Economic conditions
Growing discord between the South Korean administration and the ruling Uri Party over economic policies threatens to undermine the country's credibility, analysts warned. The rift stems from differing opinions on how to revive the flagging economy, including disagreements over income tax cuts and the role of the wealthy
Economic conditions
South Korea's main opposition Grand National Party (GNP) has accused the government and ruling Uri Party of pushing a "risky" pump-priming measure, worth around $9 billion, to stimulate the economy. The GNP argues that the plan will transfer a greater debt burden to future generations and
Economic conditions
The South Korean government plans to inject 2 trillion won (approximately US$1.8 billion) into five information-technology (IT) projects as part of its efforts to revitalize the economy. The massive investment will be used to upgrade the national disaster management system, promote automobile information services, and support various other
Economic conditions
South Korea's economy has earned the respect of foreign investors, who are increasingly confident in its financial stability. The risk premium on the country's five-year currency stabilization bonds has dropped to a record low of 5 basis points over U.S. Treasury bonds, down from 355
Economic conditions
The US-ASEAN Business Council has expressed its full confidence in the leadership of President Gloria Macapagal-Arroyo and her commitment to reforms that are expected to strengthen the business climate in the Philippines. The Council's acting president, Walter Lohman, stated that business interest in the Philippines is growing, and
Banking industry
The Philippine government has unveiled a plan to promote technology-based entrepreneurship as a key strategy to improve the country's economy and create jobs for Filipinos. According to the 2004-2010 Medium-Term Philippine Development Plan (MTPDP), the government aims to develop a critical mass of scientists and researchers to enhance
Banking industry
The South Korean government has announced that it will ease regulations on private equity funds, allowing local companies to set up their own funds and potentially disrupt the dominance of foreign players in the market. Starting from December 6, South Korean companies will be able to establish private equity funds,
Economic conditions
Vietnam has taken significant steps to create a business-friendly environment by implementing a simplified and accelerated process for foreign investors seeking to establish operations in Ho Chi Minh City. In accordance with a decision signed by Nguyen Huu Tin, the deputy chairman of the Ho Chi Minh City People'
Economic conditions
Prime Minister Manmohan Singh has pledged to strengthen economic ties with Southeast Asia, China, and Japan, in line with India's "Look East" policy. During a meeting with Asian Development Bank (ADB) president Tadao Chino, Singh emphasized India's commitment to greater economic cooperation with the
Economic conditions
The Indian government is set to introduce legislation that will allow for the creation of special economic zones, including biotechnology parks and free trade warehouses, with 100% foreign direct investment. Commerce and Industry Minister Nath announced plans to introduce the legislation during a discussion with entrepreneurs, with the aim of
Economic conditions
Indonesia is facing a significant debt crisis, with total foreign and domestic debts exceeding US$700 billion. The Anti-Debt Coalition (KAU), a collective of mass and non-governmental organizations, has urged the next government to seek debt forgiveness and prioritize the welfare of the people. The KAU has called on President-elect
Economic conditions
Indian Finance Minister P Chidambaram has announced the government's intention to raise the foreign direct investment (FDI) cap in key sectors, including civil aviation, telecom, and insurance, to attract more foreign investment. The move is part of the government's efforts to boost economic reforms and liberalization.
