Philippines Energy Reform: A Senate hearing in Manila urged a comprehensive review of the EPIRA power-sector reform law after the Philippines was flagged as having the highest electricity rates in Southeast Asia, with lawmakers arguing privatisation and competition haven’t delivered cheaper power. ASEAN Diplomacy: Sweden, Poland, Romania and Lithuania formally joined ASEAN’s Treaty of Amity and Cooperation, as the bloc marked the pact’s 50th anniversary and reaffirmed its principles beyond Southeast Asia. Malaysia Markets: Malaysia sold a US$1.5 billion global sukuk with 4.7x oversubscription and a record-low spread, tightening pricing after strong investor demand. West Asia Shock to Asia: Renewed US-Iran tensions pushed oil back near/above $100, reviving stagflation fears and weighing on Asian stocks, while ASEAN called for safe, unimpeded transit through the Strait of Hormuz. US Forced-Labour Tariffs: The US rolled out forced-labour tariffs covering 60 economies, adding another trade shock for regional exporters. Tech and Regulation: The EU said TikTok failed to protect minors’ privacy, warning of possible non-compliance action and fines. Pakistan Digital Push: Pakistan invited Meta to expand engagement, including free training for 1,000 SMEs in digital business and AI. Energy Services Deals: Halliburton won Aramco onshore contracts for about 285 wells, while Expro completed its Enhanced Drilling acquisition to expand managed pressure drilling capabilities.