IMF raises South Korea’s 2024 growth forecast to 3.3% on booming chip exports

South Korea’s economy is set to expand faster than previously expected, with the International Monetary Fund increasing its 2024 growth projection to 3.3% from 2.6% earlier this year. The upgrade reflects a surge in semiconductor exports, which are…

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Prime Minister Sanae Takaichi Announces Plan to Cut Food Consumption Tax Without Issuing New Bonds

Key developments: – In a Monday Diet speech, Prime Minister Sanae Takaichi announced a reduction of the consumption tax on food products, pledging to fund the cut without the issuance of new government bonds. – The proposal aims…

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China’s Energy Technocrats Fast‑Track Energy Security and AI Expansion

Key developments: China’s newly reshaped 20th Central Committee now includes a record 85.3% of members with at least a decade of energy‑sector experience, up from 67.7% in the previous committee. Senior figures such as Zhang Yuzhuo, a former…

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China’s energy technocrats drive AI‑linked power expansion to shield the economy from external shocks

Key developments: Senior officials with long‑standing careers in coal, power grids and water management are now steering national policy on both energy security and artificial‑intelligence growth. Their deep technical backgrounds, combined with senior party posts, enable them to…

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North Korea condemns G7 denuclearisation call and fires ballistic missiles into the East Sea

North Korean officials reiterated their opposition to international pressure on the country’s nuclear programme, with Kim Yo Jong denouncing a recent G7 statement as an infringement of sovereignty. Within days, Pyongyang demonstrated its resolve by launching two ballistic…

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ASEAN set to tackle transboundary haze as Singapore introduces haze subsidies

Key developments: Southeast Asian leaders are preparing to address the persistent haze problem, with ASEAN officials confirming that the issue will be on the agenda of the upcoming November summit. At the same time, Singapore has launched new…

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Flash floods devastate Nepal while political unrest rattles Bangladesh and Sri Lanka

A massive flash flood in Nepal has destroyed dozens of homes and critical infrastructure, leaving at least ten people missing and highlighting the region’s growing vulnerability to extreme weather events. At the same time, Bangladesh’s leading political party…

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