Headlines 

China to Overtake U.S. Economy by 2032 as Asian Might Builds

The growing leapfrogging the U.K. and France next year to become the world’s fifth-biggest economy in dollar terms. It will advance to third place by 2027, moving ahead of Germany. In 2032, three of the four largest economies will be Asian — China, India and Japan — and, by that time, China will also have overtaken the U.S. to hold the No. 1 spot. India’s advance won’t stop there, according to the CEBR, which sees it taking the top place in the second half of the century. Also by 2032,…

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Asia’s Richest Banker Spots a Once-in-a-Lifetime Opportunity

For India, it’s a $207 billion mess, a pile-up of bad loans years in the making that’s dragging on growth. For the nation’s wealthiest banker, it’s the kind of opportunity that very rarely presents itself. What has billionaire Kotak Mahindra Bank Ltd., in an interview. “Through this you could actually get assets that would give disproportionate returns for long periods of time.” Funds controlled by Kotak Mahindra are looking at deals involving the assets and debts of some of the first 12 companies going through the bankruptcy courts, Kotak said. Industries…

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Blockbuster Reforms May Take Back Seat as Modi Eyes Elections

India’s national sales tax might be the last big-ticket reform from Prime Minister Narendra Modi as he prepares for about a dozen of state polls and seeks re-election in 2019, government officials say. Modi is expected to conclude already-underway measures such as the privatization of state carrier easier to do business in India, reforming taxation and taking measures to pull banks out of their bad debt trap. Still, while global investors look favorably at Modi, his policies have not addressed the growing disenchantment among farmers and unemployed youth and senior…

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Resellers were already outside the Apple store just minutes after iPhone X launch

Image: yvette tan/mashable Just minutes after they got their hands on their new iPhone X devices, resellers were taking to the streets to sell them to the highest bidder. People began queueing at the Apple store in Singapore from as early as Thursday, with hundreds camping out overnight.  SEE ALSO: Apple iPhone X: Tracking the launch around the world Plenty of resellers were among them, when Mashable went down to the venue. Past doors opening at 8 a.m. on Friday morning, the road outside the Apple store quickly turned into…

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Flags and parades in India and Pakistan for 70th anniversary celebrations

Tensions in India over patriotic oath for children and order for Islamic schools to film independence day ceremonies National flags are being hawked at traffic lights, the Indian parliament has been illuminated, and monkey traps have been installed around Delhi monuments as India prepares to celebrate the 70th anniversary of its independence. Above Pakistans capital, Islamabad, this weekend, air force jets left a multicoloured trail as they rehearsed for the largest air show in the countrys history on Monday, when it celebrates its own creation in 1947. Indian prime minister…

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‘They don’t care’: Indian government accused of prejudice by Chakma people

Families living on riverbanks of north-east India claim pleas for help following devastating floods have been ignored on religious and racial grounds The Indian government has been accused of religious and racial discrimination after members of the Chakma ethnic group said their pleas for help following the

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‘I don’t want tension’: Indian boxer beats China rival then offers belt back to heal border rift

Vijender Singh makes gesture of peace to Zulpikar Maimaitiali amid increasingly tense stand-off in Himalayas An Indian boxer won a title fight against a Chinese opponent before offering to hand back the prize as a gesture of peace between the two nations which are locked in a territorial dispute in the Himalayas. Vijender Singh beat Zulpikar Maimaitiali on points on Saturday to retain his WBO Asia Pacific super middleweight title and take his opponents WBO Oriental super middleweight belt. After the unanimous verdict in Mumbai, Singh hugged Bollywood star Amitabh…

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Partition, 70 years on: Salman Rushdie, Kamila Shamsie and other writers reflect

More than a million were killed and many millions more displaced by Indian partition. Authors consider its bloody legacy and the crises now facing their countries Pankaj Mishra Pankaj Mishra. Photograph: Windham-Campbell Prize To think about partition on its 70th anniversary is to think, unavoidably, about the extraordinary crisis in India today. The 50th and 60th anniversaries of one of the 20th centurys biggest calamities were leavened with the possibility that India, liberal-democratic, secular and energetically globalising, was finally achieving the greatness its famous leaders had promised. In contrast to…

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Kashmir: seven die after cable car falls 30m in tourist town

Gusty winds in Gulmarg uproot a huge pine tree that hits the cable of the coach, bringing it down to the ground Four Indian tourists and three local residents died when a cable car came crashing down from a height of at least 30 meters (100ft) in a tourist town in the Indian portion of Kashmir. Four other people were injured in the accident in the resort town of Gulmarg, said senior police officer Imtiyaz Hussain. One of the injured was in a critical condition. Hussain said gusty winds in…

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UN panel releases draft treaty banning possession and use of nuclear weapons

States would have to destroy any nuclear weapons they have and would be forbidden from transferring them A draft treaty banning the possession and use of all nuclear weapons. The draft treaty is the culmination of a sustained campaign, supported by more than 130 non-nuclear states frustrated with the sclerotic pace of disarmament, to prohibit nuclear weapons and persuade nuclear-armed states to disarm. Nine countries are known or believed to possess nuclear weapons: the US, UK, Russia, China, France, India, Pakistan, North Korea and Israel. None has supported the draft…

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Odds and Ends 

Crunch Report | Waymo v. Uber is going to trial

Gorilla Glass maker Corning gets $200 million from Apples US manufacturing investment fund Xiaomi puts the focus on India with plans to open 100 retail stores

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Kashmir violence: two civilians killed in border clash

Indian and Pakistani troops traded fire on Saturday, killing teenage girl and 51-year-old man, officials said Indian and Pakistani troops exchanged fire in the disputed Himalayan region of Kashmir on Saturday, killing two civilians and wounding six others, officials said. Indian army spokesman Lieutenant Colonel Manish Mehta said Pakistani soldiers started shelling and firing at Indian military posts in the morning in the Nowshera sector along the highly militarised Line of Control that divides the region between India and Pakistan. He said Indian troops returned fire and that the battle…

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Xiaomi puts the focus on India with plans to open 100 retail stores

Xiaomi isincreasing its office retail presence in China as bids to gain ground stolen by rivals in its homeland, and now itis making that very same push in its second largest market, India. The Chinese company, which is Xiaomi, notably, didnt go public with sales figures for 2016 but India has been a bright spot. according to analyst firm Canalys. Now it is doubling down on the country by introducing its Mi Home stores, starting with a debut spaceinBengaluru which will open in just over a week. The plan is…

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Beyond Bollywood: where India’s biggest movie hits really come from

The global success of fantasy epic Baahubali 2: The Conclusion underscores the power of the countrys billion-dollar regional film industry The global success of Baahubali: The Beginning (2015), grossed $100m worldwide but caused little more than a ripple outside India. Within the country, it made waves because the film, made in the south Indian Telugu and Tamil languages, saw the Hindi-dubbed version alone gross more than $20m. It is a common misconception that the Hindi-language, Mumbai-based film industry known as Bollywood is Indias national cinema. The numbers tell a different…

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