ASIA PACIFIC WHISTLEBLOWING LANDSCAPE REPORT
89% Indian high net worth travellers planning to spend more in next 12 months: Report
The Luxury Group by Marriott International's report highlights growing trends in luxury travel across Asia Pacific, driven by high-net-worth (HNW) travelers. Key findings include a significant increase in travel spending, especially among Indians (89%), with 74% preferring to travel within Asia Pacific. Culinary experiences are a top priority for 88% of travelers, and celebrations account for 25% of planned holidays
India's AI spending to touch $6 billion by 2027: IDC
Indian AI adoption is projected to boost AI spending to USD 6 billion by 2027, driven by IDC's insights on Generative AI and GenAI-enabled delivery, emphasizing the importance of digital transformation for Indian service providers.
Indian PE, VC investments decline 35 pc to USD 39 billion in 2023: Report
In 2023, Indian PE and VC investments declined by 35% to USD 39 billion. PE dropped by 18% to USD 29.6 billion, and VC saw a sharper decline. The report highlighted global investment trends and a surge in exit values.
Mumbai and Delhi feature among the World's Top 50 Wealthiest cities, surpassing Washington DC
Mumbai and Delhi have secured positions among the world's top 50 wealthiest cities, surpassing Washington DC in wealth concentration. This ranking, released by Henley and Partners, highlights the economic prowess of these Indian cities and their growing appeal to high-net-worth individuals (HNWIs).
Gucci’s China shock reverberates across the luxury landscape
Fears of a slowdown in luxury spending among Chinese consumers have been growing for some time, and recent events have underscored this concern. Kering SA, the parent co of Gucci, experienced a significant decline in its market value following a warning about slumping sales of Gucci products in China.
CDPQ appoints Deloitte S Asia's former CEO Venkatram as country chair
Caisse de dépôt et placement du Québec (CDPQ) has appointed N Venkatram as Country Chair for CDPQ India. Venkat has extensive experience in business and finance, including a stint as CEO of Deloitte South Asia. CDPQ has been actively investing in India's renewable energy and road sectors, with its assets doubling in six years.
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India's growing middle class poised to transform travel landscape
Globally, the middle class is already the largest spender. India is expected to become the fourth largest global spender on travel by 2030, and by then the middle class, with increased purchasing power, will make 47% of its population, say reports by Booking.com-McKinsey & Company, and People Research on India’s Consumer Economy-India’s Citizen Environment (PRICE-ICE), respectively.
What makes India's rise and China's fall inevitable? Shifting numbers
India is poised to become the world's third-largest economy by 2030, with an estimated 7% GDP growth in the fiscal year 2026-27. Currently, India is the fifth largest, behind the US, China, Germany and Japan. Realizing the full potential of India's labour market will primarily hinge on the upskilling of workers and a rise in the engagement of women in the workforce, S&P Global has said. "Success in these two areas will enable India to realize its demographic dividend."
India deal activity to remain on upward trend: Report
India is expected to see an upward trajectory in deal activity in 2024, according to a report by Bain & Company's Global Healthcare Private Equity and M&A report. The report cites a surge in healthcare spending and the resilience of pharma manufacturing and services. India overtook China in 2022 in deal volume and value size, and remained top in the Asia Pacific region in 2023. The report predicts 22 healthcare deals in 2023, with deal value reaching $4.6 billion.
Asia Pacific sectors navigate economic crosswinds amid strong growth in 2024: Fitch Ratings
Fitch Ratings predicts robust economic growth in APAC's emerging markets like India, Indonesia, the Philippines, and Vietnam in 2024. However, challenges, including slower Chinese growth and global demand, might affect various sectors. While sectors in China face headwinds, particularly property developers and banks, a sharper slowdown there could impact the region adversely. Evolving economic dynamics, government policies, and global market conditions will sway sector-specific outlooks, especially affecting banking sectors in developed markets due to the peaking interest rate cycle. Geopolitical tensions could prompt supply chain diversification, notably influencing industrial and technology sectors.
94 per cent Indian CFOs optimistic about nation's economic future: Survey
The report titled 'The next set of imperatives for CFOs in the Asia-Pacific region', demonstrates the business imperatives facing organisations of 276 leading CFOs in the region. It highlights CFOs' responses to the near-term business landscape marked by economic fluctuations, slowing growth, surging inflation, and elevated interest rates.
80% of CIOs in Asia-Pacific will harness AI by 2028: Report
As AI evolves from handling specific tasks to broader applications, the need for data-centric infrastructures, skill transformations, and trust is further emphasised, the report mentioned.
India among top countries with high income, wealth inequality: new UNDP report
A recent UNDP report reveals that India, despite rapid economic growth, grapples with high income and wealth inequality. While the country reduced multidimensional poverty from 25% to 15% between 2015-16 and 2019-21, disparities persist, particularly among vulnerable groups like women and informal workers. The report emphasizes the urgent need for investments in human development, job creation, and environmental sustainability to address these challenges.
What the Asia-Pacific needs to leap forward on climate action
The Asia-Pacific region needs to take more ambitious action on climate change to break the pattern of slow progress. Despite some positive steps, greenhouse gas emissions in the region continue to rise, and outcomes for climate action have even regressed in recent years. Financing for climate efforts is insufficient, particularly in emerging and developing economies.
Projects worth ₹1,700 cr invested for development of Inland Waterways of Northeast: Sarbananda Sonowal
The Union Minister of Ports, Shipping & Waterways, Sarbananda Sonowal, inaugurated the roadshow for the Global Maritime India Summit, 2023 (GMIS) in Guwahati. Sonowal highlighted the significant investment made by the government in the inland waterways sector under the leadership of Prime Minister Narendra Modi.
Delhi NCR has 3rd largest flexi office stock among APAC cities
As of March 2023, Bangalore recorded 12.9 million sq ft flexible stock, highest among all major APAC cities. New flex space supply in Delhi NCR and Bangalore accelerated from 2022, with the two cities witnessing the addition of a combined 3.1 million sq ft of stock in Q1 2023. With leasing by flex space operators remaining robust in Q1 2023, the pace of new flex centre openings over the remainder of the year in these two markets is expected to be brisk.
Stock traders hunt for winners in Asia as Fed’s policy turns
Asian stock pickers are navigating a difficult environment as a slowdown in the US could trigger a recession. Value is being sought in the tech service and consumer discretionary sectors due to regional demand, while South Korea and Taiwan are viewed as more vulnerable to a US downturn. Indian stocks have been bought by global funds this quarter as they cut their exposure to Taiwan. Financials, along with South Korean and Taiwanese equities, are seen as most susceptible to declining following two years of outperformance before a tightening cycle.
Asia-Pacific to grow 4.6 pc in 2023; India, China to contribute half of global growth: IMF
The IMF report said that India and China, the two largest emerging market economies of the Asia-Pacific are expected to contribute around half of global growth this year, with the rest of Asia and Pacific contributing an additional fifth.
World Bank says recoveries in Asian economies losing steam
Although Asian economies are expected to see growth of 5.1% this year, up from 3.5% last year, recoveries in economies excluding China will stagnate due to growing household debt and inflation pressures slow down consumer spending, dampening demand. The World Bank report also forecasts that China's economy has slowed down after the disruptions caused by the COVID-19 pandemic while other developing economies will see the worst of the pandemic recoveries in 2022, slipping back again in 2023.
Ransomware, malware attacks rise in 2022: report
India experienced about 700,000 malware attacks in 2022, up from 650,000 in 2021, according to the Trend Micro annual security study.
Companies across APAC stepping up efforts to keep whistleblower policies up to date
"This is partly because it is being talked about mainly by the regulators like Sebi... I think there is a good understanding of the environmental part... It's the S and the G that are less understood," she said.
Bangalore has the highest flexible workspace stock in Asia-Pacific region : Study
“India is leading the flexible A- grade office stock in the APAC region. Occupiers are largely re-engineering their portfolio and workplace strategies to accommodate hybrid working arrangements,” said Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE.
IPEF to encourage Pakistan to "decouple" from Chinese market: Report
Advocate Muhammad Hamza Qamar, writing in Daily Parliament Times, said that Washington believes it will help exclude China from the regional trading and supply systems. Asia Pacific region remains the world's growth engine despite the weathering effects of Covid-19 and stringent waves of global climatic fluctuations.
Twitter’s terrible week
The most explosive allegation, however, was the Indian government forced Twitter to put a government agent on the payroll, and that this agent would have had access to sensitive user data because of Twitter's weak security infrastructure.
James Murdoch, Uday Shankar’s Bodhi Tree to invest Rs 13,500 crore in Viacom18
Bodhi Tree Systems will lead a fund raise with a consortium of investors, which will help Viacom18 to bid aggressively for the upcoming media rights of the Indian Premier League (IPL), insiders said.
Terrorists returning from conflicts threat to J&K: APG
Foreign terrorist fighters (FTF) returning or relocating from conflict zones pose a serious threat for Jammu & Kashmir on the India-Pakistan border, said the latest report by Asia Pacific Group (APG) on financing and facilitation of FTF and returnees in Southeast Asia.
CXOs worried about supply chain, business resilience as top cyber security risks: PwC report
Many Indian companies have seen a spurt in cyber attacks in the last one year. Also, companies are working on data protection as many employees are working from home.
The Quad’s economic imperative: Participating nations should cooperate and benefit beyond the security framework
While the security framework of the group is well-understood, there is also an enormous opportunity here for Quad nations to dramatically alter the global economic landscape. This could go a long way in benefitting all the participating nations, at a time when job creation is paramount for their economies.
100-strong unicorn club drives change in India's corporate landscape: Report
India's fast-growing community of unicorns -- privately-owned companies -- valued over US$1 billion, are now driving radical change in the country's corporate landscape moving at an unprecedented pace creating in excess of $ 240 billion in value, Credit Suisse said on Tuesday.
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