India’s market share grew from 4% to 5.3%, while Pakistan’s increased from 1.9% to 2.6%. In the competition to capture a larger share of the US apparel market, which China is gradually losing, Vietnam and India are surpassing Bangladesh, particularly in high-value garment exports, according to a report by the United States International Trade Commission. […]
Read MoreTo achieve a USD five billion economy and a gross domestic product per capita (GDP) exceeding USD 6,174 by 2029, the government has projected a Nu 225.59 billion GDP contribution from the identified seven sectors. This is according to the draft 13th Plan. Under the Plan, the agriculture sector’s contribution is expected to increase from […]
Read MoreSri Lanka’s new government, led by President Anura Kumara Dissanayake, plans to engage in detailed discussions on potential changes to the International Monetary Fund (IMF) programme later this month following a review. Cabinet Spokesman Vijitha Herath announced at the government’s first Cabinet media briefing that a local delegation would travel to the IMF headquarters in […]
Read MoreThe overall rate of inflation, as measured by the Colombo Consumer Price Index (CCPI) on Year-on-Year basis, has decreased to -0.5% in September 2024, compared to 0.5% in August 2024, according to the latest data released by the Department of Census and Statistics. Meanwhile, food inflation has decreased to -0.3% in September 2024 compared to […]
Read MoreThe World Bank said that it has provided $1.7 billion in aid to Afghanistan since August 2021. In its latest report, the World Bank added that key projects in Afghanistan include community stability and livelihood, emergency health response, emergency food security, support for civil society organizations’ capacities, and empowerment of small loans. The World Bank […]
Read MoreThe dollar dipped to a fresh one-month low versus the euro and a 2 1/2-year trough to sterling after weak US macroeconomic data overnight boosted the case for a second super-sized interest rate cut at the Federal Reserve’s next meeting. Gold renewed an all-time peak. Chinese stocks made brisk gains on Wednesday, extending their stimulus-fueled […]
Read MoreThe ringgit is expected to continue appreciating next week, despite traders remaining cautious about key United States economic indicators, said an analyst. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid told Bernama that several important data points to keep an eye on, including the US ISM index for the manufacturing sector, the […]
Read MoreAfter a decade, Fitch Ratings has upgraded Mongolia’s credit rating to “B+ with a stable outlook,” indicating improved economic conditions. This upgrade suggests that Mongolia’s economic performance is approaching levels last seen in 2012. Prime Minister Oyun-Erdene Luvsannamsrai highlighted that this positive development will boost the implementation of 14 mega-projects announced by the Government. A […]
Read MoreThe chief advisor of the interim government said that our main goal at the moment is to correct the mistakes of the past and build a competitive and strong economy and a justice-based social system. Muhammad Yunus. He said this in his speech at the 79th session of the United Nations General Assembly on Friday. […]
Read MoreThe balance of payments (BOP) in the country remained at a surplus of Rs 40.90 billion in the first month of the current fiscal year 2081/082 BS, according to the Nepal Rastra Bank (NRB). The BOP surplus was Rs 36.43 billion in the same period of the previous year. In the US Dollar terms, the […]
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