In FY2023, Japan's businesses will increase base pay by 62 percent.

According to a poll conducted by the Japanese Ministry of Finance, 62.1% of enterprises in Japan have raised or intend to boost base pay in fiscal 2023, up significantly from 38.7% the previous year. The shift is most pronounced outside of the manufacturing sector, where 56.0% of businesses have ...

Auction Of T-Bonds (Dirham)

On Saturday, the UAE Ministry of Finance announced that a second auction of federal treasury bonds will take place on June 20. AED1.5 billion will be auctioned off in two tranches: AED750 million which means $204 million for two years and AED750 million for three years. At an effort to boost seco...

CHINA’S SEO’S PROFITS ROSE 240%; TRADE SURPLUS AT $34.47 BILLION IN APRIL

Highlights –

• China’s SEO’s profits rose 240%; trade surplus at $34.47 billion in April.
• The profits of centrally administered SOEs rose 160 percent year on year.
• The debt-to-asset ratio of the country's SOEs came in at...

CHINA’S FISCAL REVENUE IN Q1 OF 2021 ROSE 25.5 PERCENT

Highlights –

• China’s fiscal revenue in Q1 of 2021 rose 25.5 percent.
• The Ministry of Finance, the country's fiscal revenue topped 7.8 trillion yuan.
• Tax revenue in the first four months came in at nearly 6.75 trillion yuan.<...

CBIRC ASKS CHINESE BANKS NOT TO WITHHOLD LOANS TO HUARONG

Highlights –

• CBIRC asks Chinese banks not to withhold loans to Huarong.
• Huarong is reportedly one of China's four biggest distressed asset management companies.
• Huarong and its subsidiaries reportedly have outstanding offshore bon...

JAPAN’S CURRENT ACCOUNT SURPLUS FELL IN FEBRUARY OVER IMPORTS

Highlights –

• Japan’s current account surplus fell in February over imports.
• The current account balance logged a surplus of $27 billion.
• Japan’s goods trade surplus has been more than halved to 524.2 billion yen.

INDIAN GOVERNMENT MAY PRIVATIZE AN INSURANCE COMPANY

HIGHLIGHTS

• Indian Government is considering plans to privatize either of Oriental Insurance or United India Insurance.
• Some rumors say that both countries might get privatized.
• Both companies may be able to generate interest from the privat...

S. KOREAN FINANCE MINISTRY LIKELY TO SUBMIT EXTRA BUDGET PROSPOSAL

Highlights –

• S. Korean finance ministry likely to submit an extra budget proposal.
• Finance Minister Hong Nam Ki has instructed officials to do the same by next week.
• The govt. and the ruling Democratic Party may surpass the budget by ...

JAPAN CABINET TO ISSUE MORE NEW BONDS WORTH $1.08 TRILLION TO MANAGE ECONOMY

Highlights –

• Japan Cabinet to issue more new bonds worth $1.08 trillion to manage the economy.
• Japan’s tax revenue is expected to fall more than 8 trillion yen short in fiscal 2020.
• The third supplementary budget for the current...

JAPAN’S BUDGET FOR FY2021 LIKELY TO BE MORE THAN $986 BILLION DUE TO PANDEMIC

Highlights –

• Japan’s budget for FY2021 to be more than $986 billion due to pandemic.
• Some 5 trillion yen has already been set aside for funds in addition to the above amount.
• The current FY2020 budget has been 102.66 trillion ye...

CORPORATE EARNINGS TO BRING DOWN TAX REVENUE IN JAPAN FOR FISCAL 2020

Highlights –

• Corporate earnings to bring down tax revenue in Japan for fiscal 2020.
• Tax revenue is expected to fall short by more than 8 trillion yen.
• Tax revenue in the current fiscal year through March may total to about 55 trillion...

SMUGGLED GOLD VALUED AT $610,261 CONFISCATED BY NAGASAKI CUSTOMS AUCTIONED

Highlights –

• Smuggled gold valued at $610,261 confiscated by Nagasaki customs auctioned.
• Around 9.33 kgs of pure gold bars were confiscated by the customs office.
• The customs put the confiscated gold for general competitive bidding.

Tax rationalization

New Delhi: On Monday, the telecom sector sought a number of measures, including lower taxes and lower interest rate bank funding, stating that a strategic intervention of the Center was necessary to revive the stressed sector in line with the 2018 National Digital Communication Policy. The Teleco...

Ministry of Finance refused to share Indian banking information of Swiss bank accounts citing confidentiality

NEW DELHI: The finance ministry has refused to share Indians ' Swiss bank accounts data saying it is protected by a tax treaty concluded between India and Switzerland under "confidentiality clauses."

The ministry also declined to reveal the specifics of black money obtaine...

Rules of the Indian Insurance Companies

The Department of Financial Services, Ministry of Finance, Government of India by method for a notice dated September 2, 2019, has changed the Indian Insurance Companies (Foreign Investment) Rules, 2015, compliant with which the 49% outside value speculation top appropriate to protection middle p...

35.7 bln USD disbursed business sentiment in India

NEW DELHI, November 22 — State-run banks in India distributed some 250,000 crore Indian rupees as loans in October to raise the overall business confidence, official sources in the Ministry of Finance stated on Friday.

The previous month, the government-run banks held loan camps i...

Pakistan asks for UAE’s help in tracking down individuals who had acquired illegal wealth

The law in the United Arab Emirates allows foreigners to acquire iqama (work permit) if they invest more than a certain set value. The matter became increasingly significant in Pakistan following an information received from the UAE which stated how nearly 3700 accounts had been traced back to Islam...

Country-by-country firms’ reports introduced by UAE

Move to fortify worldwide guidelines in accordance with OECD nations, which will likewise change consistence scene in the nation The UAE has presented nation by-nation (CbC) revealing for organizations so as to fortify its global guidelines in accordance with OECD nations, which will likewise cha...