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India's LIC exploring Bangladesh

The Life Insurance Corporation of India (LIC) has approached regulatory authority in Bangladesh for necessary approvals to start business, the Kolkata English daily, 'Telegraph' reported.

“Our entry into Bangladesh is subject to regulatory approvals. We have to apply to the local regulator and we are in an active stage of discussion,” said Hemant Bhargava, east zone manager of the LIC. Bhargava said LIC officials have already visited Bangladesh. “So far the indications are all positive.” At present, Bangladesh has 62 insurance companies and all but one, local players. US-based MetLife Alico is the only foreign insurer. Bangladesh has now opened up its insurance sector to foreign direct investments. The move will enable the LIC to partner a local player and start business. Unlike in India, Bangladesh allows a foreign insurer to pick up a controlling stake in insurance. The LIC is already present in Nepal, Sri Lanka and Singapore.


Cox’s Bazar tourism goes haywire

The ongoing shutdowns and blockades have driven the hospitality industry in Cox’s Bazar to the brink of ruin, forcing hoteliers to send many of their employees on leave to minimise losses. November-February is the peak season for tourists, but the occupancy rate has come down to almost zero now, said oteliers in the town of the world’s longest sea beach. If the situation does not normalise soon, many will have to close their business, they said. “We never faced such a situation since we set off in Cox’s Bazar in 2002,” said Sheikh Imrul Islam Siddique, chief executive officer of Seagull Hotel, which has 181 rooms.

Trophy at Radisson, not BNS

After daylong confusion about the venue of display of the FIFA World Cup trophy, it was confirmed last night that the display will take place at the Radisson Blu Water Garden Hotel, instead of at the Bangabandu National Stadium (BNS) as originally scheduled. Bangladesh Football Federation (BFF) president Kazi Salahuddin and Coca Cola’s country manager Debashish Deb briefed the media at the hotel shortly before 9:00pm saying that the display will take place at the hotel as there are logistical issues involved which are not feasible at the BNS. “This is due to logistics that we cannot afford at the BNS. It was our fault that we had fixed the programme at BNS, without really analysing all the logistical issues. We have been instructed from the Coca Cola head office in Atlanta and Zurich (FIFA head office) to hold it here at the hotel because they want to keep track of who is getting in and out of the venue,” said Salahuddin, claiming that it was not due to any security reasons.

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