Economic conditions
A senior legislator has urged the Philippine government to create a Presidential Task Force on Revenue Projection and Collection, which would help systematically build up tax enforcement and compliance nationwide. The proposal comes as the administration's fiscal reform program is already in place, with the expanded value-added tax
Economic conditions
Kim Woo-choong, the founder of the now-defunct Daewoo Group, will arrive in South Korea on June 14, according to his statement to Yonhap News Agency. He has been living in exile for nearly six years since the conglomerate's bankruptcy in 1999. Kim plans to hold a short press
Economic conditions
Philippine lawmakers from the House of Representatives have voiced their support for President Gloria Macapagal-Arroyo's call to shun dirty politics, focus on the economy, and curb corruption by 50% next year. The lawmakers believe that the government should play a major role in addressing the country's
Economic conditions
The Reserve Bank of India has introduced new regulations enabling Indian banks to provide financial assistance to companies for acquiring equity in overseas joint ventures, subsidiaries, or other companies. This move aims to boost strategic investments by allowing banks to extend loans for acquiring overseas companies, subject to certain conditions.
Economic conditions
South Korean and Japanese tourism ministers have reaffirmed their commitment to enhancing cultural exchanges and tourism cooperation, despite recent tensions in their bilateral relationship. The joint statement, signed by Culture and Tourism Minister Chung Dong-chea and Japanese Minister of Land, Infrastructure, and Transport Kazuo Kitagawa, highlights the importance of promoting
Economic conditions
The International Finance Corporation's Program for Eastern Indonesia SME Assistance (IFC-PENSA) and the Indonesian Regencies Cooperation Agency (BKKSI) have launched a sub-national deregulation program to increase investment potential, generate employment opportunities, and improve economic growth through deregulation. The program aims to assist local administrations in improving the efficiency
Economic conditions
Amid a protracted economic slump in South Korea, local investors are increasingly looking to park their ample funds in overseas investments, as reported by the country's finance ministry. This year, South Korean individuals have made a total of US$246 million worth of overseas investments through April, a
Economic conditions
Australia's Trade Minister Mark Vaile has announced that the country is willing to open up its legal, private health, and construction sectors to greater international competition in the World Trade Organisation's (WTO) services negotiations. This move comes as part of the country's efforts to
Economic conditions
Australian Prime Minister John Howard has unveiled plans to reform the nation's workplace relations laws, with up to 3.6 million workers set to lose protection from unfair dismissal. The proposed changes, which aim to create a single national industrial relations system, would see the exemption of unfair
Economic conditions
Amid renewed discussions on changing the 1987 Philippine Constitution, President Gloria Macapagal Arroyo is expected to announce the form of government she will endorse by mid-year, according to presidential adviser Gabriel Claudio. This development follows the congressional approval of the value-added tax (VAT) bill, a priority revenue-generating proposal of the
Economic conditions
South Korea's finance minister, Han Duck-soo, has reiterated the need to curb property speculation, warning that future rate hikes to control rising housing prices may harm the economy. The minister's comments come as concerns grow that policies aimed at stabilizing the housing market may instead drag
Economic conditions
South Korea's finance minister has announced plans to extend sales tax cuts on passenger cars and other products for an additional six months, as part of efforts to stimulate private spending and help revive the country's economy. The tax reductions were initially implemented in March last
