Malaysia and Australia pledged on Thursday to keep oil and gas flowing between them as the Iran war’s continuous squeeze on global fuel supplies compels regional countries to deepen energy trade cooperation.
Across Asia, governments have been scrambling for alternatives after crude oil and gas shipments from the Middle East were disrupted following Tehran’s move to choke access to the Strait of Hormuz in response to US-Israeli strikes against Iran that began on February 28.
The disruption has…
CBK gives banks ‘operational headroom’ to absorb potential shocks
New measures introduced by Kuwait’s Central Bank (CBK) signal the bank’s concerted efforts to respond proactively to the challenging geopolitical environment, experts have said.
Why Southeast Asian nations are hesitant to join major US-Philippine Balikatan drills
Balikatan, the flagship annual military exercise between Manila and Washington, begins in the Philippines this month without a single neighbouring Southeast Asian member taking part, despite the drills’ growing scale and multinational reach.
Analysts say that hesitation helps explain Balikatan’s place in the region: for some Asean members, it is a reassuring sign of US commitment, but joining it risks looking like a strategic choice in the sharpening rivalry between Washington and Beijing.
“To…
Malaysia’s content creators battle AI abuse as deepfakes, scam ads spread online
In Malaysia, artificial intelligence is already causing harm to content creators through deepfake nudes, cloned voices, scam advertisements and stolen likenesses, experts have warned.
They shared the view at the Freedom Film Network’s second International Conference on Film & Society in Kuala Lumpur on Wednesday, where creators, researchers and advocates from across Southeast Asia gathered under the theme “Cultivating Artistic Freedom in a Volatile World”.
Melissa Lim Shi Hui, a lawyer and legal…
What to expect as DIFC new crypto regulations take effect
Following the announcement of its new rules governing crypto token regulation in the Dubai International Financial Centre, the Dubai Financial Services Authority has issued additional guidance on how they will impact companies operating in the DIFC.
Malaysians urged to tighten their belts as Iran war fallout starts to bite
Malaysia’s government has urged the public to be ready to tighten their belts over an extended period, with the full effects of the energy crisis triggered by the Iran war expected to kick in as soon as June after the country’s economic buffers run their course.
Domestic gas production and costly fuel subsidies have so far shielded the country’s population of 34 million from most of the fallout from the war, which has choked supply for 25 per cent of global seaborne oil trade and nearly a fifth…
US-Philippines ties enter ‘more mature’ phase with planned fuel depot
The United States is planning a fuel depot in the southern Philippines to support humanitarian and maritime security missions for its long-time ally in Asia, as part of a growing network of forward-based refuelling hubs in the Western Pacific.
Located far from the flashpoint reefs at the centre of Manila’s maritime dispute with Beijing in the South China Sea, the depot marks what one observer called a “more mature and more serious stage” in the US-Philippine alliance: a shift from base access…
DFSA links up with UAE authorities to strengthen auditing framework
A new agreement between Dubai’s financial services regulator and the UAE’s economy ministry should create a stronger regulatory framework for auditing in the region, according to experts.
South Korean president’s Holocaust remarks spark Israel outcry
South Korean President Lee Jae Myung has sparked a diplomatic row with Israel and criticism at home after comparing Israeli military actions against Palestinians to the Holocaust in a social media post.
The controversy began on Friday after Lee said “wartime killings” by the Israel Defence Forces were “no different from the Jewish massacre” by the Nazis in World War II and reposted footage with a caption that said it showed Israeli troops had tortured and thrown a Palestinian from the roof of a…
In Malaysia, some laud Singapore car driver’s arrest over ‘world’s most expensive petrol’
The driver of a Singapore-registered car has been arrested in Johor for allegedly pumping subsidised Malaysian petrol, triggering a wave of approval online from Malaysians as the government widens a border crackdown driven by rising fuel costs and fears of subsidy abuse amid a global energy shock.
The arrest comes after months of viral shaming posts showing Singapore-registered vehicles allegedly filling up with RON95 in neighbouring Johor, fuelling public anger over the abuse of a subsidy meant…