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The Latest Breaking News from Ministry of Finance

Asian Stocks Rally Fades As Japan Debt Sale Disappoints

Asian equities wobbled Wednesday as investors struggled to track a Wall Street rally fuelled by forecast-beating US consumer confidence data, with a weak Japanese debt sale adding to worries about rising bond yields.

International Business Times

This Is Wednesday's Most Important Economic Indicator

Japan's Ministry of Finance may reduce the issuance of superlong bonds as a way to combat rising yields.

Investors Business Daily

Qatar vows USD 10 billion investment in India

Following the visit of Qatar's Amir, Sheikh Tamim Bin Hamad Al Thani, India and Qatar have taken a significant step forward in their bilateral relations. Read further on Dynamite News:

Dynamite News

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Read full List: Huge reshuffle in Union Bureaucracy; many Secretaries changed; Rachna Shah appointed as New Secretary of DoPT, Arunish Chawla as Revenue Secretary, Vineet Joshi as Higher Education

The Appointments Committee of the Cabinet (ACC) has approved transfers of many senior IAS officers on Wednesday. Read full list on Dynamite News:

Dynamite News

Major Reshuffle in Union Bureaucracy: Nagaraju Maddirala will be DFS Secretary, Deepti Umashankar Secretary to the President of India, Rajesh Singh Defence Secretary, Katikithala Srinivas Secretary MoHUA, Punya Salila Srivastava Health, Amardeep Singh Bhatia Secretary DPII and Vivek Joshi appointed as Secretary DoPT

Narendra Modi Government on Friday approved a series of significant appointments in various departments including Nagaraju Maddirala as the new Secretary of Department of Financial Services (DFS).

Dynamite News

Huge reshuffle in Govt of India, Vivek Joshi appointed as Secretary, DoPT

Vivek Joshi has been appointed as Secretary, in The Department of Personnel and Training in Central Government. Read further on Dynamite News:

Dynamite News

Transitional Ruling Council Finally Forms In Anarchic Haiti

A governing council tasked with filling a leadership vacuum in Haiti and restoring a semblance of order was formerly installed Friday in the Caribbean nation that has been rocked by an explosion of gang violence.

International Business Times

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Dollar Modestly Higher on Weakness in the Euro

The dollar index (DXY00 ) this morning is up by +0.09%. Dovish ECB comments today undercut the euro and gave the dollar a boost. Gains in the dollar are limited after the yen recovered from a 33-year low and moved higher on speculation that Japanese authorities may soon intervene in...

Barchart

Roadmap for 2047 should include an average growth of 7% to 7.5%, says senior Finance Ministry official

India aims to become a developed nation by 2047, with a focus on financial sector reforms to create stability, resilience and efficiency.

The Hindu

United States and China launch economic and financial working groups with aim of easing tensions

The U.S. Treasury Department and China’s Ministry of Finance have launched a pair of economic working groups in an effort to ease tensions and deepen ties between the nations

The Independent UK

Details of unaccounted-for wealth highly classified: Government

National Institute of Public Finance and Policy (NIPFP) refused to reveal information on unaccounted income/wealth inside/outside India, citing economic interest of country.

The Hindu

Andhra Pradesh: Finance Ministry approves proposal to release ₹12,911 crore for completion of Polavaram project up to 41.15 metres

The Ministry of Finance gives its in-principle nod for release of ₹2,000 crore towards the cost of repairing the damages caused to the irrigation project by the Godavari floods

The Hindu

BoT to regulate auto leasing

The cabinet on Tuesday approved a law to allow the Bank of Thailand to regulate the business of leasing cars and motorcycles to strengthen consumer protection and tackle household debt, the Ministry of Finance said.

Bangkok Post

Indonesians query tax official’s wealth after viral assault video

Tax official’s finances investigated after a video appearing to show his son attacking a teen spreads online.

Al Jazeera

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Chicago Tribune

Commentary: Ukraine should not abandon its domestic debt market as it battles Russia

The financial support provided by international partners helped Ukraine withstand the beginning of Russia’s full-scale invasion and became a significant source of funds throughout 2022. This year, our country will also need continuous financial support. However, it will be difficult for the government to reduce budget expenditures because direct injections…

Bangkok Post

Finance Ministry maintains growth outlook, expects more tourists

The Ministry of Finance has maintained its economic growth outlook for 2023 at 3.8%, buoyed by a rebound in tourism and domestic demand, but an official said exports would slow down this year.

Reuters

Japan Finance Minister Suzuki to visit Singapore, Vietnam next week

Japanese Finance Minister Shunichi Suzuki is set to visit Singapore and Vietnam to meet with high government officials from Jan. 10 to 13, the Ministry of Finance said on Friday.

Asharq Al-Awsat

Saudi Energy Minister: OPEC+ Adopts Economic Approach that Keeps Politics Out

Saudi Energy Minister Prince Abdulaziz bin Salman said that the OPEC+ operated according to a purely economic perspective, without entering into political aspects and alliances. “OPEC+ operates from an economic position and does not get involved in political aspects,” he said on Sunday. The minister’s comments came during the sessions…

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Asharq Al-Awsat

UAE Issues Decree-Law Imposing a Corporate Tax

The United Arab Emirates has issued a decree-law imposing a corporate tax at a 9 percent rate for taxable business income exceeding 375,000 dirhams ($102,000). The tax will apply to all firms from June. 1 next year. The UAE’s Ministry of Finance confirmed the Federal Decree-Law on Taxation of Corporations…

Newslaundry

Modi government violated rules to allow sale of electoral bonds, RTI reply shows

The Narendra Modi government opened three windows for the sale of electoral bonds in 2018 ostensibly in violation of the Electoral Bond Scheme 2018, suggest documents accessed through the Right to Information Act. The three windows were opened before and after assembly elections in nine states that year.

The Guardian - AU

Vanuatu officials turn to phone books and typewriters, one month after cyber attack

Government websites and email still offline, leading to delays in payments and services across the country

Caixin Global

Citic to Become Biggest Huarong Shareholder

State-owned investment company to get 3% from Finance Ministry, pushing its Huarong stake to 24.46% after leading $6.6 billion bailout of the bad-debt manager

Asharq Al-Awsat

Saudi Arabia Promotes Institutions’ Investments

Saudi Arabia issued a decision allowing establishments to engage as partners in all types of corporate commercial entities, in a step that aims at facilitating the business environment and contributing to the expansion of their income. In a statement on Monday, the Saudi Ministry of Commerce said that the decision…

Bangkok Post

Loan guarantees okayed for Oil Fund

A cabinet proposal for the Ministry of Finance to provide loan guarantees worth up to 150 billion baht to the Oil Fuel Fund has won approval in the House of Representatives, despite criticism expressed in a House debate prior to Wednesday's vote.

Asharq Al-Awsat

On Behalf of King Salman, Saudi FM to Represent Kingdom at Arab Summit

On behalf of Custodian of the Two Holy Mosques King Salman bin Abdulaziz, Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah will represent the Kingdom at the two-day Arab League summit that will kick off in Algeria on Tuesday. Prince Faisal departed the Kingdom on Tuesday at the head…

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