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China approves value-added tax law, taking effect in 2026

BEIJING (Reuters) – China approved a value-added tax law on Wednesday to take effect on Jan. 1, 2026, the official Xinhua said, bringing into one document previous regulations that have included exempting items from the tax. VAT, the largest tax…

Japan government plans record $730 billion budget for next fiscal year, Jiji reports

TOKYO (Reuters) – Japan’s government is in final talks to compile a record over 115 trillion yen ($732 billion) general account budget for the fiscal year from April, Jiji news agency reported on Wednesday. The initial budget will likely exceed…

China cenbank conducts medium-term loan operation, leaves rate unchanged

SHANGHAI (Reuters) – China’s central bank conducted a medium-term loan operation on Wednesday while keeping the interest rate unchanged. The People’s Bank of China (PBOC) issued 300 billion yuan ($41.10 billion) worth of one-year medium-term lending facility (MLF) loans to…

BOJ’s Ueda expects further progress in hitting price target next year

By Leika Kihara TOKYO (Reuters) – Bank of Japan Governor Kazuo Ueda said on Wednesday the central bank expects the economy to move closer to sustainably achieving its 2% inflation target next year, suggesting the timing of its next interest…

Chinese tricksters take cue from Squid Game to prey on the indebted

By Ryan Woo, Ethan Wang and yukun zhang BEIJING (Reuters) – In China’s take on Squid Game, fraudsters are preying on the financially distressed in a slumping economy with promises of prize money, debt restructuring and other schemes that are…

Russia stocks lower at close of trade; MOEX Russia Index down 0.43%

Investing.com – Russia stocks were lower after the close on Tuesday, as losses in the Mining, Telecoms and Oil & Gas sectors led shares lower. At the close in Moscow, the MOEX Russia Index lost 0.43%. The best performers of…