Business Standard

Asia economy

Pakistan secures new $7 billion loan from IMF offering breather for govt

The new 37-month deal, which will be Pakistan's 25th since independence, comes as the country faces loan repayments of about $24 billion this fiscal year, which started July 1

Pakistan secures new $7 billion loan from IMF offering breather for govt
Updated On : 13 Jul 2024 | 9:44 AM IST

Asian shares edge higher, markets hope for dovish stance from Powell

Chinese blue chips edged up 0.1%, while Hong Kong's Hang Seng index was flat

Asian shares edge higher, markets hope for dovish stance from Powell
Updated On : 09 Jul 2024 | 9:48 AM IST

Asia's factory activity expands in June on solid momentum in global economy

The surveys show how Chinese firms are ramping up production despite weak domestic demand, which Beijing has failed to reverse with a rescue package for an ailing property sector

Asia's factory activity expands in June on solid momentum in global economy
Updated On : 01 Jul 2024 | 11:43 AM IST

China's June new home prices rise at slowest pace in five months: Survey

The value of new home sales at China's top 100 real estate companies slid 41.6% in January-June from the same period a year ago

China's June new home prices rise at slowest pace in five months: Survey
Updated On : 01 Jul 2024 | 9:35 AM IST

Pak Parliament passes tax-laden budget ahead of talks on fresh IMF loan

Pakistan is in talks with the IMF for a loan of $6 billion to $8 billion

Pak Parliament passes tax-laden budget ahead of talks on fresh IMF loan
Updated On : 28 Jun 2024 | 2:58 PM IST

Self-confident Asia charts its own course, diversifies ties beyond West

Desire to make an Asia for Asians, without the overbearing influence of the West, is not new

Self-confident Asia charts its own course, diversifies ties beyond West
Updated On : 25 Jun 2024 | 8:43 AM IST

Pak govt announces Rs 10.20 reduction in petrol price ahead of Eid ul Adha

In a major relief for inflation-hit masses in cash-strapped Pakistan, the government has slashed the prices of petrol and high-speed diesel (HSD) by Rs 10.20 and Rs 2.33 per litre respectively ahead of the Eid ul Adha festival. The price cut, effective from Saturday, will bring the price of petrol to Rs 258.16 per litre while the price of HSD will be Rs 267.89 per litre, The Express Tribune newspaper quoted a statement from the Prime Minister's Office on Friday. The Finance Division, which usually reviews the fuel prices every 15 days, issued an official notification for the latest price cuts and said the new prices would be applicable for the next fortnight. The notification said that the Oil and Gas Regulatory Authority (Ogra) had worked out the consumer prices, based on the price variations in the international market. The move to slash the prices of petroleum would benefit the Pakistani people who have been hit by double-digit inflation. Pakistan has been hit by inflation of ab

Pak govt announces Rs 10.20 reduction in petrol price ahead of Eid ul Adha
Updated On : 15 Jun 2024 | 3:06 PM IST

Pakistan budget sets big tax target of $46.66 bn ahead of IMF talks

Pakistan has projected a sharp drop in its fiscal deficit for the new financial year to 5.9% of GDP, from an upwardly revised estimate of 7.4% for the current year

Pakistan budget sets big tax target of $46.66 bn ahead of IMF talks
Updated On : 13 Jun 2024 | 10:50 AM IST

Sri Lanka has made 'strong progress' on debt restructuring front, says IMF

Sri Lanka's macroeconomic policy reforms have started to "bear fruit" and the country is expected to reach agreements with external commercial creditors soon, the IMF has said ahead of the second review of it's USD 2.9 billion bailout programme to the cash-strapped country. Addressing a press conference on Friday, International Monetary Fund (IMF) Communication Department Director Julie Kozack asserted that Sri Lanka has made "sufficiently strong progress on the debt restructuring front". She said that the island nation's programme performance is "strong", with most quantitative and structural conditionality for the second review met or implemented with delay, adding that reforms are still ongoing in some areas. The second review of the IMF's Extended Fund Facility under the USD 2.9 billion bailout of Sri Lanka has been set for June 12. Kozack confirmed that the IMF's Executive Board will meet to discuss the second review and the Article IV Consultation. Under Article IV of the IM

Sri Lanka has made 'strong progress' on debt restructuring front, says IMF
Updated On : 08 Jun 2024 | 2:00 PM IST

Japanese govt launches dating apps as birth rates hit record lows

A stable population demands a fertility rate of 2.1. Yet, Japan has struggled to meet this benchmark for over five decades, a trend exacerbated by the 1973 oil crisis

Japanese govt launches dating apps as birth rates hit record lows
Updated On : 08 Jun 2024 | 1:57 PM IST

Extreme temperatures across Asia push LNG imports to record highs

While China may still see lower demand compared with its record breaking shipments in 2021, demand from India and the rest of Asia has compensated for any drop-off, an expert said

Extreme temperatures across Asia push LNG imports to record highs
Updated On : 31 May 2024 | 2:31 PM IST

Higher US bond yields push Yen to 4-week low ahead of key inflation data

The Aussie dollar was down 0.47% at $0.6618, even after Australian consumer price inflation unexpectedly rose to a five-month high in April

Higher US bond yields push Yen to 4-week low ahead of key inflation data
Updated On : 30 May 2024 | 7:31 AM IST

BOJ to proceed cautiously with inflation targeting frameworks: Ueda

'While many of the challenges we face are similar to those encountered by our counterparts, some are uniquely difficult for us,' the BOJ chief added

BOJ to proceed cautiously with inflation targeting frameworks: Ueda
Updated On : 27 May 2024 | 9:51 AM IST

Nomura gives 150% salary hike to its top executives as earnings boom

The moves come after the Japanese firm spent several years improving risk controls after losing almost $3 billion in 2021 on the collapse of investment firm Archegos Capital Management

Nomura gives 150% salary hike to its top executives as earnings boom
Updated On : 24 May 2024 | 9:46 AM IST

Tourism's share in global GDP to return to pre-Covid levels this year: WEF

India soars to 39th, sole South Asian nation in top 50: WEF

Tourism's share in global GDP to return to pre-Covid levels this year: WEF
Updated On : 21 May 2024 | 10:14 PM IST

BOJ may face more pressure to hike rates amid declining consumer spending

The yen has depreciated by roughly 10% against the dollar so far this year despite the BOJ's decision in March to end eight years of negative rates

BOJ may face more pressure to hike rates amid declining consumer spending
Updated On : 17 May 2024 | 12:56 PM IST

IMF issues warning of significant downside risks for Pakistan's economy

This uncertainty, it warns, could have profound effects on policymaking, particularly given the high cost of living and other political complexities

IMF issues warning of significant downside risks for Pakistan's economy
Updated On : 11 May 2024 | 9:56 AM IST

China's exports and imports return to growth, signalling demand recovery

Shipments from China grew 1.5% year-on-year last month

China's exports and imports return to growth, signalling demand recovery
Updated On : 10 May 2024 | 1:15 AM IST

Asia stocks slip, dollar up as policymakers give mixed signals on rate cuts

Crude oil wallowed near two-month lows amid signs of easing supply pressure and continued hopes for a Middle East ceasefire

Asia stocks slip, dollar up as policymakers give mixed signals on rate cuts
Updated On : 08 May 2024 | 1:01 PM IST

Japan describes US President Biden's 'xenophobia' comment as regrettable

Last week Biden said "xenophobia" in economies from China to Japan and India was hobbling their growth, while arguing at a Washington fund-raising event that migration has been good for the US

Japan describes US President Biden's 'xenophobia' comment as regrettable
Updated On : 07 May 2024 | 2:02 PM IST