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The Latest Breaking News from ADB

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

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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

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

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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.

Bangkok Post

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

The Hindu

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.

Bangkok Post

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.

Al Jazeera

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…

StockNews.com

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.

Al Jazeera

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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).

Reuters

Pandemic sends 4.7 million more people into extreme poverty in SE Asia - ADB

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.

The Independent UK

Grenfell inquiry: Fire safety guidance should ‘perhaps’ have been updated sooner

Bob Ledsome, who works for the Department for Levelling Up, Housing and Communities, gave evidence at the Grenfell Inquiry.

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Al Jazeera

Asia Pacific trade booms despite COVID curbs: ADB

Asian Development Bank President Masatsugu Asakawa says harsh pandemic restrictions are now ‘more difficult to justify’.

Al Jazeera

In Southeast Asia, decades-long deals stymie shift away from coal

Power purchase agreements that ensure “coal lock-in” are complicating the region’s transition away from fossil fuels.

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