Tag: Finance

  • Biden nominates Nisha Biswal as Dy CEO of US finance agency

    Biden nominates Nisha Biswal as Dy CEO of US finance agency

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    Washington: US President Joe Biden has announced his intent to nominate Indian-American policy expert Nisha Desai Biswal as Deputy Chief Executive Officer of the US International Development Finance Corporation (DFC).

    Biswal is presently the Senior Vice President for International Strategy and Global Initiatives at the US Chamber of Commerce, overseeing the US India Business Council and US Bangladesh Business Council.

    She brings over 30 years of experience in US foreign policy and international development programs within the Executive Branch, Congress, and the private sector.

    Having served as Assistant Secretary for South and Central Asian Affairs at the US Department of State from 2013 to 2017, Biswal oversaw the US-India strategic partnership during a period of unprecedented cooperation, including the launch of an annual US-India Strategic and Commercial Dialogue.

    She also initiated the C5+1 Dialogue with Central Asia and the US-Bangladesh Partnership Dialogue during her tenure as Assistant Secretary.

    Prior to that, she was Assistant Administrator for Asia at the US Agency for International Development (USAID), directing and supervising USAID programs and operations across South, Central, and Southeast Asia.

    She has also spent over a decade on Capitol Hill, working as Staff Director on the State and Foreign Operations Subcommittee on Appropriations as well as professional staff on the Foreign Affairs Committee in the House of Representatives.

    Biswal serves as the Chair of the Advisory Committee on Voluntary Foreign Aid and is on both the Board of the National Democratic Institute and the US Institute of Peace International Advisory Council.

    She is a member of the US Institute of Peace Afghanistan Study Group and the Aspen Institute’s India-US Track 2 Dialogue on Climate and Energy.

    Biswal is a graduate of the University of Virginia, where she studied International Relations and Economics.

    The US International Development Finance Corporation is America’s development finance institution. It partners with the private sector to finance solutions to the most critical challenges facing the developing world today.

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    #Biden #nominates #Nisha #Biswal #CEO #finance #agency

    ( With inputs from www.siasat.com )

  • Home Ministry has ‘stopped’ Delhi’s budget: Finance Minister

    Home Ministry has ‘stopped’ Delhi’s budget: Finance Minister

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    New Delhi: Delhi Finance Minister Kailash Gahlot on Monday alleged that the Union Ministry of Home Affairs has halted Delhi’s annual budget which was scheduled to be presented in Assembly on Tuesday.

    “For the first time in India’s history, the MHA has stopped the Delhi government from presenting its annual budget for 2023-24 on its scheduled date on March 21. The budget was sent for MHA’s approval as per regular practice well in advance on March 10,” he said.

    He said that the MHA expressed some concerns on Delhi government’s budget and refused to give it approval through a letter sent to the Chief Secretary on March 17.

    “For mysterious reasons, the Chief Secretary of Delhi kept the letter hidden for three days. I learned about the letter only at 2 p.m. today (Monday). The file with MHA’s letter was put up to me officially only at 6 p.m. today i.e. just the day before the budget was to be presented in Delhi Assembly,” the Gahlot said.

    The Finance Minister also said the government has responded to the MHA’s concerns and submitted the file back to Delhi’s LG, after CM’s approval at 9 p.m. The role of the Chief Secretary and Finance Secretary of Delhi in delaying Delhi’s budget ought to be investigated, he asked.

    “Nearly Rs 22,000 crores have been allocated for capital expenditure next year, whereas the allocation for advertisements is only Rs 550 crore, which is similar to that of last year. The concerns raised by the MHA are irrelevant and seemingly done only to scuttle the budget for next year of Delhi government,” he claimed.

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    #Home #Ministry #stopped #Delhis #budget #Finance #Minister

    ( With inputs from www.siasat.com )

  • Pak finance minister says technical reasons behind delay in deal

    Pak finance minister says technical reasons behind delay in deal

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    Islamabad: Pakistan’s Finance Minister Ishaq Dar said on Monday that certain technical reasons were behind the delay in an agreement with the IMF as he clarified that his recent remarks about the country’s nuclear and missile programme were being used out of context.

    His clarification hours after the International Monetary Fund (IMF) rubbished claims that it has attached nuclear-programme-related strings for the revival of Pakistan’s much-anticipated bailout programme that has been stalled for months.

    Dar last week said in the Senate that there would be no compromise on the country’s nuclear and missile programme. He made the comment in response to Senator Raza Rabbani’s questions about the delay in signing the agreement with the IMF.

    In a press statement, Dar said that his comments with regards to Pakistan’s nuclear programme were in response to a colleague Senator’s specific question, wherein, “I emphasised that Pakistan has the sovereign right to develop its nuclear programme, as it best suits our national interests. Without any external dictation, which, by no means should in any way whatsoever be linked with the ongoing negotiations with the IMF.”

    “It is clarified that neither the IMF nor any country has attached any conditionality or made any demand from Pakistan with regard to our nuclear capability and the delay in IMF staff-level agreement is purely due to technical reasons, for which we are continuously engaged with the IMF in order to conclude it at the earliest,” he said.

    Cash-strapped Pakistan is awaiting a much-needed USD 1.1 billion tranche of funding from the Washington-based global money lender, which was originally due to be disbursed in November last year.

    The funds are part of a USD 6.5 billion bailout package the IMF approved in 2019, which analysts say is critical if Pakistan is to avoid defaulting on external debt obligations.

    Pakistan, currently in the throes of a major economic crisis, is grappling with high external debt, a weak local currency and dwindling foreign exchange reserves enough to shore up for barely one month’s imports.

    Esther Perez Ruiz, IMF’s resident representative in Islamabad, has denied attaching any strings to the External Fund Facility (EFF), according to Geo TV.

    “Regarding recent speculation that programme discussions with the authorities for the ninth review under the IMF-supported programme may have covered Pakistan’s nuclear weapons programme, I want to be categorical that there is absolutely no truth to this or any insinuated link between the past or current IMF supported programme and decision by any Pakistani government over its nuclear programme,” the report said, quoting the official.

    The IMF chief said discussions have exclusively focused on economic policies to solve Pakistan’s economy and balance of payments problems, in line with the Fund’s mandate for promoting macroeconomic and financial stability.

    Apart from the IMF, Pakistan Tehreek-e-Insaf party’s Shah Mahmood Qureshi assailed Dar and demanded that Prime Minister Shehbaz Sharif issue a policy statement on remarks of Dar.

    “No one has the right to tell us what kind of nuclear programme we should have and missiles of which range we should have. We have our atomic arsenal South Asia-specific and to ensure our defence,” he said.

    The controversy erupted after Dar assured Parliament that the federal government would not make any compromise on the country’s nuclear and missile programme despite tough economic conditions and hurdles to secure a loan from the IMF.

    “Let me assure you that nobody is going to compromise anything on the nuclear or the missile programme of Pakistan no way,” Dar told Parliament last week.

    Dar also indirectly held Pakistan Tehreek-e-Insaf (PTI) party and its chief Imran Khan responsible for the delay in the IMF funding as he blamed the then government of Imran Khan for agreeing on tough conditions to get the funding.

    Separately, Prime Minister Shehbaz Sharif said that Pakistan’s nuclear programme was being “jealously guarded by the state”.

    Pakistan has been hosting the IMF mission since early February to negotiate the terms of the deal, including the adoption of policy measures to manage its fiscal deficit ahead of the annual budget due around June.

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    #Pak #finance #minister #technical #reasons #delay #deal

    ( With inputs from www.siasat.com )

  • Agreement with Iran doesn’t mean resolving all differences: Saudi finance minister

    Agreement with Iran doesn’t mean resolving all differences: Saudi finance minister

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    Riyadh: The Kingdom of Saudi Arabia’s foreign minister Faisal bin Farhan made it clear that the agreement to resume diplomatic relations with Iran does not mean “resolving all outstanding differences between the two countries,” Anadolu Agency reported.

    Saudi foreign minister said in remarks to Arabic daily Asharq Al-Awsat on Monday that the agreement came “under the auspices and mediation of China, after several rounds of talks over the past two years in both Iraq and the Sultanate of Oman.”

    However, he adds, “Our reaching this agreement, which will lead to the resumption of political relations, does not mean that we have reached a solution to all outstanding differences between our two countries, but rather it is evidence of our common desire to resolve them through dialogue.”

    Regarding his upcoming visit to Tehran, the minister said, “I look forward to meeting Iran’s foreign minister soon based on what was agreed upon, and we will prepare to resume diplomatic relations between our two countries during the next two months.”

    On Friday, Saudi Arabia and Iran announced the resumption of diplomatic relations between the two countries, and the reopening of embassies within two months, following Chinese-sponsored talks in Beijing according to a tripartite statement of the three countries.

    In January 2016, Saudi Arabia severed its relations with Iran, following attacks on the Riyadh embassy in Tehran and its consulate in Mashhad, in protest against the kingdom’s execution of Saudi Shiite cleric Nimr Baqir al-Nimr, on charges including terrorism.

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    #Agreement #Iran #doesnt #resolving #differences #Saudi #finance #minister

    ( With inputs from www.siasat.com )

  • Finance Minister Nirmala Sitharaman Presents Rs 118500 Crore Budget For J&K – Check Here – Kashmir News

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    Rs 41,491 crore for development expenditure; Rs 77,009 crore for revenue expenditure

    Srinagar, Mar 13 : Union Finance Minister Nirmala Sitharaman on Monday unveiled Rs 1,18,500 crore budget for Jammu & Kashmir Union Territory for the next financial year.

    As per documents laid in the Parliament today, the total budget estimates for the fiscal is Rs. 1,18,500 crore, of which developmental expenditure is of the order of Rs. 41,491 crore.

    “The capital component of the budget has increased substantially. The expected revenue receipts are Rs 1,06,061 crore whereas Revenue expenditure is expected to be Rs 77,009 crore, thereby making available revenue surplus for capital expenditure to the tune of Rs 29,052 crore,” reads the budget document.

    This was the fourth consecutive budget of Jammu and Kashmir to be presented in the Parliament. The budgets of 2020-21, 2021-22, and 2022-23 were also presented in the Parliament in absence of an elected government in the Union Territory—(KNO)


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    #Finance #Minister #Nirmala #Sitharaman #Presents #Crore #Budget #Check #Kashmir #News

    ( With inputs from : kashmirnews.in )

  • Second leg of Budget session from Monday; Govt says priority to pass Finance Bill

    Second leg of Budget session from Monday; Govt says priority to pass Finance Bill

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    New Delhi: The second leg of the Budget session will commence on Monday with the government asserting that its priority is to pass the Finance Bill and the Opposition planning to raise issues like the action of central agencies against the BJP’s political rivals and allegations against the Adani group.

    Leader of Opposition in Rajya Sabha and Congress President Mallikarjun Kharge asserted that they want to play a constructive role in making the government accountable and sought a discussion in the House on “every burning issue facing the nation”.

    Rajya Sabha Chairperson Jagdeep Dhankhar sought views of leaders of various political parties on ways to curb disruptions in the House at a meeting held on Sunday.

    Opposition members raised the issue of alleged misuse of central agencies against non-BJP governments and the move to appoint Dhankhar’s personal staff on parliamentary committees.

    The opposition parties will meet on Monday morning to evolve their strategy in both Houses of Parliament after protests by them on the Hindenburg-Adani issue overshadowed most of the first half of the Budget session.

    Manickam Tagore, Congress Whip in Lok Sabha, told PTI that his party wants the Opposition to take a united stand.

    “We will continue to raise people’s issues – price rise, LPG cost, Adani, misuse of agencies, farmers issues, governors’ intervention. We will continue to work with all like-minded parties. Tomorrow’s meeting is called for the purpose as we want the Opposition to be united.”

    Congress leader K Suresh maintained that his party would continue to demand answers from the government on the Adani-Hindenburg issue as it has been keeping a studied silence.

    The principal opposition party has been pressing for a Joint Parliamentary Committee (JPC) probe.

    The opposition parties are also likely to vociferously raise the issue of recent raids by the CBI and the ED against their leaders, some of whom were questioned and even arrested in various cases. They have accused the BJP-led government at the Centre of misusing the central agencies to target leaders of the BJP’s rival parties.

    Minister of State for Parliamentary Affairs Arjunram Meghwal told PTI on Sunday that the top-most priority for the government is the passage of the Financial Bill.

    He said discussions will be held on demands for grants of ministries including Railways, Panchayati Raj, Tourism, Culture and Health. Speaker Om Birla will later apply the guillotine, after which all the outstanding demands for grants, whether discussed or not, will be put to vote and passed.

    “Then we will get the Finance Bill passed. After that we’ll look into the demands of the Opposition… the first responsibility of the government is to get the Finance Bill passed. Then we will hold discussions on issues the Opposition’s demands,” he said.

    The session, which began on January 31, is likely to conclude on April 6. Parliament is meeting after a month-long recess which allows various parliamentary panels to scrutinise allocations made in the Union Budget for different ministries.

    On Monday, Finance Minister Nirmala Sitharaman will present Supplementary Demands for Grants – Second Batch for 2022-23.

    She will also table the budget for the Union Territory of Jammu and Kashmir for the year 2023-24 in Lok Sabha. The UT is at present under central rule.

    The two items are listed in the order paper of Lok Sabha for Monday.

    Leader of the Opposition in Rajya Sabha Kharge and Dhankhar also had a one-on-one meeting on Sunday.

    “Met @VPIndia, ahead of the forthcoming session of the Parliament to seek his cooperation,” Kharge said in a tweet.

    “We as Opposition parties are keen to play a constructive role in making the Government accountable and would want discussion on every burning issue facing the nation,” he said.

    Kharge had on Friday accused the Narendra Modi government of making “sinister attempts to kill democracy” by misusing probe agencies against opposition leaders, as he slammed the Centre over the ED searches on the premises of former Bihar chief minister Lalu Prasad’s family.

    The Samajwadi Party, the Left and the DMK were among those who protested against the alleged attack on the federal structure and the “misuse” of institutions.

    The Trinamool Congress will raise in Parliament issues such as LIC and SBI’s risk exposure, price rise of essential commodities, unemployment and “misuse” of central agencies during the second phase of the session, its Rajya Sabha floor leader Derek O’Brien had recently said.

    He said LIC’s risk exposure and price rise affect the lives of the common man and their savings and should be highlighted.

    The TMC will also raise the issue of “political vendetta” against non-BJP ruled states in Parliament and also question the Union government on “holding back of funds for schemes such as MNREGA”, O’Brien said.

    At the meeting with Dhankhar, several floor leaders raised the issue of the appointment of his personal staff on parliamentary committees.

    The vice president responded by saying that the sole purpose behind the move was to achieve optimisation of human resources and the output of committees.

    The staffers were not participating members of the committee and are just there to assist, facilitate and provide research material, he was quoted as saying.

    Dhankhar, sources said, asserted that he was committed to improving the functioning of the committees.

    At the all-party meeting, AAP raised the issue of alleged misuse of investigative agencies and the Adani-Hindenburg matter.

    Its leader and former deputy chief minister of Delhi Manish Sisodia has been recently arrested by the CBI and the ED in cases related to the alleged Delhi excise policy scam. Former Delhi health minister Satyendar Jain is already in jail on charges of money laundering.

    The opposition parties are also gearing up to corner the government on issues such as the China border row and unemployment.

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    #leg #Budget #session #Monday #Govt #priority #pass #Finance #Bill

    ( With inputs from www.siasat.com )

  • JKSSB: Download Admit Cards For The Post Of Accounts Assistant Finance – Direct Link Is Available Now – Kashmir News

    JKSSB: Download Admit Cards For The Post Of Accounts Assistant Finance – Direct Link Is Available Now – Kashmir News

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    Downloading of Admit Cards for the Post of Accounts Assistant Finance.

    The Link for the downloading of Admit Cards for the post of Accounts Assistant Finance has been made live and is available on the official website www.jkssb.nic.in. A total of 80432 number of Admit Cards have been downloaded by the Candidates in the first 24 hours. However, the Board has received few representations regarding, Application ID not being available with the candidates. The Board has already provided the FORGOT APPLICATION ID Option for addressing the issue.

    The following procedure shall be followed by such Candidates to retrieve the Application ID:

    1. Visit the Official Website ( jkssb.nic.in )
    2. Click on the Link for Downloading Of Admit Cards.
    3. Select Accounts Assistant in the Drop-Down Menu.
    4. Click on FORGOT APPLICATION ID Option.
    5. Select Accounts Assistant in the Drop-Down Menu.
    6. Enter Father’s Name and Date of Birth in YYYYMMDD Format.
    7. Click on SUBMIT.
    8. Application ID will be displayed on the Screen

    CLICK HERE – TO DOWNLOAD PDF CALENDER 2023

     


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    #JKSSB #Download #Admit #Cards #Post #Accounts #Assistant #Finance #Direct #Link #Kashmir #News

    ( With inputs from : kashmirnews.in )

  • Pak finance minister hopeful of signing bailout deal with IMF this week

    Pak finance minister hopeful of signing bailout deal with IMF this week

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    Islamabad: Pakistan’s Finance Minister Ishaq Dar vowed on Thursday that the government was “absolutely committed” to completing the current USD 7 billion bailout programme with the IMF, once again indicating that the cash-strapped country could sign the staff-level agreement with the global lender this week.

    The Pakistan government is in a race against time to implement measures to reach an agreement with the International Monetary Fund (IMF) as the country has reserves barely enough for three weeks of essential imports, while hotly contested elections are due by November, Dawn newspaper reported.

    Addressing a seminar organised by the Finance Ministry here, Dar said: “My team and I have decided that, in a short period of time, we will implement and we will discharge all the sovereign commitments that the previous government had made.” Pakistan and the IMF have been holding virtual talks after the two sides held 10 days of intensive negotiations with an IMF delegation in Islamabad from January 31 to February 9, which failed to reach an agreement.

    He recalled that the coalition government was handed over an economy “in a shambles”.

    “To top it [off], the previous government (led by Imran Khan) had agreed to a loan facility which was extended by the IMF. But instead of honouring the commitments, they reversed some conditionalities before leaving office. This led to a serious trust deficit [between the lender and Pakistan],” he highlighted.

    However, the minister went on to say, the government had realised that these obligations were not made by an individual but by the sovereign state of Pakistan and decided to honour the commitments.

    “We have been in the process of the 9th review which has taken longer than it should have […] we seem to be very close to signing the staff-level agreement, hopefully in the next two days,” Dar added.

    The agreement with the IMF on the completion of the ninth review of a USD 7 billion loan Extended Fund Facility programme — which has been delayed since late last year over a policy framework — would not only lead to a disbursement of 1.2 billion but also unlock inflows from friendly countries.

    The prerequisites by the lender are aimed at ensuring Pakistan shrinks its fiscal deficit ahead of its annual budget around June.

    Pakistan has already taken most of the other prior actions, which included hikes in fuel and energy tariffs, the withdrawal of subsidies in export and power sectors, and generating more revenues through new taxation in a supplementary budget.

    Prime Minister Shehbaz Sharif announced a slew of austerity measures last month, including cabinet members forgoing their salaries, paying their own bills, banning the purchase of luxury vehicles from 2024, and slashing the current expenditure by 15 per cent, among others.

    The finance minister further said that Pakistan’s economic difficulties were compounded by the devastating 2022 floods, which caused physical and economic losses of nearly USD 30 billion.

    The floods, which inundated a third of Pakistan, destroying land, crops, and infrastructure, left more than 1,700 persons dead.

    “But despite the fiscal constraints and limitations, the federal and provincial governments have jointly allocated Rs 452 billion for relief and rehabilitation work of flood affectees.

    “This persistent fake propaganda regarding the country defaulting on its international obligations is completely ill-founded and null […] in fact it harms the country,” he maintained, adding that “petty politics” was only doing more harm to the cash-strapped country.

    Dar said that he had been appealing to the political parties to sit together and sign a charter of economy, but regretted that it always fell on “deaf ears.”

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    #Pak #finance #minister #hopeful #signing #bailout #deal #IMF #week

    ( With inputs from www.siasat.com )

  • Former Greek Finance Minister Varoufakis attacked in central Athens

    Former Greek Finance Minister Varoufakis attacked in central Athens

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    ATHENS — Former Greek Finance Minister Yanis Varoufakis was attacked in central Athens late on Friday, suffering a broken nose, cuts and bruises.

    The assault, which his party DiEM25 described as a “brazen fascist attack,” took place while Varoufakis was dining in the central Exarchia district with party members from all over Europe.

    “A small group of thugs stormed the place shouting aggressively, falsely accusing him of signing off on Greece’s bailouts with the troika [the country’s bailout creditors],” DiEM25 said in a statement. “Varoufakis stood up to talk to them, but they immediately responded with violence, savagely beating him while filming the scene.”

    Politicians from across the political spectrum swiftly condemned the assault in Varoufakis, the motorbike-riding, leather-jacket-wearing politician who became well-known as the country’s finance minister in 2015.  

    As part of the left-wing Syriza-led Greek government, Varoufakis battled the so-called troika and Europe-imposed austerity. While the Greek administration eventually capitulated and signed a bailout agreement, Varoufakis quit government and founded a cross-border far-left political movement, DiEM25.

    “They were not anarchists, leftists, communists or members of any movement,” Varoufakis said in a tweet early Saturday. “Thugs for hire they were (and looked it), who clumsily invoked the lie that I sold out to the troika. We shall not let them divide us.”

    The Exarchia neighborhood has a reputation for being a bastion of self-styled anarchists. Varoufakis was publicly harassed in 2015 while dining in the same district at the height of the financial crisis.

    Greek Minister of Citizen Protection Takis Theodorikakos said police would take all measures to identify and arrest the perpetrators of Friday’s attack. He noted that the DiEM25 leader, “at his own initiative, was not accompanied by his personal police detail” while at the restaurant.

    Greece has been hit by the biggest mass demonstrations since the eurozone crisis in recent days, as Greeks have taken to the streets almost on a daily basis to protest the country’s deadliest train crash, ramping up pressure on the conservative New Democracy government ahead of coming elections. The wave of public rage follows a train collision on February 28 that killed 57 people and raised profound questions about the management of the rail system.

    The train crash has also sparked deeper questions about the functioning of the Greek state and fresh anger against the political system.

    “Let us please stay focused: We are mourning the 57 victims of rail privatization. We support the spontaneous youth rallies, the greatest hope that Greece can change. See you at the demonstrations,” Varoufakis tweeted, as another big rally is scheduled for Sunday.



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    ( With inputs from : www.politico.eu )

  • Dubai Duty Free Millennium Millionaire: Keralite finance manager, 55, wins Rs 8.18 cr

    Dubai Duty Free Millennium Millionaire: Keralite finance manager, 55, wins Rs 8.18 cr

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    A 55-year-old Qatar-based Indian expatriate from Kerala won the grand prize of one million dollars (Rs 8,18,32,00) in the latest Dubai Duty Free Millennium Millionaire draw that took place on Saturday evening, March 4.

    The winner of the draw Abdul Rauf Mullali Kunnontakath— won one million dollars in Millennium Millionaire Series 416 after buying the lucky ticket number 1771, which he had purchased online on February 16.

    Abdul Rauf Mullali Kunnontakath, works as finance manager for building maintenance in Doha. He has been living in Doha for the past 25 years and has been participating in Dubai Duty-Free promotions since 2018.

    “I’ve been buying tickets to your promotion since 2018 and with only 5,000 tickets on sale, unlike other similar promotions from other duty-free retailers, I knew I had a better chance of winning in your promotion, and I was right as it finally happened! Thank you so much, Dubai Duty-Free!,” Kunnontakath was quoted as saying by Khaleej Times.

    Kunnontakath, is the 207th Indian to win one million dollars since the launch of the Millennium Millionaire Show in 1999. Indian nationals make up the highest number of buyers of Millennium Millionaire Dubai Duty-Free tickets.

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    #Dubai #Duty #Free #Millennium #Millionaire #Keralite #finance #manager #wins

    ( With inputs from www.siasat.com )