Sunday, November 19, 2017 | ePaper

Modi, Abe get India's first bullet train going as ties deepen

  • Print
AFP, New Delhi :
As India's premier Narendra Modi and his Japanese counterpart Shinzo Abe prepare to break ground on the country's first bullet train project Thursday, experts say the collaboration could signal a massive leap for its overburdened and deadly railways.
India's colonial-era rail network carries some 22 million passengers daily, making it one of the busiest in the world. But it is also among the most dangerous.
A government report published in 2012 said almost 15,000 people were killed every year in rail accidents, describing the deaths as an annual "massacre" due mainly to poor safety standards.
Modi has pledged to invest billions of dollars to modernise the country's crumbling railway infrastructure, which is plagued by delays, and the bullet train was one of his key election promises ahead of a landslide victory in 2014.
As New Delhi and Tokyo seek to forge closer ties to combat China's growing regional influence, the project offers a diplomatic and economic boost.
The premiers will lay the foundation for the bullet train network in the western city of Ahmedabad-connecting Modi's home state of Gujarat with India's financial capital Mumbai.
Japan is a pioneer in high-speed rail transport-with its Shinkansen bullet train ranked among the fastest in the world.
With projected top speeds of up to 350 kilometres (217 miles) an hour- more than double the maximum speed offered by the fastest trains operating in India-it will reduce travel time between the two cities from eight hours to at most three-and-a-half hours.
The new train, which will have a capacity of 750 passengers, is also expected to be safer than the country's creaking rail network, the world's fourth largest by distance.
Modi recently replaced his railway minister after a series of derailments, including one last month in which at least 23 people were killed in northern Uttar Pradesh state. Nearly 150 died in a similar accident in November.

More News For this Category

Amir Uddin, Audit Committee Chairman, Board of Directors of Al-Arafah Islami Bank Limited, presiding over its 171st meeting at its head office in the city on Wednesday. Md. Habibur Rahman, Managing Director of the bank, Abdus Salam, Abdul Malek Molla, Niaz Ahmed and Khalid Rahim, members of the committee were also present.

Amir Uddin, Audit Committee Chairman, Board of Directors of Al-Arafah Islami Bank Limited, presiding over its 171st meeting at its head office in the city on Wednesday. Md. Habibur Rahman, Managing Director of the bank, Abdus Salam, Abdul Malek Molla, Niaz Ahmed and Khalid Rahim, members of the committee were also present.

.

Central bank conducts highest weekly liquidity injection in 10 months

Xinhua, Beijing :China's central bank injected a net 621 billion yuan (about 93.71 billion U.S. dollars) into the market via open market operations this week to ease the liquidity

Australia gambling giants merger approved after setback

AFP, Sydney :A merger between Australian gambling giants Tabcorp and Tatts is back on track after a tribunal on Friday approved the Aus$8.6 billion (US$6.5 billion) deal following a

Kazi Akram Uddin Ahmed, Chairman of Standard Bank Limited, presiding over its 284th Board Meeting at its head office in the city on Thursday. Mamun-Ur-Rashid, Managing Director, SAM Hossain, Vice-Chairman, Kamal Mostafa Chowdhury, Ashok Kumar Saha and Ferozur Rahman, Directors of the bank were also present.

Kazi Akram Uddin Ahmed, Chairman of Standard Bank Limited, presiding over its 284th Board Meeting at its head office in the city on Thursday. Mamun-Ur-Rashid, Managing Director, SAM Hossain, Vice-Chairman, Kamal Mostafa Chowdhury, Ashok Kumar Saha and Ferozur Rahman, Directors of the bank were also present.

.

China to build $1.6b aluminium plant in Tajikistan

AFP, Dushanbe :China will build an aluminium factory worth $1.6 billion in ex-Soviet Tajikistan, the Central Asian country's leading smelter said Friday, in a sign of Beijing's increasing influence

Guinea receives $20b in pledges for dev

AFP, Paris :Guinea on Thursday won pledges in aid worth $20 billion to fund a five-year development plan at a meeting in Paris with banks, private players and governments.The

Manjur Ahmed, Managing Director of Bangladesh Development Bank Limited, poses with the participants of a day-long training on

Manjur Ahmed, Managing Director of Bangladesh Development Bank Limited, poses with the participants of a day-long training on "Risk Management Process, Loan Classification and Provisioning" at its Training Institute in the city on Sunday. Mohammad Nuruddin, head of the institute among others were present.

.

Khorshed Alam promoted as GM of Sonali Bank

Khorshed Alam promoted as GM of Sonali Bank

Business Desk :Md. Khorshed Alam Patwary has been recently promoted as General Manager of Sonali Bank Limited and joined head of Ramna Corporate Branch, said a press release.Prior to,

Editors, journalists for ensuring hassle-free services for taxpayers

Economic Reporter :Taxpayers will be encouraged to pay tax if the National Board of Revenue (NBR) ensures all facilities like income tax fair for them at its all offices

NBR awards Walton as highest tax payer

Business Desk :The country's electronics company 'Walton' has been awarded the highest tax paying certificate for the second time. In firm category, the National Board of Revenue honored Walton