Some Good News
Good News from India
India’s Ranking Jumps 23 Places to 77 in World Bank’s Doing Business Survey. India climbed to rank 77 in the World Bank’s Ease of Doing Business 2019 survey. The rise is attributed to streamlined processes for building approvals, improved building quality controls, the introduction of GST and reduced application process to start new businesses among other factors.
1 November 2018
US Grants Sanction Waivers to India for Oil Imports from Iran. The US government agreed to let eight countries, including India, keep buying Iranian oil after re-imposing sanctions on Tehran. Last fiscal, India bought about 22 million tonnes of oil from Iran, or almost 10 per cent of its total imports.
2 November 2018
India to Host G20 Summit in 2022. For the first time ever, India will host the G20 Summit; in 2022, coinciding with country celebrating its 75th year of Independence. Collectively, the G20 economies account for nearly 90 per cent of the gross world product, 80 per cent of world trade, two-thirds of the world population, and approximately half of the world land area.
2 December 2018
Good News from China
China’s Import Expo Logs US$58bn of Deals. Around $58 billion worth of trade deals were agreed at the recently concluded China International Import Expo (CIIE). The development comes on the back of Chinese President Xi Jinping’s pledge to lower tariffs, broaden market access and import more from overseas.
10 November 2018
China to Allow Overseas Firms to Participate in Credit Info System. China will allow overseas credit information firms to participate in a nationwide credit information monitoring system that the central bank is building. China’s existing, centralized credit scoring system, the Credit Reference Center, only covers about 300 million people out of around 800 million potential borrowers, which creates a blind spot of about half a billion borrowers.
22 November 2018
China, India Hold Talks to Resolve Border Disputes. Chinese and Indian officials made progress during the 21st round of border talks to achieve an early solution to the ongoing border dispute. This was the first round of talks for Mr Wang, who is also the Foreign Minister, after he succeeded State Councillor Yang Jiechi earlier this year.
26 November 2018