The government is formulating a mechanism to provide relief to depositors who had to pay 10 percent withholding tax whereas they earn less than Rs. 150,000 deposit interest a month, Minister of Labour Anil Jayantha said today. He told a news conference that the Inland Revenue Department will release the mechanism soon on how the […]
Read MoreThe second phase of four small hydropower projects, totaling 195 MW in capacity, is set to begin soon following the award of civil works contracts to contractors. The projects included in this phase are the 90 MW Jomori, 54 MW Gamri-I, 26 MW Druk Bindu I & II, and 25 MW Begana. The letters of […]
Read MoreThe Ministry of Tourism and Sports’ press service reported on Dec. 23 that accommodation facilities’ income increased by 27% this year, reaching 224 billion tenge (US$429.5 million). According to Kazakh Deputy Minister of Tourism and Sports Yerzhan Yerkinbayev, government support measures for private investors and business entities must be enhanced next year. Efforts to attract […]
Read MoreBhutan’s economic growth forecast for 2024 has been revised down to five percent, marking a 1.1 percent drop from earlier projections, primarily due to challenges in the domestic economy, including delays in Punatsangchhu-II Hydroelectric Project (PHPA-II) and a slow tourism recovery. According to the Macroeconomic Situation report from the Ministry of Finance, one of the main […]
Read MoreIn a post on X, Siriwardana emphasized the importance of avoiding past policy errors influenced by rigid ideologies, unfounded beliefs, or misleading narratives, which often lead to unrealistic and unsustainable decisions. Sri Lanka’s Secretary to the Treasury, Mahinda Siriwardana, announced on Saturday that the country has officially emerged from sovereign default. In a post on […]
Read MoreThe Exoskeleton Laboratory team at the Korea Advanced Institute of Science and Technology (KAIST) said their goal is to create a robot that seamlessly integrates into the daily lives of individuals with disabilities. South Korean researchers have developed a lightweight wearable robot that can walk up to paraplegic users and lock itself onto them, enabling […]
Read MoreDuring its irregular session on December 20, 2024, the Government of Mongolia made a decision to adopt a Resolution on Taking Several Measures on Mongolia’s Sovereign Wealth Fund. Through the Resolution, the Government instructed Minister of Mongolia and Chairman of the Cabinet Secretariat of Government Uchral Nyam-Osor and Minister of Finance Javkhlan Bold to distribute […]
Read MoreDespite a preponderance of data on the high-level of financial and environmental risks, the World Bank has opted to become a major financial backer of the Rogun hydropower dam project in Tajikistan, approving an initial $350 million grant to help finish the first phase of construction. Following up on the World Bank’s decision, the Asian […]
Read MoreThe announcement of the Gelephu International Airport, scheduled to begin construction in 2025 and expected to be completed by 2029, has raised significant hopes for residents, local leaders, and business owners in Gelephu. The airport, poised to become a major infrastructure project for southern Bhutan, promises to enhance connectivity, promote economic growth, and transform the […]
Read MoreEight large projects worth 27 trillion tenge will be developed in Mangistau region, governor Nurdaulet Kilybai told a press conference at the central communications service, Kazinform News Agency reports. The key directions for the development of the region are the processing sector, tourism transportation and logistics, small and medium business, and agro-industrial complex. He said […]
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