IMF ups China’s 2024 GDP forecast, urges focus on market-oriented reforms at July’s third plenum

China’s leaders should strive to ensure that economic growth is more demand driven, according to officials from the International Monetary Fund, as they also emphasised the need for Beijing to underscore market-oriented reforms at a highly anticipated political gathering in July that will set the tone for the country’s development trajectory in the next decade. […]

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The spices of two Indian companies are now banned in Malaysia

Malaysia has imposed a ban on the import, sale and use of Indian companies MDH and Everest’s Phis curry spices after high levels of ethylene oxide were detected. Earlier, Hong Kong, Singapore and Nepal also banned the spices of these two Indian companies. A statement from Malaysia’s Ministry of Health said on Tuesday (May 28) […]

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China’s Economy faces bankruptcy amid slowing consumption

The dire state of the Chinese economy, mirrored in the collapsing supermarket sector. Supermarkets, once bustling with customers, now stand eerily quiet, their shelves piled high with unsold stock. The lack of customers and slow-moving goods paint a grim picture of an economy in distress. The situation is a stark reminder of the economic challenges […]

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Sri Lanka’s Tea Industry Faces a Balancing Act with Wage Hike

  Sri Lanka’s tea industry, a cornerstone of its economy, is at a crossroads as a government-mandated 70% wage hike looms. While producers warn of potential economic fallout, the move has also been hailed as a necessary step toward addressing deep-seated labor inequities in the sector. On Monday, tea producers voiced strong opposition to the […]

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ADP Implementation Rate Drops to 49.26% in FY24’s First 10 Months

Dhaka: In a concerning turn of events, the Annual Development Programme (ADP) implementation has plummeted to 49.26% during the initial ten months of Fiscal Year 2024, according to recently released data. This decline marks the lowest implementation rate witnessed in the past three financial years, indicating potential challenges in meeting development targets. Figures from the Implementation […]

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India Begins Local Production of Range Rover, Aiming to Redefine Luxury SUV Market

In a landmark move for the automotive industry, Jaguar Land Rover (JLR) has started local production of its iconic Range Rover and Range Rover Sport models in India, marking the first time these luxury SUVs are being manufactured outside of the United Kingdom. The debut of Range Rover House in the affluent coastal town of […]

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Trade volume between Russia and Central Asia increases amid Western sanctions

Trade volume between Russia and Central Asian countries is on the rise despite Western sanctions stated Sergei Overchenko, Deputy Director of the third department of CIS countries of the Russian Foreign Ministry during an expert discussion hosted by the Valdai Discussion Club on 20 May Tass reports. The discussion focused on Russia and Central Asia […]

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Nepal Bans Indian Spice Brands Amid Health Concerns Over Pesticide Contamination

Nepal has joined a growing list of countries taking a stand against the import and sale of two prominent Indian spice brands, Everest and MDH, following alarming reports of cancer-causing pesticide contamination. This decisive move comes after similar bans were implemented in Hong Kong and Singapore, prompting widespread scrutiny of these popular products. The catalyst […]

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