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The Latest Breaking News from ADB

Donors dig deep to prop up Pacific economies left reeling by the 'dire consequences of COVID'

New figures shows that foreign aid to the Pacific surged to record highs as the COVID-19 pandemic wreaked havoc on regional economies, while Chinese development assistance fell to a new low.

ABC News

Bank to provide $2.5 billion to flood-ravaged Pakistan

Pakistan's Finance Ministry says the Asian Development Bank will provide $2.5 billion in aid to the impoverished flood-affected country, where climate-induced deluges of rain have killed nearly 1,700 people since-mid- June

The Independent UK

ADB plans $14 billion program to ease food crisis in region

The Asian Development Bank plans to provide at least $14 billion over 2022-2025 in a comprehensive program of support to ease a food crisis in Asia and the Pacific, its president said on Tuesday.

Reuters

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ADB to devote $14B to help ease food crisis in Asia-Pacific

The Asian Development Bank says it is devoting at least $14 billion through 2025 to help ease a worsening food crisis in the Asia-Pacific

The Independent UK

Asian Development Bank pares 2022-23 GDP growth forecast for India to 7% from 7.5%

India’s inflation, ADB said, has turned out to be more persistent than expected, and led to a sharp tightening in monetary policy, while eroding consumers’ purchasing power

The Hindu

Asian lender ADB cuts forecasts to reflect weakening outlook

The Asian Development Bank has downgraded its forecasts for growth in the region, citing the war in Ukraine, rising interest rates to combat decades-high inflation, and China's slowing economy

The Independent UK

Pandemic sets back Asia-Pacific's poverty fight by 2 years - ADB

The pandemic has set back the fight against poverty in the Asia-Pacific region by at least two years, and many nations will find it harder to escape poverty, the Asian Development Bank (ADB) said on Wednesday.

Reuters

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Green recovery

As the world emerges from Covid-19 and faces stagflation and war, climate crisis remains one of the greatest threats to humanity. A green recovery has become a priority for policymakers in Southeast Asia and around the world, who aim to create a more sustainable path that focuses on the environment,…

Bangkok Post

Bangladesh seeking $2 Billion from World Bank, ADB - Bloomberg News

Bangladesh is seeking $2 billion from the World Bank and the Asian Development Bank (ADB) amid efforts to bolster its foreign exchange reserves, Bloomberg News reported on Wednesday.

Reuters

ADB cuts India GDP forecast for FY23 to 7.2% on Covid, war impact amid inflationary pressure

NEW DELHI: Asian Development Bank (ADB) on Thursday trimmed India's economic growth forecast for current fiscal year to 7.2 per cent from 7.5 per cent as pandemic and war impact is weighing down alongside inflationary pressures.

The Times of India

Trading ecology for tourism: Why Biren Singh’s dream project might be a nightmare

The Manipur government’s proposed mega ecotourism project at the Loktak lake – a site of global significance under the Ramsar convention and home to the critically endangered sangai deer – has again waded in troubled waters. Tenders to appoint consultants for the Rs 1,700 crore project in Bishnupur district were…

Newslaundry

Asia’s economic growth outlook slashed on China, Ukraine fears

Asian Development Bank forecasts region’s developing economies to grow 4.6 percent in 2022 amid worsening conditions.

Al Jazeera

Risks of effectively aiding people

At the end of December 2019, as I was moving from New Delhi to what I thought would be a leisurely retirement in Manila, I was complacent. The events that have buffeted the world since then, if I even thought of them, would have seemed to be total fantasy.

Bangkok Post

India’s GDP to take a big hit due to pandemic-linked learning losses for students: ADB study

The decline would be the highest among those of South Asian countries, say analysts

The Hindu

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Bangkok Post

Waiting for China

Since China began to open up and reform its economy in 1978, growth has averaged almost 10% a year, and more than 800 million people have been lifted out of poverty. There have also been significant improvements in access to health, education and other services, with the mainland now an…

Bangkok Post

Asean must seize new opportunities

As Asean economies continue their path to safely reopening and getting back to business, they must also manage growing economic challenges and identify how best to seize new opportunities for a resilient, inclusive, and sustainable recovery.

Bangkok Post

Don't leave small businesses behind

The time has finally come again for the tourism industry. As many countries start learning to live with Covid-19, travel restrictions are being eased and people are hitting the road after staying put for more than two years.

The Hindu

Asian Development Bank to provide $2 million loan to support urban development in Nagaland

Nagaland’s towns and cities face the long-term challenges of climate change, lack of basic amenities and poor connectivity

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Bangkok Post

Challenges for Asean

Over two years after the coronavirus emerged, countries across Asia are slowly beginning to recover. In Southeast Asia, economic growth is projected to pick up to 5.1% this year, from 3.2% in 2021. With 400 million people, or 59% of the population, fully vaccinated, many economies are well on the…

Bangkok Post

Russia-Ukraine war to slow 2022 growth in developing Asia

MANILA: Growth in developing Asia will likely be slower this year than previously thought, the Asian Development Bank (ADB) said on Wednesday, as the war in Ukraine is expected to derail economic recovery in the region still reeling from the Covid-19 pandemic.

Al Jazeera

Asia set for strong growth despite Ukraine risks: ADB

Manila-based bank forecasts region’s developing economies to grow 5.2 percent in 2022 and 5.3 percent in 2023.

StockNews.com

Adobe: Should You Buy the Post Earnings Dip?

Shares of diversified software company Adobe (ADBE) declined in price even after the company reported record revenues in its last quarter. This was due to its disappointing fiscal 2022 revenue guidance because of the impact it expects from its termination of sales of its products in Russia and Belarus. But…

Al Jazeera

Crowdfunding a capital: Indonesia’s unusual pitch raises eyebrows

Unorthodox proposal comes after Japan’s SoftBank opts not to invest in project estimated to cost $32bn.

Bangkok Post

Pandemic sends 4.7m more people into ‘extreme poverty’ in SE Asia

MANILA: The pandemic added 4.7 million more people to Southeast Asia's most extreme poor in 2021, reversing gains made in fighting poverty, the Asian Development Bank (ADB) said on Wednesday, while urging governments to take steps to boost economic growth.

Bangkok Post

ADB: Covid erases 9 million jobs in Southeast Asia

The Covid-19 pandemic obliterated 9.3 million jobs in Southeast Asia as lockdowns hit the region’s traditional engines of growth such as hospitality and tourism, according to the Asian Development Bank (ADB).

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