Asia

June 7, 2024 12:18 PM

India third-largest gold buyer in May, after Switzerland and China: WGC

The global gold market experienced a turnaround in May, ending a 12-month slump for gold exchange-traded funds (ETFs) with a resurgence in inflows. This positive momentum was driven by strong demand in Europe and Asia, despite minor outflows in North America. By the end of May, global gold ETF holdings had risen to 3,088 tonnes, with total assets under management (AUM) reaching $234 billion, a 2% increase for the month. Physically backed gold ETFs enjoyed a net inflow of $529 million, marking t...

May 14, 2024 3:54 PM

Asia to contribute 60% of global growth in 2024: IMF official

Asia continues to power ahead as the engine of the global economy, with the region expected to contribute a massive 60% to world growth in 2024, a senior International Monetary Fund (IMF) official stated on Monday. Speaking at the 13th IMF-Japan High-Level Tax Conference for Asian Countries in Tokyo, IMF Deputy Managing Director Okamura highlighted Asia's lead role in driving global economic recovery post-pandemic citing the IMF's latest World Economic Outlook projections. The global economy h...

April 23, 2024 4:52 PM

Asia most affected by climate disasters in 2023, heatwaves fatalities rising in India: UN report

Asia was world's most disaster-hit region by weather, climate and water hazards in 2023, the World Meteorological Organization (WMO) said, with floods and storms causing the highest number of casualties. In a report published on Tuesday, WMO said that 79 disasters linked to hydro-meteorological events had been reported in Asia in 2023. More than 80% of these were related to floods and storms that caused more than 2,000 deaths. Asia is warming faster than the global average, according to WMO. L...

April 23, 2024 11:56 AM

Asia is most climate disaster-impacted region, UN meteorological agency says

Asia was the world's most disaster-hit region by climate related hazards last year, the World Meteorological Organization (WMO) said, with floods and storms causing the highest number of casualties. In a report published on Tuesday, WMO said that 79 disasters linked to hydro-meteorological events had been reported in Asia in 2023. More than 80% of these were related to floods and storms that caused more than 2,000 deaths. "Many countries in the region experienced their hottest year on record i...