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World Bank offers disaster-hit Indonesia $1 bn in loans

World Bank offers disaster-hit Indonesia $1 bn in loans

On October 14, 2018, the World Bank announced funding of up to $1 billion to the Government of Indonesia for relief and reconstruction efforts in the disaster-affected areas of Lombok and Sulawesi. It would be guided by a US$5 million grant for technical assistance...
Saudi Arabia to invest in oil refinery in Gwadar

Saudi Arabia to invest in oil refinery in Gwadar

Saudi Arabia will invest in a new oil refinery in Pakistan’s growing deep-sea port of Gwadar, Islamabad. The agreement follows a visit last month by Pakistan’s new Prime Minister Imran Khan to the Gulf kingdom as he seeks to attract foreign investment. The Saudis...
12 States reduce their VAT rates on fuel

12 States reduce their VAT rates on fuel

• Rajasthan had last month cut its State VAT by Rs 2.5 per litre, while Karnataka and Andhra Pradesh both had cut their VAT rates by Rs 2 per litre. West Bengal and Kerala had cut their VAT rates on petrol and diesel by Rs 1 per litre in September and May,...
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