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The move is aimed at ensuring that a basic support system is put in place to cater to the needs of Indias ageing population which is expected to go up from 10% now to 19.5% by 2050. It is of the view that while catering to the needs of the elderly population of this size is challenging, it also presents an opportunity for the growth of the senior care industry, which is presently estimated at Rs 57,881 crore

China's new "economic tsar" He Lifeng is emerging as one of President Xi Jinping's most powerful lieutenants, but some sources say he is yet to gain the standing of his predecessor in financial markets and the diplomat community. He, 68, replaced internationally respected Liu He as one of China's four vice premiers during its annual parliament session in March. The full scope of his portfolio had been largely unclear until Sunday when state media referred to him as the director of a powerful Com

  Discussions Focus on Financial Reforms and Debt Restructuring. In a crucial meeting held during the United Nations General Assembly (UNGA) in New York, Managing Director of the International Monetary Fund (IMF), Ms. Kristalina Georgieva, met with President, Ranil Wickremesinghe, to discuss vital economic matters. During the meeting, Ms. Georgieva and President Wickremesinghe delved into...

Four years after Lebanon’s historic meltdown began, the small nation is still facing “enormous economic challenges,” with a collapsed banking sector, eroding public services, deteriorating infrastructure and worsening poverty, the International Monetary Fund warned Friday. In a statement issued at the end of a four-day visit by an IMF delegation to the crisis-hit country, the international agency welcomed recent policy decisions by Lebanon's central bank to stop lending to the state and end the work in an exchange platform known as Sayrafa. The IMF said that despite...

Japan extended a $100 million loan to help Jordan's electricity sector reforms as part of Tokyo's support for the kingdom's IMF-guided reforms, officials said on Sunday. "Japan will continue our support for Jordan in its economic and financial reforms and further modernization," Foreign Minister Yoshimasa Hayashi said in joint remarks with his Jordanian counterpart Ayman al Safadi at the start of a visit to Jordan. Japan is one of Jordan's main donors, contributing over $4 billion in loans, aid and technical support in recent decades.