DUBAI / WAM The Ministry of Finance (MoF) announced the launch of the Federal Automated Revenue Estimation System (FARES) as part of its strategy to further enhance government operations in order to advance digital transformation in the country. The system will automate ministry’s revenue estimations model and further improve integration of data to calculate estimates based on statistical and accounting ...

Bloomberg India’s budget gap for the year ended on March 31 has touched 4.4% of gross domestic product — a six-year peak — breaching the target set in February as an economic slowdown reduced tax collections, people with knowledge of the matter said. A revenue shortfall of 1.7 trillion rupees ($22 billion) led to the higher deficit number, the people ...

Bloomberg Indonesia’s economic growth slowed sharply in the first quarter of the year, amid expectations the coronavirus pandemic will take an even heavier toll on Southeast Asia’s biggest economy in months ahead. Gross domestic product rose 2.97% in the first quarter from a year ago, the statistics office said on Tuesday. That was worse than the median estimate of 4% ...