Page 2 - Asia

Bengaluru's millionaire population soars by 120% over last decade: Report

Home to approximately 13,200 millionaires, Bengaluru has a collective investable wealth of Rs 800 crore, according to Henley & Partners' Centi-Millionaire Report 2024

'Spiked ozone levels stunting tropical forests' growth, Asia affected more'

Ozone pollution is stunting the growth of tropical forests, with the effect being stronger in Asia, where such forests are losing nearly 11 per cent of new growth, research has found. Air quality will continue to play an important, yet often overlooked, part in how forests absorb and store carbon, according to lead author Flossie Brown, a recent graduate of the University of Exeter. While ozone in the upper layers of the Earth's atmosphere protects people from harmful ultraviolet radiations from the Sun, ozone closer to the ground level is harmful to plant and human health. The gas is formed when pollutants from human activities combine in the presence of sunlight. The researchers explained that urbanisation, industrialisation and burning fossil fuels and fires have resulted in an increase in 'precursor' gases -- such as nitrogen oxides -- that form ozone. The team found that ozone at the ground level can stunt new growth in tropical forests by over five per cent, translating into

Pope concludes Asia trip, reiterates interfaith tolerance to heal world

Pope Francis wrapped up his visit to Singapore on Friday by praising its tradition of interfaith harmony, closing out his four-nation trip through Asia with the same message of tolerance that he delivered at the start. Francis presided over a gathering of young people from some of the religious traditions that are present in Singapore, where mosques, Buddhist temples and Christian churches stand side-by-side among the city-state's iconic skyscrapers. In a sign he was enjoying himself, Francis ditched his speech and urged the youths to take risks, even if it means making mistakes. But he came back to the topic at hand make his main point about the need for people of different faiths to engage in constructive dialogue rather than insist on the righteousness of their particular beliefs. All religions are a path to arrive at God, he said. They are like different languages to arrive there. But God is God for all. Francis was in Singapore to encourage its Catholics, who make up about 3.5

Red Sea crisis produces winners & losers in Asia as freight rates spike

Chinese shippers including Cosco Shipping Holdings Co. saw earnings lifted by higher revenue from its container shipping business

India to bid for 5th Youth Olympics in 2030: Sports Minister Mandaviya

Sports Minister Mansukh Mandaviya on Sunday said India is set to bid for the 2030 Youth Olympics, a precursor to the country's ambition to host the 2036 Olympics. The 2030 Youth Olympics will be the fifth edition of the international event. "Under the leadership of Prime Minister Narendra Modi we are going to bid for the 2030 Youth Olympics but our focus remain on hosting the 2036 Olympics," Mandaviya said on the sidelines of the Olympic Council of Asia's (OCA) 44th General Assembly here. "Under Modiji's leadership we have been able to host multiple international sporting events, including cricket World Cups, football U-17 World Cup," BJP president JP Nadda, who was the chief guest for the event, added. India will fight against Peru, Colombia, Mexico, Thailand, Mongolia, Russia, Ukraine, Bosnia and Herzegovina to get the hosting rights for the 2030 Youth Olympics.

Randhir Singh set to be elected as first Indian president of OCA

Veteran sports administrator Randhir Singh is set to be elected as the first Indian president of the Olympic Council of Asia (OCA) in the 44th General Assembly of the Asian body here on Sunday. Randhir, a former Indian shooter, will be officially named OCA president in the presence of Sports Minister Mansukh Mandaviya and top sports leaders from all 45 countries of Asia. Randhir, 77, hails from Patiala in Punjab and belongs to a family of sportspersons. His uncle, Maharaja Yadavindra Singh, played Test cricket for India and was an IOC member. His father Bhalindra Singh, also a first-class cricketer, was an IOC Member between 1947 and 1992. Randhir competed in four Asian Games, winning the trap gold in 1978, bronze in 1982 and a team silver 1986. He also competed at the 1978 Commonwealth Games in Edmonton, Canada. Randhir entered sports administration in 1987 when he was appointed the secretary-general of the Indian Olympic Association, a position he held till 2012. He was also ..

Over 300 companies from 20 countries to participate in Didac India 2024

Over 300 firms from 20 countries will showcase over 5,000 products and technologies at the 14th edition of Asia's largest education and skills sector exhibition and conference DIDAC India 2024 here. The 14th edition of Didac India is being organised by global exhibitor Messe Stuttgart India, in partnership with India Didactics Association (IDA), India's only National association for the education and skills fraternity from September 18 to 20 at Yashobhoomi (India International Convention & Expo Centre) in Delhi, a statement said. According to the statement, the education industry worldwide is anticipated to reach USD 10 trillion in the next decade. With a CAGR of 4.5 per cent, it is expected to contribute to over 6 per cent of global GDP. India's education and skilling industry is projected to reach USD 313 billion by 2030. India Didactics Association CEO Aditya Gupta said that to support the government's vision and further boost India's education system, DIDAC India 2024 brings ..

Europe, Asia dominate list of top 10 nations in 2024 by GDP per capita

Advanced economies are projected to experience a slight uptick in growth, moving from 1.6 per cent in 2023 to 1.7 per cent in 2024 and 1.8 per cent in 2025

Asian factories show tentative signs of recovery as China's PMI improves

Factory activity in South Korea and Taiwan also expanded in August, while Japan saw a slower rate of contraction due in part to solid global demand for semiconductors

Indonesia celebrates Nusantara, the new capital struggling to take shape

Located about 800 miles northeast of Jakarta, construction of Nusantara involves five phases, to be completed by 2045, the govt intends to shift some 1.9 mn people from Jakarta to ease congestion

Asia's 50 Best Bars 2024: ZLB23 named India's best bar, ranks 40th in list

Asia's 50 Best Bars 2024 list has been released, and Begnaluru's ZLB23 is ranked 40th in the list. Hong Kong's Bar Leone tops the chart

Pope to preside over interfaith meet in Indonesian mosque during Asia visit

Pope Francis will preside over an interfaith meeting in a mosque in the world's largest predominantly Muslim country during a four-nation Asian visit in September that will be the longest and most complicated foreign trip of his pontificate. The Vatican on Friday released the itinerary for Francis' September 2-13 trip to Indonesia, East Timor, Papua New Guinea and Singapore. The packed schedule makes clear that the 87-year-old pontiff, who has battled health problems and is increasingly reliant on a wheelchair, has no plans to slow down. After a day of rest upon arrival in Jakarta on September 3, Francis launches into a typically rigorous round of protocol visits to the four countries' heads of state and government, speeches to diplomats and meetings with clergy and public Masses in each location. In Jakarta, he'll preside over an interfaith meeting at the capital's Istiqlal Mosque. Sprinkled in the mix are encounters with young people, poor and disabled people, elderly people and

IFC appoints Vikram Kumar as regional director for Asia and Pacific

Global investment and financing solution provider IFC on Monday said it has appointed Indian national Vikram Kumar as its Regional Industry Director for Infrastructure and Natural Resources in Asia and the Pacific. Kumar will be based in Singapore, where he begins his new role on July 1, IFC (International Finance Corp) said in a statement. Having more than 20 years of global investment and development expertise, Kumar will drive IFC's strategy to connect more people and businesses in the region to sustainable infrastructure. In his role, Kumar will lead IFC's Infrastructure and Natural Resources investment team across Asia and the Pacific to develop and implement power, water, telecom, transport, and other infrastructure projects with public and private sector partners, expanding the reach of essential services, said IFC -- a member of the World Bank Group. "His (Kumar's) experience leading transformative projects with our partners globally and in this region will enable him to gr

Asia's first half crude oil imports decline, undermines bullish forecasts

The slightly weaker outcome was largely a result of lower arrivals in China, the world's biggest oil importer

India presents action plan for regional cooperation under Colombo Process

India has presented an action plan focusing on several of its priority areas for regional cooperation under the Colombo Process, a regional consultative forum comprising 12 Asian nations. India rolled out the plan while chairing a meeting of the grouping in Geneva on Friday. In the meeting, India listed a range of its priorities that included reviewing the financial sustainability of the Colombo Process and broadening the grouping's membership by including new nations as members and observers. Muktesh Pardeshi, Secretary (consular-passport-visa division) in the Ministry of External Affairs, delivered the special address at the meeting. "He emphasised India's commitment to advancing the objectives of the Colombo Process and enhancing collaboration among member states," the ministry said. "India presented an outline of an action plan for the next two years, focusing on key priorities and initiatives to further strengthen the Colombo Process," it said. In May, India assumed the cha

BII vows $75 mn to Symbiotics' 2nd green basket bond for emerging markets

British International Investment, the UK's development finance institution, on Tuesday said it has committed USD 75 million (about Rs 625 crore) to the second green basket bond arranged by emerging markets access platform and financial lender Symbiotics Investments. The green lending programme will increase financing to small-scale green projects across Africa, South and South-East Asia through MSME lenders, with 50 per cent of the financing earmarked for India, British International Investment (BII) said in a statement. It will focus on supporting new MSME lenders not included in the first green basket bond. The first green basket bond supported 11 MSME lenders in India, Vietnam, Cambodia, Tunisia, Botswana, Kenya, Bangladesh and Nepal, it added. "Partnering with Symbiotics on a second green basket bond signifies a continued commitment to empowering smaller financial institutions and supporting sustainable development in climate-vulnerable regions," BII Managing Director and Head o

Self-confident Asia charts its own course, diversifies ties beyond West

Desire to make an Asia for Asians, without the overbearing influence of the West, is not new

Iran, Bahrain to discuss resuming diplomatic relations severed since 2016

Iran and Bahrain have agreed to talk about how they might resume bilateral relations after nearly eight years, Iranian media reported Monday. The report by state-run IRNA news agency said Iran's acting foreign minister Ali Bagheri Kani and his Bahraini counterpart Abdullatif bin Rashid al-Zayani spoke on the sidelines of the ongoing Asian Cooperation Dialogue in Tehran. The report said both sides agreed on creating the framework to start talks on the requirements for resuming diplomatic relations. This is al-Zayani's second visit to Tehran in a month. The first came during the memorial for President Ebrahim Raisi who died in a helicopter crash in May. Bahrain cut its diplomatic relations with Iran after Saudi Arabia severed diplomatic ties with Tehran following Riyadh's execution of an opposition Shiite cleric and attacks on Saudi diplomatic posts in Iran in 2016. Iran and Saudi Arabia resumed their diplomatic relations in 2023.

India's LNG demand surge supports Asia's declining imports in June

Asia is on track to import 23.18 million metric tons of LNG in June, down a touch from May's 23.55 million

African, Asian tea producers flag concerns over demand-supply mismatch

Associations of tea producers in Asia and Africa have flagged concerns over the global mismatch of demand and supply and called for an early restoration of equilibrium, according to a statement issued by a planters' body on Friday. In a meeting of the stakeholders of the global tea industry, recently held in Dubai, the associations also addressed the issue of quality and long-term sustainability of the sector. Indian Tea Association (ITA) chairman Hemant Bangur said that the global tea industry is facing a demand-supply mismatch as production continues to outpace demand. Representatives of ITA, East African Trade Association (EATTA), independent tea producers' body of Kenya, and tea associations of Malawi, Bangladesh and Uganda attended the meeting. They voiced concern over stagnating consumption demand in Europe and Asia, the ITA said in a statement. Bangur said, "Africa with its growing population and rising income has the potential to become one of the largest markets for black