Which asia country is the richest

Share to Twitter Share to Linkedin Adani Enterprises —controlled by Gautam Adani and his family—is pushing ahead with plans to build India’s largest copper refinery as the world’s second most populous nation seeks to reduce its reliance on metal imports. The conglomerate—which also has interests in airports, edible oils, ports, renewable energy and toll roads—said in a regulatory filing on Sunday that its unit Kutch Copper has raised 60.7 billion rupees ($775 million) in loans from a syndicate of banks led by the State Bank of India. Proceeds will be used to accelerate the construction of a greenfield copper refining plant in Gujarat, Adani’s home state in western India. “Kutch Copper aims to create the capacity for production of refined copper, which plays a vital role in strengthening the nation’s shift towards electric vehicles and renewables,” Vinay Prakash, director of Adani Enterprises said in a statement. “The project has requisite technology … [Read more...] about Asia’s Richest Man, Gautam Adani, Raises $775 Million To Build India’s Largest Copper Refinery

SINGAPORE, June 26 (The Straits Times/ANN): While reducing carbon emissions will help manage the extreme weather conditions that have led to food price spikes in South-East Asia, this transition to a lower carbon future could come with its own costs, one think-tank said. Global forecasting firm Oxford Economics estimated that the costs of producing food could go up by as much as 80 per cent in countries such as Indonesia by 2050, as governments implement measures aimed at achieving net zero. This is if regional authorities do not also introduce initiatives to mitigate the impact to the food supply chain, said Oxford Economics Asian macro consulting head Tom Rogers, during a webinar on Thursday (June 23). The webinar, hosted by Oxford Economics, discussed findings from a study into the impact of climate change on food prices. The study, commissioned by industry body Food Industry Asia and conducted by Oxford Economics, found that heatwaves in Thailand in December 2014 and in … [Read more...] about South-East Asia’s food production costs could go up by 80% in sustainability drive, says Study

Share to Twitter Share to Linkedin As seven of the world’s wealthiest nations meet, it has been revealed that billions of dollars in aid for the poorest countries are being rerouted into climate finance, with G7 nations appearing to indulge in what amounts to a form of creative accounting with regard to their international commitments. A new report from the charity CARE shows that, rather than providing additional money to help developing nations respond to climate change as promised under international agreements, wealthy states like the U.S., Canada and France are consistently overreporting the amount of money they’re providing, while diverting money meant for other development programs. In total, CARE found that an estimated $103 billion of climate finance reported by G7 nations has simply been siphoned straight out of development aid budgets, including funds intended for health, education, gender equality and poverty alleviation. Between 2011 and … [Read more...] about As G7 Meets, The World’s Richest Nations Water Down Aid And Climate Finance

Share to Twitter Share to Linkedin Eyewear mogul Leonardo del Vecchio—whose firm owns Ray-Ban, Sunglass Hut and more—died at age 87, with a fortune worth an estimated $25.5 billion and six children from three different relationships. The death of Italy’s second-richest man, Leonardo Del Vecchio , means that his estimated $25.5 billion fortune will now be divided among his heirs. The 87-year-old eyewear mogul leaves behind his second wife, Nicoletta Zampillo, and six children from three different relationships, ranging in age from 18 to 65. All seven are now likely to become billionaires, inheriting Del Vecchio’s Luxembourg-based holding company Delfin and its billions of dollars in assets. One of Italy’s most famous entrepreneurs with a rags-to-riches tale of success, the factory apprentice-turned-eyewear mogul lived in Monaco and held his vast fortune—including ownership of Sunglass Hut, Ray-Ban and Oakley—through Luxembourg-based Delfin. After a … [Read more...] about Here’s How Many Billions The Heirs Of Italy’s Second Richest Man–Who Died Monday–Stand To Inherit

- A + A (June 28): After years of building their foreign-exchange reserves, central banks in Asia are tapping into their stockpiles to bolster their weakening currencies against a rising US dollar. Thai reserves slid to US$221.4 billion as of June 17, in data released late last week. That was the lowest in more than two years. Monthly figures show that Indonesia’s stash is at the smallest since November 2020. Reserves in South Korea and India are at their lowest in more than a year. Malaysia’s stockpile, meanwhile, has fallen the most since 2015. “Some countries would have used their reserves to stabilize their currencies when moves were excessive,” said Rajeev De Mello, a global macro portfolio manager at GAMA Asset Management in Geneva. “They know that they can’t reverse their currencies’ weakness against the USD, but they can smooth the declines.” Learning from the 1997 Asian financial crisis, central banks have been accumulating dollars to help defend their … [Read more...] about Central banks in Asia spend billions to slow currency declines

Share to Twitter Share to Linkedin When it comes to life expectancy, Okinawa prefecture and its semi-tropical islands off Japan’s south coast have long been referenced as the benchmark location for living a long life. According to the WHO , the global trend for how long we live increased by more than six years over the first 20 years of the 21st century, with the average global life expectancy increasing from 66.8 years in 2000 to 73.4 years in 2019. But in Okinawa that trend is in reverse. In 1980, it had the highest average life expectancy for both men and women, with men expected to live until at least 84 years and women averaging an amazing 90 years old. Yet in the 2020 census, it was discovered Okinawan men were living to an average age of 80.27 years and women 87.44 years. Gerontologists have long attributed those long lives to a combination of nutritious diet, regular exercise, a continued sense of purpose (known as the concept of ikigai in … [Read more...] about Live Long And Prosper: Five Countries Where People Live The Longest

U.S. President Joe Biden attends the G7 leaders’ summit at the Bavarian resort of Schloss Elmau castle, near Garmisch-Partenkirchen, Germany, June 27, 2022. REUTERS/Lukas Barth/Pool WASHINGTON — U.S. President Joe Biden on Monday signed a national security memorandum to fight illegal fishing, part of pledged efforts to help countries combat alleged violations by fishing fleets, including those of China. The White House said in a statement that it would also launch an alliance with Canada and the United Kingdom to “take urgent action” to improve monitoring, control, and surveillance in the fight against illegal, unreported and unregulated (IUU) fishing. U.S. officials have vowed to introduce policies to better battle illegal fishing, particularly in the Indo-Pacific, as part of stepped up engagement with the region to counter China’s growing influence. Some countries in the region chafe at China’s vast fishing fleet, arguing its vessels often violate their 200-nautical-mile … [Read more...] about Biden swipes at China with memo to combat illegal fishing

Kim Jong-jin The author is assistant director-general and regional representative of the Food and Agriculture Organization (FAO) of the United Nations. It wasn’t so long ago that internet connectivity faded the moment one left a populated area like a city or big town. “No service” was the take-away message back then. But thanks to 3G, 4G and now 5G mobile technology — and coupled with the widespread installation of cellular towers in rural areas across the country — the frustrating message shows up much less frequently. Most importantly, the rapid spread of internet connectivity and mobile telephony has resulted in countless opportunities to help address chronic problems such as poverty, malnutrition and inequality after the service reached into the most remote rural communities. From farmers to fishers to herders, digital technologies are increasingly relied upon to help transform and enhance livelihoods for hundreds of millions of people each day. From farmers with their … [Read more...] about Leaving no one behind in digitization

This article first appeared in The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. - A + A THE momentum to adopt environmental, social and governance (ESG) criteria and sustainability practices in the capital market has picked up significantly in the past few years. By the third quarter of 2021, assets in global sustainable funds hit a record high, according to investment research firm Morningstar. At the same time, more than 70 countries — including the biggest polluters — have set a net-zero target and over 1,200 companies have put in place science-based targets to reach net-zero emissions, according to the United Nations. In Malaysia, at least 44 out of the 54 Sustainable and Responsible Investment (SRI) funds approved by Securities Commission Malaysia were launched in the last two years. As at December 2021, 94% of the top 50 listed companies in Malaysia had ESG strategies and 68% had emissions reduction policies, according to PwC’s research. … [Read more...] about HONOURING MALAYSIA’S BEST PERFORMERS IN ESG EXCELLENCE: The Edge to roll out Malaysia’s first ESG awards

Representative Image Santoor, the sandalwood soap of Wipro Consumer Care and Lighting (WCCL), has become a Rs 2,300 crore plus brand in FY22, its CEO Vineet Agrawal said. The company, which operates in FMCG and lighting products segment, has reported a revenue of Rs 8,634 crore for the financial year ended on March 31, 2022. Though the company is concerned about the inflationary pressure but expects business to improve in FY23 as palm oil prices are softening and the price of crude oil going down. Moreover, demand would be helped by a good monsoon and generation of more employment, he said. While talking about domestic business, Agrawal said: "In India, Santoor continues to do well. It was over Rs 2,300 crore last year and we continue to be the number two brand in terms of soap," Wipro Consumer Care and Lighting CEO Vineet Agrawal told PTI. While talking about domestic business, Agrawal said: "In India, Santoor continues to do well. It is now the leading brand in five … [Read more...] about Santoor becomes Rs 2,300 crore brand, Wipro Consumer FY23 turnover at Rs 8,634 crore