Biz Updates: India, UK could hold next round of talks on FTA deal in October, The Maldives-China FTA will take effect from 1 January 2025

New Delhi| The Asian Development Bank has assured Pakistan that it will provide a new loan of US$ 2 billion annually to the cash-strapped country. This information was given in a media news on Tuesday. Due to Pakistan’s poor rating the government is unable to get cheap loans.

Asian Development Bank (ADB) Chairman Masatsugu Asakawa gave this assurance during talks with Pakistani officials on Monday, the Express Tribune newspaper quoted officials of Pakistan’s Ministry of Economic Affairs as saying. Asian Development Bank (ADB) Chairman Masatsugu Asakawa gave this assurance during talks with Pakistani officials on Monday, the Express Tribune newspaper quoted officials of Pakistan’s Ministry of Economic Affairs as saying.

The report said that despite the agreement at the staff level with the International Monetary Fund (IMF), Pakistan has shown frustration in taking loans in recent years. He’s making deals for loans at high interest rates-these rates range from 7 percent to 11 percent. Three international credit rating agencies have kept Pakistan below the investment grade, which is a major hurdle for the country to enter foreign capital markets.

Karnataka Chief Minister Siddaramaiah on Tuesday said the state government plans to develop Kalaburagi as a smart city with an estimated investment of Rs 1,685 crore, which will improve the living standards of its residents and attract investment in backward districts.

He said that Rs 200-200 crore is being made available for infrastructure development in Kalaburagi and Ballari Municipal Corporations under Mahatma Gandhi Nagar Vikas Yojana 2.0. The Chief Minister delivered his address on the occasion of ‘Kalyan Karnataka Amrit Mahotsav’ and the 10th anniversary of the granting of special status to Kalyan Karnataka under Article 371 (J) of the Constitution after hoisting the national flag at the Police Parade Ground here.

He said that although India gained independence in 1947, the districts of Bidar, Kalaburagi and Raichur, which came under the rule of the Nizam of Hyderabad, gained independence only a year later. He said the Kalyan Karnataka region joined the country because of the sacrifices of many freedom fighters, the “foresight” of Jawaharlal Nehru and the “power” of Sardar Vallabhbhai Patel.

Mumbai Police has registered a case against 13 Congress workers for allegedly protesting without permission outside the SEBI office at Bandra Kurla Complex. A case has been registered against 13 Congress workers, including Mumbai Youth Congress president Akhilesh Yadav, for protesting against SEBI chairperson Madhavi Puri Buch on Monday, the official said.

He said that according to the complaint lodged by an officer of BKC police station, Congress workers raised slogans and showed placards outside the SEBI office without taking permission from the police. A case has been registered under relevant provisions of the Maharashtra Police Act and the Indian Code of Justice (BNS) and further investigation is underway, the official said. Congress has recently made several allegations against the SEBI chief and her husband, alleging conflict of interest involving a consultancy firm related to them.

Maldives announced on Tuesday that the FTA with China will take effect from January 1, 2025, and its implementation is expected to increase bilateral trade to US$1 billion. Maldives Economic Development and Trade Minister Mohammed Saeed told a press conference at the President’s Office here that the Free Trade Agreement (FTA) with China will provide significant benefits to Maldives, including increased opportunities for export of various commodities and additional services. Including providing.

The next round of talks for the proposed free trade (FTA) agreement between India and Britain is expected in October. The purpose of this conversation is to resolve the pending issues and finalize the talks. On Tuesday, Commerce Secretary Sunil Barthwal said that British officials are informing their new ministers about the proposed Free Trade Agreement (FTA). Both sides have already taken stock of the progress of talks at the Secretary and Ministerial levels. Barthwal said, the work of giving information is going on in Britain, they are giving information to their new ministers and on the basis of that talks will start. We hope that the negotiations will resume in October. He also said that India is making progress on all FTAs, but there are some things which are not under anyone’s control. India-UK negotiations for the proposed FTA had begun in January 2022. The 14th round of talks stalled due to general elections in both countries.