Page 4 - Asia Economy

Asian airlines eye growth as int'l passenger traffic soars by 171% till Oct

As the international air passenger traffic grew by 171 per cent in the first nine months of 2023, a top airline association on Thursday said it looked forward to celebrate growth of the industry and focus on sustainability. Ahead of the 67th Assembly of Presidents of the Association of Asia Pacific Airlines (AAPA) to be held here on Friday, the Association said, the number of international air passengers in Asia Pacific reached 79 per cent of 2019 levels in September 2023, behind other regions given that borders in Asia fully re-opened only six to 12 months after the rest of the world after the pandemic induced lockdowns across nations. Nevertheless, demand is robust, with international air passenger traffic measured in revenue passenger kilometres (RPK) growing by 171 per cent in the first nine months of 2023, compared to the same period in 2022, AAPA said. Seat capacity measured in available seat kilometres increased by a comparatively slower 130 per cent in the first nine months

WHO South-East Asia region to prioritise investment in primary healthcare

Member countries of the WHO South-East Asia Region on Tuesday committed to prioritising investment in primary healthcare in order to accelerate progress towards universal health coverage. Regional Director of WHO South-East Asia Dr Poonam Khetrapal Singh said this will help realise health-related sustainable development goals. "Prioritising investments to strengthen primary healthcare, including the health workforce, will accelerate progress towards achieving health for all and help realise health-related sustainable development goals, health security and equity promoting health systems," she said. Dr Singh was addressing a ministerial roundtable on 'Strengthening primary healthcare as a key element towards achieving universal health coverage' which culminated in the member countries and WHO signing the Delhi Declaration for strengthening primary healthcare. The declaration builds on the commitments of heads of state and government and ministers of health to strengthen primary ...

HSBC places 12 countries on exit watchlist to focus on expansion in Asia

HSBC's ongoing pivot to Asia has already triggered planned sales of all or parts of its businesses in France, Greece, Russia, and Canada

India's Exports to EU, US grow but Asia and Africa suffer in FY23

India's merchandise exports had risen 6.7 per cent to $450.4 billion in FY23

APAC region to surpass US by 2030 to become world's largest fintech market

These regions, which are an underpenetrated market with nearly $4 trillion in financial services revenue pools, have the largest fintechs

Potential US recession signal sets off global rush into Indonesian bonds

With the US and Indonesian central banks seen approaching the end of their respective hiking cycles, inflows looking for higher carry returns are likely to keep increasing in the second quarter

Asia's factory activity contracts despite China easing Covid curbs

China's factory activity shrank more slowly in January after Beijing lifted tough Covid curbs late last year, a private sector survey showed

'Underweight' on India, China to lead Asian outperformance in 2023: Nomura

The key risks identified by the brokerage are stretched government finances and oil prices going past $120 a barrel

Asian shares fall in early trade amid jitters over missile strike in Poland

Asian shares were mostly lower Wednesday, as investors got jittery over global risks after Poland said a Russian-made missile killed two people there. Benchmarks fell in morning trading in Tokyo, Sydney, Seoul and Hong Kong, while shares were little changed in Shanghai. Ukrainian President Volodymr Zelenskyy decried the blast as a very significant escalation of the war. Details were unclear, including who fired the missile. The Polish government said it was investigating. President Joe Biden, in Indonesia for the Group of 20 summit, promised full U.S support for and assistance with Poland's investigation. Japan's benchmark Nikkei 225 lost 0.2% in morning trading to 27,924.63. Australia's S&P/ASX 200 slipped 0.3% to 7,121.60. South Korea's Kospi shed 0.3% to 2,472.97. Hong Kong's Hang Seng fell nearly 0.2% to 18,308.00, while the Shanghai Composite was little changed, inching up less than 0.1% to 3,135.88. Asian equities were defensive on Wednesday, with geopolitical tensions ...

EvolutionX Debt Capital makes maiden investment in PharmEasy parent firm

Debt financing platform's investment amount was not revealed; it will make equity infusion later

Asia now world's largest debtor and saver; high risk of debt distress: IMF

Asia's economies will need to focus on fiscal stability in order to offset surging debt and to support monetary policy, the International Monetary Fund has warned.

Stagflation-free Asia leaving taper tantrums behind as currencies fare well

The foreign-exchange stockpiles Asian economies built up have helped cushion the impact of this year's market turmoil, which has spurred the largest equity outflows for at least a decade.

Global recovery is sending flares as manufacturing takes a hit in Asia

All the attention devoted to inflation slaying is muting some disturbing signs on the growth side of the equation

India opts out of trade talks with a US-led group of Asian nations

Known as IPEF, the initiative is an effort by President Joe Biden's administration to deepen ties with Asian nations through a range of issues including trade, climate change, supply chains and tax

World Coconut Day 2022: Wishes, WhatsApp status and top 10 facts

World Coconut Day 2022: World Coconut Day will be celebrated globally to acknowledge the importance of coconuts in our life. What is its origin? Why is it celebrated? Read this article to know better

Asia continues global stock selloff as Fed tightening fears flare

Japan's Nikkei sagged 0.6%, while Australia's share benchmark slid 0.4% and South Korea's Kospi lost 0.5%

Asia exports slip into deeper downturn as tech boom goes bust, warn lenders

Asia's export boom is showing signs of slipping into a deeper than expected downturn, HSBC Holdings Plc. and Nomura Holdings Inc. both warned in research notes

Energy crisis set to become worse in debt-ridden countries of South Asia

Emerging markets across the world have been devastated by surging commodity prices following Russia's invasion of Ukraine

Asia's factories feeble despite China bounce, feeds global recession fears

China's manufacturing activity expanded at its fastest in 13 months in June, a private survey showed, as the lifting of Covid lockdowns sent factories racing to meet solid demand

As China deals with Covid, nearly 1 in 4 European firms consider moving out

Of the firms considering a shift in investment, 16% said they were looking at relocating to Southeast Asia, while 18% said they were looking elsewhere in the Asia-Pacific region