MTB launches UnionPay payment services

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

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 revenue,
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WhatsApp could obliterate Snapchat by replicating evaporating messaging

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

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 the
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Service export

Services exports clocks in over 50pc gain

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. Of
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BTRC competition.cms

BTRC to forge competition through ranking telcos, ISPs

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 issued
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Top 10 technology oriented economies of the world

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 acclamation for Tech trailblazers

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

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 of entrepreneurship.
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travel startups

Travel startups on attention grabbing feat

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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Global Entrepreneurship Week 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. Read more

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

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 and
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New businesses take toll on Uber’s earnings

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 were
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FDI inching up

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 Asian
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Group Photo

Startup Dhaka Launches Its Second Film

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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