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The Latest Breaking News from Asia

Elon Musk Could Learn a Thing or Two From Bernard Arnault

Luxury conglomerate LVMH reported Q1 2023 results on April 12. You would hardly know from its results that there was a possible recession around the corner. Iconic companies tend to be like that.

Barchart

Asian rebound helps push LVMH first quarter revenue beyond €20 billion

The world’s richest man Bernard Arnault is set to benefit from the jump in sales

Evening Standard

Philippines, U.S. begin joint troop exercises amid regional tensions

More than 17,000 Philippine and U.S. soldiers began their largest ever joint military drills on Tuesday, as ties between the long-term allies warm over shared concerns about China's assertiveness in the Asia-Pacific region.

Reuters

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Asian shares mostly higher after mixed day on Wall Street

Stocks are mostly higher in Asia after a mixed session on Wall Street

The Independent UK

Saudi Arabia to Supply Full Crude Contract Volumes to Asia

Several informed sources said that the giant Saudi Aramco plans to supply full crude contract volumes loading in May to several North Asian buyers despite its pledge to cut output by 500,000 barrels per day, Reuters reported. This comes after the Organization of the Petroleum Exporting Countries (OPEC) and the…

Asharq Al-Awsat

World famous festival comes to Pattaya

The Rolling Loud rap and hip-hop festival will bring a star-studded line-up for its first-ever event in Asia, Rolling Loud Thailand, which will take place at Legend Siam in Pattaya, Chon Buri, from Thursday to Saturday, starting at 4pm.

Bangkok Post

Predicted 0.08% boost from UK-Asia trade deal could be overestimate

Trade department used different approach to estimating economic boost which ‘generates larger estimated GDP impacts’

The Independent UK

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Asian shares higher after report shows resilience in US jobs

Shares are mostly higher in Asia after a report showed resilience in the U.S. jobs market

The Independent UK

OECD predicts SE Asian growth to decline

Economic growth in Southeast Asia is forecast to drop from 5.6% in 2022 to 4.6% this year, pressured by weaker demand as the global economy slows, says the Organisation for Economic Co-operation and Development (OECD).

Bangkok Post

Son Heung-min hopes he can inspire more Asian players to pursue dreams

Son’s landmark goal was one of many celebrations in the Tottenham camp after the birth of Ryan Mason’s son.

The Independent UK

"I feel like I've found myself again" - The former Manchester United youngster smiling again after going through hell

"I fell out of love with the game for about two years and was in a dark place. I didn't know where I wanted to be, or if I wanted to play football again... I felt like there was no one I could turn to."

Manchester Evening News

Why Abe's new Asian order is now emerging

By building up the notion of the Indo-Pacific as a critical region, Shinzo Abe, the late Japanese prime minister, created a strategic framework that presaged the geopolitical and economic integration now taking place across Asia and parts of Africa. As South Asian and Middle Eastern countries merge into West Asia,…

Bangkok Post

OnePlus Nord N30 tipped for US launch with very impressive specs

After announcing the OnePlus Nord CE 3 Lite for Europe and Asia this week, OnePlus could be looking to bring this budget phone to the U.S. as the OnePlus Nord N30. If so, it means a low-cost phone with a 108MP camera and 67W charging.

Tom’s Guide

SCBAM prescribes global, investment-grade bonds

SCB Asset Management (SCBAM) recommends investors allocate funds to global and high-investment-grade bonds that enable them to buy Asian and US tech stocks amid ongoing global headwinds and a potential recession.

Bangkok Post

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The Independent UK

AP Week in Pictures: Asia

March 31-April 6, 2023

Bangkok Post

Region told to rev up decarbonisation

Southeast Asia needs to accelerate decarbonisation of its global value chains (GVCs) as the region could face up to a 30% loss of GDP annually by 2100 due to climate change, according to the Asian Development Bank (ADB).

Caixin Global

Malaysia Highlights Potential of Islamic Finance Market as It Woos Hong Kong

Malaysia would like to ‘leverage’ the city’s position as a global financial center to ‘channel global capital’ into the Southeast Asian country, trade minister says

Reuters

Exclusive-China plans $500 million subsea internet cable to rival U.S.-backed project

Chinese state-owned telecom firms are developing a $500 million undersea fiber-optic internet cable network that would link Asia, the Middle East and Europe to rival a similar U.S.-backed project, four people involved in the deal told Reuters. The plan is a sign that an intensifying tech war between Beijing and…

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Asharq Al-Awsat

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…

Bangkok Post

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.

Tribune News Service

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.

The Week

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 Independent UK

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

Bangkok Post

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).

Asharq Al-Awsat

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…

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