Latest news with #58thADBAnnualMeeting
Reuters
15-05-2025
- Business
- Reuters
South Korea's deputy finance minister discussed forex with US Treasury official
SEOUL, May 14 (Reuters) - South Korea's deputy finance minister Choi Ji-young met with Assistant Secretary for International Finance at the U.S. Treasury, Robert Kaproth, to discuss the dollar/won market on May 5, a South Korean government official said on Wednesday. The two met on the sidelines of the 58th ADB Annual Meeting in Milan, Italy, after Seoul and Washington said in April they would try to come up with a trade package aimed at removing U.S. tariffs before a pause on reciprocal tariffs is lifted in July. The U.S. and South Korea on April 25 agreed to craft a trade package going forward where tariffs, economic security, investment and forex policies would be discussed. On Wednesday, the won gained 1.4% against the dollar to 1,398.40 as of 0830 GMT, extending gains to breach the key psychological level of 1,400 per dollar. The won was the worst performer among emerging Asian currencies last year, having fallen more than 14% against the dollar. "News that U.S. and South Korea are discussing forex could be part of the reason why the won is up, but we need to monitor further to see flows behind this as the gains were quite substantial in the afternoon," a local forex dealer said, asking not to be named due to the sensitivity of the matter. U.S. Trade Representative Jamieson Greer is due to meet Ahn Duk-geun, Seoul's trade minister, on Friday on the sidelines of the APEC meeting in South Korea to discuss a broad range of trade issues, according to officials.
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Business Standard
06-05-2025
- Business
- Business Standard
No Pakistan-related issues discussed: ADB on meeting with FM Sitharaman
The Asian Development Bank on Monday said that issues related to Pakistan were not discussed during the bilateral meeting with ADB President Masato Kanda and Finance Minister Nirmala Sitharaman. "The Asian Development Bank (ADB) is aware of media reports claiming that issues related to Pakistan were discussed during the bilateral meeting between ADB President Masato Kanda and Indian Finance Minister Nirmala Sitharaman on the sidelines of the 58th ADB Annual Meeting in Milan, Italy," said the multilateral development bank as per an official release. Finance and Corporate Affairs Minister Nirmala Sitharaman on Monday met ADB President Masato Kanda and Italian Finance Minister Giancarlo Giorgetti on Monday and talked about the initiatives India is taking to foster economic growth. Finance Ministry officials also said that there was no discussion on issues related to Pakistan with ADB President and the Italian Finance Minister. In her meeting with Masato Kanda during the 58th ADB Annual Meeting in Milan, Sitharaman reiterated that India focuses on private sector-led economic growth and has been consistently creating a conducive policy ecosystem through bold initiatives. Tensions have risen between India and Pakistan following the Pahalgam terror attack. The government has said that perpetrators will face severe punishment. FM Sitharaman is in Milan to attend the 58th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB), scheduled to take place in Milan, Italy, from May 4 to 7, 2025.
Economic Times
05-05-2025
- Business
- Economic Times
India demands Italy cut financing to Pakistan
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel India has demanded that the Italian government cut the financing to Pakistan, as New Delhi continues to extend its punitive moves against Islamabad in the aftermath of the Pahalgam terror attack Sources told that the demand was made at a meeting between Finance Minister Nirmala Sitharaman and her Italian counterpart Giancarlo Giorgetti , on the sidelines of the 58th ADB Annual Meeting in Italian city of per United Nations Development Programme website, the Italian Development Cooperation is an essential UNDP partner in Pakistan and across the world. "Some of Italy's major initiatives and contributions are in Pakistan," UNDP website a separate meeting with the Asian Development Bank (ADB), India has demanded that the regional development bank cut funding for has sharply downgraded diplomatic ties with Pakistan after the April 22 terrorist attack on tourists in Jammu and Kashmir's Pahalgam, leading to the death of 26 individuals and several other injured, mostly suspended the Indus Waters Treaty of 1960, which would over a period of time will severely reduce Pakistan's water sources told ANI that India will also approach FATF (Financial Action Task Force) to include Pakistan in the grey is leading the Indian delegation of officials from the Department of Economic Affairs, Ministry of Finance for the 58th Annual Meeting of the Board of Governors of Asian Development Bank (ADB), scheduled from May 4 to 7 in to an official statement from the Ministry of Finance, the meetings will be attended by official delegations of the Board of Governors of ADB, official delegations of ADB members and international financial institutions. The Union Finance Minister will participate in the Annual Meeting's focal events like the Governors' Business session, Governor's Plenary Session and as a panelist in the ADB Governors' Seminar on "Cross-Border Collaboration for Future Resilience".
The Print
05-05-2025
- Business
- The Print
India demands Asian Development to cut funding for Pakistan
Finance Minister Nirmala Sitharaman, in a meeting with Asian Development Bank President Masato Kanda on Monday, demanded that the bank cut its funds to Pakistan, sources said. Milan [Italy], May 5 (ANI): India has demanded that the Asian Development Bank cut funding for Pakistan, as New Delhi continues to extend its punitive moves against Islamabad in the aftermath of the Pahalgam terror attack. According to sources, the demand for cutting the fund to Pakistan was one of the agenda of the meeting among various other issues. Nirmala Sitharaman met with ADB President Masato Kanda during the 58th ADB Annual Meeting in Italian city of Milan. India has sharply downgraded diplomatic ties with Pakistan after the April 22 terrorist attack on tourists in Jammu and Kashmir's Pahalgam, leading to the death of 26 individuals and several other injured, mostly tourists. India suspended the Indus Waters Treaty of 1960, which would over a period of time will severely reduce Pakistan's water supply. Further, sources told ANI that India will also approach FATF (Financial Action Task Force) to include Pakistan in the grey list. In a post on X today, the Finance Ministry said the Finance Minister reiterated that India focuses on private sector-led economic growth and has been consistently creating a conducive policy and regulatory ecosystem through bold initiatives such as the Insolvency and Bankruptcy Code, Corporate Tax Rate Reduction and GST implementation, Production-Linked Incentives, National Infrastructure Pipeline, GatiShakti National Master Plan, and StartupIndia, among others, for greater Ease of Doing Business. In the X post, the finance minister emphasised that India offers opportunities for ADB to pilot new, innovative financing products and models. Kanda expressed ADB's full support to India's development priorities, guided by Prime Minister Narendra Modi's vision of a Viksit Bharat by 2047. Sitharaman is leading the Indian delegation of officials from the Department of Economic Affairs, Ministry of Finance for the 58th Annual Meeting of the Board of Governors of Asian Development Bank (ADB), scheduled from May 4 to 7 in Milan. According to an official statement from the Ministry of Finance, the meetings will be attended by official delegations of the Board of Governors of ADB, official delegations of ADB members and international financial institutions. The Union Finance Minister will participate in the Annual Meeting's focal events like the Governors' Business session, Governor's Plenary Session and as a panelist in the ADB Governors' Seminar on 'Cross-Border Collaboration for Future Resilience'. (ANI) This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content.
The Print
05-05-2025
- Business
- The Print
India demands Italy cut financing to Pakistan
Sources told ANI that the demand was made at a meeting between Finance Minister Nirmala Sitharaman and her Italian counterpart Giancarlo Giorgetti, on the sidelines of the 58th ADB Annual Meeting in Italian city of Milan. Milan [Italy], May 5 (ANI): India has demanded that the Italian government cut the financing to Pakistan, as New Delhi continues to extend its punitive moves against Islamabad in the aftermath of the Pahalgam terror attack. As per United Nations Development Programme website, the Italian Development Cooperation is an essential UNDP partner in Pakistan and across the world. 'Some of Italy's major initiatives and contributions are in Pakistan,' UNDP website read. In a separate meeting with the Asian Development Bank (ADB), India has demanded that the regional development bank cut funding for Pakistan. India has sharply downgraded diplomatic ties with Pakistan after the April 22 terrorist attack on tourists in Jammu and Kashmir's Pahalgam, leading to the death of 26 individuals and several other injured, mostly tourists. India suspended the Indus Waters Treaty of 1960, which would over a period of time will severely reduce Pakistan's water supply. Further, sources told ANI that India will also approach FATF (Financial Action Task Force) to include Pakistan in the grey list. Sitharaman is leading the Indian delegation of officials from the Department of Economic Affairs, Ministry of Finance for the 58th Annual Meeting of the Board of Governors of Asian Development Bank (ADB), scheduled from May 4 to 7 in Milan. According to an official statement from the Ministry of Finance, the meetings will be attended by official delegations of the Board of Governors of ADB, official delegations of ADB members and international financial institutions. The Union Finance Minister will participate in the Annual Meeting's focal events like the Governors' Business session, Governor's Plenary Session and as a panelist in the ADB Governors' Seminar on 'Cross-Border Collaboration for Future Resilience'. (ANI) This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content.
