Page 3 - Asia

Gold discounts in India widen as elevated prices dampen its demand

Domestic prices were trading around 72,800 rupees per 10 grams, after hitting a record high of 74,442 rupees last month

Putin inks deals with Vietnam to shore up ties in Asia to offset isolation

Russian President Vladimir Putin signed at least a dozen deals with his Vietnamese counterpart on Thursday and offered to supply fossil fuels, including natural gas, to Vietnam during a state visit that comes as Moscow is seeking to bolster ties in Asia to offset its growing international isolation over its war in Ukraine. Putin and President To Lam agreed to further cooperate in education, science and technology, oil and gas exploration and clean energy. The two countries also agreed to work on a roadmap for a nuclear science and technology centre in Vietnam. Of the 12 publicly announced agreements, none overtly pertained to defense but Lam said there were other deals that were not made public. Putin said the two countries share an interest in developing a reliable security architecture in the Asia-Pacific region with no room for closed military-political blocs. Lam added that both Russia and Vietnam wanted to "further cooperate in defence and security to cope with non-traditional

FDI, R&D, manufacturing key to achieve $5 bn defence export: Study

The survey, conducted across 15 cities in India, saw participation from over 130 national and international arms, ammunition, and security equipment manufacturers, exporters, and startups

India's medium-term fiscal consolidation may get more challenging: Fitch

"Our expectation is that the government will look to achieve the 4.5% fiscal deficit target by 2025-26," Jeremy Zook, director - Asia-Pacific sovereigns at Fitch told Reuters in an interview

Sebi bags 'Best Conduct of Business Regulator' award by The Asian Banker

Sebi has been given 'Best Conduct of Business Regulator' award in Asia Pacific by The Asian Banker for its role in enhancing the regulatory framework for securities markets in India. The award was received by Sebi's Whole Time Member Kamlesh Chandra Varshney in a ceremony held in Hong Kong. "This authority (Sebi) has been actively working towards instantaneous settlement. In 2021, T+1 settlement was introduced in a phased manner, which was fully implemented from January 2023. This move has provided investors with faster access to their funds following trade execution and settlement, enhancing market efficiency and liquidity," The Asian Banker said in a statement. Through rigorous enforcement and innovative regulatory practices, Sebi has significantly improved the conduct of business in the country's financial markets, ensuring fair treatment of consumers and robust market integrity, it added. The Asian Banker creates platforms to build a greater sense of community amongst players i

S Korea to nullify peace deal to punish N Korea over balloon launches

South Korea announced Monday it'll suspend a rapprochement deal with North Korea to punish it over its launches of trash-carrying balloons, even after the North said it would halt its balloon campaign. Over several days, North Korea flew hundreds of balloons to drop trash and manure on South Korea in an angry reaction against previous South Korean civilian leafleting campaigns. On Sunday, South Korea said it would take unbearable retaliatory steps in response, before North Korea abruptly announced it would stop flying balloons across the border. On Monday, South Korea's presidential national security council said it has decided to suspend a 2018 inter-Korean agreement aimed at easing frontline animosities, until mutual trust between the two Koreas is restored, according to the presidential office. The security council said the suspension would allow South Korea to resume military drills near the border with North Korea and take effective, immediate responses to provocations by North

Proposed ban on Russia's LNG transports not to impact Asia: EU commissioner

European Union proposed to ban re-loading services by EU facilities for trans-shipment of Russian LNG to third countries

US shifts focus to China risks; Zelenskyy attends Asia defence meeting

Just hours after Austin spoke at the annual Shangri-La Dialogue, Ukrainian President Volodomyr Zelenskiy arrived in Singapore, where he will address delegates at the security forum on Sunday

At $10,000, shipping container rates are again the talk of global trade

With capacity stretched by more than five months of attacks on vessels in the Red Sea, the container shipping industry is scrambling to meet demand that's picking up in the US and Europe

Anand Mahindra hails Dipa Karmakar for winning gold at Asian championships

Anand Mahindra wrote a heartfelt message after Dipa Karmakar won gold at the Asian Gymnastics Championships. Here's what he said

DB Investment Partners beefs up Asia team, cites region's growth potential

DB Investment sees some of the best Asian opportunities in areas such as healthcare, digital infrastructure, and energy transition, Meghji said

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 ..