Changes in Indian GST e-invoice rules now in place The Indian government has cut the threshold for mandatory issuing of e-invoices for businesses from INR 500 million ($6.6m) annual turnover to INR 200 million ($2.64m). This is expected to affect smaller firms, who will now have to mandatorily issue electronic invoices. And India’s Central Board […]
Malaysia looking to improving cybersecurity as cybercrime rises Malaysia has experienced a huge rise in online crime, with cases of cyberbullying, fraud, phishing and email scams almost doubling, the latest figures show. Home Minister Hamzah Zainudin said that in 2019 around 13,000 cybercrime cases were reported involving total losses of RM539 million ($128 million), with […]
70% of UAE firms see hybrid working as the future Nearly seven in 10 UAE-based organisations believe that they will lose staff and will be unable to attract new talent if they don’t address their hybrid work processes and plans, according to a new report released by US communications company Poly. The study – […]
Minimum wage hike draws industry criticism The minimum wage in Malaysia is to rise to RM1,500 a month ($355) and will be implemented nationwide for most companies from 1 May, Prime Minister Ismail Sabri Yaakob has confirmed. Initially, the new minimum wage will apply to bigger firms and government-linked companies, he said, adding that micro […]
Ukraine invasion puts pressure on Indian banks Indian banks are likely to come under pressure as the Russia-Ukraine crisis rumbles on, which could lead to higher inflation and some stress for borrowers, according to S&P Global Ratings. Company analyst Deepali Seth Chhabria said: “The outlook on Indian banks continue[s] to remain stable but pockets of […]
New survey reveals scale of Chinese investment in UK Some 845 Chinese-owned companies filed audited accounts in the UK in at least one of the last two financial years, compared with 838 in the 2020, annual research by accountancy firm Grant Thornton has found. Now in its ninth year, the firm’s Tou Ying Tracker for […]
UAE banks launch initiative to boost SME sector A new initiative to help small and medium sized enterprises – called the Nationwide SME Campaign – has been launched by the UAE Banks Federation (UBF). The campaign will help SMEs to growth their businesses, and “is especially important given the sizeable impact that these firms […]
Malaysia targets recovery effort on areas hardest hit by Covid-19 As it enters the endemic phase of Covid-19, Malaysia still has a long way to go to reverse the damage from the pandemic that caused deep recession in 2020. That’s the view of National Recovery Council (NRC) chief Muhyiddin Yassin, who told The Straits Times […]
Chinese Premier promises government action to protect the economy Chinese Premier Li Keqiang has set out the government’s priorities as the economy faces downward pressure and increasing challenges from world economic and geopolitical factors and a rising number of Covid-19 cases at home. He told an executive meeting of the State Council that prevention and […]
