More frequent and intense heatwaves are the deadliest form of extreme weather made worse by global warming, with death tolls sometimes in the thousands, but they can also have devastating economic impacts too, experts say.The prolonged and unseasonable scorchers gripping the central United States (US) and rolling northward across western Europe, sending the thermometer above 40 degrees Celsius (104 degrees Fahrenheit), are likely to cause both.Deadly And CostlyVery high temperatures caused ne

The Organisation for Economic Co-operation and Development (OECD) warned Wednesday that the world economy will pay a "hefty price" for Russia's invasion of Ukraine as it slashed its 2022 growth forecast and projected higher inflation.The Paris-based organisation, which represents 38 mostly developed countries, is the latest institution to predict lower gross domestic product (GDP) growth due to the conflict, which has sent food and energy prices soaring.In its latest economic o

Australia's new prime minister and Indonesia's president rode bamboo bicycles together on Monday as they held talks to boost ties, as Canberra embarks on a diplomatic charm offensive aimed at countering China's growing assertiveness in the region.Anthony Albanese hailed relations with Indonesia and vowed to strengthen them on his first bilateral trip since being elected last month, heading to Southeast Asia's biggest economy in what has become a traditional tour for new Au

Global stock markets advanced on Monday, driven by an easing of COVID lockdowns in the world's second-biggest economy, China.London's stock market, reopening after a British public holiday to mark Queen Elizabeth II's Platinum Jubilee, shrugged off news that embattled British Prime Minister Boris Johnson was to face a confidence vote from MPs in his own conservative party.Elsewhere, eurozone stocks also closed higher ahead of a European Central Bank (ECB) meeting Thursday when

The Senate’s last session under the 18th Congress came to a close on 1 June, 2022 with no mention, deliberation, and ratification of the Regional Comprehensive Economic Partnership (RCEP).

Chinese Premier Li Keqiang last week urged a reported 100,000 local government officials to immediately take action to “stabilise” the situation in China amid upset and anger over the fallout from its commitment to ‘zero COVID’.Speaking over video link at a State Council executive meeting, Li said China’s economy was facing an even greater challenge than at the start of the pandemic in 2020, according to Xinhua, China’s state news agency, when employment, industrial production and consumption

Wang Yi urges Pacific region not to be ‘too anxious’ about China’s aims after failing to agree on a sweeping security deal.

China's premier called for more to be done to stabilise the world's second-largest economy, issuing an unusually stark warning as the country's zero-COVID strategy bites into growth.China is the last major economy welded to a policy of mass testing and hard lockdowns to eliminate virus clusters, but the strict curbs have battered businesses.Restrictions around the nation in recent months – including on the manufacturing hubs of Shenzhen and Shanghai, as well as the breadbasket

China has put forward plans to dramatically expand security and economic cooperation with South Pacific nations, in what one regional leader called a thinly veiled effort to lock them into "Beijing's orbit".The wide-ranging draft agreement and a five-year plan, both obtained by AFP, will be the subject of discussion during Chinese Foreign Minister Wang Yi's tour of Pacific nations, which began Thursday.The package would offer 10 small island states millions of dollars in C

The Association of Southeast Asian Nations (ASEAN) will play host to global leaders later this year with ASEAN Summits in Cambodia, the B20 and G20 Leaders’ Summit in Indonesia and the Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting in Thailand, all happening back-to-back.With the changing face of geopolitics and the global economy, these meetings and the preparations in the lead up, will shed light on where ASEAN stands in its on-going recovery efforts from COVID-19 and ho