The manufacturing sector in Nepal, earlier ravaged by the pandemic, has now almost returned to near pre-pandemic levels as the result of a boost in demand due to the festive season and the ramped-up vaccination
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
Apricots from Kargil, once a battleground for India and Pakistan, go global
Fresh apricots from Kargil district in the union territory of Ladakh have for the first time in 35 years found their way to the international market
Moody’s downgrades Maldives rating to Caa1, changes outlook to stable
Despite the significant recovery in the country’s tourism industry, Moody’s downgraded the Maldives’ sovereign rating to Caa1 with a stable outlook from earlier B3, citing the drop in tax revenue collection and other factors
Pakistan asks World Bank to restructure $200 loan
Pakistan has asked the World Bank to finalize its restructuring plan for the $200 million loan which the lender had approved last year for the locust emergency and food security project
Airbnb to support 20,000 Afghan refugees with free accommodation
Airbnb, a San Francisco-based company that operates an online marketplace for lodging, primarily homestays for vacation rentals
Maldives signs deal with India's Afcons for India-funded mega infrastructure project
The Maldives has on Thursday signed a deal with an Indian company for the Greater Male Connectivity Project, the archipelago’s biggest infra project so far costing around $500 million, giving a major boost to connectivity around capital Male
India’s Adani Group to start work on Sri Lanka’s West Container Terminal port by yearend
India’s Adani Ports and Special Economic Zone (APSEZ) will begin construction work on the West Container Terminal (WCT) at Sri Lanka’s Colombo port by yearend, media reports say
Undid a past mistake on corporate taxation, took bold decisions on reforms: PM Modi
The Indian government's move to end retrospective tax signified the undoing of a mistake in made in the past, Prime Minister Narendra Modi said at the annual meeting of the Confederation of Indian Industry or CII
Nepal’s flower industry withers amid pandemic
Prior to the Covid-19 pandemic, the flower industry in Nepal was worth over $20 million
Johnson & Johnson’s single-dose Covid-19 vaccine gets India’s approval - a day after EUA
In a significant step towards boosting its vaccine arsenal, India has given emergency use authorization (EUA) to US pharmaceutical giant Johnson & Johnson's single-dose Covid-19 vaccine in the country
realme to export Make in India smartphones to Nepal
Smartphone maker realme said it will export Make in India smartphones to Nepal from the ongoing third quarter
As China ties sour, ex-Australian PM Tony Abbott to visit India to advance trade relationship
Former Australian Prime Minister Tony Abbott will visit India this month to progress the Indo-Australian economic and trade relationship under the Comprehensive Strategic Partnership
Bangladesh receives USD 20 bn investment proposals for its first planned industrial city
Bangladesh has received investment proposals worth around USD 20.13 billion from 153 investors, including those from China and Japan, for its first planned industrial city which it wants to develop as a world-class business and industrial center
Serum Institute of India to work with industry body CII to spread vaccination in small towns, rural areas
The Confederation of Indian Industry (CII) has entered into an agreement with the Serum Institute of India (SII) to accelerate COVID-19 vaccination in small towns and rural areas in partnership with industry and healthcare providers
India and US to sponsor forum to boost Indo-Pacific business cooperation
As part of their growing Indo-Pacific strategic cooperation, India and the United States are sponsoring a virtual meeting of the Indo-Pacific Business Forum (IPBF) to promote government and business cooperation across the region where China is increasingly playing an assertive role
