Why are people rushing to buy gold across Asia? Join us as we dive into the latest global economic trends impacting the yellow metal. Discover why gold has become the go-to asset for investors and central banks, from currency devaluation fears to inflation spikes and geopolitical tensions.

Gold frenzy sweeps across Asia amid economic stability

Why are people rushing to buy gold across Asia? Join us on gravitas as we dive into the latest global economic trends impacting the yellow metal. Discover why gold has become the go-to asset for investors and central banks, from currency devaluation fears to inflation spikes and geopolitical tensions.

Gravitas | Gold rush: Asia's economic uncertainties fuel record high demand

There appears to be more legs to the bull run in Pakistani stocks, which could be an indication of better economic conditions. This bolsters the outlook for Asia's best-performing market this year, beating Indian stocks at all-time highs.

Gravitas | Pakistan's stock rally leads in Asia

This week, Tehran will host a Ministerial meeting for Ministers of Foreign Affairs of the Asia Cooperation Dialogue (ACD) member states. Foreign Ministers and senior officials from 35 countries, along with heads of regional and multilateral Asian organisations, will take part in this gathering.

This significant multilateral event takes place while the Islamic Republic of Iran mourns the loss and martyrdom of two pioneers of multilateralism, late President Raisi and late Foreign Minister Dr Amir-Abdollahian who supported the upcoming meeting in Tehran with their wisdom.&nbsp;

The incumbent Iranian government has shown a serious and remarkable commitment, led by the martyred President and Foreign Minister, to compensate the monopolised interaction and reliance on the West by focusing on the East, fostering the Asian identity and ultimately ensuring that good-neighbourliness policies serve collective development and security.

Undoubtedly, promoting regional integrity through active membership to regional and global organisations would save the international community from the harms of the dominance systems and direct it towards multilateralism as a means of realizing justice in the international arena.

The current Iranian administration's particular focus on the Shanghai Cooperation Organization (SCO) and BRICS, which started following Iran's official membership to these two international mechanisms which are based on multilateral thinking and were continued with its active participation would be studied from the same perspective.

In pursuing multilateralism, we need to take identity and aspirations into account as well, and the ACD addresses this essential need. Emerging powers' membership to this forum will further energise it in order to form its identity and enhance optimism to its promising future.

Asia and the world are still deeply saddened and shocked by the ongoing atrocities and genocide perpetrated by the Zionist regime in the Gaza Strip. The humanitarian catastrophe has been in place for more than eight months in Palestine, and the international community, hindered by the dominance system, has failed to stop the attacks against innocent people, particularly women and children.

Meanwhile, each of the ACD member states has made efforts in their turns to end these crimes, establish a ceasefire and deliver humanitarian aid to Gaza. It is still essential to make collective efforts in this regard as a step in line with the ACD objectives which will be emphasized during the Tehran meeting.

It is also noteworthy that in mid-June, during the D-8 Foreign Ministers' meeting in Turkiye, we witnessed the efforts of the member states to adopt collective stances in order to stop the attacks and end genocide in Gaza.

Established in 2002, the ACD encompasses a vast expanse of the Asian continent and its 35 member states represent 56 per cent of the world's population and 35 per cent of the global GDP.

Through dialogue and partnership, these nations aim to develop their relations in various fields such as transportation and communication, sciences, technology and innovation, education and human resource development, food, energy, and water security, culture and tourism and inclusive and sustainable development.

The Islamic Republic of Iran joined the ACD in 2004 and is considered one of its active members. Since October 2023, the Iranian late Foreign Minister was the ACD Chair. In addition to the Islamic Republic of Iran, the ACD's member states include Thailand, Indonesia, Malaysia, the Philippines, Brunei, Singapore, Cambodia, Vietnam, Myanmar, Laos, Nepal, Russia, Turkiye, Japan, China, Mongolia, South Korea, India, Afghanistan, Pakistan, Bangladesh, Sri Lanka, Bhutan, Kuwait, Bahrain, Saudi Arabia, Qatar, the UAE, Oman, Palestine, Kazakhstan, Uzbekistan, Kyrgyzstan and Tajikistan.

Forming an “Asian Community” is one of the ACD's stated aspirations. Given the rich cultural heritage and lasting values of Asia, as well as the continent's strong potential and actual economic and technological foundations, if a stronger sense of belonging to an Asian community is created among the Asian peoples, it will undoubtedly bring about a number of significant benefits.

This would also encourage the Asian states to form Asian coalitions and ultimately an "Asian Union" at an appropriate time andthe ACD can play a crucial role in this regard. Moreover, the impact of people-to-people interactions and the role of the private sectors in achieving these valuable goals should not be overlooked. Intra-Asian tourism, cultural exchanges and the active participation of the private sectors of the ACD member states in intra-Asian economic and trade interactions are effective drivers in this process.

As the ACD Chair, the Islamic Republic of Iran took good steps in both above-mentioned areas. Appointing Yazd as the "ACD Tourism Capital for 2024" has provided a suitable ground for hosting various Asian cultural and tourism activities. Moreover, this year, Yazd will host the meeting of the ACD tourism ministers, where they will make decisions regarding their upcoming cooperation. In May, Isfahan hosted the Chambers of Commerce from the ACD member states, resulting in conclusion of some agreements on future joint measures and the "Isfahan Pact".

The Islamic Republic of Iran's foreign policy includes multilateralism, good-neighbourliness and collective development through regionalism. Thus, countering unilateralism and hegemony and supporting regional and extra-regional multilateral mechanisms are among Iran's top diplomatic priorities.

Accordingly, we availed ourselves of our capacity as the ACD Chair to foster and stabilize its dialogue and cooperation structures, and with the support of the member states and the ACD secretariat, we took some effective and positive steps in this regard. The ACD Ministerial meeting in Tehran will review and decide on some of these measures and initiatives.

 
&nbsp;

This week, Tehran will host a Ministerial meeting for Ministers of Foreign Affairs of the Asia Cooperation Dialogue (ACD) member states. Foreign Ministers and senior officials from 35 countries, along with heads of regional and multilateral Asian organisations, will take part in this gathering.

This week, Tehran will host a Ministerial meeting for Ministers of Foreign Affairs of the Asia Cooperation Dialogue (ACD) member states. Foreign Ministers and senior officials from 35 countries, along with heads of regional and multilateral Asian organisations, will take part in this gathering. This significant multilateral event takes place while the Islamic Republic of Iran mourns the loss and martyrdom of two pioneers of multilateralism, late President Raisi and late Foreign Minister Dr Amir-Abdollahian who supported the upcoming meeting in Tehran with their wisdom. The incumbent Iranian government has shown a serious and remarkable commitment, led by the martyred President and Foreign Minister, to compensate the monopolised interaction and reliance on the West by focusing on the East, fostering the Asian identity and ultimately ensuring that good-neighbourliness policies serve collective development and security. Undoubtedly, promoting regional integrity through active membership to regional and global organisations would save the international community from the harms of the dominance systems and direct it towards multilateralism as a means of realizing justice in the international arena. The current Iranian administration's particular focus on the Shanghai Cooperation Organization (SCO) and BRICS, which started following Iran's official membership to these two international mechanisms which are based on multilateral thinking and were continued with its active participation would be studied from the same perspective. In pursuing multilateralism, we need to take identity and aspirations into account as well, and the ACD addresses this essential need. Emerging powers' membership to this forum will further energise it in order to form its identity and enhance optimism to its promising future. Asia and the world are still deeply saddened and shocked by the ongoing atrocities and genocide perpetrated by the Zionist regime in the Gaza Strip. The humanitarian catastrophe has been in place for more than eight months in Palestine, and the international community, hindered by the dominance system, has failed to stop the attacks against innocent people, particularly women and children. Meanwhile, each of the ACD member states has made efforts in their turns to end these crimes, establish a ceasefire and deliver humanitarian aid to Gaza. It is still essential to make collective efforts in this regard as a step in line with the ACD objectives which will be emphasized during the Tehran meeting. It is also noteworthy that in mid-June, during the D-8 Foreign Ministers' meeting in Turkiye, we witnessed the efforts of the member states to adopt collective stances in order to stop the attacks and end genocide in Gaza. Established in 2002, the ACD encompasses a vast expanse of the Asian continent and its 35 member states represent 56 per cent of the world's population and 35 per cent of the global GDP. Through dialogue and partnership, these nations aim to develop their relations in various fields such as transportation and communication, sciences, technology and innovation, education and human resource development, food, energy, and water security, culture and tourism and inclusive and sustainable development. The Islamic Republic of Iran joined the ACD in 2004 and is considered one of its active members. Since October 2023, the Iranian late Foreign Minister was the ACD Chair. In addition to the Islamic Republic of Iran, the ACD's member states include Thailand, Indonesia, Malaysia, the Philippines, Brunei, Singapore, Cambodia, Vietnam, Myanmar, Laos, Nepal, Russia, Turkiye, Japan, China, Mongolia, South Korea, India, Afghanistan, Pakistan, Bangladesh, Sri Lanka, Bhutan, Kuwait, Bahrain, Saudi Arabia, Qatar, the UAE, Oman, Palestine, Kazakhstan, Uzbekistan, Kyrgyzstan and Tajikistan. Forming an “Asian Community” is one of the ACD's stated aspirations. Given the rich cultural heritage and lasting values of Asia, as well as the continent's strong potential and actual economic and technological foundations, if a stronger sense of belonging to an Asian community is created among the Asian peoples, it will undoubtedly bring about a number of significant benefits. This would also encourage the Asian states to form Asian coalitions and ultimately an "Asian Union" at an appropriate time andthe ACD can play a crucial role in this regard. Moreover, the impact of people-to-people interactions and the role of the private sectors in achieving these valuable goals should not be overlooked. Intra-Asian tourism, cultural exchanges and the active participation of the private sectors of the ACD member states in intra-Asian economic and trade interactions are effective drivers in this process. As the ACD Chair, the Islamic Republic of Iran took good steps in both above-mentioned areas. Appointing Yazd as the "ACD Tourism Capital for 2024" has provided a suitable ground for hosting various Asian cultural and tourism activities. Moreover, this year, Yazd will host the meeting of the ACD tourism ministers, where they will make decisions regarding their upcoming cooperation. In May, Isfahan hosted the Chambers of Commerce from the ACD member states, resulting in conclusion of some agreements on future joint measures and the "Isfahan Pact". The Islamic Republic of Iran's foreign policy includes multilateralism, good-neighbourliness and collective development through regionalism. Thus, countering unilateralism and hegemony and supporting regional and extra-regional multilateral mechanisms are among Iran's top diplomatic priorities. Accordingly, we availed ourselves of our capacity as the ACD Chair to foster and stabilize its dialogue and cooperation structures, and with the support of the member states and the ACD secretariat, we took some effective and positive steps in this regard. The ACD Ministerial meeting in Tehran will review and decide on some of these measures and initiatives.

Asia Cooperation Dialogue: An Opportunity to Deepen Intra-Asian Cooperation and Interaction

India's monsoon is advancing after stalling for more than a week. Rains are set to cover central parts of the country in the next few days. Watch this video for all details.

Heatwave envelops parts of North India, monsoon inches Northwa

Now, let's look at how markets opened this morning. Asian markets rose in early trade on Tuesday, tracking a surge in several major technology companies, which propelled US Stocks to yet another all-time high.

Asian stocks rise tracking record US Rally

Now, let's look at how markets opened this morning. Asian stocks declined to shrug off a positive session on wall street, with the S&P 500 hitting a fresh record high. Reason: A double-whammy of the US inflation report and the federal reserve decision landing later in the day kept traders on edge.

'Set the Alarm' rings across Asia ahead of FED & inflation

Oil Rose in early Asia trading after registering the biggest rise in 4 months on Monday and this comes ahead of an OPEC report on supply and demand. US crude climbed above $78 a barrel after surging 2.9% in the previous session.

Oil holds biggest gain since February ahead of OPEC market report

Around the world are dying younger than they should because of dirty air. A study by University in Singapore found a link between tiny pollution particles and 135 million early deaths between 1980 and 2020. Watch in for more details!

Air Pollution Crisis: 40 years of data reveal global health crisis, Asia worst affected

Airfare prices in Europe and Asia are showing signs of cooling down after a period of rapid increase. This next report explores what's driving this shift and how it impacts travellers around the world.

Airfares fall in Europe & Asia

Delhi recorded a temperature of 52.9°C on Wednesday afternoon it's the highest ever in India. There have been 61 suspected heatstroke deaths in Inda since March out of which 22 were poll officials. Watch this video for all the details.

India: 61 suspected heatwave deaths confirmed since March, 22 poll officials among fatalities

Delhi recorded a temperature of 52.9°C on Wednesday afternoon it's the highest ever in India. But now the country's Met department is investigating the temperature sensor readings from Delhi. Watch this video for all the details.

Heatwave condition persists in North India, IMD says 'it will ease in 3-4 days'

Let's look at how markets opened this morning. Asian stocks traded in a narrow range, and the dollar fell in anticipation of a series of inflation reports that would likely shape the course of global monetary policy.

Asian stocks tread water before inflation data

Most parts of northwest India will not get respite from the scorching heat in June, even as there is a brief relief after three days due to western disturbances...

Heatwave continues in Northwest, Central India; IMD predicts heatwave days for June

The blistering heat across India, especially northern India, continues as the maximum temperature breached the 48 degrees Celsius mark in the Indian state of Rajasthan, which is the highest so far this season.

Heat alert in India: Intense heatwave sweeps across northern India

North India sizzles in searing heat whereas storm brews in Bay of Bengal

The blistering heat across India, especially northern India, continues as the maximum temperature breached the 48 degrees celsius mark in the Indian state of Rajasthan, which is the highest so far this season.

Heatwave alert across North India

An auto industry outlook on investments in the Asia Pacific by BMI (a unit of Fitch Solutions) revealed that India attracted the maximum number of auto-related investments during Q1 2024. The BMI report tracked 38 new automotive manufacturing projects announced or inaugurated in Asia (valued at over $44.4 billion&nbsp;in total).&nbsp;India emerged as the most favoured investment destination, with nine of these investments.&nbsp;Following India were South Korea and Thailand, with six investments each.

However, the number of investments and the value of the investments tracked in Q1 2024 are down&nbsp;on a year-on-year basis. The number of projects dropped by 17.4%&nbsp;and&nbsp;the value drop&nbsp;was recorded&nbsp;at 36.6%.

Key reasons&nbsp;why&nbsp;investments in India&nbsp;were recorded&nbsp;going up include the Red Sea crisis and the market focus on developing the semiconductor industry – the latter witnessed significant&nbsp;investments,&nbsp;alongside the Indian EV value chain’s development. According to the BMI report, the Indian government has approved investments to&nbsp;the tune of&nbsp;$15.2 billion for developing three new semiconductor manufacturing plants. Given the Red Sea crisis, companies have also accelerated de-risking their supply chains, especially for India, by diversifying their logistic routes.

Also Read: <a href="https://www.wionews.com/business-economy/bosch-ventures-boosts-battery-recycling-with-strategic-investments-in-cylib-and-li-industries-723306">Bosch Ventures boosts battery recycling with strategic investments in Cylib and Li Industries</a>

The next boost for the Indian automotive sector could be&nbsp;the reduction in the&nbsp;taxation on hybrid cars. However, Nomura Ratings suggests the Finance Ministry is unlikely to take the matter up in the next GST council. As the proposal for this had been submitted to the Finance Ministry by Nitin Gadkari, Union minister for Road Transport and Highways, there were hopes that&nbsp;it would be taken up&nbsp;in the next GST council meeting.

As for South Korea, the country performed well due to access to the US EV market, subsidies through the US Inflation Reduction Act (IRA), and increased collaboration by the local industry with Japan, Europe and US-based automotive players. In Thailand, geopolitical stability and lucrative government incentives, including tax holidays spanning three to 11 years for EV production, will help promote EV production in the country.

An auto industry outlook on investments in the Asia Pacific by BMI (a unit of Fitch Solutions) revealed that India attracted the maximum number of auto-related investments during Q1 2024.

An auto industry outlook on investments in the Asia Pacific by BMI (a unit of Fitch Solutions) revealed that India attracted the maximum number of auto-related investments during Q1 2024. The BMI report tracked 38 new automotive manufacturing projects announced or inaugurated in Asia (valued at over $44.4 billion in total). India emerged as the most favoured investment destination, with nine of these investments. Following India were South Korea and Thailand, with six investments each. However, the number of investments and the value of the investments tracked in Q1 2024 are down on a year-on-year basis. The number of projects dropped by 17.4% and the value drop was recorded at 36.6%. Key reasons why investments in India were recorded going up include the Red Sea crisis and the market focus on developing the semiconductor industry – the latter witnessed significant investments, alongside the Indian EV value chain’s development. According to the BMI report, the Indian government has approved investments to the tune of $15.2 billion for developing three new semiconductor manufacturing plants. Given the Red Sea crisis, companies have also accelerated de-risking their supply chains, especially for India, by diversifying their logistic routes. Also Read: Bosch Ventures boosts battery recycling with strategic investments in Cylib and Li Industries The next boost for the Indian automotive sector could be the reduction in the taxation on hybrid cars. However, Nomura Ratings suggests the Finance Ministry is unlikely to take the matter up in the next GST council. As the proposal for this had been submitted to the Finance Ministry by Nitin Gadkari, Union minister for Road Transport and Highways, there were hopes that it would be taken up in the next GST council meeting. As for South Korea, the country performed well due to access to the US EV market, subsidies through the US Inflation Reduction Act (IRA), and increased collaboration by the local industry with Japan, Europe and US-based automotive players. In Thailand, geopolitical stability and lucrative government incentives, including tax holidays spanning three to 11 years for EV production, will help promote EV production in the country.

India leads in Asia in auto investments in Q1 2024: BMI

It is the eighth day of the fourth lunar month. In many Asian cultures it is Buddha's birthday today. How are they celebrating it?

Gravitas: Asian countries celebrate Buddha's birthday

With billions of people across Asia being affected by record-breaking heatwave in April, scientists now say that the impact was most likely made worse by the human-made climate change. Watch in for more details!

Asian continent bears brunt of heatwave

Global private equity investors and asset managers are readying for billions of dollars worth of investments linked to data centres in the Asia Pacific region. The rise of data centre investments in Asia comes at a time when tech giants like amazon, Microsoft, alphabet and meta are rapidly expanding their AI capabilities.

Asia Pacific to see mega investments into data centres: Report

In the dynamic landscape of global economics Asia is emerging as a power Powerhouse of wealth creation with India at its Forefront. Watch in for more details!

Asian cities drive global growth: Henley puts spotlight on wealth trends

A surge in attacks by Houthi militants in the red sea is wreaking havoc on global shipping. Major shipping companies like Maersk and Hapag-Lloyd have been forced to reroute vessels around Africa's cape of good hope, adding significant distance and cost to journeys.

Maersk forecasts 20% capacity reduction in Asia-Europe shipping

The international monetary fund (IMF) has revised its growth forecast for Asia in 2024 upwards to 4.5%. This reflects a more optimistic outlook for the region's two largest economies, china, and India.

IMF upgrades Asia growth forecast to 4.5% in 2024

South and Southeast Asia are bracing for more extreme heat, as authorities across the region issued health warnings and residents made their way to parks and air-conditioned malls for relief.

Asia swelters under record heatwave | Cambodia, Myanmar & Bangladesh warn temp could exceed 45°C

Heatwave sweeps across Asia

Watch the top headlines of the hour: - Intense heat wave in South, South east Asia - Russia, Ukraine carry out strikes - Israel-Hezbollah tensions at new peak - Israel-Hamas ceasefire deal push

Intense heat wave in South, South east Asia | Russia, Ukraine carry out strikes

The India Meteorological Department (IMD) predicted severe heatwave conditions to continue over East and South Peninsular India for five days. Watch to know more.

Heatwave alert in Asia: Sweltering heat across South, Southeast Asia

Recently a study has revealed that dams holding vast amounts of uranium mine tailings above the fertile Fergana valley in Central Asia are unstable, threatening a possible Chernobyl-scale nuclear disaster. Watch the video to know more.

Nuclear waste threatens land: Unstable nuclear-waste dams threaten fertile Central Asia heartland

The World Meteorological Organization has stated that Asia was the world's most disaster-hit region by climate-related hazards last year. The body has also underlined that floods and storms caused the highest number of casualties.

Asia is world's disaster capital: Report

Let's look at how markets opened this morning. Markets looked directionless, with Asian benchmarks range-bound after wall street stocks extended their longest losing streak since January.

Dollar takes a breather as investors reassess FED's rate path

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