Global rating agency Standard & Poor's on Thursday warned Asia may see lower growth this year due to adverse impact of oil price pressure and tsunami, but said India will be an 'exception.'
India has recorded the second-highest increase in domestic airfares in the Asia-Pacific (APAC) and West Asian regions, climbing by 43 per cent in the first half of 2024 compared to pre-pandemic levels in 2019, second only to Vietnam (63 per cent). India ranks third in fare increases during the same period in international skies, behind the United Arab Emirates (UAE) and Malaysia. The airfare study conducted by Airports Council International (ACI), which represents 617 airports in this region, was done in partnership with Flare Aviation Consulting.
Malaysia Airlines, the operator of Flight MH370 that went missing en route from Kuala Lumpur to Beijing on Saturday, has established a record as one of the Asia-Pacific's best full-service carriers in terms of safety and service.
Among the 30 Sensex companies, Mahindra & Mahindra, Power Grid, Sun Pharma, Nestle, UltraTech Cement, NTPC, ITC, ICICI Bank, Titan, Bajaj Finserv, Bharti Airtel, and HDFC Bank were among the biggest gainers. IndusInd Bank, Adani Ports, Tata Steel, Reliance Industries, Axis Bank and Bajaj Finance were among the laggards.
US President Joe Biden is set to meet his Chinese counterpart on Wednesday in the San Francisco Bay Area, CNN reported, citing senior US administration officials.
The lawmakers also hailed the strong strategic partnership between India and the US during a meeting with an all-party delegation led by Congress MP Shashi Tharoor, who briefed them on the cross-border terrorism faced by India and the country's strong and resolute stance in the fight against terror.
S&P Global Ratings on Tuesday retained India's growth forecast at 6.8 per cent for the current fiscal and said it expects the RBI to start cutting interest rates in its October monetary policy review. In the economic outlook of Asia Pacific, S&P Global Ratings also retained its GDP growth forecast for the 2025-26 fiscal at 6.9 per cent and said solid growth in India will allow the Reserve Bank to focus on bringing inflation in line with its target.
US strikes on Iran's three main nuclear facilities have once again raised concerns that Tehran might shut down the Strait of Hormuz - one of the world's most critical chokepoints, through which a fifth of global oil and gas supply flows.
'The use of AI, especially genAI is only going to get worse, especially in an enterprise ecosystem.'
iPhone maker Apple has set an all-time revenue record in India and observed a double-digit growth in iPad sales in the country in the September 2024 quarter, senior officials of the company said on Friday. The company reported an over 6 per cent growth in total net sales to $94.93 billion during the reported period from $89.49 billion a year ago.
PC maker Lenovo India will start manufacturing 50,000 GPU-based AI servers in India next year, the company said on Tuesday. Besides this, Lenovo announced setting up its fourth largest research and development centre in Bengaluru. Lenovo India managing director Shailendra Katyal said that the company will make servers locally and also export them from its manufacturing unit in Puducherry.
Six US Congressmen have written to the Attorney General of the United States expressing concerns over the Department of Justice's indictment of the Adani Group, alleging it jeopardizes relations with India. The letter, signed by Lance Gooden, Pat Fallon, Mike Haridopolos, Brandon Gill, William R Timmmons, and Brian Babin, criticizes the Biden administration's decision to pursue the case, arguing that it has no real injury to US interests and could negatively impact the strategic partnership between the US and India. The Congressmen call for an investigation into the DOJ's conduct and request records pertaining to the case.
India has become the largest market for Visa debit and pre-paid cards in Asia-Pacific with about 3.39 crore card-holders in 2006, accounting for about 34 per cent of the company's total customer-base of 10 crore in the region.
Samoa batter Darius Visser blasted six sixes to break the record for most runs from one over in a men's T20 International, against Vanuatu.
Sharif said that the US president had shown beyond any doubt that "he is a man for peace... and beneficial business deals".
The opposition INDIA bloc is considering submitting a notice to move a resolution to remove Rajya Sabha Chairman Jagdeep Dhankhar from office, sources said. The opposition had previously considered this in August but decided to give Dhankhar "another chance." The Congress is leading the charge, and the TMC and the Samajwadi Party are supportive. The decision comes after a contentious session in Rajya Sabha where BJP members protested alleged links between Congress leaders and George Soros.
This is the first time in decades that China has made its flight test of an intercontinental ballistic missile public in an apparent show of strategic deterrence, State-run China Daily reported.
India topped the APAC region with 227 transactions in the first eight months of CY24. The US was second with 133 deals while China ranked third with 69 transactions.
Growth in the east Asia region would be dragged down by the poor performance of countries like Thailand, Singapore and Malaysia.
Indian economy is expected to clock an average growth rate of 6.7 per cent till 2026-27 fiscal driven by domestic consumption, S&P Global Ratings senior Economist (Asia Pacific) Vishrut Rana said on Wednesday. He said the economic growth in the current fiscal is expected to come in around 6 per cent, lower than 7.2 per cent clocked in 2022-23. "We are seeing some headwinds from the trade side which is affecting activity and that is one of the factors that is affecting growth this year," Rana said at a webinar.
S&P Global Ratings on Monday cut India's economic growth forecast for current fiscal year to 7 per cent, but said the domestic demand-led economy will be less impacted by the global slowdown. S&P had in September projected the Indian economy to grow 7.3 per cent in 2022-23 and 6.5 per cent in next fiscal year (2023-24). "The global slowdown will have less impact on domestic demand-led economies such as India... India's output will expand 7 per cent in fiscal year 2022-2023 and 6 per cent in next fiscal year," S&P Global Ratings Asia-Pacific chief economist Louis Kuijs said.
As the world climbs out of the deepest recession in recent history, Asia is leading the global recovery.
Several hundred students from Mumbai schools including 20 school-cricket teams, got the opportunity to take photographs with the ICC Men's Cricket ODI World Cup Trophy at the Bombay Scottish school situated at Mahim, north central Mumbai.
According to the Singapore Post, Kiribati a Micronesian country is discussing opening up its largest marine reserves to commercial fishing which may serve a dual purpose like a naval base for the Chinese as well.
Citigroup has said that Asia is likely to boost the profits of the group's consumer business.
Wipro Infotech - the Asia-Pacific and West-Asia arm of the $4 billion Wipro Limited - has restructured its operations. The company has transferred majority of its business to global IT division, Wipro Technologies. Wipro Infotech has also undergone other management changes, and re-alignment of various verticals. According to the mail, Anand Sankaran is being appointed chief executive of Wipro Infotech.
India said on Tuesday it views the 16-member forum of the East Asia Summit as an opportunity to create a regional architecture for cooperation and deeper integration in the Asia Pacific region.
The airline industry is projected to register a net profit of $25.7 billion in 2024 as more normal growth is expected in both passenger and cargo segments, global grouping IATA said on Wednesday. For 2023, the net profit is estimated at $23.3 billion, significantly higher than the $9.8 billion projected by the International Air Transport Association (IATA) in June this year. IATA has more than 300 airlines as members.
While China continues to be the largest engine for growth in Asia, other parts of the region were also seeing significant increases in demand for travel with a fast-expanding middle class providing a 'brighter outlook' for Asian carriers, the latest study by the Association of Asia Pacific Airlines has said.
Challenging the decision of the Biden Administration to investigate the activities of Indian billionaire Gautam Adani and his companies, an influential Republican lawmaker on Tuesday said such selective actions risk damaging critical alliance partners.
India's historical focus on its continental borders has overshadowed its maritime ambitions, but that is changing quickly, notes Ajai Shukla.
Oil and LNG prices are likely to shoot up if Iran is to block Strait of Hormuz, through which countries like India import crude oil from Saudi Arabia, Iraq and UAE, leading to a spike in inflation, analysts said on the Iran-Israel conflict. The Iran and Israel conflict has escalated over the last few days. Iran first launched drone and rocket attacks on Israel, which retaliated by firing a missile. Crude oil prices have hovered around USD 90 per barrel since the conflict.
Tata Elxsi (TelX) reported a weak Q3FY25, with a sharp deceleration in the transportation vertical. However, recent deals in the Asia-Pacific (APAC), higher mix of original equipment makers (OEMs) and partnership with Qualcomm will improve growth. FY25 is the third successive financial year of revenue growth deceleration and second successive financial year of profit deceleration.
Amazon Web Services (AWS) will invest nearly $4.4 billion (Rs 36,000 crore) in India by 2030 and support more than 48,000 jobs externally through a new regional service launched on Tuesday, said the on-demand Cloud computing company. AWS Asia Pacific (Hyderabad) is the company's second infrastructure region in India, six years after it opened its first Cloud region in Mumbai in 2016. The Hyderabad region will give customers access to AWS technologies for data analytics, security, machine learning, and artificial intelligence.
Incidence of 'vulnerable employment' is highest in South Asia, including India, with 580 million people in the region falling under the category, says the annual Global Employment Trends report of the International Labour Organisation.
The list covers companies with annual revenue of $5 mn to $1 bn.
Most global as well as domestic brokerages are upbeat on India's largest IT services provider, Tata Consultancy Services (TCS), despite its performance during the December quarter of FY25, when it missed Street estimates. On the bourses, the TCS share price rallied as much as 6.44 per cent to hit an intraday high of Rs 4,296.80 apiece, before settling 5.67 per cent higher at Rs 4,265.55.
Ever since the Quad started taking shape in 2007, China has been saying that the four-member grouping will be bound to fail. But much to the chagrin of Beijing, it picked up pace in the recent years emerging as a premier strategic group especially challenging China's assertiveness in the disputed South China Sea.
We have nothing to gain by raising our concerns internationally as our narrative has got entangled with several controversial concepts in the United Nations, asserts Ambassador T N Sreenivasan.
The Asia-Pacific Mobile Alliance plans to promote voice, video and data via members' GSM/GPRS and W-CDMA networks.
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