Japan unveils $103 billion relief package to combat rising prices
The relief package will consist of steps to deal with rising prices such as subsidies to gasoline wholesalers and cash payouts to low-income households.
ECONOMIC AFFAIRS
UK cuts all tariffs on Ukraine, bans more exports to Russia
Britain boosted its sanctions regime against Russia, targeting army chiefs and adding import bans on silver, wood products, and caviar.
Concern rising over slowing overseas Filipino workers remittance growth
An economist early this month said that remittances’ impact on consumer spending would be tempered by elevated inflation and depleting savings amid the prolonged Covid-19…
Proposals to spur domestic investment will be studied: Malaysia PM
The proposals include studying the feasibility of reducing bureaucracy, streamlining investment initiatives, better management of foreign labour, among others.
India’s vice-president calls upon exporters to explore newer markets
Pointing out that India is a young nation, he also stressed the need to fully realize the potential of the demographic dividend.
Edible oil imports hit Rs100 billion even though Nepalis are not guzzling it
Less than 20 percent of the edible oil that Nepal imports is consumed in the country, with the remaining re-exported, almost all to India.
Inflation in South Korea 2nd highest in region: IMF
The International Monetary Fund said inflation would hit 4% this year, second behind only New Zealand, in partly due to the war in Ukraine.
Indonesia to ban exports of cooking oil, ingredients
President Joko Widodo said in a video statement that the ban would last for an “unspecified time” but be continuously evaluated.
Cambodian poverty rate rises to 17% due to Covid pandemic
A major factor was the restrictions imposed by the international community on Cambodia’s textile and agriculture sectors.
Indonesia’s AGO blames corruption for cooking oil scarcity
A Foreign Trade Director General had allegedly issued export permits illegally for palm oil producers leading to a scarcity of cooking oil.