Finance Acts

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Inflation Reduction Act Should Be Named ‘Exactly the Opposite,’ Will Have ‘Disastrous Effects’: Finance Professor

The Epoch Times 14 Aug 2022

The Democrats’ Inflation Reduction Act will not reduce inflation as claimed and might end up harming the American economy, a finance professor said in ...

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Commerce ministry proposes new law to revamp SEZs

The Telegraph India 14 Aug 2022

The official said the commerce ministry has sought views of different ministries, including finance, on the new bill ... The existing SEZ Act was enacted in 2006 with an aim to create export hubs and boost manufacturing in the country ... Presenting the Budget 2022-23 , Finance Minister Nirmala Sitharaman had said.

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New law for SEZs: Commerce ministry proposes host of incentives to revamp Special Economic Zones

The Times of India 14 Aug 2022

The official said the commerce ministry has sought views of different ministries, including finance, on the new bill ... The existing Act was enacted in 2006 with an aim to create export hubs and boost manufacturing in the country ... Presenting the Budget 2022-23 , Finance Minister had said.

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DOTr, Chinese embassy agree to restart talks on rail projects

Manila Standard 14 Aug 2022

Earlier, Transportation Undersecretary for Railways Cesar Chavez said the Chinese government did not act on the Duterte administration’s request for loan financing for three major railway projects, which meant these were considered withdrawn and needed to be renegotiated by the incumbent government.

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Sindh govt least bothered as varsities, educational boards running on ad hoc basis

The News International 13 Aug 2022

As a result of the government’s negligence, nine universities of Sindh are deprived of permanent vice chancellors (VCs), 17 universities have no directors of finance, five education boards have no permanent chairmen and eight education boards are deprived of permanent controllers and secretaries.

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Improved Agri-Agra Law a win for the economy

The Manila Times 13 Aug 2022

One of the 110 laws that lapsed into effectivity at the end of last month was Republic Act (RA) 11901, or the "Agriculture, Fisheries and Rural Development Financing Enhancement Act of 2022," which corrects most of the flaws of the previous version of the Agri-Agra Act, and ...

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CCI approves acquisition of stake in IIFL Home indirectly by ADIA Group

The Times of India 13 Aug 2022

The proposed transaction relates to the acquisition of up to 20 per cent stake in IIFL Home Finance by Platinum Owl C 2018 RSC Ltd, a trustee acting for Platinum Jasmine Trust ... of IIFL finance Ltd.

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Letter of Intent received from IMF

The News International 13 Aug 2022

Sources said the Ministry of Finance received the LoI on Friday and they were reading each paragraph of the document ... After reading it carefully, Finance Minister Miftah Ismail and Acting Governor State Bank of Pakistan Dr Murtaza Syed would sign it and send it back to the IMF’s executive board for getting its final nod.

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HP’s outstanding debt-GSDP ratio much above the target set by 15th FC: CAG

Financial Express 13 Aug 2022

The HP-FRBM Act was required to be amended to prescribe revised targets for deficit and debt levels ... Against the target of maintaining the revenue surplus prescribed by the 15th Finance Commission (FC) and in HP-FRBM Act, there was revenue deficit (Rs 97 crore) during 2020-21.

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British Giant Asset Manager Invests In A Crypto Exchange

Coinnounce 13 Aug 2022

Asset managers in traditional finance are increasingly scrutinizing ways to leverage the digital asset industry ... Archax aims to provide permits for blockchain-based digital assets for institutional investors, acting as a bridge to traditional finance.

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CCI clears Adani buyout of Holcim stake in ACC

The Telegraph India 13 Aug 2022

The proposed transaction relates to the acquisition of up to a 20 per cent stake in IIFL Home Finance by Platinum Owl C 2018 RSC Ltd, a trustee acting for Platinum Jasmine Trust ... In June, IIFL Home Finance, a subsidiary of IIFL Finance, had entered into definitive agreements to ...

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As financial collapse looms, Westminster puts tax measure on November ballot

The Los Angeles Times 13 Aug 2022

Officials say the raises were a necessary step to retain staff who are concerned about the city’s finances and leaving for better-paying jobs elsewhere ... She noted the possible cuts to public safety services, adding that police officers are already transferring to other cities because of Westminster’s uncertain finances.

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Legislation expected to revive US technology

Albuquerque Journal 13 Aug 2022

And, apart from direct spending on semiconductor development, the act authorizes $170 billion over 10 years to finance, among other things, technology research and development, workforce training, and the establishment of public-private partnerships around the country to create ...

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Beyond rightsizing government, President Marcos must build state capacity

The Manila Times 13 Aug 2022

Building state capacity must involve raising the legitimacy and effectiveness of state institutions by freeing regulatory agencies from the control of interest groups and enabling them to act autonomously ... The veto message explained that it is contrary to Republic Act 10963 or the "Tax Reform Acceleration and Inclusion Act.".

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Will the Inflation Reduction Act actually reduce inflation?

Lebanon Express 13 Aug 2022

WASHINGTON (AP) — With inflation raging near its highest level in four decades, the House on Friday gave final approval to President Joe Biden's landmark Inflation Reduction Act ... More on the Inflation Reduction Act. ... Inflation Reduction Act may have little impact on inflation ... Personal Finance ... What's in the 'Inflation Reduction Act'?.