Indian workers set for 10% pay hike in 2023 Indian workers are expected to receive pay rises of 10% in 2023 as companies struggle to keep and recruit staff, according to global advisory firm Willis Towers Watson (WTW). The company’s Salary Budget Planning report for 2022-23 found that more than half (58%) of employers in […]
Surprise interest rate cuts a boost to China businesses China’s central bank has cut the key medium-term lending facility (MLF) interest rate, indicating that it is willing to lend more support to businesses despite the threat of inflation, leading economists have said. The central bank rate cuts are likely to lead to cuts to the […]
Indian unemployment falls to 6.8% in July Indian unemployment rate fell to 6.8% in July, the lowest level in six months, as farming activity increased during the monsoon season, according to data from the Centre for Monitoring Indian Economy (CMIE). The unemployment rate dropped from 7.8% in June, with rural unemployment declined to 6.14% from […]
Surge in tourism as seven million visit Dubai so far this year Dubai attracted 7.12 million international overnight visitors between January and June 2022, according to latest figures from Dubai’s Department of Economy and Tourism (DET). The data showed a 183% year-on-year growth in visitor numbers, compared with the 2.52 million visitors who travelled to […]
Demand from emerging markets boosts Chinese exports Chinese exports are expected to grow in the coming months as demand picks up from the ASEAN countries (Association of Southeast Asian Nations) and India in particular, new Customs data has indicated. Despite the general slowdown in the world economy, the figures show exports to emerging markets in […]
No point in offering tax breaks to multinational firms Proposed changes to the global tax system will means multinational corporations will no longer be attracted by tax breaks to invest in the country, according to Malaysia’s Inland Revenue Board (IRB). Chief executive officer Mohd Nizom Sairi said the Organisation for Economic Cooperation and Development’s (OECD) […]
Good news for Indian manufacturing sector India’s economy received a boost in July, with a new report showing its manufacturing sector saw sales and production grow at the fastest rate since November 2021. The S&P Global India Manufacturing Purchasing Managers’ (PMI) Index hit 56.4 during the month, up from a nine-month low of 53.9 in […]
Foreign investors continue to show faith in China’s economy Despite the slowdown in growth in the world’s economy China is continuing to attract foreign direct investment, according to the country’s Ministry of Commerce. It said the strength of its supply chains, beefed-up protection of intellectual property rights and a stable domestic market are some of […]
Young Chinese entrepreneurs encouraged to enter digital economy Around 2,000 youth representatives from more than 100 countries attended the recent World Youth Development Forum, according to the Chinese Communist Youth League Central Committee. The forum, entitled ‘For a Shared Future: Promoting Sustainable Development with Youth and for Youth’, took place in cities across the country […]
