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sary and shopup merge to create silq raising 110 million dollars
Saudi B2B ecommerce platform Sary has merged with Bangladesh's ShopUp to create Silq Group, the largest B2B commerce platform in the Gulf and Emerging Asia, backed by a $110 million funding round led by Sanabil Investments and Valar Ventures. The merger aims to enhance access to products for retailers and manufacturers, with both brands continuing to operate under their names while leveraging combined capabilities. Silq plans to strengthen its presence in Qatar, addressing challenges faced by B2B businesses with an integrated platform for financial, logistics, and commerce services.
bjp condemns foreign funding as interference in indian electoral process
Elon Musk's Department of Government Efficiency has canceled a $21 million grant aimed at boosting voter turnout in India, citing concerns over government efficiency and questionable overseas political activities. The BJP condemned the funding as "external interference" in India's electoral process, linking it to foreign influence, particularly from George Soros. Additionally, $29 million intended for political strengthening in Bangladesh has raised suspicions of U.S. involvement in recent political upheavals there.
world bank supports bangladesh's economic reforms and anti-corruption initiatives
The World Bank is eager to support Bangladesh's interim government in its economic reform agenda, focusing on areas like banking, taxation, and anti-corruption. Vice President Martin Raiser expressed excitement about the reforms and highlighted the need for increased foreign direct investment. Chief Adviser Professor Muhammad Yunus emphasized a commitment to tackling corruption and enhancing labor reforms to boost investor confidence.
world bank supports bangladesh in inclusive growth and recovery reforms
World Bank Vice President Martin Raiser concluded his visit to Bangladesh, pledging support for reforms aimed at achieving inclusive and sustainable growth. The World Bank's $2.3 billion program will enhance economic resilience, aid flood recovery, and support the Rohingya population. Raiser emphasized the need for improved governance and job creation for the 2 million youth entering the job market annually.
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