标签： Asia

The oneworld Alliance, a prominent global airline consortium comprising 15 members including American Airlines and Qantas Airways, is actively exploring the possibility of adding an Indian airline partner. This strategic move comes as India’s aviation market continues to experience rapid expansion. Nat Pieper, the alliance’s CEO, revealed this development during the Wings Club gathering in New York, a forum for aviation executives and analysts. Pieper emphasized the complexity of integrating a new member, noting that the decision must align with the interests of both the alliance as a whole and its individual members. With ten of its current members already operating in India, the alliance is also considering collaborative initiatives such as loyalty programs and shared lounge facilities to enhance their collective presence in the region. The anticipated addition of Hawaiian Airlines in 2026, following its acquisition by Alaska Air in 2024, further underscores the alliance’s commitment to growth and diversification.

India’s Securities and Exchange Board (Sebi) has officially dismissed allegations of stock manipulation and financial fraud against billionaire Gautam Adani and his conglomerate, which were initially raised by US short-seller Hindenburg Research. The investigation, launched in 2023 following Hindenburg’s explosive report, concluded that Adani’s companies did not violate regulatory norms. Sebi’s findings revealed no evidence of undisclosed transactions between Adani’s firms and related parties, nor any signs of market manipulation, money siphoning, or investor losses. Adani, one of Asia’s wealthiest individuals, celebrated the decision on social media, stating that Sebi’s ruling reaffirmed the baseless nature of Hindenburg’s claims. The allegations had previously caused Adani’s group to lose over $100 billion in market value within days. The controversy also fueled political tensions in India, with the opposition Congress party accusing Prime Minister Narendra Modi’s BJP of inaction. Hindenburg’s founder, Nate Anderson, recently announced the dissolution of the firm, citing personal reasons. The case underscores the complexities of financial scrutiny and the impact of short-selling on global markets.

The Bank of Japan (BOJ) concluded its two-day policy meeting on Friday, September 19, 2024, with expectations of maintaining its short-term interest rate at 0.5%. This decision comes amidst growing concerns over the impact of U.S. President Donald Trump’s tariffs and signs of a weakening U.S. economy. The BOJ’s cautious stance reflects the fragile state of Japan’s economic recovery, which is increasingly vulnerable to external pressures, particularly on exports. Governor Kazuo Ueda is scheduled to hold a news conference at 0630 GMT, where markets will closely monitor his views on the tariff implications and the broader economic outlook. Analysts predict that the BOJ will remain cautious in its approach, with potential rate hikes delayed until early next year. The central bank’s policy outlook is further complicated by domestic political uncertainty, as Japan’s ruling party prepares for a leadership race following Prime Minister Shigeru Ishiba’s resignation earlier this month. Despite global uncertainties, some hawkish BOJ members have warned of the risks of prolonged negative real borrowing costs, driven by stubbornly high food prices and a tight job market. Japan’s consumer inflation has remained above the BOJ’s 2% target for over three years, adding pressure on households’ cost of living. The BOJ exited its decade-long stimulus program last year and raised rates in January, but the path forward remains uncertain as policymakers navigate the dual challenges of domestic inflation and external economic risks.

In a recent interview in Madrid, U.S. Treasury Secretary Scott Bessent emphasized that China’s yuan valuation poses a more significant challenge for Europe than for the United States. Bessent noted that while the yuan has strengthened against the U.S. dollar this year, it has reached record lows against the euro, exacerbating trade imbalances between China and the European Union. Speaking to Reuters and Bloomberg following U.S.-China trade discussions, Bessent highlighted that U.S. tariffs on Chinese imports have effectively reduced the U.S. trade deficit, with U.S.-China trade declining by 14% this year. In contrast, Chinese trade with Europe has surged by 6.9%. The yuan, also referred to as the renminbi (RMB), has weakened to over 8.4 against the euro, compared to 7.5 at the start of 2025. This depreciation has facilitated a surge in Chinese exports to Europe, intensifying the EU’s trade deficit with China and escalating trade tensions between Brussels and Beijing. Meanwhile, the yuan has appreciated slightly against the dollar, moving from 7.3 in January to 7.1 currently. When questioned about potential currency manipulation, Bessent remarked that the yuan is a ‘closed currency,’ implying that its value is managed by Chinese authorities. The ongoing dynamics underscore the complex interplay between global currencies and trade relationships, with Europe bearing the brunt of the yuan’s recent fluctuations.

India’s direct tax collections have shown a robust growth trajectory in the first half of the fiscal year, according to a government statement released on Thursday. From April 1 to September 17, net direct tax revenues surged by over 9% year-on-year, reaching 10.8 trillion rupees. On a gross basis, which includes both corporate and personal taxes, collections climbed by more than 3% to 12.4 trillion rupees during the same period. The income tax department highlighted that this growth reflects the country’s economic resilience and improved tax compliance. Additionally, the government issued tax refunds amounting to 1.6 trillion rupees, marking a 24% decline compared to the previous year. This reduction in refunds suggests a more efficient tax administration and tighter fiscal management. The data underscores India’s ongoing economic recovery and its ability to sustain revenue growth despite global uncertainties.

India’s Central Bureau of Investigation (CBI) has formally filed chargesheets in a high-profile case involving alleged fraudulent transactions between Yes Bank, companies owned by billionaire Anil Ambani, and entities linked to the bank’s former CEO, Rana Kapoor. The investigation reveals that in 2017, Yes Bank invested over 50 billion rupees ($567.21 million) in two Ambani-controlled firms, despite warnings from rating agencies about financial risks. The funds were reportedly siphoned off, leading to a systematic diversion of public money. CBI alleges that Kapoor misused his position to channel bank funds into financially troubled Ambani group companies, which in turn provided concessional loans to businesses associated with Kapoor’s family. This arrangement allegedly caused a loss of 27.97 billion rupees ($317.29 million) to Yes Bank while benefiting Ambani’s firms and Kapoor’s family-linked companies. Neither Anil Ambani’s spokesperson nor Rana Kapoor has responded to requests for comment. The case highlights significant governance lapses and financial misconduct in India’s banking sector.