Asia’s manufacturing sector shrank in May as weak demand from China and rising U.S. tariffs hit exports and clouded the region’s economic outlook.
Factory activity across Asia declined in May, driven by subdued Chinese demand and escalating U.S. tariffs under President Trump. Japan and South Korea—both heavily reliant on trade—saw their manufacturing sectors contract again, with PMI readings below 50 for the 11th and fourth consecutive months, respectively.
China’s official data also showed shrinking activity for the second month. India’s factory growth slowed due to inflation and geopolitical tensions. Economists warn that reciprocal tariffs and cheap Chinese exports are putting deflationary pressure on the region.
Trump’s decision to double global tariffs on steel and aluminum and ongoing U.S.-China tensions continue to fuel uncertainty. Meanwhile, Vietnam, Indonesia, and Taiwan also reported contractions in manufacturing, and analysts see little hope for a near-term recovery.
China’s electric scooter boom is accelerating the rise of salt-based batteries — a cheaper and safer alternative to lithium.
The European Union and China will hold a new round of trade talks this month, ahead of a planned EU-China summit in July, the European Commission said on Tuesday.
More than 1,800 people have been arrested in a major anti-scam operation across seven Asian jurisdictions, including Hong Kong, Singapore, South Korea, Thailand, Malaysia, the Maldives, and Macao, authorities announced on Tuesday.
Latvia, Colombia, Liberia, Congo, and Bahrain—have been elected to the United Nations Security Council in an uncontested vote.
The British government has threatened legal action against Roman Abramovich to ensure that the £2.5 billion from his 2022 sale of Chelsea Football Club goes to victims of Russia’s war in Ukraine.
China’s electric scooter boom is accelerating the rise of salt-based batteries — a cheaper and safer alternative to lithium.
The European Union and China will hold a new round of trade talks this month, ahead of a planned EU-China summit in July, the European Commission said on Tuesday.
More than 1,800 people have been arrested in a major anti-scam operation across seven Asian jurisdictions, including Hong Kong, Singapore, South Korea, Thailand, Malaysia, the Maldives, and Macao, authorities announced on Tuesday.
Latvia, Colombia, Liberia, Congo, and Bahrain—have been elected to the United Nations Security Council in an uncontested vote.
The British government has threatened legal action against Roman Abramovich to ensure that the £2.5 billion from his 2022 sale of Chelsea Football Club goes to victims of Russia’s war in Ukraine.
On May 28, the inauguration ceremony of Lachin International Airport was held.
Taxi drivers across France are protesting government plans to cut payments for driving patients to medical appointments. These cuts are part of a broader effort by Prime Minister François Bayrou to save €40 billion in the 2026 budget and reduce the country’s large deficit.
Brazil’s economy is expected to have regained momentum in the first quarter of 2025, driven by a surge in household spending and private investment, according to a Reuters poll of economists conducted from May 21–26.
As peace talks progress, voices from Yerevan, Tbilisi, and Baku reveal hopes, concerns, and expectations for a future shaped by trade, trust, and generational change in the South Caucasus.
In a major blow to one of President Donald Trump’s key economic policies, a US federal court has blocked the administration’s sweeping global tariff regime, ruling that the White House overstepped its constitutional authority.
Hungary's MOL Group and SOCAR have signed key terms for an exploration, development, and production sharing agreement for a new onshore area covering the Shamakhi-Gobustan regions of Azerbaijan.
bp, SOCAR and TPAO today signed several agreements enabling TPAO to join the production sharing agreement (PSA) for the Shafag-Asiman offshore block in the Azerbaijan sector of the Caspian Sea.
In May 2025, Türkiye’s annual inflation rate declined to 35.41%, down from 37.86% in April and falling short of the market forecast of 36.1%. This represents the lowest rate recorded since November 2021, as price increases slowed across almost all categories.
A new European Union law coming into effect on June 20 mandates smartphone makers to provide five years of software updates, energy labels, and improved repairability—setting new standards that may reshape the global smartphone industry.
U.S. stocks pushed higher on Monday, closing in on record levels after a volatile start to the day. Despite weak manufacturing data and renewed trade tensions between the U.S. and China, investor optimism held strong, with major indexes recovering thanks to tech gains and a surge in oil prices.
China’s electric scooter boom is accelerating the rise of salt-based batteries — a cheaper and safer alternative to lithium.
The European Union and China will hold a new round of trade talks this month, ahead of a planned EU-China summit in July, the European Commission said on Tuesday.
More than 1,800 people have been arrested in a major anti-scam operation across seven Asian jurisdictions, including Hong Kong, Singapore, South Korea, Thailand, Malaysia, the Maldives, and Macao, authorities announced on Tuesday.
Latvia, Colombia, Liberia, Congo, and Bahrain—have been elected to the United Nations Security Council in an uncontested vote.
The British government has threatened legal action against Roman Abramovich to ensure that the £2.5 billion from his 2022 sale of Chelsea Football Club goes to victims of Russia’s war in Ukraine.
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