SOUTH ASIA TRANSPORT INFRASTRUCTURE
Asia a key part of our global expansion plan: Greg Norman, CEO, LIV Golf
LIV Golf CEO Greg Norman discusses the league's plans for global expansion, particularly in Asia. He highlights the success of their team-based franchise model and its potential for growth, emphasizing the league's commitment to innovation and fan engagement as it reshapes professional golf.
Working Group discusses Chabahar Port's role in supporting Afghanistan's reconstruction, eco development
India hosted the Third Working Group meeting on Chabahar Port, emphasizing its significance in bolstering Afghanistan's reconstruction and economic growth. Participants highlighted the port's role in providing an alternative trade route to Central Asia and discussed strategies to enhance regional connectivity.
Transport assets worth USD 400 billion in India exposed to climate hazards: Report
A new report reveals that climate change poses a significant risk to South Asia's transport infrastructure, with USD 575 billion worth of assets, including USD 400 billion in India, vulnerable to climate hazards. The report emphasizes the urgent need for resilience measures to prevent economic losses and protect the region's GDP.
AI, 5G, cloud drive India's data centre surge, push institutional investments
India's data center capacity is projected to surge by 66% by 2026, fueled by AI, cloud computing, and 5G adoption. This growth is attracting significant investments, with Navi Mumbai emerging as a key data center hub. The expansion is expected to create jobs, bolster digital infrastructure, and position India as a global technology leader.
As Trump return looms, China's Xi calls for more free trade in Asia
At the Asia-Pacific Economic Cooperation (APEC) summit in Lima, Chinese President Xi Jinping urged the region to promote free trade in the face of "rising protectionism." Xi emphasized the importance of removing barriers to trade, investment, technology, and services to maintain a stable industrial supply chain, according to Chinese state media.
AirAsia to operate flight service from Port Blair to Kuala Lumpur from Saturday
AirAsia is set to launch the first-ever international flight from Port Blair in the Andaman and Nicobar Islands to Kuala Lumpur, Malaysia. This development marks a significant milestone for the region, promising to boost tourism and enhance connectivity with Southeast Asia.
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Northeastern region has received govt funding of close to 27,000 crore per annum: Jyotiraditya Scindia
Union Minister Jyotiraditya Scindia, during a Mizoram visit, reviewed development projects, highlighting the Northeast's growth with significant government funding. He emphasized infrastructure improvements like highways, airports, and railways, contrasting increased recent investments with the previous decade. Scindia also noted Mizoram's progress in road connectivity, railway expansion, and potential in sectors like aviation and agriculture.
False data on Goa tourism a cause of concern: Minister
Goa's tourism minister addressed concerns about false tourism data. The state government is taking action against the misinformation. Goa's tourism is performing well. The minister highlighted the actual number of tourists. The government is working to improve the tourism experience. Goa is exploring new markets to attract more tourists.
Bangladesh may need Indian help to manage economy
Bangladesh's reliance on India extends beyond electricity to encompass various infrastructure projects financed by Indian credit lines worth $8 billion. This dependence is evident in sectors like transportation, irrigation, and energy, with Bangladesh importing 1,160 MW of power from India. Experts suggest this reliance, while fostering growth, also exposes Bangladesh to economic vulnerabilities.
SC ruling on LMV licences to ease way for app cabs
¡°Nearly 70% of the commercial (passenger vehicle) drivers simply hold an LMV (light motor vehicle) licence without the transport endorsement¡if the Supreme Court¡¯s decision went the other way, it would have been a nightmare,¡± a senior executive at a ride-hailing platform told ET.
In South America, Trump already losing a trade battle with China
China's influence in South America, particularly in Peru, is growing rapidly, fueled by its demand for natural resources and investments in infrastructure projects like the Chancay megaport. This trend challenges the United States' traditional dominance in the region, as China becomes a preferred trade partner for countries like Peru and Brazil.
175 km of metro train service in Bengaluru will be functional by 2026: D K Shivakumar
Deputy Chief Minister D.K. Shivakumar announced that Bengaluru will have 175 km of new metro lines operational by 2026. He also shared updates on infrastructure projects, including underpasses and a pedestrian skywalk. A 3.14 km extension of the Green Line from Nagasandra to Madavara will open for commercial operations on November 7th following a test run.
Nearly $3.5 billion in play, Macquarie unit readies billions more
Macquarie Asset Management plans to invest billions of dollars in India. The firm sees potential in energy transition, digital infrastructure, and real estate. India's projected 7% growth rate for the next decade is a key driver. Macquarie has already invested $3.5 billion in India since 2009. The firm is also considering platforms like affordable housing and logistics.
India and Spain sign MoUs on infra, rail transport, culture and tourism
India and Spain signed several MOUs in Vadodara, Gujarat. The leaders discussed the Ukraine conflict and the Indo-Pacific region. Key agreements were made in sectors like infrastructure, railways, culture, and tourism. They also decided to celebrate 2026 as 'India-Spain Year of Culture, Tourism, and AI'. Spain will open a consulate in Bengaluru.
Self-sufficient economies are the future: Vladimir Putin at BRICS Business Forum
BRICS aims to reduce external influence and enhance economic sovereignty. Vladimir Putin expects these self-sufficient nations to drive global economic growth. BRICS Development Bank will invest in major projects. Russia's new trade routes will link key regions. BRICS efforts will foster sustainable development and prosperity for their countries and citizens.
In maze of 400 indices, one index which better indicates what is likely to happen to the economy & should be watched before Nifty
On Thursday, it was auto stocks that led the market¡¯s decline. Why is this worth taking note of? Because auto stocks, especially those that make HCVs and LCVs, give an early indication of how things are panning out in the economy. The reason is simple. When goods are produced, they have to be transported. So, the more the goods, the greater the need to transport them ¨C pushing sales of HCV/LCVs. Now, look at the composition of the Nifty and Sensex. Does it give a real picture of the economy? IT and financial services dominate the weightages. IT is more representative of what is happening in the US economy. And financial services, though an important part of the economy, is still a lagging indicator rather than a leading indicator. Which then is the index one should look at to figure out what is happening on the ground? No, it is not an auto index. It is something else.
PM Modi to visit Laos for India-Asean summit, EAS
PM Narendra Modi will attend the India-Asean Summit in Laos on October 10-11. This visit marks 10 years of India's Act East Policy. The PM will stress India's support for freedom of navigation in the South China Sea and Asean centrality and unity. He will also participate in the East Asia Summit and hold bilateral meetings.
Chief economists bullish on India, cautious optimism for global recovery: WEF survey
Chief economists express cautious optimism about the global economy, highlighting India's strong performance in South Asia. The World Economic Forum's survey points to easing inflation and robust global commerce but raises concerns over elevated debt levels affecting both advanced and developing economies, potentially limiting future investments in essential sectors.
AI will spur new jobs, roles but may impact repetitive, commoditised tasks: Deloitte South Asia CEO
Deloitte South Asia CEO Romal Shetty believes AI will create more jobs than it displaces, particularly in areas involving repetitive tasks. He highlights opportunities in sectors like air traffic control for drones and electric vehicle R&D. Shetty stresses the importance of regulations that protect data privacy without stifling innovation.
India now leading in tech advancements, not playing catch-up: Nvidia South Asia MD
Vishal Dhupar, managing director of Nvidia South Asia, attributed this advancement to three factors: volume, diversity of languages, and the ability to collaborate. The size and breadth of India's culture, which spans 5,000 years, play a crucial role, he said.
Wang Yi visits Myanmar with an olive branch as rebel groups challenge China¡¯s interests
China's foreign minister Wang Yi visited Myanmar, extending an olive branch ahead of the BIMSTEC Summit in Bangkok. Wang encouraged political reconciliation and offered support amid the junta's struggle with rebel groups. He also pledged interest-free loans and emphasized China's cooperation for stability in Myanmar. Wang will attend the Lancang-Mekong Cooperation Foreign Ministers' Meeting in Thailand, focusing on regional issues and combating cross-border crimes.
Northeast has full potential to become hub of production and business of SE Asia, says Union Minister Sonowal
Union Minister Sarbananda Sonowal and other NDA MPs from Assam expressed gratitude to Prime Minister Narendra Modi for the region's development over the past decade. They highlighted key projects like new bridges over the Brahmaputra and the Guwahati Ring Road, emphasizing Modi's role in transforming the Northeast into a budding economic hub.
Sebi returns IPO papers of Vishal Mega Mart, Avanse Fin and 2 others, approves 4 issues
Capital markets regulator Sebi approved IPOs for PN Gadgil Jewellers, KRN Heat Exchanger, Ecos India Mobility, and Premier Energies. The funds raised will be used for corporate expansions and debt repayment. Sebi also returned the draft prospectus documents of Vishal Mega Mart, Avanse Financial Services, Sai Life Sciences, and BMW Ventures.
India pushes to link South Asia with South East Asia via BIMSTEC
India is spearheading efforts to enhance connectivity between South Asia and SE Asia through BIMSTEC, starting with a Foreign Ministers meeting ahead of the Summit in Bangkok. India is hosting the BIMSTEC Ministerial and NSA meetings, planning a Business summit, and establishing three centres of excellence, including one on maritime transport. China's growing presence in the Bay of Bengal region is raising security concerns for India, the primary security provider in the area.
Singapore may eye Chabahar Port to create trade & transit corridor between SE Asia & C Asia
Singapore aims to access resource-rich Eurasia through India's Chabahar port in Iran, managed by New Delhi. The port plays a vital role in establishing a trade corridor with Kazakhstan, connecting Southeast Asia and Central Asia.
India's global travel & tourism index rank up at 39th: WEF index
India climbed to the 39th position on the World Economic Forum's Travel & Tourism Development Index 2024, reflecting the resurgence of global tourism post-pandemic. The US leads the list, while India ranks highest in South Asia and among lower-middle-income economies. India boasts competitive infrastructure and resources, driving travel demand sustainability.
Chabahar pact important milestone; to provide connectivity to Afghanistan, Central Asia: PM
PM Narendra Modi highlighted India's milestone Chabahar port contract for Afghan connectivity, promoting regional trade via the International North-South Transport Corridor and India-Middle East-Europe Economic Corridor. The agreement involved IPGL's investments and debt, and the INSTC offers an alternative trade route to Russia, bypassing the Suez Canal.
India to ink 10-year Chabahar Port pact with Tehran today
This is the first time India will take over management of a port overseas. The port, which is seen as India's key connectivity link to Afghanistan, Central Asia and the larger Eurasian space, will help counterbalance Pakistan's Gwadar port as well as China's Belt and Road Initiative. There are plans to link Chabahar with the International North South Transport Corridor (INSTC) that connects India with Russia via Iran. The port will enable India to bypass Pakistan to access Afghanistan, and ultimately Central Asia.
India¡¯s counter to Pakistan¡¯s Gwadar port: New Delhi signs 10-year Chabahar Port pact with Iran
India signed a 10-year agreement with Iran on Monday to manage Chabahar Port, marking its first overseas port management venture. The move, amidst a bustling election season, is viewed as a significant geopolitical gesture towards Iran, with potential regional ramifications. This agreement underscores India's strategic interest in Chabahar, which serves as a vital link to Afghanistan, Central Asia, and the larger Eurasian region, offering an alternative to Pakistan's Gwadar port and China's Belt and Road Initiative.
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