Asia - South China Morning Post

Asian economies face the risk of renewed volatility in oil prices this year as analysts say the US capture of Venezuela’s leader Nicolas Maduro and uncertainty over Washington’s plans for the oil-rich South American country may unsettle investor sentiment.

On Monday morning, Benchmark Brent crude opened about 1.2 per cent lower near US$61 a barrel, before falling further to US$60.54 in the early afternoon, while US West Texas Intermediate crude declined by 0.5 per cent to US$57.04 a barrel.

The...

The ‍United States could raise tariffs on India if New Delhi does not meet Washington’s demand to curb purchases of Russian oil, US President Donald Trump said on Sunday, escalating pressure on the South Asian country as trade talks remain inconclusive.

“[Prime Minister Narendra] Modi is a good guy. He knew I was not happy, and it was important ⁠to make me happy,” Trump told reporters aboard Air Force One.

“They do trade, and we can raise tariffs on them very quickly,” Trump said in response to...

A missile test by North Korea in the aftermath of the US capture of Venezuelan leader Nicolas Maduro signals what analysts have said is Pyongyang’s cautionary stance over the vulnerability of countries without credible military and nuclear deterrence.

While overseeing the launch of multiple missiles on Sunday, North Korean leader Kim Jong-un alluded to the US attacks on Venezuela and Maduro’s arrest a day earlier and Iran in June as justifications to bolster his nuclear arsenal.

The test of what...

A Japanese sushi entrepreneur paid a record US$3.2 million for a giant bluefin tuna on Monday at an annual prestigious new year auction in Tokyo’s main fish market, smashing the previous all-time high.

Dave Gershman at the Pew Charitable Trusts’ international fisheries team used news of the auction to highlight that stocks of Pacific bluefin tuna were improving after being “near collapse”.

The auction started when the bell rang, and the floor was filled with torpedo-shaped fish with their tails...

Malaysia’s defence ministry has ordered an internal investigation after viral social media posts alleged that unauthorised civilians had entered military camps for parties and other “immoral activities”, sparking a wave of online mockery as citizens use images of nuggets and sausages to express their outrage over the incident.

On Monday, the ministry said it had directed the armed forces to conduct an immediate probe to verify the allegations circulating online.

“The allegations do not reflect...

A former Philippine air force general accused of encouraging the military to abandon President Ferdinand Marcos Jnr was arrested on a charge of sedition on Monday at Manila’s international airport.

Romeo Poquiz, who had publicly called for the armed forces to “withdraw their support” from Marcos amid a burgeoning corruption scandal, was detained by police after returning from a holiday in Thailand, interior department secretary Jonvic Remulla said.

“He was arrested for the charge of sedition in...

Philippine President Ferdinand Marcos Jnr on Monday signed into law the 2026 budget worth 6.793 trillion pesos (US$115 billion) as his administration aims to revive an economy stunted by a government corruption scandal.

While the 2026 budget was 7 per cent higher than last year’s spending plan, the president cut nearly US$1.6 billion in so-called unprogrammed appropriations that are historically prone to corruption.

Marcos approved the 2026 budget later compared to previous years, as allocations...

Malaysia’s northeastern state of Kelantan plans to issue licences for small-scale gold panning, formalising a practice that has long existed on its riverbanks and promising a modest boost for low-income residents as gold prices hover near historic highs.

The state government opened applications for official licences on January 1, allowing residents to pan for gold manually in designated areas, according to state news agency Bernama.

The move targets daily wage earners and those in irregular...

Ahn Sung-ki, one of South Korean cinema’s biggest stars whose prolific 60-year career and positive, gentle public image earned him the nickname “The Nation’s Actor”, died on Monday. He was 74.

The death of Ahn, who had been fighting blood cancer for years, was announced by his agency, the Artist Company, and the Seoul-based Soonchunhyang University Hospital.

“We feel deep sorrow at the sudden, sad news, pray for the eternal rest of the deceased and offer our heartfelt condolences to his bereaved...

It started in earnest in March, with a swathe of palm-oil estates seized from a tycoon caught up in corruption allegations. Nine months later, a drive overseen by Indonesia’s defence minister has brought an area the size of Switzerland under state control.

The campaign, outwardly a push to improve governance, is a show of force by President Prabowo Subianto, an ex-general who has regularly railed against both Indonesian elites and foreigners for profiting off the country’s resource riches at the...