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Budget 2025: Govt may cut income tax rates to lift consumption, says report

The move could benefit tens of millions of taxpayers, especially city dwellers burdened by high living costs, if they opt for a 2020 tax system that strips exemptions like housing rentals

Nato calls for investigation of Azerbaijan Airlines crash that killed 38

An Embraer passenger jet crashed near the city of Aktau in Kazakhstan on Wednesday, killing 38 people

US weekly jobless claims fall 1,000 to 219,000: Labour department

Initial claims for state unemployment benefits fell by 1,000 to a seasonally adjusted 219,000 for the week ended Dec. 21, the Labor Department said

China revises up 2023 GDP by 2.7%, sees little impact on 2024 growth

In previous five-yearly economic censuses, China revised up the size of the economy for 2018 by 2.1 per cent and for 2013 by 3.4 per cent

Banks' balance sheets stay robust, bad loans decline more: RBI report

The report said that net bad loans of banks fell to 0.57 per cent of total loans at September-end, from 0.62 per cent at end-March, driven by stronger loan-loss buffers

Russian bank VTB says on track for record profit of $5.5 billion in 2024

Bank said it was still on track to hit profit target of 550 billion roubles in 2024 despite a significant depreciation in the value of many of its assets in November as a result of monetary tightening

Russia's CBRF to resume regular forex operations under budget rule in 2025

Under Russia's budget rule, the finance ministry sells foreign currency from its rainy day National Wealth Fund (NWF) to make up for any shortfall in revenue from oil and gas exports

World Bank raises China's GDP forecast for 2024, 2025; adds some warnings

Thanks to the recent policy easing and near-term export strength, the World Bank sees China's gross domestic product growth at 4.9 per cent this year, up from its June forecast of 4.8 per cent

Foiled Ukrainian plots to kill senior officials, their families: Russia

FSB, the main successor to the Soviet-era KGB, said that the Russian citizens had been recruited by the Ukrainian intelligence services

South Korea opposition says it will vote to impeach acting President Han

The court is trying the impeachment of President Yoon Suk Yeol over his Dec 3 declaration of martial law

China's first batch of 2025 fuel export quota flat compared to a year ago

State-owned oil firms Sinopec and CNPC, the key receivers of these quotas, were given combined allowances of 13.34 million tonnes, or 70 per cent of the 19 million tonnes

China approves construction of world's largest hydropower dam in Tibet

The dam, which will be located in the lower reaches of the Yarlung Zangbo River, could produce 300 billion kilowatt-hours of electricity annually

South Korea's Constitutional Court to decide fate of impeached president

Constitutional Court must decide within 180 days whether to remove Yoon from office or reject the impeachment and restore his powers

Rupee likely to stay near record lows as strong dollar, US yields weigh

Long term US yields are at multi-month highs, further boosting the greenback

Asia shares rise in holiday trade as dollar holds near two-year high

As the year-end approaches, trading volumes have begun thinning out and the main focus for investors remains that of the Federal Reserve's rate outlook

Russia's inflation at 9.5% amid rising prices of essentials, shows data

Inflationary expectations among households for the coming year also reached 13.9 per cent in December, the highest level since the beginning of the year

Japan's budget to hit record, but with reduced new bond issuance: Report

Tax revenue is projected to rise 8.8 trillion yen from this year's initial estimate to a record 78.4 trillion yen, thanks in part to a recovery in corporate profits, according to the draft

Russia says pipeline gas, LNG exports to Europe up by 18-20% in 2024

Russian pipeline gas exports to Europe face serious challenges

China issues 19 mn metric tons of fuel under 2025 1st batch export quota

China manages its refined oil exports via a strict quota system, using exports as a tool to balance and ensure the domestic market is sufficiently supplied

KKR and Bain each bid over $5 bn for Seven & i's York Holdings spin-off

KKR offered around 800 billion yen ($5.1 billion) for York Holdings, an entity due to be spun out of the Japanese retailer, two of the people said