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The Latest Breaking News from Asia

Biden Administration To Inject $150M To Reactivate South Asian Alliances To Counter China: FT

To boost economic engagement in Southeast Asian countries, the Biden administration will invest $150 million in the region as part of its strategy to counter China, Financial Times Reports. The new package comes seven months after Biden promised Asean leaders that he would provide up to $102 million in investments for countries in Southeast Asia. …

Benzinga

HSBC pressed to spin off Asian business

HSBC Holdings Plc has begun an internal review in the face of pressure from its largest shareholder to discuss splitting off the bank's Asian operations.

Bangkok Post

Bitcoin Set for Record Losing Streak as ‘Stablecoin’ Collapse Crushes Crypto

Cryptocurrencies nursed large losses on Friday, with bitcoin trading near $30,000 and set for a record losing streak as the collapse of TerraUSD, a so-called stablecoin, rippled through markets. Crypto assets have also been swept up in broad selling of risky investments on worries about high inflation and rising interest…

Asharq Al-Awsat

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Biden Welcomes Southeast Asian Leaders with Energy, Maritime Pledges

President Joe Biden on Thursday welcomed Southeast Asian leaders to Washington with promises to support clean energy and maritime security, hoping to showcase a US commitment as China makes wide inroads. Top leaders from eight of the 10 members of the Association of Southeast Asian Nations (ASEAN) flew to Washington…

Asharq Al-Awsat

Biden looks to nudge ASEAN leaders to speak out on Russia

Despite Washington's focus on the war in Ukraine, the White House is trying to demonstrate that it is stepping up in the Asia-Pacific.

WEKU

North Korea Reports COVID-19 Cases Surging To 350,000 From 1 In Single Day Ahead Of Biden Asia Visit

At least six people have died due to COVID-19, and more than 350,000 are infected in North Korea as an "explosive" coronavirus outbreak takes a toll on the isolated nation, the country's state media KCNA confirmed, according to CNN.

Benzinga

Biden looks to nudge ASEAN leaders to speak out on Russia

President Joe Biden is looking to nudge southeast Asian leaders to be more outspoken about Russia’s invasion of Ukraine

The Independent UK

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AP Week in Pictures: Asia

May 6-12, 2022

The Independent UK

Sources: Hyundai to set $7B US plant during Biden Asia visit

A U.S. official familiar with the project says South Korean automaker Hyundai Motor Group is expected to announce its plans next week to build a massive electric vehicle plant near Savannah, Georgia

The Independent UK

America, Asean in geostrategic drift

As Southeast Asia's renowned regional bloc, Asean has been wanting to have its cake as well as eat it. Its summit meeting with the United States in Washington this week is a testimony to trying to have it both ways. When Washington cares less about Asean, the nominally 10-member grouping…

Bangkok Post

U.S. President considering Korea DMZ visit when traveling to Asia this month

U.S. President Joe Biden is considering a trip to the Korean Demilitarized Zone when he visits Asia later this month, White House press secretary Jen Psaki said on Thursday.

Reuters

Malaysian leader urges U.S. to adopt more active ASEAN trade agenda

Malaysian Prime Minister Ismail Sabri Yaakob on Thursday urged the United States to adopt a more active trade and investment agenda with the Association of Southeast Asian Nations (ASEAN), saying this would benefit Washington economically and strategically.

Reuters

7 Walt Disney Analysts React To Q2 Earnings Miss, Subscriber Beat, Ongoing Asia Weakness

Walt Disney Co (NYSE: DIS) shares traded lower by 3.7% on Thursday after the company reported first-quarter earnings and said ongoing COVID-19 disruptions are weighing on its Asia theme park business.

Benzinga

To circumvent Ukraine and bottlenecks, a controversial new trade route emerges: Iran

Exclusive: Despite US sanctions, transportation industry insiders see the Islamic Republic as key land route for moving goods across Eurasia

The Independent UK

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Motorsport

Intercontinental GT Challenge set to expand to five 2023 rounds

The Intercontinental GT Challenge is set to expand back to five races next season with the likely return of Suzuka as the Asian date.

Autosport

Intercontinental GT Challenge set to expand to five rounds in 2023

The Intercontinental GT Challenge is set to expand back to five races next season with the likely return of Suzuka as the Asian date.

Asharq Al-Awsat

EU's Von Der Leyen: Russia 'Most Direct Threat to World Order'

Top European officials warned Thursday that Russia poses the "most direct threat" to world order and urged China to play a more constructive role on the international stage as they held talks in Tokyo. European Commission President Ursula von der Leyen and European Council President Charles Michel are in Japan…

The Independent UK

Asian shares track technology-led sell-off on Wall Street

Shares have declined in Asia following the release of U.S. inflation data that was worse than expected

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The Independent UK

Biden hosts ASEAN as he looks to show Pacific commitment

President Joe Biden is hosting leaders from the Association of Southeast Asian Nations as his administration continues an effort to demonstrate that the United States hasn’t lost focus on the Pacific

Bangkok Post

Goldman predicts Thai interest rate hike in Sept

Hawkish expectations in Asia’s emerging markets are piling up as traders become increasingly convinced that central banks in the region cannot ignore the threat of domestic inflation any longer.

Reuters

U.S. wants ASEAN leaders to play bigger role in Myanmar diplomacy - official

The United States wants Southeast Asian leaders to play a "more deeply engaged role" in efforts to put Myanmar back on a democratic track after a coup last year, the top U.S. official for Asia said on Wednesday ahead of President Joe Biden's meeting with leaders from the region this…

Asharq Al-Awsat

Biden Seeks to Keep China in Focus by Welcoming ASEAN Leaders

President Joe Biden will host Southeast Asian leaders in Washington this week, seeking to show his administration remains focused on the Indo-Pacific and the long-term challenge of China despite the Ukraine crisis. A two-day summit with the 10-nation Association of Southeast Asian Nations (ASEAN) begins with a White House dinner…

Reuters

U.S. sees early 'challenges' dealing with new Philippines administration

The United States is seeking early engagement with the newly elected administration of Ferdinand Marcos Jr. in the Philippines, although historical considerations mean there will probably be some initial challenges, the chief U.S. policy maker for Asia said on Wednesday.

Reuters

Hong Kong police bail Catholic cardinal arrested on national security charge

Cardinal Joseph Zen, one of the most senior Catholic clerics in Asia, and three others who helped run a now-disbanded Hong Kong fund for protesters were arrested on charges of "collusion with foreign forces," and later released on bail.

Caixin Global

Opinion: How Singapore Could Outperform Shanghai, Hong Kong to Become Asia’s Financial Center

The country has benefited from China-U.S. tensions and a successful response to Covid-19

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