Asia And Pacific Regional Economic Outlook: Steady Growth Amid Diverging Prospects – Presentation

Asia most disaster-hit region from climate change in 2023

Mumbai Becomes Asia's Billionaire Capital on Global Rich List

Mumbai Becomes Asia's , Billionaire Capital , on Global Rich List. NBC reports that Mumbai has become the Asian capital with the highest number of billionaires, dethroning Beijing at the top of the exclusive list. . NBC reports that Mumbai has become the Asian capital with the highest number of billionaires, dethroning Beijing at the top of the exclusive list. . According to the Hurun Research Institute's global rich list, India's financial capital registered 92 billionaires in 2024. . Beijing comes in just below Mumbai with 91 billionaires, and Shanghai rounds out the top three with a total of 87 billionaires. Beijing comes in just below Mumbai with 91 billionaires, and Shanghai rounds out the top three with a total of 87 billionaires. The top of the list globally is New York with 119 billionaires, followed by London with a total of 97. . The top of the list globally is New York with 119 billionaires, followed by London with a total of 97. . According to the report, there are a total of 3,279 billionaires globally in 2024, an increase of 5% compared to 2023. . NBC reports that China as a whole still has the most billionaires overall with 814 in 2024, but the country lost 155 billionaires compared to 2023. . China had a bad year. Wealth creation in China has gone through deep changes these last few years, with the wealth of billionaires from real estate and renewables down, Hurun Research Institute's global rich list report, via NBC. The United States comes in second with 800 billionaires, and India registered a distant third place with 271. The United States comes in second with 800 billionaires, and India registered a distant third place with 271. According to the report, artificial intelligence played a significant role in increasing the number of ultra wealthy people in the U.S. . Whilst [Nvidia CEO] Jensen Huang has grabbed many of the headlines as Nvidia broke through the $2 trillion mark, catapulting him into the Hurun Top 30 as a result, , Hurun Research Institute's global rich list report, via NBC. Whilst [Nvidia CEO] Jensen Huang has grabbed many of the headlines as Nvidia broke through the $2 trillion mark, catapulting him into the Hurun Top 30 as a result, , Hurun Research Institute's global rich list report, via NBC. ... the billionaires behind Microsoft, Google, Amazon, Oracle and Meta have seen significant surges in their wealth as investors bet on the value generated by AI, Hurun Research Institute's global rich list report, via NBC

All You Need To Know About the Top Five Solar Parks Of India| Oneindia News

As global sustainability efforts surge, solar energy emerges as a leading renewable option. Revered since ancient times, the sun now powers modern civilization. India, a solar powerhouse, generates 5,000 trillion kWh annually, ranking third in Asia. Solar parks like Bhadla, Pavagada, Kurnool, NP Kunta, and Rewa drive India's renewable energy transition. #India #GlobalEconomy #Bhadla #Pavagada #Kurnool #NPKunta #Rewa #SolarEnergy #SolarEnergy #SolarPandels #Indianews #Oneindia #Oneindianews ~HT.178~PR.152~ED.194~GR.124~

Climate change: From Myanmar to the Philippines, heatwave scorches parts of India

Philippines accuses China of attacking vessels with water cannons in the South China Sea | Oneindia

On Tuesday, the Philippines lodged accusations against China's coast guard, alleging harassment and damage to one of its boats within a disputed section of the South China Sea. The Philippines rejected China's assertion that it had expelled two vessels from the contested shoal. According to the Philippine coast guard, its two vessels remained steadfast at the Scarborough Shoal, a significant focal point in the South China Sea dispute. However, one of the Philippine boats incurred damage due to the deployment of water cannons by two Chinese coast guard ships. #Philippines #China #SouthChinaSea #Conflict #BRPBagacay #MaritimeDispute #WaterCannonAttack #Diplomacy #InternationalRelations #SecurityConcerns ~PR.152~ED.155~GR.121~

WATCH: Heatwave prompts Philippines to order millions to stay home from school

Millions of students in all public schools across the Philippines were ordered to stay home on Monday after authorities cancelled in-person classes for two days as an emergency step due to the scorching heat and a public transport strike.

India enhances Defence Footprint with BrahMos Missile delivery to the Philippines | Oneindia

On Friday (Apr 19), the Philippines will receive its first contracted BrahMos missile from India, marking a significant milestone in defence collaboration between the two nations. The journey of this BrahMos missile, renowned as the world's fastest supersonic cruise missile, commences from Nagpur, India, where it is loaded onto an Indian Air Force (IAF) C-17 Globemaster transport aircraft. Accompanied by three civilian freight liners transporting additional parts and support systems, the missile is poised to bolster the defence capabilities of the Philippine Marine Corps' coastal defence regiment. #IndiaPhilippinesRelations #BrahMosMissileDelivery #DefenseCooperation #IndoPhilippinePartnership #BrahMosDeal #DefenseExport #IndigenousDefenseProduction #GlobalDefenseInnovation #StrategicPartnerships #DiplomaticOutreach ~HT.97~PR.152~ED.102~

Japan, Philippines, US rebuke China over ‘dangerous’ South China Sea moves | Oneindia

The heads of state from Japan, the Philippines, and the United States have jointly expressed "grave concern" regarding China's conduct in the contested South China Sea. Over recent years, Beijing has intensified its presence in this crucial maritime region, leading to heightened tensions, notably with the Philippines. This nation, among others in Southeast Asia, asserts territorial claims over portions of the sea adjacent to its shores. In response to a recent altercation near Second Thomas Shoal that resulted in injuries to Filipino soldiers and damage to vessels, President Ferdinand Marcos of the Philippines declared Manila's intention to enact countermeasures against China. The leaders of Japan, the Philippines, and the United States expressed shared concerns over the People's Republic of China's (PRC) provocative actions in the South China Sea during the inaugural summit held in Washington, DC. This joint statement comes amid escalating tensions in the region. #SouthChinaSea #China #Japan #Philippines #US #Tensions #Diplomacy #InternationalRelations #SecurityConcerns #GeoPolitics ~HT.97~PR.152~ED.102~

Trader Joe’s Recalls Basil After Reports of Salmonella Infections

Trader Joe’s Recalls Basil , After Reports of Salmonella Infections. On April 17, the grocery chain recalled Infinite Herbs organic basil. The basil has been "linked to a dozen Salmonella infections in seven states," CNN reports. . One person has been hospitalized. The 2.5-ounce packages were sold in 29 states and Washington, D.C., from Feb. 1 through April 6. . The CDC is advising consumers to dispose of any Infinite Herbs organic basil that was bought from Trader Joe's. The agency also says to clean anything that the contaminated basil may have come in contact with. . Investigators are trying to determine if any other products have been contaminated, CNN reports. . Symptoms of Salmonella infection include diarrhea, fever and abdominal cramps, the CDC says. . Symptoms can develop anywhere between 6 hours and 6 days after consuming the bacteria. Most people don't need treatment and recover within 4 to 7 days. . If your symptoms are severe, or if you experience diarrhea and dehydration for more than three days, the CDC recommends contacting your health care provider

Homicide and Other Violent Crimes Declining in Cities Across the US

Homicide and Other Violent Crimes , Declining in Cities Across the US. 'The Guardian' reports that a recent crime analysis found that homicides in major cities across the United States are falling at , “one of the fastest rates of decline ever recorded.". There’s just a ton of places that you can point to that are showing widespread, very positive trends, Jeff Asher, AH Datalytics, via 'The Wall Street Journal'. According to AH Datalytics' sample of nearly 200 cities, murder was down by 20.8% in 2024, when compared to the same time in 2023. Some cities, including Washington DC, New Orleans, Las Vegas, and Milwaukee, saw murder rates decline by over 30%. Some cities, including Washington DC, New Orleans, Las Vegas, and Milwaukee, saw murder rates decline by over 30%. The analysis is based on the FBI's Uniform Crime Reporting program, which consists of data collected by local law enforcement agencies across the nation. While the FBI's 2023 report will not be audited or made official until October, preliminary figures suggest that murder rates significantly dropped in 2023. . The latest data suggests that this year's declines will continue at an even faster clip, nearing pre-pandemic levels. . 'The Guardian' reports that the latest data mirrors another drastic decline in homicides during the 1990s. Nationally, you’re seeing a very similar situation to what you saw in the mid-to-late 90s. But it’s potentially even larger in terms of the percentages and numbers of the drops, Jeff Asher, AH Datalytics, via 'The Wall Street Journal'. The AH Datalytics data also found that nearly all other violent crimes saw significant declines in 2023 compared to 2022. . The quarterly data in particular suggests 2023 featured one of the lowest rates of violent crime in the United States in more than 50 years, Jeff Asher, AH Datalytics, via 'The Wall Street Journal'

Israel's Defence Minister says strikes will increase againt Hezbollah

Yoav Gallant's words come as the White House resumes talks to bring Israeli officials to Washington to discuss Rafah offensive.

McDonald's Posts Disappointing Q1 Results Amid Ongoing Boycotts

McDonald's Posts , Disappointing Q1 Results , Amid Ongoing Boycotts. 'The Independent' reports that McDonald's posted weaker- than-expected results in the first quarter of 2024, as a result of a boycott over the company's perceived support for Israel. . 'The Independent' reports that McDonald's posted weaker- than-expected results in the first quarter of 2024, as a result of a boycott over the company's perceived support for Israel. . According to McDonald's, higher sales in the United States helped the fast-food giant overcome weakness in markets where the brand is being boycotted. According to McDonald's, higher sales in the United States helped the fast-food giant overcome weakness in markets where the brand is being boycotted. The company saw same-store sales rise by 1.9% worldwide between January and March, below the Wall Street forecast of 2.1%. Increased menu pricing and delivery demand saw same-store sales in the U.S. increase by 2.5%. In international markets, sales fell by 0.2% for the first time since 2020. Despite this, McDonald's said the company's revenue increased 5% to reach $6.17 billion, while net income went up 7% to $1.93 billion, in-line with Wall Street estimates. 'The Independent' reports that Muslim-majority markets like Indonesia, Malaysia and the Middle East have been boycotting McDonald's for months. The boycotts started after a McDonald's franchise in Israel announced in October that it would provide free meals for Israeli troops amid the ongoing war in Gaza. In the months since then, the company has tried to limit the fallout by taking over all 225 McDonald's in the country with the purchase of Alyonal Limited, its Israeli franchise. Our hearts remain with the communities and families impacted by the war in the Middle East. We abhor violence of any kind and firmly stand against hate speech, and we will always proudly open our doors to everyone, McDonald's statement, via 'The Indepndent'. Our hearts remain with the communities and families impacted by the war in the Middle East. We abhor violence of any kind and firmly stand against hate speech, and we will always proudly open our doors to everyone, McDonald's statement, via 'The Indepndent'

Malaysian navy helicopters collide mid-air during rehearsal, all 10 crew members dead | Oneindia

Tragedy struck on Tuesday as two helicopters collided mid-air during a rehearsal for a Royal Malaysian Navy parade, resulting in the loss of ten lives. The navy confirmed that all victims were crew members aboard the aircraft involved in the accident. The incident occurred at the Lumut naval base in the western state of Perak at 9:32 a.m. local time. "All victims were confirmed dead at the scene and sent to the Lumut army base hospital for identification," the navy said. #MalaysianNavy #HelicopterCollision #NavalParadeTragedy #LumutBase #MilitaryAccident #HelicopterCrash #NavalRehearsal #Condolences #TragicLoss #NavyPersonnel ~PR.152~ED.155~

8 Countries with Lower Cost of Living Options

8 Countries with Lower Cost of Living Options. KindaFrugal.com recently offered some tips for readers looking to relocate abroad due to the increasing cost of housing, healthcare and other essential expenses in the U.S. . Here are some of the countries they say offer a more reasonable cost of living:. Portugal, In addition to a relatively low cost of living, Portugal is a sought-after destination due to beautiful weather and minimal taxation. Ecuador, Affordable housing costs include average square foot prices for city center apartments less than half the average of in the U.S. at just $116.48. Vietnam, Affordable housing, inexpensive groceries and transportation costs make this an attractive option for expats looking for a comfortable lifestyle overseas. Montenegro, An affordable lifestyle, beautiful weather and over 183 miles of coastline gives this quiet Balkan nation a Mediterranean vibe. . Malaysia, Reasonable housing, utility and transportation costs give would-be expats a chance to save money, while still living comfortably in a tropical nation. Poland, Europe's sixth-largest economy has an average cost of living that's 58% lower than in the U.S. Thailand, Favorable exchange rates allow Western expats to enjoy a comfortable lifestyle while stretching their finances further. . Costa Rica, Affordable housing, healthcare services and amenities makes Costa Rica ideal for stretching retirement savings while still living a more luxurious lifestyle.

Jaffer Sadiq: NCB Arrests Tamil Nadu-Based Drug Kingpin with Links to Ruling DMK| Oneindia News

Jaffer Sadiq, allegedly the linchpin of a ₹2,000-crore drug ring, was arrested by the Narcotics Control Bureau in Delhi. His syndicate trafficked 3,500kg of pseudoephedrine disguised as food cargo to Australia, New Zealand, and Malaysia. Sadiq, a Chennai-based film producer and former DMK member, purportedly invested proceeds in real estate and movie production. #JafferSadiq #NCB #DMK #JafferSadiqDMK #TeluguFilms #SukeshConman #StalinJunior #Tamilnadunews #Indianews #Oneindia #Oneindianews ~PR.152~ED.101~GR.121~HT.96~

Malaysia may renew the search for MH370 a decade after the flight disappeared

IMF Warns of Broad Global Impact Due to Conflict in the Middle East

IMF Warns of Broad Global Impact, Due to Conflict in the Middle East. According to 'The Guardian,' the International Monetary Fund recently highlighted the risks of escalating conflict in the Middle East with two new reports. . The reports, titled World Economic Outlook (WEO) and the Global Financial Stability Review (GFSR), comes amid heightened fears of a war between Iran and Israel. The IMF reports that the escalating conflict comes at a time when financial markets have remained optimistic of a soft landing for the global economy. The IMF reports that the escalating conflict comes at a time when financial markets have remained optimistic of a soft landing for the global economy. That soft landing, which would include lowering inflation, receding interest rates and would avoid a potential recession, could be threatened by the outbreak of war. That soft landing, which would include lowering inflation, receding interest rates and would avoid a potential recession, could be threatened by the outbreak of war. 'The Guardian' reports that previous Middle East conflicts have resulted in significantly higher oil prices. . Pierre-Olivier Gourinchas, the IMF’s economic counsellor, said the organization was evaluating the potential for another commodity shock from the conflict. The increased inflation that would come from higher energy prices would trigger a response from central banks that would tighten interest rates in order to secure inflation coming back to target, and that would weigh down on activity, Pierre-Olivier Gourinchas, IMF economic counsellor, via 'The Guardian'. The increased inflation that would come from higher energy prices would trigger a response from central banks that would tighten interest rates in order to secure inflation coming back to target, and that would weigh down on activity, Pierre-Olivier Gourinchas, IMF economic counsellor, via 'The Guardian'. It would do so in a context in which, in some countries, activity and growth is already fairly weak, so that might also have a strong effect there, Pierre-Olivier Gourinchas, IMF economic counsellor, via 'The Guardian'. According to Gourinchas, the impact of a 15% increase in the price of oil, combined with higher shipping costs, could result in a 0.7% increase in global inflation. According to Gourinchas, the impact of a 15% increase in the price of oil, combined with higher shipping costs, could result in a 0.7% increase in global inflation. Gourinchas also warned that such an increase would also bring down business confidence and global investment.

IMF Question Pakistan Over Claims of Meeting Targets Even Before Proper Review| Oneindia News

The IMF team, led by Nathan Porter, expressed dismay at Pakistan's finance ministry for prematurely claiming fulfillment of structural benchmarks. Before completing their review, the team arrived to analyze economic data. The ministry's premature announcement left the IMF unable to provide feedback. Pakistan's finance minister assured such incidents wouldn't recur. Discussions continue for the release of the last $1.1 billion tranche, with speculation of a potential mini-budget to boost revenues. #IMF #NathanPorter #PakistanEconomicCrisis #IMFPakistan #PakistanEconomy #IMFBailout #Worldnews #Pakistannews #Economynews #Oneindia #Oneindianews ~HT.178~PR.152~GR.123~

Investing in women and girls: Is gender parity the key to economic prosperity?

Why does the world need more women in the labour market and managerial positions? Kristalina Georgieva, the International Monetary Fund's Managing Director, shares her thoughts on the Global Conversation.

Could this pink rice be the food of the future? Scientists say it’s more nutritious than normal rice

A South Korean research team has developed a new hybrid food, an affordable and eco-friendly source of protein, in a bid to develop a sustainable future option.

North Korea fires ballistic missile towards sea off east coast, Japan issues alert | Oneindia

North Korea has fired an unidentified ballistic missile into the sea off South Korea's east coast, Seoul's military said on Monday, the latest in an apparent volley of tests by Pyongyang this year. "North Korea has fired an unidentified missile into the East Sea," South Korea's Joint Chiefs of Staff said, referring to the body of water also known as the Sea of Japan. #NorthKorea #BallisticMissile #EastCoast #JapanAlert #SecurityConcern #MilitaryTension #GlobalSecurity #RegionalStability #MissileThreat #InternationalRelations ~HT.178~PR.152~ED.155~GR.121~

South Korea’s Opposition Dominates Parliamentary Elections

South Korea’s Opposition , Dominates Parliamentary Elections. South Korea's Democratic Party won "175 seats in the 300-member single-chamber parliament" on April 10, NPR reports. The ruling right-wing People Power Party became a smaller minority with only 108 seats. . The outcome is considered to be a blow to conservative President Yoon Suk Yeol. The country's prime minister and other presidential officials offered to resign after the crushing defeat. . The country's prime minister and other presidential officials offered to resign after the crushing defeat. . I apologize to the people on behalf of our party, which wasn’t good enough to win the people’s choices, Han Dong-hoon, People Power Party leader, via statement. While Yoon said that he intends to "humbly uphold" the will of the people as indicated by the election results, . it is not known if he will accept his staff's offers to resign. . Lee Jae-myung, the Democratic Party leader who is considering running for president again, . said there is a need for both parties to "pull together" to "resolve economic and public livelihood problems.". The results of the parliamentary elections are not the victory by the Democratic Party, but the great victory by our people, Lee Jae-myung, the Democratic Party leader. Now, the elections are over. Both the ruling and opposition political parties must pull together all their strength to resolve economic and public livelihood problems, Lee Jae-myung, the Democratic Party leader. According to the National Election Commission, voter turnout reached its highest level in over three decades for a parliamentary election, NPR reports.

South Korea: President Yoon’s Party Suffers Electoral Defeat, PM Offers Resignation| Oneindia News

The outcome of Wednesday's elections in South Korea dealt President Yoon Suk Yeol a severe political blow, probably delaying his domestic program and putting him in the path of an increasingly aggressive political campaign from his liberal opponents for the remainder of his three-year term in office. #SouthKorea #SouthKoreaElections #YoonSukYeol #HanDongHoon #HanDuckSoo #SouthKoreanews #Philippines #Worldnews #Oneindia #Oneindianews ~PR.282~

Opposition win in South Korea election to deepen policy stalemate for Yoon

Key Federal Reserve Inflation Gauge Rose 2.8% in March

Key Federal Reserve Inflation Gauge , Rose 2.8% in March. According to Commerce Department data released on April 26. the personal consumption expenditures (PCE) price index, not including food or energy, rose 2.8% year-over-year in March. . That exceeded Dow Jones estimates of 2.7%, CNBC reports. . When also accounting for food and energy, the all-items PCE measure rose 2.7%, which was above the 2.6% estimate. Inflation reports released this morning were not as a hot as feared, , George Mateyo, chief investment officer at Key Wealth, via CNBC. ... but investors should not get overly anchored to the idea that inflation has been completely cured and the Fed will be cutting interest rates in the near-term, George Mateyo, chief investment officer at Key Wealth, via CNBC. The prospects of rate cuts remain, but they are not assured, and the Fed will likely need weakness in the labor market before they have the confidence to cut, George Mateyo, chief investment officer at Key Wealth, via CNBC. Consumers continue to spend despite higher prices, CNBC reports. Personal spending increased 0.8% in March, while personal income rose 0.5%. The personal saving rate dropped to 3.2% as more people are having to dip into their savings to cover the cost of living. The Fed continues to target 2% inflation, which the core PCE has exceeded for the last three years, CNBC reports.

Fears of Potential Iranian Attack Drive US Stocks Down Nearly 500 Points

Fears of Potential Iranian Attack , Drive US Stocks Down , Nearly 500 Points. CNN reports that United States stocks dropped on April 12 amid rising tensions in the Middle East pushing traders to seek safe havens like gold and bonds. CNN reports that United States stocks dropped on April 12 amid rising tensions in the Middle East pushing traders to seek safe havens like gold and bonds. By mid-afternoon, the Dow had fallen 1.4%, the S&P 500 went down 1.6%, and the Nasdaq dropped 1.8%. The dip came after the White House announced that both the U.S. and Israel are on alert for a potential attack by Iran or its allies. The dip came after the White House announced that both the U.S. and Israel are on alert for a potential attack by Iran or its allies. The warning comes after Iran accused Israel of a deadly airstrike on a consulate in Damascus, Syria. . The news also sent oil prices up amid fears of regional tensions escalating as a result of the ongoing war in Gaza. . The news also sent oil prices up amid fears of regional tensions escalating as a result of the ongoing war in Gaza. . Brent crude futures jumped up to $90.42 a barrel, and West Texas Intermediate crude futures increased to $86.65 a barrel. Those geopolitical concerns and subsequent rising oil prices sent investors to safe havens like gold futures, which rose to $2,379 a troy ounce. Those geopolitical concerns and subsequent rising oil prices sent investors to safe havens like gold futures, which rose to $2,379 a troy ounce. CNN reports that Americans' opinions of the economy have dipped in the past few months amid persistently high inflation. The geopolitical fears come as investors are already contending with concerns that the Federal Reserve could wait to bring interest rates down from a 23-year high. Officials at the Fed have signaled that further rate hikes could still be on the way if the central bank's efforts to fight inflation stall.

Federal Reserve Posts Massive $114 Billion Loss in 2023

Federal Reserve Posts Massive, $114 Billion , Loss in 2023. On March 26, the Federal Reserve announced a record-breaking net negative income of $114.3 billion in 2023. Reuters reports that the loss follows $58.8 billion in net income in 2022. . Since releasing the numbers, the Fed has stressed that negative net income does not impede its ability to operate. Since releasing the numbers, the Fed has stressed that negative net income does not impede its ability to operate. As a result of low rates and large levels of bond holdings, the Fed has earned significant profits in recent years. Last year, the Fed's audited interest expenses for banks' reserve balances reached $176.8 billion, an increase of over $116 billion from 2022. In 2023, the Fed's interest payouts from its reverse repo facility were $104.33 billion, increased from $41.9 billion the year before. Reuters reports that the Fed creates funds when dealing with operating losses, capturing its loss in an accounting device known as a deferred asset. Reuters reports that the Fed creates funds when dealing with operating losses, capturing its loss in an accounting device known as a deferred asset. At the close of 2023, the deferred asset stood at $133.3 billion. As of March 20 of this year, that number had risen to $157.8 billion with no indication of how much larger it could get. Last year, a St. Louis Fed report forecast that it could take years before the Fed can return to profitability and reduce the country's deferred asset. Last year, a St. Louis Fed report forecast that it could take years before the Fed can return to profitability and reduce the country's deferred asset

Biz Pulse: Upward Trend in Equity Markets, US Federal Reserve Announcement and Gold Price| Oneindia

In this Biz Pulse episode, we delve into market updates and the US Federal Reserve's announcement. Indian ADRs witness a decline, while IT stocks garner attention. Equity markets are on an upswing, while gold prices surge. Stay tuned for insights into these trends shaping the financial landscape. #ADRStocks #ITMarket #StockMarket #Sensex #Nifty #IndianStocks #USStocks #USStockexchange #Businessnews #Worldnews #Oneindia #Oneindianews ~HT.178~PR.282~ED.101~GR.124~