EAST ASIA
Top hotel chains expanding in the North East
Estimates shared by JLL with ET showed a sharp rise in branded new hotel signings in the Northeast in 2023 with about 1,230 keys signed, up from around 449 keys signed in 2022.
As North Korean and Chinese threats rise, US looks to lock in defense partnerships with Asian allies
The United States concluded its inaugural multidomain exercise with Japan and South Korea in the East China Sea, marking a milestone in strengthening regional security alliances. Dubbed Freedom Edge, the exercise focused on enhancing joint capabilities in missile defense, anti-submarine warfare, and surveillance amid escalating threats from North Korea and China. Despite geopolitical tensions, the drills aimed to foster interoperability among allied forces, crucial for coordinated responses to regional challenges. The exercises underscore efforts by the Biden administration to solidify partnerships amidst growing military dynamics in the Indo-Pacific region.
IMEC will prove to be one of 'biggest game-changers' of 21st century: President Murmu
The IMEC envisages a vast road, railroad and shipping networks among Saudi Arabia, India, the United States and Europe with an aim to ensure integration among Asia, Middle East and West.
Amid run-ins with Philippines, China says US provoking arms race in South China Sea
"At present, the biggest security challenge in the South China Sea comes from outside the region," Chinese Vice Foreign Minister Sun Weidong said in comments published by his ministry, after attending a meeting on East Asian cooperation in Laos.
Spider attack in US! Should Americans worry?
Joro Spider is growing in the US and they are flying too. We have all details from their size, poison, venom and everything.
Very strong relations with India; co-producing armored vehicles: US Defence Secretary Lloyd Austin at Shangri La Dialogue
At the Shangri La Dialogue in Singapore, US Defence Secretary Lloyd Austin praised the strong US-India relationship. He talked about advancements in co-producing armoured vehicles and fighter jet engines. He emphasised the shared values between the two nations and predicted continued progress and momentum in the partnership. The strong ties are important for the two countries amid trouble in the Indo-Pacific region.
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US Defense Secretary Lloyd Austin says US 'can be secure only if Asia is'
US Defense Secretary Lloyd Austin emphasized the importance of the Indo-Pacific region for US security at a security forum in Singapore.
India’s expanding defence ties in Indo-Pacific region to increase Sino-Indian competition
The International Institute of Strategic Studies (IISS) highlighted India's expanding defence role and partnerships in the Indo-Pacific region, which could further intensify the competitive nature of India-China relations. India's focus on being a preferred security partner through defence partnerships, combined exercises, and arms transfers is increasing its regional presence and influence, countering Beijing's influence. The report noted that India's defence engagement is primarily focused on the Indian Ocean region but is expanding to Southeast Asia and the Pacific Ocean.
Oyo posts maiden annual net profit of Rs 100 crore in FY24: founder Ritesh Agarwal
Oyo reported its first profitable fiscal year in 2023-24 with a net earning of nearly Rs 100 crore. Founder Ritesh Agarwal highlighted growth prospects in key markets like Nordics, South East Asia, US, and UK. Fitch Ratings upgraded Oyo's credit rating, acknowledging its strong performance.
Tamil Nadu warns job seekers to remain cautious while accepting jobs in Southeast Asia
The Tamil Nadu government warns against deceptive job offers from Southeast Asia, urging caution among job seekers. Instances of coercion into illicit activities prompt legal action against offenders. The Non-Resident Tamils’ Welfare Department intervenes, rescuing victims and stressing the importance of thorough background checks. Vigilance is crucial to protect against exploitation and abuse in foreign employment.
US must read the riot act to Israel
Israel's decision to ignore the ICJ ruling is unfortunate. Tel Aviv must stop acting like a law unto itself. There is no doubt that Hamas violated international law on October 7 when it attacked Israel and continues to do so by holding Israeli civilians hostage. Israel's response is legitimate, but its nearly eight-month offensive violates the tenet of proportionality.
India's growing weight will ensure overall global balance remains in favour of freedom, openness: Jaishankar
External Affairs Minister S Jaishankar highlighted India's increasing influence in maintaining a global order favoring freedom and transparency. Addressing the Nikkei Asia Future of Asia Forum, he emphasised the challenges posed by supply chain issues and economic coercion, particularly in light of China's ambitions. Jaishankar also discussed the evolving geopolitical, geo-economic, and geo-technological landscape, stressing the importance of resilience and redundancy in the face of global transformations.
Apis, Madison and ROC Capital sell Star Health shares worth Rs 2,210 core
Apis Partners held a 2.61% stake via Apis Growth 6, Madison Capital via Mio Star held 2.21% and Mio IV Star held 2.39%, and ROC Capital owned 1.01%, as of March 2024. Mio IV Star, ROC Capital and Apis Partners liquidated their entire stakes in the deal.
Russia plans to open sea terminal for LPG exports to Asia by 2025-end, sources say
Russia and China are set to open the first LPG terminal on Russia's Pacific coast by the end of 2025, facilitating LPG exports to China and other Asian countries.
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 concerned over delay in implementation of pathbreaking IMEC project
Billed as a pathbreaking initiative, the IMEC envisages a vast road, railroad and shipping network among Saudi Arabia, India, the United States and Europe with an aim to ensure integration among Asia, the Middle East and the West.
'I want India to be capital of South East Asia,' says PM Modi
Prime Minister Narendra Modi envisions India as the capital of South East Asia, emphasizing that India's progress poses no threat to anyone and benefits the world. In an interview with Republic TV, he highlighted Kolkata and Guwahati's potential as major centers and stressed India's positive impact on global rankings and perceptions. Modi emphasized India's role in global initiatives, such as making Africa a G20 member, and noted India's proactive approach in fostering international relations based on proximity rather than distance.
Asia stocks drift, dollar firm as Fed rate path pondered
MSCI's broadest index of Asia-Pacific shares outside Japan slid 0.19%, weighed down partly by declines from mainland Chinese blue chips. However, Hong Kong's Hang Seng rose 0.52%.
Thailand extends visa exemption program for Indian tourists
Thailand has extended visa exemption for Indian and Taiwanese tourists until November 11, 2024, to boost tourism and economy. The country aims to attract 80 million tourists by 2027, emphasizing the sector's vital role in the economy.
Partition of India broke Northeast's natural connectivity: S Jaishankar at Kirori Mal College
External Affairs Minister S Jaishankar criticized the partition of India for disrupting the natural connectivity of northeastern states and affecting growth due to political barriers and administrative issues. He emphasized that the Northeast's growth should have been slowed down due to these factors. Jaishankar also noted that the current economic stability in the Northeast is improving, but urged Delhi to first look east and appreciate the potential of the Northeast.
Suits & Sayings: A toast to Tuscany
ET’s weekly roundup of the wackiest whispers and murmurs in corporate corridors & policy parlours.
Maritime Culture of Jambu-Dvipa: A highway linking Middle East to Southeast Asia
Few people know about the Dungi caves of Mumbai that have now made way for the New Navi Mumbai Airport coming up at Panvel. In fact, most Mumbaikars do not know that Mumbai is full of Buddhist caves (Kanheri, Mahakali), some of which became Shiva caves, like the Elephanta caves on Gharapuri island, that one sees when crossing the new Atal Setu.
The Executive Centre announces change in leadership for South Asia, Middle East
Rajat Kapur to be MD for North India, UAE and Saudi Arabia, while Manish Khedia to take charge of South India, West India and Sri Lanka
Asia stocks edge up, oil and gold retreat on tempered Mideast fears
Gold and the safe-haven dollar pulled back from near their peaks, and crude oil prices declined as the potential for a major supply disruption waned.
'India becoming a convenient hub for travel between SE Asia & Middle East': IndiGo Chairman
India is emerging as a key hub for travel between Southeast Asia and the Middle East, with airlines increasingly using Indian cities for connecting flights, according to V Sumantran, Chairman of the Board of Directors of InterGlobe Aviation Ltd (IndiGo Airlines). Speaking at the 65th Institute Day of the Indian Institute of Technology, Madras, Sumantran highlighted IndiGo's role in providing affordable travel since its inception in 2006. He noted the airline's significant growth, including a massive order of 500 aircraft, making it the third most valuable airline globally.
Iran-Israel conflict: India Inc closely watches developments to ensure safety of employees in West Asia
Sun Pharma, which operates in Israel through its subsidiary Taro Pharmaceutical, is actively monitoring the situation in the country and is taking all necessary steps to ensure safety and wellbeing of employees and their families, a company spokesperson said in an email response to ET.
US NSA Jake Sullivan postpones India trip for second time since February amid West Asian tensions
US National Security Advisor Jake Sullivan has postponed his India trip for the second time since February due to the West Asian crisis following Iran's direct strike against Israel. The US is a key player in the volatile region, and Sullivan is at the forefront of the firefighting. He is also awaiting the iCET annual review and the next meeting of the Quad leaders.
India-France discuss measures to counter state-sponsored cross-border terror including in S Asia
The 16th Meeting of India-France Joint Working Group on Counter Terrorism focused on state-sponsored cross-border terror, including in South Asia. The Indian delegation and the French delegation discussed counter terrorism challenges, including technology use, internet misuse, radicalization, and financing. They also discussed anti-India separatist activities, countering terror financing, organized crime, and narco-terror networks.
Southeast Asia 'woefully off track' on green investment, Bain says
Bain & Company's report highlights South East Asia's inadequate green investments leading to rising emissions. Urgent actions needed to tackle fossil fuel reliance, increase clean energy, and implement carbon pricing for sustainable growth.
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