Israel: 'Gaza is burning' as military reportedly launches ground offensive
Large plumes of smoke were rising in Gaza on Tuesday (September 16) morning, amid reports from Axios citing Israeli officials said that the Israeli mi...
The Asian Development Bank (ADB) has approved a plan to scale up its operations by 50% over the next decade, leveraging its existing capital base to enhance bank’s impact across Asia and the Pacific.
ADB’s Capital Utilization Plan (CUP) outlines a pathway for increasing ADB’s annual financing commitments from $24 billion in 2024 to exceed $36 billion by 2034. This expanded financing will bolster ADB’s developing member countries’ (DMCs) efforts to address critical development priorities in the region, - said in the Bank’s press-release.
“By utilizing our enhanced lending capacity, the CUP enables us to make strategic investments to address complex challenges while raising the quality and effectiveness of our operations across the region,” - said ADB President Masatsugu Asakawa.
Over the next decade, ADB’s net income is expected to grow steadily. The Bank plans to strategically invest part of this income to assist DMCs in developing high-quality, bankable projects and mobilizing sustainable finance through capital markets. New initiatives include a borrowing facility with both financial and non-financial incentives to promote investments in resilience and sustainability, as well as more flexible instruments to enhance project preparation, according to the press-release.
These initiatives include increasing the share of climate finance to 50% of total commitments and reaching total private sector financing of $13 billion, from both ADB's own financing and direct mobilization, for the year 2030.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
At least eight people have died and more than 90 others were injured following a catastrophic gas tanker explosion on a major highway in Mexico City’s Iztapalapa district on Wednesday, authorities confirmed.
The founding family of Italiana Petroli is close to finalising the sale of the oil refiner to the State Oil Company of Azerbaijan (SOCAR), in a deal that would give the Azerbaijani group control of one of Italy’s largest petrol station networks, three sources have said.
India's retail inflation (INCPIY=ECI) rose to 2.07% in August as food prices edged up, although it remained within the central bank's tolerance range for the tenth consecutive month.
Jaguar Land Rover (JLR) said Wednesday that it now believes “some data has been affected” after a cyberattack forced the company to shut down operations last Tuesday. Staff have been instructed to work from home since the incident.
Oracle co-founder Larry Ellison has overtaken Tesla Chief Elon Musk as the world’s richest person after a surge in the company’s stock lifted his net worth to $393 billion, according to the Bloomberg Billionaires Index.
China has launched its first review of its foreign trade law since 2004, signalling a potential shift in how the country manages international commerce amid rising global trade tensions.
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