Photo: Aniruddha Chowdhury/MintDhaka: India and China have launched rival bids for a large stake in Bangladesh’s stock exchange, officials said Thursday, as the Asian powers jostle for strategic influence in the region. “The BSEC (Bangladesh Securities and Exchange Commission) declined to give the order to go ahead,” the official said, speaking on condition of anonymity. Local press has blamed political interference for the alleged favouritism toward India, despite the offer from the Mumbai-based stock exchange falling short of China’s more lucrative bid by nearly 50%. The competing bids have exposed tensions in Bangladesh as it juggles growing interest from China against long-standing ties with India, its large and influential neighbour. But there have been setbacks, with Bangladesh last month blacklisting a top Chinese construction firm for allegedly trying to bribe a senior government official.

Source: Mint February 15, 2018 04:07 UTC