Unless the economy improves, China’s GDP could see a drop of 3% : IMF

Unless the economy improves, China’s GDP could see a drop of 3% : IMF

Beijing :Increasing debt, high dependence on government policies and financial aids, over-capacity production in the industrial sector are some of the factors that may have a negative impact on China’s economy; according to International Monetary Fund (IMF) report. IMF has indicated that if suitable economic developments are not done, China’s GDP could see a drop […]

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Sri Lankan economy in major crisis; lacks funds to repay loans, foreign reserves drop

Sri Lankan economy in major crisis; lacks funds to repay loans, foreign reserves drop

Colombo – Sri Lanka, which has borrowed heavily from China, faces a massive financial crisis. Sri Lanka’s foreign exchange reserves have fallen sharply, with only three months’ worth of foreign reserves remaining. This has led Sri Lanka to impose restrictions on imports of various commodities. According to some reports, Sri Lanka also has no money […]

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China dismisses Pakistan’s request regarding CPEC

China dismisses Pakistan’s request regarding CPEC

Islamabad – Claims are being made in Pakistan that the China Pakistan Economic Corridor (CPEC) is the country’s future. But this project, and also the future of Pakistan, seems to be under threat. The Pakistan government had demanded that China should restructure certain loans given to Pakistan under this scheme. China has dismissed the demand. […]

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German Health Minister underscores necessity for ‘global reset’ to fight future pandemics

German Health Minister underscores necessity for ‘global reset’ to fight future pandemics

Berlin/Washington: German Health Minister Jens Spahn appealed during a meeting of the World Health Organisation (WHO) Wednesday that “the world is still insufficiently prepared for future epidemics and the risks they pose. Therefore, its structure needs to be rebuilt.” As part of the WHO initiative, a new global hub will be set up in Germany for research […]

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FDI limit raised to 74% in the insurance sector; this decision will strengthen the insurance sector, analysts claim

FDI limit raised to 74% in the insurance sector; this decision will strengthen the insurance sector, analysts claim

New Delhi: A major decision was announced in the Union budget, strengthening the insurance sector. The Foreign Direct Investment (FDI) limit for the insurance sector increased from 49% to 74%. Since the last few years, demand was being made that the FDI limit in the insurance sector should be raised. The decision is welcomed by […]

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China needs to act urgently to contain financial risks, warns IMF 

China needs to act urgently to contain financial risks, warns IMF 

Washington/Beijing: – The International Monetary Fund (IMF) has warned that China needs to initiate immediate steps to avert the threats to economic stability. The Chinese economy’s debt burden has increased tremendously during the Coronavirus pandemic period, and small banks and local administrations are feeling immense pressure. At the same time, the credit rating of the […]

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Africa makes Free Trade bloc functional

Africa makes Free Trade bloc functional

Accra/Washington: – Africa has implemented the free trade agreement, from the 1st of January 2021, against the background of killer epidemics like Ebola and Coronavirus, terrorism and ethnic conflict. Senior official Wamkele Mene announced that the agreement was active saying ‘African Continental Free Trade Area is not only a trade agreement but important means for the development […]

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