DHAKA: A Chinese and Bangladeshi joint venture on Thursday signed a deal with the Bangladeshi government to build a mega expressway under the country’s first major public-private partnership (PPP) initiative.
Sichuan Road and Bridge (group) Co., Ltd has won the deal jointly with local Unique Dream Consultant and Shamim Enterprise Limited to construct the 48-km Dhaka Bypass Expressway.
The expressway, connecting Joydevpur, Debugram, Vulta, and Modonpur, will establish an easy link for the industrial belts around Dhaka with the seaport city Chattogram and northeastern Sylhet region bypassing the capital city.
According to the Asian Development Bank, the bypass road will help alleviate traffic congestion in the city center, enhance road network connectivity, meet economic/traffic growth targets, and reduce CO2 emissions and air pollution.
The expressway will help improve Bangladeshi transportation infrastructure, promote local economic development and increase local employment, and it has been a platform for exchanges between China and Bangladesh, said Yang Rugang, representative of the joint venture company.
“Together, we will strive to set a benchmark for highway construction in Bangladesh and make an important contribution to the construction and development of Dhaka city transportation system,” said Yang.
Tokyo bourse closes in the green
TOKYO: Shares edged up today with investors expressing relief as US President Donald Trump appeared to take a softer stance on his thorny trade dispute with Japan.
The key Nikkei 225 index rose 0.31 percent, or 65.36 points, to close at 21,182.58, while the broader Topix index was up 0.38 percent, or 5.79 points, at 1,547.00.
“Players were relieved as President Trump did not take a tough stance on the US-Japan trade issue,” Daiwa Securities chief technical analyst Eiji Kinouchi told AFP.
After a fun-filled weekend of golf and sumo, Trump and Japanese Prime Minister Shinzo Abe held formal talks Monday, with trade and tensions with North Korea topping the agenda.
Ahead of their talks, Trump hinted that tough negotiations on their bilateral trade could wait until after July elections in Japan.
Trump tweeted: “Great progress being made in our Trade Negotiations with Japan. Agriculture and beef heavily in play.”
In remarks after the closing bell, Trump also told reporters: “We hope to have even more to announce on the trade, very very soon.”
The dollar fetched 109.52 yen in Asian afternoon trade, against 109.29 yen in New York late Friday.
In Tokyo, Nissan was up 0.97 percent at 747.8 yen after news that its French alliance partner Renault and Italian-US auto giant Fiat Chrysler are weighing a potential merger.
Its rival Toyota gained 0.79 percent to 6,554 yen while Honda was down 1.11 percent at 2,759 yen.
Takeda Pharmaceutical jumped 2.46 percent to 3,942 yen while telecom and investment firm SoftBank Group was up 1.65 percent at 10,465 yen.
PM Imran congratulates Modi on BJP victory
ISLAMABAD: Imran Khan has congratulated Narendra Modi on BJP’s landmark victory via telephone here on Sunday.
Prime Minister Imran Khan has expressed his desire for both countries to work together for the betterment of their peoples.
“Reiterating his vision for peace, progress, and prosperity in Sout Asia, the Prime Minister said he looked forward to working with Prime Minister Modi to advance these objectives,” Spokesman added.
Incidentally, Hindu Nationalist BJP has ameliorated its position by bagging 303 seats.
President Alvi meets Chinese VP Wang Qishan
ISLAMABAD: President Dr. Arif Alvi held a meeting with Chinese Vice President Wang Qishan at the Presidency here today.
The two leaders discussed bilateral relations and matters pertaining to mutual interests. Those present on the occasion included among others Foreign Minister and Planning Minister.
A relevant piece published earlier: