GABORONE: Botswana is facing renewed pressure on its diamond-driven economy after S&P Global Ratings lowered the country’s long-term sovereign rating to BBB- from BBB and its short-term rating to A-3 from A-2, while keeping a negative outlook. The cut leaves Botswana at the lowest investment-grade level and comes as weaker rough diamond sales continue…

SEOUL: South Korea posted an 11.3 trillion won managed fiscal surplus in January as stronger tax collection offset higher government spending, with value-added tax and income tax leading the increase in receipts. Finance ministry data showed tax revenue reached 52.9 trillion won in the month, up 6.2 trillion won from a year earlier, while…

MUMBAI: India’s foreign exchange reserves rose to a record $728.494 billion in the week ended Feb. 27, according to data released by the Reserve Bank of India on Friday. The stockpile increased $4.885 billion from $723.608 billion a week earlier, reversing the prior week’s decline. India’s forex reserves comprise foreign currency assets, gold, Special Drawing…

BEIJING: China’s top economic and financial officials pledged expanded support for technology firms, a push toward more balanced trade and deeper capital market reforms during a news conference on the sidelines of the annual National People’s Congress. The briefing brought together leaders from the economic planning agency, the commerce ministry, the central bank and the…

NEW DELHI: India and Canada issued a joint leaders’ statement on Monday after talks between Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney during Carney’s official visit to India from Feb. 27 to March 2. The statement said the two countries agreed to rebuild momentum across trade, energy, technology and security…

ABU DHABI: Exus Renewables has signed an agreement with Abu Dhabi Future Energy Company PJSC, known as Masdar, to acquire a 60% stake in Masdar’s Portuguese wind portfolio, the companies said. The transaction covers nine onshore wind farms in northern and central Portugal. Masdar will retain a 40% stake in the assets, according to…