By News Desk
WASHINGTON/ LAHORE: US senators have introduced a bipartisan bill to promote and generate economic benefits for Pakistan and Afghanistan by establishing Reconstruction Opportunity Zones along Afghanistan and Pakistan border.
The bill is called the ‘Pakistan-Afghanistan Economic Development Act’. The legislation proposes the set up of a reconstruction opportunity zones along Pak-Afghan border areas. “The bill would establish Reconstruction Opportunity Zones (ROZs) in Afghanistan and Pakistan’s border regions to allow certain products from these areas to enter the US duty-free,” a statement read.
The bipartisan bill was introduced by Democrat Senators Van Hollen, Maria Cantwell and Republican Senator Todd Young. The outlined objectives of the say that fostering trade with the Pakistan-Afghanistan border region will help bolster economic development and improve the livelihoods of local populations.
Finance Ministry reduces 2021 economic growth forecast to 2.3%
Finance Ministry reduces 2021 economic growth forecast to 2.3%
BANGKOK: The Finance Ministry has reduced its 2021 economic growth forecast for a second time, now from 2.8% down to 2.3% growth, in light of the third wave of coronavirus infections in Thailand this month.
Photo: NNT
Fiscal Policy Office (FPO) Director-General Kulaya Tantitemit said the ministry slashed its forecast for the number of foreign tourists to only 2 million this year from 5mn it had predicted three months ago, reports state news agency NNT.
She said the expected fewer tourists will have quite an impact as that will cut tourism money to just over B100 billion from B260bn previously projected.
BANGKOK, April 30 (Reuters): Thailand recorded a current account deficit of US$0.8 billion in March after a deficit of US$1.07 billion in the previous month, the central bank said on Friday.
Exports, a key driver of growth, rose 15.8% in March from a year earlier after February s 0.2% drop.
However, Thailand s finance ministry on Thursday reduced its 2021 economic growth forecast to 2.3% from the 2.8% growth it projected earlier, an official said, after a third wave of coronavirus infections struck.
The ministry raised its 2021 forecast for exports, however, a key growth driver, to an 11% rise from the 6.2% increase predicted in January, senior ministry official Kulaya Tantitemit told a briefing.
Construction on multimillion-dollar Ōpōtiki harbour infrastructure project starts
30 Apr, 2021 02:00 AM
3 minutes to read
Aerial veiw of Ōpōtiki Harbour. Photo / File
Rotorua Daily Post
A milestone for Bay of Plenty jobs, businesses and regional economic development is being marked as construction gets under way on the multimillion-dollar Ōpōtiki harbour infrastructure project.
Economic and Regional Development Minister Stuart Nash has joined Whakatōhea iwi, local councils and representatives of the aquaculture and marine industry at a ceremony with Prime Minister Jacinda Ardern to celebrate the beginning of the harbour construction. We are today celebrating the growth of a community which is now able to move from strength to strength, Nash said.
Stocks remain on ropes as economic uncertainty deepens
Business
April 30, 2021
Capital market rout prevailed amid volatile trade as investors continued to pull out, bracing for further tightening of economic activities owing to worsening virus situation, dealers said.
Pakistan Stock Exchangeâs (PSX) KSE-100 Shares Index shed 0.44 percent or 196.01 points to close at 44,863.11 points, while volumes shrank to 280.67 million shares from 305.7 million on Wednesday.
Brokerage Topline Securities in a note said after a slight positive opening the market traded sideways in thin volume, making an intraday low of 278 points.
Investors were concerned about rising Covid-19 cases and rise in smart lockdowns following a meeting of NCOC (National Command Operation Center), it added.