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.
The Asian Development Bank (ADB) has approved USD 150 million in loans to Bangladesh to finance the cottage, micro, and small-sized enterprises (CMSEs) operated by youth, returning migrant workers, and rural entrepreneurs, particularly women, who have been hit hard by the COVID 19 pandemic
Indian yoga guru Baba Ramdev's Rs 10,000-crore FMCG is making its foray into media and two channels are to be launched Friday in the presence of Nepal Prime Minister Sher Bahadur Deuba and Indian Transport and Highways Minister Nitin Gadkari in Kathmandu
Australia is geared to tap the projected USD 1 trillion Bengaluru-centric India's digital economy by establishing a new Consulate General in Bengaluru, known as India's tech capital
The International Monetary Fund (IMF) has sought an increase in taxes and other reforms from the Pakistan government before reviving its $6 billion bailout package for the country
India’s ‘Neighbourhood First’ foreign policy is finding resonance in industry efforts to ramp up trade and bilateral relations with countries in India’s close proximity
Pakistan needs to do more on the rapid implementation of international human rights conventions, said a senior European Union official, if Islamabad wanted the continuation of its Generalized Status of Preference (GSP) Plus status, a system under which most Pakistani goods enjoy duty-free access to the EU market
If everything goes right, customers in Pakistan’s capital Islamabad may soon be getting their food orders via drones
RRVL, the retail arm of Indian billionaire Mukesh Ambani, has acquired a 100% stake in the Sri Lankan brand amanté from MAS Holdings
Nepal has allowed the import of a few genetically modified crops, partially relaxing the complete ban put eight years ago, amid intense lobbying from the country’s poultry industry
Indian and US defence officials and business people have focused on partnering in space and artificial intelligence at a virtual expo as part of their diversified strategic defence cooperation
Gross domestic product growth of over six percent would hurt Pakistan’s economy, said Shaukat Tareen, a special adviser on finance to Pakistan’s Prime Minister Imran Khan
In what comes as a big relief to Nepal, India has permitted Nepal to sell its surplus electricity in the Indian Energy Exchange marketplace, a move that would help Nepal to avoid huge power wastage
In what is the highest increase for a month, Pakistan’s exports in October registered a growth of 17 percent, touching $2.471 billion against $2.104 billion in the same month last year
Bangladesh is seeking Russian investment to develop the country’s railway infrastructure, said Railway Minister Nurul Islam Sujan amid a push for railway modernization in his country
India and Italy have agreed to explore the development of green hydrogen, setting up renewable energy corridors, and joint projects in the natural gas sector as the two nations sought to strengthen partnership in energy transition
