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B’desh Celebrates 50th Victory Day

The people of Bangladesh on Wednesday celebrated the 50th Victory Day. On December 16, 1971, Lt. Gen Amir Abdullah Khan Niazi, the Chief Martial Law Administrator of East Pakistan and Commander of Pakistan Army forces located in East Pakistan had signed the Instrument of Surrender the led to the formation of Bangladesh.

Niazi had signed the Instrument and Surrender in the presence of Jagjit Singh Aurora, who was representing the Indian and Bangladesh Forces in Dhaka.

The country was liberated from the Pakistani occupation on the day after a nine-month-long bloodstained War of Liberation in 1971.

At the time of surrender only a few countries had provided diplomatic recognition to the new nation. Over 93,000 Pakistani troops surrendered to the Indian forces and Bangladesh Liberation forces, making it the largest surrender since World War II.

Bangladesh was born as an independent country under the leadership of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman at the cost of supreme sacrifice of three million people and the honour of nearly half a million women.

Though the pandemic Covid-19 has almost paralysed the whole world barring the people from attending any public gathering in person, the celebration of the Victory Day got a different dimension.

The day is set to be celebrated as Mujib Borsho, on the occasion of the birth centenary of Bangabandhu from March 2020-March 2021, just ahead of the country’s golden jubilee year of Independence to be celebrated in 2021.

Sheikh Hasina.

On behalf of President M. Abdul Hamid and Prime Minister Sheikh Hasina their representatives laid the wreath at the altar of the National Memorial around 6.30 a.m.

Both of them paid rich tributes to the martyrs of the Liberation War by placing wreaths at the National Memorial in Savar, on the outskirts of Dhaka, marking the 50th Victory Day.

After placing the wreath, the representatives stood there in solemn silence for a while as a mark of profound respect to the memories of the martyrs of the Great War of Liberation in 1971.

Bangladesh’s first government was sworn in in front of local and foreign journalists officially and it began its duties. With the Declaration of Independence on March 6, the country was officially declared as an independent sovereign state.

Bangladesh sought admission to the UN with most voting in its favour, but China vetoed this as Pakistan was its key ally.

The US, also a key ally of Pakistan, was one of the last nations to accord Bangladesh recognition.

To ensure a smooth transition, in 1972 the Simla Agreement was signed between India and Pakistan. The treaty ensured that Pakistan recognised the independence of Bangladesh in exchange for the return of the Pakistani PoWs.

India treated all the PoWs in strict accordance with the Geneva Convention, rule 1925 released more than 93,000 Pakistani PoWs in five months. Further, as a gesture of goodwill, nearly 200 soldiers who were sought for war crimes by Bengalis were also pardoned by India.

Bangladesh government has organised elaborate programs to celebrate the day at the national level, maintaining the health guidelines in face of the global pandemic Covid-19.

The programs include a 31-gun salute, placing of wreaths at the monuments to pay homage to martyrs, hoisting of the national flags atop all government, semi-government and private offices as well as offices of autonomous bodies across the country, decorating city streets with miniature national flags and colourful festoons, and illumination of important buildings and establishments, roads and street islands at night.

Improved diets will be served to inmates of jails, hospitals, orphanages, and vagrant homes across the country.

Also Read: India, Bangladesh seek to strengthen bilateral ties

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Business Economy India News

PHD Chamber Calls For Infra Push In 2021-22 Budget

Industry body PHD Chamber of Commerce and Industry in its pre-Budget recommendations for the Union Budget 2021-22 said that growth of infrastructure is the key ingredient to realise the vision of ‘Atmanirbhar Bharat’. It also added that increased spending on infrastructure will rejuvenate the aggregate demand.

According to Sanjay Aggarwal, President, PHD Chamber of Commerce and Industry, at this juncture, the Centre should consider raising investment funding for the National Infrastructure Pipeline (NIP) through borrowings from overseas markets by issuance of overseas bonds through an SPV that could act as a mega Development Financial Institution (DFI).

Besides, he said that DFI could initially finance public sector infrastructure investments, and, as the economy picks up steam, could also finance the private sector infrastructure projects.

In the past, governments around the world have often used DFIs to fund industrial and infrastructure investments.

Financial as well as technical support extended by the DFI would also help in efficient and timely infrastructural development in the country, Aggarwal said.

Additionally, he said strengthening the MSMEs sector must also be on priority in the forthcoming budget.

The value chains of MSMEs should be enhanced, making them more structurally competent to add to their efficiency, increased share in manufacturing sector, employment generation and the country’s overall economic growth, he said.

Also Read: Asian Lite Daily Digital UK – December 16, 2020 – Boris Due In India…

Also Read: India’s Retail Inflation Lowers In November: Report

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-Top News UK News

Asian Lite Daily Digital UK – December 16, 2020 – Boris Due In India to Boost Post-Brexit Biz Ties

Boris Due In India to Boost Post-Brexit Biz Ties; London Seeks Better Ties With Delhi; Electoral College Puts Biden On Pedal; ‘Critical 3-week effort’ fails in Japan as cases surge – All in Asian Lite Daily Digital – please click here to read.

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-Top News Arab News

Asian Lite Daily Digital Dubai – December 16, 2020 – Vote For NRIs Back on Agenda

Vote For NRIs Back on Agenda; Kuwait PM Hopeful About End of Gulf Crisis; Electoral College Makes It Official; ‘Critical 3-week effort’ fails in Japan as cases surge; Hamas calls for united resistance against Israel – all in Asian Lite Daily Daily Dubai – please click here to read.

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-Top News USA

Americans Urged To Stay Home During Biden Inauguration

US President-elect Joe Biden and Vice President-elect Kamala Harris will be sworn into office on the steps of the United States Capitol on January 20, 2021, just like other American leaders throughout history but almost every other detail of Inauguration Day will be transformed by Covid-19 public health protocols.

In fact, Biden’s inauguration team is urging Americans to stay home and watch history unfold on their television or digital screens. Pointing to the “unprecedented” public health crisis, the inaugural committee plans for an extremely small “footprint” of the in-person event that “honors and resembles sacred American traditions” and also keeps Americans safe.

“The ceremony’s footprint will be extremely limited, and the parade that follows will be reimagined,” the Presidential inaugural committee said in a statement. At this time, it is not clear if outgoing president Donald Trump will participate.

“The 59th Presidential Inauguration will be a historic and exciting event that showcases the strength and diversity of our nation — and one that every American can enjoy from their home,” the Biden inaugural committee said.

US President-Elect Joe Biden and Vice President-Elect Kamala Harris.

Previewing the blueprint for a reimagined event, the team said plans are on to “honor the inaugural traditions Americans have always known”: An outdoor swearing-in ceremony, a “reimagined” parade and “virtual celebrations” feature in the bucket list.

After the swearing-in ceremony, Biden will deliver an inaugural address that “lays out his vision to beat the virus, build back better, and bring the country together.”

Meanwhile, Inaugural Day merchandise – tees, mugs, socks, masks, coasters and blankets – have gone on sale on the official site.

Also Read: Electoral College Affirms Biden, Harris Victory

Also Read: Trump to skip Biden’s inauguration

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-Top News Arab News

Kuwait PM Hopeful About End of Gulf Crisis

Kuwaiti Prime Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah on Tuesday expressed optimism over the end of the Gulf crisis and restoring relations among conflicting parties, state-media reported.

At the inauguration of the 16th Legislative Term of the National Assembly (Parliament), the Prime Minister said that Kuwait will use all its resources to reach a positive conclusion to the Gulf crisis to bring relations back to normal, reports Xinhua news agency.

The Kuwaiti government will continue its firm stance on a foreign policy based on respecting the sovereignty and independence of other countries, and not interfering with matters of internal affairs, he noted.

As to Gulf Cooperation Council (GCC), Sheikh Sabah Khaled said that Kuwait believes in the importance of the region’s security, indicating that it is a common responsibility shared by all member states.

Kuwaiti Prime Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah

On December 4, Kuwait’s Foreign Minister Sheikh Ahmad Nasser Al-Mohammad Al-Sabah said that fruitful talks were held recently to achieve reconciliation and support Gulf and Arab solidarity and stability.

Saudi Arabia, the United Arab Emirates, Bahrain, and Egypt have imposed a diplomatic and economic blockade on Qatar since June 2017.

The four countries allege that the gas-rich Gulf nation supports terrorism and interferes in their domestic affairs.

They have been asking for a list of demands which Qatar has to implement in order to revive ties.

Qatar has repeatedly denied the charges, calling it “unjustified” and “baseless”.

It has also refused the demands, citing them as interference in its sovereignty.

Also Read: Kuwait PM hopes for end to Gulf crisis

Also Read: Kuwait’s Emir names new PM

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Economy India News

India’s Retail Inflation Lowers In November: Report

Cheaper food prices lowered India’s sequential retail price inflation in November.

Sequentially, the Consumer Price Index (CPI), which gauges the retail price inflation, rose at a slower rate of 6.93 per cent in November from 7.61 per cent reported in October.

As per the data furnished by the National Statistical Office (NSO), CPI Urban rose to 6.73 per cent in November from 7.33 per cent in October, while CPI Rural increased to 7.20 per cent last month from 7.75 per cent in October.

The Consumer Food Price Index, increased at a slower rate of 9.43 per cent in November from 11 per cent in October.

The CFPI readings measure the changes in retail prices of food products.

On a YoY inflation rate, prices of vegetables and pulses and products jumped by 15.63 per cent and 17.91 per cent, respectively, in November.

“The headline CPI inflation for November 2020 printed appreciably lower than our expectations, benefiting from stable vegetable prices at the retail level,” said Aditi Nayar, Principal Economist, ICRA.

Sunil Kumar Sinha, Principal Economist, India Ratings and Research, said: “Retail inflation at 6.93 per cent is still outside the comfort zone of RBI. However, core inflation (non-food and non-energy) and core-core inflation (non-food, non-energy and transport & communication) are broadly stable in the range of 5-5.79 per cent and 4.72 per cent and 4.95 per cent respectively since May 2020.”

Also Read: Facebook To Open Up Opportunities For India’s SMBs

Also Read: Interups Inc, Kanti Commercials Submit EoIs For Air India

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Business Economy India News Tech Lite

Facebook To Open Up Opportunities For India’s SMBs

Facebook on Tuesday said that it is committed to help India quickly recover economically and socially in 2021 from the pandemic-hit year, by deepening support for small businesses and test and roll its new features from the country to the rest of the world.

The social networking platform said the ‘Nayi Shuruaat’ campaign launched during its ‘Fuel for India’ event is an ode to the resilience of small businesses amid crisis.

Facebook said it will continue to work closely with key partners to build a stronger ecosystem for small business growth in the country by investing in skilling programmes such as Boost with Facebook, entering in key partnerships such as with venture capital funds for the VC Brand Incubator program, and by giving people new ways to support small businesses such as the Instagram Food Stickers.

“India’s building local capabilities and tech capacity to power innovative new business models and provide the citizens access to digital financial inclusion,” said Facebook CEO Mark Zuckerberg via a virtual address during the event.

Facebook. (File Photo: IANS)

“So, decisions that are made here shape the global discussion about how technology can drive more economic opportunity and better outcomes for people,” he added.

In order to support small businesses move online seamlessly, Facebook recently reached out to 9 million small businesses across India with a local SMB Guide available in both Hindi and English.

The largest communities for Facebook and WhatsApp are in India and Instagram is getting there.

“This makes India a key market to test and roll our new features from here. From the launch of Reels on Instagram, to Watch on Facebook and Payments on WhatsApp, India is playing a crucial role in the way products are being designed for the future,” the company stressed.

There are 15 million WhatsApp Business app users in India.

The social network said it is partnering and investing in India’s digital ecosystem as an opportunity to create long-term impact in areas that are relevant for the country.

Facebook. (File Photo: IANS)

“These include equity investments in Meesho — focused on social commerce and women entrepreneurship and Unacademy — focused on education,” the company said.

“In collaboration with Jio Platforms, we want to further accelerate India’s digital transformation and work to open up new opportunities for people and businesses around the country,” it added.

Also Read: Majority of SMBs continue to report low sales: Facebook

Also Read: South Korea fines Facebook for sharing private information

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Business Economy India News

Interups Inc, Kanti Commercials Submit EoIs For Air India

Backed-up by strategic NRI investors from US and Europe, New York-based Interups Inc on Monday submitted a joint EoI with Air India employees for government’s stake in national carrier Air India.

According to Interups Inc Chairman Laxmi Prasad : “We plan to allocate 51 per cent of the stake to employees, while rest 49 per cent will be kept with us. We have a number of US and Europe based strategic NRI investors.”

“If successful in acquiring the stake, we plan to off-load infrastructure assets of the airlines to an ‘InvITs’, while operational assets will be kept with the company. We foresee a lean management styled company.”

As per the plans, airport slots, routes, facilities like ground handling, training and buildings will be placed with the ‘InvITs’.

A type of investment instrument — InvITs — is an infrastructure investment trust which are registered with Sebi.

Presently, Interups Inc handles retirement asset accounts owned by US-based NRIs.

Apart from Interups, a Delhi-based company, Kanti Commercials is leading a consortium along with Fragment Nivesh and Enormous Nivesh who put an EoI for Air India.

In its expression of interest (EoI) for Air India, Kanti Commercials has said, “We are very much eligible to bid for the disinvestment programme of Air India and have expertise in for turning around sick industrial enterprises into profitable ones”.

“For the past many years, we have completed many such acquisitions and achieved great success. We are in touch with a team of professional advisors and specialists who can help us revive sick units into profitable ones”, the EoI said.

“Moreover, we are bidding as a consortium of 3 members with the help of a Special Purpose Vehicle (SPV). The lead member is Kanti Commercials and other members are Fragment Nivesh and Enormous Nivesh”, Sourav Bag, Director, Kanti Commercials said in the EoI with the relevant documents.

On its part, the Centre on Monday, confirmed that the sell-off plan for Air India has moved to the second stage.

It said that multiple expressions of interest have been received for strategic disinvestment of the state-run carrier.

“Multiple expressions of interest have been received for strategic disinvestment of Air India. The transaction will now move to the second stage,” according to a tweet from the Secretary, Department of Investment and Public Asset Management.

Also Read: TATAs Still Interested In Buying Air India

Also Read: Air India set to connect Bengaluru and San Fransico

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-Top News India News

India Daily Digital – December 15, 2020 – London Seeks Better Ties With Delhi

London Seeks Better Ties With Delhi; Modi Vows Reforms in Indian Space Sector; Electoral College Makes It Official; Hamas calls for united resistance against Israel – all in India Daily Digital – please click here to read