Page 5 - Economy
Pak economy to grow at above 4% despite many challenges: PM Imran
Khan chaired a meeting of the Macro Economic Advisory Group
 "Pak economy to grow at above 4% despite many challenges: PM Imran")
MF disclaimers should flow at same speed as rest of ad: Piyush Goyal
The commerce minister, who also holds the consumer affairs portfolio, added that he is willing to change the regulations if needed
 "MF disclaimers should flow at same speed as rest of ad: Piyush Goyal")
Omicron-induced curbs may pull down Q4 GDP by 10-30 bps, say some experts
Many others agree on the likelihood of damage, but don't offer numbers, saying it is too early and difficult to put estimates in such a changing environment
 "Omicron-induced curbs may pull down Q4 GDP by 10-30 bps, say some experts")
Mutual fund industry assets surge 30% to Rs 36.17 trillion, shows data
Top players, such as Axis MF, Nippon India MF, and Kotak Mahindra MF, grew their AAUM by 32-43 per cent in a year
 "Mutual fund industry assets surge 30% to Rs 36.17 trillion, shows data")
Singapore's economy grew by 7.2% in 2021, rebounding from 5.4% in 2020
Singapore's Ministry of Trade and Industry announced on Monday that based on advance estimates, the country's GDP grew by 7.2 per cent in 2021, rebounding from the 5.4 per cent contraction in 2020.
 "Singapore's economy grew by 7.2% in 2021, rebounding from 5.4% in 2020")
Housing sales up 71% to 236,530 units in 2021 in top-seven cities
The demand fell short of pre-Covid levels
 "Housing sales up 71% to 236,530 units in 2021 in top-seven cities")
2022: Indian economy sets sail with growth hopes even as headwinds remain
After navigating pandemic waves, recovering Indian economy is now sailing through rising coronavirus cases, spiralling commodity prices and spiking inflation though sustainable growth remains visible.
 "2022: Indian economy sets sail with growth hopes even as headwinds remain")
Foreign-owned assets in India increased by $37.3 bn during Sept qtr: RBI
The assets stood at USD 927.1 billion at September-end, up from USD 895.2 billion in June quarter
 "Foreign-owned assets in India increased by $37.3 bn during Sept qtr: RBI")
Assam: Headway likely in boundary row, big boost to connectivity expected
Decades-old inter-state boundary disputes and militancy problems are expected to make a significant headway in 2022
 "Assam: Headway likely in boundary row, big boost to connectivity expected")
World Bank loans $221 mn to Vietnam for economic recovery from Covid-19
The World Bank has signed an agreement with Vietnam in the amount of $221.5 million to finance the country's recovery from the coronavirus pandemic.
 "World Bank loans $221 mn to Vietnam for economic recovery from Covid-19")
Japan, Taiwan agree to bolster cooperation in field of economic security
Japan and Taiwan on Friday agreed to bolster cooperation in the field of economic security with an emphasis on supply chain resiliency for semiconductors and other crucial goods
 "Japan, Taiwan agree to bolster cooperation in field of economic security")
UK economy, biz huffing and puffing in just a year of Brexit
The prime minister had hailed the signing of the trade accord as the moment when Britain took back control of its destiny
 "UK economy, biz huffing and puffing in just a year of Brexit")
Japan overstated GDP component data for years, inflating growth figures
The Japanese government overstated construction orders data received from the industry for years, PM sid, in a practice that may have had the effect of inflating the country's economic growth figures.
 "Japan overstated GDP component data for years, inflating growth figures")
Japan govt approves tax plan with focus on incentives to raise wages
The Japanese government has approved a tax plan for the fiscal year 2022, which focused on encouraging businesses to raise wages through tax incentives
 "Japan govt approves tax plan with focus on incentives to raise wages")
S Africa's economy to grow just 2% in 2022 as power shortages crimp exports
South Africa's economy is set to grow by just 2% in 2022, less than half the pace seen this year, as consumers rein in spending and electricity constraints dampen exports
 "S Africa's economy to grow just 2% in 2022 as power shortages crimp exports")
Gig economy workers set to receive employee rights under EU proposal
App-based gig work platforms have boomed in the digital economy, especially during the Covid-19 pandemic
 "Gig economy workers set to receive employee rights under EU proposal")
Piyush Goyal urges steel makers to address small industries cost concerns
The minister also said Goyal said that special care of MSMEs needs to be taken for easier and cost effective supply of steel
Japan offers 30% tax break to big companies that hike wages by 4%
Its economy contracts 3.6% sequentially in third quarter
 "Japan offers 30% tax break to big companies that hike wages by 4%")
Japan economy contracts 3.6% in Q3 on weaker consumer spending, trade
Japan's economy contracted at a 3.6% annual rate in July-September, according to a revised estimate released Wednesday.
 "Japan economy contracts 3.6% in Q3 on weaker consumer spending, trade")
Japan PM vows to ensure workers' wage hikes, guard them against inflation
Japanese PM Fumio Kishida vowed to ensure workers' wage hikes through tax breaks to protect the economy from the impact of rising global inflation
 "Japan PM vows to ensure workers' wage hikes, guard them against inflation")
