Moody’s Lowers India’s 2022 Growth Projection To 8.8 Percent

NEW DELHI, May 27 (NNN-PTI) – Global credit rating agency, Moody’s, yesterday slashed India’s economic growth projection to 8.8 percent for 2022, from its earlier projection of 9.1 percent, citing high inflation as the main reason. It said that, the growth momentum at the end of 2021 had carried through…

Myanmar Bans Use Of Foreign Currency For Local Payments

YANGON, May 26 (NNN-MNA) – The Central Bank of Myanmar (CBM), yesterday banned foreign currency for local payments, to stabilise the foreign exchange rate in the country. The bank asked government agencies to pay with only Myanmar kyat, saying, the use of foreign currencies for domestic payments could lead to…

Hydrogen-Powered Electric Bus To Begin Trial In Aussie State

SYDNEY, May 26 (NNN-AGENCIES) – The Australian state of New South Wales (NSW) announced yesterday that, its first trial of a hydrogen-powered electric bus will begin later this year, in a transition to zero-emission technology. The government is partnering with local and national industry suppliers, to test the future fuel…

Myanmar’s Farmers Provided With Macadamia Saplings, Husking Machines Under LMC Special Fund

YANGON, May 26 (NNN-MNA) – Farmers in central Myanmar’s Pyin Oo Lwin town, have been recently provided with macadamia saplings and husking machines, under the Lancang-Mekong Cooperation (LMC) Special Fund, the Chinese Embassy to Myanmar said, in a statement, yesterday. The Lancang-Mekong Region Macadamia Farmers’ Agricultural Production and Technical Development…

S.Korea Raises Interest Rate To 1.75 Percent

SEOUL, May 26 (NNN-YONHAP) – South Korea’s central bank, today, raised its policy rate by 25 basis points, delivering the first back-to-back rate hikes in almost 15 years, to curb runaway inflation. Bank of Korea (BOK) Governor, Rhee Chang-yong, and other monetary policymakers, decided to lift the benchmark seven-day repurchase…

Agricultural Expo Displays Major Products From Southern Vietnam

HO CHI MINH CITY, May 26 (NNN-VNA) – An agricultural expo is being held in southern Vietnam’s Ho Chi Minh City (HCMC), displaying major agricultural products from the country’s southern area. The expo hosts 160 booths, showcasing products, including orchids, bonsai, mushrooms and fertilisers from HCMC and other localities in…

Vietnam’s Inflation May Surpass Four Percent This Year: Banks

HANOI, May 26 (NNN-VNA) – Vietnam is expected to make a stronger economic recovery in 2022, with GDP growth at 5.5 to six percent, but inflation may stand at 3.8 to 4.2 percent, said a report released yesterday. The country will enjoy higher GDP growth and keep inflation under four…

Karot Hydropower Project To Generate Eco-Friendly, Cheap Electricity: Pakistani PM

ISLAMABAD, May 26 (NNN-APP) – Pakistani Prime Minister, Shahbaz Sharif, said yesterday that, the Karot Hydropower Project, a major pilot project under the China-Pakistan Economic Corridor (CPEC), will generate environment-friendly and cheap electricity, promoting green development in Pakistan. “Hydroelectricity is much more cost-effective … it is also a clean source…

High Time For Malaysia To Invest, Increase Trade Ties With Africa – Ambassador

KUALA LUMPUR, May 25 (NNN-Bernama) — Malaysia which has long ties with African countries has been urged to focus on Africa for more trade, investment, tourism and educational ties as the world’s second-largest continent offers numerous opportunities and vast potential for natural resources to be explored for mutual benefits. In…

India Regulates Sugar Exports To Control Prices, Ensure Availability

NEW DELHI, May 25 (NNN-PTI) – India’s federal government, today announced regulation on exports of sugar, in a bid to maintain domestic availability and ensure price stability of sugar in the country. According to an official statement, the federal government decided to cap the export of sugar at 10 million…
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