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.
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”
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.
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.
India's Home Minister Amit Shah on Thursday said the country needed to expand trade with the neighbouring countries as in the next ten years it would be among the top manufacturing countries. He, however, did not specify the countries
Sri Lanka will seek support from the International Monetary Fund (IMF), President Gotabaya Rajapaksa announced in a rare speech on Wednesday, where he acknowledged, for the first time, “sufferings” and “difficulties” faced by people as the island country faces one of its worst economic crises
Accounting for under 3 per cent, Russia is not a major supplier of oil to India, which gets most of it from the Middle East, while the US is also emerging as an important source for energy products
Dhaka has also been exploring trilateral cooperation in power sectors among India-Bhutan-Bangladesh and Nepal-India-Bangladesh
A new study conducted by the International Financial Corporation (IFC) and Dhaka Stock Exchange (DSE) puts Bangladesh at the top in South Asia when it comes to women’s leadership in listed firms. In 2021, women directors in listed firms were around six percent in comparison to five percent in 2020 when the Covid-19 pandemic hit the world.
Sri Lanka last week signed a deal with India’s Adani Group, awarding the latter two mega renewable power projects in the northern part of the country, as Colombo faces its worst power crisis, primarily caused by the foreign exchange crisis, in decades
Amidst the Ukraine war, Indian exporters are worried about exports and have seen an early trend in declining orders for engineering goods and apparels
Despite the Russia-Ukraine war that has sent oil prices skyrocketing, there will be no shortage of crude oil in India, even though the country imports the bulk of its energy requirements, Petroleum and Natural Gas Minister Hardeep Singh Puri assured
Indian External Minister S Jaishankar and Sri Lankan Finance Minister Basil Rajapaksa held a telephonic conversation and the former assured that New Delhi will continue to assist the island country which has been going through perhaps its worst economic crises
In a further intent of their deepening ties and optimising bilateral connectivty, India and Bangladesh will conduct a joint study on Comprehensive Economic Partnership Agreement (CEPA) at a commerce secretary-level talks on Friday, according to an official statement
Contrary to the Taliban’s previous assurances on banning poppy cultivation, the group this year seems to be actively encouraging opium production
Sri Lankan energy crisis, primarily caused by the severe foreign exchange shortage, has reached a dangerous level this week as the country struggles to manage multiple interlinked crises, forcing authorities to ration both electricity and fuel
The ongoing war in Ukraine will significantly impact the tourism industry, said Maldives’ Tourism Minister Abdullah Mausoom, as tourists from Russia and Ukraine, the two countries at war now, comprise almost 20 percent of the country’s total tourists
Sri Lankan officials are expected to hold talks with the International Monetary Fund (IMF) and the World Bank for support as Colombo faces a severe economic crisis, including a shortage of fuel and essentials
The World Bank has approved a proposal to provide $300 million to Bangladesh to help strengthen its local governance against the pandemic shock and make them resilient to future shocks
