Tue, 12 Dec 2023

NEW DELHI -- The Asian Development Bank (ADB) on Wednesday cut down India's gross domestic product (GDP) growth projection to 7 percent for the remaining part of the current fiscal year (April 2022-March 2023), from 7.5 percent estimated in April.

Terming it as a "modest downward revision", the ADB cited "higher-than-anticipated inflation and monetary tightening" as the reasons for the cut in its GDP projection for India. (India-ADB-GDP)

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PHNOM PENH -- Cambodia on Wednesday set a new monthly minimum wage for workers in the country's garment, footwear and travel goods sector at some 200 U.S. dollars from 2023, up 3.09 percent from the current level of 194 U.S. dollars, Labor Minister Ith Samheng said.

The announcement came after the National Council for Minimum Wage voted on a minimum wage of about 198 U.S. dollars per month for next year, which was then added by 2 U.S. dollars by the government. (Cambodia-Wage Hike)

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VIENTIANE -- Lao and Chinese companies have agreed to set up a joint venture of cattle production for export to China.

The Intergrated Agricultural Joint Venture Co., Ltd. from Laos, Tianjin Ringpu Biotech Co., Ltd. from China, and China-ASEAN Innovative Academy for Major Animal Disease Control signed the related memorandum of understanding (MOU) in the Lao capital Vientiane on Wednesday. (Laos-Cattle Production-Chinese Firm)

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WELLINGTON -- New Zealand will reopen Pacific visas soon to help relieve workforce shortages, Immigration Minister Michael Wood said on Wednesday.

From Oct. 3, registrations for the Samoan Quota will reopen, and from Oct. 5 registrations for the Pacific Access Category will reopen. Both are longstanding visa categories that enable people from the Pacific countries to become residents of New Zealand, Wood said in a statement. (New Zealand- Pacific Visas)

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CANBERRA -- The return of international migration has driven Australia's population growth to its highest level in two years.

According to data released by the Australian Bureau of Statistics (ABS) on Wednesday, Australia's population was 25,912,614 people as of the end of March 2022. (Australia-Population-Migration)

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