Claiming that Sri Lanka has come a long way in terms of undertaking reforms which have led to some hard won gains, the International Monetary Fund (IMF)said they could move fast towards the third review which will come up soon. IMF Director of the Asia and Pacific Department Krishna Srinivasan told a special briefing that […]
Read MoreMaldives Finance Minister Moosa Zameer has submitted a supplementary budget of MVR 5.1 billion to the Parliament for approval. The new budget seeks to supplement the MVR 49.8 billion state budget for 2024 that was passed by the Parliament last year. The Finance Ministry said that it decided to submit the supplementary budget not because […]
Read More“We have formally requested to be considered for this facility,” Finance Minister Muhammad Aurangzeb said in an interview on the sidelines of the IMF/World Bank autumn meetings in Washington. Pakistan is targeting around $1 billion in a formal request for funding from the IMF facility that helps low- and middle-income countries mitigate climate risk, its […]
Read MoreRetailers have pointed to a particularly steep decline since July, saying inflation is eroding household budgets, leaving many families prioritising essentials over discretionary spending. From groceries to clothing to personal care items, demand is plummeting across the board in Bangladesh, and retail industry experts warn that even brief signs of recovery are waning due to […]
Read MoreLVMH, the world’s biggest luxury group, reported a 3% fall in quarterly sales last week, undershooting estimates in its first decline in quarterly sales since the pandemic as demand in China and Japan weakened. China’s second-hand and grey markets for luxury goods are booming, as price hikes from luxury brands in a weak economy are […]
Read MoreThe Maldivian government has announced the sale of over MVR 4 billion in T-bills as it seeks to manage its cashflow. According to an announcement by the Finance Ministry last week, the government is selling four T-bills worth total MVR 4.27 billion. The T-bills up for subscription are: MVR 1.97 billion T-bill which matures in […]
Read MorePakistan is going to introduce an interest-free banking system. The country has already amended its constitution for this purpose. Through the 26th amendment to the Pakistani constitution, the country will stop the ‘riba’ or interest-based banking system and introduce interest-free banking from the beginning of 2028. This information came to light in a report by […]
Read MoreThe People’s Bank of China is expected to cut its loan prime rates on Monday, Beijing’s latest move in a series of monetary, fiscal and liquidity support measures to shore up the imploding property sector, revive growth and fight off deflation. The trading week in Asia opens against an increasingly bullish global backdrop fueled by […]
Read MoreThe Japanese central bank is widely expected to keep rates steady at the October meeting, as Governor Kazuo Ueda has stressed the need to spend time scrutinising risks such as uncertainty over the US economy and the fallout from volatile markets. The Bank of Japan holds a two-day policy meeting concluding on Oct. 31, days […]
Read MoreIndian airlines have been hit by a series of bomb threats. The BBC reported on Monday that the country has received about 90 bomb threats to domestic and international flights since last week. India’s aviation sector has been hit hard by the series of bomb threats. According to a report published by NDTV, 11 flights […]
Read More
