Ministry of Finance

Japan Aug exports rise 18.1 percent year-on-year: MOF

TOKYO (Reuters) - Japan's exports rose 18.1 percent in August from a year earlier, Ministry of Finance data showed on Wednesday, in a sign of robust …

Economy

Zambia to resume talks with IMF over possible aid program in October

LUSAKA (Reuters) - Zambia's Finance Permanent Secretary said on Tuesday that the southern Africa nation will resume talks with the International Monetary Fund over an aid program in October and hopes to get IMF board approval by the end of the year.<p>"The engagement with the fund is pretty advanced. …

Business

TM, TNB share transfers to bail out Bank Negara done discreetly, RCI told

PUTRAJAYA: The share transfers of Telekom Malaysia Bhd and Tenaga Nasional Bhd (TNB) to Bank Negara Malaysia (BNM) in order to bail the latter out of …

Malaysia

Cyprus ‘sells’ citizenship to Russia and Ukraine’s super-wealthy

Prominent businesspeople from Russia and Ukraine are purportedly amongst those who have acquired Cypriot citizenship, and therefore EU citizenship, by investing millions in the country.<p>Some 400 individuals have benefitted from the “golden visa” scheme including Ukrainian elites accused of …

Cyprus

Google TEZ launched in India

Few days back tech news website The-Ken broke a news that Google is planning to enter Indian Digital payment ecosystem through its newly developed …

Banking

Tanzania: Brazil Cancels $203m Tanzania Debt

BRAZIL has officially cancelled 203 million US dollars debt owed by Tanzania accrued from a loan secured from the South American economic power house …

Africa

Trudeau’s tax reforms: Here’s how the loopholes work

You may have heard that the Liberal government is considering some changes to how small businesses and other corporations are taxed. The proposed …

Canadian News

B.C.’s grand experiment playing out at legislature

When B.C. Green Party Leader Andrew Weaver slammed Premier John Horgan for hosting a $525-per-ticket fundraiser, it came as no surprise to the …

Canadian News

Excise tax to be paid in e-Dirham only

UAE Excise Tax will be collected in e-Dirham only, the Federal Tax Authority has announced.<p>e-Dirham was introduced by the Ministry of Finance in 2011 …

Federal Budget

Finance Minister Arun Jaitley to launch Google Tez, a UPI-based digital payment service, on 18 September

Union Finance Minister Arun Jaitely will launch Google's Unified Payments Interface (UPI)-based <b>digital payment service</b> called "Tez" on Monday.<p>Finance …

India

India’s Shock Therapy Has Some Serious Side Effects

Over the past year the government of Prime Minister Narendra Modi has administered two rounds of shock therapy to India’s $2 trillion economy. In …

Business

China's First Dollar Bond Since 2004 Is Set to Shake Up Market

It’s been a record year so far for Asian dollar bonds, with unprecedented demand from within the region spurring a slew of debut issuers and …

Economy

Japan aims to catch gold smugglers at airports

TOKYO -- Seeking to curb a growing outbreak of gold smuggling, Japan's Ministry of Finance will install metal detector gates at the customs areas of …

Japan

Why Turkey Will Never Be Part of the European Union

In 2004, the EU made Turkey an official candidate for membership, but the process of bringing the country into the union subsequently stalled. Now, …

Turkey

Foreign Buying Drops Dramatically In Toronto After New Housing Rules

Ontario's provincial government is declaring victory after new data shows a noticeable drop in the number of home sales to foreign buyers following …

Real Estate

Foreign Investors Defy Topix Gains With Continued Stock Selling

The Topix index is set for its highest level in more than two years, but foreign investors aren’t sticking around to see if it keeps …

Business

China Prepares Sale of $2 Billion in U.S.-Dollar Bonds

China is laying the groundwork for its first sale of U.S.-dollar sovereign bonds in more than a decade, a move toward expanding its ties with global investors as its economy improves.<p>The government is preparing to sell $2 billion in bonds this month, and investment banks are pitching for a role in …

Economy

India invites bids to appoint banks, lawyers for Air India sale

NEW DELHI (Reuters) - India has invited bids to appoint two financial advisors and one legal advisor for the privatisation of national carrier Air India and its subsidiaries, the Ministry of Finance said in a newspaper advert on Thursday.<p>The government gave the green light to sell Air India, which …

India

Zambia GDP growth seen rising to 6.1% by 2020

Zambia’s economy will grow by 5.0 percent in 2018, 5.1 percent in 2019 and 6.1 percent in 2020, up from 4.3 percent in 2017, the ministry of finance …

Economy

Russia's Finance Ministry Drafts Law to Legalize Cryptocurrencies

Regulation<p><b>Russia’s finance ministry is working on a draft bill to legalize cryptocurrencies including bitcoin, which is expected by the end of the</b> …

Bitcoin

China's Fiscal Spending Slowed Sharply in August

BEIJING – China's fiscal spending slowed sharply in August, as the government had front-loaded expenditure earlier this year, resulting in stronger-than-expected economic growth in the first half of the year.<p>China's fiscal spending rose 2.9% compared with a year ago to 1.47 trillion yuan ($226.9 …

Economy

FinMin to start work on Union Budget 2018-19 next week

<b>New Delhi:</b> Work on India's first post-GST Union Budget 2018-19 will start next week with the finance ministry issuing timelines for different …

Business (India)

China fiscal revenue and spending growth slow in August

BEIJING (Reuters) - Government spending in China rose at its slowest monthly pace in 10 months, though for the whole of 2017 spending is still up …

Economy

ADB To Provide $152 Million To Nepal To Enhance Power Transmission

The Asian Development Bank will provide a USD 152 million to Nepal for the implementation and enhancement of its power transmission and distribution, …

Energy

The ‘jewels in the crown’ of Saudi Arabia’s privatization program

DUBAI: The government of Saudi Arabia has for the first time revealed in detail the parts of the national economy that will be considered for …

Saudi Aramco

The Distributional Impacts of Taxes and Transfers

Nora Lustig<p>Samuel Z. Stone Professor of Latin American Economics and Director of the CEQ Institute, Tulane University<p>Nora Lustig is Samuel Z. Stone …

Economics

Black markets for illegal cigarettes found in Vancouver, Toronto

Chinese cigarettes, barred from legal sale in Canada, are being briskly bought and sold by black-market vendors in Vancouver and Toronto, some of whom are getting the product from travellers purchasing cigarettes duty free and then exchanging them for services in Canada.<p>An examination by The Globe …

British Columbia

Kuroda Still on Top in Guessing Game for Who Will Run the BOJ

Kuroda Is on Top in the Guessing Game for Who Will Run the BOJ<p>By Toru Fujioka, Masahiro Hidaka and Cynthia Li<p>Governor Haruhiko Kuroda is the top …

Economy

Govt deregisters more than 2 lakh firms in crackdown on shell companies, directors face action

The government on Tuesday said that names of over 2.09 lakh firms have been struck off from register of companies for failing to comply with …

Business (India)

Why BOJ Should Stop Being Obsessed With 2% Inflation Goal

The Bank of Japan should stop being obsessed with its 2 percent inflation target given prices and interest rates around the world remain subdued, …

Economy