Page 5 - South Asia

India set to cross 1800 MW in data centre capacity by 2026: CBRE report

Report adds that India has highest DC capacity among major APAC countries, likely to add another 850 MW in next 2 years

Manipur violence accounted for 97% of displacements in South Asia in 2023

Conflict and violence triggered 69,000 displacements in South Asia in 2023, with Manipur violence alone accounting for 67,000, according to a new report. The report by the Geneva-based Internal Displacement Monitoring Centre (IDMC) termed it the highest number of displacements triggered by conflict and violence in India since 2018. On May 3, 2023, a 'Tribal Solidarity March' was organised in Manipur's hill districts to protest against the Meitei community's demand for Scheduled Tribe (ST) status. The march led to ethnic clashes between the Meitei and the Kuki communities, ultimately claiming more than 200 lives. The Manipur High Court had in March last year called for recommendations to be sent to the central government to recognise the Meitei community as a "scheduled tribe," an official status designed to protect minorities from marginalisation. The call was met with resistance from other local scheduled tribes, including the Kukis. Land disputes were also an underlying driver o

Asian shares at 15-mth high on rate cut bets; RBA seen turning hawkish

Japan's Nikkei gained 1.3% and S&P 500 futures were steady after the cash index logged a 1 per cent rise overnight

Rains, floods claim 14 lives in Afghanistan, cause widespread destruction

Due to incessant rainfall, the residents in many regions have reported major financial losses, which they have to bear as a result of the floods

Above-normal monsoon rainfall predicted in south Asia for 2024: SASCOF

Above-normal rainfall is expected during the 2024 southwest monsoon season over most parts of south Asia, the South Asian Climate Outlook Forum said on Tuesday. The forecast follows the prediction of above-normal rain in the monsoon season in India on the back of favourable La Nina conditions, expected to set in by August-September. "Above normal rainfall is most likely during the 2024 southwest monsoon season (June-September) over most parts of south Asia, except some areas over northern, eastern, and northeastern parts of the region, where below-normal rainfall is most likely," the South Asian Climate Outlook Forum (SASCOF) said. Above-normal maximum and minimum temperatures are predicted over most parts of south Asia during the season, except a few areas over the southeastern part of the region where normal temperatures are most likely. This regional climate outlook for the 2024 southwest monsoon season has been developed by all nine National Meteorological and Hydrological ...

Export figures for FY04, FY14, and FY24 show interesting trends

A look at the destination of our exports shows that our shipments to our neighbours in South Asia at 5.8 per cent have stagnated in the past 10 years

Sri Lanka & Bangladesh look east

The shifting sands of the South Asian trade landscape may be worthy of some serious reflection for India's regional trade strategy

Myanmar's worst violence since military takeover intensifying crisis: UN

Myanmar's escalating conflict and worst violence since the military takeover in 2021 are having a devastating impact on human rights, fundamental freedoms and basic needs of millions of people as well as alarming spillover effects in the region, UN officials have said. Assistant Secretary-General for political affairs Khaled Khiari told the UN Security Council on Thursday that the civilian toll keeps rising amid reports of indiscriminate bombing by Myanmar's armed forces and artillery shelling by various parties. The nationwide armed conflict in Myanmar began after the army ousted the elected government of Aung San Suu Kyi in February 2021 and suppressed widespread nonviolent protests that sought a return to democratic rule. Thousands of young people fled to jungles and mountains in remote border areas as a result of the military's suppression and made common cause with ethnic guerrilla forces battle-hardened by decades of combat with the army in pursuit of autonomy. Despite its .

Global life expectancy up 6.2 years between 1990-2021, shows Lancet report

In India, the life expectancy has increased by eight years in the past three decades

Jobs creation in South Asia lags population growth, says World Bank chief

"If only they can be employed. It's a fantastic opportunity to grow but until recently employment ratios have been falling," says Franziska Ohnsorge

US names Brendan Lynch as assistant USTR for South and Central Asia

For the past 11 years, Lynch has been a member of the USTR team, serving in several capacities related to the South and Central Asia region

China to promote currency swaps, reinforce cooperation with Asian economies

Bilateral currency swaps can facilitate trade and investment and are a useful addition to the global financial safety net, Governor Pan Gongsheng told the annual gathering of the Boao Forum for Asia

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

'What KBC did for entertainment, sports will do for the digital ecosystem'

Sports commands appointment viewing at scale, making it a critical pillar for capturing a captive audience, especially in the realm of AVoD

Saudi Arabia eyes 7.5 mn Indian visitors by 2030, offers 96-hour free visa

When queried about the Indian market's role in Saudi Arabia, Aldabbagh asserted, 'India is a priority market for Saudi. Last year alone, we welcomed 1.5 million visitors from India

India is our biggest, most-valued partner in South Asia: US official

Describing India as its biggest partner in South Asia, the Biden administration has said it is working with New Delhi to deploy a multi-billion-dollar climate infrastructure and a new fund that will include a USD 500 million investment contribution from its development finance institution. Afreen Akhter, Deputy Assistant Secretary in the Bureau of South and Central Asian Affairs (SCA), told this at a news conference organised by the Washington Foreign Press Center. With India, which of course is our biggest partner in South Asia, we launched in January of last year the US-India Initiative on Critical and Emerging Technology. We call this iCET, Akhter said. The goal is to build a resilient semiconductor supply chain, elevate space cooperation, and partner on the next generation of telecommunications so, again, a really ambitious initiative to build cooperation on critical and emerging technologies with India, she said on Wednesday. The US is also advancing regional resilience to ..

World leaders congratulate India on R-Day, laud progress in bilateral ties

Presidents, Prime Ministers and Foreign Ministers of several countries on Friday wished India on its 75th Republic Day and expressed their hope for progress in bilateral relations and close people-to-people ties. These leaders included those from the immediate neighbourhood in South Asia and some from far-flung nations such as Australia. Almost all of them posted their greetings on social media handles and some of them wrote letters or messages to Indian leaders. Australian Prime Minister Anthony Albanese extended his warm wishes to the people of India on the same day as his country celebrates its national day and said, We have an opportunity to celebrate the depth of our friendship. Australia and India have never been closer. In a message to President Droupadi Murmu, the British King Charles III said he cherishes the close bond shared between the two countries. I am confident that our ties will continue to flourish in this very special seventy-fifth anniversary year of the ...

India to help Sri Lanka with upgradation of railways; to cost $91.27 mn

India and Sri Lanka have together launched multiple works costing USD 91.27 million across the island nation to upgrade the railway network which will enhance the mobility of goods and services and boost economic activity. Sri Lanka's Minister of Transport, Highways and Mass Media Dr Bandula Gunawardena and High Commissioner of India to Sri Lanka Santosh Jha ceremonially launched the multiple works on Sunday, a release from the office of the High Commission of India said here. Minister of Transport Gunawardena thanked India for the support extended to Sri Lanka, especially in the transport sector. The Indian High Commissioner expressed happiness that as a long-standing development partner of Sri Lanka, India had executed projects for the development and rehabilitation of Sri Lanka's Northern and Southern Railway line over the past several years in line with the priorities and requirements of the Government of Sri Lanka. Jha also underscored the importance of the modernisation of ..

Sri Lanka raises fuel retail prices by Rs 20; first under new VAT hike

The Sri Lankan government raised retail fuel prices by Rs 20 effective from Monday in its monthly revision, making it the first retail price hike of any commodity under the imposition of new Value-Added Tax rates. The government revises fuel prices monthly based on the exchange rate of the US dollar and the global oil market prices. However, Monday's hike was purely a result of the new VAT rates. Sri Lanka's VAT rate has been increased by three per cent from Monday for the band, which was previously taxed at 15 per cent, while most VAT-exempt items have been brought under 18 per cent in a highly unpopular move. Last month, the International Monetary Fund (IMF) approved the release of the second tranche worth USD 337 million to the cash-strapped island nation, bringing the value of disbursements to USD 670 million in the four-year facility. With its reforms, the IMF programme meant that the government set cost-based tariffs for utilities, while several rate hikes on electricity ...

India's inward remittances in 2023 rise 12.3% to $125 billion: World Bank

India continues to be the highest recipient of remittances globally, followed by Mexico ($67 billion) and China ($50 billion)