Page 10 - Asia

Asia outnumbers all other regions with over 950 billionaires: Report

When it comes to the number of billionaires by region, Asia now has 951 outnumbering all other regions. North America has 777 billionaires and Europe, 536.

LNG markets may tighten further in 2023 as demand likely to rise: IEA Chief

LNG markets in 2023 may be tighter than this year as demand may rise in China, India and other parts of Asia, the head of the International Energy Agency (IEA) said

World Bank downgrades growth for East Asia and Pacific to 3.2% in 2022

The World Bank has downgraded growth for developing East Asia and Pacific to 3.2 per cent in 2022

Ceremony and controversy await Kamala Harris during visit to Asia

Attending funerals on behalf of the United States is normally a straightforward assignment for a vice president, but Kamala Harris will confront controversy at nearly every turn as she visits Asia for the memorial honouring former Japanese Prime Minister Shinzo Abe. American allies are seeking clarity after mixed messages over whether President Joe Biden would send troops to defend Taiwan from a Chinese invasion, a potential conflict that could swiftly engulf the rest of the region. There's the potential for more provocations from North Korea, which test-fired a missile shortly before Harris' departure on Sunday from Washington. Meanwhile, South Korea and Japan are inching toward a reconciliation that would heal some of the wounds left from World War II, with the US gingerly trying to nudge along the process. And there's resentment over a new US law that makes electric vehicles built outside of North America ineligible for subsidies. Even Abe's state funeral on Tuesday itself is a

ADB cuts outlook for developing Asia growth on slowing China expansion

The Asian Development Bank cut its growth forecast for China and also lowered its outlook for developing Asia amid rising interest rates, a prolonged war in Ukraine and Beijing's Covid Zero policy

Russia to flood Asia with fuels as Europe ramps up sanctions: Report

Moscow plans to raise taxes on energy sector to the tune of $50 bn in 2023-25

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.

Supply chains aren't broken, have evolved for the better in some places

The dismal state of American manufacturing combined with resilient Asian supply chains has brought into focus the crucial global role of industrial giants like South Korea, China and Japan

Need to build resilient supply chains, boost connectivity: PM Modi at SCO

India assumes rotational annual presidency of SCO summit nations; China, Russia and other countries offer support for summit next year in India

Asian countries spend big on fuel oil amid global gas shortage concerns

Japanese imports of the fuel, which can be used instead of natural gas to produce electricity, surged to a four-year high in August, and are set to stay high in the coming months

Russia sends more energy to Asia as Europe cuts back, says report

Russia sent significantly more oil and coal to India and China over the summer compared with the start of the year, while European countries that long relied on Russian energy have cut back sharply in response to the war in Ukraine, said a report published Tuesday. The Centre for Research on Energy and Clean Air said Russia received about 158 billion euros ($158 billion) in revenue for the sale of oil, natural gas and coal from February to August, more than half of which some 85 billion euros worth was exported to the European Union. Within the EU, Germany was the biggest importer, buying 19 billion euros worth of fossil fuels from Russia during the six-month period. The single biggest importer worldwide, however, was China, which bought 35 billion euros worth of Russian energy, the Helsinki-based group said. While Russia's revenue rose, overall export volumes dropped by 18% compared with when the country invaded Ukraine, the report said. The EU has cut its imports from Russia b

Asia Pacific Group removes Russia's observer status over Ukraine war

The decision to remove Russia's status was taken last month in Malaysia during the annual meeting of the APG

Russia may step up exports of fuels to Asia as EU sanctions tighten

Moscow's invasion of Ukraine has caused turmoil across energy markets this year, and that disruption is set to extend into 2023

World coronavirus cases fall 24%; deaths rise in Asia: WHO report

New coronavirus cases reported globally dropped nearly a quarter in the last week while deaths fell 6% but were still higher in parts of Asia, according to a report Thursday on the pandemic by the World Health Organisation. The UN health agency said there were 5.4 million new COVID-19 cases reported last week, a decline of 24% from the previous week. Infections fell everywhere in the world, including by nearly 40% in Africa and Europe and by a third in the Middle East. COVID deaths rose in the Western Pacific and Southeast Asia by 31% and 12% respectively, but fell or remained stable everywhere else. At a press briefing Wednesday, WHO Director-General Tedros Adhanom Ghebreyesus said reported coronavirus deaths over the past month have surged 35%, and noted there had been 15,000 deaths in the past week. 15,000 deaths a week is completely unacceptable, when we have all the tools to prevent infections and save lives, Tedros said. He said the number of virus sequences shared every week

Over $2.7 bn infrastructure projects listed on Singapore Online Portal

An infrastructure project online portal that connects government, developers, and financiers was launched by Infrastructure Asia, a platform set up by Enterprise Singapore and Singapore's Central Bank

Nancy Pelosi begins Asia trip, no mention of Taiwan amid US-China tension

Speaker of US House of Representatives Nancy Pelosi embarked on a trip to Asia to Singapore, Malaysia, South Korea and Japan, her office said in a statement, but did not mention of a stop in Taiwan

Asia's thirst for cheap Russian oil hits Opec's No 2 producer Iraq

The Iraqi grades are an outlier in Asia, where robust demand led to an earlier-than-usual start of the trading cycle for physical crude buying

Sri Lanka sued by US bondholder after island nation's historic default

Sri Lanka, an island nation off the southern tip of India, fell into default in May after the expiry of a 30-day grace period for missed interest payments on two of its sovereign bonds

Shortage of empty containers in Asia may get worse on Rotterdam jam

Empty container boxes crucial are getting stuck in the port of Rotterdam as a growing backlog of undelivered goods at Europe's export hub forces ocean carriers to prioritise shipments of filled boxes

Asia kicks off key security meeting on regional security after two years

The 19th Shangri-La Dialogue will be held here from Friday to Sunday after a two-year suspension due to the Covid pandemic, focusing mainly on security in the Asia-Pacific region and viable solutions