Economies.
Wellcome Survey Details Heat Risks to Maternal Health; Adaptation Funding Falls Short
A global survey by Wellcome found nearly all maternity workers treated patients affected by extreme heat, as UN climate chief Simon Stiell noted a significant gap in climate adaptation finance for developing nations.
US Job Growth Misses Forecasts at 29,000, Unemployment Rises to 4.2%
September's nonfarm payrolls fell short of consensus economist estimates, with annual wage increases slowing to 3%, the lowest since 2021, easing inflation concerns.
Japan's Finance Minister: Government clarifies Takaichi's policy stance
Finance Minister Satsuki Katayama stated the government began adjusting its messaging in late August to address market concerns about reflationary policies.
Singapore Manufacturing PMI Rises to 51.7 in September
Driven by strong AI-related demand, the Republic's manufacturing activity expanded for a 14th consecutive month, showing increased orders and production.
Telangana Approves ₹2,500 Crore Annual DA for State Workers
The state cabinet confirmed the release of two Dearness Allowance instalments for employees and pensioners, adding to its recurring expenditure.
India's EPFO Campaign Offers Provident Fund Coverage to Past Workers
The Employees’ Enrolment Campaign 2026, active until October 31, allows businesses to regularise provident fund benefits for staff previously outside the formal system.
USAID Cuts Create US$1 Billion Green Funding Gap, Report Says
A new analysis from One Earth Partners details how the 2025 termination of USAID's environmental funding has impacted projects and economies in Vietnam, Bangladesh, and other nations.
JTI Philippines backs unified e-cigarette tax to curb smuggling
The proposed P72.9 excise rate from 2027 aims to close loopholes exploited by illicit traders and increase government collections.
Singapore to issue S$190 utility rebates to one million households
The measure in October 2026 will help over one million public housing residents offset living costs, alongside falling electricity and gas tariffs for the quarter.
Malaysia establishes sustainability body, backed by Securities Commission
The Association of Sustainability Professionals will launch by end 2026, aiming to standardise practices and support businesses in meeting reporting requirements.
Singapore PM Wong Urges Economic Discipline in Policymaking
Prime Minister Lawrence Wong, also Finance Minister, emphasised the enduring value of core economic principles – price, cost, and incentives – for sound policy decisions, even amid pressure for quick fixes.
Vietnam Tea Exports to US Rise 36% on Higher Prices, Volumes
Vietnam recorded US$7.64 million in tea shipments to the United States during the first eight months of 2026, driven by a 22% rise in volumes and a 12% increase in average prices per ton.
RBI Publishes Advisory Report on State Government WMA Limits
India's central bank today released findings from a committee reviewing financial accommodation facilities and Ways and Means Advances (WMA) limits for state governments.
US Fisheries Agency Plans Looser Domestic Fishing Rules
The US National Oceanic and Atmospheric Administration (NOAA) Fisheries released 34 priorities on 2 September, intending to reduce restrictions on where, when and how fishers operate.
Climate adaptation: Asia-Pacific faces US$27bn annual flood losses
A new survey of 18,000 people shows deep concern over global warming's effects on jobs and living costs, with businesses expected to deliver solutions.
Singapore's August Factory Output Surges 15.4%, Misses Estimates
While Singapore's manufacturing production expanded year-on-year in August, seasonally adjusted monthly output saw a slight contraction, falling short of analyst forecasts.
US, China agree 10m tonnes coal imports, pursue tariff cuts
Beijing will import 10 million metric tons of US coal annually in 2027 and 2028, with both nations pursuing tariff reductions on US$30 billion in goods.
Johor Sees RM59.4bn H1 2026 Investments; JS-SEZ Impact Undefined
Malaysia's Johor state attracted RM59.4 billion (US$14.6 billion) in approved investments during the first half of 2026, MIDA reported, though the specific contribution from the Johor-Singapore SEZ remains unclear.
Singapore Law Society Seeks CEO Amid Governance Review
The Law Society of Singapore has posted a job advertisement for a new Chief Executive Officer, tasked with strengthening the body's culture and governance following an internal audit and police investigation.
Philippine DOE forecasts P8 diesel cut on Saudi export return
The Department of Energy anticipates a P6 per litre reduction for kerosene, with a smaller P0.90 cut for gasoline still under review, following global market shifts.
US Mortgage Rates Exceed 7% to Two-Year High
The contract rate on a 30-year fixed mortgage reached 7.12% last week, marking the highest point since May 2024 and dampening home financing applications.
India Inc profits slide, FPIs pull out amid West Asia conflict
Foreign portfolio investors withdrew ₹60,847 crore from India in H1 FY27, as rising oil prices and a lack of AI investment opportunities impacted corporate earnings.
Philippines BIR publishes e-invoicing policies, 2026 compliance
The Philippine Bureau of Internal Revenue (BIR) published its implementing policies for electronic invoicing, requiring most businesses to comply by year-end 2026.
Philippines to halve retail bond volume as funding options widen
The Bureau of the Treasury plans to raise less than half of last year's amount from its upcoming retail treasury bond sale, considering alternative financing for the remainder of 2026.
South Korea seeks Mexico tax relief for 562 firms
National Tax Service Commissioner Lim Kwang-hyun highlighted value-added tax refund delays and double taxation in talks with Mexican tax chief Antonio Martinez Dagnino this week.
Delhi ITAT reverses ₹34.8 lakh 'unexplained cash' tax decision
India's Income Tax Appellate Tribunal ruled that a cash balance was not unexplained when linked to commission income already declared, overturning a prior assessment for a Delhi taxpayer.
ADB lifts South Korea's 2026 growth forecast to 3.2%
The Manila-based development bank cited strong exports and corporate earnings, largely driven by the artificial intelligence boom, for its upward revision.
South Korea's Early September Exports Jump 78% on Chip Sales
Outbound shipments hit a record $71.4 billion in the first 20 days of September, driven by a 259% surge in semiconductor sales, according to Korea Customs Service data.
Singapore Q2 2026 Layoffs Climb to Highest Since 2020
Singapore's Ministry of Manpower reported 4,620 retrenchments in Q2 2026, a significant rise driven by business restructuring in key outward-oriented sectors.
SBF Launches Future Ready Business Index, Targets 500 Firms by 2027
The Singapore Business Federation, in partnership with Boston Consulting Group, unveiled a new diagnostic tool today to help companies identify capability gaps and prioritise transformation efforts.
India: Central Staff Demand Insurance Hike, 8th Pay Commission
Central government employee groups in India are demanding updated insurance coverage and revised contributions under the CGEGIS scheme, citing decades of unchanged benefits, with a Group C cover of ₹1.5 lakh.
Philippines DOJ confirms agrarian reform programme ended 2014
The Philippine Department of Justice issued an opinion in March 2026, clarifying that the Comprehensive Agrarian Reform Program's sunset clause took effect over a decade ago.
John Lee unveils Hong Kong's first five-year financial hub strategy
Hong Kong's Chief Executive John Lee presented the city's first five-year blueprint this week, aiming to fortify its financial sector as a core economic strength.
India's 8th Pay Commission Hears Pensioner Demands for OPS Restoration
India's Chennai GPO Pensioners Forum urged the 8th Pay Commission to restore the Old Pension Scheme and increase pension benefits. The Commission, formed in November 2025, will finalise its recommendations by May-June 2027, impacting millions of government retirees.
Singapore raises ministerial salaries, tightens bonus targets
Prime Minister Lawrence Wong announced Singapore's first political salary increase in over a decade, linking pay to stricter national economic and social targets.
Philippines' 2027 Rice Harvest Faces Middle East Conflict, El Niño Risks
Philippines' 2027 rice harvest faces significant risks from Middle East conflict and El Niño. Rising fertiliser costs and water scarcity threaten domestic food supply, increasing import demand.
Metro Manila Wage Board Approves P60 Daily Pay Hike
The Metro Manila wage board has approved a P60 daily minimum wage increase. This new order aims to implement a portion of an earlier, larger hike, currently frozen by court injunctions.
Philippines targets 75% emissions cut by 2035, builds carbon market
The Marcos administration is actively seeking private investment for green projects and developing a tradable carbon credit market to meet its enhanced 2026 Nationally Determined Contribution.
Singapore Tightens Political Salary Bonus Criteria
Singapore’s government revised political salary performance metrics. Targets for unemployment, income growth, and real Gross Domestic Product (GDP) growth will tighten, reflecting a long-term economic outlook.
Vietnam Coffee Exports Hit $6B, Value Falls Despite Volume Rise
Vietnam's coffee exports reached over US$6 billion in the first eight months of 2026. This represented a 10% volume increase year-on-year, yet an 11.2% value decline due to lower prices.
India's August 2026 CPI inflation rises to 4.82%
India's consumer price index climbed in August, driven by higher food costs, though price changes varied significantly across everyday goods and services.
Indonesia Integrates Indigenous Land Data for Spatial Planning
Indonesia's government has combined data from its Ministry of Culture, the Ancestral Domain Registration Agency (BRWA), and AMAN to map 3,857 Indigenous communities. This initiative aims to strengthen policymaking and land recognition, potentially streamlining spatial planning.
Sri Lanka expands water schemes amid Colombo contamination concerns
New community water supply projects by the Department of National Community Water Supply aim to complete 197 outstanding schemes by 2027, addressing two decades of urban water quality decline.
Philippine Fuel Prices Jump Over P4 Per Litre, Exceed P100
The Department of Energy announced increases taking effect 15 September, pushing some Metro Manila gasoline and diesel costs past P100 per litre after two weeks of consecutive rises.
South Korea Finance Nominee Rules Out Corporate Tax Cut
Lee Hyoung-il, South Korea's finance minister nominee, confirmed Sunday he will not pursue corporate tax cuts, citing this year's rate restoration from 24% to 25%.
Punjab Employees End Strike After Disciplinary Action Pledge
The decision follows talks between employee unions and Chief Secretary KAP Sinha, who agreed to withdraw show-cause notices issued after a mass leave protest on 27 August.
Singapore details ministerial pay, entry-level salaries capped
The government confirmed entry-level ministers will not immediately receive SGD1.8 million annually, with a new framework introducing performance-based adjustments and a 9% cap on initial increases.
Shanmugam Affirms Temasek Firms' Commercial Autonomy
Senior Minister K Shanmugam stated that Temasek-linked companies must prioritise commercial judgement. They should operate without fear of political influence. This approach safeguards Singapore's long-term investment returns.
South Korea: Ministry Confirms Recovery, Exports Up 68.7%
The finance ministry's monthly Green Book report confirmed a sustained positive outlook, noting persistent Middle East war uncertainties despite August's strong semiconductor shipments.
Philippine Exporters Can Claim VAT Refunds While Awaiting Certification
The Bureau of Internal Revenue issued new guidelines on September 7, allowing export-oriented enterprises to recover Value-Added Tax on purchases made before receiving zero-rating status. This applies to VAT incurred from November 28, 2024, through December 31, 2025.
Manila Small Businesses Cut Staff, Take Loans Over Steep Garbage Fees
New municipal rules implemented in January 2026 have increased waste collection costs by up to 12 times for some enterprises, forcing staff reductions and loan applications to cover rising operating expenses.
China Arrests 52 Singaporeans in Guangxi Pyramid Scheme Crackdown
Chinese authorities in Guangxi province detained 52 Singaporean nationals for alleged involvement in pyramid scheme activities. Singapore's MFA and SPF confirmed the arrests.
Philippines Q4 Growth Forecast Exceeds Four Percent, UA&P Says
The University of Asia and the Pacific projects Philippine economic expansion above four percent in the final quarter of 2026, driven by infrastructure spending and demand.
Hong Kong Luxury Spending Fuels Uneven H1 Economic Recovery
Hong Kong's economy recorded its strongest half-yearly growth in nearly five years. High-end consumption and a polarised property market drive this recovery, with residential assets outperforming commercial spaces.
Singapore Tax Revenue Climbs 9.4% to S$97.3 Billion in FY2025–26
Singapore's tax revenue reached S$97.3 billion in the 2025–26 financial year, a 9.4% increase. This collection reflects robust economic activity and consumer spending, the Inland Revenue Authority of Singapore reported.
India Slashes Sugar Stock Limits, Producers' Shares Fall
India's government reduced sugar stockholding limits for dealers by half, effective September 15. This policy aims to curb hoarding and stabilise domestic prices. Major sugar producers' shares fell following the announcement.
Singapore Core Inflation Hits 2% in July on Energy, Food Costs
Singapore's core inflation reached 2% in July, driven by increased utility, food, and service expenses. This marks the fastest pace since October 2024, prompting scrutiny of household spending capacity.
India's Ministry of Health Expands Lifetime Benefits for Dependents
India's Ministry of Health now grants lifetime medical benefits to dependent sons and brothers suffering from critical or terminal illnesses. This policy update relaxes age and marital status requirements under the Central Government Health Scheme (CGHS).
BoK: South Korea Sept Inflation Eases, Core Pressures Persist
The Bank of Korea forecasts a moderation in headline inflation for September 2023. This change follows a fading statistical base effect. However, underlying price pressures, particularly in core items, persist.
South Korea August Inflation Hits 3.1%, Mobile Bills Distort Figure
South Korea's August consumer price increase reached 3.1%. Stripping out a surge in mobile communication bills, the figure drops to 2.5%.
South Korea imposes anti-dumping duties on Chinese butyl acrylate
Seoul's finance ministry will levy anti-dumping duties on Chinese butyl acrylate imports, citing harm to local industry. The measure aims to correct market distortions from low-priced goods.
Singapore to Auction S$3 Billion in Forfeited Luxury Assets
Singapore will progressively sell over 80 properties and more than 1,000 luxury items. These assets were forfeited from its S$3 billion money laundering case. Sales commence September 2026, concluding by mid-2027.
China Directs Carmakers to Halt Overseas Price Wars
Beijing has issued new guidelines for Chinese carmakers and component suppliers. They must avoid steep discounts in international markets, a move aimed at fostering long-term global competitiveness for the industry.
India's RBI: Lending Rates Mixed, Fresh Deposits Cheaper in July
India's central bank reported varied rate movements for commercial banks last month. Fresh rupee loans became slightly cheaper. However, outstanding loan rates rose, while deposit rates showed a mixed trend.
Singapore Expands Childcare Leave; Businesses Face Workload Shift
Singapore has expanded childcare leave entitlements to encourage higher birth rates. While parents welcome the change, non-parent employees voice apprehension about increased workplace responsibilities.
South Korea Names Lee So-young SMEs Minister
President Lee Jae Myung appointed two-term lawmaker Lee So-young as Minister for SMEs and Startups, ending a 61-day vacancy.
Philippines 2027 Budget Transparency: MAP, DEPDev Push CADENA Act
The Management Association of the Philippines (MAP) demands full transparency for the 2027 national budget. The Department of Economy, Planning and Development (DEPDev) will recommend the Citizen Access and Disclosure of Expenditures for National Accountability (CADENA) Act as a priority legislative measure.
Singapore Scam Losses Drop to S$410.6 Million in H1 2026
Singapore recorded fewer scam cases in the first half of 2026, but victims still lost S$410.6 million. Investment scams caused the largest financial impact, while business email compromise losses nearly tripled.
Singapore Leads Vietnam FDI in 2026 With US$7.5 Billion
Singapore became Vietnam's largest foreign direct investor in the first seven months of 2026. The city-state committed US$7.5 billion, representing over a third of total registered investment.
RBI: India's Domestic Economy Resilient in August
India's economy maintained strength in August 2026, driven by internal demand and activity. This occurred despite global geopolitical and trade uncertainties, the Reserve Bank of India stated in its monthly Bulletin.
Philippines Reopens Poultry Imports from Minnesota, Illinois
Manila has reopened its market to poultry and related products from Minnesota and Illinois. The Department of Agriculture cited the end of bird flu outbreaks in these US states.
Singapore Cannot Fully Trace Shipments for US Tariffs, PM Wong States
Singapore's Prime Minister Lawrence Wong stated the nation cannot realistically verify every product's supply chain. This addresses US demands regarding tariffs, forced labour, and rerouted goods. He highlighted a global trade environment increasingly shaped by security concerns.
Indonesia Constitutional Court Faces Land Rights Challenge Over Conservation Law
Indigenous groups in Indonesia are challenging parts of the 2024 conservation law in the Constitutional Court. They argue the legislation could allow the government to designate ancestral lands as conservation areas without community consent, creating legal uncertainty for land-intensive industries.
Experts Advise: Integrate AI Risks into Existing Corporate Governance, Not New Policies
Businesses should integrate artificial intelligence risks into their current corporate governance and disclosure systems, rather than developing separate policies. This approach demonstrates operational maturity and addresses immediate concerns.
India's EPFO Opens Compliance Window for Uncovered Workers
India's Employees’ Provident Fund Organisation (EPFO) launched a temporary scheme. It allows companies to formalise past employment records and enrol previously uncovered staff for social security benefits. The campaign runs until October 31, 2026.
Mumbai's BEST Electrification Sparks Driver Protests Over Pay, Job Security
Mumbai's public bus operator, BEST, is electrifying its fleet, but contractual models for e-buses are eroding driver pay and job security. This has sparked protests and safety concerns.
Malaysia's Civil Service Pension Bill Strains Public Funds
Malaysia faces escalating government pension costs. Payments are estimated to reach RM42.8 billion this year, consuming 12.5% of total revenue. This trend diverts funds from critical capital development and talent from the private sector.
Thai Industrial Confidence Rises in July, Fueled by EVs and State Stimulus
Thailand's industrial confidence rose for a second consecutive month in July. Electric vehicle sales and government stimulus measures supported the increase, the Federation of Thai Industries (FTI) reported.
Thai Leaders, World Bank Convene Bangkok Summit 2026 for Economic Restructuring
Thailand's Joint Standing Committee on Commerce, Industry and Banking (JSCCIB), with government agencies and the World Bank, convened the Bangkok Business Summit 2026 yesterday. The event aims to restructure the Thai economy, positioning the nation as a global investment hub ahead of major international meetings.
Singapore Increases Child Support to S$70,000 Per Child
Singapore will provide S$70,000 in direct financial support for each eligible child, from birth to age 17, under a new package. This measure addresses the nation's record-low birth rate and aims to ease parenting costs.
South Korea's Household Credit Exceeds ₩2,000 Trillion in Q2 2026
South Korean household credit surpassed ₩2,000 trillion in the second quarter of 2026, driven by rising home-backed and stock loans. This marks the seventh consecutive quarterly increase, despite government efforts to curb debt.
South Korea: BOK Expected to Hike 2026 Growth Outlook Above 3% on Exports
South Korea's central bank will likely raise its 2026 economic growth forecast beyond 3%, driven by stronger semiconductor exports and recovering domestic demand. This revision would mark an increase from its previous 2.6% projection made in May.
Singapore COE Premiums Climb; Industry Expects Sustained Highs
Singapore's Certificate of Entitlement (COE) premiums rose across all passenger car categories in the latest bidding. Automotive industry observers anticipate these elevated prices will continue, driven by a persistent supply shortfall.
Cambodia's Trade Deficit Widens to $2.44 Billion Through July
Cambodia's total trade volume reached $44.07 billion in the first seven months of 2026, a 21.3% year-on-year increase. This growth led to a widened trade deficit, hitting $2.44 billion, according to data from the General Department of Customs and Excise (GDCE).
Japan's Exports Reach Record ¥11.5 Trillion in July
Japan's overseas shipments climbed 23.2 per cent in July, hitting a record ¥11.5 trillion. This export strength supports the economy, countering weak domestic spending and strengthening arguments for the Bank of Japan to adjust monetary policy.
Thailand's Q2 GDP Growth Slowest Among Major Southeast Asian Economies
Thailand’s economy expanded 1.9% in the second quarter of 2026, marking the slowest growth among six key Southeast Asian nations. High energy costs significantly dampened domestic demand.
Thailand Commerce Ministry: Double-Digit Export Growth for 2026
Thailand's Commerce Ministry forecasts double-digit export growth for 2026, aiming for 12 trillion baht, despite an "unsatisfactory" second-quarter GDP.
India's Modi Details 2047 Chip, AI, Export Development Plan
Prime Minister Narendra Modi outlined India's long-term economic strategy. This plan aims for developed-nation status by 2047. Key pillars include semiconductor production, artificial intelligence training, and an export-focused trade policy.
Philippines House passes disinformation bill; critics urge AI governance
The Philippine House of Representatives approved a bill targeting online disinformation. Critics, including media advocates and AI ethicists, warn the measure may restrict free expression and call for comprehensive AI governance instead.
Thailand Finance Ministry Funds EV Public Transport Conversion
Thailand's Finance Ministry will subsidise public transport vehicle conversions to electric power, using emergency borrowing funds. The programme aims to cut fossil fuel reliance and boost clean energy adoption.
AIIB Warns 34% of Sovereign Borrowers Face 2050 Downgrades
The Asian Infrastructure Investment Bank projects climate inaction could cut credit ratings for over one-third of its government clients by 2050.
Thailand's Suphajee Details Four-Pillar Plan: Diversification, SMEs, Value Creation
Deputy Prime Minister Suphajee Suthumpun detailed Thailand's plan to boost sustainable economic expansion, focusing on market diversification, value creation, SME empowerment, and building global trust amid trade uncertainty.
Thai Shippers' Council Flags US Transshipment Report Risk
The Thai National Shippers' Council (TNSC) voiced concern over Thailand's inclusion in a White House transshipment report. This may reduce US confidence in Thai exports, potentially leading to stricter inspections and higher costs for businesses.
Philippines Proposes US$11 Billion Climate Budget; Tagging Questions Persist
The Philippines aims for a US$11 billion climate budget in 2027, a 6.8 per cent increase from 2026. This allocation faces scrutiny over its effectiveness and past corruption allegations.
Thai State Agencies Deploy Agentic AI for Fraud Detection, Service Delivery
Five Thai state agencies will implement agentic artificial intelligence (AI) to enhance complex administrative functions. This initiative aims to improve efficiency and fraud detection across land purchases, civil registration, and public services.
ICRA: India Q1 FY27 GDP Growth Slows to 7.0% Amid Tensions
India's gross domestic product growth likely eased to 7.0% in Q1 FY27, down from 7.8%, ICRA reported. Services sector deceleration and West Asia tensions drove the slowdown.
Vietnam Needs $227B–$231B Exports to Meet 2026 Target
Vietnam must generate up to $231 billion in exports during the final five months of 2026. This is required to achieve its full-year growth goal, creating significant pressure for exporters. Trade barriers, rising production costs, and increasing global competition pose challenges.
Japan Q2 GDP Growth Slows to 1.1% Annualised on Weak Spending
Japan's economy expanded at a slower 1.1 per cent annualised rate in the April-June quarter, government data shows. Weak household spending and business investment drove the slowdown, missing market forecasts.
Delhi Mandates EV Shift for Commercial Vehicles, Incentivises Private Owners
Delhi’s new Electric Vehicles Policy introduces registration deadlines for commercial electric vehicles and offers purchase incentives. However, critics argue the policy does not address underlying car dependence or environmental harm displacement.
Singapore Economists Lift 2026 Growth Forecasts Past MTI Range
Private-sector economists in Singapore have raised their full-year GDP growth forecasts for 2026. This follows an official upgrade and strong first-half performance, driven by AI-related investments.