The Brief: Asia's economy, 17 August 2026

Economies

Delhi Mandates EV Shift for Commercial Vehicles, Incentivises Private Owners: Delhi’s new Electric Vehicles Policy introduces registration deadlines for commercial electric vehicles and offers purchase incentives. However, critics argue the policy does not address underlying car dependence or environmental harm displacement.

Singapore Economists Lift 2026 Growth Forecasts Past MTI Range: Private-sector economists in Singapore have raised their full-year GDP growth forecasts for 2026. This follows an official upgrade and strong first-half performance, driven by AI-related investments.

Philippines' 2027 Tax Revenue Targets Ambitious, BMI States: Research firm BMI questions the Philippines' ability to meet its 2027 tax collection goals, citing reliance on consumption gains and lower GDP forecasts.

Filipino Workers Satisfied With Pay, Still Eye Higher Wages, Relocation: A Jobstreet by SEEK survey reveals that while a majority of Filipino workers are satisfied with their current salaries, a significant portion still finds their earnings insufficient for living costs, driving a desire for greater compensation or international relocation.

Markets

Indian Equities Draw FIIs Amid Oil Concerns, RBI Policy Debate: Foreign institutional investors are returning to Indian equities, notably IT, despite global oil volatility and new RBI policy on NBFC credit. Geopolitical risks and domestic regulatory changes shape current market dynamics.

Bogd Bank, DBM Lift International Bond Issues to $850 Million: Mongolian financial institutions Bogd Bank and the Development Bank of Mongolia have significantly expanded their global bond offerings. This demonstrates increasing offshore investor appetite for the frontier market's debt.

Global Investors Shift Capital to Taiwan Equities, Away From Korea: Global investors are moving capital into Taiwanese equities and out of South Korean shares. This follows July's AI-related stock rout, with Taiwan showing steadier earnings prospects and greater diversification.

Banking & Fintech

Visa, UMSI Launch Phone Payments for Philippines SMEs: Visa and USSC Money Services Inc. (UMSI) introduced a new payment solution in the Philippines. Small businesses can now accept contactless card payments directly via NFC-enabled smartphones, eliminating traditional point-of-sale terminals.

Yuno Secures US$45 Million Series B, Gulf Investors Back Expansion: Payments infrastructure firm Yuno has closed a US$45 million Series B round. Gulf investors participated, reinforcing Yuno's regional expansion strategy and recent regulatory wins in Saudi Arabia. The funding will accelerate Yuno's path to profitability.

Aspire Adopts Flagright AI for Enhanced Compliance: Singapore-headquartered fintech Aspire has integrated Flagright’s AI technology to bolster its financial crime compliance, enhancing monitoring and risk controls for its 50,000+ business clients.

Industries

Enrique Razon Jr. Becomes Philippines' Richest on ICTSI Global Push: Ports magnate Enrique Razon Jr. is now the Philippines' wealthiest individual. His company, International Container Services (ICTSI), drove his net worth higher through international expansion and record earnings.

Korean Fried Chicken Brand BBQ Enters Mexican Market: Genesis BBQ Group opens its first store in Mexico City, expanding its Latin American footprint and offering a localised Korean food menu. The move brings its regional count to 20 outlets, with further expansion planned for Monterrey.

Disney, Square Enix Reveal Kingdom Hearts 4 Details; Anime Adaptation Planned: Walt Disney and Japanese developer Square Enix previewed their upcoming "Kingdom Hearts 4" game at a fan event. The companies also confirmed a new anime series, expanding the franchise across multiple entertainment platforms.

Thai Restaurants Deploy Tech to Counter Worker Scarcity: Thailand's restaurant sector is adopting technology to address persistent labour shortages. Demographic shifts and competition for staff worsen the problem, driving operators towards digital solutions and new hiring strategies.

Wealth

China Offshore Wealth Tax to Target HK Property, Threatening Mainland Demand: Beijing's expanded offshore wealth tax, currently targeting insurance gains, could soon encompass Hong Kong property income. This shift may reduce mainland Chinese investment demand for Hong Kong real estate and pressure decentralised office markets.