Category: South Asia

DHAKA, May 20, 2013 (AFP) – Bangladeshi police fired rubber bullets and tear gas at thousands of garment workers Monday as they demanded a wage hike at a protest in a manufacturing hub outside the capital Dhaka.Police said they reacted after workers blocked a key highway in the Ashulia industrial area, home to hundreds of […]

NEW DELHI, May 18, 2013 (AFP) – India faces at least “a one-in-three” chance of losing its prized sovereign grade rating, global ratings agency Standard and Poor’s has warned, in another blow to the scandal-tainted Congress government.The agency said it may also cut India’s ratings if it concludes that Asia’s third-largest economy will not revert […]

Feb 20, 2013 (LBO) – Malaysia’s AirAsia said has sought approval from authorities in India to form a joint venture budget carrier with Tata group and another investor, Arun Bhatia of Telestra Tradeplace. AirAsia pulled out of Colombo this year. “AirAsia is confident that it can replicate its unprecedented success across Malaysia, Thailand, Indonesia and […]

Feb 05, 2013 (LBO) – Afghanistan’s economy is estimated to have grown at a blistering 12 percent rate in 2012 helped by lower inflation of 6 percent and a good harvest, the International Monetary Fund said. Afghanistan was expected to submit a value added tax law to parliament and also fix Kabul Bank. The IMF […]

Dec 07, 2012 (LBO) – The Asian Development Bank has downgraded the growth forecast for South Asia by 0. 2 percent to 5.3 percent in 2012 and 6.2 percent in 2013 on a slowing Indian economy. China is expected to grow 7.7 percent (8.1 percent next year) and South East Asia 5.3 percent (5.5 percent […]

NEW DELHI, Oct 28, 2012 (AFP) – Indian Prime Minister Manmohan Singh appointed Salman Khurshid as his new foreign minister as he brought seven new faces into cabinet Sunday in the biggest reshuffle since his 2009 re-election. Khurshid, 59, replaces the 80-year-old S. M. Krishna as the top diplomat and his post as the law […]

Oct 16, 2012 (LBO) – Asian Development Bank, a regional multilateral lender said it will open an office in the South Asian nation of Bhutan in early 2013 with economic growth expected to reach 8.4 percent in the current year. “To understand Bhutan’s needs, and the development challenges it faces, ADB needs an on-the-ground presence,” […]

Sept 20, 2012 (LBO) – A 12 percent or five Indian rupees per litre hike in diesel in prices in will reduce India’s subsidy cost by 200 billion rupees in the year to March 2013, Standard and Poors’ said. India has also rationed the issue of subsidized liquefied petroleum gas to six 14.2 kilogram cylinders […]

June 22, 2012 (LBO) – International Finance Corporation, a member World Bank arm has said 86 percent of three million apparel sector workers in Bangladesh did not have bank accounts, potentially opening up a large new market for banks. “This report shows that there is a considerable opportunity in offering a range of financial services […]

June 04, 2012 (LBO) – An ‘India Show’ will be held in Colombo from August 3, coinciding with a visit bay Indian minister of commerce and industry Anand Sharma to the island to boost trade and investment amid currency trouble in both countries. The Indian High Commission (embassy) said more than 100 Indian firms are […]

May 22, 2012 (LBO) – India’s rupee fell to a new low of 55.06 against the US dollar Tuesday after trading curbs were slapped on forward and swap markets. Earlier in May the central bank limited intra-day open positions of banks. Trimming open positions, especially overnight positions, which narrows the depth of forex markets can […]

May 22, 2012 (LBO) – The Maldives has seen a slight increase in the number of holidaymakers to the atoll nation in April, after political unrest kept tourists away earlier this year, official data showed Tuesday. The atoll nation, welcomed 79,288 visitors in April, a tad lower than 79,947 who visited the country in the […]