Imports-reliant Maldives has borrowed heavily over the years for infrastructure and other needs. File photo from capital Male. | Photo Credit: AFP Despite global lenders and rating agencies flagging a “high risk” of debt distress in the Maldives, the government said it is well prepared to stave off a financial meltdown. Addressing Colombo-based journalists on Friday…
A building housing the PricewaterhouseCoopers (PWC) branch office stands behind a Chinese national flag in Beijing. | Photo Credit: Reuters Chinese authorities have banned the accounting firm PwC for six months and fined it over 400 million yuan ($56.4 million) over its involvement in the audit of collapsed property developer Evergrande. The punishment is the…
Image for representational purposes only. | Photo Credit: REUTERS India’s industrial output growth rose 4.8% in July, the second-slowest pace in the financial year 2024-25, from an upgraded 4.7% growth in June, even as mining and electricity growth slowed, and non-consumer durables’ production slipped a sharp 4.4%, marking the third contraction in four months. In…
A scene at a vegetable market in Delhi. | Photo Credit: SUSHIL KUMAR VERMA India’s retail inflation stayed under the Reserve Bank of India’s median target of 4% for the second successive month in August, even as it inched up marginally to 3.65% from an upwardly revised 3.6% in July. August’s inflation pace is the…
India’s push to become a factory titan has hit a snag: to become a credible alternative to China for global firms, it first needs to warm up to its long-time rival. Ties between the world’s two most populous countries have been strained since the border clash in 2020, slowing the exchange of capital, technology and…
Kerala Finance Minister K.N. Balagopal (file) | Photo Credit: S. MAHINSHA Centre-State financial relations, grievances regarding cuts in allocation and the need for a united front to secure a fair share in the 16th Finance Commission will take centre stage in Thiruvananthapuram on Thursday (September 12, 2024) at a one-day conclave to be attended by…
The high unemployment rate in the Bharatiya Janta Party-ruled Haryana reflected even in Union government surveys, has been a major weapon in the hands of the Opposition to attack the State government, and more so as the State goes to the polls in a few weeks from now. But the Periodic Labour Force Survey (PLFS)…
A poster of an immigration consulting agency in Rajpura town amid rising emigration in Punjab. | Photo Credit: REUTERS Uncertain over securing a suitable job, Ranjandeep Singh, a 22-year-old bachelor of arts graduate in Punjab’s Malout town in Muktsar district has been for the past six months rigorously preparing to clear his language testing exams…
Foreign Portfolio Investors (FPIs) have been consistently buying equities since June. Before that, they had pulled out funds to the tune of ₹34,252 crore in April-May. | Photo Credit: REUTERS Foreign investors infused nearly ₹11,000 crore in domestic equities in the first week of the month owing to resilience of the Indian market and expectations…
The GST Council on Monday (September 9, 2024) is expected to deliberate on a host of issues, including taxation of insurance premium, GoM’s suggestions on rate rationalisation, and a status report on online gaming, sources said. Sources claimed the fitment committee, comprising Centre and State tax officials, will present a report on GST levied on…
