The Indian government’s management of inflation has been “particularly noteworthy”, in contrast with many advanced economies, according to the latest Economic Survey 2022-23, published by the Finance Ministry, Government of India. It said that in 2023-24 (FY24), the challenge of controlling inflation is expected to be “less stiff” than it was in FY23. “Due to […]
China’s economic growth is set to grow by 5.2% in 2023, according to the International Monetary Fund, up 0.8 percentage points on its projection in October 2022. The IMF said in its World Economic Outlook Update that the country’s recent reopening from Covid restrictions has paved the way for a faster-than-expected recovery. Pent-up demand also […]
UAE’s new corporate tax rate of 9% for taxable business profits exceeding AED375,000 ($102,000) is set to come into effect for financial years starting 1 June 2023. Companies with a taxable income below AED375,000 will not pay the tax. Some corporate entities are exempt, including: Government entities. Government controlled entities. People engaged in an extractive […]
Almost six in 10 of Indian CxOs (senior executives) believe climate change is among the top three priorities for their company going forward, compared with 42% of their global counterparts, according to a new study. Deloitte’s 2023 CxO Sustainability report also found that 81% of Indian CxOs said they have increased sustainability investments in 2022 […]
China’s digital economy is expected to be worth more than 60 trillion yuan ($8.84 trillion) by 2025, according to a forecast by the China Academy of Information and Communications Technology, a government think tank. Shanghai and provinces such as Zhejiang, Fujian and Hebei have all set out their economic development plans for this year, prioritizing […]
It will be too soon to reintroduce the Goods and Services Tax (GST) in the February’s Budget 2023, as consumers and businesses will need more time to make the necessary preparations, according to Islamic Bank Malaysia. Chief economist Firdaos Rosli said that while there is “no wrong or right time” to bring back GST, he […]
The governor of India’s central bank, the Reserve Bank of India (RBI), has called for a ban on all cryptocurrency, saying they “will undermine the authority of the RBI and lead to the dollarization of the economy”. Speaking at a recent economic conference, Shaktikanta Das stressed that the central bank’s view is to completely ban […]
Growth in China’s economy slowed in the fourth quarter of 2022, with GDP growing by 2.9% in October-December from a year earlier, according to data from the National Bureau of Statistics (NBS). While slower than the third-quarter’s 3.9% growth, the rate still exceeded second-quarter expansion of 0.4% and market expectations of a 1.8% gain. The […]
The Dubai government has launched the Dubai Economic Agenda ‘D33’ initiative, which aims to double the size of the emirate’s economy over the next decade and consolidate its position among the top three global cities. At the launch, Vice President, Prime Minister and Ruler of Dubai Mohammed bin Rashid Al Maktoum said the 10-year strategy […]
