The Chinese government is to introduce new legislation to address lingering concerns among private firms while creating a fair and predictable business environment. Its recently released draft proposal outlines how it intends to promote the private sector in an attempt to revive business confidence that have lingered since the global post-Covid economic slowdown. The private-economy […]
Finance professionals and members of the public have been invited to make suggestions for a review of the Income-Tax Act, which was announced in this year’s Budget. The Union finance ministry said comments were sought in four categories: simplifying the language, litigation reduction, compliance lessening, and redundant/obsolete provisions. The Central Board of Direct Taxes (CBDT), […]
A sustained focus on supporting innovation in emerging sectors, future industries and traditional industries should be high on the agenda as China advances its economic structural reforms, according to leading economists and entrepreneurs. Huang Hanquan, head of the Chinese Academy of Macroeconomic Research, said that fostering high-quality production was of vital importance in promoting sustainable […]
Almost RM3.2 billion (£580m) was lost to online scams involving more than 95,800 victims between 2021 and April 2024, the government’s Digital Minister Gobind Singh Deo has said. But he added that the figure could be higher as many victims may not have reported crimes against them to the authorities. “Cases related to phishing, fraud […]
While India is experiencing 7% economic growth, the government needs to do more to boost the creation of more jobs, according to the Reserve Bank’s of India’s (RBI) former governor Raghuram Rajan, who has suggested focus needs to be on promoting labour-intensive industries. Rajan, now a professor of finance at US-based Chicago Booth, also said […]
Private sector firms in the UAE are being warned by the government that if they don’t hire Emirati workers they face fines of up to $29,000. The Ministry of Human Resources and Emiratisation (MoHRE) – which is looking to expand the Emiratisation scheme to larger industry base – has urged private sector companies employing 20 […]
The Indian government’s attempt to create a cleaner and fairer economy have been boosted by the signing of a set of agreements with the 14-member IPEF (Indo-Pacific Economic Framework for Prosperity) bloc. The agreements are designed to help facilitate development, access and deployment of clean energy and climate-friendly technologies; boost investment; strengthen measures around anti-corruption […]
China’s State Council has issued a 24-point set of guidelines to prioritise job creation and prevent the risk of large-scale unemployment. The country’s cabinet said employment was a top priority for economic and social development, pledging coordinated fiscal, monetary, industrial, price and employment polices to help China meet its full-year growth target. The guidelines offered […]
China’s trade in services is set to become a key driver of economic growth in the Asia-Pacific region and the key to attracting foreign investment, according to the country’s top economists and business leaders. In particular, the services driving this growth include transportation, tourism, telecommunications, advertising, education, computing and accounting. Long Guoqiang, vice-president of the […]
