Finance Minister Lan Foan told a press conference Beijing will help local governments tackle their debt problems, offer subsidies to people with low incomes, support the property market and replenish state banks’ capital, among other measures. China pledged on Saturday to “significantly increase” debt to revive its sputtering economy, but left investors guessing on the […]
Read MoreThis year’s event – the largest car show in Europe – comes at a pivotal time. Struggling European automakers need to prove they are still in the game, while Chinese rivals are aiming to get a foothold in a competitive market. Chinese and European automakers are going head-to-head at the Paris car show on Monday, […]
Read MoreOver the past decade, Nepal received foreign direct investment (FDI) commitments worth Rs395.92 billion, but only Rs126.29 billion, or 37.89% of the pledged amount, has materialised, according to data from Nepal Rastra Bank (NRB). Between fiscal year 2014/15 and the last fiscal year, although substantial foreign investment commitments were made, a significant portion failed to […]
Read MoreThe rupee dipped to a lifetime low of 84.0725 to the US dollar, inching past the prior low of 84.07 hit on Friday. The Indian rupee dropped to an all-time low on Monday, weighed down by persistent dollar demand from foreign banks, likely for their custodial clients. The rupee dipped to a lifetime low of […]
Read MoreChina has announced a significant increase in public debt to support the country’s local governments, low-income citizens, housing sector and state bank capital. After overcoming the 2007-2008 global recession, this is the first time the country has given such a large incentive program. China’s Finance Minister Lan Foan said on Saturday that 2.3 trillion yuan […]
Read MoreThe government plans to extract and export 10.7 million cubic feet (cft) of timber in 2024 as part of the Phase II nationwide scientific thinning operation. This announcement was made by the Minister of Energy and Natural Resources, Gem Tshering, during the Meet-the-Press session yesterday. The Department of Forests and Park Services (DoFPS) has rolled […]
Read MoreMaldives government has submitted a bill to the parliament seeking to double Green Tax, levied on tourists, and increase Tourism Goods and Service Tax (TGST) and airport taxes. Crucial three bills have been submitted to the Parliament by the government as the Parliament is set to reconvene after recess on Monday. West Maafannu MP Mohamed […]
Read MoreChandra Nahar, Nepal’s oldest irrigation system, has incurred damages worth over Rs5 million due to recent flooding. Several sections of the main canal’s dykes have collapsed, causing extensive harm. The Chandra Nahar, completed in 1928, has sustained damage at two locations in Diwan, Tirahut Rural Municipality-4, according to Badri Narayan Yadav, president of the Chandra […]
Read MoreIndia’s economic growth forecast for the current fiscal year, ending in March 2025, was revised to 7% year-on-year, up from April’s estimate of 6.6%, helped by a rebound in agricultural output and increased private consumption. The World Bank raised its growth forecast for South Asia to 6.4% in 2024 from an earlier estimate of 6.0%, […]
Read MoreThe Bank of Korea lowered the benchmark rate 25 basis points to 3.25 percent — the first reduction since May 2020, during the pandemic. It began a series of base rate hikes the following year. South Korea’s central bank cut interest rates Friday for the first time in more than four years, in line with […]
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