AGP Executive Report

Illegal Gambling Crackdown: UNODC warns illegal online gambling in Southeast Asia is rapidly expanding and targeting young people, pulling them into debt and exposing them to scams and “mule” recruitment. ASEAN Digital Inclusion: ASEAN-BAC Philippines pushes for a more inclusive, borderless ASEAN digital economy at the ASEAN Tech Summit, urging support for MSMEs and women entrepreneurs. Malaysia Economic Resilience: Malaysia is drafting an economic security framework to plug supply-chain weaknesses, while the OECD forecasts solid growth of around 5% in 2026-27. APAC Health Access: A Boston Scientific-backed report says atrial fibrillation treatment adoption in APAC still faces delays in diagnosis and referral, even as pulsed field ablation gains specialist confidence. AI Market Jitters: Asia tech stocks slide again as investors fret about AI spending returns and chip competition, with South Korea’s KOSPI and major memory names hit. Urban Finance Gap (India): India’s cities need $2.4t by 2050 for climate-resilient, low-carbon growth, but municipal corporations have raised only a small share via capital markets. EVs as Power Story: EV adoption across East and Southeast Asia is reshaping electricity demand and accelerating renewables investment, with uneven progress by country.

Philippines Markets: Maynilad Water Services will join the PSEi from Aug 3, replacing Converge, after its post-IPO surge cleared market value and liquidity thresholds; Converge shifts to the MidCap index, while Philex Mining enters MidCap and Aboitiz Equity Ventures joins the Dividend Yield gauge. China Tech & IPO Buzz: ChangXin Memory Technologies (CXMT) made a blockbuster Shanghai debut, with shares jumping about 466% on day one and briefly lifting its valuation above $500 billion, intensifying focus on China’s memory-chip ambitions. AI Supply Chain: Nvidia is paying Amkor Technology $1.5 billion to expand advanced chip packaging in Arizona, aiming to diversify a process still dominated by Asia. APAC Economy Watch: The Bank of Japan is set to release its core inflation outlook, while markets also track South Korea’s consumer confidence data and Thailand’s holiday closures. Geopolitics & Energy: Oil slid as US-Iran tensions eased into talks, with markets watching shipping and Hormuz risk; European stocks were flat as tech weakness offset the oil-driven relief. Health & Tourism: Thailand is pushing wellness and longevity to become a major health economy by 2030, ahead of the Global Wellness Summit in Phuket. Business & Work: Singapore salary growth held at 3.9% as employers shift budgets toward critical roles.

Semiconductors & Markets: China’s memory chipmaker CXMT surged after its Shanghai debut, topping mainland valuations after an Asia-biggest IPO that raised about $8.6b, underscoring how AI demand is reshaping the region’s tech race. Geopolitics & Trade: A pause in US-Iran strikes helped lift risk sentiment and ease oil, but analysts warn the Middle East risk premium isn’t gone—shipping and trade routes remain exposed. Data Centres & Power: Wood Mackenzie projects India’s data centre capacity could jump to 12GW by 2030, with AI-driven demand driving steep electricity needs—while copper price volatility threatens to slow some Asia-Pacific builds. ASEAN Security: The Philippines’ PNP is boosting cross-border fugitive tracking using facial recognition with ASEANAPOL coordination. Malaysia Economy: ACCA/IMA says Malaysia’s fundamentals are resilient despite global cost pressures, while AMRO upgraded Malaysia’s 2026 growth forecast to 4.9% on AI-linked exports, data centres and LNG rebound. Energy Transition: ib vogt began commercial operations at a 99MW solar-plus-storage project in the Philippines, its first hybrid of this kind in Southeast Asia. Corporate Moves (Philippines): The PSE replaced Converge with Maynilad in the PSEi, with multiple sector index reshuffles effective Aug 3.

Philippines Politics: President Ferdinand Marcos Jr. delivers his fifth State of the Nation Address amid public frustration over corruption, jobs and the cost of living, with surveys showing food affordability and inflation still top concerns. China Tech & Markets: Memory chipmaker CXMT is set to debut on Shanghai’s STAR Market after Asia’s biggest IPO this year, spotlighting China’s push to scale homegrown DRAM production. AI Partnerships: Sun Life appoints Lee Sarkin as Vice President for Data and AI to roll out practical AI use cases across Asia, while Nvidia plans to buy about $1 billion in Naver shares to deepen its AI partnership in South Korea. Digital Payments: Ant International expands Alipay+ into Hong Kong banking via Hang Seng Bank, aiming to boost cross-border QR payments. Business & Travel: American Express data shows business travel spending is rising fast, with no broad “fare relief” expected. Middle East Ripple Effects: A Ukrainian strike in the Caspian Sea tied to Iranian-linked shipments underlines how far regional conflict is reaching. Energy & Trade: An oil tanker explosion in the Strait of Hormuz after reportedly hitting a naval mine adds to shipping and oil-market jitters. APEC AI Governance: APEC ministers shift focus from building AI models to adopting them safely and effectively across the Asia-Pacific.

Philippines–Oman Ties: Manila and Muscat agreed to keep regular high-level dialogue and push stalled investment deals, including an investment promotion pact and a double-taxation agreement, spanning trade, finance, tourism and education. Qatar Diamond Exchange: Qatar Free Zones Authority launched the Qatar Diamond Exchange in Ras Bufontas, bundling trading, vaulting, certification and security to deepen its role in global diamond supply chains. US Tariffs & Forced Labour: The Trump administration imposed 10–12.5% tariffs on 60+ countries under Section 301, targeting nations it says don’t enforce forced-labour import bans—sparking protests over how rates were set. West Asia–Oil–Fed Market Watch: Analysts flag West Asia tensions, Strait of Hormuz shipping risk, crude moves and the US Fed decision as the main drivers of volatility, with India’s June IIP and major earnings in focus. India Enforcement: CISF stepped up raids on illegal coal mining and transport, seizing 1,277 tonnes and arresting suspects under the MMDR Act. AI in Education: An OECD report warns that GenAI use in higher education raises concerns from privacy and integrity to equity and skills gaps, while noting near-universal student and staff exposure. AI Infrastructure in Kerala: Kerala’s first AI data centre is under way in Kozhikode, part of a ₹1,200-crore IT push aimed at jobs and lower-cost capacity. ASEAN Policing: ASEAN top cops agreed to enhance a shared digital database to tackle transnational crime, with stronger training and intelligence sharing. Space/IoT Business: Sateliot set up an India subsidiary to target narrowband satellite IoT growth in sectors like agriculture and utilities. Aviation vs Aeronautics: A guide breaks down how the two post-Class 12 paths differ in skills and careers.

Central Asia Connectivity: Turkmenistan says it will propose a UN-backed International trade logistics centre and an East–West transport corridor linking South and Central Asia to Europe via the Caspian Sea, while also pushing an “Industrial-technological belt” with Uzbekistan and a new Supreme council to coordinate joint high-tech and export-focused projects. Southeast Asia Diplomacy: Laos joined key ASEAN-led meetings, including ASEAN Plus Three, the ARF and the East Asia Summit, where ministers agreed on work plans on economic resilience, food and energy security, and transnational crime. Regional AI Push: Thailand is betting on “trustworthy AI” to become an ASEAN AI hub, pairing data-centre buildout with governance, cyber resilience and talent development. West Asia Security: UN chief Guterres warned of global fallout risk as Houthi attacks and wider West Asia tensions escalate, while a WSJ report highlights Iran’s Kheibar Shekan missile as a cost-effective threat to US forces. Disaster Watch (China): Typhoon Noul has triggered evacuations and suspended rail services as it approaches southern China, with landfall expected between Hong Kong and Guangdong. Philippines Growth Agenda: The Luzon Economic Corridor and Pax Silica are pitched as the next post-BPO engine, aiming to expand jobs and position Luzon in AI and semiconductor supply chains. Business & Tech: IBM says Asia-Pacific is ready for an “AI-first enterprise” shift, moving from isolated pilots to AI embedded in operations.

Defence & Security: Malaysia’s LIMA’27 and DSA & NATSEC Asia 2028 have secured early commitments from global defence firms, with MINDEF citing growing confidence in Malaysia’s ability to host international-standard shows. AI & Industry: Samsung and Broadcom signed an MoU to expand AI semiconductor collaboration worth $200B+ through 2030, spanning memory, foundry and advanced packaging. Energy Markets: China’s large strategic oil reserves helped blunt the impact of West Asia tensions as Brent pushed past $100, according to Sparta Commodities analyst June Goh. Business & Tech Infrastructure: AI is driving data centre thermal-management upgrades as rack power densities surge, pushing cooling systems beyond older designs. Automotive: China’s auto market is “cold at home, hot abroad” in H1 2026, with exports up sharply and NEV exports surging. Regional Diplomacy: Bangladesh and Chile discussed opening resident missions and exploring a free trade agreement, including critical minerals and garment exports. Politics (Philippines): Sen. Kiko Pangilinan said it’s “too early” to treat voter surveys as fixed for 2028.

ASEAN Peace Milestone: Philippine President Marcos hosted foreign ministers in Manila to mark the 50th anniversary of the Treaty of Amity and Cooperation (TAC), with Sweden, Poland, Romania and Lithuania joining as new parties—underscoring ASEAN’s push for stability through cooperation. Philippines Power Costs: A Senate hearing urged a review of the Electric Power Industry Reform Act (EPIRA) after the Philippines was flagged as having the highest electricity rates in Southeast Asia, arguing reforms failed to deliver cheaper power. MSME Resilience Pact: The Philippines’ DTI and nine partners signed an MOU to help micro, small and medium enterprises build disaster preparedness and business continuity plans. West Asia Energy Shock: Analysts warn renewed West Asia instability is tightening energy security and raising risks for oil-dependent economies, with India’s vulnerability to price and supply shocks highlighted. Tech, Trade and Markets: Malaysia’s mobile industry is forecast to grow 2–3% in 2026, while U.S. stocks ended mixed as Nasdaq slid on megacap profit-taking. Corporate Governance in China: Tencent fired a WeChat manager after a viral leak of a multi-million-yuan bonus package, reflecting tighter oversight. ASEAN External Ties: Türkiye was elevated within ASEAN’s dialogue framework, with Malaysia appointed coordinator for ASEAN–Türkiye dialogue relations.

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.

Big Tech’s “Hidden Debt” Row: A Nikkei Asia study says major US tech firms may carry about US$1.65 trillion in off-balance-sheet AI buildout liabilities, with critic Ed Zitron calling it a “corporate scandal” and warning investors may be blindsided. AI Research Push in Korea: NVIDIA and KAIST will launch a joint AI lab in Seoul focused on agentic AI for Korean industries, with compute support and researcher pathways. Semiconductor Supply Chain Move: NVIDIA signed a US$1.5 billion deal with Amkor to expand chip packaging and test capacity, adding Asia-based production for a more resilient supply chain. West Asia Conflict and Oil Shock: Brent reclaimed US$100 a barrel as attacks around the Red Sea and Strait of Hormuz fears stoked supply worries, dragging markets and lifting inflation risks. India’s Energy Security Plan: India approved Phase-II expansion of strategic oil reserves under a PPP model, adding 6.5 million tonnes of storage in Odisha and Karnataka. Regional Diplomacy in Manila: India’s Jaishankar urged safe, unimpeded international waterways and dialogue to end West Asia conflict at the East Asia Summit, while ASEAN security talks also focused on Middle East escalation. Singapore AI Governance Stress Test: A report says Singapore firms struggle to control “shadow AI” as employee adoption outpaces policy enforcement, raising data leakage and oversight concerns. Pakistan’s US Funding Bid: Pakistan sought a US$10 billion exchange stabilisation fund and additional trade finance with the US, but economists warn it won’t replace needed reforms. Aviation Growth Signals: IndiGo signed an MoU for 1,000+ LEAP-1A engines to power hundreds of A320neo aircraft, alongside talk of Adani weighing an airline entry in India’s duopoly market.

West Asia Shock to Markets: Indian stocks slid again as Brent surged toward $100 on renewed US-Iran fears, with analysts warning of inflation and margin pressure. Energy Security & Diplomacy: ASEAN foreign ministers met external partners in Manila, with the US pledging $1.5b for energy security, LNG market support and aviation infrastructure amid Hormuz-linked risks. Regional Security: South Korea urged North Korea to return to dialogue at the ARF security forum in Manila, as Pyongyang stayed absent for a second year. Digital Transformation: Oman hit 75% on ESCWA’s GEMS maturity index, boosting public outreach and service sophistication. Finance & Trade: Pakistan’s $10b US exchange-stabilisation push drew skepticism from economists, who say it won’t fix long-avoided reforms. Business & Tech: HKMA sold 10-year RMB government bonds with strong demand; Aurora Mobile upgraded GPTBots.ai with audio agent and LINE plugin updates. Clean Energy: Wärtsilä’s Archana Bhatnagar said renewables must become India’s grid backbone, but flexibility is key to cut curtailment. Aviation & Growth: Air India will add a non-stop Boeing 787-9 Delhi–Toronto service from Aug 1, removing a Vienna fuel stop.

UAE Digital Security Push: DMCC launched DMCC Cyber under DMCC Tech, bringing 200+ cyber resilience firms into a 4,000-tech ecosystem as the Gulf ramps digital resilience. Agentic AI Readiness: A UAE push aims to transform 50% of government services in two years using agentic AI, with many leaders expecting measurable returns soon. ASEAN Diplomacy on Iran: US Secretary of State Marco Rubio warned ASEAN leaders in Manila that any Iranian move to control and toll the Strait of Hormuz would set a dangerous precedent, as energy shipping fears return. Markets & Chips: Wall Street closed higher on a semiconductor rebound, but investors are still bracing for major Big Tech earnings amid Middle East and oil-price jitters. Singapore Startup Momentum: Singapore jumped to 4th in global startup rankings in five years, boosted by corporate venturing and innovation funding. Central Asia Water Funding: The World Bank will allocate $20m to modernise water management in Central Asia, including digital accounting and transboundary projects. Bangladesh Foreign Policy: Bangladesh’s “Bangladesh First” policy will guide external relations as FM Khalilur Rahman met China, Russia and the US on trade, energy and connectivity. Tech for Finance: Fireblocks CEO says South Korea is entering a “stablecoin inflection point,” positioning the country for the next phase of digital finance. Cybercrime & Scams: UN-linked reporting highlights how online criminal networks across Asia-Pacific are using technology to scale scams and illicit activity. Sports Infrastructure Idea: Pakistan floated an “Olympic Sports Corridor” concept along the M-9 motorway to turn sports into an economic and tourism engine.

India–China Diplomacy: EAM S. Jaishankar told Chinese FM Wang Yi that peace and tranquillity along the border are “prerequisite” for normal ties as relations gradually normalise. West Asia Shockwaves: ASEAN urged the US to help de-escalate West Asia tensions to restart global growth, while markets stayed jittery as oil and shipping risks feed inflation fears. Scam Economy: UNODC says online scam networks in the Asia-Pacific stole $88bn–$114bn in 2025, with Southeast Asia a key hub and AI helping criminals stay ahead. Korea Security: South Korea, the US and Japan reaffirmed denuclearisation and deterrence against North Korea in Manila. Energy & Trade: Analysts warned crude could jump above $100 and even $120 if the US-Iran conflict drags on, with the Strait of Hormuz and Red Sea routes in focus. Green Growth: Indonesia unveiled a 194-km green hydrogen corridor linking Jakarta to industrial hubs and ports. Business & Tech: Korea is pushing tourism innovation via VC-backed dealmaking to turn startups into global “unicorn” contenders.

Markets & Tech: Wall Street climbed as semiconductors and AI-linked stocks surged ahead of big earnings, while oil stayed supported by US-Iran tensions and tariff talk. Energy & Shipping: Reuters reports Saudi crude tankers reversed in the Red Sea after Houthi threats, raising risk for key chokepoints. Geopolitics: Japan protested China-Russia live-fire drills near Okinotori, underscoring rising friction in the Pacific. Crime & Cyber: A UNODC report warns Southeast Asia’s criminal networks are going global and using AI, deepfakes and encrypted platforms; scam losses in 2025 are estimated up to $114.1b. Food Security: UN data says Africa has overtaken Asia as the hunger hotspot, while a separate UN scenario links the Iran war to nearly 19m more people facing chronic hunger by 2030. Business & Asia Economy: JLL says Asia-Pacific hotel investment hit a seven-year high in H1, up 54% to $6.8b. India Aviation: DGCA data shows domestic air traffic fell 12% in June; IndiGo kept its lead with 66.3% market share. Healthcare: Junshi Biosciences said NMPA accepted an expanded toripalimab use for resectable stage II-III NSCLC.

ASEAN Diplomacy: Southeast Asia’s top diplomats met in Manila and urged an immediate halt to fighting in the Middle East, while calling for the full and safe reopening of the Strait of Hormuz, as regional oil and security concerns intensify. Regional Security & Crime: A UN report warns Southeast Asia-based criminal groups are using tech and integrated networks to expand scams beyond the region, with 2025 losses estimated between $88.3b and $114.1b. Tech & AI in China: Chinese firms are rolling out AI fast, but leaders say productivity gains are often smaller than expected due to organisational bottlenecks. Markets & Chips: TSMC plans to raise chipmaking prices by up to 10% from 2027, and Asian stocks were mixed as investors weigh West Asia risks and upcoming earnings. Business & Finance: Revolut launches a fully licensed banking entity in Australia after regulatory approval, while Ant International closes a $1.2b Series A to scale cross-border payments. Corporate Moves: Hines appoints Amit Diwan to lead its Asia-Pacific and Middle East business, and Grab eyes Taiwan expansion with a deal to buy Foodpanda’s Taiwan operations.

ASEAN-Japan Economic Push: ASEAN and Japan’s DISG task force met in Bangkok and adopted a joint declaration focused on supply-chain resilience, co-creating innovation, AI and digital investment, and energy transition. Indonesia AI Copyright Clash: Indonesia’s draft copyright bill would explicitly regulate AI in copyright, granting protection only for AI-assisted works with human input, banning AI imitation of a creator’s distinctive style, and requiring disclosure of AI use—while also pushing platforms to compensate for training and aggregation. Media & Marketing Deal: Bench Media appointed growth strategist Andrea Samuel as strategy lead, as clients demand tighter links between business goals and customer insights. Uber APAC Account Kept: EssenceMediacom retained Uber’s $150m Asia Pacific media account after a global review, with the team led from Sydney. Music Streaming Surge: Global paid music subscriptions hit 865 million, with streaming now 86% of recorded music spending. Markets Watch West Asia Oil Shock: India’s Sensex and Nifty slipped as crude rose on renewed US-Iran tensions; analysts flag inflation and rate risks. Tech & Healthcare Expansion: KA Imaging won Thailand and Singapore approvals for its Reveal 35C spectral X-ray detector, while Telix dosed the first patient in Phase 3 of its CAIX-targeted renal cancer radiopharmaceutical.