In a statement credit ratings agency Fitch said, if Russia were to repay the two U.S. dollar bond coupon maturing on Wednesday in roubles, it would amount to a sovereign default once the grace period expires. Western sanctions on Russia… Read More ›
Ministry of Finance
Deloitte PLT paid $80M to settle its role in 1MDB scandal
On Thursday, in a statement Malaysia’s Ministry of Finance said, it had received $80 million from audit firm Deloitte PLT, as part of a settlement deal related to 1Malaysia Development Berhad (1MDB) scandal. It went on to add, it is… Read More ›
Porsche AG setting up assembly plant in Malaysia
According to a report from The Edge Weekly, German sports car maker Porsche AG is setting up an assembly plant in Malaysia under a partnership with Sime Darby Bhd’s automotive business. The report citing sources said, the luxury car maker… Read More ›
Government to spend $3.71 billion towards Go To Travel campaign: Japan’s Ministry of Finance
On Friday, in a statement Japan’s Ministry of Finance said, the Japanese Cabinet has decided to spend $3.71 billion (385.6 billion yen) from emergency budget reserves to back the government’s domestic travel. The bulk of the spending will go towards… Read More ›
BoeE coordinating with MoF to get max economic impact: BoE Governor
On Wednesday, Bank of England’s Governor Mark Carney disclosed, the central bank was coordinating with Britain’s finance minister to ensure that the surprise cut in interest rates as well as other measures that were announced today had their maximum intended… Read More ›
China excludes U.S. chemicals from import tariffs
On Thursday, China unveiled a new list of U.S. imports which will be exempted from tariffs following the two countries announcing a Phase 1 trade deal. The waivers will be effective from December 26, and will apply for six items,… Read More ›
China widens income tax exemptions for foreign firms
While this exemption was available to foreign firms earlier, it focused on only on specific sectors. With this strategic move, Beijing has covered all sectors, other than the prohibited ones, and to top it has made the provision applicable retrospectively… Read More ›
China pushes private investments in its weak manufacturing sector; has global ambition
By placing private funds in its manufacturing sector, which has been traditionally weak at best, China is aiming to capitalize the experience it has gained with its European partners and boost this sector which has been plagued by a host… Read More ›
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