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  • President Barack Obama and IMF Director Christine Lagarde head to the G-20 urging major economies to stimulate growth.

    CHINA, 2014/11/11 President Barack Obama and International Monetary Fund chief Christine Lagarde arrive in China and Australia for major leaders’ summits this week with a clear directive: The world’s major economies must do additional to stimulate increase. The (politically bruised) leader of the world’s major economy and the chief of the world financial counselor honed their message coordination at a White Home conference last week ahead of the Asia-Pacific Economic Cooperation forum in Beijing and a conference of the the Group of 20 major economies in Brisbane.

  • Turkmenistan achieves stable national currency exchange rate

    KAZAKHSTAN, 2014/11/06 21 years passed from the date of putting the national currency - manat into circulation in Turkmenistan. It was put into circulation on November 1 and became a reliable and robust attribute of the country's statehood, Turkmen dovlet khabarlary national news service reported. The stability of the manat is ensured by a high level of Turkmenistan's economic development, the statement says. "This stability is the result completed by regulating the virtually unchanged ratio between the purchasing power of the manat and foreign currencies, that is, the constancy of the exchange rate," the statement says.

  • Fitch affirms Kazatomprom at 'BBB-'; outlook stable

    KAZAKHSTAN, 2014/11/06 The international rating agency Fitch Ratings has affirmed Kazakhstan-based National Atomic Company Kazatomprom's Long-term foreign currency Issuer Default Rating (IDR) at 'BBB-' with stable outlook, the rating agency reported on November 5. The company's Long-term IDR affirmed at 'BBB-' with stable outlook, Short-term IDR affirmed at 'F3', Foreign currency senior unsecured rating affirmed at 'BBB-'. "The ratings reflect Kazatomprom's standalone profile due to limited links with its ultimate parent - Republic of Kazakhstan (BBB+/ Stable). Its standalone profile primarily reflects the company's leading position in world uranium mining, the fact that most of its uranium production volumes have been contracted over the medium term, and its competitive cash costs compared with those of its world peers," the agency said.

  • China Inflation Slows More Than Expected In September

    CHINA, 2014/10/16 Chinese consumer prices slowed slightly additional than expected in September, figures from the National Bureau of Statistics showed on Wednesday. Consumer prices grew 1.6 % year-over-year in September following the 2 % rise in August. Economists had expected inflation to slow to 1.7 %. This marked the second consecutive month of slowing. a Part the major sub-categories, food prices advanced 2.3 % in September, contributing 0.78 % points to the in general increase in consumer prices.

  • The European Union (EU) to set budgetary support program for Kyrgyzstan

    KYRGYZSTAN, 2014/09/15 The European Union (EU) will set a new budgetary support program for Kyrgyzstan by allocating 30 million euros for this purpose. The program is aimed at implementing reforms at the governmental levels. The funds will be included in the new social protection strategy for 2015-2017, local media quoted an EU Delegation in Kyrgyzstan on September 11. As well, the EU has set the conditions for the allocation of 5 million euros within the program of the implementation of national social protection strategy for 2012-2014.

  • Asian shares retreat, oil near three-month high on Iraq concerns

    ASIA, 2014/06/12 Asian shares slipped on Thursday next Wall Street shares stepped back from record levels while civil war in Iraq supported oil prices. Japan's Nikkei share average (.N225) led the retreat, falling 0.9 % while MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.15 %. The S&P 500 (.SPX) lost 0.35 % to 1,943.89, its initial significant loss in about three weeks. As recently as Monday it hit a record closing high of 1,951.27. Some market players blamed a lower world increase estimate from the World Bank being used as grounds to sell while others said fighting in Iraq may have sapped investor appetite.

  • Tax issues to consider when sending staff to work in Myanmar

    MYANMAR, 2014/06/10 With the liberalisation of the political landscape in Myanmar, a lot of people have become aware of the significant potential of this economic frontier that was once closed to the world. A number of multinational corporations are exploring Myanmar and will bring in experienced expatriates to help build capabilities locally. This is not something new but, given Myanmar’s emerging-market status along with tax laws and practices that change frequently, vaguely written and as a result open to interpretation, investors need an up-to-date considerate of the tax situation. This article describes some of the additional significant issues arising from the employment of expatriates. Scope of Taxation: Expatriates working in Myanmar will be subject to personal gain tax from day one (subject to any applicable tax treaty provisions) but how much they will have to pay depends on their residence status.

  • RBI chief Raghuram Rajan reiterates call for global monetary coordination

    INDIA, 2014/05/28 Raghuram Rajan, reiterated on Wednesday what he said is the need for world central banks to be mindful of the impact of their unconventional monetary policy measures on other economies. Rajan proposed that central banks of advanced nations "internalise" the spillover effects from such policies to minimise volatility and disruptions in financial markets elsewhere.

  • The rupiah weakened on Wednesday afternoon by 166 points

    INDIA, 2014/04/24 The rupiah weakened on Wednesday afternoon by 166 points to 11,636 per US dollar, down from the previous 11,470. "Fundamentally, the rupiah is under pressure following China's contracting manufacturing data, worrying domestic financial market players about Indonesia's trade balance," Monex Investindo Futures analyst Zulfirman Basir said in Jakarta on Wednesday as quoted by Antara news agency. He said that investors were worried about the country's trade balance because China was one of Indonesia's major trade partners. The fluctuation of the rupiah in the domestic market was as well caused by political factors since investors were studying the possibility of coalitions that would shape the next government.

  • The inflation rate in Japan came in at 1.5 % on year in February,

    JAPAN, 2014/03/28 The inflation rate in Japan came in at 1.5 % on year in February, the Ministry of Internal Affairs and Communications said on Friday - in line with expectations and up from 1.4 % in January. Core inflation came in at 1.3 %, matching forecasts and unchanged from the previous month. Part the individual components, prices for fuel jumped 5.8 % on year, followed by furniture (2.1 %), food (2.0 %), recreation (1.6 %), clothing (1.3 %) and education (0.7 %). On a monthly basis, in general CPI was flat and core inflation was up 0.1 %.
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