ASIA: India on Thursday proposed scrapping a controversial law that taxed companies retrospectively and said it will refund disputed amounts, a move that could potentially settle its multi-billion-dollar tax cases with Cairn Energy and Vodafone. The amendment to the tax law could resolve at least 17 disputes of tax payments amounting to 500 billion rupees […]

ASIA: according to a new ranking, which predicts the Chinese economy will grow faster than India’s over the next decade. The data shows that China was able to increase its ranking despite US tariffs by exporting to other regions. India’s benchmark stock index—the NSE Nifty 50—crossed 16,000 for the first time Tuesday as investors bet […]

ASIA: The Reserve Bank of India’s Monetary Policy Committee began its bi-monthly deliberations today amid expectations of keeping repo and reverse repo rates unchanged on the back of the fear of the third COVID-19 wave. The monetary policy outcome will be announced on Friday, August 6, 2021. Analysts expect MPC to retain the policy interest […]

  ASIA: Singapore recorded its strongest economic growth in 11 years in the second quarter of 2021, rebounding from its worst economic slump on record a year ago due to the Covid-19 pandemic. The Southeast Asian economy surged 14.3% in the second quarter compared with the same period a year ago, according to advance estimates […]

ASIA: China’s government issued new procurement guidelines in May that require up to 100% local content on hundreds of items, including x-ray machines and magnetic resonance imaging equipment, erecting fresh barriers for foreign suppliers, Reuters reported. Document 551 was issued on May 14 by the Chinese Ministry of Finance and the Ministry of Industry and […]

ASIA: A report published by US-based Peterson Institute for International Economics said that China’s purchases of U.S. goods are still falling short of trade agreement levels, even as overall Chinese imports from the U.S. have surged. In January 2020, before the coronavirus pandemic and under former U.S. President Donald Trump, China agreed to buy at […]

ASIA: The International Monetary Fund (IMF) on Tuesday cut India’s gross domestic product (GDP) growth to 9.5% for 2021-22, from its earlier estimate of 12.5%, citing the impact of the second wave on the economy and recovery process.  In its latest update to the World Economic Outlook, the IMF said growth prospects in India have […]

ASIA: The International Monetary Fund (IMF) on Tuesday cut its economic growth forecast for China this year because of the patchy recovery from new coronavirus variants, as Beijing focuses on reducing debt and public investment. The Washington-based organization trimmed China’s gross domestic product (GDP) growth estimate to 8.1 per cent, down from April’s projection of […]

ASIA: Intel Corp said on Monday its factories will start building Qualcomm Inc chips and laid out a roadmap to expand its new foundry business to catch rivals such as Taiwan Semiconductor Manufacturing Co and Samsung Electronics Co Ltd by 2025. Intel said on Monday it expects to regain its lead by 2025 and described […]

ASIA: The disparities in provincial growth across China widened further during the past six months, with the economies in coastal regions surging ahead on the back of increased exports while northern and inland provinces continued lagging behind due to their dependency on slowing government investments, according to data analyzed of new half-year provincial economic data. […]