Bloomberg The downward pressure on China’s consumption persisted over the Lunar New Year holiday, the annual festival when people travel, shop, and give gifts or money. People in China spent 1.01 trillion yuan ($149 billion) at restaurants, shopping malls and online outlets over the week-long holiday, according to the Ministry of Commerce. That was 8.5 percent higher than during last ...

Bloomberg Pakistan’s Prime Minister Imran Khan pledged to carry out deep structural reforms of an economy that’s staring at a balance-of-payment crisis, after the International Monetary Fund (IMF) offered to avert it. There was a convergence of views on structural reforms in a meeting with Managing Director Christine Lagarde in Dubai on February 10, Khan said in a twitter post. Pakistan ...

Bloomberg India’s budgets show the government’s been fixing unrealistic revenue targets, and in the process setting itself up for falling short of fiscal deficit goals. While the government has estimated 19.8 trillion rupees ($280 billion) as revenue receipts for the year starting April, history shows it’s missed income targets in each of the past five fiscal years. The risk of ...