https://www.scmp.com/rss/323048/feed The events affecting bottom lines in Asia’s business environment ­– analysed and explained en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Kolette Lim Kolette Lim As robots become more advanced to carry out complex tasks, they are set to be at the forefront of the next phase of Singapore’s goal to become a world-class artificial intelligence hub. The city state hopes to position itself as a hub for “physical AI” – robots and autonomous systems that can clean buildings, deliver goods, patrol public spaces and eventually work in factories, hospitals and homes. Singapore’s stable regulatory environment, strong digital infrastructure and experience deploying... https://www.scmp.com/week-asia/economics/article/3354423/robots-singapores-ai-zone-clean-patrol-and-deliver-goods?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3354423/robots-singapores-ai-zone-clean-patrol-and-deliver-goods?utm_source=rss_feed Fri, 22 May 2026 00:00:14 +0000 Jean Iau Jean Iau As high fuel prices and disruption from the Middle East conflict force many Asian carriers to cut capacity and rearrange routes, Singapore Airlines (SIA) is moving in the opposite direction: adding long-haul flights to Europe in a bid to capture traffic from its Gulf rivals. Aviation analysts said the carrier’s expansion reflected a rare combination in the region: a strong balance sheet, insulation from sudden jumps in fuel prices due to its hedging strategy and a hub in Singapore that could... https://www.scmp.com/week-asia/economics/article/3354405/singapore-airlines-faces-narrow-window-gain-market-share-gulf-rivals?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3354405/singapore-airlines-faces-narrow-window-gain-market-share-gulf-rivals?utm_source=rss_feed Thu, 21 May 2026 12:33:32 +0000 Jean Iau Jean Iau Singapore’s push to prepare workers for artificial intelligence is facing a stern test after Meta and Standard Chartered announced lay-offs this week, fuelling debate over how far AI is already reshaping jobs in the city state. The cuts have made one question more urgent for Singapore: can its goal to train workers to take on new or redesigned roles keep pace with increased use of AI and automation by companies as they reduce headcounts? Meta employees in Singapore reportedly began receiving... https://www.scmp.com/week-asia/economics/article/3354274/singapore-ai-job-cuts-debate-flares-over-lower-value-human-capital-remark?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3354274/singapore-ai-job-cuts-debate-flares-over-lower-value-human-capital-remark?utm_source=rss_feed Wed, 20 May 2026 13:21:33 +0000 Resty Woro Yuniar Resty Woro Yuniar Indonesia will require exports of key commodities to pass through a state-appointed enterprise in a sweeping effort to curb revenue leaks, tighten oversight of natural resources and keep more foreign exchange earnings at home. The policy, announced by President Prabowo Subianto in a rare address to parliament on Wednesday, would apply to palm oil, coal and ferroalloys – three major export earners for Southeast Asia’s largest economy. Under the new regulation, producers would have to sell their... https://www.scmp.com/week-asia/economics/article/3354262/indonesias-prabowo-tightens-state-grip-palm-oil-coal-amid-monopolistic-fears?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3354262/indonesias-prabowo-tightens-state-grip-palm-oil-coal-amid-monopolistic-fears?utm_source=rss_feed Wed, 20 May 2026 11:01:09 +0000 Biman Mukherji Biman Mukherji Asia’s clean energy push is facing heightened supply-chain risk as the Middle East conflict disrupts aluminium and nickel production and could raise costs for solar panels, wind turbines and grid upgrades. Countries such as Indonesia, Vietnam and the Philippines have installed more rooftop solar panels and other green infrastructure in recent years, driven by high power bills caused by elevated oil and gas prices. However, these green projects are facing uncertainties as the blockade of the... https://www.scmp.com/week-asia/economics/article/3354128/aluminium-supply-crunch-threatens-asias-clean-energy-push-amid-iran-war?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3354128/aluminium-supply-crunch-threatens-asias-clean-energy-push-amid-iran-war?utm_source=rss_feed Wed, 20 May 2026 00:00:13 +0000 Resty Woro Yuniar Resty Woro Yuniar Indonesian officials have moved to reassure markets that the country’s economic fundamentals remain sound after the rupiah sank to a record low, but President Prabowo Subianto’s attempts to play down the currency’s slide has attracted criticism from economists and social media users alike. The rupiah fell to 17,720 per US dollar on Tuesday, cementing its status as one of Asia’s worst-performing currencies this year. Indonesia’s main stock index, the Jakarta Composite Index (JCI), tumbled 3.46... https://www.scmp.com/week-asia/economics/article/3354111/indonesias-rupiah-sinks-record-low-prabowo-shrugs-rout-fears?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3354111/indonesias-rupiah-sinks-record-low-prabowo-shrugs-rout-fears?utm_source=rss_feed Tue, 19 May 2026 10:30:04 +0000 Park Chan-kyong Park Chan-kyong In South Korea, the clock is ticking on what threatens to become the most consequential labour dispute in recent history – and Seoul is running out of patience. With 50,000 workers at Samsung Electronics poised to walk off the job on Thursday in an 18-day strike, the government of President Lee Jae Myung finds itself cornered by a crisis it cannot afford to mishandle, with up to 100 trillion won (US$66.7 billion) in projected economic damage on the line, plus the potential disruption to global... https://www.scmp.com/week-asia/economics/article/3353960/south-korea-stifling-samsung-workers-us400000-bonus-strike-risks-wider-crisis?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3353960/south-korea-stifling-samsung-workers-us400000-bonus-strike-risks-wider-crisis?utm_source=rss_feed Mon, 18 May 2026 09:00:07 +0000 Tom Hussain Tom Hussain No country on Earth has adopted artificial intelligence faster than the United Arab Emirates – and the Middle Eastern cultural crossroad’s ambitions to become an AI bridge to the Global South just got another major leg up with the delivery of the latest, cutting-edge US-designed chips. But those ambitions are taking shape in a hostile environment. Amid the US-Israel war on Iran, Tehran’s Islamic Revolutionary Guards Corps has repeatedly taken aim at major Emirati data centres, developed in... https://www.scmp.com/week-asia/economics/article/3353743/uae-ditches-oil-ai-build-bridge-global-south?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3353743/uae-ditches-oil-ai-build-bridge-global-south?utm_source=rss_feed Mon, 18 May 2026 00:00:11 +0000 Aisyah Llewellyn Aisyah Llewellyn Chinese businesses in Indonesia have issued an unusually blunt warning to President Prabowo Subianto that a wave of tougher rules is hurting investor confidence, exposing growing tension between Jakarta’s push for control of the resources sector and foreign capital that has helped power the country’s nickel boom. Several ministers in Jakarta have pushed back, saying Indonesia must prioritise sovereignty over its natural resources, while stressing the government remains open to dialogue and has... https://www.scmp.com/week-asia/economics/article/3353847/indonesia-pushes-back-after-chinese-business-group-complains-tougher-rules-hurt-investors?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3353847/indonesia-pushes-back-after-chinese-business-group-complains-tougher-rules-hurt-investors?utm_source=rss_feed Sun, 17 May 2026 02:00:12 +0000 Minh Tran Minh Tran Ahead of next year’s Apec summit, Vietnam has a grand plan to transform Phu Quoc, its largest island, into Southeast Asia’s leading conference and exhibition hub. The 137 trillion dong (US$5.2 billion) blueprint includes an airport overhaul, a light-rail line, clusters of luxury hotels and a brand-new sewerage system – much of it paid for by one of the country’s largest conglomerates, in return for tracts of land, operating concessions and the cachet of building national landmarks. But problems... https://www.scmp.com/week-asia/economics/article/3353741/vietnams-us5-billion-apec-island-running-out-time?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3353741/vietnams-us5-billion-apec-island-running-out-time?utm_source=rss_feed Sun, 17 May 2026 00:00:12 +0000 Sam Beltran Sam Beltran A widely touted economic hub in the Philippines will involve eight more countries, signalling greater international confidence in the long-term viability of the ambitious project to boost connectivity and trade in a key region. The Luzon Economic Corridor (LEC), a trilateral infrastructure initiative led by the US, Japan, and the Philippines, is set to receive additional support from Canada, Australia, Denmark, France, Italy, South Korea, Sweden and the United Kingdom. Initially envisioned as a... https://www.scmp.com/week-asia/economics/article/3353736/western-powers-ramp-support-philippines-luzon-economic-hub?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3353736/western-powers-ramp-support-philippines-luzon-economic-hub?utm_source=rss_feed Fri, 15 May 2026 11:07:49 +0000 Biman Mukherji Biman Mukherji South and Southeast Asian nations may emerge as unexpected clean energy beneficiaries after the Green Party of England and Wales made record-breaking gains in recent UK local council elections, according to analysts. The Greens expanded their footprint in the May 7 council elections, capitalising on widespread voter disillusionment with Britain’s two major parties, Labour and Conservative. It was the party’s best-ever performance in a local election. While Nigel Farage’s right-wing populist... https://www.scmp.com/week-asia/health-environment/article/3353672/greening-uk-politics-could-mean-big-business-asian-renewable-exporters?utm_source=rss_feed https://www.scmp.com/week-asia/health-environment/article/3353672/greening-uk-politics-could-mean-big-business-asian-renewable-exporters?utm_source=rss_feed Fri, 15 May 2026 06:45:17 +0000 Julian Ryall Julian Ryall Japan’s ruling Liberal Democratic Party is weighing a sharp rise in defence spending as pressure from US President Donald Trump and deteriorating regional security conditions force Tokyo to reassess how much it must do to protect itself. The party is expected to debate raising outlays to as much as 5 per cent of gross domestic product, a level that would bring Japan in line with many Nato member states and mark another major shift for a country that had long kept defence spending close to 1 per... https://www.scmp.com/week-asia/politics/article/3353577/trump-behind-japans-push-radical-military-spending-hike?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3353577/trump-behind-japans-push-radical-military-spending-hike?utm_source=rss_feed Fri, 15 May 2026 01:30:09 +0000 Sam Beltran Sam Beltran Canada’s proposed free-trade agreement with Asean could help the region expand sectors ranging from mining to manufacturing while advancing Ottawa’s push to reduce its dependence on the US, according to analysts, as both sides seek to accelerate economic diversification. Canadian International Trade Minister Maninder Sidhu confirmed to Bloomberg on Tuesday, during a visit to Manila, that Canada was keen to conclude separate pacts with the Association of Southeast Asian Nations and the... https://www.scmp.com/week-asia/economics/article/3353598/proposed-fta-asean-set-be-central-canadas-trade-diversification?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3353598/proposed-fta-asean-set-be-central-canadas-trade-diversification?utm_source=rss_feed Fri, 15 May 2026 00:00:12 +0000 Jeoffrey Maitem Jeoffrey Maitem A proposed airport on a former US naval base in the Philippines near the entrance to Manila Bay is drawing fresh strategic attention after Washington agreed to fund a feasibility study, a move analysts say fits into US efforts to strengthen logistics, access and interoperability with the country in the South China Sea. Experts said the proposed Sangley Point International Airport in Cavite could become more than a commercial aviation project because of its access to the South China Sea and the... https://www.scmp.com/week-asia/economics/article/3353548/why-us-backing-philippine-airport-former-sangley-point-naval-base?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3353548/why-us-backing-philippine-airport-former-sangley-point-naval-base?utm_source=rss_feed Thu, 14 May 2026 10:00:10 +0000 Park Chan-kyong Park Chan-kyong Samsung Electronics’ biggest labour union is threatening to strike at the height of the global AI chip boom, turning a fight over bonuses into a test of how the industry’s windfall profits should be shared and sparking fears of an economic slowdown in South Korea. The union has warned it will stage an 18-day walkout from May 21 to June 7, raising concerns about production disruptions, customer defections and wider fallout across the global technology supply chain. The dispute comes as demand for... https://www.scmp.com/week-asia/economics/article/3353543/samsung-unions-strike-threat-fuels-fears-south-koreas-economic-slowdown?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3353543/samsung-unions-strike-threat-fuels-fears-south-koreas-economic-slowdown?utm_source=rss_feed Thu, 14 May 2026 09:00:06 +0000 Biman Mukherji Biman Mukherji Asian migrant workers in the Gulf are testing stablecoins as a backup channel for sending money home, as the Iran war heightens fears that the risk of US sanctions could disrupt remittances that millions of families and several Asian economies rely on. Remittances from these workers account for 3 per cent to 5 per cent of gross domestic product in several emerging markets – in Nepal, it is as high as 10 per cent, according to data from the Global Settlement Network. Concerns over remittance... https://www.scmp.com/week-asia/economics/article/3353456/iran-war-pushes-asias-gulf-migrants-use-stablecoins-remittances?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3353456/iran-war-pushes-asias-gulf-migrants-use-stablecoins-remittances?utm_source=rss_feed Wed, 13 May 2026 12:04:07 +0000 Julian Ryall Julian Ryall One of Japan’s best-loved snack brands is switching to monochrome packaging for a number of its products due to a shortage of naphtha – a crude-oil derivative used in petrochemicals and printing inks – caused by the closure of the Strait of Hormuz. In a statement issued on Tuesday, Calbee said it would “temporarily revise packaging specifications for certain products in response to supply instability affecting certain raw materials amid ongoing tensions in the Middle East”. The decision by the... https://www.scmp.com/week-asia/economics/article/3353241/oil-crunch-drains-colour-calbee-1-japans-favourite-snacks?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3353241/oil-crunch-drains-colour-calbee-1-japans-favourite-snacks?utm_source=rss_feed Tue, 12 May 2026 06:52:51 +0000 Iman Muttaqin Yusof Iman Muttaqin Yusof Malaysia’s plan to stop wealthier drivers from enjoying cheap subsidised petrol has left Prime Minister Anwar Ibrahim facing a politically fraught question: how to define “rich” without punishing households already squeezed by higher living costs. The issue has sharpened as the Middle East energy shock strains government finances, forcing authorities to weigh fiscal discipline against the risk of angering middle-class voters in a car-dependent country. Anwar said the government had agreed in... https://www.scmp.com/week-asia/economics/article/3353139/malaysias-fuel-subsidy-headache-leaves-anwar-scrambling-solution?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3353139/malaysias-fuel-subsidy-headache-leaves-anwar-scrambling-solution?utm_source=rss_feed Mon, 11 May 2026 08:35:35 +0000 Ushar Daniele Ushar Daniele A call from the former CEO of Proton for Malays to abandon a “mentality of waiting for aid” has been met with ridicule online, with social media users pointing to the national carmaker’s own long history of government support. Speaking on Sunday at the inaugural Musyawarah Nasional (National Discourse) dialogue platform founded by Deputy Prime Minister Ahmad Zahid Hamidi, Syed Zainal Abidin Syed Tahir said Malays needed to replace this perceived reliance on handouts with initiative. “Go for... https://www.scmp.com/week-asia/economics/article/3353135/malaysia-ex-proton-ceos-self-reliance-sermon-spurs-backlash-spare-us?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3353135/malaysia-ex-proton-ceos-self-reliance-sermon-spurs-backlash-spare-us?utm_source=rss_feed Mon, 11 May 2026 08:25:20 +0000 Jean Iau Jean Iau As global markets are roiled by geopolitical uncertainty and the energy fallout from war in the Middle East, a tiny speck in Southeast Asia has emerged as an oasis of stability – at least in terms of where the well-heeled can park their money. Giig Tanaporn, CEO and founder of business and wealth consultancy Unique Prime Group, has observed that high-net-worth clients, especially from the Middle East and South Korea, have been increasingly choosing Singapore for its regulatory framework,... https://www.scmp.com/week-asia/economics/article/3352921/singapore-shines-stable-investment-oasis-amid-global-storms-very-appetising?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3352921/singapore-shines-stable-investment-oasis-amid-global-storms-very-appetising?utm_source=rss_feed Sat, 09 May 2026 00:00:15 +0000 Jean Iau Jean Iau Deeper economic cooperation between China and the Association of Southeast Asian Nations will hinge on whether a code can be laid down to govern maritime territory and activity in the South China Sea, Philippine leader Ferdinand Marcos Jnr has said. “We cannot institutionalise any of those things until the code of conduct is finalised,” he told a press conference on Friday at the close of the 48th Asean summit in Cebu, when asked about aspects that held the most potential in relations between... https://www.scmp.com/week-asia/politics/article/3352954/asean-step-push-south-china-sea-code-energy-security?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3352954/asean-step-push-south-china-sea-code-energy-security?utm_source=rss_feed Fri, 08 May 2026 14:22:40 +0000 Biman Mukherji Biman Mukherji A US$30 million carbon credit deal by tech giant Amazon with India’s Good Rice Alliance will boost carbon markets globally, according to experts, potentially showing agriculture – as well as industry – can be at the heart of emission reductions. The organisation, primarily backed by Bayer and in collaboration with GenZero and Shell, is designed to transform emissions-heavy rice cultivation in India through scientific advances. It helps thousands of smallholder farmers adopt climate-smart growing... https://www.scmp.com/week-asia/health-environment/article/3352930/can-indias-rice-farmers-reap-us30-million-amazon-carbon-credit-deal?utm_source=rss_feed https://www.scmp.com/week-asia/health-environment/article/3352930/can-indias-rice-farmers-reap-us30-million-amazon-carbon-credit-deal?utm_source=rss_feed Fri, 08 May 2026 11:16:01 +0000 Joseph Sipalan Joseph Sipalan Malaysia’s nascent electric vehicle market may be decimated before it gets up to speed, as business experts warn of a sharp drop in demand and delay in the renewable energy transition if the government imposes strict price curbs on imported units from July, in a move to protect the country’s vehicle makers. The ministry of investment, trade and industry (Miti) on Wednesday announced that from July 1, it will only allow the sale of imported EVs that have a cost, insurance and freight (CIF) value... https://www.scmp.com/week-asia/economics/article/3352893/malaysias-ev-import-curbs-protect-local-car-sector-criticised-inconsistency?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3352893/malaysias-ev-import-curbs-protect-local-car-sector-criticised-inconsistency?utm_source=rss_feed Fri, 08 May 2026 09:15:32 +0000 Sam Beltran Sam Beltran The spectre of the global energy crisis loomed over the three-day Asean summit in the Philippines as regional leaders converge for a final day of talks in Cebu on Friday. Analysts say that while some major flashpoints were addressed – with Thailand and Cambodia’s joint statement of solidarity being a bright spot – surging fuel costs as a result of the Iran war weighed heaviest on the minds of Southeast Asian leaders. The fuel crisis was the “defining issue”, said Vu Lam, an Asean observer and... https://www.scmp.com/week-asia/politics/article/3352850/energy-crisis-dominates-asean-summit-forcing-long-standing-issues-back-burner?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3352850/energy-crisis-dominates-asean-summit-forcing-long-standing-issues-back-burner?utm_source=rss_feed Fri, 08 May 2026 05:17:18 +0000 Aidan Jones Aidan Jones A bonfire of red tape to unleash investment and complete stalled projects across Vietnam may drive economic expansion but is unlikely to offset the damage caused by US tariffs and the fuel crisis which have threatened the country’s growth ambitions. Vietnam’s Communist Party General-Secretary and President To Lam, the most powerful leader in a generation, has set an annual growth target of 10 per cent until 2030 to galvanise a nation whose ponderous bureaucracy has snarled private investment and... https://www.scmp.com/week-asia/economics/article/3352808/can-vietnams-bureaucracy-reform-boost-investment-amid-growth-threats?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3352808/can-vietnams-bureaucracy-reform-boost-investment-amid-growth-threats?utm_source=rss_feed Fri, 08 May 2026 00:00:17 +0000 Biman Mukherji Biman Mukherji India’s military is exploring alternative energy sources amid surging oil and gas prices caused by supply disruption from the Iran war, a trend that analysts say is set to accelerate among Asian countries heavily dependent on energy imports. According to local media reports, the Indian army plans to get biogas stoves to replace natural gas-fired appliances for cooking. It is also exploring the use of green fuels for army vehicles and administrative work, as well as solar and wind power for... https://www.scmp.com/week-asia/economics/article/3352787/indias-military-turns-green-energy-options-iran-war-prompts-new-strategy?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3352787/indias-military-turns-green-energy-options-iran-war-prompts-new-strategy?utm_source=rss_feed Thu, 07 May 2026 11:47:52 +0000 Resty Woro Yuniar Resty Woro Yuniar Indonesia’s economy grew 5.6 per cent during the first quarter of 2026, its fastest pace in more than three years, but analysts warn that the coming months will pose significant tests for Southeast Asia’s biggest economy. Statistics body BPS attributed the growth to robust household consumption – which made up 54.36 per cent of gross domestic product and grew by 5.52 per cent year-on-year – and a surge in government spending. Amalia Adininggar Widyasanti, head of BPS and deputy minister for... https://www.scmp.com/week-asia/economics/article/3352750/indonesia-posts-fastest-first-quarter-growth-3-years-headwinds-loom?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3352750/indonesia-posts-fastest-first-quarter-growth-3-years-headwinds-loom?utm_source=rss_feed Thu, 07 May 2026 09:37:58 +0000 Iman Muttaqin Yusof Iman Muttaqin Yusof Malaysian King Sultan Ibrahim Iskandar arrived in Moscow on Thursday for a high-profile visit that comes as Kuala Lumpur looks for alternative oil sources amid a fuel crisis linked to the Iran war. Sultan Ibrahim landed at Vnukovo-2 International Airport at 4.20pm local time on Thursday, according to Malaysian reports, and was received by Russian Deputy Foreign Minister Andrey Rudenko, senior protocol officials and Malaysia’s ambassador to Russia, Cheong Loon Lai. The king is attending Russia’s... https://www.scmp.com/week-asia/economics/article/3352696/malaysian-kings-visit-russia-expected-smooth-path-oil-deal?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3352696/malaysian-kings-visit-russia-expected-smooth-path-oil-deal?utm_source=rss_feed Thu, 07 May 2026 03:48:18 +0000 Iman Muttaqin Yusof Iman Muttaqin Yusof Malaysia’s anti-corruption agency is seeking to charge two unnamed individuals over a 1.1 billion ringgit (US$278 million) semiconductor deal with British chip designer Arm Holdings, as former economy minister Rafizi Ramli returned for a third day of questioning in the same probe. The Malaysian Anti-Corruption Commission (MACC) said the investigation was nearing completion after officers recorded statements from 22 witnesses, including Rafizi and his former aide, political analyst James... https://www.scmp.com/week-asia/economics/article/3352636/malaysia-seeks-charge-2-over-us278-million-arm-semiconductor-deal?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3352636/malaysia-seeks-charge-2-over-us278-million-arm-semiconductor-deal?utm_source=rss_feed Wed, 06 May 2026 10:42:47 +0000 Resty Woro Yuniar Resty Woro Yuniar Indonesia has unveiled a new vision to transform the holiday island of Bali into a global finance hub inspired by destinations such as Dubai, Hong Kong and Singapore, but the tourist hotspot faces a raft of systemic and infrastructural hurdles before it can attain the lofty goal. Indonesian Chief Economic Minister Airlangga Hartarto earlier this week said the government was finalising regulations to establish a financial hub in the Kura Kura Special Economic Zone (SEZ) on Serangan island, 500... https://www.scmp.com/week-asia/economics/article/3352624/can-indonesia-turn-holiday-island-bali-global-financial-hub?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3352624/can-indonesia-turn-holiday-island-bali-global-financial-hub?utm_source=rss_feed Wed, 06 May 2026 09:42:29 +0000 Jean Iau Jean Iau With Singapore facing a global energy crisis due to the conflict in the Middle East, the “storm clouds” that Prime Minister Lawrence Wong warned of at an election rally last year now appear to be an understatement. Under the scorching midday sun at a lunchtime speech in the heart of the city, Singapore’s leader last April urged voters to re-elect his tested People’s Action Party (PAP), arguing that voting for the opposition would weaken his team’s ability to navigate coming headwinds. On top of... https://www.scmp.com/week-asia/economics/article/3352538/one-year-singapore-election-has-lawrence-wongs-team-delivered-promises?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3352538/one-year-singapore-election-has-lawrence-wongs-team-delivered-promises?utm_source=rss_feed Wed, 06 May 2026 00:00:12 +0000 Resty Woro Yuniar Resty Woro Yuniar Indonesia is moving to reshape its ride-hailing industry from the inside, with officials saying the state has acquired stakes in app companies as President Prabowo Subianto seeks to raise drivers’ earnings and rein in commission fees. The move could mark a significant shift in one of Southeast Asia’s biggest on-demand economies, where millions of drivers for platforms such as Gojek and Grab have become a highly visible labour force and, analysts say, a potent political bloc. Last week, Prabowo... https://www.scmp.com/week-asia/economics/article/3352510/indonesia-caps-ride-hailing-commission-fees-8-radical-correction-sector?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3352510/indonesia-caps-ride-hailing-commission-fees-8-radical-correction-sector?utm_source=rss_feed Tue, 05 May 2026 10:20:24 +0000 Minxiao Chang Minxiao Chang AI skills are becoming a clear salary advantage for Singapore’s software engineers, with those who have such capabilities earning up to 25 per cent more than their peers, according to a new salary report by NodeFlair. The Singapore-based tech talent platform said its findings came from more than 230,000 verified data points and showed software engineers with AI expertise commanded a 13 to 25 per cent pay premium across experience levels. That marks a shift from 2024, when rising demand for AI... https://www.scmp.com/week-asia/economics/article/3352246/singapore-software-engineers-ai-skills-earn-25-more-no-longer-nice-have?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3352246/singapore-software-engineers-ai-skills-earn-25-more-no-longer-nice-have?utm_source=rss_feed Mon, 04 May 2026 00:00:16 +0000 Tom Hussain Tom Hussain Middle Eastern governments are dusting off decades-old proposals for overland oil and gas pipelines, and urgently drawing up plans for new rail-sea transport corridors in a belated response to the wartime disruption of major maritime trade through the Strait of Hormuz and the Red Sea. With the threats to these key shipping lanes and economic infrastructure set to linger after the multifront conflict between the US-Israel alliance and the Iran-led Axis of Resistance draws to a close, other... https://www.scmp.com/week-asia/economics/article/3352166/middle-east-states-eye-transport-resilience-new-logistics-corridor-bypass-hormuz?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3352166/middle-east-states-eye-transport-resilience-new-logistics-corridor-bypass-hormuz?utm_source=rss_feed Sun, 03 May 2026 02:30:08 +0000 Sam Beltran Sam Beltran Singapore and Thailand ranked among the world’s “least miserable” economies in an annual index compiled by a Johns Hopkins University economist, who said Southeast Asia was one of the “healthiest economic neighbourhoods” in the world. The 2025 Hanke’s Annual Misery Index (HAMI), compiled by applied economics professor Steve Hanke, measures the “economic temperature” of a country and seeks to approximate how its average citizen experiences the economy. This year’s HAMI found that several... https://www.scmp.com/week-asia/economics/article/3352182/why-singapore-thailand-are-among-worlds-happiest-economies?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3352182/why-singapore-thailand-are-among-worlds-happiest-economies?utm_source=rss_feed Fri, 01 May 2026 12:58:39 +0000 Aisyah Llewellyn Aisyah Llewellyn A horrific train crash that killed 16 passengers on the outskirts of Jakarta has prompted Indonesia’s President Prabowo Subianto to pledge 4 trillion rupiah (US$230 million) to overhaul level crossings across Java after officials identified one such intersection as a key point in the chain collision. The pledge targets one of the key weaknesses in Indonesia’s rail network: crossings that are unguarded, poorly maintained or haphazardly created by local communities. Transport analysts said the... https://www.scmp.com/week-asia/economics/article/3352157/deadly-train-crash-indonesia-exposes-severe-safety-gaps-dangerous-crossings?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3352157/deadly-train-crash-indonesia-exposes-severe-safety-gaps-dangerous-crossings?utm_source=rss_feed Fri, 01 May 2026 10:16:18 +0000 Biman Mukherji Biman Mukherji Asia’s gold rush is starting to lose some of its lustre, as surging oil prices due to the Iran war dampen rate-cut hopes that recently helped fuel one of the metal’s strongest rallies in years. A surge in energy costs has revived inflation concerns and made central banks less likely to cut rates, and this has made interest-bearing assets more attractive, according to analysts. Gold prices fell by 12 per cent from US$5,247.90 per troy ounce on February 27 to US$4,620 on Friday morning. The metal... https://www.scmp.com/week-asia/economics/article/3352153/gold-loses-its-shimmer-asia-over-rising-oil-prices-hawkish-fed-stance?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3352153/gold-loses-its-shimmer-asia-over-rising-oil-prices-hawkish-fed-stance?utm_source=rss_feed Fri, 01 May 2026 09:34:58 +0000 Kolette Lim Kolette Lim Singapore Prime Minister Lawrence Wong has sought to reassure workers amid concerns about the AI revolution, vowing that the city state will carve out fresh opportunities even as the new technology renders some jobs obsolete. In the annual May Day rally on Friday, Wong acknowledged the anxieties but urged workers and firms to build artificial intelligence capabilities and harness its benefits. Demand would rise for AI-savvy workers, and new doors would open as global companies expanded their... https://www.scmp.com/week-asia/economics/article/3352118/singapores-lawrence-wong-reassures-workers-over-ai-fears-vows-job-opportunities?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3352118/singapores-lawrence-wong-reassures-workers-over-ai-fears-vows-job-opportunities?utm_source=rss_feed Fri, 01 May 2026 05:35:46 +0000 Biman Mukherji Biman Mukherji Pakistan’s bid to mediate between the US and Iran has put Islamabad near the centre of efforts to defuse the Middle East conflict, but with no lasting peace yet in sight, its fragile economy is becoming increasingly exposed to the fallout from the war. While soaring oil prices and disrupted flows through the Strait of Hormuz have led to turmoil in global energy markets, analysts said Pakistan has especially limited room to absorb the blow because of its thin foreign exchange reserves, dependence... https://www.scmp.com/week-asia/economics/article/3352061/pakistans-imf-backed-recovery-under-pressure-us-iran-mediation-stalls?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3352061/pakistans-imf-backed-recovery-under-pressure-us-iran-mediation-stalls?utm_source=rss_feed Thu, 30 Apr 2026 12:28:41 +0000 Biman Mukherji Biman Mukherji Sri Lanka’s loss-making Mattala Rajapaksa International Airport will need a complete overhaul if it wants to attract investors, analysts warn, after a 30-year lease agreement with an Indo-Russian joint venture failed commercially. The nation’s second international airport, built with Chinese loan, is located near a wildlife sanctuary on the island’s southern coast. It has no regular flights. Since opening in 2013, the small airport has failed to generate enough revenue to cover even its... https://www.scmp.com/week-asia/economics/article/3351962/sri-lankas-investor-call-worlds-emptiest-airport-struggling-get-ground?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3351962/sri-lankas-investor-call-worlds-emptiest-airport-struggling-get-ground?utm_source=rss_feed Thu, 30 Apr 2026 06:03:44 +0000 Maria Siow Maria Siow Common security interests in the region have led to Japan’s unprecedented sharing of its Mogami-class warships with India, according to analysts. The move dovetails with New Delhi’s drive to localise industrial and defence production. Enhanced naval capabilities will also allow India to become a “security provider” in the Indian Ocean. Japan offered India its Mogami design plans and the option to build the frigates in Indian shipyards using Japanese materials, according to recent reports from... https://www.scmp.com/week-asia/economics/article/3351945/why-japan-sharing-its-guarded-mogami-warship-design-india?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3351945/why-japan-sharing-its-guarded-mogami-warship-design-india?utm_source=rss_feed Thu, 30 Apr 2026 04:12:12 +0000 Biman Mukherji Biman Mukherji Brics nations are assessing whether a digital payments framework linking their currencies could lessen the impact of Western sanctions, tariffs and US dollar volatility without destabilising the Washington-led global financial system. Under the plan proposed by India’s central bank, Brics is looking to allow cross-border transactions to be settled in local currencies. Its feasibility depends on how far the bloc’s members can lessen their reliance on Western-controlled payment channels without... https://www.scmp.com/week-asia/economics/article/3351860/brics-push-intra-currency-payments-immunity-against-western-clout?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3351860/brics-push-intra-currency-payments-immunity-against-western-clout?utm_source=rss_feed Thu, 30 Apr 2026 00:00:23 +0000 Aidan Jones Aidan Jones Thailand’s vision for a land bridge splits opinion: some see it as a crucial new Asian trade route for a global economy held hostage by geography, while others view it as an expensive and environmentally ruinous distraction for a kingdom with plenty already on its plate. But to its backers, the proposed road and rail corridor, bookended by ports on the Gulf of Thailand and another 90km (56 miles) away on the Andaman Sea, to bypass a vital chokepoint, has never felt more urgent. Iran’s virtual... https://www.scmp.com/week-asia/economics/article/3351797/hormuz-crisis-revives-thailands-land-bridge-plan-business-case-still-lacking?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3351797/hormuz-crisis-revives-thailands-land-bridge-plan-business-case-still-lacking?utm_source=rss_feed Wed, 29 Apr 2026 05:08:21 +0000 Biman Mukherji Biman Mukherji Asia’s oil import-dependent economies will benefit from the United Arab Emirates’ (UAE) exit from Opec, though the ongoing closure of the arterial Strait of Hormuz may not offer any immediate relief from soaring prices, analysts say. Global oil prices continued to surge on Wednesday, with benchmark Brent crude oil prices hitting US$111 a barrel and US West Texas Intermediate (WTI) approaching US$100 a barrel. Before the Iran war, Brent was trading around US$70 a barrel, while WTI was about US$65... https://www.scmp.com/week-asia/economics/article/3351776/why-uaes-exit-opec-good-news-asias-energy-security?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3351776/why-uaes-exit-opec-good-news-asias-energy-security?utm_source=rss_feed Wed, 29 Apr 2026 03:23:16 +0000 Resty Woro Yuniar Resty Woro Yuniar Jakarta’s move to press on with importing 150 million barrels of Russian oil despite latest EU sanctions against an Indonesian port underscores a growing divide between Western efforts to isolate Moscow and Asia’s push for energy security. On Thursday, the European Commission announced its 20th package of sanctions against Russia, which includes Indonesia’s Karimun Oil Terminal for its “connections with the shadow fleet and circumvention of the oil price cap”. The sanction on Karimun, located in... https://www.scmp.com/week-asia/economics/article/3351703/energy-security-comes-first-indonesia-it-defies-eu-over-russian-oil?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3351703/energy-security-comes-first-indonesia-it-defies-eu-over-russian-oil?utm_source=rss_feed Tue, 28 Apr 2026 11:00:20 +0000 Biman Mukherji Biman Mukherji A free-trade agreement signed between India and New Zealand has marked yet another regional push towards diversification and away from overdependence on major powers. The deal, which comes after 15 years of on-and-off negotiations, gained urgency in recent weeks as Indian exporters contend with the closure of the Strait of Hormuz and steep American tariffs that have rattled supply chains. New Zealand, for its part, has been pursuing a strategy to reduce dependence on China, its largest trading... https://www.scmp.com/week-asia/economics/article/3351708/india-new-zealand-boost-trade-diversification-forward-looking-pact?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3351708/india-new-zealand-boost-trade-diversification-forward-looking-pact?utm_source=rss_feed Tue, 28 Apr 2026 10:00:28 +0000 Maria Siow Maria Siow Iran’s closure of the Strait of Hormuz in the Middle East has turned the spotlight on a strategic waterway thousands of miles away in Southeast Asia, with littoral states having different ideas on how to control their stake. Indonesian officials last week flirted with the idea of imposing tolls for passing vessels in the Strait of Malacca. Malaysia and Singapore, however, have insisted that navigation in the vital corridor remains free. The likelihood of tolls in the strait is low thanks to... https://www.scmp.com/week-asia/economics/article/3351687/why-asean-cooperation-remains-primary-shield-against-malacca-strait-tolls?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3351687/why-asean-cooperation-remains-primary-shield-against-malacca-strait-tolls?utm_source=rss_feed Tue, 28 Apr 2026 07:58:19 +0000 Sam Beltran Sam Beltran Across Southeast Asia, governments are seeking Russian oil and gas to ease fuel shortages triggered by the continuing chokehold on the Strait of Hormuz, a crisis that has sent energy prices higher and forced import-dependent countries to look beyond their usual suppliers. But analysts say the scramble for Russian fuel also raises a bigger question for the region: whether Moscow can turn a short-term role as an emergency energy supplier into longer-term influence there. Member states of the... https://www.scmp.com/week-asia/economics/article/3351613/will-aseans-scramble-russian-oil-fuel-shift-regional-alliances?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3351613/will-aseans-scramble-russian-oil-fuel-shift-regional-alliances?utm_source=rss_feed Tue, 28 Apr 2026 00:00:20 +0000 Julian Ryall Julian Ryall Japan is planning to build what could become the world’s largest floating wind farm – a gigawatt-scale project off the Izu Islands to power the island chain and Tokyo. But the plan, championed by Governor Yuriko Koike, is facing questions over whether it can be delivered by 2035. There are also doubts about the power generation forecast and whether Japan could tackle the technical demands of such a megaproject. Koike first announced the wind farm project at a climate change conference in... https://www.scmp.com/week-asia/economics/article/3351366/japan-aims-build-worlds-largest-wind-farm-can-it-power-2035?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3351366/japan-aims-build-worlds-largest-wind-farm-can-it-power-2035?utm_source=rss_feed Mon, 27 Apr 2026 00:00:17 +0000