Asia report

Video PlayerClose COLOMBO, Dec. 11 (Xinhua) -- Sri Lanka's ranking in the Human Development Index (HDI) has risen from 72 to 71 out of 189 countries, maintaining the country's status as the best performer in South Asia, local media reports quoting a report by the United Nations Development Program (UNDP) said here on Wednesday. The Human Development Report 2019 by the UNDP noted that Sri Lanka's HDI climbed from 0.776 in 2017 to 0.780 in 2018. The report noted that the country has defeated malaria this year and maintained an annual 0.49 percent growth in HDI from 2010 to 2018. However, the report noted that taxation policies have increased the number of people living below the 2.50-U.S. dollar-per-day poverty line in the country. Notably, the new Sri Lankan government has recently announced widespread tax reliefs, especially on indirect taxes such as value added tax, to address this issue. Sri Lanka is the highest ranked country in South Asia in terms of HDI. Sri Lanka and Maldives … [Read more...] about Sri Lanka continues to top South Asia in Human Development

EV battery market volume is estimated to reach at 40.6 million units with a CAGR of 21.1 per cent by 2026 from 8.6 million units in 2018, according to a recent report by Fortune Business Insights report. The report titled “Global Electric Vehicle Battery Market Size, Share & Industry Analysis, By Type (Lead Acid Battery, Nickel-Metal Hydride Battery, Lithium-Ion Battery, Others), By Vehicle Type (PHEV, BEV, HEV), and Regional Forecasts, 2019-2026”, stated that the demand for EV batteries is driven by the growing to reduce dependence on non-renewable energy sources. "EVs are expected to play a central role in the global commitment towards attaining sustainable development goals set by the United Nations. This skyrocketing demand and production is further underpinned by the rising concerns regarding rampant pollution and unchecked carbon emissions that are exacerbating the effects of global warming and climate change," analysts noted in the report.. The report underlined … [Read more...] about EV battery market pegged to hit 40.6 million units by 2026: Report

GURUGRAM: The son of a 67-year-old woman has filed a police complaint against a city-based private hospital, alleging negligence in a surgery performed on her for which a final bill of Rs 17 lakh was raised. The woman died 18 days after the surgery, this January. Though police have accepted the complaint, a decision on whether a case is to be registered will be taken only after the health department conducts an inquiry and gives its report. Savitri Devi, originally from Alwar in Rajasthan, was admitted to Columbia Asia on January 8. Her son claimed she had stones in her gall bladder and needed a surgery for their removal. The next morning, she was operated upon. The hospital, however, said it had conducted no such surgery. Dr Chaitanya Pathania, general manager of Columbia Asia Hospital, said Savitri Devi had undergone a surgery for removal of gall bladder stones at another hospital in August 2017, when her gall bladder was removed. At Columbia Asia, she was admitted for a procedure … [Read more...] about Woman dies after surgery in Gurugram hospital, son billed Rs 17 lakh, files police complaint

By Fox Hu UTI Asset Management, India’s oldest mutual fund, is set to go public next year after some of its shareholders came under regulatory pressure to cut stakes. Life Insurance Corp., State Bank of India and Bank of Baroda must reduce their stakes in UTI Asset by the end of 2020, the country’s market regulator said in a Dec. 6 statement. The order stems from a cross-holding limit in mutual funds to avoid potential conflicts of interest. Existing shares continue to drive the Indian IPO market, where deal value has dropped to a four-year low. Initial sales have raised $2.7 billion in India this year, with existing shares accounting for about half of the value, according to data compiled by Bloomberg. State Bank of India and private-equity firm Carlyle Group also plan to sell shares in a listing of the lender’s credit card unit, which could raise more than $1 billion. The offering of existing shares play a minor role in most other Asian markets. China has … [Read more...] about India’s oldest fund to boost IPO flow as holders exit

NEW DELHI: International ratings agency Fitch has retained India's sovereign rating, maintaining that the country will continue to post good growth despite subdued prospects for the Asia-Pacific region amid expected increase in US rates, dollar strength and lower commodity prices. "India and Vietnam have favourable macroeconomic prospects, partly reflecting lower exposure to some of the negative pressures affecting the region; however, weaknesses in their public finances have deterred us from taking positive ratings action," the report said. The agency retained India's sovereign rating at BBB-/stable – the lowest investment grade. Separately, Moody's said India's credit profile along with that of its key ASEAN peers has strengthened since the late 1990s. "Robust global growth and low interest rates facilitated credit improvements," Moody's said. However, Moody's said the external environment is now less supportive, so sovereign credit trends will hinge on whether governments … [Read more...] about Fitch retains India’s sovereign rating, says growth will continue