India’s cash-starved micro, small and medium-sized enterprises (MSMEs) were given a boost in the recent Indian Budget, with the government improving access to finance and cutting red tape, a government minister has said. B.B. Swain, Secretary to the Union Ministry for Micro, Small and Medium Enterprises, said the improved availability, accessibility and affordability of credit/funds […]
Micro, small and medium-sized enterprises in China “have showed strong resilience and vitality against headwind as local governments pushed to improve their business environment”, a government minister told a forum for national SME development. Vice-minister of industry and information technology Xu Xiaolan said: “The number of major SMEs surged 10.5% in 2022. The combined operating […]
Some 30% of Malaysian citizens say they have ‘burdensome’ debt, according to the Bank Negara Malaysia’s (BNM) Financial Capability and Inclusion Side survey (FCI 2021). BNM’s financial inclusion department director, Nor Rafidz Nazri, said the survey found that in many cases these debts were acquired by people in their youth or during their early working […]
India’s retail inflation rose sharply to 6.52% in January, up from 5.72% in December 2022, according to data from the National Statistical Office (NSO). The figure is above the Reserve Bank of India’s (RBI) upper tolerance level of 6% after two months, and represents a three-month high. The sharp increase suggests that India’s inflation worries […]
Provincial governments across China are looking to boost their local economies by offering businesses a range of tax and fee cuts. A number of provincial-level governments have released their budget reports for this year, pledging that both the effectiveness of their fiscal policy will be enhanced. They say their expenditure will relieve some of the […]
The UAE’s pension rules say hundreds of workers – up to 24% – are missing out on pension payments because of the employment regulations. The UAE’s General Pension and Social Security Authority (GPSSA), a total of 1,461 out of 6,138 eligible Emiratis were not entitled to receive their end-of-service benefits due to terminating their employment […]
The Indian government is set to lift its capital spending annual budget to $550 billion, an increase of 33%, to boost economic growth and create jobs. Announcing the move at the Annual Union Budget 2023, Finance Minister Nirmala Sitharaman said private investment was boosting the economy after the pandemic and the government was focusing on […]
The Chinese government has published plans to boost the economy and promote the high-quality development of Chinese brands across the globe. According to a document jointly issued by the Communist Party of China Central Committee and the State Council, measures will be taken to make improvements to the quality and efficiency of economic development, increase […]
Malaysia’s tie-up with Singapore to boost the countries’ small and medium enterprise (SMEs) and start-ups sectors can be a blueprint for other Asean nations, according to International Trade and Industry Minister Tengku Zafrul Aziz. On the Malaysia-Singapore Framework on Cooperation in Digital and Green Economy, the minister said: “Through this collaboration, Malaysia hopes to learn […]
