Bangla to stakes in Dhaka Stock Exchange to China; rejects India's offer

Agencies
February 21, 2018

Dhaka, Feb 21: Bangladesh has said it will sell 25 percent stakes in the Dhaka Stock Exchange (DSE) to a Chinese consortium, rejecting a rival bid from India's National Stock Exchange, Nasdaq of the US and others.

Bangladesh's premier bourse directors had decided to accept the Chinese consortium's proposal on February 10 as it looked acceptable to them considering financial and technological aspects, bdnews24 reported.

They gave the final nod to the proposal by the consortium of Shenzhen Stock Exchange and Shanghai Stock Exchange at a meeting of the board last evening, the DSE Managing Director KAM Majedur Rahman told reporters here.

They would "soon" send the proposal to the regulators, the Securities and Exchange Commission or SEC, for endorsement, he added.

Shanghai and Shenzhen stock exchanges are among the top bourses in the world boasting USD 3.5 trillion and USD 2.2 trillion market capital, respectively.

The market capital of the DSE is over USD 51.42 billion.

Another consortium of India's National Stock Exchange, Frontier Bangladesh and Nasdaq stock market of the US took part in the bidding to become the DSE's partners.

A DSE official earlier said that the Mumbai-based National Stock Exchange had offered 15 taka (USD 0.18) per share to buy 25.1 percent shares of the DSE.

Officials said the Chinese consortium has proposed buying 25 percent stakes into the DSE for Tk 9.9 billion (USD 122 million) at Tk 22 per share. In its proposal, the consortium mentioned it will spend over Tk 3 billion (USD 37 million) to give the DSE a technological upgrade.

The DSE is trying to lure foreign investment as part of its demutualisation process to get technical and technological support from the strategic partners to further modernise the exchange.

According to the 2013 demutualisation scheme, 25 percent of the 1.8 billion shares of the DSE will be sold to strategic partners, 35 percent to small investors while 40 percent will be with the Trading Right Entitlement Certificate or TREC holders.

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News Network
January 7,2020

Mumbai, Jan 7: Against the backdrop of the attack on JNU students, the Shiv Sena on Tuesday hit out at Prime Minister Narendra Modi and Union Home Minister Amit Shah, alleging that what they wanted was happening, and said such "brutal politics" was never seen before in the country.

An editorial in Shiv Sena mouthpiece 'Saamana' further alleged that the BJP wanted to see "Hindu-Muslim riots" over the Citizenship Amendment Act, but that did not happen.

Since the BJP has been cornered over the issue of CAA, several things are happening out of "revenge", it said.

Comparing the attack on Jawaharlal Nehru University (JNU) students to the 26/11 Mumbai terror strikes, the Shiv Sena said: "divisive politics" was dangerous for the country.

It said the Union Home Ministry's decision to file cases against "unknown" attackers at JNU was laughable. "Those who entered JNU with masks are not unknown," it claimed.

On Sunday, a mob of masked young people stormed the Jawaharlal Nehru University (JNU) campus in south Delhi and targeted students in three hostels, unleashing mayhem with sticks, stones and iron rods, hitting inmates and breaking windows, furniture and personal belongings.

Nearly 34 people were injured in the violence.

"The fallout of JNU attack is being seen elsewhere in the country...what Modi and Shah want is happening. The country is in danger. Divisive politics is dangerous for the country," the Uddhav Thackeray-led party said.

Terrorists who attacked Mumbai on November 26, 2008, were also masked and the same was seen at JNU. Such elements need to be exposed, it said.

"Allowing blood stains in universities, colleges and beating up of students and indulging in politics over the burning situation...such brutal politics was never seen before," the Marathi publication said while terming the attack on JNU students as a "blot" on the law and order situation.

Lashing out at Amit Shah, the Sena said he his in Delhi and busy distributing official pamphlets door-to-door to promote the Citizenship Amendment Act.

There is "confusion and unrest" in the country over the new citizenship law, it pointed out.

"The BJP wanted to see Hindu-Muslim riots over the issue, but that did not happen. The nationwide protests are not being done by Muslims alone. Hindus will also be affected due to the new Act," the Shiv Sena said.

It said the BJP has been cornered over the CAA issue.

Since the prevailing situation is "BJP versus the rest", hence "out of revenge", several things are happening, the Marathi daily said, adding that "there is room for doubt if the JNU attack was part of the revenge."

The BJP has condemned the violence and said universities should stay away from politics, it noted.

"Who brought violence and politics in universities in the last five years? Who is implementing the policy of destroying those who don't agree with your ideology by use of power?" it asked.

Without taking any name, the Sena said those who call students opposing the CAA as anti-nationals, are themselves anti-national.

"When Amit Shah accuses Congress leaders Rahul Gandhi and Priyanka Gandhi of inciting violence, he admits that the Gandhi siblings have that much power to create mass awareness against a law brought in by the Centre and bring people to streets," the Sena said.

One cannot say if the Gandhi siblings incited violence, but one thing is sure that the Union Home Minister and his party are forced to distribute pamphlets to "clarify" on the new citizenship law, it said in sarcastic comments.

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News Network
July 11,2020

Jul 11: UK’s Prince Charles, at the ongoing India Global week 2020, has praised India’s sustainable way of life, as he emphasised on sustainable development amid the ongoing coronavirus pandemic. Addressing the summit through a video link from London, Prince Charles said, “The country’s (India’s) diversity and resilience is a personal inspiration for him and much to teach all,” reported the All India Radio.

The three-day summit is getting held on a virtual platform from July 9 to July 11 due to the ongoing COVID-19 pandemic. Around 75 sessions on subjects such as geopolitics, business, emerging technologies, banking, finance, pharmaceuticals, defence and security, and arts and culture are getting held. The summit is expected to bring together over 250 speakers and more than 5,000 participants for incisive discussion and lively debate over the three days.

During his address, Prince Charles said India’s philosophies and values have emphasised a sustainable way of life and a harmonious relationship between humanity and nature, the AIR report said.

He also informed that he spoke to Prime Minister Narendra Modi about the importance of sustainable living.

In his address, he also spoke about the ancient yogic concept of ‘Aparigraha’. “It’s the time when the world learnt this ancient wisdom from India as it seeks revival amid the pandemic, he said as reported by the AIR news.

As the countries across the globe are reeling under the corornavirus pandemic, he emphasised on sustainable development to overcome the crisis. He said, “We have an unparalleled opportunity to put people and planet at the heart of global value creation and move to sustainable markets for long-term value, balancing natural, social, and physical capital.”

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Agencies
March 10,2020

Bhopal, Mar 10: The number of MLAs who have resigned from the Congress in Madhya Pradesh climbed to 20 on Tuesday afternoon with another legislator quitting the ruling party, sources said.

While 19 MLAs, most of them believed to be loyal to expelled party leader Jyotiraditya Scindia, have sent their resignation letters via e-mail to Raj Bhavan, Bisahulal Singh submitted his resignation letter as an MLA to the Assembly speaker.

"We have received resignations of 19 MLAs through e-mails with attachments," a Raj Bhawan official told PTI.

Sources in Congress produced a copy of Bisahulal Singh's resignation letter which he submitted to the speaker.

Former chief minister and senior BJP leader later announced that Singh (65) has joined the BJP.

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