Latest news with #stateownedcompanies
Bloomberg
27-06-2025
- Business
- Bloomberg
Romania Plans Higher Property, Dividend Taxes to Curb Budget Gap
Romania's premier outlined fresh measures to cut the ballooning budget deficit as the new government seeks to safeguard the country's investment-grade rating and ease investor concern. The Black Sea nation plans to raise dividend and property taxes from next year, as well as put more emphasis on the performance of state-owned companies, according to Prime Minister Ilie Bolojan. These steps will be in addition to previously announced moves, including a temporary levy on 'excessive' bank profits, higher excise duties and ending some exemptions to value-added tax.
Reuters
18-06-2025
- Business
- Reuters
India markets regulator eases rules for foreign investors who only buy government bonds
MUMBAI, June 18 (Reuters) - India's markets regulator on Wednesday reduced the regulatory requirements for foreign investors who invest exclusively in the country's government bonds. The Securities and Exchange Board of India's board, which met in Mumbai, also made it easier for state-owned companies to delist their shares from stock exchanges. Foreign investors buying only government bonds need not disclose their investor group details as these securities carry low risk, SEBI said. Foreign buying of Indian shares and bonds are subject to limits and investors have to disclose their investor group details to enable monitoring of the limits. The markets regulator decided to allowed resident and non-resident Indians and so-called overseas citizens to contribute to the corpus of foreign investors who exclusively buy Indian government bonds. At the board meeting, the regulator also allowed founders of startups to retain stock options after the company goes public. Currently, after startups list, founders are designated as shareholders who can influence the company decisions, and cannot hold stock options. The regulator also approved some state-owned companies to delist from stock exchanges without approval from minority shareholders. Shares of many state-owned firms trade at relatively high market prices due to their limited free float, making it financially challenging for the government to buy out minority shareholders and delist the firms, SEBI had said last month. The regulator has now allowed state-owned companies, which have a government shareholding of at least 90%, to delist at a fixed price, which has to be 15% more than the so-called floor price.
CNA
03-06-2025
- Business
- CNA
Indonesia's economic incentives to cost US$1.5 billion, finance minister says
JAKARTA: Indonesia's economic policy package aimed at stimulating demand, which includes fare subsidies as well as cash and food handouts over June and July, will cost the government 24.44 trillion rupiah (US$1.5 billion), the finance minister said on Monday (Jun 2). State-owned companies will cover around 850 billion rupiah in costs for policies like subsidising highway toll fares, while the rest will come from the government's coffers, Sri Mulyani Indrawati said. The Indonesian government had announced last month on May 24 that it is rolling out a slew of stimulus measures to get its people to spend more in the next two months, with the finance minister providing further details on the costs on Monday. On May 27, the government announced discounts on electricity bills and transportation costs as well as cash and food handouts to selected households that will begin on Jun 5. With the upcoming school holidays set to take place between Jun 28 and Jul 12, it also revealed plans to boost domestic tourism and consumption by offering discounts on train tickets and sea transport services. "With these economic stimuli ... we hope economic growth in the second quarter can be kept close to 5 per cent, compared to our previous forecast of a slowdown due to global conditions," Sri Mulyani said on Monday. The Southeast Asia's largest economy grew 4.87 per cent on a yearly basis in the first quarter, its weakest pace in over three years and hit by falling household spending. The forecast for the rest of the year is also clouded by a troubling global trade outlook. Analysts told CNA earlier that the slew of measures may not be enough to revive sluggish domestic consumption and lift economic growth as broader moves are needed to help the country's middle class and protect businesses from the effects of higher United States tariffs. Sri Mulyani also said on Monday said the government had decided to cancel a plan to cut some electricity tariffs by as much as 50 per cent because the budgeting process would take too long.
Reuters
02-06-2025
- Business
- Reuters
Indonesia's economic incentives to cost $1.5 billion, finance minister says
JAKARTA, June 2 (Reuters) - Indonesia's economic policy package to stimulate demand, which includes subsidising transportation fares and cash and food handouts in June and July, will cost the government 24.44 trillion rupiah ($1.5 billion), the finance minister said on Monday. State-owned companies will cover costs of around 850 billion rupiah for policies such as subsidising some toll fares, while the rest will be funded from the government's coffers, Sri Mulyani Indrawati said. ($1 = 16,240 rupiah)
Zawya
29-05-2025
- Business
- Zawya
Egypt to re-assess phosphate reserves for new projects
Egypt has launched a landmark plan to verify its proven phosphate reserves with the aim of building new plants and expanding exports of phosphate-related industries. The Petroleum and Mineral Resources Ministry is working on a database with the help of public phosphate companies to obtain accurate evaluation of the reserves. Initial estimates prepared by the Ministry show Egypt may have nearly 80 billion tonnes of phosphate ore in place, of which at least 90 million tonnes are currently extractable, Ministry officials said, quoted by Egypt's Addustour Arabic language daily on Tuesday. 'The Ministry is currently implementing an ambitious plan to confirm the country's phosphate ore reserves. This plan is being implemented through state-owned companies operating in this field,' the report said. 'The aim of the plan is to prepare an accurate database on confirmed ore reserves, in preparation for the establishment of several phosphate fertiliser plants currently being equipped in strategic areas,' it added. The report quoted the sources as saying the Ministry has also drawn up plans to 'transform phosphate ore from a mere exported raw material into a high-value industrial product that contributes to supporting agriculture and industry and enhances the country's ability to achieve self-sufficiency and supply global markets.' Ministry figures showed Egypt produces nearly six million tonnes of phosphate ores, of which around four million tonnes are exported, fetching over $250 million annually. In a report last year, the Ministry said it aims to attract fresh investments into its phosphate industry to tap its massive deposits. It noted that Egypt is currently ranked the world's 10th largest raw phosphates producer and that new reserves estimates could be released in the near future. Petroleum and Mineral Resources Minister Karim Badawi said in February that Egypt has devised plans to attract investment into new mining projects in 2025 within a strategy to tap its mineral wealth. 'We have plans to offer new mining investment opportunities in 2025 within a strategy to exploit our mineral wealth and stimulate the national economy,' Badawi said. (Writing by Nadim Kawach; Editing by Anoop Menon) (
