India's spending on subsidised foodgrain to the poor may rise to 2.7 trillion rupees ($32.74 billion) this fiscal year, as the government continues to provide support to the poor at least until December, according to a government official and a document reviewed by Reuters. Federal government food subsidies will likely increase by 30% over the 2.07 trillion rupees ($25.14 billion) estimated in the budget, the official said, speaking on condition of anonymity as discussions are confidential. Increased subsidies on foodgrain and fertiliser are likely to strain the federal budget, even though the government has seen strong tax collections this year.
President Joe Biden declared the comeback of US manufacturing Tuesday at the site of a mammoth expansion to a Taiwanese-owned semiconductor plant aimed at breaking risky US dependency on foreign-based producers for the vital component.
HONG KONG SAR - Media OutReach - 7 December 2022 - Reckitt's brand Dettol announces to be Product Sponsor of the 2022 Sun Hung Kai Properties Hong Kong Cyclothon ("Hong Kong Cyclothon"). The partnership aims to enhance hygiene protection of thousands of cyclists at this major sports event held through the diverse cityscape of Hong Kong, featuring a spectacular route that passes through the Tsing Ma Bridge, Ting Kau Bridge, Stonecutters Bridge, Cheung Tsing Tunnel, Nam Wan Tunnel and Eagle's Nest
The Indian rupee closed slightly higher against the U.S. dollar on Wednesday, snapping a three-day losing streak, as the Reserve Bank of India raised interest rates and took a hawkish stance in its fight against inflation. The RBI raised the key repo rate by 35 basis points (bps) to 6.25%, as widely expected, in its fifth straight increase, and vowed there will be no let up in its fight to tame high inflation. Not only did the monetary policy committee retain its hawkish stance of "withdrawal of accommodation", it also hinted at further tightening when it said further calibrated monetary policy action is warranted, said Pranjul Bhandari, chief India and Indonesia economist at HSBC.
"In this complex world, with both push and pull factors at play, the INR - which is market-determined - should be allowed to find its level and that is what we have been striving to ensure," Das said, while announcing the central bank's monetary policy decision to raise its key lending rate by 35 basis points (bps). It was important to assess the rupee's movement in the context of global and domestic macroeconomic and financial market developments, Das said. Das pointed out that during the recent appreciation in the U.S. dollar, the rupee's movements have been the "least disruptive," relative to peers.
Airlines are expected to return to profit next year for the first time since 2019 despite slowing global growth as they recover from a Covid-induced crisis, an industry group said Tuesday.
TAIPEI, TAIWAN - Media OutReach - 7 December 2022 - According to BMI Research, the global market for medical devices was valued at US$454.3 billion in 2021, a 6.3% increase from 2020, and is expected to reach US$535.2 billion by 2024, with a CAGR of approximately 5.6% from 2021 to 2024. Medical Taiwan, one of the B2B trade shows organized by Taiwan External Trade Development Council (TAITRA), will be held at Taipei Nangang Exhibition Center, Hall 2 from June 8 to June 10, 2023. It will focus on
Artist’s impression of the clubhouse and swimming pool of The Gazania (Credit: SingHaiyi)SINGAPORE (EDGEPROP) - Despite having higher prices than their leasehold counterparts, freehold condominiums are very well-sought after by buyers because of their scarcity and longer tenure.Current average price for islandwide freehold condominiums is $2,031 psf, 16.2% higher than 99-year leasehold condominiums ($1,701 psf).Our analysis indicates that there are affordable condominiums. However, such freehold
The telco could be at an inflexion point for its business that will see it reporting better financial numbers ahead. The post Can Singtel Raise its Dividends in 2023? appeared first on The Smart Investor.
HONG KONG SAR - Media OutReach - 8 December 2022 - Lithium Finance, the first decentralized valuation protocol for illiquid assets, will launch its Mainnet Beta on 12 December 2022 on the Polygon network. The launch will allow users to obtain accurate and decentralized price valuations for NFTs. Lithium Finance combines wisdom of the community with machine learning to provide deep market insights. It aims to help investors better understand digital asset value to enable informed risk and investm
China's imports and exports plunged in November to levels not seen since early 2020, as strict Covid restrictions hit the economy hard, according to official figures released Wednesday.
Sabrina and John have decided that it is time to settle down roots after seven years together. They utilised PropertyGuru to find their perfect home, a 5-room flat in Bukit Merah, an “in the middle” location for the couple, who used to live in Ang Mo Kio and Bukit Batok, respectively.
SINGAPORE - Media OutReach - 8 December 2022 - Oasys, a gaming-optimised blockchain built by gamers for gamers, today announces the launch of OASYX, the first NFT project built on Oasys' native blockchain, in collaboration with critically acclaimed game development executive, Yu Suzuki. OASYX will create various NFTs in conjunction with leading creators, artists and developers hailing from established traditional gaming brands. OASYX's inaugural series of NFTs at launch will be creatively superv
CMK Gaming International, Inc. (Pink sheets CMKI) ( Colorado Corporation) and CIPHER-CORE Co.,Ltd. a Japanese Corporation(CIPHER), signed an AGREEMENT AND PLAN OF REORGANIZATION on February 17th, 2022 (Agreement) and closed on March 14th, 2022.
Sula Vineyards is aiming for a valuation of up to 29.13 billion rupees ($353 million) in India's first initial public offering by a pure wine maker, riding high on the rise in consumption since the pandemic in a country that prefers beer, whisky and country liquor. About 26.9 million shares will be sold for between 340 rupees and 357 rupees in the IPO, with Sula raising 9.60 billion rupees, Chief Executive Rajeev Samant said at a press conference in Mumbai on Wednesday. Samant as well as Belgian investment firms Verlinvest and Cofintra SA will sell shares in the IPO, which could value India's largest wine maker as much as 29.13 billion rupees at the top end of the price range, per Reuters' calculations.
Major stock markets were hit by more selling Wednesday on growing fears that Federal Reserve monetary tightening will tip the US economy into recession, with Chinese trade data adding to the gloomy outlook.
“Our projections imply that we have passed the high-water mark of global potential growth."
Artis’s impression of the virtual reality station at an Arena Esports Hotel (Picture: Savills)SINGAPORE (EDGEPROP) - Arena Esports Hotel, the operator of an "esports gaming arena-themed" hotel of the same name, has secured space for a new hotel at Cuppage Terrace, the row of shophouses located along Cuppage Road in the Orchard Road area.The space is being leased from landlord Royal Holdings, a property investment group controlled by property magnate Raj Kumar. According to a media release by Sav
RHB likes Japan Foods for its strong growth and food that keeps consumers coming back for more.
This was supposed to be the comeback year for the world economy following the Covid pandemic.