Rolls-Royce extends contract with TVS SCS for five years
India Business News: TVS Supply Chain Solutions (TVS SCS) announced that its contract with Rolls-Royce has been extended for five years until 2029. The partnership extension is for the parts distribution centre (PDC) in Singapore serving the Asia Pacific markets for Rolls-Royce’s power systems business unit. Key Points
Times Of IndiaIndia's share-sale frenzy is seen continuing in 2024: Bankers
India offers “a much more constructive story for capital markets than the rest of Asia. It is as wide open as we have seen it for a while,” said Udhay Furtado, co-head of ECM, Asia Pacific at Citigroup Inc. “Bigger names could be potential candidates for 2024 listings.” Key Points
Economic TimesDeveloping Asia to end 2023 on brighter note as China's economy recovers - ADB
The ADB raised its 2023 growth forecast for developing Asia to 4.9% from 4.7% projected in September, but kept its growth outlook for the region at 4.8% next year. Key Points
Business TodayCiti makes new appointments in Asia Pacific as part of restructuring
Citigroup (C.N) has made new appointments in Asia Pacific following a sweeping global reorganization the U.S. bank announced on Monday, according to a person with direct knowledge of the matter. Key Points
ReutersAsia Cup 2023: From Atif Aslam to AR Rahman; here's the list of performers for opening ceremony
Asia Cup 2023 starts today with Pakistan vs Nepal match. India vs Pakistan faceoff on 2 September. Pakistan to host 4 matches, Sri Lanka to host rest. Key Points
mint
Asian banks are luring investors who think they’re a safer bet
A Citibank analysis of global financial conditions shows Asian financial markets have tightened less than in the US and most Asian currencies have gained ground against the US dollar. An index of financial stocks in the region, excluding Japan, has risen since March 10 — the day Silicon Valley Bank collapsed — compared with an almost 10% drop in the American banking index over the same period. Key Points
Economic TimesIndia, China to contribute half of global growth in 2023: Report
Asian economies are accelerating the pace of overall economic recovery in 2023 this year, says Boao Forum for Asia in a report. Asia's weighted real Gross Domestic Product (GDP) growth rate in 2023 is estimated to be 4.5 per cent, an increase from 4.2 per cent in 2022. Key Points
Economic TimesRussian sanctions shift oil price-making power to Asia from Europe
Analysts and government officials from consumer countries use the term Asian premium to refer to the higher prices Asian importers have paid for oil sold by big exporters, such as members of the Organization of the Petroleum Exporting Countries. For Asia, a weakened premium amounts to an economic stimulus, highlighting another unintended consequence of the Western sanctions on oil and gas exporter Moscow, which also led to a surge in the amount Europeans have paid for natural gas. Key Points
Economic TimesTilak, Umran, Shardul: Dinesh Karthik poses multiple tough questions for Rohit
Dinesh Karthik has fired some tough questions for Rohit Sharma and Co. after India's squad announcement for the Asia Cup. | Cricket Key Points
Hindustan TimesWhy the China-brokered Iran-Saudi Reconciliation Effort is not bad news for I2U2
The involvement of China as the broker was rather unanticipated but not entirely unexpected. China has over the years increased its engagement with the Gulf and West Asia. Key Points
Financialexpress
How India have fared against Pakistan in ODIs at Asia Cup
India last lifted the famous trophy back in 2018. The Men In Blue will meet Pakistan in their Asia Cup 2023 opener on Saturday. | Cricket Key Points
Hindustan TimesIreland wants to further deepen its strong economic, cultural ties with India
The Irish government is eager to strengthen its economic and cultural ties with India as part of its renewed Asia Pacific strategy, according to Deputy Prime Minister Micheal Martin. Ireland's Asia Pacific Strategy, which aimed for €100 billion in trade with the region by 2025, has already surpassed this target two years ahead of schedule. Key Points
Economic TimesWorld Bank notes jobless development in South Asia, calls for more reforms to increase employment ratios
The share of the employed working-age population has been declining since 2000 and is low, it said. In 2023, the employment ratio for South Asia was 59%, compared to 70% in other emerging market and developing economy regions. Key Points
Business TodayAkzoNobel rejigs leadership for decorative paints in South Asia
Kolkata, Dec 21 (PTI) Paints giant AkzoNobel announced a revised organisational structure and key leadership appointments for its decorative paints business in South Asia, effective January 2024. India will now serve as the regional headquarters for the newly formed South Asia region of the company. “Rajiv Rajgopal assumes additional responsibility as the new Business Unit […] Key Points
ThePrintBabar Azam matches Chris Gayle magnificent T20 feat with incredible ton in LPL
Babar Azam scored 104 off 59 balls to help his side close the stiff 189-run chase in 19.5 overs. | Cricket Key Points
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Deutsche Bank boosts Asia bets as clients seek Wall Street alternative -CEO
Deutsche Bank (DBKGn.DE) is investing more in Asia Pacific markets to woo clients seeking European lenders amid Sino-U.S. tensions and to profit from the region's higher economic growth compared to other major markets, its chief said. Key Points
ReutersRed Sea: Oil market makes plan to navigate weeks-long troubled waters amidst Houthi threats
The oil market is bracing for long-term disruptions in the southern Red Sea due to attacks by Houthi militants. Charters of tankers reveal that more vessels are being hired for routes that avoid the danger zone. Airstrikes in Yemen by the US and UK have increased chaos in the area. Tankers are now being hired to sail to Asia instead of Europe, leading to a surge in earnings. Additionally, there has been a significant volume of Iraqi crude cargoes booked to sail from the Persian Gulf to Europe around Africa. Key Points
Economic TimesUS narrows gap with China on diplomatic posts, report says
International Business News: The US has narrowed the gap with China in the number of diplomatic posts they both run, according to a new report. China has the most such offices of any country, with 274, while the US has 271. China has a bigger presence in Africa, East Asia, Pacific Island countries, and Central Asia, while the US leads in Europe, the Americas, and South Asia. Key Points
Times Of IndiaExpress View: A north-south Asia corridor is a step in the right direction
Delhi's balancing act between Russia and China, and Russia and the West will continue to be tested as it engages in projects with diverse partners. But the ‘Look West’ move is an important milestone. Key Points
The Indian ExpressQS Asia University Rankings 2024: IIT Bombay & IIT Delhi among top 50, list here
QS Asia University Rankings 2024 released. IIT Bombay and IIT Delhi among top 50 list. Check list here. | Education News Key Points
Hindustan Times
Blubirch raises $6 million in funding from Cornerstone Ventures, Capital2B
India Business News: Bengaluru-based startup Blubirch has raised $6.37m in a Series A funding round led by Cornerstone Ventures and Capital2B. The company's software-as-a- Key Points
Times Of IndiaBCCI quashes PCB's hybrid model for Asia Cup; discussion likely during IPL final
A section of the Pakistan media has reported that the BCCI has agreed to a hybrid model of staging matches. BCCI officials have refuted these reports. | Cricket Key Points
Hindustan TimesFive specific sins; seven treasures of a king: Words by the numbers in Asia
In this instalment of his monthly column, author Adam Jacot de Boinod hunts down quirky figures of speech from across a continent. Look out for Capital Letters every month. Key Points
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