The Institute of Chartered Accountants of Pakistan (ICAP) and the South Asian Federation of Accountants (SAFA) organized a conference titled "South Asia's Economic Outlook: Challenges & Opportunities" in Karachi on January 10-11, 2025. The event aimed to address the region's economic challenges through regional collaboration and policy reforms. Key discussions focused on trade barriers, adapting to digital transformation, and exploring renewable energy to unlock South Asia's economic potential. The conference brought together policymakers, industry leaders, and thought pioneers to exchange insights and chart a path towards sustainable growth.
https://www.brecorder.com/news/40342172/safa-conference-muhammad-aurangzaib-federal-minister-for-finance-and-revenue-pakistanThe Institute of Chartered Accountants of Pakistan (ICAP) is hosting the South Asian Federation of Accountants (SAFA) Conference 2025 in Karachi, a financial hub in Pakistan. The conference aims to foster dialogue and collaboration for sustainable economic development in the region, with a focus on addressing challenges such as policy reforms, trade barriers, and the adoption of innovative solutions in renewable energy and digital services. ICAP is committed to upholding excellence and innovation in financial management and governance, and believes that collaboration is key to progress. The conference will bring together industry experts from South Asia to share ideas and strategies for driving sustainable growth and resilience across the region.
https://www.brecorder.com/news/40342174/safa-conference-farrukh-rehman-fca-president-icapThe International Monetary Fund (IMF) chief predicts steady global economic growth in 2025, with a continuation of disinflationary trends. Meanwhile, the US job market showed strong performance in December, with a lower unemployment rate of 4.1%. In other news, Delta Air Lines reported earnings that exceeded expectations due to high demand. The US and UK have imposed widespread sanctions on Russia's energy sector. Former New York mayor Rudy Giuliani has been held in contempt of court for the second time. Donald Trump was spared jail, fine or probation at his sentencing hearing related to hush money payments. Scientists say 2024 marked the first year global temperatures exceeded 1.5 degrees Celsius above pre-industrial levels.
https://www.businesstimes.com.sg/international/us-job-growth-beats-expectations-december-jobless-rate-falls-4-1The International Monetary Fund (IMF) has lowered its forecast for global economic growth from 3.2% in 2025 to 3.1%, citing uncertainty surrounding the incoming US administration's policy directions, particularly on trade and tariffs. The IMF also noted divergent trends across regions, with growth expected to stall in the European Union and weaken in India, while China faces deflationary pressure and lower-income countries are vulnerable to new economic shocks. To combat inflation, central banks must carefully monitor local data as higher interest rates have not yet pushed the global economy into recession. The strong US dollar may also pose challenges for emerging market economies and low-income countries.
India is reportedly trying to dissuade Indonesian President Prabowo Subianto from visiting Pakistan, which he plans to do immediately after attending India's Republic Day on January 26. This move has been met with preparations by the Pakistani government, led by Prime Minister Shehbaz Sharif, who has set up a committee to finalize arrangements for the visit. The trip is seen as significant, given India's long-standing efforts to separate Pakistan from its bilateral ties with other countries.
https://www.thenews.com.pk/print/1270960-india-trying-to-dissuade-indonesian-president-from-visiting-pakistanIndia is set to participate in the 55th World Economic Forum (WEF) Annual Meeting in Davos, Switzerland from January 20-24. The country will highlight its achievements in advancing artificial intelligence, frontier technologies and renewable energy capacities to seek global partnerships for sustainable innovation. Led by a team of ministers including Ashwini Vaishnaw and C.R. Chaudhary, India aims to foster international collaborations and drive sustainable development, aligning with the WEF's theme "Collaboration for the Intelligent Age".
https://www.lokmattimes.com/business/india-to-seek-global-partnerships-for-sustainable-innovation-at-wef-meet-in-davos/The Indian government has raised concerns with Indonesia about President Prabowo's planned direct flight to Pakistan after attending India's Republic Day celebrations. This is seen as potentially undermining India's stance against engaging with countries that use terrorism as a tool of foreign policy. The issue was discussed between officials from both countries, and it marks the second time an Indonesian president has been invited to attend the Republic Day celebrations in India, following President Joko Widodo's visit in 2018.
https://www.firstpost.com/india/is-pakistan-the-reason-why-india-has-not-yet-confirmed-indonesia-president-as-republic-day-chief-guest-13851634.htmlThe Indian President is expected to visit Singapore later this year as part of its 60th anniversary celebrations. During the visit, two memoranda of understanding (MoUs) will be signed with Odisha, focusing on expanding industrial cooperation in fields such as semiconductor devices and integrated circuits. Singapore aims to set up training centers for semiconductor-related work and is also discussing airline services with India. The city-state has utilized its allocated seats fully, while India has not yet utilized its share. Singapore's strategic role in the Southeast Asian region, particularly regarding the crisis in Myanmar, will also be a topic of discussion during the visit.
https://www.thehindu.com/news/national/odisha-will-be-the-highlight-of-singapore-presidents-india-visit/article69084496.eceIndonesia has been officially recognized as a full member of the BRICS economic bloc by Brazil, which is chairing the group in 2025. As part of this membership, Indonesia's oil and gas export potential to other BRICS countries may increase, with opportunities for acquiring Russian oil at potentially lower prices. However, Indonesia's National Economics Council is still evaluating the pros and cons of importing oil from Russia, considering factors such as price and benefit to the country.
https://en.antaranews.com/news/340758/indonesias-brics-entry-promises-growth-in-oil-gas-investments?utm_source=antaranews&utm_medium=desktop&utm_campaign=popular_right