ASIA

China confirms discussions are underway on a historic Xi-Trump-Putin meeting

Beijing has officially indicated it is coordinating a meeting between the leaders of China, the U.S., and Russia. This historic gathering may take place in Shenzhen later this month during a regional summit. Experts suggest the discussions will likely be superficial and primarily focused on optics rather than substantive issues. Both the U.S. and China are dealing with ongoing trade tensions and disagreements over multiple topics.

Trump discusses West Asia de-escalation with Qatar's emir; at least 30 killed in airstrikes in Yemen

US President Trump spoke with Qatar's Emir Sheikh Tamim about reducing tensions in West Asia. They focused on Qatar's mediation efforts to achieve security and stability in the region. In Yemen, airstrikes on a market resulted in the deaths of at least 30 people amidst ongoing conflict. Meanwhile, Italy's Foreign Ministry is seeking the release of detained Italians in the West Bank.

Piyush Goyal to visit Egypt with big business delegation; India eyes trade, investment partnerships

Commerce Minister Piyush Goyal will visit Egypt next week with a large business delegation to explore investment and collaboration in sectors including startups, fintech, pharmaceuticals and automobile components. The visit comes as India seeks to deepen its strategic engagement with West Asia and position Egypt as a gateway to African, Arab and European markets.

Cybercrime networks shift to smaller, mobile scam operations amid enforcement pressure: FATF

In its report released from Paris, the global money-laundering watchdog said large, fortified compounds where cyber slaves were forced to commit financial cybercrimes are being moved to apartments, houses, hotels and office floors, sometimes rebranding as legitimate outsourcing or marketing firms.

India's 10-year bond posts best week in 7 years, leads emerging Asia as oil slides

This week, Indian government bonds saw a remarkable performance, outpacing other Asian markets as benchmark yields dropped significantly. Following the Democratic win in the US midterms, crude prices fell sharply, enticing foreign investors back to purchase a significant volume of Indian bonds. This shift alleviates pressure on the Reserve Bank of India to maintain elevated yields, contributing to a positive outlook for Indian debt moving forward.

900-year-old book records Kashmir's kings and their wars, now earns UN recognisition along with Mahabharata and Chanakya's Arthashastra

UNESCO has added Kalhana's Rajatarangini, the Mahabharata and Kautilya's Arthashastra to its Memory of the World Regional Register for Asia and the Pacific. The decision was taken at the committee's 11th session in Jakarta, taking India's total regional inscriptions to six, following three recognitions in 2024.

India bonds emerge as top Asian performers as oil, Treasury yields decline

This week, Indian government bonds saw a positive trend following a Democratic win in the U.S. midterm elections. The reduction in oil prices and Treasury yields eased rupee pressure, boosting investor confidence. The benchmark bond yield improved significantly, declining by approximately 22 basis points. Furthermore, the surge in foreign investments into Indian bonds marked a notable high since July, leading to enhanced overall market sentiment.

AI meltdown: Kospi crashes 9%, hits 9-month low as Wall Street bloodbath after midterm elections spills to Asia; circuit breaker triggered

The sell-off followed a global market rout on Thursday, which saw the Nasdaq 100 plunge 6.4%, wiping out a record $2.3 trillion in market value. The weakness extended across Asia on Friday, with chip-heavy indices coming under pressure. Japan's Nikkei 225 Stock Average and Taiwan's Taiex were also on course to enter technical bear market territory, having fallen 20% from their respective peaks.

Asia fuel oil benchmarks slump as market prices in potential Iran war de-escalation

Asian fuel oil benchmark prices underwent a steep decline this week, driven by expectations of heightened supplies from the Middle East. The shifting political landscape in the US Congress has ignited hopes for peace talks in the region. Simultaneously, enhanced supply conditions, particularly from UAE fuel oil exports, have emerged. While freight rates have shown some easing, they still exert pressure on cargo movements from Europe to Asia.

Upbeat earnings bolster case for India stocks as Asia wavers

Indian equities are outperforming Asian peers, supported by stronger-than-expected corporate earnings, improving valuations and renewed foreign investor inflows. September-quarter profits rose 20% among major companies, boosting market sentiment. However, elevated oil prices, currency pressures and slower earnings upgrades remain key risks to sustaining the rally.

Odisha signs MOU with J-PAL South Asia to strengthen evidence-based policymaking

The Government of Odisha has signed a three-year MoU with Abdul Latif Jameel Poverty Action Lab. This agreement aims to strengthen evidence-based policymaking through research and collaboration. J-PAL South Asia will support various governmental departments to address their policy priorities effectively. A Steering Committee will oversee the partnership and monitor project development every six months. The collaboration builds on ongoing efforts to improve areas such as education, sanitation, and governance.

From enterprises to SMBs: How Flashfox AI plans to change the hiring game

GetWork’s AI hiring business, now spun off as Flashfox AI, is targeting 500 enterprise clients in the next 24 months as it expands into Southeast Asia and the Middle East.

India adds 34 new universities to QS Asia rankings; top six slip

QS Asia University Rankings 2027: India has strengthened its higher education system, with 325 universities ranking in QS World University Rankings: Asia 2027. While the country added 34 new institutions, its leading universities experienced declines in their rankings. Indian Institute of Technology Delhi remained the highest-ranked institution but fell to 66th position. Despite setbacks, India excelled in research output relative to academic staff among Asian countries.

Singapore's Grab lifts 2026 forecasts on strong ride-hailing, delivery demand

Singapore's Grab lifted its annual forecasts on Tuesday, helped by steady growth in its ride-hailing unit, while demand for its delivery services benefited from promotional offers and expansion into categories beyond groceries.

India to host IORA foreign ministers amid Gulf energy supply concerns

India plans to host foreign ministers from various Indian Ocean Region countries later this month. The meeting will occur amid ongoing energy supply challenges stemming from the conflict in West Asia. Key discussions will revolve around predictable supply chains and energy supply disruptions. This ministerial meeting is part of India's preparations for the upcoming IORA summit in 2027.

DHL Express appoints Sandeep Juneja to lead business in South Asia and India

DHL Express has appointed Sandeep Juneja as senior vice-president for South Asia and managing director for India, effective November 1. He succeeds R S Subramanian, who will move to Blue Dart as managing director.

Hinduja's Gulf Oil scouts acquisitions in Asia, South America ahead of global listing

Hinduja Group-owned Gulf Oil Lubricants plans to re-enter Mexico and the US in 2027 as it accelerates overseas expansion and scouts acquisitions in South America and Southeast Asia. The group is also considering a global listing of Gulf Oil International in three to five years, while expanding manufacturing capacity in India.

Ascentium eyes India acquisitions to build Asia-focused global services platform

Singapore-headquartered Ascentium is looking to expand its India presence through acquisitions as it builds an Asia-focused global corporate services business. Backed by Hillhouse Investment, the firm has completed seven acquisitions in India since 2019 and is negotiating another, with plans to consolidate specialist firms and challenge established players in the market.

Reliance Industries expands fuel exports to Africa, Europe as West Asia conflict disrupts supplies

Reliance Industries has redirected fuel exports to Africa, the Mediterranean and other European markets to capitalise on supply disruptions caused by the West Asia conflict, lifting its market share in these regions by about 50%. The strategy helped drive record quarterly earnings for its oil-to-chemicals business as global refining margins surged.

Global business school applications fall 10%; Indian students increasingly turn to Europe, Asia: GMAC report

Global applications for graduate management education programmes declined by 10% for the 2026-27 class. Europe and Asia reported growth, while the US, UK, and Canada saw decreases. Indian applicants are increasingly favoring Europe and Asia for education opportunities. Domestic applications also fell in the US and Canada, primarily due to changes in visa and immigration policies. The report suggests a realignment in candidate preferences and study destinations.

Bihar Museum ranked in top 10, Becomes Asia's highest-ranked museum ahead of New York's Metropolitan Museum Of Art; check top 10

Bihar Museum has achieved an impressive milestone by being named the ninth best museum worldwide in the 2026 rankings, securing the top spot in Asia. Located in Patna, the museum showcases a rich variety of historical and cultural artifacts. This esteemed recognition shines a light on Bihar's diverse cultural heritage and its significant contributions to the broader tapestry of Indian history, firmly establishing its place on the global museum stage.

West Asia conflict drives 15-20% rise in corporate working-capital demand at banks

Working-capital demand from banks has increased significantly due to the ongoing conflict in West Asia. Higher raw-material costs and elongated shipping timelines have led to greater funding needs for corporates. Mid- and large-sized companies reported a 12-20% increase in working-capital requirements. Several private sector banks have recorded strong growth in corporate lending during the recent quarter. This momentum was driven primarily by working capital needs and refinancing efforts.

Can Asia keep growing as oil and debt bite? IMF’s Krishna Srinivasan explains