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It wasn’t long ago when Nepal used to be on the list of the countries with the highest power outages
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
Moody’s downgrades Sri Lanka’s sovereign rating; Central Bank calls it 'untimely'
Moody’s Investors Service has downgraded Sri Lanka’s sovereign rating, taking the country’s credit deeper into speculative-grade as foreign reserves continued to fall amid money printing and crippled forex markets
Crisis-hit Sri Lanka's budget expected to be one of the 'trickiest' in history
In an indication that Sri Lanka’s financial woes are far from over, a senior economist has said the country’s 2022 budget will not be able to provide relief to the public given the shaky nature of the budgetary management and lack of sources to finance it
Saudi Arabia announces USD 4.2 bn bailout for cash-strapped Pakistan
Saudi Arabia has agreed to revive its financial support to Pakistan, including about USD 3 billion in safe deposits and USD 1.2bn to USD 1.5bn worth of oil supplies on deferred payments, officials said
Maldives calls on international experts to promote its blue economy
The Maldives has a great scope for collaborating with international experts to promote its blue economy, President Ibrahim Mohammed Solih said on Tuesday as the country looks to promote other sectors to reduce its dependence on tourism
India’s Adani group considering investment in Sri Lanka’s renewable energy sector
India's Adani Group, which has recently been awarded the contract to develop and run Sri Lanka’s strategic Western Container Terminal of Colombo Port, is also exploring the possibility of investing in the country’s renewable energy and wind sector
Pakistan’s economic recovery to be hit by continued FATF grey listing
The Financial Action Task Force, a Paris-based global anti-terror watchdog, has retained Pakistan on its Grey List, also known as the Enhanced Monitoring List, and asked the country to do more "to investigate and prosecute" senior leaders and commanders from the UN-designated terror groups
Dubai to develop infrastructure in Jammu and Kashmir
In a powerful signal, Dubai has signed an agreement to build infrastructure in Jammu and Kashmir even as the Kashmir valley sees a resurgence in violence and targeted attacks against religious minorities and security forces
Sri Lanka to seek $500 million credit line from India amid deepening forex crisis
Sri Lanka is expected to sign for a $500 million credit line facility with India as it suffers a severe forex crisis and is unable to pay for energy imports beyond January next year. Energy secretaries of both countries are expected to sign a deal soon, said Sri Lankan Finance Secretary S R Attygalle
'Biden admin, US companies welcomed India's economic reforms'
India’s Finance Minister Nirmala Sitharaman has said the Biden Administration and leaders from the corporate sector in the US have welcomed recent economic reforms introduced by the government of Prime Minister Narendra Modi
Satya Nadella and Microsoft's leadership team gets 2021 C.K. Prahalad Award for Global Business Sustainability Leadership
Microsoft's leadership team, including its Indian American CEO Satya Nadella, were given the 2021 C.K. Prahalad Award for Global Business Sustainability Leadership at an event in Austin, Texas
Army veteran entrepreneur produces much-needed arms and equipment for Indian armed forces
Alpha Design Technologies has already indigenously manufactured and supplied equipment for a wide range of tanks, missiles, helicopters and various weapons and is indigenously developing Software Defined Radios (SDRs)
India's Adani Ports says no to cargo from Iran, Pak, Afghanistan
Adani Ports, India's largest private multi-port operator, has said that the terminals it runs will not handle cargo from Iran, Afghanistan and Pakistan starting November 15
Air India goes back to the Tatas as a private airline
After years of speculation, Tata Sons have finally won the bid to re-acquire national carrier Air India
World Bank South Asia report: Region to grow by 7.1 percent; India by 8.3 percent, Bangladesh 6.4 in 20-21; Maldives by 22.3 percent
The South Asia region is estimated to grow by 7.1 percent in the year 2021-22 amid the global surge in demand and targeted measures to contain the pandemic, the World Bank said in its latest report, adding the recovery, however, remains “fragile” and “uneven” across the countries in the region
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