5 states complete reforms in ease of doing business; eligible for Rs 16,728 cr extra borrowing

Erwin Oropesa


Anurag Thakur, Nirmala Sitharaman are posing for a picture: 5 states complete reforms in ease of doing business; eligible for Rs 16,728 cr extra borrowing


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5 states complete reforms in ease of doing business; eligible for Rs 16,728 cr extra borrowing

The Minister of Finance said today five states have completed stipulated reforms in the ease of doing business area, allowing them to avail additional financial borrowings worth Rs 16,728 crore. The states getting these benefits are Andhra Pradesh, Karnataka, Madhya Pradesh, Tamil Nadu and Telangana.

“Five states have so far completed the stipulated reforms in the Ease of Doing Business. These States have been granted permission to mobilise additional financial resources to the tune of Rs 16,728 crore through open market borrowings,” the ministry said.

Among these states, Tamil Nadu has received maximum Rs 4,813 crore; followed by Karnataka Rs 4,509 crore; Andhra Pradesh Rs 2,525 crore; Telangana Rs 2,508 crore; and Madhya Pradesh Rs 2,373 crore. The ease of doing business indicator reflects the investment-friendly business climate. The improvement

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Paris Enjoys Brexit Bonus With Estimated 4,735 Extra Finance Jobs | Investing News

Erwin Oropesa

PARIS (Reuters) – Brexit has lead to 4,735 financial sector jobs shifting to France since Britain voted to leave the European Union in 2016, French lobby group Paris Europlace estimates.

European capitals have been jostling to attract business from London in the wake of the Brexit referendum, especially among banks, asset managers and other financial services firms.

Paris Europlace said the jobs came from teams relocating to France or investment decisions favouring the country and linked to Brexit. It listed JPMorgan and Japan’s Nomura among those that had shifted teams, but also French banks BNP Paribas and Societe Generale, which have big operations in Britain.

Overall, and including companies outside finance and in sectors such as healthcare or carmakers, Paris Europlace estimated the Brexit boost for French jobs at 9,516.

Estimates of lost business for Britain vary. Consultants EY said in October that more than 7,500 finance jobs, as well

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South Korea Finance Minister Sees Third Extra Budget as Last

Erwin Oropesa

(Bloomberg) — South Korean Finance Minister Hong Nam-ki sees a third extra budget pending approval in parliament as the last for this year and said the economic shock from the coronavirus pandemic may have bottomed.

South Korea’s economy can still avoid its first annual contraction in more than two decades if stimulus measures including the latest supplementary budget get carried out quickly enough to build on the momentum of improving exports and consumer confidence, Hong said in an interview with Bloomberg on Friday.

“We are seeing signs of consumption and exports recovering from May,” said Hong, who also serves as deputy prime minister. “What’s more important than pouring out more measures and money is ensuring that the third extra budget and the series of measures taken in the first half feed through.”

The government has so far pledged more than 270 trillion won ($225 billion), or roughly 14% of its

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