Business & Economy

April 30, 2024 12:08 PM

IMF bailout proved important to save Pakistan from default, PM Sharif says

The disbursement of $1.1 billion by the International Monetary Fund (IMF) will help Pakistan achieve greater economic stability, Prime Minister Shehbaz Sharif said on Tuesday, amid discussions for a new loan programme. The funding was the second and final tranche of Pakistan's $3 billion standby ar...

April 30, 2024 12:54 PM

China’s slow April factory, services activity dents economic momentum

China's manufacturing and services activity both expanded at a slower pace in April, official surveys showed on Tuesday, suggesting some loss of momentum for the world's second-biggest economy at the start of the second quarter. The cooling activity from sizable gains made in March highlights errat...

April 30, 2024 12:56 PM

Nepal Invites Investment in IT and Green Energy

On the second day of the 3rd Nepal Investment Summit, 2024, approval of Investments worth Rs 9.13 billion for four different projects was concluded. The Department of Industry inaugurated the system of foreign investment approval, through the automatic route today. Foreign investors can apply to es...

April 30, 2024 12:58 PM

IMF asks Bangladesh to disclose full report on banks’ financial health

By: Navalsang Parmar The International Monetary Fund (IMF) has asked Bangladesh Bank (BB) to disclose detailed and complete information regarding bad and risky loans in the public interest. A 10-Member IMF delegation is in Dhaka to review the progress before the disbursement of the third instalment...

April 26, 2024 6:12 PM

Dhaka, Bangkok sign five bilateral documents

Bangladesh and Thailand on Friday signed five bilateral documents for visa exemption, cooperation on energy, tourism and customs matters and negotiation of Free Trade Agreement (FTA) between the two countries.   The documents -an agreement, three Memorandums of Understanding (MoUs) and a Letter o...

April 26, 2024 10:12 AM

China must stop aiding Russia if it seeks good relations with West, NATO says

China must stop supporting Russia's war in Ukraine if it wants to enjoy good relations with the West, NATO Secretary-General Jens Stoltenberg said on Thursday, warning Beijing in unusually harsh words it cannot have it both ways. During a visit to Berlin, the chief of the Western military alliance ...

September 16, 2024 5:59 PM

RBI directs Kotak Mahindra Bank to cease issuing fresh credit cards

The Reserve Bank of India has directed Kotak Mahindra Bank to cease issuing fresh credit cards and onboarding new customers through online and mobile banking channels. In a press release, the RBI said that “these actions are necessitated based on significant concerns arising out of the Reserve Ba...

April 24, 2024 11:01 AM

NSE introduces derivatives on Nifty Next 50 from today

The National Stock Exchange of India (NSE) will launch derivatives contracts on Nifty Next 50 Index (NIFTYNXT50) from Wednesday. Securities and Exchange Board of India (SEBI) has approved derivatives on the Nifty Next 50 Index on NSE. Derivative contracts are short-term financial instruments that c...

April 23, 2024 10:31 PM

UK to spend 2.5% of GDP on defence by 2030, says Sunak

Prime Minister Rishi Sunak said on Tuesday he would lift defence spending to 2.5% of GDP a year by 2030, saying the British arms industry must be on a "war footing" when the world is at its most dangerous since the Cold War.   Standing alongside NATO leader Jens Stoltenberg, Sunak said Britain wo...