Experts are calling for more policy support as the latest figures show that China’s foreign trade grew at a slower pace than expected in May. They blamed external factors, including the war in Ukraine and a sluggish world economy, which have suppressed global demand. With no improvement expected in the global outlook, economic demand from […]
India’s growth is likely to continue in 2023-24, according to the annual report from the Reserve Bank of India (RBI), although it also warned of challenges including slowing global growth, geopolitical tension and a possible upsurge in financial market volatility. As a result of these potential pitfalls, the RBI is recommending structural reforms to help […]
China’s new financial regulator, the National Administration of Financial Regulation (NAFR), has been officially launched. The government said the NAFR marks an important step for China as it looks to further strengthen and improve its financial supervision through an institutional reform. The new authority will strengthen institutional regulation and supervision, it said. It will also […]
The UAE’s Federal Tax Authority (FTA) has launched its ‘Tax Agents Classification’ initiative, to simplify tax compliance for taxpayers. The online service will help taxpayers pick a specialist tax agent based on the sector they work in, choosing from a list of 10 sectors, the WAM news agency has reported. Taxpayers can access the authorised […]
Malaysia and the United Arab Emirates are set to strengthen their economic ties by opening up discussions on a new trade agreement, known as the Comprehensive Economic Partnership Agreement (CEPA). In a Joint Ministerial Statement to launch the negotiations the two countries said CEPA will enhance their existing partnership” through more strategic collaborations to boost […]
India is to withdraw the 2,000-rupee – its highest denomination note – from circulation later this year, the Reserve Bank of India (RBI) has announced. The central bank said the note, introduced into circulation in 2016, will remain legal tender but people have been asked to deposit or exchange these notes by 30 September 2023. […]
Chinese companies and their counterparts in the ASEAN bloc (Association of Southeast Asian Nations) are exploring business opportunities in each other’s markets, propelled by the Regional Comprehensive Economic Partnership pact coming into effect. A report by United Overseas Bank (China) found that South-east Asia and the Hong Kong Special Administrative Region tied as the top […]
The imminent introduction of the OECD-proposed global minimum tax (GMT) for corporates will lead to an influx of specialised accounting and audit firms into the UAE, according to an industry expert. Corporates in the UAE and the wider Gulf Cooperation Council (GCC) region will need to beef up their reporting and compliance procedures to comply […]
