Pakistan ‘strongly contests’ Moody’s ratings downgrade Concerns are rising about Pakistan’s ability to pay for imports such as energy and food, and meet sovereign debt needs. Al Jazeera · Oct 7, 2022
Saudi Arabia Underlines Support to IMF Efforts to Alleviate Global Food Crisis Saudi Minister of Finance Mohammed Al-Jadaan underlined his country’s support to the efforts of the International Monetary Fund (IMF) to mitigate the impact of the global food crisis. During a meeting with IMF Managing Director Kristalina Georgieva, Al-Jadaan discussed areas of bilateral cooperation, including capacity development and the establishment of… Asharq Al-Awsat · Oct 3, 2022
Saudi Arabia Expects Sustainable Surplus Budgets until 2025 The Saudi Ministry of Finance disclosed estimates of its budgets until 2025, showing positive trends and expectations of sustainable financial surpluses during the medium term. The preliminary statement of the state’s general budget for the fiscal year 2023 expected total expenditures to reach about 1.11 billion riyals ($296 billion), and… Asharq Al-Awsat · Oct 1, 2022
Pharma manufacturers’ body moves Karnataka HC against treating free samples of medicines given to doctors as ‘freebies’ under Income Tax Act Ministry of Finance had said that drug manufacturers will have to deduct 10% tax for the value of free samples of medicines The Hindu · Sep 29, 2022
Jordan’s Public Debt Increases to $41 Bln Jordan’s public debt rose 1.6 percent to 29.16 billion dinars ($41 billion) in the first half of 2022 from 28.7 billion dinars at the end of 2021. Its domestic debt reached 13.89 billion dinars at the end of H1, while its foreign debt reached 15.26 billion dinars, according to statistics… Asharq Al-Awsat · Sep 12, 2022
Russia Seeks To Legitimize Use Of Cryptos In Cross-border Payments The Ministry of Finance and the Bank of Russia have reconsidered their stance on cryptocurrencies, a step needed to legitimize cross-border payments in these currencies, according to the country's Deputy Finance Minister Alexei Moiseev. Benzinga · Sep 6, 2022
Saudi Arabia Prepares to Launch Individual Savings Sukuk The Saudi Ministry of Finance and the National Debt Management Center (NDMC) are seeking to develop and launch individual savings Sukuk to motivate individuals to design better plans for the future and seek strategic partnerships with the private sector. The two entities signed a memorandum of understanding (MoU) with SNB… Asharq Al-Awsat · Aug 11, 2022
B21bn savings bond issue dates set A total of 21 billion baht worth of government savings bonds will go on sale to the public from Aug 22 to 24, a Ministry of Finance official confirmed on Thursday. Bangkok Post · Aug 11, 2022
Oman Posts 784 Million Rial Budget Surplus for H1/2022 The Omani government posted a budget surplus of 784 million rials ($2.04 billion) at the end of the first half of 2022, Oman's state news agency reported on Sunday. The Gulf Arab state's oil revenues increased to 3.187 billion rials by the end of first half, the report added. Public… Asharq Al-Awsat · Aug 7, 2022
$2Bln in Auction of UAE Treasury Bonds The United Arab Emirates, represented by the Ministry of Finance as the issuer, in collaboration with the Central Bank of the UAE (CBUAE) as the issuing and paying agent, announced Monday the results of the third auction of the Treasury Bonds program (T-Bonds). This program is part of the AED9… Asharq Al-Awsat · Aug 2, 2022
SET warns against plan to reintroduce tax on share sales The Stock Exchange of Thailand has warned that the Ministry of Finance’s plan to reintroduce a 0.1% tax on share sales may significantly affect the bourse’s liquidity and slow economic recovery. Bangkok Post · Jun 16, 2022
PM’s Iconic Week launch livestreamed in Mysuru Central GST Department broadcasts the event under ‘Azadi Ka Amrit Mahotsav’ at ATI campus; it was broadcasted in 74 other major cities The Hindu · Jun 6, 2022
COFEPOSA detention: Denying documents against constitutional right, says Kerala HC KOCHI: Not supplying the documents relied upon for ordering preventive detention under COFEPOSA Act amounts to violation of the detenue’s constitutional right, the Kerala High Court has held while quashing a detention order issued by the Joint Secretary COFEPOSA of Ministry of Finance. The Times of India · Jun 6, 2022
PM Modi to launch Azadi Ka Amrit Mahotsav on June 6, event to be webcast in 75 cities COIMBATORE The Hindu · Jun 3, 2022
Asharq Al-Awsat · May 16, 2022 Saudi Quarterly Budget Registers Record Surplus Official data released on Sunday showed that the Saudi budget for the first quarter of 2022 recorded a surplus of SR 57.4 billion ($15.3 billion dollars). The Saudi Ministry of Finance announced the actual general budget for the first quarter of 2022, noting that the Kingdom collected revenues of SR…
Asharq Al-Awsat · May 10, 2022 Oman's Budget Records Surplus of Almost $1Bn Oman's state budget recorded a surplus of $928 million at the end of the first quarter of 2022. The Finance Ministry announced the surplus would be used to accelerate economic recovery, enhance development expenditure, and reduce the risks of the country's public debt portfolio. As of the end-first quarter of…
Asharq Al-Awsat · Apr 21, 2022 UAE Issues $400 Million Domestic Treasury Bonds in Dirhams The UAE has announced the launch of conventional AED denominated Treasury Bonds of the Government of the UAE (T-Bonds), with benchmark auction size of AED1.5 billion ($400 million). This was conducted through the Ministry of Finance (MoF) as the Issuer, in collaboration with the Central Bank of the UAE (CBUAE)…
Al Jazeera · Apr 6, 2022 Has India’s central bank avoided tackling high inflation? As the RBI focuses on managing Indian government’s debt & propping up growth, inflation soars.
Al Jazeera · Apr 4, 2022 India sought probe into ex-RBI gov Rajan for helping ‘white man’ India accused the RBI of setting interest rates to favour developed nations, pushing it to slash the rates.
Dynamite News · Mar 31, 2022 IT raids in Delhi-NCR on automobile manufacturing group, firm operating chartered flights and real estate groups The Income Tax Department conducted a search and seizure operation on a leading automobile manufacturer group along with a company operating chartered flights and a real estate group of Delhi-NCR covering more than 35 premises across Delhi-NCR, on March 23, said Ministry of Finance.
Reuters · Mar 15, 2022 Japan imposes sanctions on 17 more Russians, including billionaire Japan has decided to freeze assets of an additional 17 Russian individuals, bringing the total number targeted by sanctions over Russia's invasion of Ukraine to 61, the Ministry of Finance said on Tuesday.
Reuters · Mar 8, 2022 Japan unveils new sanctions on Russians, bans refinery equipment exports Japan has frozen the assets of an additional 32 Russian and Belarusian officials and oligarchs following the invasion of Ukraine, the Ministry of Finance announced on Tuesday.
Asharq Al-Awsat · Feb 24, 2022 UAE Says it Seeks to Commit to Int’l Standards, Prevent Malicious Practices via Corporate Tax Deputy Secretary of the Ministry of Finance Younis Al-Khoori said that the use of federal tax on companies as of June 2023 strengthens the UAE’s commitment to meet international standards for tax transparency and the prevention of harmful tax practices. It is also an integral part in encouraging economic growth,…