Tag: international
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Sri Lanka’s Crisis-Hit Country Gets $ 700 Million From The World Bank
The largest funding tranche since the IMF agreement in March, the World Bank has granted USD 700 million in financing to assist Sri Lanka in recovering from the present economic crisis and providing assistance to the poor and vulnerable people. Cash-strapped Currently, Sri Lanka is experiencing the greatest economic crisis in its history.
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Reliance Cap Lenders Support Hinduja Group Company
The Hinduja Group company IndusInd International Holdings Ltd (IIHL), which made the highest cash offer of Rs 9,661 crore in the second round of bidding, has received support from Reliance Capital’s debt-ridden lenders. As many as 98% of the votes were in support of IIHL because lenders anticipated receiving Rs 9,661 crore in cash up…
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Domestic tour operators applaud the government’s decision to delay the increase of TCS on international packages
On Thursday, domestic tour operators applauded the government’s decision to postpone the increase in tax collection at source on international travel packages until September 30 -31, but they emphasised that it should be lowered to 2.5%. The government was thanked for “giving partial relief by deferring Tax Collection at Source (TCS) on the overseas tour…
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Pakistan Avoids Default and Reaches Long-Awaited Agreement With IMF for Loan Program of $3 Billion
Pakistan has secured preliminary clearance from the International Monetary Fund for a $3 billion loan package, reducing the possibility of a sovereign default and providing short-term assistance to its economy on the verge of collapse. The Washington-based lender said in a statement on its website that the staff-level agreement is dependent on approval by the…
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What Does It Mean for Travellers If Credit Card Transactions Abroad Failed to Attract TCS?
The government said on Wednesday that foreign credit card transactions would no longer be subject to tax collected at source (TCS) since they will no longer be included in the Liberalised Remittance Scheme (LRS). This is a major relief for consumers who use international credit cards.
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India’s Contributions To The 6G Technology Framework Are Accepted By UN Telecom Body ITU
India’s contributions to the 6G technological framework have been acknowledged by the UN’s International Telecom Union, demonstrating the nation’s critical role in the creation of the newest high-speed technology, according to a statement released on Thursday. According to the ITU-APT Foundation of India (IAFI), the Indian government was instrumental in gaining acceptance for ubiquitous connectivity…
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Government bans importation of lighters costing less than 20 rupees
To prevent incoming shipments of the goods, the government on Thursday made it illegal to import cigarette lighters if the cost per unit is less than Rs 20. “The import policy of cigarette lighters is amended from ‘free’ to ‘prohibited’. However, if CIF value is Rs 20 or more per lighter, import is free, according…
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Early Trade Sees Sensex, Nifty Touch New All-Time High Levels
The early trading on Friday saw benchmark stock indexes reach new all-time highs, aided by foreign capital inflows and a favourable trend in the international markets. Investments in index heavyweights Infosys and HDFC Bank also contributed to the markets’ ability to keep winning.
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Pakistan receives first IMF lending programme clearance of $3 billion
Pakistan and the International Monetary Fund (IMF) have agreed to a staff-level stand-by agreement worth $3 billion, the lender said. The South Asian country, which is on the verge of default, has long anticipated this decision.