In a bid to enhance regional security amid rising tensions in the South China Sea, Japan and Malaysia signed a comprehensive security assistance deal on Saturday. The agreement, celebrated on the sidelines of a Tokyo summit marking 50 years of Japan-ASEAN ties, solidifies the relationship between the two nations. Under the terms of the deal, Japan will extend a grant of 400 million yen ($2.8 million) to Malaysia, focusing on boosting maritime security capabilities. The aid package includes the provision of essential equipment such as rescue boats and supplies aimed at fortifying Malaysia's
Prime Minister Narendra Modi inaugurated the Surat Diamond Bourse, now recognized as the world's largest and most modern center for international diamond and jewelry business. The grand opening followed the inauguration of a state-of-the-art integrated terminal building at Surat airport earlier in the day. Located in Khajod village near Surat city, the Surat Diamond Bourse is housed in a colossal building, boasting over 67 lakh square feet of floor area—the largest office complex globally. This monumental structure will serve as a global hub for the trading of both rough and polished dia
South Korean President Yoon Suk Yeol embarked on a trip to the Netherlands, focusing on enhancing semiconductor cooperation between the two nations. President Yoon highlighted the critical role of high-tech chips in the global economy, with South Korea contributing approximately 60% of the world's memory chip supply. The Netherlands hosts ASML, a key player producing lithography equipment essential for semiconductor manufacturing. Despite geopolitical tensions impacting the semiconductor industry, Yoon emphasized the longstanding collaboration between South Korea and the Netherlands, cruci
Philippine lawmakers are deliberating potential amendments to the Constitution to ease restrictions on economic ownership. “We want to lift the restrictive provisions vis a vis the economy,” House Speaker Martin Romualdez said in an economic briefing.Congressional leaders from major political parties convened on December 11 to address procedural challenges that have impeded previous attempts to amend the Philippines' 1987 constitution. The proposed amendments aim to grant lawmakers the authority to regulate economic sectors, providing flexibility for increased foreign investment.Foreign
Singapore sealed its first-ever agreement with Papua New Guinea on December 8, allowing Singaporean companies to purchase carbon credits from projects in Papua New Guinea to offset a portion of their carbon tax liability. The agreement, signed at the COP28 climate conference, is deemed significant as both nations are part of the Alliance of Small Island States (Aosis). Minister for Sustainability and the Environment, Grace Fu, signed the agreement alongside her counterpart, Papua New Guinea’s Minister for Environment, Conservation, and Climate Change, Simo Kilepa. The accord mandates pr
Prime Minister Narendra Modi, during his inaugural address at the Uttarakhand Global Investors Summit, expressed confidence that India would secure a position among the world's top three economies in his anticipated third term. Addressing over 1,000 investors and delegates at the summit themed 'Peace to Prosperity,' Modi highlighted India's recent development milestones, including lifting over 13 crore people out of poverty in the last five years. Encouraging a 'Vocal for Local' approach, he urged businesses to focus on capacity building, strengthen export-oriented manufacturing, and reduc
Singapore has inked a historic free trade agreement (FTA) with four South American countries—Argentina, Brazil, Paraguay, and Uruguay—a group known by the Spanish acronym Mercosur. This marks Singapore's first trade pact with these nations and Mercosur's first such deal with a South-east Asian nation. The Mercosur-Singapore Free Trade Agreement (MCSFTA) aims to facilitate increased trade by reducing tariffs and establishing transparent investment conditions. The agreement, signed at the 63rd Summit of Heads of State of Mercosur and Associate States in Rio de Janeiro, Brazil, targets
Indian Prime Minister Narendra Modi announced a $250 million Line of Credit (LoC) to Kenya for the modernization of its agriculture sector. The announcement came following extensive discussions with Kenyan President William Samoei Ruto, who is on a three-day visit to India aimed at enhancing overall relations between the two nations. In its foreign policy, India has always given high priority to Africa and has expanded its overall ties with the continent on a mission mode in the last nearly one decade, Modi said in his media statement after the talks. During the talks, both leaders ackn
In a bid to draw in more tourists, Thailand’s cabinet has approved a ministerial regulation that extends the opening hours of nightclubs and entertainment venues in key tourist hotspots. This latest initiative is part of the government's ongoing efforts to attract more visitors and boost economic growth. Under the new regulation, entertainment establishments, including clubs, karaoke bars and other venues in popular tourist destinations such as Phuket, Bangkok, Pattaya, Chiang Mai, and Samui will now be permitted to stay open for an additional two hours. Thereby extending their opening h
The Karnataka government has approved 62 industrial investment proposals valued at Rs 3,607.19 crore, aiming to generate employment for 10,755 individuals within the state. These proposals received approval from the State Level Single Window Clearance Committee, headed by Large and Medium Industries and Infrastructure Development Minister, Mr. M. B. Patil, during a meeting held on Tuesday. Key investors involved in these approved projects include Texcon Steels, Hundri Sugars and Ethanol Private Limited, Bren Life Sciences, Alpine Ethanol, Virupaksha Laboratories, and Qualcomm India, amo