Asia this week: 1 – 7 July 2021

Summary of key events in Asia over the past week.

MFR Images

MFR Images

🇧🇩 Bangladesh

Lockdown extended with record cases

Strict nationwide lockdown, confining people to their homes, extended for another week as coronavirus cases and deaths both hit record highs.

UNHCR working to ensure refugee livelihoods

UNHCR is working on the ground to provide protection and life-saving assistance to ensure the most vulnerable, more than 800,000, Rohingya refugees living in Bangladesh have access to livelihood opportunities.

🇨🇳 China

Ride-hailing app Didi loses market share

Didi lost one-fifth of its market value after Chinese regulators announced an investigation into the ride-hailing app that recently raised more than USD4 billion in a New York IPO.

Double down on crypto crackdown

China’s central bank called for the shutdown of a company that “was suspected of providing software services for virtual currency transactions.” and warned institutions not to provide other services related to virtual currency, including providing business premises or marketing.

🇮🇳 India

Dilip Kumar dies at 98

Born Mohammed Yusuf Khan in 1922 in Peshawar, now in Pakistan, Dilip Kumar, one of India's most respected actors known for his roles as a tragic hero, died on Wednesday morning, his family said.

Post-COVID growth likely to be fuelled by public investments and exports

Public spending from the federal and state governments likely hold the key to jumpstarting India’s post-Covid growth instead of consumption, says JPMorgan analyst.

Japan’s Sumitomo to buy Fullerton India

Japan's Sumitomo Mitsui Financial Group to buy out Fullerton India, the Indian non-banking financial arm of Singapore-based Fullerton Financial, for about USD2.6 billion.

🇲🇾 Malaysia

Special parliament sitting scheduled for five days from July 26

Parliament to hold a special sitting for five days starting July 26 to allow lawmakers to be briefed on a national recovery plan and also allow the  body to amend necessary laws to conduct hybrid parliament meetings with virtual and physical attendance.

Boustead Holdings weighs options for palm oil subsidiary

Conglomerate Boustead Holdings Bhd. is weighing options for its listed palm oil subsidiary including a sale.

Malaysia witnessing Black Flag, White Flag and Red Flag movements

The black flags express dissatisfaction with the Malaysian government.

Households facing hunger or need other assistance are encouraged to wave a white flag or put a piece of white cloth outside their homes to signal their need for help.

The red flag signals neighbours, and the online community, to provide assistance to feed animals.

🇳🇵 Nepal

Largest power project inaugurated

Nepal Prime Minister KP Sharma Oli inaugurated the Upper Tamakoshi hydropower project, with a capacity of 456MW, which is expected to make the country a power exporter in the monsoon season.

🇸🇬 Singapore

COVID restrictions to ease further from July 12

Coronavirus restrictions will be further eased following an improvement in the COVID-19 situation as more residents get vaccinated.

Health authorities advise avoid exercising for a week after vaccination

The preventive measure come after a vaccinated 16-year-old boy suffered cardiac arrest while lifting weights at a gym.

🇱🇰 Sri Lanka

Former Maldives minister among those arrested over child sex exploitation

Those arrested include Maldives' former State Minister for Finance Mohamed Ashmalee, politicians from Sri Lanka's United National ruling party, a merchant navy captain, a wealthy gem dealer, and a Buddhist monk.

Basil Rajapaksa declared Member of Parliament

Election Commission issued the Gazette Notification declaring Basil Rohana Rajapaksa a Member of Parliament. He will fill the vacancy caused by the resignation of MP. Ketagoda Gamage Jayantha Perera.

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