The 55th meeting of the GST Council, chaired by Finance Minister Nirmala Sitharaman and comprising state counterparts, is likely to discuss rate rejig in about 148 items, besides, it will also deliberate on bringing Aviation Turbine Fuel (ATF), a major component for airline industry’s operation cost, in the Goods and Services Tax (GST) fold. The … Read more
Kano South Senatorial District lost two commissioners in the state Executive Council following the replacement of the five commissioners sacked by Governor Abba Yusuf on Monday. The governor submitted the names of six commissioner-nominees to the state House of Assembly for confirmation. The governor reshuffled the cabinet on Thursday, firing Abdullahi Baffa, the secretary to … Read more
China’s semiconductor sector saw a steep one-third decline in funding inflows this year amid US restrictions on advanced chips and overcapacity concerns in legacy chips, according to data from a local industry research firm. In the first 11 months of 2024, the country’s chip industry recorded 677 investment deals, a decline of 35.9 per cent … Read more
New Delhi: The government on Sunday said that based on the recommendations of 15th Finance Commission (XV-FC), Rs 71,889 crore has been released to the states under various heads for FY 2024-25. The 15th Finance Commission had recommended the grants-in-aid of Rs 71,889 crore to the state governments under heads like grants to local bodies; … Read more
President Xi Jinping has issued a slew of economic-centric instructions in the past week, at a time all eyes are watching Beijing’s stimulus package aimed at shoring up China’s economy. The latest message from Xi was conveyed on Sunday in the northeastern city of Tianjin during an event to celebrate the 40th anniversary of China’s … Read more
The House of Representatives has directed the Bureau for Public Enterprise (BPE) to account for about N10 billion expended on the failed subsidiaries of the Nigeria Postal Service (NIPOST). Bamidele Salam, Chairman, House Committee on Public Accounts, made the call on Monday in Abuja at the resumed investigative hearing of the committee.“No reasonable Nigerian will … Read more
On China’s social media platforms last week, a recording surfaced that revealed a side of the country’s debt crisis that has largely gone unreported. The recording is presented as a conversation between an unnamed representative of a medical technology company and a market regulation enforcement officer, surnamed Zhang, from Chengwu county in eastern China’s Shandong … Read more
ELIGIBILITY The Finance Ministry said that eligible recipients of the cash and MediSave GSTV payouts will automatically receive the payments if they have signed up for government disbursement schemes. Citizens may check their eligibility for the benefits at the govbenefits website – govbenefits.gov.sg – by logging in with their Singpass. Those who have not previously signed … Read more
Auto components industry body ACMA on Monday called for incentivising capex expenditure, increasing depreciation rates on plant and machinery and rationalising GST rates on EVs and its components, ahead of the upcoming Budget 2024-25. In its recommendations submitted to the Ministry of Finance and the nodal ministry for automotive industry, the Ministry of Heavy Industries, … Read more
SINGAPORE: About 300,000 Pioneer Generation seniors will receive MediSave top-ups amounting to a total of more than S$150 million (US$111 million) next month, the Ministry of Finance (MOF) said on Friday (Jun 7). The MediSave top-ups are provided in addition to the annual GST Voucher-MediSave top-ups given to eligible Singaporeans aged 65 and above. MediSave … Read more
