Adani deal under bribery scrutiny was approved against officials’ advice

US prosecutors allege that $228 million was offered to an unnamed Andhra Pradesh official by the defendants to direct the state’s electricity distribution companies to purchase the solar power supplied to SECI by Adani Green. The approach from the Solar Energy Corporation of India (SECI) on 15 September 2021 came out of the blue. The […]

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India’s richest men drop out of world’s elite $100 billion club

The wedding celebration of Indian billionaire Mukesh Ambani’s son Anant earlier this year was the stuff of tabloid fantasy: a seven-month extravaganza that saw Rihanna and Justin Bieber flown in to entertain guests across exotic locales from Mumbai to the Italian Riviera. The event — which cost $600 million by some estimates — offered a […]

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Savings in the National Currency of Mongolia Increased by MNT 5.4 Trillion

The savings in Tugrug, the national currency of Mongolia, reached MNT 20.7 trillion as of the end of October 2024, an increase of MNT 94 billion (0.5 percent.) Compared to the same period of 2023, the total amount of Tugrug savings increased by 5.4 trillion, or 34.9 percent.  Of the total Tugrug savings, MNT 17.9 […]

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Uzbekistan aims to process up to 300,000 tons of copper domestically

Uzbekistan plans to annually process up to 300,000 tons of copper in its domestic market. To reach this target, the country is creating clusters, technoparks, and joint ventures focused on the production of copper-based products. This was announced by Ural Yusupov, Deputy Minister of Mining and Geology of Uzbekistan, during the International Congress on “Mining […]

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Pakistan central bank cuts key rate by 200 bps, fifth in a row

Pakistan’s central bank cut its key policy rate by 200 basis points to 13% on Monday, it said in a statement, its fifth straight reduction since June as the country keeps up efforts to revive a sluggish economy with inflation easing. Pakistan’s latest move makes this year’s cuts the most aggressive among emerging market central […]

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Country’s economy is getting vibrant: Nepal FM Paudel

Deputy Prime Minister and Minister for Finance, Bishnu Prasad Paudel, has asserted that the country’s economy was improving gradually following the government efforts. Congratulating and extending best wishes to the newly-elected executive committee of Nepalese Association of Financial Journalists (NAFIJ) on Monday, Finance Minister Paudel mentioned that the country’s economic indicators at present are positive. […]

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EU Allocates €19.8M for Economic Empowerment in Afghanistan

The European Union (EU) in Afghanistan announced that it has allocated €19.8 million to the Aga Khan Foundation and Aga Khan Cultural Services to implement the “Economic Resilience, Women’s Economic Empowerment, and Job Creation in Afghanistan” initiative.  According to the EU, this project, with a total value of €22 million, aims to address the immediate […]

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India must do more to tax its super-rich: France’s Piketty

The writer of the best-selling book “Capital in the 21st Century” called on India to follow through on a July pledge by finance ministers from the Group of 20 major economies to cooperate on effectively taxing the world’s largest fortunes. India should do more to tax its super-rich given its high levels of inequality, French […]

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Uzbekistan aims for $700M in auto exports and increased localization in 2025

On December 5, President Shavkat Mirziyoyev reviewed a presentation outlining key priorities for the automotive industry ahead of 2025. The discussion, which built on instructions given last month, emphasized enhancing production capacity and improving vehicle quality. With over 400,000 vehicles sold annually, the automotive sector is poised for continued growth, driven by increasing consumer incomes. […]

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