State Asian Financial News

Coinbase has entered the Singaporean market as it has gained approval from the central bank to offer its crypto services in the city-state.

Azerbaijan Airlines this week may have been caused by a Russian anti-aircraft missile.

Singapore in September 2024 was his second official visit to Singapore, the first being in 2016. Globally, there have been significant changes between 2016 and 2024, but this visit symbolised an enduring continuity in relations between India and Singapore over the last few decades. This visit was significant for the key reasons.

Air transport is the only one direct option, but is useful only for expensive or perishable goods. The bulk of goods are delivered via Suez and Black Sea ports (Novorossiysk or others). As a result, the cargo travels triple the distance and several overloads along the route. High transport and logistics costs hinder the competitiveness of goods and the volume of mutual trade. Until now, the volume of mutual trade between India, Russia and Central Asia has been not so large (for example, $3.2 billion between India and five Central Asian countries in 2022). The obstacle is over huge delivery distances through the ports of the Black Sea or the Far East (7-10 thousand km).

India on Thursday made a big push to connect South Asia with SE Asia through The Bay of Bengal Initiative for Multi-sectoral Technical and Economic Cooperation (BIMSTEC) with Foreign Minister S Jaishankar hosting his counterparts from the group's member states, including Myanmar, and exploring possibility of expanding the group to include three SE Asian states that have Bay of Bengal linkages. In his opening remarks at the BIMSTEC Foreign Ministers' Retreat Jaishankar called upon the BIMSTEC countries to come up with own solutions which becomes even more imperative given the current global and regional scenario. «The BIMSTEC Charter, for a start, has come into effect from May 20 this year. The global and regional developments also make it imperative that we find more solutions amongst ourselves.»

Iran's Chabahar Port not only holds «great value» to landlocked Central Asian states but also «de-risks» commerce between India and Eurasia, Prime Minister Narendra Modi said on Thursday. External Affairs Minister S Jaishankar, who is in Astana to attend the SCO Summit, delivered Modi's remarks at the extended format meeting of the Shanghai Cooperation Organisation (SCO) Council of Heads of State here in the Kazakh capital. He also said, «While standing resolute on challenges, it is equally important to actively and collaboratively explore avenues of progress. The current global debate is focused on creating new connectivity linkages that would better serve a rebalanced world.» «If this is to gather serious momentum, it requires the joint efforts of many. It must also be respectful of the sovereignty and territorial integrity of states and be built on the foundation of non-discriminatory trade and transit rights to neighbours.»

SCO) Summit being held here under the Kazakhstan Presidency will adopt an important document to combat terrorism, separatism and extremism, echoing India's stand on countering terrorism and radicalisation in the Eurasian region. The July 3-4 summit will also discuss an anti-drug strategy to counter the rising menace of drug addiction. Recent arrests of terrorists in Kyrgyzstan and earlier in Tajikistan have established ISIS links emanating from Afghanistan. The Indian establishment has been closely monitoring the spread of ISIS influence in Eurasia and its impact across the border in India, ET has learnt. What has come to their notice is recent ISIS literature that aims to target India, according to sources.

Human Rights' (ECtHR) ruling on Tuesday in the case brought by Verein KlimaSeniorinnen Schweiz, a Swiss association of women senior citizens, breaks new ground by linking climate change to infringement of human rights, to the obligation of states to protect fundamental rights. The verdict makes it the state's duty to act to limit climate change.

By Guy Faulconbridge and Alexander Marrow

Thailand Prime Minister Srettha Thavisin stated that Taylor Swift's "The Eras Tour" will not be held in Thailand due to a contractual agreement with Singapore, preventing her from performing elsewhere in the ASEAN region. As reported by Thai Enquirer reported that Thai PM Thavisin had conversed with the concert organizer, who disclosed the existence of the agreement preventing Taylor Swift from performing in Thailand as part of “The Eras Tour".

Taliban envoy Badruddin Haqqani for Republic Day celebrations. He represents Afghanistan in Abu Dhabi. This gesture sparked significant debate.

The United States National Institute of Standards and Technology (NIST) and the Department of Commerce are soliciting members for the newly-established Artificial Intelligence (AI) Safety Institute Consortium. 

Foreign minister S Jaishankar, without naming China, asked Beijing to strictly adhere to the principles of international law while respecting the territorial integrity of each other, and criticised the Belt and Road Initiative (BRI) by stressing that such projects must not restrict participants from exercising their sovereignty. «SCO should work together to promote stability and prosperity in the region by strictly adhering to the principles of international law, respecting sovereignty and territorial integrity of each other and encouraging economic cooperation,» Jaishankar said during his address at the SCO Heads of Governments meeting in Bishkek. «In this context, the centrality of the interests of Central Asian states plays a key role.

capacity-building mechanisms to Central Asian states to counter terror and, without naming the BRI, called for ensuring connectivity initiatives that are consultative, transparent and participatory in nature. Doval also proposed to set up an India-Central Asia Rare Earths Forum for possible partnerships in the domain of rare earth and strategic minerals. This will also facilitate the participation of Indian private companies in this region for investments and joint economic development. Terrorism, in all its forms and manifestations, continues to constitute one of the most serious threats to international peace and security.

IMEC) and India-Israel-USA-UAE projects, China has launched dialogue across the region seeking to align BRI with Turkiye's Middle Corridor Initiative. Turkiye had decried IMEC, which is aimed at rivaling BRI in the region and this week's BRI summit in China is expected to witness efforts to align Ankara's Middle Corridor Initiative with BRI. The two sides recently held a high-level dialogue on the issue, ET has learnt. IMEC was announced on the sidelines of the G20 summit here in the presence of leaders of the USA, Saudi Arabia, India and Europe. Trans-Caspian East-West-Middle Corridor Initiative shortly named as 'The Middle Corridor', begins in Turkiye and passes through the Caucasus region via Georgia, Azerbaijan, crosses the Caspian Sea, traverses Central Asia and reaches China, according to a Turkish foreign ministry document.

WASHINGTON (Reuters) — Singapore's deputy prime minister said on Friday he hopes for substantial progress in the U.S.-led Indo-Pacific Economic Framework for Prosperity (IPEF) discussions in time for next month's Asia Pacific Economic Cooperation (APEC) summit.

ASEAN Summit in Jakarta will be extremely critical for all stakeholders particularly ASEAN members to drive home point on ASEAN solidarity amid major geo-political upheavals including in SE Asia and Indo-Pacific region. It is imperative for the ASEAN leaders under Indonesia’s presidency to reiterate ASEAN solidarity on key challenges including in the South China Sea region. The ASEAN should be united on matters of Code of Conduct negotiations with China.

The Kyrgyz Republic, a central Asian state bordering China, is reportedly growing its cryptocurrency mining powers with support of the local government.

China Pakistan Economic Corridor (CPEC) in the Non-Aligned Movement (NAM) document at a recent ministerial meet of the grouping in Baku (capital of Azerbaijan). India was also successful in nixing efforts by Pakistan (at China's behest) to include reference to South China Sea disputes in the NAM document, ET has reliably learnt. SE Asian states, who are members of NAM and party to the South China Sea dispute, worked closely with India to defeat plans by Pakistan, hinted persons familiar with the development.

There’s nothing like a struggling demerger on the home front to pique the interest of a cashed-up offshore investor.

India is looking to usher in a comprehensive and multifaceted partnership with the countries of Central Asia by leveraging the platform provided by the Shanghai Cooperation Organisation (SCO), people aware of the matter said. SCO is a prominent Eurasian grouping to ensure peace, stability, and security in the vast and resource rich region stretching from the borders of Europe to the Pacific, including China, Russia and Pakistan. India hosted SCO's latest summit virtually earlier this week where Iran became the ninth member of the grouping.

Shanghai Cooperation Organization (SCO) summit, Prime Minister Narendra Modi said that countries need to respect territorial integrity. «We do not see the SCO as an extended neighbourhood, but rather as an extended family. Security, economic development, connectivity, unity, respect for sovereignty and territorial integrity, and environmental protection are the pillars of our vision for SCO,» PM Modi said.