Afp Business Asia

China’s premier ‘fully confident’ of hitting growth targets

Chinese Premier Li Qiang said Tuesday he was “fully confident” the country would hit its economic goals this year, lauding recent stimulus measures and suggesting there was still room for more.China’s leaders have set an annual growth target of around five percent, but in the third quarter the country saw its slowest expansion in a year and a half as its post-pandemic recovery remained stubbornly uneven.The government has announced a raft of measures aimed at boosting activity, including rate cuts and the easing of some home purchasing restrictions, but analysts have criticised the lack of detail so far.  Observers hope a specific figure for the stimulus could emerge from this week’s meeting of the Standing Committee of National People’s Congress, the top body of China’s rubber stamp parliament. “We are fully confident in the realisation of this year’s goals and the development of China’s economy in the future,” Li said Tuesday at the opening ceremony of a major international trade show in Shanghai.Referring to the recent package of measures, Li, who has official responsibility for economic policy, said they had been “well-received”.”China’s major economic indicators have rebounded across the board, market confidence has increased significantly, social expectations have improved significantly, and there have been many positive changes in economic operation,” he said. An initial market rally when the measures were announced has since fizzled out, with investors put out by the lack of detail.But there have been glimmers of hope for the economy recently, including China’s manufacturing output expanding for the first time in six months in October.On Tuesday Li suggested that officials still had room to manouevre when it came to further measures. “In the face of downward economic pressure, we have the requirements for increasing counter-cyclical adjustments,” he said. “There is a relatively large space for financial and monetary policies, and the policy tools are even more abundant,” he added.

Asian markets swing ahead of toss-up US election

Asian markets fluctuated Tuesday as traders jockeyed for position a day before results from the US presidential election rolled in, with opinion polls showing the vote on a knife-edge as the two candidates wrapped up their campaigns.Uncertainty about the outcome and worries that the winner might not be known for days has led to warnings that investors could be in for a period of volatility.Eyes will also be on the Federal Reserve’s policy decision on Thursday, with expectations for another cut, while the post-meeting statement from bank boss Jerome Powell will be pored over for an idea about its plans for 2025.A win for Republican Donald Trump is expected to boost the dollar, restoke inflation and send Treasury yields higher owing to his pledges to slash taxes and impose tariffs on imports.But analysts see less upheaval from a win by Democratic Vice President Kamala Harris.”Some view a second Trump term as a potential ticket to higher deficits and a dash of inflation, courtesy of his tax-and-tariff playbook,” said Stephen Innes at STI Asset Management.”A Trump victory with a Republican Congress would likely mean a green light for these pro-growth, deficit-stirring policies.”With Harris and a divided Congress, radical Democratic policies would face a wall, keeping fiscal volatility in check compared to Trump’s economic flamethrower.”He added that a Trump win and Republican sweep of both houses of Congress could cause headaches for Powell as he continues his battle to bring inflation to heel.National Australia Bank’s head of market economics, Tapas Strickland, said that after Thursday’s decision: “Harder discussions come in December and beyond, especially on the pace of potential cuts, where rates are likely to go, and any policy impacts by the next president and Congress.”Wall Street’s three main indexes ended in the red, and Asian traders battled to build on their broadly positive Monday performance, with markets swinging in and out of positive territory.Hong Kong and Shanghai rose as traders await the end of a government meeting this week to hammer out an economic stimulus.Officials are expected to give the go-ahead to about $140 billion in extra budget spending, mostly for indebted local governments, and a similar one-off payment for banks.Tokyo rallied more than one percent as investors returned from an extended weekend, while Wellington, Taipei, Jakarta and Manila also advanced. Sydney, Singapore and Seoul edged down.Oil prices inched down after surging almost three percent Monday after top producers agreed to extend output cuts through to the end of December and on worries about the Middle East crisis.- Key figures around 0230 GMT -Tokyo – Nikkei 225: UP 1.1 percent at 38,474.66 (break)Hong Kong – Hang Seng Index: UP 0.3 percent at 20,636.74Shanghai – Composite: UP 0.4 percent at 3,322.02Euro/dollar: DOWN at $1.0875 from $1.0878 on MondayPound/dollar: UP at $1.2957 from $1.2954Dollar/yen: UP at 152.33 yen from 152.17 yenEuro/pound: UP at 83.96 from 83.94 penceWest Texas Intermediate: DOWN 0.1 percent at $71.42 per barrelBrent North Sea Crude: DOWN 0.1 percent at $75.02 per barrelNew York – Dow: DOWN 0.6 percent at 41,794.60 (close)London – FTSE 100: UP 0.1 percent at 8,184.24 (close)

Stock markets hesitant before knife-edge US election

European and US stock markets dipped while the dollar slid Monday as investors steel themselves for a coin-toss US presidential election, an interest rate decision and expected Chinese stimulus measures.Oil prices rallied more than two percent after eight members of the OPEC+ group of producers said Sunday they would extend supply cuts until the end of next month.They had been delaying output hikes on worries about slowing demand in China and the United States.While Asian markets gained, tracking a positive lead from Wall Street ahead of the weekend, European markets were mostly lower and US markets wobbled.”Traders are gearing up for perhaps the most important week of the year,” said Joshua Mahony, chief market analyst at Scope Markets. Investors are looking for any hint of an advantage between the US presidential candidates as Democratic Vice President Kamala Harris and her Republican rival, ex-president Donald Trump, remain neck and neck in opinion polls ahead of Tuesday’s poll.The dollar retreated against its main rivals Monday as a fresh survey in Iowa — which Trump won in 2016 and 2020 — showed Harris leading over the weekend.A victory for Trump is seen as being positive for the dollar and pushing up Treasury yields owing to his pledges to cut taxes and impose hefty tariffs on imports.Elections for the Senate and House of Representatives are also being closely watched amid speculation the Republicans could take control of both.”If the Republicans sweep all three, that will open the door to significant fiscal changes, which is negative for bondholders and could spell higher yields until the dust settles,” said Peter Esho, founder of Esho Capital.The election comes before the Federal Reserve is due to make its latest policy decision this week, with investors expecting a 25-basis-point reduction after a bumper 50-point cut at its last gathering.With the candidates running neck-in-neck, little can be said with certainty.The vote is of particular interest to China, where officials in Beijing are meeting this week to hammer out an economic stimulus.Economists expect lawmakers to approve around one trillion yuan ($140 billion) in extra budget spending, mostly for indebted local governments, and a one-off one-trillion yuan payment for banks.Hong Kong made gains and Shanghai was up more than one percent at the close. Tokyo was shut for a holiday. In European trading, both Paris and Frankfurt ended the day lower but London bucked the trend to edge higher, with the Bank of England widely expected to cut its main interest rate on Thursday after inflation dropped below its target rate.Oil prices also firmed after Iran’s supreme leader Ayatollah Ali Khamenei warned at the weekend that Israel and the United States “will definitely receive a tooth-breaking response” to Israeli attacks on October 26.That strike was in response to an October 1 barrage of about 200 missiles against its rival.- Key figures around 2020 GMT -New York – Dow: DOWN 0.6 percent at 41,794.60 (close)New York – S&P 500: DOWN 0.3 percent at 5,712.69 (close)New York – Nasdaq Composite: DOWN 0.3 percent at 18,179.98 (close)London – FTSE 100: UP 0.1 percent at 8,184.24 (close)Paris – CAC 40: DOWN 0.5 percent at 7,371.71 (close)Frankfurt – DAX: DOWN 0.6 percent at 19,147.85 (close)Hong Kong – Hang Seng Index: UP 0.3 percent at 20,567.52 (close)Shanghai – Composite: UP 1.2 percent at 3,310.21 (close)Tokyo – Nikkei 225: Closed for a holidayEuro/dollar: UP at $1.0878 from $1.0834 on FridayPound/dollar: UP at $1.2954 from $1.2924Dollar/yen: DOWN at 152.17 yen from 153.01 yenEuro/pound: UP at 83.94 from 83.86 penceBrent North Sea Crude: UP 2.7 percent at $75.08 per barrelWest Texas Intermediate: UP 2.9 percent at $71.47 per barrelburs-jmb/bfm

Stock markets rise before knife-edge US election

Global stock markets rose and the dollar slid Monday as investors steel themselves for a coin-toss US presidential election, an interest rate decision and expected Chinese stimulus measures.Oil prices rallied around 2.5 percent after eight members of the OPEC+ group of producers said Sunday they would extend supply cuts until the end of next month.They had been delaying output hikes on worries about slowing demand in China and the United States.All major European and Asian markets gained, tracking a positive lead from Wall Street ahead of the weekend.”Traders are gearing up for perhaps the most important week of the year,” said Joshua Mahony, chief market analyst at Scope Markets. Investors are looking for any hint of an advantage between the US presidential candidates as Democratic Vice President Kamala Harris and her Republican rival Donald Trump remain neck and neck ahead of Tuesday’s poll.The dollar retreated against main rivals Monday as a fresh opinion poll in Iowa — which Trump won in 2016 and 2020 — showed Harris leading.A victory for Trump is seen as being positive for the dollar and pushing up Treasury yields owing to his pledges to cut taxes and impose hefty tariffs on imports.Elections for the Senate and House of Representatives are also being closely watched amid speculation the Republicans could take control of both.”If the Republicans sweep all three, that will open the door to significant fiscal changes, which is negative for bondholders and could spell higher yields until the dust settles,” said Peter Esho, founder of Esho Capital.The election comes before the Federal Reserve is due to make its latest policy decision this week, with investors expecting 25-basis-point reduction after a bumper 50-point cut at its last gathering.The vote is of particular interest to China, where Beijing is this week meeting to hammer out an economic stimulus.”We believe the US election results will have some impact on the size of Beijing’s stimulus package,” Nomura’s chief China economist, Ting Lu, said in a research note.Both candidates in the race have pledged to get tougher on Beijing, with Trump promising tariffs of 60 percent on all Chinese goods coming into the country.Economists expect lawmakers to approve around one trillion yuan ($140 billion) in extra budget, mostly for indebted local governments, and a one-off one trillion yuan payment for banks.Hong Kong made gains and Shanghai was up more than one percent at the close. Tokyo was closed for a holiday. In the eurozone, Paris and Frankfurt were higher in midday deals.London gained 0.6 percent, with the Bank of England widely expected to cut its main interest rate on Thursday after inflation dropped below its target rate.Oil prices won support also after Iran’s supreme leader Ayatollah Ali Khamenei warned at the weekend that Israel and the United States “will definitely receive a tooth-breaking response” to Israeli attacks on October 26.That strike was in response to an October 1 barrage of about 200 missiles against its rival.- Key figures around 1100 GMT -London – FTSE 100: UP 0.6 percent at 8,229.52 pointsParis – CAC 40: UP 0.4 percent at 7,434.89Frankfurt – DAX: UP 0.1 percent at 19,271.49Hong Kong – Hang Seng Index: UP 0.3 percent at 20,567.52 (close)Shanghai – Composite: UP 1.2 percent at 3,310.21 (close)Tokyo – Nikkei 225: Closed for a holidayNew York – Dow: UP 0.7 percent at 42,052.19 (close)Euro/dollar: UP at $1.0902 from $1.0833 on FridayPound/dollar: UP at $1.2964 from $1.2917Dollar/yen: DOWN at 151.82 yen from 153.01 yenEuro/pound: UP at 84.15 from 83.86 penceBrent North Sea Crude: UP 2.3 percent at $74.80 per barrelWest Texas Intermediate: UP 2.5 percent at $71.20 per barrel

Most markets rise ahead of US vote, China stimulus meeting

Most markets rose Monday as investors steel themselves for a too-close-to-call US presidential election, while Chinese leaders meet to hammer out a stimulus package that experts say could be determined by the vote.The gains came after a positive lead from Wall Street and data showing far fewer US jobs were created last month than expected, boosting hopes for a Federal Reserve interest rate cut when it gathers this week.With Democratic Vice President Kamala Harris and her Republican rival Donald Trump neck and neck ahead of Tuesday’s poll, traders are keeping a close eye on any hint of an advantage either way.The dollar slipped Monday as a fresh opinion poll in Iowa — which Trump won in 2016 and 2020 — showed Harris leading. A victory for Trump is seen as being positive for the dollar and pushing up Treasury yields owing to his pledges to cut taxes and impose hefty tariffs on imports.Elections for the Senate and House of Representatives are also being closely watched amid speculation the Republicans could take control of both.”It’s not just about who wins the presidency but also the composition of the House and Senate,” said Peter Esho, founder of Esho Capital.”If the Republicans sweep all three, that will open the door to significant fiscal changes, which is negative for bondholders and could spell higher yields until the dust settles.”The election comes days before the Fed is due to make its latest policy decision, with investors expecting 25-basis-point reduction after a bumper 50-point cut at its last gathering.The vote is of particular interest to China, where Beijing is this week meeting to hammer out an economic stimulus.The concrete measures are expected to be announced Friday, allowing time for officials to digest the result and make allowances for either.”We believe the US election results will have some impact on the size of Beijing’s stimulus package,” said Ting Lu, Nomura’s Chief China Economist, in a research note.Both candidates in the race have pledged to get tougher on Beijing, with Trump promising tariffs of 60 percent on all Chinese goods coming into the country.”We are expecting more details on the proposals to be passed,” said Heron Lim of Moody’s Analytics, including “how this extra funding would be allocated to address the near-term economic issues”.Nomura economists expect lawmakers this week to approve around a trillion yuan ($140 billion) in extra budget — mostly for indebted local governments.Observers also expect Beijing to approve a one-off one trillion yuan for banks, aimed at writing off non-performing loans over the past four years.Markets rose across Asia, with Shanghai up more than one percent, while Hong Kong, Sydney, Seoul, Singapore, Taipei, Wellington and Bangkok were also well up. Manila, Mumbai and Jakarta dropped.London opened higher but Paris and Frankfurt fell.Tokyo was closed for a holiday.Bitcoin was also down from the near record high hit Sunday as traders pared their bets on a win for Trump, who pledged during the campaign to make the United States “the world capital of bitcoin and cryptocurrencies”. The unit was sitting at $68,600 — still just shy of its all-time peak of 73,797.98 in March.Oil prices rallied around two percent after eight members of the OPEC+ group of producers said Sunday they would extend supply cuts until the end of next month.They had been delaying output hikes on worries about slowing demand in China and the United States.The commodity was also being supported by geopolitical tensions after Iran’s supreme leader Ayatollah Ali Khamenei warned at the weekend that Israel and the United States “will definitely receive a tooth-breaking response” to Israeli attacks on October 26.That strike was in response to an October 1 barrage of about 200 missiles against its rival.- Key figures around 0815 GMT -Hong Kong – Hang Seng Index: UP 0.3 percent at 20,567.52 (close)Shanghai – Composite: UP 1.2 percent at 3,310.21 (close)London – FTSE 100: UP 0.2 percent at 8,196.68Tokyo – Nikkei 225: Closed for a holidayEuro/dollar: UP at $1.0893 from $1.0833 on FridayPound/dollar: UP at $1.2986 from $1.2917Dollar/yen: DOWN at 152.01 yen from 153.01 yenEuro/pound: UP at 83.88 from 83.86 penceWest Texas Intermediate: UP 2.0 percent at $70.90 per barrelBrent North Sea Crude: UP 1.9 percent at $74.48 per barrelNew York – Dow: UP 0.7 percent at 42,052.19 (close)

China to hash out stimulus plan with US elections in its sights

China’s top lawmakers gathered Monday to hash out a major stimulus package that analysts say could grow even bigger if former US president Donald Trump wins the White House this week.Beijing has in recent months heeded calls to step up support for the economy after years of inaction, announcing a raft of measures including rate cuts and the easing of some home buying restrictions.But they have refrained from unveiling a figure for the long-awaited stimulus, disappointing investors after a market rally fizzled when officials repeatedly failed to commit to a top line.Analysts now hope this number could emerge from this week’s meeting of the Standing Committee of National People’s Congress, the top body of China’s rubber stamp parliament headed by number three official Zhao Leji.Nomura economists expect lawmakers this week to approve around one trillion yuan ($140 billion) in extra funds.The measures are expected to be announced when the meeting wraps up on Friday — in time for Beijing to take stock of results of presidential elections in the United States.Both candidates in the race have pledged to get tougher on Beijing, with Trump promising tariffs of 60 percent on all Chinese goods coming into the country.And Nomura economists expect Beijing to adjust the size of its stimulus depending on the outcome.”We believe the US election results will have some impact on the size of Beijing’s stimulus package,” said Ting Lu, Nomura’s chief China economist, in a research note.”In our view, the size of China’s fiscal stimulus package would be around 10 to 20 percent bigger under a Trump win than under the scenario of a (Kamala) Harris win,” Lu wrote.The standing committee reviews and approves all legislation, including allocating funds out of China’s budget.”We are expecting more details on (stimulus) proposals to be passed,” said Heron Lim of Moody’s Analytics.The session kicked off on Monday with discussion of laws on arbitration and science and technology, state news agency Xinhua said.Analysts also expect Beijing to approve a separate, one-off one trillion yuan for banks, aimed at writing off non-performing loans over the past four years.But Natixis economist Alicia Garcia Herrero cautioned that “a lot of money will go to cover losses”.”It’s not really a growth push,” she said.Yeap Jun Rong, an analyst at trading platform IG, agreed.”The measures appear to focus more on preventing further economic decline, rather than catalysing a stronger growth recovery,” he wrote.- ‘Major challenges’ -China is battling sluggish domestic consumption, a persistent crisis in the property sector and soaring government debt — all of which threaten Beijing’s official growth target of five percent for this year.”The major challenges for Beijing emanate from within rather than outside,” Nomura’s Lu said.The property sector was long a key driver of growth, but is now mired in a sea of debt.Average prices of new residential property ticked up slightly last month, according to a survey of 100 cities by independent researcher China Index Academy.But China’s cities and provinces are still on the hook for a trove of unfinished and unsold housing units, and repurchasing them could cost Beijing up to 3.3 trillion yuan, according to Natixis estimates.Prolonged housing woes continue to lead to weak consumer consumption, according to Lim of Moody’s Analytics.”The average Chinese consumer with existing mortgages does not feel their wealth is increasing,” he said.The issue of how local governments manage debt is also set to come under scrutiny at the NPC meeting this week.Authorities at and above the county level will be required to report their debt situation to the NPC each year, Huang Haihua, spokesman for the NPC standing committee’s legislative affairs commission, said at a briefing Friday.But China’s economic woes run deeper than local mismanagement and empty homes.”The overall economy is losing productivity out of basically misallocated savings,” said Garcia Herrero, referring to issues within China’s industrial policy spending, including extensive subsidies.”They need to really change all of that,” she said.

Asian markets rise ahead of US election, Chinese stimulus meeting

Asian markets rose Monday as investors steel themselves for a too-close-to-call US presidential election, while Chinese leaders meet to hammer out a stimulus package that experts say could be determined by the vote.The gains came after a positive lead from Wall Street and data showing far fewer US jobs were created last month than expected, boosting hopes for a Federal Reserve interest rate cut when it gathers this week.With Democratic Vice President Kamala Harris and her Republican rival Donald Trump neck and neck ahead of Tuesday’s poll, traders are keeping a close eye on any hint of an advantage either way.The dollar slipped Monday as a fresh opinion poll in Iowa — which Trump won in 2016 and 2020 — showed Harris leading. A victory for Trump is seen as being positive for the dollar and pushing up Treasury yields owing to his pledges to cut taxes and impose hefty tariffs on imports.Elections for the Senate and House of Representatives are also being closely watched amid speculation the Republicans could take control of both.”It’s not just about who wins the presidency but also the composition of the House and Senate,” said Peter Esho, founder of Esho Capital.”If the Republicans sweep all three, that will open the door to significant fiscal changes, which is negative for bondholders and could spell higher yields until the dust settles.”The election comes days before the Fed is due to make its latest policy decision, with investors expecting 25-basis-point reduction after a bumper 50-point cut at its last gathering.The vote is of particular interest to China, where Beijing is this week meeting to hammer out an economic stimulus.The concrete measures are expected to be announced Friday, allowing time for officials to digest the result and make allowances for either.”We believe the US election results will have some impact on the size of Beijing’s stimulus package,” said Ting Lu, Nomura’s Chief China Economist, in a research note.Both candidates in the race have pledged to get tougher on Beijing, with Trump promising tariffs of 60 percent on all Chinese goods coming into the country.”We are expecting more details on the proposals to be passed,” said Heron Lim of Moody’s Analytics, including “how this extra funding would be allocated to address the near-term economic issues”.Nomura economists expect lawmakers this week to approve around a trillion yuan ($140 billion) in extra budget — mostly for indebted local governments.Observers also expect Beijing to approve a one-off one trillion yuan for banks, aimed at writing off non-performing loans over the past four years.Markets rose across Asia, with Hong Kong and Shanghai among the best performers, while Sydney, Seoul, Singapore, Taipei, Wellington and Jakarta were also well up.Oil prices rose more than one percent after eight members of the OPEC+ group of producers said Sunday they would extend supply cuts until the end of next month.They had been delaying output hikes on worries about slowing demand in China and the United States.The commodity was also being supported by geopolitical tensions after Iran’s supreme leader Ayatollah Ali Khamenei warned at the weekend that Israel and the United States “will definitely receive a tooth-breaking response” to Israeli attacks on October 26.That strike was in response to an October 1 barrage of about 200 missiles against its rival.- Key figures around 0230 GMT -Hong Kong – Hang Seng Index: UP 0.2 percent at 20,546.35 Shanghai – Composite: UP 0.3 percent at 3,282.42Tokyo – Nikkei 225: Closed for a holidayEuro/dollar: UP at $1.0888 from $1.0833 on FridayPound/dollar: UP at $1.2975 from $1.2917Dollar/yen: DOWN at 151.79 yen from 153.01 yenEuro/pound: UP at 83.92 from 83.86 penceWest Texas Intermediate: UP 1.5 percent at $70.50 per barrelBrent North Sea Crude: UP 1.4 percent at $74.09 per barrelNew York – Dow: UP 0.7 percent at 42,052.19 (close)London – FTSE 100: UP 0.8 percent at 8,177.15 (close)

Fading literature: Delhi’s famed Urdu Bazaar on last legs

In the bustling heart of Old Delhi, Indian bookseller Mohammed Mahfooz Alam sits forlorn in his quiet store, among the last few selling literature in a language beloved by poets for centuries.Urdu, spoken by many millions today, has a rich past that reflects how cultures melded to forge India’s complex history.But its literature has been subsumed by the cultural domination of Hindi, struggling against false perceptions that its elegant Perso-Arabic script makes it a foreign import and a language of Muslims in the Hindu-majority nation.”There was a time when, in a year, we would see 100 books being published,” said 52-year-old Alam, lamenting the loss of the language and its readership.The narrow streets of Urdu Bazaar, in the shadow of the 400-year-old Jama Masjid mosque, were once the core of the city’s Urdu literary community, a centre of printing, publishing and writing.Today, streets once crowded with Urdu bookstores abuzz with scholars debating literature are now thick with the aroma of sizzling kebabs from the restaurants that have replaced them.Only half a dozen bookstores are left.”Now, there are no takers,” Alam said, waving at the streets outside. “It is now a food market.”- Dying ‘day by day’ -Urdu, one of the 22 languages enshrined under India’s constitution, is the mother tongue of at least 50 million people in the world’s most populous country. Millions more speak it, as well as in neighbouring Pakistan.But while Urdu is largely understood by speakers of India’s most popular language Hindi, their scripts are entirely different.Alam says he can see Urdu literature dying “day by day”.The Maktaba Jamia bookshop he manages opened a century ago. Alam took over its running this year driven by his love for the language.”I have been sitting since morning, and barely four people have come,” he said gloomily. “And even those were college or school-going children who want their study books.”Urdu, sharing Hindi’s roots and mingled with words from Persian and Arabic, emerged as a hybrid speech between those who came to India through trade and conquest — and the people they settled down amongst.But Urdu has faced challenges in being viewed as connected to Islamic culture, a popular perception that has grown since the Hindu-nationalist Bharatiya Janata Party (BJP) of Prime Minister Narendra Modi took power in 2014.Hard-right Hindu nationalists seeking to diminish Islam’s place in India’s history have opposed its use: in the past decade, protests have ranged from the use of Urdu in clothing advertisements to even graffiti.”Urdu has been associated with Muslims, and that has hit the language too,” said Alam.”But it is not true. Everyone speaks Urdu. You go to villages, people speak Urdu. It is a very sweet language. There is peace in it.”- ‘Feel the beauty’ -For centuries, Urdu was a key language of governance.Sellers first set up stores in the Urdu Bazaar in the 1920s, selling stacks of books from literature to religion, politics and history — as well as texts in Arabic and Persian.By the 1980s, more lucrative fast-food restaurants slowly moved in, but the trade dropped dramatically in the past decade, with more than a dozen bookshops shutting down.”With the advent of the internet, everything became easily available on the mobile phone,” said Sikander Mirza Changezi, who co-founded a library to promote Urdu in Old Delhi in 1993.”People started thinking buying books is useless, and this hit the income of booksellers and publishers, and they switched to other businesses.”The Hazrat Shah Waliullah Public Library, which Changezi helped create, houses thousands of books including rare manuscripts and dictionaries.It is aimed at promoting the Urdu language.Student Adeeba Tanveer, 27, who has a masters degree in Urdu, said the library provided a space for those wanting to learn.”The love for Urdu is slowly coming back,” Tanveer told AFP, adding that her non-Muslim friends were also keen to learn.”It is such a beautiful language,” she said. “You feel the beauty when you speak it.”

Famed Indian designer Rohit Bal dies: fashion group

Rohit Bal, one of India’s most acclaimed fashion designers, has died, his colleagues said Friday.Media reports said he died at the age of 63 after a long illness.”We mourn the passing of legendary designer Rohit Bal,” the Fashion Design Council of India (FDCI) said in a statement on Instagram.”Known for his unique blend of traditional patterns with modern sensibilities, Bal’s work redefined Indian fashion, and inspired generations.”According to his website, Bal graduated from St. Stephen’s College in New Delhi with a degree in history.He then worked in his family’s export business for a few years before launching his label and designer line in 1990.In his work Bal”draws from influences, wide and varied,” says a promotional statement on his site.”From the village crafts and traditional methods of design that India is so rich in, to the transient phenomenon of the subcontinent’s urban landscape, the designer brings them all to life.”FDCI chairman Sunil Sethi said on Instagram that the passing of Pal, popularly called Gudda, “will leave a void in the fashion design space forever.””Everyone admired him for his attention to detail, how beautifully his lotus bloomed on modern shapes and his understanding of what modern women desired,” Sethi said.

The Japanese airport that says it never loses a bag

Kansai International Airport in Japan can’t be held responsible for the less superlative performance of airlines or other stops on a traveller’s journey, but it claims its handlers never lose a bag.In 30 years of operation, the airport serving the region around Osaka and Kyoto says it has never lost a suitcase, a set of golf clubs, a stroller or anything in fact — a feat its employees humbly shrug off as nothing special.”We just follow the work processes and rules and do what we have to do,” Tsuyoshi Habuta, supervisor at CKTS, one of the handling companies at Kansai, told AFP.There is no “special training” but Habuta and his teams handle more than 3,000 pieces of luggage every day with attention to detail.”We carefully handle suitcases to avoid shocks. Suitcase handles are aligned in a direction that is easy for customers to pick up,” Habuta said.”We hand fragile items, strollers, surfboards and skis directly to passengers,” he said.Luggage is on the carousel inside in the terminal building “within 15 minutes of the aircraft’s arrival to minimise stress of customers,” he added.One of Japan’s busiest international airports, Kansai was ranked the World’s Best Airport for Baggage Delivery by UK-based airport rating organisation SKYTRAX in April.”Everyone at the Kansai Airport is proud of this,” co-CEO of the airport Benoit Rulleau told AFP.Rulleau acknowledged that it is easier to achieve zero lost bags at an airport such as Kansai, which serves relatively few connecting passengers.But he said the achievement reflects the “incredible devotion” of the airport’s staff. The number of lost or delayed bags has sharply decreased globally in the past decade thanks to technology, said Nicole Hogg, baggage portfolio director at SITA, a Geneve-based IT services provider in the air transport industry.”If you think about the passenger volumes that we have, 6.9 bags being mishandled (per 1,000 passengers) is a very low figure,” Hogg told AFP.”A decade ago, we were in double figures,” she said, adding “the industry investing in technology is definitely paying off.”She explained that baggage is rarely mishandled when passengers have no connections.”The complexity really comes in the transfer process where passengers have short connection times and they’re trying to get from one flight to another,” she said.Kansai recently returned to its pre-pandemic level of 25 million international passengers a year.Ahead of the Osaka Expo 2025 it has gone through a renovation with a new security checkpoint that allows for an even smoother experience.Rulleau said the airport will be able to accommodate up to 40 million passengers a year — and probably none of them will lose their bag.