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A California-based digital transformation solutions company has announced the expansion of the workforce at its Bengaluru center to over 6000 employees
Political stability must for economic recovery, says Pakistan PM; calls for ‘Charter of Economy’
The IMF’s refusal to revive the $6 billion bailout package over the government’s initial refusal to implement austerity measures made things worse for the government. In recent weeks, the Sharif government has reduced fuel subsidies drastically and increased electricity tariffs.
World Bank cuts India’s 2022-23 growth to 7.5%, but will keep top spot; South Asia growth to get affected
In South Asia as a whole, the report said, “The Russian Federation’s invasion of Ukraine has weighed on growth in the South Asia region (SAR) after a solid recovery in the second half of last year and amplified pre-existing vulnerabilities”
Pakistan plans IT park in Karachi to boost exports and create jobs
Significantly, the country’s IT exports are rising and has already crossed over $2 billion in the first eight months of the current financial year. In 2021, the Overseas Investor Chamber of Commerce and Industry (OICCI) said in its report that the country had the potential of $10 billion in annual IT exports.
Power-surplus Nepal hopes to earn $100 million from electricity exports to India
From Thursday this week, Nepal started selling electricity, around 37 MW to Indian buyers, Nepal Electricity Corporation spokesperson Suresh Bhattarai confirmed to The Kathmandu Post. More bids are invited to sell 200 MW in India’s power exchange market on a long-term basis.
More on Economy-Business
Under Taliban, Afghan economy has all but collapsed, thousands of businesses shut down; middle class has vanished
In August this year, the Taliban seized power in Afghanistan, ignoring the warning from the international community against the forceful seizure of power
Parag Agarwal joins array of Indian-origin tech leaders in the US corporate world
Twitter has appointed Indian American Parag Aggarwal, who has pledged to “reshape the future of public conversation,” as its CEO succeeding Jack Dorsey, the embattled social media company announced on Monday
Indian IT major HCL opens new office for 4000 employees in Colombo
Indian IT major HCL Technologies (HCL) opened a grand new office in the Sri Lankan capital at the state-of-the-art Cinnamon Life complex
Boost for Indian exports: US dropping punitive tariff after deal on digital services tax
With the two countries reaching an "overall political agreement", the US has decided to drop the proposed 25 per cent additional duties on more than 25 Indian exports ranging from shrimps and basmati rice to gold jewellery and furniture following a settlement of the dispute over the Digital Services Tax (DST) imposed by New Delhi on some giant American companies
Record sale of bikes in Pakistan as rural areas thriving, claims minister, blaming inflation, not poverty, for citizens' affordability problems
Pakistan's rural areas are "thriving" due to bumper crops leading to "record sales of motorcycles", said Shaukat Tarin, Advisor to Prime Minister on Finance and Revenue, citing World Bank's latest data showing a drop in Pakistan's poverty level by 1 per cent
Pakistan, Russia to close deal on Pakistan Stream Gas Pipeline
Islamabad and Moscow have agreed on a draft of the shareholders' agreement for construction of the Pakistan Stream Gas Pipeline project and are set to sign the accord by February 15, 2022, the Pakistani Embassy in Moscow said on Friday
Ballooning trade deficit forced government to approach IMF, says Pakistan PM
The ballooning trade deficit has compelled the government to go to the International Monetary Fund (IMF), Pakistan Prime Minister Imran Khan said, days after the IMF and the government reached a staff-level understanding for the revival of the $6 billion bailout package
India extends additional $15 mn grant for Greater Male Connectivity Project
India has extended an additional US$15 million for the construction of the Thila-Male Bridge, a 6.74 km-long bridge and causeway link between Male and nearby islands of Villingli, Gulhifalhu and Thilafushi
Tata Steel executes inaugural blockchain-enabled trade between India and Bangladesh
Tata Steel has executed a blockchain-enabled paperless export order with a metals major in Bangladesh
India, US to integrate economies, sort out trade irritants
India and the United States on Tuesday outlined a roadmap for integrating the two economies across sectors and move towards an ambitious future for trade relations
World Bank loan for India to improve quality of learning in Andhra Pradesh
India has signed a US$ 250 million loan agreement with the World Bank to improve the quality of learning for over five million students across Andhra Pradesh state in southern India
Indian firm CARS24 signs major property deal in Dubai
The Jebel Ali Free Zone in Dubai has seen one of the biggest deals signed for commercial property in recent times, with Indian firm CARS24 leasing one million square feet facility
IMF likely to revive $6 billion bailout package to Pakistan soon; relief for country's economy
The International Monetary Fund (IMF) and the Pakistan government have reached a staff-level agreement for the revival of the $6 billion Extended Fund Facility (EFF) which has been stalled due to the pending review since April this year, the global lender said on Monday
India could gain from VC investment flows in edtech, fintech as China investment slows: KPMG report
Shifting regulations targeting specific sectors like edtech and fintech in China could drive venture capital investments in other parts of Asia and India would have a lot to gain going forward in the October to December (Q4) quarter of 2021, as VC investment is likely to remain slow in a number of sectors in China, UNI news agency said
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