Economic conditions
The central government is mulling a proposal to grant increased autonomy to state-owned Navratna PSUs, allowing them to invest up to 10% of their net worth for acquisitions and joint ventures without requiring explicit government approval. This move aligns with the government's policy of enhancing functional and commercial
Economic conditions
Taipei's Executive Yuan has given the green light to the 2005 central government budget, which will see NT$1.63 trillion in expenditures and NT$1.4 trillion in revenues. The budget plan, which will be submitted to the Legislative Yuan for approval by the end of this
Economic conditions
Iranian Majlis representatives started debating changes to the 4th Development Plan, which was ratified in May 2004 and is set to take effect in March 2005. The plan aims to address various economic, social, and cultural development goals for the country. The Guardian Council had identified 112 faults with the
Economic conditions
Vietnam's stock market has operated for over four years, with more than 1,500 State-owned enterprises undergoing equitization and over 200 businesses meeting the requirements for listing. However, despite these efforts, the foreign direct investment (FDI) in the country remains low, with foreign indirect investment (FII) accounting for
Economic conditions
As the high oil prices continue to weigh heavily on South Korea's fragile economy, government officials are racing against time to craft measures to address the issue. Analysts warn that the situation may worsen if prices fail to relent, with estimates suggesting that a $5 increase in international
Economic conditions
Australian Foreign Minister Alexander Downer has revealed that a terrorist group, claiming to be al-Qaeda's European branch, has threatened to hit Australia with lines of car bombs in response to the country's involvement in Iraq. The Tawhid Islamic Group, which emerged just last week, has posted
Economic conditions
Finance Minister P Chidambaram has criticized the Bharatiya Janata Party (BJP) for altering its stance on liberalizing foreign direct investment (FDI) in crucial sectors such as insurance, civil aviation, and telecom. In a scathing attack, Chidambaram stated that he finds it easier to convince the Left parties on the FDI
Economic conditions
President Gloria Macapagal Arroyo has outlined a comprehensive economic agenda aimed at creating 6-10 million jobs, balancing the budget, and institutionalizing reforms in the economic and social systems within six years. The agenda, which includes eight legislative measures, is designed to broaden the tax base, improve tax collection efficiency, and
Economic conditions
As the World Trade Organization (WTO) drafts an agreement to cut agricultural tariffs, South Korea is facing pressure to liberalize its rice market, a move that could lead to cheaper imported rice flooding the domestic market and threatening the livelihoods of local farmers. The country's agricultural officials are
Economic conditions
A presidential economic advisory panel in South Korea has emphasized the need for further liberalization and deregulation to boost the competitiveness of the country's service sector. The panel, comprising university professors, business leaders, and top researchers from state-run think tanks, stressed that preventing participation by outsiders is counterproductive
Economic conditions
Finance Minister P Chidambaram addressed the United Progressive Alliance (UPA) general body meeting, clarifying the government's stance on several budgetary proposals amidst criticism. The meeting, attended by key ministers and UPA members, focused on agriculture and rural development, infrastructure, and taxation issues. Chidambaram emphasized the government's
Economic conditions
The Reserve Bank of India (RBI) has issued new prudential norms on capital adequacy-cross holding of capital among banks or financial institutions (FIs), introducing a 10% ceiling on investments by banks or FIs in all types of capital instruments, including equity and preference shares. This move aims to regulate excessive
