Page 6 - Asia

PM Modi to visit Jakarta next week to attend ASEAN-India, East Asia summits

Prime Minister Narendra Modi will visit Indonesia's capital Jakarta on September 6 and 7 to attend the ASEAN-India and East Asia summits, the Ministry of External Affairs (MEA) said on Saturday. Shoring up India's trade and security ties with the 10-nation Association of Southeast Asian Nations (ASEAN) is likely to be the focus of Modi's engagement with leaders of the bloc. The ASEAN-India Summit will be the first since the elevation of ties between the two sides to a comprehensive strategic partnership last year. "Prime Minister Narendra Modi will travel to Jakarta, Indonesia on September 6 to 7 at the invitation of Joko Widodo, the President of the Republic of Indonesia," the MEA said in a statement. It said the prime minister will attend the 20th ASEAN-India Summit and 18th East Asia Summit being hosted by Indonesia as the current Chair of the ASEAN. "The forthcoming ASEAN-India Summit will be the first Summit since the elevation of India-ASEAN relations to a Comprehensive ...

Surprised by 'high degree of endorsement': Singapore's president-elect

Amid pouring congratulatory messages, Singapore's President-elect Tharman Shanmugaratnam on Saturday said he was surprised by such a high degree of endorsement, and that he was very serious about wanting to fulfil the mandate given by the people. Singapore-born Indian-origin candidate in a predominantly Chinese multi-racial Singapore, 66-year-old Tharman won the presidential election with a massive vote share of 70.4 per cent in the early hours of Saturday. This is the first contested presidential election since 2011. Speaking to journalists at his first doorstop interview since the official result was declared, Tharman said, I did not expect such a high degree of endorsement, which also means there was a fair number of people who would normally not vote in favour of the ruling party, who decided that this was not a political election, this is not a General Election. And they decided to vote for me, and I think that's also very encouraging. Describing the result as remarkable unity

PM Modi hails relay team for qualifying into World Championship finals

Prime Minister Narendra Modi on Sunday hailed the Indian men's 4x400m relay team that shattered the Asian record to qualify for its maiden final round of the World Championships and said this was truly historic for Indian athletics. The Indian men's 4x400m relay team shattered the Asian record in a stunning race, clocking 2 minutes and 59.05 seconds, to qualify for its maiden final round of the World Championships in Budapest on Saturday. The Indian quartet of Muhammed Anas Yahiya, Amoj Jacob, Muhammed Ajmal Variyathodi and Rajesh Ramesh finished second in heat number one behind the USA (2:58.47) to make it to the final. In a post on X, Modi said, "Incredible teamwork at the World Athletics Championships! Anas, Amoj, Rajesh Ramesh and Muhammed Ajmal sprinted into the finals, setting a new Asian Record in the M 4X400m Relay." "This will be remembered as a triumphant comeback, truly historical for Indian athletics," he said. The top three finishers in each of the two heats and the n

India, Asian decision on review of FTA in goods expected tomorrow

A decision on a long pending issue of initiating a review of the existing free trade agreement on goods between India and the 10-nation Asean bloc may be taken up during a meeting in Indonesia on Monday, an official said. The issue will come up for discussion and decision during the India-Asean economic ministers meeting on Monday. The meeting is being held on the sidelines of the ongoing meeting of the Economic ministers of ASEAN. An Indian delegation is already there for the deliberations. India has asked for the review of the agreement with an aim to eliminate barriers and misuse of the ASEAN India Trade in Goods Agreement, which came into effect on January 1, 2010. The agenda will come up for discussion and decision tomorrow during the India-Asean (Association of Southeast Asian Nations) economic ministers meeting, the official said. Members of the Asean include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. In general

Surging rice prices make things difficult for billions in Asia and Africa

The grain is vital to the diets of billions in Asia and Africa. Rice contributes as much as 60 per cent of total calorie intake for people in parts of Southeast Asia and Africa

Rice prices soar to highest since 2008 on rising threats to supply

Rice is vital to the diets of billions of people in Asia and Africa, and the surge in prices could add to inflationary pressures and boost import bills for buyers

Rice prices soar to highest since 2008 on rising threats to supply

Rice is vital to the diets of billions of people in Asia and Africa, and the surge in prices could add to inflationary pressures and boost import bills for buyers

CDSL net income inches up 4% to Rs 92 crore in April-June quarter

Central Depository Services (CDSL), which is the only publicly traded depository in Asia, on Monday reported a marginal 4 per cent on-year growth in net income at Rs 92 crore in the April-June quarter. Total income of the city-based company, which was also the first in the category to go public, rose 8 per cent on-year to Rs 170 crore during the reporting quarter. On a consolidated basis, income rose 19 per cent to Rs 174 crore, fetching it a net income of Rs 74 crore, which was more than 28 per cent over the trailing 12 months period, the company said in a statement. The 25-year-old company became the first depository to register over 9 crore demat accounts in July 2023, up from 8.82 crore at end June -- an addition of around 52 lakh accounts in Q1, said Nehal Vora, managing director and chief executive. CDSL along with its subsidiaries provides a host of services to the financial intermediaries and markets, which include CDSL Ventures offering KYC registration for share registrat

Rupee expected to decline on poor risk appetite, weakness in Asian peers

Non-deliverable forwards indicate rupee will open at around 82.32-82.34 to U.S. dollar compared with 82.2550 in the previous session

China's manufacturing contracts in July dragging down Asia factories

The Caixin manufacturing purchasing managers index declined to a six-month low of 49.2 in July from 50.5 in June, below the key 50 level that marks a contraction, a private survey showed

UBS to dispose of riskiest Credit Suisse loans to Asian customers

The bank intends to either wind-down or sell off the majority of Credit Suisse's more complex and higher-risk structured loans in APAC, people familiar with the matter said

Asia's richest families now fuelling race for lucrative finance jobs

"The talent gap is growing and becoming a problem," said instructor Dixon Wong, ahead of his lesson at HKU Space, a continuing education school affiliated with Hong Kong University

IOA asks Randhir to continue as OCA's acting president, will helm Asiad

India's veteran sports administrator Randhir Singh will be in charge of the Olympic Council of Asia during the upcoming Asian Games in Hangzhou, China after the International Olympic Committee refused to recognise the recent election at OCA. The IOA has asked Randhir to continue discharging his duties as the acting president of the OCA. The IOC wrote to Randhir, a former secretary general of the Indian Olympic Association (IOA) and an ex-IOA member, after banning Kuwait's Sheikh Ahmad Al-Fahad Al-Sabah for three years over his alleged involvement in the recent OCA elections in Bangkok, where the latter's brother Sheikh Talal Fahad Al-Ahmad Al-Sabah was appointed president of the top continental sports body by 24 votes to 20. But the IOC, on the recommendation of its ethics commission, refused to recognise Sheikh Ahmad's election to the OCA president's post and launched an investigation into the polls. A former OPEC secretary-general, Sheikh Ahmad was already suspended as a member o

India could play pivotal role in EV revolution: Formula E's Julia Palle

The experience of taking the Formula E to India was "mind-blowing", says sustainability director Julia Palle, who feels that the Asian country can play a pivotal role in the electric vehicle revolution that the world is witnessing. The city of Hyderabad had played host to two races in Round 4 of the ongoing ninth season of the series in February this year. India's automobile industry is the fifth largest globally and is expected to become the third largest by 2030. The size of India's electric vehicle market is also growing each year with surging fuel prices also providing a push to the sales of EVs. According to an estimate, India sold 12,43,258 units of electric vehicles in 2022-23, which is 154 percent more than the figures registered in 2021-22. Palle admitted that India will be a key player going forward. "India was absolutely mind blowing. It was great to enter this market. I mean such an emerging market altogether as such a strong economic power in the world, but also an ..

World is losing battle to wipe out hunger by end of decade: Report

Hunger was still rising in western Asia, the Caribbean and throughout Africa last year

China looms large as Asian leaders seek to enhance ties with NATO

Japan PM will use opportunity to stress the need for relations between Japan and the North Atlantic Treaty Organization to be stronger, Chief Cabinet Secretary Hirokazu Matsuno said

Don't know when will be my last game for India, says Sunil Chhetri

India skipper and mercurial striker Sunil Chhetri on Friday played down the talks about his retirement saying he has not put any timeline for himself to bid adieu to the game. Chhetri is 38 but still continues to be the spearhead of Indian attack, evidenced by the five goals he netted in the ongoing SAFF Championship from three matches. "I don't know when my last game for the country is going to be. It derives from the fact that I have never had long-term targets, I think about next match, next 10 days. It (retirement) may come at a day when probably I don't want to, as there are a lot of things, and I will be done. Till that time, I never think about it," Chhetri said on the eve of India's semifinal against Lebanon. Chhetri, the second highest goal-scorer from Asia with 91 goals, said he has set some parameters for himself to determine about hanging his boots. "Generally, there are some parameters that I think about... whether I am contributing to the team or not, whether I am abl

New images show Chinese spy balloons also targeted Asia: British media

The British media on Monday reported new evidence of China's spy balloon programme, including flights over Japan and Taiwan, months after US-China relations were derailed when one such airship was shot down off the US coast. Working with Synthetaic, an artificial intelligence company which sifted through huge amounts of data captured by satellites, the BBC has found multiple images of balloons crossing East Asia. The company's founder, Corey Jaskolski, found evidence of one balloon crossing northern Japan in early September 2021. These images have not been published before, the BBC reported. Jaskolski also believes the evidence points to this balloon having been launched from deep inside China, south of Mongolia. US-China relations were thrown into turmoil in February this year, when a Chinese spy balloon, said to be the size of three buses, was shot down by American fighter jets over the Atlantic Ocean off the Eastern Seaboard of the United States. China has repeatedly claimed th

Mumbai 18th most expensive city for luxury living: Julius Baer Index

According to the Index, Asia has the maximum number of costly cities for luxury living

Singapore ranked the most expensive city in the world for luxury living

Asia remained the most costly region for luxury living for the fourth straight year