Ministry of Finance

Who Are Asia's Money Masters?

As we all know, large banks hold enormous power in today’s competitive world of global finance. Their influence may spread across many nations, but they’re not the true captains. The real masters of world economics are central banks and global banks, like the International Monetary Fund (IMF) and …

Economy

Nigeria: Buhari Inaugurates Committee to Audit Recovered Loot

Buhari inaugurates committee to audit recovered loot.<p>President Muhammadu Buhari on Wednesday inaugurated a three-member committee to audit all assets …

Nigeria

China to sell 7 bln yuan dim sum bonds in Hong Kong next week

HONG KONG, Nov 22 (Reuters) - China’s Ministry of Finance said on Wednesday it planned to sell 7 billion yuan ($1.06 billion) dim sum bonds in Hong Kong next week.<p>The finance ministry has issued dim sum bonds in Hong Kong annually since 2009 to boost the development of the offshore market. It sold …

China

Pakistan rejects use of Chinese currency

<b>ISLAMABAD:</b> Pakistan has turned down China’s demand to allow its currency to be used in the Gwadar Free Zone under the China-Pakistan Economic …

China

Blue-chip gains help shares end higher

SHANGHAI stocks rose yesterday on gains made by blue-chips and investors were cheered that state-owned enterprises’ revenue and profit grew steadily …

News (China)

SOEs achieve 25% rise in profits

STATE-OWNED enterprises posted a 24.6 percent rise in profits in the first 10 months of the year, driven by the metal, coal, and petrochemical …

News (China)

AFTER GIVING EXCUSES GALORE, SHAMEFUL NAJIB NOW THICK-SKINNED ENOUGH TO BLAME COPS FOR HIS FAILURE TO TABLE 1MDB’S LONG-OVERDUE FINANCIAL REPORTS

KUALA LUMPUR -The Ministry of Finance cannot determine when 1Malaysia Development Bhd’s (1MDB) reports for its 2015 and 2016 financial years can be …

Kuala Lumpur

Only eight majority foreign-owned firms close operations in Jan-Oct - MoF

KUALA LUMPUR: The Ministry of Finance (MoF) has refuted claims that many foreign investors have either closed their operations here or moved to other …

Oil

Japan export growth weakens unexpectedly in October

Japan’s export growth weakened unexpectedly in October as growth in shipments to North America and China softened.<p>The value of Japan’s exports rose …

Economy

China issues guidelines on boosting private investment in manufacturing sector

BEIJING (Reuters) - China's industry ministry issued guidelines on Monday aimed at boosting private investment in the manufacturing sector, including stepping up fiscal support.<p>China will support private firms' fundraising efforts through products such as corporate bonds and asset-backed …

News (China)

Malaysia looking to ease burden of increasing fuel prices

KUALA LUMPUR: Malaysia's Ministry of Finance said it will identify steps to ease public burden should fuel prices remain above RM2.50 (US$0.60) per …

Oil

Incensed netizens condemn high ministerial salaries as PM Lee confirms impending tax hike

Prime Minister Lee Hsien Loong’s confirmation that higher taxes are inevitable to counter increased spending has earned the ire of netizens who are …

Lee Hsien Loong

No Plan To Change GST Rate -- Ministry

KUALA LUMPUR, Nov 20 -- The government has not planned to change the rate of the goods and services tax (GST) which has been set at six per cent, …

Economy

China to Appropriate State Company Assets to Make Up Pension-Funds Gap

China will set aside part of state-owned enterprises’ assets to make up the shortage of money in the nation’s pension funds due to an increasingly …

News (China)

China Focus: China to transfer state assets to social security funds - Xinhua

BEIJING, Nov. 18 (Xinhua) -- China will transfer some state assets, including shares of state-owned companies (SOE) and financial institutions, to …

News (China)

Norway's proposal to ditch its £28 billion oil holdings sends shockwaves through the sector

• <b>Norway's central bank has recommended that the Ministry of Finance remove oil and gas holdings from its $1 trillion (£760 billion) sovereign wealth fund.</b>• <b><br>"The return on oil and gas stocks has been significantly lower than in the broad equity market in periods of falling oil prices," said the bank in</b> …

Oil

Dalian to Bratislava freight service arrives

INTERNATIONAL: A trial container service from Dalian in China to the SPaP port on the River Danube in Bratislava arrived in the Slovak capital on …

China

China Cracks Down on Public-Private Partnership Abuse

China is stepping up efforts to close loopholes in its public-private partnership initiative that are being exploited by local governments to borrow …

News (China)

Norway Considers Pulling Its $1 Trillion Wealth Fund Out of Oil Stocks -- 3rd Update

Norway's sovereign-wealth fund said on Thursday it may stop buying oil and gas stocks, a move that would deprive the energy sector of investment from a $1 trillion asset manager.<p>The Norwegian central bank, which uses the fund to invest the proceeds of the country's oil industry, said that investing …

Oil

Japan sees new phase in long struggle against deflation

TOKYO -- Japan has entered a new phase in defeating deflation, the Cabinet Office said Thursday, but weak inflation points to the continued need to …

Economy

Three Key Reforms Have Improved Transparency: Arun Jaitley

Finance Minister Arun Jaitley has said three key structural reforms -- Aadhaar, Demonetisation and GST -- have enhanced transparency and helped in …

Economics

Mexico Seeks Diesel Around the World Before Price Limits End

Mexico is scouring the earth to stock up on diesel fuel before market-liberalization measures take effect.<p>Petroleos Mexicanos, the country’s …

Oil

EM ASIA FX-Most currencies slip as dollar firms, won and peso gain

(Adds text, updates prices)<p>Nov 16 (Reuters) - Most Asian currencies weakened on Thursday as the U.S. dollar firmed, boosted by solid U.S. data though …

Economy

Finance Minister Speaks on High Inflation Rate, Flour Crisis

Khartoum — The Minister of Finance revealed an inflation rate in Sudan of 34 percent in the first half of 2017. He said that the current flour crisis …

Economy

Xinhua

BEIJING, Nov. 15 (Xinhua) -- China's Ministry of Finance (MOF) has extended a duty-free policy for technology imports to facilitate a national …

News (China)

Controversial Presidential Fiscal Committee only 'advisory' - govt

Cape Town - Government on Tuesday said the Presidential Fiscal Committee (PFC) - a new body established in September – was “advisory” in nature and …

Business (South Africa)

Liberman accuses Finance Ministry of blocking funding for northern defense

IDF believes Hezbollah will try to infiltrate Israeli community in next war<p>Defense Minister Avigdor Liberman accused the Ministry of Finance of …

World News

Exclusive: India seeks hefty dividends from state firms as its revenues falter

NEW DELHI (Reuters) - India is demanding millions of dollars in dividends from 12 reluctant state companies to make up for an expected tax revenue shortfall this fiscal year, as a slump in economic growth risks New Delhi overshooting its fiscal deficit target.<p>India's Ministry of Finance building is …

India

Norway statistics bureau head resigns over conflict

A series of meetings between Meyer and Finance Minister Siv Jensen culminated in the former leaving her post on Sunday, reports NRK.<p>The background to …

Linking GST cuts to elections 'juvenile politics': Jaitley

New Delhi, Nov 13 (PTI) Finance Minister Arun Jaitley today debunked Congress' claim that it forced the government to lower tax on over 200 goods, …

India