India’s banks must finish updating their know your customer (KYC) due diligence for all customers with active accounts by June 2023, the Reserve Bank of India (RBI) has said. It added that it was investigating active accounts with sizeable balances where banks have not updated their KYC details, according to a report in the Economic […]
The entire Asia-Pacific region would receive big economic benefits if China signed up to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPATTP), according to business leaders. Their remarks were prompted by comments from Wang Shouwen, vice-minister of commerce, who said China has “both the willingness and capability to join the CPTPP”, and called on […]
The number of women investing in savings schemes in the UAE grew by a 51% last year over 2021, new figures show. According to industry experts, sharply rising household prices are encouraging women to invest in inflation-beating saving options across a diversified asset portfolio. Many of these women investors are turning to micro-investing apps, which […]
India’s Prime Minister Narendra Modi has agreed with his British counterpart Rishi Sunak to speed up the progress of the India-UK free trade agreement (FTA) negotiations. In a telephone conversation the two leaders agreed to follow up their discussions at the G7 meeting in Japan next month and the G20 Summit being hosted by India […]
China’s economy recorded better-than-expected growth of 4.5% year-on-year in the first quarter of 2023, according to new data from the National Bureau of Statistics (NBS). The country’s GDP in the first three months hit 28.5 trillion yuan ($4.15 trillion), an increase of 2.2% compared with the fourth quarter of 2022. “The growth is hard-won against […]
Malaysia’s economy is set to normalize in the first quarter of 2023, with external trade being the main growth driver for gross domestic product (GDP). According to Malaysia University of Science and Technology economics professor Geoffrey Williams and HELP University economist Paolo Casadio, the Malaysian economy is expected to grow 2.6% year-on-year but contract 0.1% […]
Some 60% of employers in India expect to be hiring more staff due to the government’s Production Linked Incentive (PLI) schemes, a survey has found. The report from employment specialist TeamLease found that 68% of employers in the pharmaceutical industry expect to hire more staff, followed by the white goods industry (67%) and textile products […]
The governments of both China and France are hoping that French President Emmanuel Macron’s recent trip to China will strengthen trade ties between the two nations. France and China are essential export markets for each other, with trade volumes reaching a record high in 2021. According to data from the Huajing Industry Research Institute, the […]
Private sector companies with 50 employees or more have meet their Emiratisation targets or face sanctions, the UAE’s Ministry of Human Resources and Emiratisation (MoHRE) is warning. MoHRE listed five important factors related to Emiratisation targets that were amended at the start of this year. “The beginning of 2023 marked a fresh start to achieve […]
