https://www.scmp.com/rss/19471/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Martin Brownbridge,Sudharshan Canagarajah Martin Brownbridge,Sudharshan Canagarajah The war in the Gulf has hit Asian economies hard. The shock to global energy supplies is driving up fuel prices, threatening energy shortages and has the potential to cause economic stagnation and inflation. In response, governments across the region have been implementing emergency policy measures to shield their citizens from rising prices and job losses and to maintain economic growth. Vietnam has temporarily suspended some fuel taxes, while the Philippines has declared a state of national... https://www.scmp.com/opinion/asia-opinion/article/3349259/hormuz-crisis-chance-spur-asias-shift-clean-secure-energy?utm_source=rss_feed https://www.scmp.com/opinion/asia-opinion/article/3349259/hormuz-crisis-chance-spur-asias-shift-clean-secure-energy?utm_source=rss_feed Sat, 11 Apr 2026 21:30:09 +0000 Maria Siow Maria Siow Japan’s energy security has long hinged on Middle Eastern oil. The Iran war simply exposed how breakable that lifeline had become. While a two-week ceasefire agreed on Tuesday promises some relief by reopening the Strait of Hormuz to tanker traffic, analysts say the shock has laid bare vulnerabilities Tokyo cannot easily paper over. As an archipelago nation with no cross-border pipelines, Japan draws more than 95 per cent of its crude from the Middle East and routes the bulk of it through the... https://www.scmp.com/week-asia/politics/article/3349679/japans-middle-east-oil-habit-gets-iran-war-reality-check?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3349679/japans-middle-east-oil-habit-gets-iran-war-reality-check?utm_source=rss_feed Sat, 11 Apr 2026 00:00:18 +0000 SCMP Editorial SCMP Editorial In a rare and speedy move, the Hong Kong government is pressing ahead with diesel subsidies and toll cuts for the commercial transport sector as the global oil crisis escalates. The short-term measures are timely, targeted and reasonable. They are exactly what the industries need as they grapple with soaring fuel prices fuelled by conflict in the Middle East. The two-month HK$3 (US$0.38) per litre diesel subsidies for public and commercial vehicles, vessels and related industries as well as... https://www.scmp.com/opinion/comment/article/3349641/hong-kongs-rare-speedy-response-fuel-price-surge-shows-preparedness?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3349641/hong-kongs-rare-speedy-response-fuel-price-surge-shows-preparedness?utm_source=rss_feed Fri, 10 Apr 2026 22:45:08 +0000 Teresa Elena Frontado,Igor Patrick Teresa Elena Frontado,Igor Patrick China and Russia expressed support for Cuba’s embattled government amid mounting pressure from the United States, as Moscow’s deputy foreign minister concluded a visit to Havana and Beijing signalled its willingness to step up diplomatic backing for the island. “China is willing to work with the international community to firmly support Cuba in safeguarding its national sovereignty and security, and opposing external interference,” foreign ministry spokesperson Mao Ning said on Friday. “The US... https://www.scmp.com/news/china/article/3349715/china-russia-rally-behind-cuba-us-squeezes-havana-deepening-crisis?utm_source=rss_feed https://www.scmp.com/news/china/article/3349715/china-russia-rally-behind-cuba-us-squeezes-havana-deepening-crisis?utm_source=rss_feed Fri, 10 Apr 2026 20:30:44 +0000 Kolette Lim Kolette Lim Singapore and Australia pledged on Friday to keep fuel and gas flowing between them as the Middle East conflict rattled global energy markets, with both sides also working towards a legally binding agreement on essential supplies. At a joint press conference in Singapore, Australian Prime Minister Anthony Albanese said Canberra stood ready to supply more liquefied natural gas (LNG) if the city state needed it, while Albanese’s Singaporean counterpart Lawrence Wong said his government would... https://www.scmp.com/week-asia/economics/article/3349689/singapore-australia-vow-uninterrupted-fuel-supply-amid-global-energy-shock?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3349689/singapore-australia-vow-uninterrupted-fuel-supply-amid-global-energy-shock?utm_source=rss_feed Fri, 10 Apr 2026 12:40:41 +0000 Ushar Daniele Ushar Daniele Iran’s threat to impose tolls on vessels passing through the Strait of Hormuz is stirring concern far beyond the Gulf, sharpening fears that one of the world’s most important maritime chokepoints could be used as political leverage rather than governed by international rules. The concern is especially acute in Asia, which remains heavily reliant on Middle East energy supplies and exposed to any disruption in the waterway, through which nearly a fifth of the world’s oil passes. Analysts warn that... https://www.scmp.com/week-asia/economics/article/3349686/irans-hormuz-toll-threat-lays-bare-asias-energy-vulnerability?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3349686/irans-hormuz-toll-threat-lays-bare-asias-energy-vulnerability?utm_source=rss_feed Fri, 10 Apr 2026 12:23:36 +0000 Ng Kang-chung,Lam Ka-sing Ng Kang-chung,Lam Ka-sing Hong Kong will directly pay diesel subsidies to local oil companies based on sales volume after lawmakers approved a massive HK$1.8 billion government scheme to ease rocketing fuel prices for the transport sector over the next two months. The city’s environment minister maintained that a mechanism would be in place so the government could “know” and “monitor” if the oil companies tried to abuse the scheme by increasing prices, but did not say how. Senior government officials briefed lawmakers at... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349614/hong-kong-government-must-guard-against-exploitation-diesel-subsidy-experts-warn?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349614/hong-kong-government-must-guard-against-exploitation-diesel-subsidy-experts-warn?utm_source=rss_feed Fri, 10 Apr 2026 05:16:09 +0000 Bloomberg,Reuters Bloomberg,Reuters Economic growth across Asia is likely to slow even if oil prices stabilise in the coming months, as the impact of war in the Middle East ripples through industries from manufacturing to tourism, according to the Asian Development Bank. The US and Israeli war on Iran is projected to halt developing Asia’s economic upswing, with the region’s gross domestic product expansion seen moderating to 5.1 per cent this year from 5.4 per cent in 2025, the ADB said in its outlook report on... https://www.scmp.com/news/asia/southeast-asia/article/3349591/asian-economies-face-formidable-test-middle-east-conflict-drags-adb?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3349591/asian-economies-face-formidable-test-middle-east-conflict-drags-adb?utm_source=rss_feed Fri, 10 Apr 2026 02:32:16 +0000 Lam Ka-sing Lam Ka-sing Hong Kong bus company boss Martin Lau feels overwhelmed as he attempts every option possible to minimise mounting losses wrought by runaway fuel prices. He has done everything he can think of, from trying to reduce services to doing his own repairs on his fleet of more than 20 coaches. Lau, managing director of ABC Touring Car Company, told the South China Morning Post that he and his team had no choice for now but to absorb the losses as there was no help he could access. “The reality is cruel,... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349564/oil-crisis-just-start-economic-pain-hongkongers?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349564/oil-crisis-just-start-economic-pain-hongkongers?utm_source=rss_feed Fri, 10 Apr 2026 00:30:09 +0000 Juan Pablo Sims,Brice Tseen Fu Lee Juan Pablo Sims,Brice Tseen Fu Lee The Iran war has been framed as a Middle East crisis with global energy consequences. That is true, but incomplete. It is also reshaping China’s strategic map. The disruption in the Strait of Hormuz, the jump in oil prices and the shock to shipping and energy markets have reinforced a lesson for Beijing: vulnerability begins with concentration. When one region becomes more unstable, the value of diversified suppliers, routes and external partners rises. That is why Latin America matters more to... https://www.scmp.com/opinion/china-opinion/article/3349271/middle-east-crisis-pushing-china-deepen-latin-america-ties?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3349271/middle-east-crisis-pushing-china-deepen-latin-america-ties?utm_source=rss_feed Thu, 09 Apr 2026 21:30:08 +0000 He Huifeng He Huifeng While the world remains divided over the unresolved issue of toll collection in the Strait of Hormuz, some Chinese experts have proposed pegging fees to oil prices or using exportable digital tokens from China for settlements. If tolls were to be imposed in this strategic chokepoint for global energy trade, settlement mechanisms could be “innovative”, said Wang Yiwei, director of the Institute of International Affairs at Renmin University. “Tolls and settlements could be tied to oil prices or... https://www.scmp.com/economy/global-economy/article/3349545/hormuz-toll-debate-china-experts-propose-innovative-solutions-impasse-persists?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3349545/hormuz-toll-debate-china-experts-propose-innovative-solutions-impasse-persists?utm_source=rss_feed Thu, 09 Apr 2026 15:00:11 +0000 Marco Vicenzino Marco Vicenzino The two-week ceasefire between the United States and Iran is a real diplomatic breakthrough. It has reopened the Strait of Hormuz, triggered a relief rally in global markets and eased the immediate fear of a spiralling energy shock. But its strategic significance lies less in the relief it has produced than in the uncertainty it leaves behind. The truce is time-limited, tied to negotiations and built around temporary safe passage rather than a settled regional order. The ceasefire terms and... https://www.scmp.com/opinion/asia-opinion/article/3349425/asia-us-iran-ceasefire-offers-little-relief-and-much-uncertainty?utm_source=rss_feed https://www.scmp.com/opinion/asia-opinion/article/3349425/asia-us-iran-ceasefire-offers-little-relief-and-much-uncertainty?utm_source=rss_feed Thu, 09 Apr 2026 14:30:10 +0000 Daniel Ren Daniel Ren China’s leading battery makers have unveiled plans to add more than 600 gigawatt-hours (GWh) of new production capacity for the energy storage system (ESS) market in just the first two months of 2026, underscoring surging global demand for renewable energy infrastructure. The planned facilities – spanning major players from Contemporary Amperex Technology Ltd (CATL) to Gotion High-tech – amount to roughly 10 times the 58GWh of total capacity installed across the US in 2025. According to the GGII... https://www.scmp.com/business/china-business/article/3349550/china-throws-switch-battery-buildout-equal-10-times-us-capacity-2025?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3349550/china-throws-switch-battery-buildout-equal-10-times-us-capacity-2025?utm_source=rss_feed Thu, 09 Apr 2026 12:40:44 +0000 Zhang Shidong Zhang Shidong Contemporary Amperex Technology Ltd, or CATL, plans to buy a 45 per cent stake in the parent of a Shenzhen-listed renewable-energy company, as the world’s biggest maker of lithium-ion batteries for electric vehicles seeks to expand its investments in green energy amid the global oil shock. CATL signed a framework agreement with two shareholders of Hangzhou Zhonhen Technology Investment on Wednesday, agreeing to pay 4.09 billion yuan (US$598.5 million) for the deal, Hangzhou Zhonhen Electric, the... https://www.scmp.com/business/china-business/article/3349465/catl-buys-45-stake-hangzhou-green-energy-company-us598-million?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3349465/catl-buys-45-stake-hangzhou-green-energy-company-us598-million?utm_source=rss_feed Thu, 09 Apr 2026 07:05:49 +0000 Bloomberg Bloomberg Russia is seeking to leverage a global natural gas supply crunch to lure energy-starved South Asia into purchasing shipments from its US-sanctioned facilities, according to people familiar with the matter. The shipments were being offered at a 40 per cent discount to spot prices last week via little-known intermediary companies based in China and Russia, said the people, who asked not to be named as they were not authorised to speak to the media. The sellers said that they could provide... https://www.scmp.com/news/asia/south-asia/article/3349479/russia-tempts-energy-starved-south-asia-40-discounts-us-sanctioned-lng?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3349479/russia-tempts-energy-starved-south-asia-40-discounts-us-sanctioned-lng?utm_source=rss_feed Thu, 09 Apr 2026 05:37:09 +0000 Joseph Sipalan Joseph Sipalan Singapore’s pushback against negotiating with Iran over access to the Strait of Hormuz has triggered a backlash from Malaysian politicians, who saw its statements as “lecturing” them on how best to secure safe passage through the vital waterway. For the past month, Tehran had all but shut access to the strait – which handles about a fifth of global oil and gas shipments, bound mostly for Asia – in retaliation for deadly strikes by the US and Israel since they launched a war on Iran on February... https://www.scmp.com/week-asia/politics/article/3349464/malaysia-wont-be-lectured-singapores-refusal-negotiate-over-hormuz-creates-waves?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3349464/malaysia-wont-be-lectured-singapores-refusal-negotiate-over-hormuz-creates-waves?utm_source=rss_feed Thu, 09 Apr 2026 04:23:33 +0000 Carol Yang Carol Yang Global efforts to diversify energy sources are set to accelerate as the US-Israel conflict with Iran inflicts an unprecedented disruption on global supplies, analysts said, even as Washington and Tehran reportedly negotiate a reopening of the Strait of Hormuz. While the two sides have agreed to a two-week ceasefire, they remain at odds over details of reopening the strategic waterway. Despite the promised pause in hostilities, the conflict has already dealt a massive blow to international energy... https://www.scmp.com/economy/global-economy/article/3349391/global-pivot-renewables-seen-accelerating-hormuz-uncertainty-upends-energy-security?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3349391/global-pivot-renewables-seen-accelerating-hormuz-uncertainty-upends-energy-security?utm_source=rss_feed Thu, 09 Apr 2026 02:00:11 +0000 CNA,Bloomberg CNA,Bloomberg Government facilities in Singapore will take steps to reduce electricity consumption to boost the nation’s energy resilience as the conflict in the Middle East tightens global energy supplies. Immediate measures include setting the air-conditioner at 25 degrees Celsius (77 degrees Fahrenheit) or higher, managing operating times for air-conditioning, lighting and lifts and unplugging or turning off non-essential equipment when not in use, the Ministry of Sustainability and Environment (MSE) and... https://www.scmp.com/news/asia/southeast-asia/article/3349443/singapore-raises-air-con-temperatures-public-spaces-save-energy-amid-fuel-crisis?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3349443/singapore-raises-air-con-temperatures-public-spaces-save-energy-amid-fuel-crisis?utm_source=rss_feed Thu, 09 Apr 2026 01:12:14 +0000 Göktuğ Çalışkan Göktuğ Çalışkan The first tankers that turned away from the Strait of Hormuz did not just redraw shipping maps. They redrew grocery lists, too. After Iran’s partial closure of the strait disrupted a chokepoint that carries roughly 20 per cent of the world’s oil, traders priced in something they know too well: war is not only about missiles; it’s about the bill that lands on kitchen tables months later. Brent crude climbing back above US$100 a barrel, and touching roughly US$120 on the worst days, is already... https://www.scmp.com/opinion/world-opinion/article/3349221/war-premiums-hit-groceries-china-deals-give-africa-room-breathe?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3349221/war-premiums-hit-groceries-china-deals-give-africa-room-breathe?utm_source=rss_feed Wed, 08 Apr 2026 12:30:08 +0000 Aidan Jones Aidan Jones Myanmar’s weak economy is being brutally exposed to the fuel crisis, with farmers unable to fill up tractors to work their fields and a fertiliser shortage caused by the throttling of the Strait of Hormuz threatening food security just as the planting season begins. Battered by civil war and runaway inflation, and with a quarter of its population already lacking sufficient food, Myanmar is poorly positioned to absorb the oil shock and its cascading effects on an economy that is among the most... https://www.scmp.com/week-asia/economics/article/3349380/myanmars-food-security-crisis-fuel-fertiliser-shortages-threaten-fragile-economy?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3349380/myanmars-food-security-crisis-fuel-fertiliser-shortages-threaten-fragile-economy?utm_source=rss_feed Wed, 08 Apr 2026 09:06:26 +0000 Reuters Reuters The head of a body representing global airlines said on Wednesday that even if Iran reopened the Strait of Hormuz, it would take months for jet fuel supply to recover given disruptions to Middle East refining capacity. Oil fell below US$100 per barrel after US President Donald Trump said he had agreed to a two-week ceasefire with Iran ‌that was subject to the immediate and safe reopening of the Strait of Hormuz, which normally carries about a fifth of the world’s oil trade. Iranian Foreign... https://www.scmp.com/news/asia/southeast-asia/article/3349353/no-quick-fix-asian-airlines-even-if-iran-reopens-hormuz-iata-chief?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3349353/no-quick-fix-asian-airlines-even-if-iran-reopens-hormuz-iata-chief?utm_source=rss_feed Wed, 08 Apr 2026 07:26:07 +0000 Jeoffrey Maitem Jeoffrey Maitem Philippine lawmakers have voiced hope that joint oil and gas exploration deals with China could proceed amid the global energy crunch, despite a former Supreme Court justice warning that accepting Beijing’s terms would be tantamount to “suicide” for Manila. Senate President Vicente Sotto III earlier this week backed President Ferdinand Marcos Jnr’s intention to resume talks with China on such ventures, given the impact of the Middle East conflict. In 2023, Marcos Jnr and Chinese President Xi... https://www.scmp.com/week-asia/economics/article/3349350/philippine-lawmakers-call-oil-deals-china-prompts-warnings-trap?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3349350/philippine-lawmakers-call-oil-deals-china-prompts-warnings-trap?utm_source=rss_feed Wed, 08 Apr 2026 06:51:15 +0000 Shi Jiangtao Shi Jiangtao China and Australia should intensify exchanges on energy security amid complex global geopolitics, Canberra said on Tuesday as spillover from the US-Israel war against Iran continued to endanger the world economy. In a phone conversation on Tuesday, Australian Prime Minister Anthony Albanese and Chinese Premier Li Qiang discussed the importance of energy security “in light of the current global challenges” and agreed to increase government-to-government communication to support regional energy... https://www.scmp.com/news/china/diplomacy/article/3349341/neighbours-matter-more-ever-china-australia-vow-more-contact-amid-global-tension?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3349341/neighbours-matter-more-ever-china-australia-vow-more-contact-amid-global-tension?utm_source=rss_feed Wed, 08 Apr 2026 06:27:41 +0000 Agencies Agencies President Donald Trump’s announcement of a two-week ceasefire between the US and Iran that will see Tehran temporarily reopen the vital Strait of Hormuz brought welcome relief to Asian markets on Wednesday. With Trump’s deadline approaching for the Islamic Republic to reopen the waterway or face obliteration, he announced a halt to attacks for two weeks and said he had received a “workable” 10-point proposal. Iran later said it had agreed to safe passage in the strait, through which a fifth of... https://www.scmp.com/news/asia/east-asia/article/3349331/cautious-optimism-asia-after-us-iran-agree-ceasefire-reopen-hormuz?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3349331/cautious-optimism-asia-after-us-iran-agree-ceasefire-reopen-hormuz?utm_source=rss_feed Wed, 08 Apr 2026 04:52:07 +0000 CNA CNA Singapore will not negotiate for safe passage through the Strait of Hormuz, as doing so would undermine fundamental principles of international law, Foreign Affairs Minister Vivian Balakrishnan has said. Responding to a parliamentary question on Tuesday by Member of Parliament Fadli Fawzi on whether Singapore would engage Iran or consider paying a toll for its vessels, Balakrishnan stressed that transit through such waterways was a right – not a privilege. “There is a right of transit passage,”... https://www.scmp.com/news/asia/southeast-asia/article/3349314/singapore-says-no-negotiations-hormuz-safe-passage-transit-right-not-privilege?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3349314/singapore-says-no-negotiations-hormuz-safe-passage-transit-right-not-privilege?utm_source=rss_feed Wed, 08 Apr 2026 01:16:36 +0000 Associated Press Associated Press Russia and China on Tuesday vetoed a UN Security Council resolution aimed at reopening the Strait of Hormuz that had been repeatedly watered down in hopes those two countries would abstain. The vote – 11-2, with two abstentions from Pakistan and Colombia – took place shortly after US President Donald Trump issued an unprecedented threat that a “whole civilisation will die tonight” if Iran does not open the strategic waterway and make a deal. But late Tuesday, less than two hours before the... https://www.scmp.com/news/world/article/3349309/iran-war-russia-and-china-veto-un-resolution-reopen-strait-hormuz?utm_source=rss_feed https://www.scmp.com/news/world/article/3349309/iran-war-russia-and-china-veto-un-resolution-reopen-strait-hormuz?utm_source=rss_feed Tue, 07 Apr 2026 17:25:04 +0000 Associated Press Associated Press Iran has allowed two French former detainees, Cecile Kohler and Jacques Paris, to leave the country, French President Emmanuel Macron said on Tuesday. They had been holed up in French diplomatic premises there since their release from prison. “Cecile Kohler and Jacques Paris are free and en route towards French territory, after three and a half years of detention in Iran,” Macron posted on social media. The green light for them to leave Iran, long sought by France, signalled how Iran is... https://www.scmp.com/news/world/middle-east/article/3349300/iran-allows-2-french-former-detainees-leave-country?utm_source=rss_feed https://www.scmp.com/news/world/middle-east/article/3349300/iran-allows-2-french-former-detainees-leave-country?utm_source=rss_feed Tue, 07 Apr 2026 14:30:58 +0000 Ushar Daniele Ushar Daniele Tehran’s decision to let Malaysia-linked vessels through the Strait of Hormuz highlighted Iran’s growing use of access to the strategic waterway as leverage, analysts said, with only a limited number of ships now able to pass and access increasingly determined by political ties rather than treated as a neutral commercial right. For Malaysia, the move drew attention not only to Tehran’s close ties with Putrajaya but also to scrutiny surrounding sanction-sensitive oil trade and ship-to-ship... https://www.scmp.com/week-asia/economics/article/3349284/iran-does-not-forget-its-friends-malaysia-ships-pass-hormuz-amid-selective-access?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3349284/iran-does-not-forget-its-friends-malaysia-ships-pass-hormuz-amid-selective-access?utm_source=rss_feed Tue, 07 Apr 2026 11:52:57 +0000 He Huifeng He Huifeng China has broken ground on a 50-megawatt concentrated solar power plant in Tibet at an altitude of 4,550 metres (14,900 feet), making it the world’s highest-altitude parabolic trough solar thermal facility. The project, located in Dangxiong County, incorporates a 400-megawatt photovoltaic system and is scheduled for full operation by 2027, Xinhua reported. Preparatory digging at the site began on Monday. Global energy supplies have grown increasingly volatile in recent years, due to climate... https://www.scmp.com/economy/china-economy/article/3349255/china-starts-work-solar-plant-built-under-extreme-conditions-amid-global-energy-crisis?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3349255/china-starts-work-solar-plant-built-under-extreme-conditions-amid-global-energy-crisis?utm_source=rss_feed Tue, 07 Apr 2026 10:58:07 +0000 Alyssa Chen Alyssa Chen As US President Donald Trump issued further threats pressuring Iran into striking a peace deal, the two sides stood far apart amid a trust deficit, a guarantor vacuum and Israel’s role, analysts said. Trump extended the deadline for a deal calling on Iran to reopen the Strait of Hormuz until Tuesday 8pm Washington time – his third time doing so since the war began on February 28. Trump escalated the threats on Tuesday, saying: “A whole civilisation will die tonight, never to be brought back... https://www.scmp.com/news/china/diplomacy/article/3349277/what-must-happen-us-and-iran-reach-peace-deal?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3349277/what-must-happen-us-and-iran-reach-peace-deal?utm_source=rss_feed Tue, 07 Apr 2026 10:20:41 +0000 Kolette Lim,Jean Iau Kolette Lim,Jean Iau Singapore’s economy will inevitably be hit by the global energy crunch even though it is in a better position to deal with the crisis compared with its neighbours, according to analysts, as the city state unveiled a raft of measures to help households and businesses. The conflict in the Middle East has roiled supply chains and sent fuel prices soaring in Southeast Asia, with governments scrambling to enforce measures such as fuel caps and work-from-home mandates. Singapore ministers in... https://www.scmp.com/week-asia/economics/article/3349276/singapore-set-be-hit-global-energy-crisis-it-unveils-countermeasures?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3349276/singapore-set-be-hit-global-energy-crisis-it-unveils-countermeasures?utm_source=rss_feed Tue, 07 Apr 2026 10:20:15 +0000 Reuters Reuters Filipino farmers like Romeo Wagayan have ⁠been left with little choice ⁠but to let their vegetables rot in the ⁠field rather than sell them at a loss, as rising oil prices linked to the conflict in the Middle East drive up the cost of harvesting, labour and transport. “There’s nothing we can do,” said Wagayan, a 57-year-old vegetable farmer in the northern Philippine province of Benguet. “If we harvest ‌it, our losses only increase because of labour, transportation and packing costs. We don’t... https://www.scmp.com/news/asia/southeast-asia/article/3349246/filipino-farmers-leave-crops-rot-fuel-prices-drive-cost-harvest?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3349246/filipino-farmers-leave-crops-rot-fuel-prices-drive-cost-harvest?utm_source=rss_feed Tue, 07 Apr 2026 07:53:03 +0000 Yujie Xue Yujie Xue China’s abundant renewable power and government support could bring a once prohibitively expensive green energy solution into the mainstream – hydrogen. Extensive access to low-cost solar and wind power could let the country produce huge quantities of hydrogen in an environmentally friendly and affordable manner. The government is also stoking demand for the zero-emission fuel, potentially creating incentives for investors to put money into the infrastructure needed for production and... https://www.scmp.com/plus/business/climate-and-energy/article/3348964/green-hydrogen-drive-may-help-china-reach-carbon-neutral-goal?utm_source=rss_feed https://www.scmp.com/plus/business/climate-and-energy/article/3348964/green-hydrogen-drive-may-help-china-reach-carbon-neutral-goal?utm_source=rss_feed Tue, 07 Apr 2026 01:00:19 +0000 Agencies Agencies Ukrainian President Volodymyr Zelensky said on ⁠Monday that he ⁠stood by a ⁠proposal made to Russia for a ceasefire contingent on Moscow halting all attacks on energy infrastructure. Zelensky said in his nightly video address that the proposal had ‌been conveyed to Moscow through the US. He also said work was continuing with US negotiators on security guarantees, which he called the key to lasting peace. Ukraine has been fighting a full-scale Russian invasion for more than four years. Due to... https://www.scmp.com/news/world/russia-central-asia/article/3349194/3-dead-15-injured-russia-hits-ukraines-port-city-odesa-major-drone-strike?utm_source=rss_feed https://www.scmp.com/news/world/russia-central-asia/article/3349194/3-dead-15-injured-russia-hits-ukraines-port-city-odesa-major-drone-strike?utm_source=rss_feed Mon, 06 Apr 2026 17:13:04 +0000 Aidan Jones Aidan Jones From sea transfers by smugglers and hoarding to stockpiling underground, profiteering from the oil crunch in Thailand has exacerbated a supply crisis that Prime Minister Anutin Charnvirakul warned on Monday was about to worsen, given the country’s reliance on fuel imports. As diesel pump prices hit an all-time high of around 50 baht (US$1.54) a litre on Monday, Justice Minister Major-General Rutthaphon Naowarat told reporters that “oil has definitely gone missing”, saying it was too early to... https://www.scmp.com/week-asia/economics/article/3349177/oil-smugglers-hoarders-thailand-worsen-supply-crisis-anutin-warns-tough-times?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3349177/oil-smugglers-hoarders-thailand-worsen-supply-crisis-anutin-warns-tough-times?utm_source=rss_feed Mon, 06 Apr 2026 11:19:54 +0000 Ng Kang-chung Ng Kang-chung A Hong Kong bus operator serving commuters in Tuen Mun has scrapped plans to reduce services amid soaring oil prices after transport authorities warned that it needed to apply for any changes at least 14 days in advance. ABC Touring Car Company, which runs non-franchised bus services linking Tuen Mun and urban areas, announced on Sunday it would reduce its operations with immediate effect as a first step to cut costs. But the company, which had also warned of ceasing operations, changed course... https://www.scmp.com/news/hong-kong/transport/article/3349168/tuen-mun-bus-operator-cuts-services-amid-soaring-fuel-prices-warns-closure?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3349168/tuen-mun-bus-operator-cuts-services-amid-soaring-fuel-prices-warns-closure?utm_source=rss_feed Mon, 06 Apr 2026 10:06:55 +0000 Agence France-Presse Agence France-Presse South Korea will send five Korean-flagged ships to the Saudi Arabian Red Sea port of Yanbu to help establish alternative oil supply routes to avoid the disruption in the Strait of Hormuz, a ruling MP said on Monday. Oil prices have surged amid the US-Israeli war on Iran, raising growth and inflation risks for South Korea, which relies on Middle Eastern crude for around 70 per cent of its imports. Iran has effectively closed the Strait of Hormuz – a critical route for global crude oil and gas –... https://www.scmp.com/news/asia/east-asia/article/3349167/iran-war-south-korea-aims-bypass-hormuz-send-ships-saudi-port-oil?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3349167/iran-war-south-korea-aims-bypass-hormuz-send-ships-saudi-port-oil?utm_source=rss_feed Mon, 06 Apr 2026 10:01:03 +0000 Iman Muttaqin Yusof Iman Muttaqin Yusof Malaysia is facing renewed pressure to expand the use of palm-based biodiesel as the Iran war drives up fuel costs, but industry and academic observers say high infrastructure costs and slow roll-out make it an unlikely source of quick relief. That tension has sharpened as the government confronts a swelling fuel subsidy bill and greater exposure to imported supply shocks. The finance ministry last month said petrol and diesel subsidies could reach 4 billion ringgit (US$903 million) a month with... https://www.scmp.com/week-asia/economics/article/3349159/can-palm-biodiesel-provide-quick-relief-malaysia-amid-iran-war?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3349159/can-palm-biodiesel-provide-quick-relief-malaysia-amid-iran-war?utm_source=rss_feed Mon, 06 Apr 2026 09:00:33 +0000 Nicholas Spiro Nicholas Spiro Singapore Foreign Minister Vivian Balakrishnan does not mince his words. In an interview with Reuters on March 23, he said Iran’s effective closure of the Strait of Hormuz was, “in a sense, an Asian crisis”. Many industry experts agree with him. Before the war in Iran erupted, China, India, Japan and South Korea accounted for 75 per cent of oil and 59 per cent of liquefied natural gas (LNG) flows through the strait. In a report on March 6, Nomura said Asia was the “epicentre of the energy... https://www.scmp.com/opinion/asia-opinion/article/3349119/why-asias-data-centres-are-insulated-iran-energy-shock?utm_source=rss_feed https://www.scmp.com/opinion/asia-opinion/article/3349119/why-asias-data-centres-are-insulated-iran-energy-shock?utm_source=rss_feed Mon, 06 Apr 2026 08:30:07 +0000 Agence France-Presse Agence France-Presse Southeast Asia’s largest low-cost carrier AirAsia X said on Monday it was raising ticket prices by as much as 40 per cent and cutting routes to cushion the impact of the war on Iran, but stressed demand for flights remained high. The Malaysia-based no-frills airline said about 10 per cent of its overall flights had been cut so far. It has raised fuel surcharges by about 20 per cent, while fare prices have increased between 31 per cent and 40 per cent. Average jet fuel costs have soared to about... https://www.scmp.com/news/asia/southeast-asia/article/3349143/airasia-x-hikes-ticket-prices-40-cut-capacity-10-iran-war-hits-fuel-costs?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3349143/airasia-x-hikes-ticket-prices-40-cut-capacity-10-iran-war-hits-fuel-costs?utm_source=rss_feed Mon, 06 Apr 2026 07:41:39 +0000 Kyodo Kyodo The Japanese government is arranging summit talks with Iran, Prime Minister Sanae Takaichi said on Monday, with tensions mounting in the Middle East as US President Donald Trump’s deadline for Iran to open the Strait of Hormuz approaches. “We are preparing dialogues at the leadership level at an appropriate time,” Takaichi told a parliamentary committee when asked by an opposition lawmaker about Japan’s diplomatic efforts regarding the US-Israeli war with Iran. “Japan will make every effort... https://www.scmp.com/news/asia/east-asia/article/3349124/japans-takaichi-seeks-urgent-summit-iran-trumps-hormuz-deadline-looms?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3349124/japans-takaichi-seeks-urgent-summit-iran-trumps-hormuz-deadline-looms?utm_source=rss_feed Mon, 06 Apr 2026 05:32:07 +0000 dpa dpa Hungarian Prime Minister Viktor Orban on Sunday appeared to suggest Ukraine was involved in planning an act of sabotage after Serbia reported finding explosives on a gas pipeline used to transport Russian natural gas to the two countries. Earlier on Sunday, Serbian President Aleksandar Vucic said explosives “of devastating force” were found on the Balkan Stream pipeline near the village of Velebit on the Hungarian border. The pipeline transports Russian natural gas from Turkey via Bulgaria,... https://www.scmp.com/news/world/europe/article/3349104/orban-appears-blame-kyiv-serbian-gas-pipeline-explosives-find?utm_source=rss_feed https://www.scmp.com/news/world/europe/article/3349104/orban-appears-blame-kyiv-serbian-gas-pipeline-explosives-find?utm_source=rss_feed Sun, 05 Apr 2026 18:46:53 +0000 Bloomberg Bloomberg Australia’s government has received guarantees from major fuel exporting nations in Asia that supplies will proceed as normal despite the disruptions caused by the war in Iran, Assistant Foreign Affairs and Trade Minister Matt Thistlethwaite said. In an interview with Sky News on Sunday, Thistlethwaite said that he had sought and received pledges from Japan, South Korea and Singapore that shipments of fuel to Australia would continue, amid concerns that some countries might curb exports to... https://www.scmp.com/news/asia/australasia/article/3349087/australia-receives-fuel-export-guarantees-singapore-japan?utm_source=rss_feed https://www.scmp.com/news/asia/australasia/article/3349087/australia-receives-fuel-export-guarantees-singapore-japan?utm_source=rss_feed Sun, 05 Apr 2026 10:31:34 +0000 Agence France-Presse Agence France-Presse Critical infrastructure across the Gulf came under attack from Iran on Sunday with damage reported at civilian facilities in the United Arab Emirates, Bahrain and Kuwait. Gulf countries have faced repeated drone and missile salvoes from Iran over past weeks in response to US and Israeli strikes that began at the end of February. Iran has targeted energy and other industrial infrastructure in the oil-rich Gulf nations, accusing its neighbours of allowing US forces to carry out attacks from their... https://www.scmp.com/news/world/middle-east/article/3349084/uae-bahrain-and-kuwait-lose-water-energy-infrastructure-iran-strikes?utm_source=rss_feed https://www.scmp.com/news/world/middle-east/article/3349084/uae-bahrain-and-kuwait-lose-water-energy-infrastructure-iran-strikes?utm_source=rss_feed Sun, 05 Apr 2026 08:53:41 +0000 Junaid Kathju Junaid Kathju As Russia comes to India’s aid amid the global energy crisis, a familiar mantra has resurfaced among officials and political analysts – that Moscow is New Delhi’s “all weather-friend”. Such a stance is anchored by deep strategic interests, with both countries viewing each other as vital to their balancing between China and an increasingly erratic United States, according to observers. On Friday, Russian First Deputy Prime Minister Denis Manturov said Moscow was well-positioned to ramp up oil and... https://www.scmp.com/week-asia/politics/article/3349063/india-turns-trusted-friend-russia-oil-lng-supply-iran-war-energises-ties?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3349063/india-turns-trusted-friend-russia-oil-lng-supply-iran-war-energises-ties?utm_source=rss_feed Sun, 05 Apr 2026 04:29:34 +0000 Agence France-Presse Agence France-Presse Iran launched missiles and drones at Israel and Kuwait on Sunday, a day after US President Donald Trump said the Islamic republic had 48 hours to cut a deal or face “all Hell”. Kuwait and Israel said their air defences were responding to the latest attacks from Iran, part of the war that erupted more than a month ago with US-Israeli strikes that triggered retaliation by Tehran. The war has spread conflict throughout the Middle East and convulsed the global economy. Iran’s forces maintain a tight... https://www.scmp.com/news/world/middle-east/article/3349059/iran-attacks-kuwait-israel-after-trump-sets-deadline-deal?utm_source=rss_feed https://www.scmp.com/news/world/middle-east/article/3349059/iran-attacks-kuwait-israel-after-trump-sets-deadline-deal?utm_source=rss_feed Sun, 05 Apr 2026 03:03:40 +0000 Agence France-Presse Agence France-Presse US President Donald Trump said on Saturday that Tehran had 48 hours left to cut a deal or face “all Hell”, as US and Iranian forces scrambled to find a downed American airman. Trump’s latest threat came after a strike near an Iranian nuclear power plant prompted evacuations, and as Tehran announced fresh attacks and the Israeli military said it had detected another missile launch from Yemen. Iran’s Revolutionary Guards said they hit a commercial ship in Bahrain, as they maintained their tight... https://www.scmp.com/news/world/united-states-canada/article/3349050/iran-has-48-hours-make-deal-says-trump-or-us-will-unleash-hell?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3349050/iran-has-48-hours-make-deal-says-trump-or-us-will-unleash-hell?utm_source=rss_feed Sat, 04 Apr 2026 15:08:45 +0000 Reuters Reuters The ⁠International ⁠Atomic Energy Agency ⁠on Saturday said that it has been informed by Iran ‌about a projectile striking close to the premises of the Bushehr nuclear power plant. The IAEA said in ⁠an X post that one ‌of the site’s physical protection staff members was ‌killed by a projectile ⁠fragment ⁠and that a building on site ‌was affected by shock waves and fragments. “No increase ‌in ‌radiation levels was ‌reported,” the IAEA said. Rafael Grossi, head of the agency, voiced “deep concern”... https://www.scmp.com/news/world/middle-east/article/3349039/strike-near-irans-bushehr-nuclear-plant-kills-1-says-iaea?utm_source=rss_feed https://www.scmp.com/news/world/middle-east/article/3349039/strike-near-irans-bushehr-nuclear-plant-kills-1-says-iaea?utm_source=rss_feed Sat, 04 Apr 2026 11:00:11 +0000 Reuters Reuters Five European Union finance ministers are calling for a tax on windfall profits of energy companies in reaction to rising fuel prices due to the Iran war, according to a letter from ‌the ministers to the EU Commission seen by Reuters on Saturday. The finance ministers of Germany, Italy, Spain, Portugal and Austria made the joint call in a letter dated Friday, saying such a measure would be a signal that “we stand united and are able to take action”. “It would also send a clear message that those... https://www.scmp.com/news/world/europe/article/3349035/eu-finance-ministers-urge-tax-energy-firms-profits-amid-iran-war?utm_source=rss_feed https://www.scmp.com/news/world/europe/article/3349035/eu-finance-ministers-urge-tax-energy-firms-profits-amid-iran-war?utm_source=rss_feed Sat, 04 Apr 2026 09:32:17 +0000 Dicky Yordan Dicky Yordan Somewhere in Manila, a journalist reported a scene where tricycle drivers queued since six in the morning for a government cash handout worth US$84 – compensation for fuel prices that have surged since Iran closed the Strait of Hormuz. The Philippines has also become the first country to declare a state of national energy emergency. In Hanoi, petrol stations are rationing by the hour and unleaded prices have climbed more than 20 per cent in a matter of weeks. In Jakarta, the government is... https://www.scmp.com/week-asia/opinion/article/3348970/hormuz-sending-southeast-asia-warning-and-we-can-no-longer-ignore-it?utm_source=rss_feed https://www.scmp.com/week-asia/opinion/article/3348970/hormuz-sending-southeast-asia-warning-and-we-can-no-longer-ignore-it?utm_source=rss_feed Sat, 04 Apr 2026 04:00:27 +0000