Uzbekistan’s draft state budget for 2025, now open for public review, reveals plans to focus on economic growth, infrastructure, and social sector enhancements. The budget anticipates a 6% GDP growth rate alongside an inflation rate hovering around 7%, with the state aiming to maintain the budget deficit at 49.3 trillion UZS, or 3% of GDP. […]
Read MoreA Resident Foreign Currency Deposit (RFCD) account is a savings account that allows Bangladeshi residents to manage and access foreign currency. Banks will no longer be required to adhere to the Secured Overnight Financing Rate (SOFR) caps when setting interest rates on Resident Foreign Currency Deposits (RFCDs). Instead, banks will be allowed to determine interest […]
Read MoreThe International Monetary Fund has lowered its inflation forecast for Pakistan for the current year by 3.2 percentage points to 9.5%, the country’s finance minister said on Thursday. The IMF’s revised projection bring it closer to Pakistan’s own projections, Finance Minister Muhammad Aurangzeb said. He said there was no need to introduce a mid-year budget, […]
Read MoreFinance Minister Moosa Zameer on Thursday presented a projected state budget of MVR 56.6 billion for next year. The total budget for this year is MVR 55 billion, with the MVR 5.1 billion supplementary budget approved earlier this week. This means next year’s projected budget is higher than this year’s by MVR 1.6 billion. The […]
Read MoreQuick commerce has reshaped how Indians shop as Zomato, SoftBank-backed Swiggy and Zepto now promise deliveries from their neighbourhood warehouses within 10 minutes, even beating Amazon. Asia’s richest man Mukesh Ambani is mimicking the strategy of popular Indian grocery startups to drastically change how his retail empire operates: from home deliveries that can take a […]
Read MoreSome 1.2 million National Servicemen will receive $200 in LifeSG credits in November. The credits, which will be disbursed by Nov 30, aim to recognise the contributions of past and present NSmen to Singapore’s defence and security, said the Ministry of Defence and the Ministry of Home Affairs in a joint statement on Wednesday (Oct 30). […]
Read MoreAgricultural workers were particularly impacted, accounting for 63.5% of potential hours lost and 54% of income losses related to extreme heat. Bangladesh faced significant economic losses due to heat exposure in 2023, with an estimated $21 billion lost in income due to reduced labour capacity, according to a report by The Lancet. Agricultural workers were […]
Read MoreThe Maldivian government is set to propose a state budget exceeding MVR 60 billion for next year – marking the biggest budget in the country’s history. The Parliament had originally passed a budget of MVR 49.8 billion for this year. But on Tuesday, the legislative assembly approved a supplementary budget of MVR 5.1 billion – […]
Read MoreIron Beam would supplement other aerial defence capacities such as the more well-known Iron Dome. Israel’s defence ministry said on Monday it has earmarked $530 million to accelerate development of the laser air defence system known as “Iron Beam”. “The Ministry of Defence has signed a major deal worth approximately 2 billion shekels to significantly […]
Read MoreA trend for Adidas’s “terrace” shoes, retro models inspired by soccer fans’ footwear in the 1970s and 80s, have driven sales at the German sportswear company. Adidas on Tuesday said it saw strong underlying growth in Greater China in the third quarter, while sales in North America excluding the Yeezy collection were up on the […]
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