An additional 3 billion Asians could enjoy higher living standards, but only if Asia sustains its present growth momentum and addresses the challenges and risks facing the region, the Asian Development Bank (ADB) said in a new report on Wednesday. The draft report says that as the global economy's center of gravity shifts toward Asia, the region could account for about half of global output in 2050, up from the...

An annual meeting of Asian finance ministers and central bank governors in Hanoi is set to address the fate of 64 million people in the region on the brink of extreme poverty. They are the worst affected by soaring food prices, which have hit record highs in the first two months of this year. "The issue of food price inflation and food security will indeed be one of the key topics...

Resurgent global food prices, which averaged 10 per cent in many economies and posted record increases in the first two months of this year, may push nearly 30 million Indians and 64 million people in the Asian region into extreme poverty, the Asian Development Bank (ADB) said on Tuesday. In a report titled “Global Food Price Inflation and Developing Asia,” the Manila-based bank warned that a 10 per cent rise in...

Poor families may find it tough to pay for medical care, children's education “Recent gains in poverty reduction made in Asia will be undermined” Resurgent global food prices, which averaged 10 per cent in many economies and posted record increases in the first two months of 2011, may push nearly 30 million Indians and 64 million people in the Asian region into extreme poverty, the Asian Development Bank (ADB) said on Tuesday. In...

Resurgent food prices, which rose by 10% on average in many regional economies in Asia this year, can push an additional 64 million people into extreme poverty, an Asian Development Bank (ADB) report says. The study, titled, 'Global Food Price Inflation and Developing Asia', by the multilateral lending agency, finds that a 10% rise in domestic food prices could push an additional 64 million people, out of 3.3 billion people living...