A day after India’s Adani Group claimed that it would acquire a 51 percent stake in West Container Terminal of Colombo port, Sri Lankan Ports Authority (SLPA) has now said they are "unaware" of such claims
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
KRAS, Indian-Israeli joint venture, rolls out missile kits for Indian forces
Kalyani Rafael Advanced Systems Pvt Ltd. (KRAS), a joint venture between India's Kalyani Group, and Israel's Rafael Advanced Defense Systems, on Tuesday rolled out its first batch of Medium Range Surface to Air Missile (MRSAM) for the Indian Army and the Air Force
India’s Adani group set to acquire 51 % stakes in Sri Lanka’s West Container Terminal
Adani Ports and Special Economic Zone Limited (APSEZ), a subsidiary of India’s Adani group that operates more than a dozen ports in India, is set to acquire 51 percent stakes in the West Container Terminal (WCT) port of the Colombo Port
Pakistan tech startup raises $1.4 mn from Silicon Valley
RemoteBase, a technology start-up based in Islamabad, has raised $1.4 million in investments from Silicon Valley investors, reflecting, what some feel, the growing tech ecosystem of Pakistan
India's FinTech valuation estimated at $150-160B by 2025
The Federation of Indian Chambers of Commerce & Industry (FICCI) and Boston Consulting Group (BCG) on Saturday unveiled 'India FinTech: A USD 100 Billion Opportunity' report
iPhone maker Wistron resumes operations in Karnataka
Apple's iPhone contract manufacturer Wistron Corporation of Taiwan resumed operations at its mobile plant in Karnataka's Kolar town, state Industries Minister Jagadish Shettar said
IPL brand value falls for first time in six years
The brand value of the Indian Premier League (IPL) went down for the first time in six years - by 3.6 per cent over one year
Bangladesh to soon buy 150,000 tonnes of non-basmati boiled rice from India
Bangladesh will procure 1.50 lakh tonnes of rice under direct procurement method (DPM) from India
Maitri Setu: Indian industrialists in Bangladesh eye business expansion in Tripura
A large number of Indian industrialists in Bangladesh turned their eyes to Tripura, after Prime Minister Narendra Modi dedicated the Maitri Setu, a 1.9 km-long double-lane Maitri Setu (friendship bridge) over River Feni, connecting Tripura with Chattogram (Chittagong) seaport on Tuesday
Cairn Energy's taxation dispute with India: Courts in five countries recognise arbitration award
In a major fillip to Cairn Energy, courts in five countries, including the US and the UK, have given recognition to an arbitration award that asked India to return $1.4 billion.
Serum Institute of India confirms timely delivery of vaccines to Sri Lanka
Sri Lankan authorities denied reports of delay in procurement of one million Covishield vaccines from Serum Institute of India and said the vaccines will arrive in the country by March and April
ANSA Merchant Bank acquires Bank of Baroda, Trinidad and Tobago
Trinidad conglomerate ANSA Merchant Bank has finally taken over Bank of Baroda (Trinidad and Tobago) Limited on March 1. The bank will continue to function as Bank of Baroda until month-end
Bhutan's orange export to Bangladesh, India booms
Despite COVID-19, export of oranges have increased by 30 percent this year compared to the previous year, according to Bhutanese exporters
Adani Ports' investment in Sri Lanka's WCT: Indian HC says not involved
Days after the Sri Lanka Cabinet announced the proposal to clear an investment by India’s Adani Ports to jointly develop the West Container Terminal Port in Colombo, Indian High Commission in Sri Lanka said they were not involved in clearing any such proposal
Sri Lanka to develop West Container Terminal with India's Adani Ports
A month after scrapping the 2019 East Container Terminal deal with India and Japan, Sri Lanka has approved a proposal to jointly develop the West Container Terminal of Colombo Port in Sri Lanka with India’s Adani Ports, the Daily Mirror reported
