Turkiye and India have topped a global ranking of employees’ well being, measured by assessing physical, mental, social and spiritual health based in a survey conducted by McKinsey Health Institute released on November 3. Japan has ranked last in the survey. Turkiye scored the highest at 78%, followed by 76% for India and 75% for China in the poll of more than 30,000 workers across 30 countries. Meanwhile, Japan scored 25%. The global average was 57%. In the survey, Indian employees reported the highest rates of burnout symptoms at 59%, while Cameroon reported the lowest at 9%; 22% of
Mundra Port in Gujarat handled 16.1 MMT of cargo in October, the highest-ever volume by any port in India. One of the flagship ports of Adani Ports & Special Economic Zone (APSEZ), the port is the largest port in the country with 102 MMT of cargo handled on a year to date (YTD) basis, at 9% year-on-year growth. It crossed the volume of 100 MMT in 210 days, overtaking the record of 231 days last year. Mundra saw double-digit growth on a year-on-year basis for containers (10%) and liquids and gas (14%). In another milestone, it handled 4.2 million TEUs of containers in just 203 days,
India’s Essar Group is poised to initiate an ambitious foray into low-carbon initiatives spanning three continents. This significant plan represents the conglomerate’s concerted effort to prioritise clean energy investments and take a leadership role in sustainable, environmentally-friendly solutions. The company is gearing up to invest in low-carbon ventures in Saudi Arabia, the United Kingdom, and India. It anticipates securing final approvals by June 2024 to kickstart a $4 billion project aimed at constructing a low-carbon steel plant with an annual production capacity of 4 million
Delhi-NCR is the sixth most expensive office space rental market across the APAC region, says Knight Frank’s latest Asia-Pacific Prime Office Rental Index for the third quarter of 2023. Meanwhile, Hong Kong SAR maintained its position as the most expensive office market in the region during the same quarter. The demand for office space in India’s largest occupier markets remained robust, with over 700,000 square meters of office space being leased during the quarter. The majority of this demand was driven by companies establishing Global Capability Centres, compensating for the reduced
Gentari, the clean energy division of Malaysia’s Petroliam Nasional Bhd (Petronas) and AM Green, a hydrogen and ammonia producer owned by the founders of Indian renewable company Greenko Energy Holdings, have together signed definitive agreements with an affiliate of Singapore’s sovereign wealth fund, GIC, to produce 5 million tons per annum (MTPA) of green ammonia by 2030. Petronas, GIC and Greenko Energy Holdings are investing $2 billion in AM Green. Of this, $1.5 billion will come from Petronas for a 30% stake. GIC of Singapore and the Greenko founders are expected to invest $250 mi
Singapore is about to begin one of the first commercial projects in the world to use ammonia for bunkering and power generation. The country’s Minister for Trade and Industry Gan Kim Yong said on October 23 that an international supply chain and the technology for transporting ammonia are well established. The country has set its sights on using hydrogen for about 50% of its energy needs by 2050. Ammonia also has the potential to be used directly as fuel for power generation and maritime shipping, Gan said while speaking on the first day of Singapore International Energy Week at Marina B
South Africa is poised to reclaim its position as Africa’s largest economy, a title currently held by Nigeria. This shift in economic standings is attributed to a combination of South Africa’s consistent economic growth and Nigeria’s challenges in maintaining its rapid expansion. Over the years, South Africa has embarked on various reforms and initiatives aimed at boosting its economy. The country has seen substantial growth in sectors such as manufacturing, technology, and services. Investments in infrastructure and a focus on diversifying the economy have also played crucial roles
US investment bank Morgan Stanley on October 20 underscored India’s growing economic strength by upgrading India to “standout overweight.” The status is based on the country’s improving relative economic and earnings growth and the strength of the macro-stability set-up, which looks sufficient to withstand the higher real rate environment. The “dream” run of domestic flows continues and multipolar world dynamics are driving both FDI as well as portfolio flows towards the country, it said. Domestic equities top the brokerage’s global equity investment score with an overall sco
The Ministry of Electronics and Information Technology (MeitY) will start setting up Bharat Semiconductor Research Centre from next year in collaboration with the industry and academia, said Minister of State Rajeev Chandrasekhar on October 20. The centre aims to make India a global foundry supplier for semiconductors, packagers and integrated systems from design to products. A MeitY expert panel has recommended setting up a semiconductor research centre with an initial investment of around $8 billion (about Rs 66,500 crore) over the next five years. The panel submitted its report to the u
Prime Minister Narendra Modi on October 12 said that the unemployment rate in the country is at its lowest level in the last six years. In a video message to the Kaushal Deekshant Samaroh of the Ministry of Skill Development and Entrepreneurship, the Prime Minister noted that new possibilities are being created for the youth as India’s economy is expanding. “The unemployment is decreasing rapidly in both rural and urban areas of India. It means the benefits of development are reaching both villages and cities equally, and as a result, new opportunities are increasing equally in both vi