News

ADB approves $500 million loan to boost Indonesia`s energy transition The Asian Development Bank (ADB) on Friday said it has approved a policy-based loan of $500 million to accelerate Indonesia's transition towards sustainable and clean energy.  The Affordable and Sustainable Energy Transition Program will support various policy measures for the country to achieve its enhanced nationally determined contribution and net-zero power emission targets by 2050, of which this is the first of two subprogrammes, Xinhua news agency reported. The rapid expa...
ADB approves $500 million loan to boost Indonesia`s energy transition
ADB approves $500 million loan to boost Indonesia`s energy transition
Source: IANS
2024-09-20 11:41:51 am
ADB approves US$109.5 million in financing to Kyrgyzstan The Asian Development Bank (ADB) on Thursday said it has approved US$109.5 million in financing to fund a road project around the Issyk-Kul Lake, one of the most popular tourist destinations in Kyrgyzstan.  The Issyk-Kul Ring Road Improvement Project will construct 75.2 kilometres of the national road traversing the Barskoon to Karakol section of the Issyk-Kul Ring Road, which adjoins the Central Asia Regional Economic Cooperation Corridor 1, Xinhua news agency reported. The ADB sa...
ADB approves US$109.5 million in financing to Kyrgyzstan
ADB approves US$109.5 million in financing to Kyrgyzstan
Source: IANS
2024-09-19 02:09:46 pm
Africa Aerospace and Defense 2024 opens in South Africa The Africa Aerospace and Defense (AAD) 2024 kicked off in Pretoria, the administrative capital of South Africa, showcasing the latest advances in technology, goods and services from the international defence industry.  Running until Sunday, the 12th edition of the AAD features cutting-edge innovations in aviation, aerospace, and defence. Segomotso Tire, chairperson of the AAD Executive Committee, emphasised that the exhibition offers a key platform for industry players to present thei...
Africa Aerospace and Defense 2024 opens in South Africa
Africa Aerospace and Defense 2024 opens in South Africa
Source: IANS
2024-09-19 12:20:33 pm
US Fed cuts interest rate by a half percentage point The US central bank on Wednesday announced a large half percentage point cut in the interest rate, the first reduction in four years. It comes down from 5.35 per cent to between 4.75 per cent and 5 per cent.  "Recent indicators suggest that economic activity has continued to expand at a solid pace," the Federal Reserve said in a statement. Job gains have slowed, and the unemployment rate has moved up but remains low. Inflation has made further progress toward the Committe...
US Fed cuts interest rate by a half percentage point
US Fed cuts interest rate by a half percentage point
Source: IANS
2024-09-19 09:21:33 am
US Fed rate cut to drive stocks of AI companies: Experts  Stocks of AI companies are set to bounce as the US Fed Reserve gears up to cut interest rates, a report said on Wednesday.  The AI sector – which is experiencing a dip - is primed for a significant rally, according to Nigel Green of deVere Group. “The AI sector is expected to benefit from the Fed’s shift to monetary easing, opening the door to renewed growth, increased investment, and a surge in innovation,” Green predicted. US central bank’s ...
US Fed rate cut to drive stocks of AI companies: Experts
US Fed rate cut to drive stocks of AI companies: Experts
Source: IANS
2024-09-18 12:21:29 pm
India achieved 2 out of 3 NDC targets under Paris Agreement: Environment Minister Bhupender Yadav India has achieved two out of three quantitative nationally determined contributions (NDCs) targets of the Paris Agreement, nine years ahead of schedule, Union Environment, Forest, and Climate Change Minister Bhupender Yadav announced on Tuesday.  "It is a matter of great pride that India, under the leadership of our Hon’ble Prime Minister Shri Narendra Modiji, has achieved 2 out of 3 quantitative NDC targets of the Paris Agreement, 9 years ahead of schedule," he said ...
India achieved 2 out of 3 NDC targets under Paris Agreement: Environment Minister Bhupender Yadav
India achieved 2 out of 3 NDC targets under Paris Agreement: Environment Minister Bhupender Yadav
Source: IANS
2024-09-18 09:14:23 am
ASEAN countries discuss ways to enhance regional trade Representatives from the member states of the Association of Southeast Asian Nations (ASEAN) have met in the Lao capital, Vientiane, to discuss enhancing regional trade by simplifying trade barriers and implementing trade facilitation measures.  The representatives gathered on Monday for the 38th ASEAN Free Trade Area (AFTA) Council Meeting, according to a report from Laos' Ministry of Industry and Commerce on Tuesday. In his opening remarks, Lao Minister of Industry and Commer...
ASEAN countries discuss ways to enhance regional trade
ASEAN countries discuss ways to enhance regional trade
Source: IANS
2024-09-18 08:53:39 am
Tokyo stocks end lower on US rate cut expectations Tokyo stocks closed lower on Tuesday, with the benchmark Nikkei briefly sliding more than 2 per cent, as the yen strengthened against the US dollar amid expectations of a larger interest rate cut by the US Federal Reserve this week.  Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 378.54 points, or 1.03 per cent, from Friday at 36,203.22. Japanese markets were closed on Monday for a national holiday, Xinhua news agency reported. The broader ...
Tokyo stocks end lower on US rate cut expectations
Tokyo stocks end lower on US rate cut expectations
Source: IANS
2024-09-17 04:13:22 pm
Australia, UAE reach agreement on free trade deal Australia and the United Arab Emirates (UAE) have reached a deal on a free trade agreement. Don Farrell, Australia's Minister for Trade and Tourism, on Tuesday announced that negotiations on the Australia-UAE Comprehensive Economic Partnership Agreement have concluded, Xinhua news agency reported. He said at a press conference in Canberra that the deal would eliminate tariffs on more than 99 per cent of Australian products entering the UAE. "This is the first trade agreement...
Australia, UAE reach agreement on free trade deal
Australia, UAE reach agreement on free trade deal
Source: IANS
2024-09-17 01:47:02 pm
India, US hail collaboration to drive clean energy transition India and the US are making significant progress to drive energy innovation, strengthen energy security and accelerate clean energy transitions, including through more focused efforts on clean energy manufacturing and building resilient, responsible, stable, secure and diversified supply chains, it was announced on Tuesday.  According to the India and US Strategic Clean Energy Partnership (SCEP) ministerial meeting, convened by US Energy Secretary Jennifer Granholm and Union Petroleum...
India, US hail collaboration to drive clean energy transition
India, US hail collaboration to drive clean energy transition
Source: IANS
2024-09-17 09:39:33 am
World problems can`t be solved without India`s involvement: German Minister Germany's Development Minister Svenja Schulze, who is on a three-day visit to Gujarat to represent her country at the 4th Global Renewable Energy Investor's (RE-INVEST) meet here, has said that the problems of the world cannot be solved without India's involvement. In an exclusive conversation with IANS on Monday, Schulze, who is leading a delegation of around 20 representatives, emphasised the growing importance of India's involvement in solving global challenges and the p...
World problems can`t be solved without India`s involvement: German Minister
World problems can`t be solved without India`s involvement: German Minister
Source: IANS
2024-09-17 09:19:13 am
Bank of Korea likely to cut key rate in November South Korea's central bank is likely to cut its policy rate in November, rather than in October, as it wants to be confident of a slowdown in household debt increase amid moderating inflation, analysts have said.  The Bank of Korea (BOK) has only two rounds of its monetary decision meetings left this year in October and November. Last month, the BOK kept interest rates unchanged at 3.5 percent, the highest level in about 16 years, for the 13th straight time. The central bank de...
Bank of Korea likely to cut key rate in November
Bank of Korea likely to cut key rate in November
Source: IANS
2024-09-14 12:29:51 pm
Stalin returns to Chennai with Rs 7,600 crore investment from US Tamil Nadu Chief Minister M. K. Stalin, who was on a 17-day US visit, returned to Chennai on Saturday morning after garnering investments totalling Rs 7,600 crore for the state.   Stalin was received by his cabinet colleagues, DMK leaders and officials at the airport. He left for the US on August 17, accompanied by his wife Durga Stalin and a horde of officials. During his visit, Stalin met the officials of the US automobile major, Ford in Chicago, and the company was all set to...
Stalin returns to Chennai with Rs 7,600 crore investment from US
Stalin returns to Chennai with Rs 7,600 crore investment from US
Source: IANS
2024-09-14 11:58:43 am
UK fiscal sustainability at risk: Public finance watchdog The United Kingdom's public debt is projected to exceed 270 per cent of its gross domestic product (GDP) by 2070, according to a report published by the Office for Budget Responsibility (OBR).   The projection is based on policy settings as of March 2024. In its latest Fiscal Risks and Sustainability Report, the OBR forecast that public spending in the United Kingdom (UK) will rise from 45 per cent to over 60 per cent of GDP over the next 50 years, while revenues are expected t...
UK fiscal sustainability at risk: Public finance watchdog
UK fiscal sustainability at risk: Public finance watchdog
Source: IANS
2024-09-14 11:39:45 am
Japan`s Sumitomo Corp enters renewable energy market in India Japanese trading house Sumitomo Corp has entered India's renewable energy market by creating a joint venture with Indian renewable energy company AMPIN Energy Transition, Sumitomo said on Friday. Sumitomo, which holds 49% in the JV with AMPIN Energy Transition having the rest, said the two planned to supply energy from solar and wind to clients in India and to make 100 billion yen ($710 million) in total investments in the project. Sumitomo plans further expansion in the renewable e...
Japan`s Sumitomo Corp enters renewable energy market in India
Japan`s Sumitomo Corp enters renewable energy market in India
Source: Reuters
2024-09-13 02:32:30 pm
Dollar dives to 2024 low, gold at record high on revived bets for jumbo Fed cut The dollar slumped to its lowest this year on Friday versus the yen while gold hit a record high as investors ratcheted up bets for a super-sized Federal Reserve interest rate cut next week. Shares in Asia also advanced after traders raised bets back to 45% for a 50-basis point U.S. rate cut on Sept. 18, according to LSEG data at 0510 GMT, from about 28% before articles in the Financial Times and Wall Street Journal each called the decision "a close call". Influential former N...
Dollar dives to 2024 low, gold at record high on revived bets for jumbo Fed cut
Dollar dives to 2024 low, gold at record high on revived bets for jumbo Fed cut
Source: Reuters
2024-09-13 09:06:20 am
Asian Development Bank approves 100 million USD loan to Sri Lanka The Asian Development Bank (ADB) on Wednesday said it has approved a policy-based loan of 100 million US dollars to support Sri Lanka's water supply and sanitation sector reforms, which are designed to enhance the country's resilience to climate change impacts and promote long-term sustainability.   The ADB said the Water Supply and Sanitation Reform Programme, composed of two subprogrammes of 100 million dollars each, will contribute to a more resilient and sustainable deliv...
Asian Development Bank approves 100 million USD loan to Sri Lanka
Asian Development Bank approves 100 million USD loan to Sri Lanka
Source: IANS
2024-09-12 11:19:00 am
SEMI, IESA join hands to boost India`s position in global chip value chain In a bid to bolster India's position in the global semiconductor value chain, industry association SEMI on Wednesday announced a strategic agreement with the India Electronics and Semiconductor Association (IESA).  IESA will become part of the global SEMI family and represent SEMI in India. It will continue to use its current brand while beginning to implement SEMI’s processes and select initiatives, it was announced during the ‘Semicon India 2024’ event. &ldq...
SEMI, IESA join hands to boost India`s position in global chip value chain
SEMI, IESA join hands to boost India`s position in global chip value chain
Source: IANS
2024-09-12 10:56:00 am
Asian shares up on Wall Street tech boost, dollar extends gains on yen Asian shares bounced on Thursday, tracking a tech-driven rally on Wall Street, while the dollar held onto gains after U.S. core inflation surprised slightly on the upside and dashed hopes of a large rate cut by the Federal Reserve next week. Investors are now awaiting a policy decision from the European Central Bank later in the day where a rate cut is almost a certainty, but the question remains whether it would move again in both October and December. MSCI's broadest index of Asia...
Asian shares up on Wall Street tech boost, dollar extends gains on yen
Asian shares up on Wall Street tech boost, dollar extends gains on yen
Source: Reuters
2024-09-12 08:52:08 am
SEMICON India 2024: Top semiconductor CEOs laud PM Narendra Modi`s vision Leading figures from the global semiconductor industry praised Prime Minister Narendra Modi's leadership and vision for advancing India's semiconductor sector during their addresses at SEMICON India 2024, held here at the India Expo Mart on Wednesday.  Among those who spoke were Ajit Manocha, President & CEO of SEMI; Randhir Thakur, CEO & MD of Tata Electronics; Kurt Sievers, President & CEO of NXP Semiconductors; Hidetoshi Shibata, CEO of Renesas Elect...
SEMICON India 2024: Top semiconductor CEOs laud PM Narendra Modi`s vision
SEMICON India 2024: Top semiconductor CEOs laud PM Narendra Modi`s vision
Source: IANS
2024-09-11 05:26:26 pm
150 chip fabs required to achieve $1 trillion target by 2030, India in sweet spot With artificial intelligence (AI) fuelling global semiconductor demand, around 150 new fabrication units will be required to meet the industry’s ambitious $1 trillion target by 2030 and India will need to achieve exponential growth to maximise its share, industry leaders said on Wednesday.  Speaking at the ‘Semicon India 2024’ event here inaugurated by Prime Minister Narendra Modi in the presence of key industry stakeholders, Ajit Manocha, President and CEO, SEMI, sa...
150 chip fabs required to achieve $1 trillion target by 2030, India in sweet spot
150 chip fabs required to achieve $1 trillion target by 2030, India in sweet spot
Source: IANS
2024-09-11 05:13:37 pm
Ford held talks with Indian state to restart production for exports, minister says Ford Motor has held talks with India's southern state of Tamil Nadu to explore producing vehicles for exports, Tamil Nadu's chief minister M.K. Stalin said on Wednesday. The U.S. automaker had stopped making cars in India three years ago after struggling to boost sales in a market dominated by Asian rivals. "Had a very engaging discussion with the team from Ford Motors. Explored the feasibility of renewing Ford's three decade partnership with Tamil Nadu, to again make i...
Ford held talks with Indian state to restart production for exports, minister says
Ford held talks with Indian state to restart production for exports, minister says
Source: Reuters
2024-09-11 11:55:23 am
SSE, EET Hydrogen partner on green hydrogen production facility in UK Two leading energy companies have united to develop a new green hydrogen production facility in the North West of England.  SSE and EET Hydrogen have begun development work on the innovative project at the Stanlow Manufacturing Complex in Ellesmere Port in Cheshire. Known as Gowy Green Hydrogen, it takes its name from the Gowy River and the nearby Gowy Meadows Nature Reserve. The initial expected 40MWe facility will deliver hydrogen to industrial offtakers in the region to support ...
SSE, EET Hydrogen partner on green hydrogen production facility in UK
SSE, EET Hydrogen partner on green hydrogen production facility in UK
Source: IANS
2024-09-11 09:39:07 am
Stocks falter, dollar defensive after US presidential debate Asian markets wobbled and U.S. stock futures slipped on Wednesday after Democratic Vice President Kamala Harris and Republican Donald Trump clashed in a keenly-awaited U.S. presidential debate. The presidential hopefuls battled over abortion, the economy, immigration and Trump's legal woes at their combative first debate. That left investors skittish in Asian trade as markets also geared up for U.S. inflation data that could influence the Federal Reserve's policy moves next week...
Stocks falter, dollar defensive after US presidential debate
Stocks falter, dollar defensive after US presidential debate
Source: Reuters
2024-09-11 09:20:56 am
Kia 1st in customer experience among automotive brands in India : Data Kia has ranked first among automotive brands operating in India in terms of overall customer experience, the South Korean company said on Tuesday, citing local industry data.  Toyota and Tata Motors came in second and third, with 45.83 per cent and 44.35 per cent, respectively. According to Kia, the company ranked first, with a score of 45.84 percent, in the overall customer experience index survey conducted by the Federation of Automobile Dealers Associations of India (FADA) recen...
Kia 1st in customer experience among automotive brands in India : Data
Kia 1st in customer experience among automotive brands in India : Data
Source: IANS
2024-09-10 10:53:44 am
Rajasthan CM meets South Korean investors, says government aspires to build long-term partnership Leading a high-level delegation, CM Sharma is in Seoul for his first international investors' meet ahead of the upcoming 'Rising Rajasthan Global Investment Summit', scheduled to be held in December. He told investors on Monday that "the state is constantly improving processes and policies to provide 'ease of doing business' in the state". Exhorting the startups, innovators and members from South Korea's top business groups, to do business in the state,...
Rajasthan CM meets South Korean investors, says government aspires to build long-term partnership
Rajasthan CM meets South Korean investors, says government aspires to build long-term partnership
Source: IANS
2024-09-10 10:41:11 am
India and UAE solidify strategic partnership during Abu Dhabi Crown Prince`s Delhi visit Welcoming the third generation of UAE leadership to the Rashtrapati Bhavan, President Droupadi Murmu on Monday highlighted that the "historic yet forward-looking" bilateral relationship between India and the United Arab Emirates has been transformed after having been steered by the "visionary leadership" of both countries over the past decade. As Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi, called on her Monday afternoon, President Murmu...
India and UAE solidify strategic partnership during Abu Dhabi Crown Prince`s Delhi visit
India and UAE solidify strategic partnership during Abu Dhabi Crown Prince`s Delhi visit
Source: IANS
2024-09-10 09:45:48 am
China hobbles Asia shares; US data, Fed meet in view Asian stocks inched slightly higher on Tuesday but struggled to sustain an upbeat rally on Wall Street as concerns about a faltering Chinese economy dampened the market mood. Data on Tuesday showed China's exports grew at their fastest since March 2023 in August, suggesting manufacturers are rushing out orders ahead of tariffs expected from a number of trade partners, while imports missed forecasts amid weak domestic demand. That followed Monday's inflation figures that pointed ...
China hobbles Asia shares; US data, Fed meet in view
China hobbles Asia shares; US data, Fed meet in view
Source: Reuters
2024-09-10 09:14:20 am
Taiwan`s Delta Electronics aims to double India workforce Taiwan's Delta Electronics said on Monday it plans to almost double its workforce in India over the next five years, including by setting up its largest research centre in the country whose role in the global tech industry has been rising. The company, which supplies power components to other companies, opened the R&D centre in the southern city of Bengaluru and said it plans to add 3,000 employees in five years, up from about 3,500 currently. Delta Electronics, which now h...
Taiwan`s Delta Electronics aims to double India workforce
Taiwan`s Delta Electronics aims to double India workforce
Source: Reuters
2024-09-09 05:36:22 pm
Carrefour teams up with Dubai`s Apparel Group to expand into India French multinational retail giant Carrefour is launching a franchise partnership with Dubai-based Apparel Group to establish its presence in India. The partnership will be aimed at North India initially, with further expansion planned across the country and the first store openings expected in 2025, Carrefour said on Friday. WHY IT'S IMPORTANT With a population of about 1.4 billion people, India is one of the world's largest food markets with the additional attraction of risi...
Carrefour teams up with Dubai`s Apparel Group to expand into India
Carrefour teams up with Dubai`s Apparel Group to expand into India
Source: Reuters
2024-09-09 02:08:20 pm
Boeing reaches historic pay contract with workers' union Global aerospace major Boeing on Sunday announced it has reached a tentative pay agreement with the International Association of Machinists and Aerospace Workers (IAM) which represents more than 33,000 employees.  The pact has ended weeks of intense negotiations and avoiding a potential strike. “We've heard what’s important to you for the new contract. And we have reached a tentative agreement with the union on a historic offer that takes care of you and your family...
Boeing reaches historic pay contract with workers' union
Boeing reaches historic pay contract with workers' union
Source: IANS
2024-09-09 09:19:07 am
World stocks dip, European shares jump on ECB rate cut hopes World equities dithered at four-week lows on Monday, pressured by falling stocks in Asia, while European shares climbed on the prospect of an ECB rate cut on Thursday, government bond yields rose, and oil recovered from last week's beating. MSCI's gauge of stocks around the globe fell 1.94 points or 0.24% to its lowest level in almost a month, while Europe's STOXX 600 index rose 0.61%. Data on Monday showed China's consumer prices index rose in August at the fastest pace...
World stocks dip, European shares jump on ECB rate cut hopes
World stocks dip, European shares jump on ECB rate cut hopes
Source: Reuters
2024-09-09 08:45:20 am
Slowdown in US economy to push FPIs buy more in India As the unemployment rate falls in the US but hiring slows down as Federal Reserve gears up for a rate cut this month, the developments are likely to push foreign portfolio investors (FPIs) increase their investments in India, market experts said on Saturday.  Early September witnessed buying by FPIs mainly due to the resilience of the Indian market. FPIs invested Rs 9,642 crore in equity through the exchanges and Rs 1,388 crore through the ‘primary market and others’ ca...
Slowdown in US economy to push FPIs buy more in India
Slowdown in US economy to push FPIs buy more in India
Source: IANS
2024-09-07 05:24:58 pm
India`s EV maker Wardwizard Innovations to form joint venture in Saudi Arabia  Indian electric vehicle maker Wardwizard Innovations and Mobility announced on Friday it received a letter of intent to form a joint venture in Saudi Arabia, aiming to establish an assembly plant and an EV cell plant in the kingdom. The assembly plant will initially focus on producing electric two-wheelers, three-wheelers and four-wheelers, with plans to expand in the future to include electric bus production. The EV cell plant will be dedicated to manufacturing electric vehicle c...
India`s EV maker Wardwizard Innovations to form joint venture in Saudi Arabia
India`s EV maker Wardwizard Innovations to form joint venture in Saudi Arabia
Source: Reuters
2024-09-07 09:13:01 am
Bangladesh slashes duties on vegetable imports Bangladesh's tax collection body, the National Board of Revenue, has reduced taxes on imports of onion and potato to rein in soaring prices of essential kitchen items.  The board has waived the 5 per cent regulatory duty on onion imports and reduced customs duty on potato imports from 25 per cent to 15 per cent, the tax authority said in a statement on Thursday, Xinhua news agency reported. Apart from this, the board has reduced tariffs on pesticide imports from 25 per cent to ...
Bangladesh slashes duties on vegetable imports
Bangladesh slashes duties on vegetable imports
Source: IANS
2024-09-06 10:46:39 am
Syrian businesses eye global market via debut trade expo Syrian business representatives and industry insiders view the country's first international trade expo as a significant opportunity for local businesses to enter global markets.  Expo Syria 2024, which opened Wednesday at Exhibition City near Damascus, has drawn over 600 companies from various sectors and attracted more than 3,000 foreign traders and business figures. Raed Al-Nouri of Syria's Al-Nouri Food Company told Xinhua news agency that the five-day expo is "a g...
Syrian businesses eye global market via debut trade expo
Syrian businesses eye global market via debut trade expo
Source: IANS
2024-09-06 09:54:56 am
Markets on tenterhooks ahead of key US jobs data  Asian shares clung to tight ranges and the dollar nursed losses on Friday, with investors on tenterhooks ahead of U.S. jobs data that could decide the size and speed of coming rate cuts in the world's largest economy. As of now, oil prices are staring down their worst week in more than a year to hover just above a critical chart level, with their near-term fate depending on the payrolls report due later in the day. [O/R] MSCI's broadest index of Asia-Pacific shares outside...
Markets on tenterhooks ahead of key US jobs data
Markets on tenterhooks ahead of key US jobs data
Source: Reuters
2024-09-06 09:10:03 am
XLRI Jamshedpur set to launch the fourth batch of Postgraduate Diploma in HR Management for Emerging CHROs in collaboration with Leadup Universe  XLRI, one of India’s oldest and most esteemed business schools, announces the commencement of the 4th batch of its Postgraduate Diploma in Management (HRM) for Emerging CHROs in partnership with Leadup Universe, a pioneering executive education and career acceleration platform. Set to commence in April 2025, the program is tailored specifically for professionals in the talent pipeline for Chief Human Resources Officers (CHROs). The 18-month program, compr...
XLRI Jamshedpur set to launch the fourth batch of Postgraduate Diploma in HR Management for Emerging CHROs in collaboration with Leadup Universe
XLRI Jamshedpur set to launch the fourth batch of Postgraduate Diploma in HR Management for Emerging CHROs in collaboration with Leadup Universe
Source: PR Agency
2024-09-05 05:04:08 pm
ADB launches new six-year plan to help Philippines achieve resilient growth The Asian Development Bank (ADB) on Thursday said that it has launched a new six-year country partnership strategy for the Philippines' sustained, inclusive, and resilient growth in the face of climate challenges.   Spanning from 2024 to 2029, the strategy will focus on addressing the country's critical development needs and bolstering support in three key areas: human development, economic competitiveness and quality infrastructure, as well as nature-based development and di...
ADB launches new six-year plan to help Philippines achieve resilient growth
ADB launches new six-year plan to help Philippines achieve resilient growth
Source: IANS
2024-09-05 04:33:53 pm
Swiss submits India free trade agreement to parliament The Swiss government has submitted its proposed free trade agreement with India to parliament, it said on Thursday, moving closer to a deal that could open up the world's most populous country to Swiss exports. The agreement between India and the European Free Trade Association (EFTA) - which has also has Iceland, Norway and Liechtenstein as members - is a "significant milestone" in Swiss trade policy, the government said. Under the agreement, India will lift import tariff...
Swiss submits India free trade agreement to parliament
Swiss submits India free trade agreement to parliament
Source: Reuters
2024-09-05 02:28:15 pm
South Korea to strengthen space exploration capabilities to compete in global space race The Korea AeroSpace Administration (KASA) unveiled an ambitious vision on Thursday to develop a competitive space transportation system and a forward-looking exploration strategy, aiming to join the elite ranks in the global space race.   Yoon Young-bin, head of South Korea's National Space Agency, emphasised the goal of creating a space economy by building a cost-effective transportation system by the 2030s, Yonhap news agency reported. He said KASA will build a "space p...
South Korea to strengthen space exploration capabilities to compete in global space race
South Korea to strengthen space exploration capabilities to compete in global space race
Source: IANS
2024-09-05 12:54:30 pm
Leaders of India and Singapore sign deal to cooperate on semiconductors The leaders of India and Singapore on Thursday signed an agreement to partner and cooperate in semiconductors, in a deal aimed at giving Singaporean firms a greater role in supply chains in the Indian market, the two countries said. A Memorandum of Understanding (MoU) was signed during Indian Prime Minister Narendra Modi's two-day visit to Singapore, his fifth overall and first since 2018. "Singapore and India will leverage complementary strengths in their semiconductor ecosyst...
Leaders of India and Singapore sign deal to cooperate on semiconductors
Leaders of India and Singapore sign deal to cooperate on semiconductors
Source: Reuters
2024-09-05 11:27:29 am
Asian shares try to stabilise after global sell-off; focus on US data Asian share markets tried to regain their footing on Thursday after a steep sell-off, while a rally in Treasuries dented the dollar and lifted the yen as U.S. economic worries raised the odds of the Federal Reserve going big on rate cuts. Oil prices were steady in early trading after dropping in the previous sessions on weak demand and supply woes, while gold edged higher. [GOL/] [O/R] In a data-packed week, investors are poring over the reports dropping in to gauge the health of the U....
Asian shares try to stabilise after global sell-off; focus on US data
Asian shares try to stabilise after global sell-off; focus on US data
Source: Reuters
2024-09-05 08:42:02 am
Australia to underwrite construction of six battery projects The Australian government will underwrite the construction of six new big battery projects in the country's southeast under the first round of its Capacity Investment Scheme (CIS).  On Wednesday, Chris Bowen, the Minister for Climate Change and Energy, named six winners of the pilot round of the CIS, under which the government aims to underwrite private companies to build 32 gigawatts (GW) of renewable electricity projects by 2030, Xinhua news agency reported. Four batteries wi...
Australia to underwrite construction of six battery projects
Australia to underwrite construction of six battery projects
Source: IANS
2024-09-04 10:08:40 am
Maldives President approves new FDI act to boost investor confidence, economic reforms Maldives President Mohamed Muizzu has approved the Foreign Direct Investment (FDI) Act, which is expected to bring new advantages to the island nation by aligning the country's investment framework with the current global climate, state media said.   The previous Act had been in effect for 45 years and no longer matched the present-day global investment environment and economic situations, PSM News reported on Tuesday. The purpose of the new Act is to establish guidelines on w...
Maldives President approves new FDI act to boost investor confidence, economic reforms
Maldives President approves new FDI act to boost investor confidence, economic reforms
Source: IANS
2024-09-04 09:27:27 am
Stocks, oil slide as growth worries resurface Asian shares and global stock futures tumbled on Wednesday while oil prices hit multi-month lows as a sharp tech selloff on Wall Street and resurgent worries about U.S. growth drove investors out of risky assets. Japan's Nikkei led the slump in Asia, falling more than 3%, while MSCI's broadest index of Asia-Pacific shares outside Japan lost 1.6% in early trade. September has historically been a bad month for stocks, though analysts pointed to a confluence of factors behind the r...
Stocks, oil slide as growth worries resurface
Stocks, oil slide as growth worries resurface
Source: Reuters
2024-09-04 08:43:19 am
Toyota, Maruti launch marketing drive for hybrids in key Indian state From Instagram ads to telesales, Japanese automakers Toyota and Maruti Suzuki are going all out to market their hybrid cars in the most populous Indian state of Uttar Pradesh, aiming to cash in on tax waivers that upset many of their rivals. The waivers have split India's auto industry, with Tata Motors, Mahindra and Mahindra and Hyundai arguing their sales of pure electric cars will suffer. Their lobbying to reverse the July decision failed last month and they now fear other states mi...
Toyota, Maruti launch marketing drive for hybrids in key Indian state
Toyota, Maruti launch marketing drive for hybrids in key Indian state
Source: Reuters
2024-09-03 05:34:00 pm
EET Fuels enters front-end engineering design stage, appoints Toyo-India for industrial carbon capture project EET Fuels, the trading name of Essar Oil UK, which plans to create the world’s leading low-carbon process refinery, has progressed to the front-end engineering design (FEED) stage of its industrial carbon capture (ICC) project.  The company has appointed Toyo Engineering India Pvt Ltd (Toyo-India) (100 per cent subsidiary of Toyo Engineering Corporation, Japan) a leading Engineering, Procurement and Construction company, to carry out the FEED phase -- an integral part of the pro...
EET Fuels enters front-end engineering design stage, appoints Toyo-India for industrial carbon capture project
EET Fuels enters front-end engineering design stage, appoints Toyo-India for industrial carbon capture project
Source: IANS
2024-09-03 02:54:17 pm