New Delhi: A construction boom, a housing problem, and an affordability crisis—South Asia is going through the adolescent phase of urban development, The Economist notes, explaining what lies ahead for three capital cities of South Asia: New Delhi, Manila, Jakarta.
“The likes of Delhi, Jakarta and Manila suffer from awful pollution, traffic and crime. The greatest challenge is a shortage of decent and affordable housing,” it says.
The report highlights that providing housing to millions of city dwellers would make the economy more productive. Asian Development Bank data shows that more than 40 percent of Asia’s urban population lives in “substandard” accommodation, it says. For example, India would need to build 47 million homes to improve its citizens’ living standards.
The report also notes that an affordable housing crisis is affecting Asian economies. “For one thing, squalid conditions may be discouraging rural people who could find more productive work in the cities from starting new lives in them,” it asserts.
Affordable, safer housing would also deliver direct economic benefits. It cuts time lost to illness, allows people to work from home, and gives children the stability and space they need to attend and stay in school, it adds.
“Planning, financing and building affordable homes can be slow work. Politicians can usually find quicker ways to win votes. But the economic case for improving housing is strong. And the political rewards from doing so may be massive,” The Economist underlines.
Rakesh Sharma and Weilun Soon report in Bloomberg on Indian Oil Corporation buying Iranian LPG for the first time since 2018. The refiner will share the acquired shipment with its state-owned peers Bharat Petroleum Corp and Hindustan Petroleum Corp.
“Indian Oil last bought LPG from Iran in June 2018, according to data intelligence firm Kpler, which said the current cargo is about 43,000 tons of butane and propane,” says the report, adding that this amount can only cover half a day’s demand in India.
“It’s the first Indian purchase of energy from Iran since the US issued a temporary waiver earlier this month allowing the country to buy crude oil or petroleum products from the Islamic Republic. The market has been watching for signs of potential buyers for Iranian cargoes that were long considered out of reach due to harsh US sanctions,” the report says.
Referencing Kpler’s ship-tracking data, it adds that “LPG carrier Sea Bird is transporting Iranian LPG and signalling it will arrive at India’s Mangalore port on Thursday”.
India is also in the final stages of negotiations for the safe passage of two more LPG cargoes through Hormuz. The vessels Green Asha and Green Sanvi are contracted by BPCL, according to the report.
Nikita Yadav writes in the BBC about the Singapore coroner’s report on Assamese singer Zubeen Garg’s death last year.
Garg, 52, died on 19 September after drowning in the sea off Singapore’s coast.
“The singer’s sudden death sparked anger and distress among millions of fans in his home state Assam, and set off a wave of mourning,” it says.
The incident also drew political attention with Assam Chief Minister Himanta Biswa Sharma terming it “plain and simple murder”. Without evidence, seven persons who were arrested in connection with the death remain in custody, the report points out.
The coroner’s inquiry noted that Garg’s death was “simply due to an unfortunate and tragic accidental drowning”.
A day before in his performance in Singapore on 20 September, Garg had gone out on a yacht, and went into the sea twice to swim. Once with a life jacket, and the second time without.
According to the coroner’s report, Garg had consumed alcohol, which likely “impaired his judgement”, says the report.
While there was no delay in administering medical care or first aid to Garg, the report highlights that “his alcohol levels were more than four times higher than the accepted limit for drink-driving”.
“Garg was a cultural icon in Assam and sang in more than 40 languages and dialects in a career spanning 33 years. He was known for his powerful voice, moving easily between romantic ballads and more sombre songs,” notes the report.
(Edited by Nida Fatima Siddiqui)
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