The 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 […]
Read MoreThe 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 MoreUzbekistan Deputy Prime Minister/Minister of Economy and Finance Jamshid Kuchkarov spoke about Uzbekistan’s plans to complete the transition to the wholesale electricity and gas market at the St. Petersburg International Gas Forum Thursday. “We must reliably supply the households and economic entities with natural gas. Of course, we have our own production, but at the […]
Read MoreGovTech is currently engaged in a third satellite project aimed at developing the satellite with minimal cost and in a short time possible by employing lean satellite development principles. This new satellite will use commercially available components that are ready for assembly, in contrast to the previous INS-2B satellite, which was indigenously designed and developed by […]
Read MoreMaldives is now supporting payments through cards running on RuPay, India’s card payment network. The decision was announced this week after talks between Indian Prime Minister Narendra Modi and Maldivian President Mohamed Muizzu. RuPay is the Indian alternative to Visa and MasterCard. Data by market research firm 1Lattice last year showed that RuPay dominated the debit card […]
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 […]
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