India’s central bank is doing the right thing by raising interest rates, and should continue on that path, according to the IMF. “We believe that the tightening stance is appropriate for India in the medium-term, to promote sustainable and stable growth over many years, and not just focus on the next three months,” said the […]
Key economic data for the first two months of 2023 show that China’s economy is stabilizing and beginning to grow, according to the National Bureau of Statistics (NBS). The NBS said that consumer spending, investment and industrial output all rebounded in January and February, with retail sales — a key measurement of consumer confidence — […]
The Dubai tourism ministry has relaunched its carbon calculator tool, enabling businesses in the hospitality sector to measure their carbon footprints. The tool – launched by the Department of Economy and Tourism (DET) as part of the Dubai Sustainable Tourism (DST) initiative – will track real-time data for carbon emission sources, allowing hotels to identify […]
The central bank of India has unveiled its ‘Every Payment Digital’ initiative – part of Digital Payments Awareness Week (DPAW) 2023 – to encourage Indian consumers to use digital payments. The Reserve Bank of India’s (RBI) Governor Shaktikanta Das is appealing to all stakeholders – banks, non-banks, payment system operators and digital payment users, among […]
Accountancy sector revenue in China hits £16bn in 2020 China’s auditing, accountancy sector, and tax services industry achieved revenues of RMB 113.8 billion ($16.4 billion) in 2020. And the number of firms operating in this sector rose from 107,764 in 2015 to 136,200 in 2019, representing a growth rate (CAGR) of 26.3%, according to the […]
The Malaysian government’s re-worked Budget is expected to positively impact the accountancy profession and its services to the economy, the Malaysian Institute of Accountants (MIA) has said. In particular the organisation welcomed: announcement of financial zones. focus on tax measures to diversify tax revenues. measures to further develop and strengthen the sustainability and relevance of […]
India is a “bright spot” in the world economy, and will contribute 15% of global growth in 2023 by itself, according to International Monetary Fund (IMF) Managing Director Kristalina Georgieva. She said prudent fiscal policy and significant financing for capital investments provided in the Budget will help drive growth momentum. “India’s performance has been quite […]
China Multinational corporations in the retail and travel industries say they are optimistic about the prospects for growth in China in 2023. They said their confidence in China is high, as the country had optimized its Covid-19 response measures while consumer demand has rebounded. Norwegian-American cruise line operator Royal Caribbean International said China’s easing of […]
Some 25,600 new economic licences were issued in 2022 by Abu Dhabi, as new figures show the emirate was has the fastest-growing economy in the Middle East North Africa region (MENA). In its 2022 Business Activity Report, the Abu Dhabi Business Centre, part of the Abu Dhabi Department of Economic Development (ADDED), reported the “growth […]
