The auction offerings were relatively static and totalled 5.8 million kilogrammes. There was fair demand though the prices tended to weaken as the sale progressed. The volatility of the currency and strengthening of the Sri Lankan rupee, over the past several days, adversely impacted the rupee tea prices. The Ex-Estate offerings too were fairly similar […]
Read MoreMaldives state has earned a revenue of MVR 2.30 billion in September 2024, which is a 93.1 percent increment compared to the same month last year. According to the Maldives Inland Revenue Authority (MIRA), which published the revenue report, this significant increment is mainly due to the significant increment in GGST, TGST and Tourism Land […]
Read MoreNoel Tata has been appointed as the chairman of India’s largest industrial group Tata Trust. He is the half-brother of late industrialist Ratan Tata. Noel was appointed chairman of the trust at a board meeting in Mumbai on Friday. Noel is the vice chairman of Tata steel and watch company Titan. His mother is French-born […]
Read MoreWith the opening of a new oil well in the Qashqari region of Sar-e Pol province, oil extraction has increased to over 5,000 barrels per day. Officials from the extraction company have announced the transfer of 79 trucks of advanced equipment to boost oil extraction in Qashqari and Zamarud Sai in Jawzjan province, and they […]
Read MoreThe World Bank said on Thursday that the Maldives has made limited progress in implementing the fiscal reform plan proposed by the Maldivian administration back in February, adding that urgent actions are needed to reduce spending. The global financial institute, in its biannual update released on Thursday, expressed concern over the delay in the rollout of the […]
Read MoreThe incessant rainfall that took place in mostly in central and eastern parts of the country on 27 and 28 September has inflicted damages worth Rs 730 million to the public transport sector. According to the information shared by the National Federation Transport Entrepreneurs Nepal, the damage has been estimated to be around Rs. 729.80 […]
Read MoreThe Ministry of Finance of Mongolia announced on October 4, 2024, that the “S&P” international agency upgraded Mongolia’s credit rating to “B+ Outlook positive.” The Fitch Ratings international agency upgraded Mongolia’s credit rating to “B+” two weeks ago, announcing that the upgrade was due to the country’s reduced debt burden, improved fiscal discipline, consistent increase […]
Read MoreThe Sri Lankan economy has stabilised with growth expected to reach 4.4 percent in 2024, surpassing earlier forecasts, the World Bank (WB) said today. The World Bank’s bi-annual Sri Lankan development update titled ‘Opening Up to the Future’, however cautioned that the recovery remains fragile and hinges on maintaining macroeconomic stability, successfully restructuring debt and […]
Read MorePresident Dr. Mohamed Muizzu on Thursday, has stated that the United Nations Development Programme (UNDP) has been instrumental in shaping the Maldives’ development path. He made the remark during his address at the ceremony marking the 45th anniversary of UNDP in the Maldives. The commemorative event was held on Thursday evening, which was attended by […]
Read MoreElectricity tariff for non-domestic consumers was increased in Kyrgyzstan. The Chairman of the Cabinet of Ministers Akylbek Japarov signed the corresponding decree. Non-domestic consumers will pay for electricity at a rate of 376.7 tyiyns per 1 kilowatt-hour, excluding taxes. The document notes that «the decision was made in order to ensure reliable and uninterrupted supply of electricity to consumers in conditions of shortage, as well as to ensure reimbursement of costs of electricity […]
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