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The Latest Breaking News from Asia

Saudi Arabia Raises Arab Light Crude Prices for Asia for 3rd Month

Saudi Arabia, the world's top oil exporter, has raised the prices of its flagship crude for Asian buyers for the third straight month, informed sources said. The official selling price (OSP) for May-loading Arab Light to Asia was raised by 30 cents a barrel from April to $2.80 a barrel…

Asharq Al-Awsat

Prime Road targets 1,800MW renewable power by 2027

SET-listed Prime Road Power, an operator of solar farms and provider of solar panel installation services, aims to increase its renewable power generation capacity to 1,800 megawatts by 2027, up from 304MW, thanks to campaigns for fossil fuel reduction to fight global warming across Asia-Pacific.

Bangkok Post

Saudi Arabia hikes oil prices to Asia after OPEC+ shock cuts

Saudi Arabia hiked official selling prices for all of its oil sales to Asian customers in May, days after the kingdom led a surprise OPEC+ output cut.

Tribune News Service

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CPTPP: is trade deal first sign of Brexit’s sunlit uplands?

The Government struck a deal to join an 11-member Asia-Pacific trade bloc last week, a step hailed by No. 10 as an example of Britain seizing its “post-Brexit freedoms”.

The Week

Youngkin to meet with Taiwan's leader during trade mission

Republican Virginia Gov. Glenn Youngkin will lead his first international trade mission later this month, a trip to Asia that will include a meeting with the president of Taiwan

The Independent UK

ADB gauges 2023 growth rate at 3.3%

Thailand's economic growth is projected at 3.3% this year and 3.7% in 2024 as a recovery in tourism and private consumption help offset a slowdown in exports, according to the Asian Development Bank (ADB).

Bangkok Post

Russia to Use Dubai Benchmark in Indian Oil Deal

Russia's largest oil producer Rosneft and India's top refiner Indian Oil Corp agreed to use the Dubai oil price benchmark in their latest deal to deliver Russian oil to India, three sources familiar with the matter said. The decision by the two state-controlled companies to abandon the Europe-dominated Brent benchmark…

Asharq Al-Awsat

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Asian shares mixed as surging oil prices fan inflation fears

Shares are mostly higher in Asia as investors watch for the latest moves by central banks

The Independent UK

Asia set for strong growth after China’s opening, ADB says

Manila-based development bank estimates region will grow by 4.8 percent in 2023 and 2024, up from 4.2 percent last year.

Al Jazeera

ADB forecasts China, India to power strong growth in '23

The Asian Development Bank says China's recovery from the pandemic and strong demand in India will drive strong economic growth in Asia this year

The Independent UK

Rethinking public debt as a positive

The unprecedented fiscal firepower used to protect the vulnerable from the harsh socio-economic impact of the Covid-19 pandemic and the resulting economic contraction have pushed the average government debt level in the Asia-Pacific region to its highest since 2008.

Bangkok Post

Eastspring looks to China, Asia and US

Eastspring Asset Management (Thailand) is to prioritise its investments in China, the rest of Asia and the US in the second quarter, with a focus on tech and high-growth stocks that would continue the growth from the first quarter.

Bangkok Post

Oil prices soar on producer output cuts; Asian shares mixed

Oil prices have soared more than 5% after Saudi Arabia and other major oil producers said they will cut production by 1.15 million barrels per day from May until the end of the year

The Independent UK

Asia’s prices are on rise. In the Philippines, they’re soaring

Southeast Asia’s fourth-largest economy sees inflation hit 8.6 percent, far above Thailand, Indonesia and Vietnam.

Al Jazeera

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Bangkok Post

Fun for all at Thailand Toy Expo

Exclusive editions of toys from leading brands across America, Europe and Asia take centre stage during the 11th Thailand Toy Expo, which will be held at CentralWorld, Ratchadamri Road, Thursday to Sunday from 10am to 10pm.

Bangkok Post

China ready to speed up talks with Asean over South China Sea

China is ready to work with Malaysia and other Southeast Asian nations to speed up consultation for a South China Sea code of conduct, Xinhua reported, citing Premier Li Qiang.

Bangkok Post

Disney Cruise Line makes Singapore its first home port in Asia

Singapore's tourism board and a Walt Disney Co subsidiary have agreed to make the Southeast Asian country the first Asian homeport for one of the company's cruise ships.

The Guardian - AU

‘I couldn’t escape’: the people trafficked into call centres and forced to scam Australians

Thousands are trapped into slavery across Asia – but, with the conviction of three traffickers in Indonesia, the tide may be turning

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Fortune

The World Bank warns that the U.S.—China rift could hurt Asia's growth and 'the global availability of knowledge'

A prolonged U.S.-China trade war will impact investment in Asia, but the reopening of China will boost regional economies for now, World Bank said.

The National (Scotland)

'Significant concerns' over UK's Asia-Pacific trade deal, says Scottish Government

THE Scottish Government has said it has “serious concerns” after the UK’s Asia-Pacific trade deal was confirmed.

Asharq Al-Awsat

World Bank Says Recoveries in Asian Economies Losing Steam

Developing economies in Asia have mostly regained ground lost during the pandemic but are seeing their recoveries stall as productivity lags, the World Bank said in a report released Friday. The report forecasts that growth in the region including China will pick up pace this year after the world's No.…

The News Lens

Paying for a New Thai Democracy

The real winners are far from clear, but Thailand’s populist, party jumping election is Asia’s vote to watch this year.

The Guardian - UK

Kemi Badenoch casts doubt on growth projections for Asia-Pacific trade deal

Comments threaten to worsen already tense relationship between senior ministers and civil servants

Reuters

China's overtures to foreign firms fall on familiar ears at 'Asia's Davos'

'China is open for business' was the message its newly-appointed Premier Li Qiang delivered this week to the Boao Forum, an international summit sometimes touted as Asia's answer to the World Economic Forum's meetings in Davos.

The Guardian - UK

Rishi Sunak sidesteps question about whether having private swimming pool means he’s out of touch – as it happened

PM also refused to say what he would do if inquiry into Dominic Raab found justice secretary bullied officials

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