Indian Prime Minister Narendra Modi has asked for a €40 billion credit from the Asian Infrastructure Investment Bank to help improve his country’s infrastructure. The hope is that even more investors would come to India.
Sri Lankan President Maithripala Sirisena had triggered a constitutional and political crisis in the country by sacking Ranil Wickremesinghe in October. His reappointment, however, does not guarantee smooth sailing.
As the UN climate conference wraps up, Asia’s emission-producing economic powerhouses have said that their growing wealth doesn’t guarantee that they can fully comply with the Paris Agreement without assistance.
With polluted air and a coal-hungry economy, India is using the UN climate conference to show the world it can continue rapid development without fossil fuels. But the South Asian country still runs on dirty energy.
The rupee took a hit after the shock resignation of central bank governor Urjit Patel. He has reportedly been battling against interference from Prime Minister Narendra Modi's government for months.
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