EAEU Trade with Uzbekistan Exceeded $11 Billion in Seven Months

People regularly set aside a portion of their income and plan to invest these funds in places where money remains safe while yielding high returns. Some are focused on living after retirement without financial problems.

In this regard, government programs managed by the Post Office can be an excellent option. Particular attention is drawn to the Post Office's scheme for senior citizens (Post Office SCSS Scheme), which guarantees regular income after retirement. By investing funds, one can receive an annual income of 2.46 lakh rupees exclusively from interest.

The popularity of the Post Office's savings schemes is largely due to the interest rates they offer investors. The government program offers a higher interest rate than the Bank Fixed Deposit (Bank FD) under the Post Office SCSS Scheme for senior citizens, amounting to an impressive 8.2 percent. Furthermore, any investment in this scheme is completely risk-free (Risk Free Investment), as the government itself guarantees the safety of every investment. This allows one to invest as much as desired without worrying about losing money and receiving corresponding profit.

An account in the Post Office SCSS Scheme can be opened at any nearby post office. Regarding the investment limit, up to 15 lakh rupees can be deposited in a single lump sum when opening one account. This scheme also provides for the possibility of opening a joint account, into which a maximum of 30 lakh rupees can be deposited in a single lump sum. Investing in this government program can start with as little as 1000 rupees.

This scheme can be effective in maintaining financial stability after retirement. As for age restrictions, the account can be opened by any person aged 60 or older, or jointly with a spouse. Additionally, there are provisions that allow exceptions to the age restrictions. The age of individuals retiring through voluntary retirement scheme (VRS) can be between 55 and less than 60 years at the time of account opening, while employees retiring from defense structures can invest between the ages of 50 and 60.

This Post Office scheme also provides tax benefits. An individual investing in SCSS receives an annual tax deduction of up to 1.5 lakh rupees according to Section 80C of the Income Tax Act. The maturity period for the investment is five years, meaning that to reap the full benefit of this scheme, one must invest for five years. If the investor closes the account before the end of this period, they are liable to pay a penalty according to the rules.

Let's calculate the benefit: if a person opens a joint account in this scheme within the stipulated age limits and deposits the maximum lump sum of 30 lakh rupees, then according to the 8.2% interest rate in Post Office SCSS, they will receive annually only from interest 2,46,000 rupees, and this will continue for all five years until maturity. After that, the entire initially invested amount of 30 lakh rupees can be withdrawn.

Another advantage is that the investor can receive this interest income quarterly. In that case, they will receive 61,500 rupees every three months. A key feature of the PO SCSS investment is that the interest rate applicable during the maturity period remains unchanged after the lump-sum investment, even if the government subsequently changes interest rates through quarterly amendments.

According to data from the Singapore Ministry of Trade and Industry, over 78% of Singapore's global trade turnover in goods and services is accounted for by other APEC economies.

As one of the founding members of the Asia-Pacific Economic Cooperation, Singapore holds a significant position in regional trade, supply chains, and digital commerce.

On Saturday, China stated 'serious concern' and 'firm opposition' to the recent proposal by the US Treasury Department, which envisages expanding and strengthening restrictions on outbound investments into China. Beijing labeled this initiative a discriminatory step and a typical example of the excessive application of the national security concept.

These statements were made by a representative of China's Ministry of Commerce in response to media inquiries regarding the updates to the outbound investment security program proposed by the US Treasury Department, which are currently under public discussion.

The representative emphasized that the proposed rules 'contradict an important consensus reached by two heads of state, violate normal economic and trade cooperation between Chinese and American enterprises, and undermine the international economic and trade order.'

China announced that it will closely monitor the further development of the situation and reserves the right to take appropriate measures. Furthermore, the representative noted that US restrictions on investment in China will harm not only trade and economic cooperation between China and the US but also the interests of American companies themselves, as investments in China represent an investment in the future of a country with enormous consumer and investment potential due to its giant market.

In conclusion, China called on the US side to adhere to the principles of a market economy, cease the excessive interpretation of the concept of national security, stop politicizing and using economic and trade issues as weapons, and create a favorable environment for bilateral economic and trade interaction.