Bhutan Financial News

NEW DELHI : India may allow exports of another 50,000 tonnes of non-basmati white rice to Singapore under humanitarian operations, making an exception for one of its key diplomatic partners, two government officials said. India recently permitted limited exports of the rice variety, which is currently under the prohibited category, to the UAE and last month to Bhutan, Mauritius and Singapore. These countries appealed to New Delhi to resume rice exports following India’s decision to suspend non-basmati shipments on 20 July to keep prices in check.

Rajiv Kumar on Tuesday signed a Memorandum of Understanding (MoU) with Electoral Commission Chairperson of Seychelles Danny Lucas on 'Electoral Cooperation' in the capital of Seychelles. The MoU was signed to boost the exchange of best practices in election management and training officials. Taking to their social media 'X', the Election Commission of India stated, "#ECI Expands Electoral Collaboration.

non-basmati rice to Bhutan (79,000 tonnes), Mauritius (14,000 tonnes), and Singapore (50,000 tonnes) through the National Cooperative Exports Ltd (NCEL). "The Government of India has the commitment that in case of food insecure, vulnerable countries and neighboring countries request, it will provide with the required quantity of rice or wheat," he said.

Chief Justice of India DY Chandrachud on Saturday said it was «utopian» to think that there could ever be a day when the «delivery of justice» will not be challenged. Addressing the inauguration of the International Lawyers' Conference 2023 in the national capital on Saturday, the CJI also underlined the «pivotal role» played by India in raising Supreme Court buildings in Mauritius and Bhutan. The CJI, however, said it is realistic to aspire to a world where nations, institutions and, most importantly, individuals are open to engaging with each other. «Each one of us has volumes to learn from different jurisdictions, perspectives, and most importantly each other..,» CJI Justice Chandrachud said at the inauguration of the International Lawyer's Conference on Saturday. Inaugurated by Prime Minister Narendra Modi at Vigyan Bhawan on Saturday, the inauguration was also attended by Union Law Minister Arjun Ram Meghwal. He said the programme will witness the participation of distinguished judges, legal professionals, and leaders of the global legal fraternity over the next two days. «It is utopian to think that there will be a day when we will find perfect solutions and no challenge to justice delivery.

On Wednesday, Sept. 20, the United States House Financial Services Committee marked up two bills to curb the issuance of a central bank digital currency (CBDC). One of the bills would stop the Federal Reserve from running any test programs on CBDCs without congressional approval, while the other would stop federal banks from using CBDCs for some services and products. 

State-owned hydro power giant NHPC’s board on Tuesday approved the appointment of Raj Kumar Chaudhary as its Director (Technical).

Buddhism have also helped modern policymakers strengthen India's soft power by developing cultural ties that are felt throughout South, Southeast, and East Asia, The Bhutan Live reported. India, the place of origin of Buddhism, has a close spiritual connection to the faith. Scholars and priests travelled throughout far-off nations on pilgrimages while carrying the Buddha's teachings during the height of India's supremacy.

Elon Musk said in 2021 that Tesla would accept Bitcoin payments once miners were using roughly 50% clean energy sources “with positive future trend” — a benchmark that may have recently been met.

₹5,809.91 crores from ₹3,056.22 crores in the previous year. Among its key international subsidiaries, UOH Inc owning US hotels registered a turnover of ₹657.69 crores and St.

India's allotment of Rs 120 billion for the extensive expansion and modernization of railway infrastructure in the northeastern region of the country will boost the eagerly awaited first-ever Bhutan-India railway link, Bhutan Live reported on Saturday. The Bhutan-based media outlet reported the fully funded Indian government's estimated Rs 10 billion project of 57.5-kilometre railway line will connect Kokrajhar in Assam to Gelephu in Sarpang, Bhutan. The project's anticipated completion date is set for 2026. Just a month ago, India's External Affairs Minister, S.

₹120 Billion for the extensive expansion of railway infrastructure in the north eastern region. This move will facilitate the much awaited first-ever Bhutan-India railway link, Bhutan Live reported. The fully funded Indian government’s estimated ₹10 billion project of 57.5-kilometre railway line will connect Kokrajhar in Assam to Gelephu in Sarpang, Bhutan.

heatwave was unprecedented and the most intense in the last 70 years, severely affecting millions of people in South Asia, according to new research from India. Such heatwaves are expected to increase in the near future, enhancing heat accumulation in the region and threatening food, water and energy security in the region, the study from institutes including IIT-Gandhinagar and IIT-Jodhpur, said. South Asia faced five continuous heatwave spells that lasted about 35 days during late February and April 2022, affecting a large part of the region. The heatwave lasted for a longer duration and had more spells than the historical heatwave events, compared to the historical heatwave events during 1950-2021, the study published in Environmental Research Letters said. Exceptional heating with more than 3.9 degrees Celsius rise in maximum temperature was experienced by majority region of South Asia, which includes countries such as Afghanistan, Pakistan, Bhutan, Nepal and Sri Lanka, along with India, the study found after analysing observational datasets from National Oceanic and Atmospheric Administration, US, and European Centre for Medium-Range Weather Forecasts Reanalysis version 5 (ERA5). The study projected an increase in frequency of mega heatwave, more severe than that of 2022, in a warming planet under all types of emissions scenario.

Unified Payments Interface (UPI) has the potential to scale almost ten times and reach a couple of billion transactions a day by 2030, National Payments Corporation of India (NPCI) chief executive officer Dilip Asbe said on Tuesday. Asbe’s comments come as UPI transactions in the country hit the 10-billion mark in August.

Power Finance Corporation (PFC) on Monday signed a pact to provide Rs 1,229 crore term loan to Assam Petrochemicals to implement a 500 tonnes per day methanol plant at Namrup and 200 tonnes per day formalin plant at Boitamari in Assam. «PFC and Assam Petrochemicals Ltd (APL) signed a loan agreement on September 4, 2023, for extending a term loan of Rs 1,229 crore for the implementation of 500 Tons Per Day (TPD) Methanol Plant, including their 11 MW Captive Power Plant (CPP) at Namrup and 200 TPD Formalin Plant, including their Captive 0.90 MW power plant at Boitamari in Assam at an estimated Project Cost of Rs 1,827 Crore,» a PFC statement said. The 500 TPD Methanol Plant, including 11 MW CPP, was inaugurated by the Prime Minister on April 14, 2023, on completion. The project, including the 200 TPD Formalin Plant, is scheduled to commence commercial operation by March 31, 2024.

The Balipara Foundation, in collaboration with Conservation International, has unveiled a project titled 'The Great People's Forest of the Eastern Himalayas'. This initiative aims to raise $1 billion to plant one billion trees and restore a vast one million hectares of land across the Eastern Himalayas spanning Northeast India, Bhutan, Bangladesh, and Nepal.

NEW DELHI : India on Wednesday permitted exports of limited quantities of non-basmati white rice to Bhutan, Mauritius and Singapore, according to a notification by Directorate General of Foreign Trade. Bhutan will get 79,000 tonnes, Mauritius 14,000 tonnes and Singapore 50,000 tonnes, even as the export ban imposed on 20 July remains in place. The export will be done through National Cooperative Exports Ltd, a government export body which was set up under the Multi-State Cooperative Societies (MSCS) Act, 2002 to export agriculture produce and allied items.

white rice to Bhutan, Mauritius and Singapore, and allocated export quotas for the kitchen staple. The Directorate General of Foreign Trade, in a notification, said that exports of 79,000 metric tons of non-basmati white rice would be allowed to Bhutan, 50,000 tons to Singapore and 14,000 tons to Mauritius. “Export of non-Basmati white rice…to Bhutan, Mauritius and Singapore is notified,” the DGFT said in a notification. Last month, India prohibited the export of non-basmati white rice but said that exports will be allowed on the basis of permission granted by the government to other countries to meet their food security needs and based on the request of their governments. The exports have been permitted through National Cooperative Exports Limited. India exported $2.2 billion of non-Basmati white rice in FY23 of which $87 million worth of the staple was shipped to Nepal and $38 million to Singapore.

NEW DELHI : India and Bangladesh are expected to hold a trial locomotive run on the Akhaura-Agartala railway line and push the operationalization of the crucial link between the two countries. Reports have indicated that both sides hope to operationalize the line by the end of this year. Tripura’s transport Mminister Sushanta Chowdhury stated in April that both sides would like to have the link operational by September this year.

New Delhi: India and New Zealand are discussing introducing Unified Payments Interface (UPI) in the island nation, which would promote ease of doing business, trade and tourism between both countries, the commerce ministry said in a statement on Tuesday. "Ministers (Indian and New Zealand trade ministers) welcomed early discussions between National Payments Corporation of India (NPCI) and Payments NZ regarding the Unified Payments Interface (UPI) system and agreed that both sides should continue deliberations on this issue," the statement said.

India has a tremendous opportunity to expand its manufacturing base due to the current supply chain relocation triggered by geopolitical situation, and the country should grab the opportunity with both hands, says Punit Renjen, CEO-emeritus of Deloitte Global and the incoming chairman of SAP. In an interview to ET's Surabhi Agarwal & Bodhisatva Ganguli, he also talks about his «second innings» at SAP, and how the enterprise software major will significantly expand its India base from the current 17-18% of workforce. He believes that this is India's century and AI will help India further bridge the skills and education gap. Edited Excerpts:How has the transition been from an audit/consultancy business to SAP, which is a storied enterprise software company? I'm a big cricket fan.

Bhutan is taking steps to rejuvenate its tourism sector, which continues to grapple with the aftermath of COVID-19 restrictions. In a bid to boost the industry, the Himalayan kingdom has decided to reduce the daily fee charged to tourists by half, seeking to attract visitors and bolster an economy that heavily relies on this sector. Notably, Bhutan introduced a «Sustainable Development Fee» of $200 per visitor per night after the conclusion of two years of COVID-related restrictions in September the previous year.