Page 7 - Asia

Forbes 30 Under 30 Asia: Indian entrepreneurs shine among 300 trailblazers

Evaluated by industry leaders, Forbes 30 Under 30 Asia list spans diverse sectors and nations, with India boasting the highest representation

Japan's economy contracts, complicating Bank of Japan's rate hike plans

Private consumption, which accounts for more than half of the Japanese economy, fell 0.7 per cent

China, Cambodia start military drills amid concerns on Beijing's influence

Cambodia and China began 15-day military exercises on Thursday as questions grow about Beijing's increasing influence in the Southeast Asian nation. About 1,315 Cambodian military personnel and 760 Chinese are participating in the regular Golden Dragon ground and sea maneuvers, including three Chinese and 11 Cambodian ships. As the first stage of the exercises got underway at a Cambodian military base with a forested and mountainous training area about 90 kilometers (55 miles) northwest of Phnom Penh, Cambodian army commander in chief Gen Vong Pisen thanked China for providing new equipment and helping to upgrade military facilities, including the Ream Naval Base. The United States and others have worried that China's involvement in building a new pier at the Ream base could lead to it becoming a new outpost for the Chinese navy at a strategically important location on the Gulf of Thailand. As the Golden Dragon exercises began, two Chinese warships had been docked at the pier for mo

Biden's efforts to reshape global supply chains gather pace in Asia

Taiwan's booming exports to the US are just one example of the way great-power tensions have already reshaped supply chains - and how China is getting left out of some of them

Killer April heat wave in Asia was made much worse by climate change

In South Asia, which was the focus of two such studies in 2022 and 2023, abnormal heat was found to be 45 times more likely to occur, and to be 0.85C higher due to climate change

Concerned about IMEC delay amid West Asia situation, says Jaishankar

The delay in implementation of the India-Middle East-Europe Economic Corridor (IMEC) in view of the current situation in West Asia is a matter of "concern" and the expectation generated following firming up of the initiative in September last has to be "adjusted" a bit now, External Affairs Minister S Jaishankar has said. In an exclusive interview to PTI, Jaishankar said all the stakeholders of the IMEC -- a ship-to-rail transit network -- are committed to it as they feel it is a "great" initiative. "It has definitely been a source of concern for us and the kind of expectation we had when the agreement was signed in September, we have had to adjust it a bit," he said when asked whether the ongoing crisis in West Asia would delay the project by at least a few years. "On the other hand, all the parties to the agreement have reconfirmed that 'we think it is a great idea' and all are committed to it," he said. Billed as a path-breaking initiative, the IMEC envisages a vast road, railro

India leads first Asia high-yield dollar bond sales rise in five years

Regional sales of such corporate notes, outside of Japan, touched $5.6 billion so far this year, already surpassing $4.4 billion in all of 2023, according to Bloomberg-compiled data

Japan describes US President Biden's 'xenophobia' comment as regrettable

Last week Biden said "xenophobia" in economies from China to Japan and India was hobbling their growth, while arguing at a Washington fund-raising event that migration has been good for the US

Asian Development Fund to be replenished with $5 billion: ADB Prez Asakawa

The Asian Development Fund (ADF) will be replenished with USD 5 billion to support most vulnerable sections in the Asia Pacific region. Donors and the Asian Development Bank (ADB) have agreed for the replenishment of ADF and Technical Assistance Special Fund (TASF) during the 57th Annual Meeting of the Manila-based multilateral funding agency here. ADF is ADB's largest source of grants for operations in its poorest and most vulnerable developing member countries and is replenished every four years. ADB President Masatsugu Asakawa said ADF 14, marking the 13th replenishment since the fund's establishment, will support grant operations during 2025 -2028. The current replenishment is about 22 per cent higher than the USD 4.1 billion available in ADF 13, and will provide eligible ADB members with the largest-ever volume of ADF grants, he said. The TASF 8 will provide grants that help prepare projects, build capacity, and provide technical or policy advice. "We meet amidst multiple ..

Why HSBC must prioritise Asian expertise in CEO search after Quinn retires

HSBC, Europe's largest lender by assets with a balance sheet of $3 trillion, is increasingly betting on its historic Asian ties to raise profits, as competition crimps revenue growth in other regions.

Asia hardest hit by storms, floods and heatwaves in 2023: WMO report

A report by the World Meteorological Organisation (WMO) has again called Asia as the world's most "disaster-hit" region in 2023, citing casualties and economic losses due to floods, storms, and heat w

Asia world's most 'disaster hit' region with rising climate crisis: Report

WMO climate report reveals record high temperatures in Asian countries with flooding and heat waves are major issues in India

Micron set to get over $6 bn in chips' grants in announcement next week

After the preliminary agreement is announced, Micron would enter months of due diligence and then receive the money in tranches tied to project-specific benchmarks

UBS Group plans to shut thousands of smaller Credit Suisse accounts in Asia

The lender is reviewing the accounts with a balance of around $2 million or less, said the people, who asked not to be identified discussing private information

Crouching tiger, rising mammoth

Historian Sugata Bose, in his new book, makes a compelling case for Asia to embrace its political, cultural, and economic diversity as it reclaims its centrality in the world

Exports venturing into uncharted territories of Africa, Asia, Europe: Govt

At a time when global trade is facing geo-political uncertainties, India's exports of goods like automobiles and gold jewellery have ventured into uncharted territories of Central Asia, Africa and Latin America, according to an analysis by the commerce ministry. The analysis has shown that India has penetrated into what are termed as "absolutely new markets" in regions such as Africa, Central Asia, Latin America and North America during April-December 2023. The "absolutely new markets" refer to areas where India did see any export during April-December 2022, but healthy growth of certain principal commodities like motor vehicles, two- and three-wheelers, petroleum products, sugar, gold and other precious jewellery were recorded in April-December 2023. Exports of these commodities to the absolutely new markets during April-December 2023 stood at USD 234 million as against nil shipments during the same period of 2022. It added that these commodities captured a greater number of marke

Indian diesel floods to Asia as Houthis attacks impact flows to Europe

There were no imports of diesel-type fuel into the EU in the first two weeks of February and only one shipment into the UK, according to the data

Pak now an 'authoritarian regime', only Asian country in category: Report

Out of the 28 countries in the region that are included in the index, 15 recorded a decline in their score, and only eight registered an improvement

Novo invests in Manipal hospitals as it aims to expand Asia footprint

Novo Holdings' key markets in the region are India, South-East Asia and China, where it opened an office in Shanghai last year

India to mitigate slowing Apac growth on robust domestic demand: Moody's

Moody's Investors Service on Tuesday said growth in Asia Pacific will decelerate in 2024 as a downshift in China's growth trajectory will spill over in the region through trade in goods and services, but India will be able to mitigate the challenge aided by robust domestic demand. In a report on Asia-Pacific, Moody's said the region is marked with a heavy calendar of elections in 2024, notably in India, Taiwan, Indonesia, Korea and Bangladesh. "The election outcomes will either facilitate domestic policy continuity or lead to increased polarization, and have a bearing on geopolitical relationships," said a Moody's report titled 'Growth headwinds, tight funding and geopolitics will define 2024 conditions'. It said a downshift in China's economic growth rate and a cyclical slowdown in the US will weigh on Asia-Pacific (APAC)'s credit conditions in 2024. Peaking inflation globally will provide space for monetary tightening cycles to slow, but financial conditions will remain difficult