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ADB expects Asia to grow 6% this year

Manila based institution, Asian Development Bank released an update of Asian Development Outlook on Wednesday which clearly stated that Asia will grow 6% this year and 5.8% next year. According to the report, China is expected to grow 6.6% and 6.3% in 2018,2019 where India is expected to grow 7.3% and 7.6% in the same period. The reasons for growth are
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Bangladesh – The 3rd highest remittance receiving country in South Asia

Bangladesh becomes the 3rd highest remittance receiving country in South Asia, 9th in the world. It has seen a 17.9% growth in remittance earning in 2018 where the rate saw declination of 11.5% in 2016. The leader in remittance earning is India ($79.5 million), followed by China ($67 million) and Mexico & Philippines ($34 million). World Bank reports that the developing
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Bangladesh – The most Optimistic Market

Bangladesh remains the most optimistic market according to the HSBC Navigator Survey on 34 countries. The countries included were the US, the UK, Canada, Brazil, Mexico, France, Germany, Italy, Spain, Russia, Switzerland, Turkey, Australia, China, Malaysia, Singapore and Vietnam. The survey, conducted by Kantar TNS, takes into account the responses of over 8650 businesses from small to mid to large
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Vedantu

Online tutoring platform Vedantu raises $11m led by Omidyar Network

Vedantu, an online tutoring platform, has raised $11 million in a Series B funding round led by Omidyar Network, the company’s co-founder, Vamsi Krishna, said in an interview. The funds will be used for technology expansion and deeper penetration in tier 2 and 3 cities. Accel Partners, an existing investor, also participated in the round. Vedantu, which means ‘knowledge network,’ is
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SBI

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

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 the
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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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health tech

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

Bengaluru is Techstars’ top pick for first city-based accelerator in India

Techstars, a global startup incubator network has chosen Bengaluru to be India’s first city-based accelerator programme. It also plans to launch its ecosystem development programmes to other Indian cities which are lagging behind. Techstars plans to invest $120,000 from its $5 million India corpus into Techstars Bangalore Accelerator, which is set to run from end-January to end-April. Out of over 1,000
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Huawei invests $23M to support incubating hub in Thailand and India

Huawei had announced the opening of its OpenLab in India with the focus on supporting Indian government rolls out its Smart Cities program and an overall digitization in the country using Huawei’s ICT capabilities. As reported by TechObserver.in, Huawei’s new center will function as an incubating hub for Huawei’s India and global market. A total of US$23 million is going
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cleartax

India’s fintech startup ClearTax raises $50M Series B

ClearTax, a seven-year-old, Bengaluru, India-based fintech startup focused around tax preparation, e-filing, accounting and investment planning, has raised $50 million in Series B funding led by the Hong Kong-based investment firm Composite Capital.The company is looking to use the fresh capital to further accelerate its growth and expand the suite of products and services on its platform.
Archit Gupta, Founder and
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