The UAE’s economy is expected to grow by 3% this year and 4% in 2024, driven by strong growth in its non-oil sector, according to a new report. S&P analysts said that the rising number of tourist arrivals, supportive government initiatives and increasing tech advancements are expected to drive the country’s economic expansion. Trevor Cullinan, […]
Some 63% Indian consumers are cutting back non-essential spending, with 75% of them ‘very concerned’ about their financial situation, according to the 2023 PwC Global Consumer Insights Pulse Survey. And nearly half of the Indian consumers (50%) told researchers that rising prices remain the biggest issue when shopping in-store, along with product availability (28%), which […]
China’s economic recovery is picking up greater momentum, key indicators from consumption to production show. The latest purchasing managers’ index for China’s manufacturing sector, which came in at 50.2 in September, indicates an expansion, making four consecutive months of growth. Any score of above 50 represents growth; a figure below 50 means the sector has […]
A leading financial institution has lowered India’s gross domestic product (GDP) projection by one percentage point for the fiscal year 2022-2023 to 6.3% from 6.4%. However, the Asian Development Bank (ADB) has kept its GDP projection for the current fiscal year (2023-2024) at 6.7%, with rising private investment and industrial output expected to drive growth. […]
China’s central bank has pledged to continue with support measures for economic recovery as the economy continues to pick up. The People’s Bank of China (PBOC) said in a statement: “Currently, the external environment is becoming more complex and severe, with a slowdown in the world economy as well as international trade and investment, still […]
The interests of Malaysia’s micro, small and medium enterprises (MSMEs) will be forefront in the upcoming Budget 2024, the country’s Ministry of Finance has confirmed. Deputy Finance Minister Steven Sim said Budget 2024 will focus on the development and employment in the MSME sector. He said: “This is because MSME is one of the main […]
China has announced a series of fiscal measures to help the country’s small and medium-sized enterprises (SMEs) with their digital transformation programmes, including updating their payroll processes. The Ministry of Finance also pledged to streamline its procurement procedures, to enable SMEs to compete with their larger rivals. The ministry has also confirmed that the policy […]
The Indian economy is improving, thanks to increases in private consumption and a strong public sector capital expenditure, according to the Reserve Bank of India’s (RBI) latest State of the Economy report. Despite a depressed global economy, the report flagged “a new risk to global financial stability”, with crude oil prices hitting a 10-month high, […]
The UAE’s economy grew by 3.8% in the first quarter of 2023, according to a new report from the Organisation of the Petroleum Exporting Countries (Opec). In its September 2023 report, Opec said it predicted the UAE’s economy would continue to expand, noting that key sectors of the country’s economy have seen significant growth. The […]
