World News by Wild Rose

The Asian Infrastructure Investment Bank (AIIB) plans to double its annual financing to about US$20 billion by 2030 as the Beijing-headquartered multilateral lender enters its second decade, its president said on Monday. Announcing the target at the opening of the bank’s 11th annual meeting in Doha, Qatar, AIIB President Zou Jiayi said member economies had voiced a “remarkably consistent” need for greater project funding. “They need more infrastructure and more financing to build it,” Zou told...

Israel hopes to redirect goods from illegal Israeli settlements towards markets in Asia and South America.

For millions of Indians, buying a cup of chai or groceries from roadside vendors has come to mean reaching for their phones rather than wallets – a habit made possible by a system that has so far charged consumers nothing for such everyday transactions. Now, a decade after the government launched the Unified Payments Interface (UPI), India is asking some merchants to pay for the hugely popular system – raising questions over whether it can preserve the low-cost model that drove its mass adoption...

Insight with Haslinda Amin, a daily news program featuring in-depth, high-profile interviews and analysis to give viewers the complete picture on the stories that matter. The show features prominent leaders spanning the worlds of business, finance, politics and culture. (Source: Bloomberg)

Asian economies heavily dependent on imported energy are facing an even sharper squeeze after the shutdown of Saudi Arabia’s East-West pipeline removed a key escape route from the disruption in the Strait of Hormuz, deepening an energy shock that has already pushed crude oil above US$100 a barrel. Analysts said the loss of that bypass would hit Asian refiners first before feeding through to inflation, currencies and economic growth across the region. Saudi Arabia, the world’s largest oil...

Singapore Airlines was awarded the title of world’s best airline in the annual rankings by Skytrax, taking the top spot from Qatar Airways in a year that saw Middle Eastern carriers come under significant pressure from the ongoing war in Iran. The award, which is based on a survey of almost 25 million travellers, was announced in London on Friday, with a list dominated by Asian carriers. Only one European airline – Air France-KLM – made the top 10, and not a single US company, despite their...

We have selected seven stories from this week’s news across Hong Kong, mainland China, the wider Asia region and beyond that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing. 1. China launches Pinglu Canal, slashing transit time to Southeast Asia China officially opened its landmark Pinglu Canal to navigation on Wednesday, creating a new maritime gateway for the country’s southwestern hinterland and providing...

Hong Kong has retained its status as Asia’s top financial hub for a fourth consecutive edition of the Global Financial Centres Index (GFCI), even as many of the world’s leading centres saw their scores slip slightly amid rising geopolitical headwinds. The city also ranked third globally in the 40th edition of the twice-yearly report, released on Wednesday amid a remarkably tight race at the top of global finance. Hong Kong scored 756, just one point behind London on 757 and a point ahead of...

The loss of a fifth of liquefied natural gas supply due to the US-Iran war is blowing out costs for Asia’s developing markets, and forcing a rethink of the fuel’s long-term future in the region.

South Korea’s main stock exchange is extending into evening sessions, breaking with Asia’s trading-hour norms to tap what it hopes will be sustained demand from global investors.

"Bloomberg: The Asia Trade" brings you everything you need to know to get ahead as the trading day begins in Asia. Bloomberg TV is live from Tokyo and Sydney with Shery Ahn and Haidi Stroud-Watts, getting insight and analysis from newsmakers and industry leaders on the biggest stories shaping global markets. (Source: Bloomberg)

The Asian Infrastructure Investment Bank (AIIB) is developing a new platform to pool capital from institutional investors, aiming to roughly quadruple the private capital it mobilises for infrastructure projects across Asia, according to a senior officer. The mechanism will allow insurers, pension funds, and other institutional investors to co-invest in infrastructure debt alongside the bank across its 111 member countries on a programmatic basis, rather than negotiating deal by deal. Kim-See...

The index has recorded muted daily moves for 25 straight sessions, the longest such run this year.

Asian stocks were set to edge lower as tensions in the Middle East pushed oil prices higher, adding to inflation concerns and keeping investors wary of the prospect of further monetary tightening. The yen held gains near its highest level since February.

Philanthropic giving in nine Asian jurisdictions is projected to hit US$1.5 trillion over the next decade, while corporate contributions play a larger role in Hong Kong than in many regional peers, according to a new report released at a Jockey Club forum. The Commission on Asian Philanthropy released its interim report on Monday, while the Hong Kong Jockey Club Charities Trust revealed in a separate report that it had contributed around 1.8 per cent of the city’s gross domestic product (GDP) in...

Stocks in Asia were poised to rise Friday, tracking gains on Wall Street as investors pared bets on a Federal Reserve rate hike this month. The yen held its biggest gain in over a month and oil rose.