Economic conditions
Treasurer Peter Costello has expressed enthusiasm to meet with U2 frontman Bono at the G20 summit in Melbourne, despite Prime Minister John Howard's decision to decline a meeting with the Irish activist. Poverty is a key issue being addressed at the summit, which has drawn violent protests in
Economic conditions
Financial experts have welcomed the suggestion from a top tax official that China may raise the consumption tax on luxury items to boost its role in fighting poverty. According to Wang Li, deputy head of the State Administration of Taxation, the country is considering further increasing its tax rate on
Economic conditions
As the Asia Pacific Economic Cooperation (APEC) summit continues in Vietnam, Australia is actively seeking to engage developing member nations in addressing the pressing issue of global warming. Australian Prime Minister John Howard and Foreign Minister Alexander Downer are pushing for a variety of key initiatives, including an international carbon
Economic conditions
President Gloria Macapagal-Arroyo stated that the latest sovereign credit rating upgrade of the Philippines by Moody's Investors Service is a significant vote of confidence in the economic reforms she has undertaken since taking office in 2001. The upgrade reflects progress in reining in fiscal deficit and reduced dependence
Economic conditions
The Philippine Chamber of Commerce and Industry (PCCI) has expressed full support for the implementation of the Japan-Philippines Economic Partnership Agreement (JPEPA). According to PCCI president Donald Dee, the Philippines has a solid legal framework to address concerns over the entry of toxic substances and hazardous wastes, including municipal wastes,
Economic conditions
Philippine administration Senator Juan Ponce Enrile has appealed to his colleagues in Congress to expedite the passage of Senate Bill No. 1197, which aims to increase personal and additional exemptions from individual income tax. Enrile's bill proposes to raise the basic personal exemption from P20,000 to P48,
Economic conditions
The China Financial Futures Exchange has recently published four documents outlining the trading rules and regulations for its new stock index futures contract. The exchange, which focuses on financial derivatives trade, has introduced a new contract for the Shanghai and Shenzhen 300 Stock Index Futures. The contract will have a
Economic conditions
South Korea's Bank of Korea (BOK) retained its key interest rate at 4.5 per cent in October, despite economic growth concerns and North Korea's announcement of a first nuclear test. Analysts had unanimously predicted the rate freeze, citing the potential impact of the nuclear test
Economic conditions
Thailand's newly formed cabinet has called for urgent action to address concerns about the country's image among foreign tourists and investors, following a series of glitches in the baggage handling system at Suvarnabhumi Airport, including a major incident on October 7 that left 6,700 bags
Economic conditions
Companies in Vietnam are speeding up the listing process on the stock market to take advantage of a tax incentive that will expire at the end of the year. The Ministry of Finance has announced that the tax break, which provides a 50% reduction in corporate income tax for two
Economic conditions
China's Vice Minister of Finance, Zhu Zhigang, announced the government's consideration of offering preferential tax policies to support small and medium-sized companies (SMEs) with low profit margins. SMEs create a significant number of employment opportunities and drive innovation, but face challenges in capital and information. The
Economic conditions
Japan's Liberal Democratic Party is struggling to agree on the length of time it will take to lower the maximum interest rate on consumer loans and the exceptions that will permit rates above the cap. The party aims to lower the maximum rate to 15-20% by abolishing the
