 7, 2018

Boston-based venture capital fund MassMutual Ventures today announced the establishment of its US$50 million Southeast Asia-focused fund MassMutual Ventures Southeast Asia (SEA). “We made the decision just about a year ago to evaluate expanding into SEA and establishing a dedicated fund here. The primary rationale is just the tremendous opportunity that we see in the last several years, of entrepreneurs forming businesses

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