India’s central bank should prioritise reducing inflation to the mandated range of 2%-6%, even if it harms economic growth, according to Finance ministry officials. “The central bank should focus on combating inflation until it is within the tolerance level of 6%, even if it pares (down) growth,” a senior government official told Business Standard. He […]
Digital transformation of China: The Chinse government is to ramp up efforts to improve basic data systems and add more digital infrastructure, while accelerating the digital transformation of businesses. Sun Wei, deputy director of the Department of Innovation and High-Tech Development at the National Development and Reform Commission, said action will be taken to “speed […]
Public Sector Banks (PSBs) India’s banks should undertake due diligence and adhere to the regulatory framework by focusing on risk management and diversification of deposits and assets base, the country’s finance minister has said. Speaking in the light of recent high-profile bank failures in Europe and the US, Nirmala Sitharaman’s department has reviewed the performance […]
The Chinese economy is gaining momentum: Zheng Shanjie, head of the National Development and Reform Commission, said the country will focus on employment, industry, investment, consumption, prices, environmental protection and regional development, all of which will support the country’s high-quality development. He said the country will increase spending, expand investment and promoting the construction of […]
Central Bank of Malaysia Needs Structural Changes: The head of the Central Bank of Malaysia is calling on the government to implement key structural reforms to boost growth and protect the economy from future economic shocks. Bank Negara’s Governor, Nor Shamsiah Mohd Yunus, said that the proposed reforms will help Malaysians with the cost of […]
Consumer spending saw double-digit growth across the UAE last year, according to new data from retail and leisure giant Majid Al Futtaim. Its new ‘State of the UAE Retail Economy’ Q4 report, which looks at spending trends in the UAE, found that there was 13% growth in across the retail economy for the full year, […]
Some 63% of Indian workers believe working remotely has not affected their careers, but an equal number believes their career could be hampered if they shunned the office, according to new research by LinkedIn. And almost three-quarters (71%) of Indians say they believe they have to overcompensate when working from home to show that they […]
VAT guidance by the UK authorities The UK tax authority has issued simplified VAT guidance for overseas sellers, with a new translation for Chinese retailers who sell goods online into the country. HMRC’s guidance, called ‘Selling goods using an online marketplace or direct to customers in the UK’, has been translated into simplified Mandarin to […]
A new initiative to support Malaysian start-up companies through venture capital and corporate venture programmes has been launched by Khazanah Nasional. The sovereign wealth fund said its Future Malaysia Programme will benefit from RM6bn (£1.1bn) of investment over five years, funded through its Dana Impak Portfolio, which invests in increasing Malaysia’s economic competitiveness and national […]
