Kolkata, India — India's largest fully integrated oil and gas company, Reliance Industries Limited struck crude oil in the Bay of Bengal, last week. A first by a private sector company in India, the discovery is expected to save the country billions of dollars in oil imports and ease soaring energy needs.

New York, NY, United States — China will fly a large “made-in-China” aircraft by 2020, according to a development plan announced in 2006. With the formation of the Commercial Aircraft Corporation of China, the nation has already taken the first step toward developing and manufacturing such aircraft.

Seoul, South Korea — HSBC's decision to drop its offer to buy a controlling stake in Korea Exchange Bank is expected to reshape the country's banking landscape as local banks are seeking to acquire Seoul's fifth-largest lender. HSBC cited falling asset values and turmoil in the global financial market as reasons for the termination of the deal.

Seoul, South Korea — South Korea, which has struggled to combat rumors about a financial crisis for the past weeks, is now facing a real challenge following the collapse of Lehman Brothers and the subsequent financial turmoil across the globe.

Kolkata, India — The Nuclear Suppliers Group recently consented to a waiver on prohibition of nuclear trade with India. While the U.S. Congress needs to approve it, entry into NSG will help India become a major hub for the manufacturing of nuclear components and reactors, as domestic engineering companies are expected to strike global alliances to serve the global nuclear market.

New York, NY, United States — Has China spent enough on science and education is a fair question to ask given the billion-dollar price tag it paid for staging the Olympics. To put its “gold medal strategy,” which was pricey, in comparative perspective, one has to look at government spending on public goods like science and education.

Kolkata, India — In India, the acquisition of land for private projects is facing a tidal wave of grassroots-level opposition and wrangling by political parties. At stake are projects worth US$64 billion related to local groups like Tata as well as foreign investors like Korea’s Pohang Steel Company and global conglomerates like Dupont and Dow Chemicals.

Tokyo, Japan — Mitsubishi Aircraft Corporation is about to open a new chapter in Japan's aviation history with its development of the Mitsubishi Regional Jet, Japan's first locally made jetliner in over 30 years, the company announced Thursday in Tokyo.

Seoul, South Korea — Financial jitters over a possible liquidity crunch are mounting in South Korea as more and more foreign investors are exiting the country and the trade deficit is ballooning, draining its foreign exchange reserves.

New York, NY, United States — China’s Anti-Trust Law, enacted on Aug. 1, is expected to change China’s competition landscape. The law will keep a close eye on multinational corporations with operations in China. Many of them have occupied dominant positions in the Chinese market and are thereby perceived negatively.

Nakhonratchasima, Thailand — Thailand’s King Bhumibol Adulyadej granted a royal audience to Bank of Thailand executives last week amid concern for the country’s coffers, which many experts have described as depleted to the point of bankruptcy. The same week, the Thai king was called the world’s richest royal by Forbes magazine.

Seoul, South Korea — South Korea has kicked off its biggest merger and acquisition deal for this year, which could cause a major upheaval in the country's industry. State-run Korea Development Bank announced on Friday it would sell off a 50.4 percent stake in Daewoo Shipbuilding & Marine Engineering Co.

Kolkata, India — The Indian government-funded Pan African e-Network project opened its first hub in Dakar, capital of Senegal, in July, connecting six African countries to an Indian data center that will assist hospitals and universities. India is increasingly competing with China in engaging Africa.

Brisbane, Australia — Australia released an initial US$2 million Tuesday out of a US$13.7 million fund for Asia-Pacific nations to help protect forests and reduce greenhouse gas emissions, the government announced Tuesday. The first two beneficiaries will be Papua New Guinea and Indonesia.

New York, NY, United States — The world’s population is approaching 7 billion and apparently increasing at a rate of about 78 million a year. At the current annual growth rate, it is expected to double in 60 years. The world’s population will continue to grow unless there is a conscious effort by mankind to limit its growth.

Seoul, South Korea — South Korea has decided to focus its energy development efforts on nuclear power to reduce its heavy reliance on fossil fuels and meet global environment regulations, the energy ministry said Thursday. The country will build 11 new atomic reactors with a generating capacity of 1,400 megawatts each by 2030.

Kolkata, India — India’s new Defense Procurement Procedure aims to vitalize India’s indigenous defense capabilities and move away from the practice of importing almost all its defense requirements. But the attempt to make the country’s defense procurement process more transparent seems to unwittingly favor foreign vendors.

New York, NY, United States — As the host of the Olympic Games, the Middle Kingdom has become the center of the world again. There is little doubt that splendid sports venues are showing off China’s first-rate, technologically sophisticated infrastructure. However, how many at the gathering have noticed that something is missing?

Seoul, South Korea — South Korea's central bank unexpectedly raised its key interest rate on Thursday to the highest in nearly eight years to curb runaway inflation. The economy is already sliding due to sluggish private consumption and high energy import costs as well as huge household debt that could jeopardize lenders.

Toronto, ON, Canada — Oil prices are squeezing the finances of both China and India. With a 133 percent increase in oil prices India, whose financial picture is not so bright, is hard pressed to pay to import oil. China can afford to pay a bit more but cannot sustain payments at US$125-$145 a barrel for a long time.

Kolkata, India — After three years of waffling, India has finally announced its 3G policy, ending the nail-biting suspense for the telecom world. But this much-debated policy may hold significant roadblocks for both local and foreign players.

Seoul, South Korea — South Korea's foreign exchange reserves fell by US$10.6 billion in July, marking the biggest-ever monthly drop, which has fueled fears of another financial crisis in Asia's fourth-biggest economy. The nation's foreign reserves dropped for the fourth straight month.

Manila, Philippines — Philippine Senate President Manuel Villar last week announced that the ratification of the Japan-Philippines Economic Partnership Agreement will be a top priority. But opposition groups say the deal could lead to an inflow of secondhand Japanese ships such as the ferry that sank in a typhoon last month.

Toronto, ON, Canada — The earthquake that hit China in May, the spate of unrest in Tibet and the economic slowdown in the West are all playing havoc with the commercial success of the Beijing Olympics. Commercial television rights, advertising and tickets are all sold, but the tourists from around the world are missing.

Seoul, South Korea — Exports have offset weakening domestic demand, keeping the South Korean economy afloat, but analysts warns the economy's heavy dependence on overseas shipments makes the nation more vulnerable to external risks such as a slowdown of the global economy.

Seoul, South Korea — Foreign investors are exiting South Korea's stock market amid warnings that Asia's fourth-biggest economy may slip back into a financial crisis. Foreigners sold more Seoul stocks than they bought for the 33rd consecutive day on Wednesday, marking the longest-ever selling streak.

Toronto, ON, Canada — The United States is still in the midst of the sub-prime loan crisis. It is rumored that the total cost of this crisis is close to US$1 trillion. The entire banking sector all over the world unwittingly became the victim of this crisis when it bought what looked like attractive investments.

London, England — The G8 summits were formed in response to rising oil prices in the mid-1970s; not until 2005 was serious discussion on the environment included. This year’s G8 agreement on climate change had to take into consideration the global economy and the energy security concerns of developing nations.

Hong Kong, China — Carbon finance is a significant tool that can drive China’s transition from fossil fuels to renewable energy, according to a study released Monday. According to the study, it has generated over 1,000 projects in China, raking in an estimated US$2.5 billion in annual revenues.

Tokyo, Japan — With steady innovations in digital publishing, chances are that half of what you have read today was delivered online. Soon, the contents of pamphlets, magazines, books and newspapers will reach your ears as well as your eyes, as digital audio technologies advance.

Kolkata, India — India’s seventh round of bidding for potentially lucrative oil-exploration projects was supposed to lure foreign players, especially with oil prices sky high. Yet the latest round of international bidding turned out to be a damp squib as far as foreign interests were concerned.

Seoul, South Korea — North Korea may lose a massive cash cow as South Korea has suspended a joint tour program to the communist country's mountain resort following the shooting death of a tourist by the North's military. South Korea is also considering halting another tour program to the North's ancient capital of Kaesong.

Tokyo, Japan — Japan is reawakening to its potential as an ocean-going nation after more than half a century of retreat from adventuring into the oceans surrounding the islands. Parliamentarian Seiji Maehara has stressed the importance of Japan’s ocean development in light of China's recent extensive maritime research.

Taipei, Taiwan — Friday marked a historical moment for Chinese on both sides of the Taiwan Strait, as more than 700 tourists from five cities in mainland China flew non-stop to Taiwan – the first beneficiaries of an agreement to allow direct weekend charter flights between the island and the mainland.

Manila, Philippines — Nuclear power is not necessarily evil and dangerous; it is one solution to the energy woes of many countries. But the Philippine experience in building a nuclear plant during the oil crisis of the 1970s was a fiasco that should not be emulated. The plant didn’t generate a single watt of electricity.

Shenzhen, China — Less than 50 days before the Beijing Olympics open, a bank official announced that the People's Bank of China may be circulating counterfeit banknotes. This sent shockwaves around China, as what was supposed to be China’s Olympic heyday was suddenly threatened by a possible scandal over fake money.

Toronto, ON, Canada — The rapid increase in oil prices and the rise in metal and mineral demand worldwide have made the Russians overconfident as their annual cash income has grown fourfold. The Russians have become somewhat politically belligerent and are reneging on earlier deals they feel are not in their best interest.

Tokyo, Japan — As Japan prepares to host the Group of Eight Summit in ten days’ time, it appears the agenda will shift from climate change to rising prices, reflecting world concerns over the prices of food and oil. Still, Japan hopes to push for a post-Kyoto framework to include all major carbon-emitting nations.

Seoul, South Korea — South Korea's economy is expected to further slide this year in the wake of high-flying energy costs and a global economic slowdown with mounting inflationary pressure. Many economists forecast just over 4 percent economic growth, far below President Lee Myung-bak's much-touted target of 7 percent.

Toronto, ON, Canada — Punjab is India’s granary – there is no other granary like it anywhere in the world. A small area in the northwest, it is irrigated by three rivers from the Himalayas. In the crop year 2007-08, Punjab has produced 27 million tons of food grain on less than 1 million hectares of land.

Seoul, South Korea — Despite a state-run drive to revive its flagging economy following its nuclear weapons test, North Korea's economy shrank for a second straight year in 2007, fueling doubts about the viability of its autarkic, command economy, with global sanctions still in force.

Toronto, ON, Canada — It is unlikely that the planned massive pipeline from Iran to India will be built in the next ten years. The same is true for the pipeline from Central Asia to India via Afghanistan and Pakistan. But in the last five years, Central Asia has emerged as a new reservoir of oil and gas.

Manila, Philippines — Worldwide initiatives to combat global warming have failed to reverse this trend. They do not address the real roots of climate change - neoliberal globalization and the "mad pursuit" of transnational companies for profits. The People’s Protocol on Climate Change takes a new approach.

Seoul, South Korea — A $10 billion spending package highlights South Korea's efforts to shield its people from the impact of soaring oil prices, but unlikely to satisfy angry consumers, with looming strikes by truckers and other unionized workers.

Seoul, South Korea — South Korea's exports expanded at the fastest pace in almost four years in May on strong sales of ships and petroleum products, easing concerns that a global economic slowdown would damage the country's export-driven economy.

Kolkata, India — It is no secret that the demands of rapid industrialization have driven China to scout for minerals and resources in almost every corner of the globe. But China is also hunting for resources within its borders, giving rise to a booming mining industry and opening up opportunities for foreign investment.

Toronto, ON, Canada — It is possible that inflation in India, which has climbed to 7.61 percent, could bring down the existing government. Elections are due at the end of the year, and inflation is the number one election issue. If this government cannot control it in the next three months, it may not survive.

Seoul, South Korea — The fate of a hard-won free trade accord between South Korea and the United States is in jeopardy as a controversial U.S. beef import deal has unexpectedly bolstered reluctance in legislative bodies on both sides.

NAKHONRATCHASIMA, Thailand — Recently the owner of a 2000 Mercedes Benz C240 pulled into a local repair center in Thailand complaining of a non-working gas gauge. The mechanic asked, "Have you filled the tank with ethanol-based gasoline? That can damage the sensors." Lesson: don't use ethanol.

Toronto, ON, Canada — In recent months, hedge funds, pension funds and other group investment vehicles, which strive for maximum return in minimum time, have turned the commodity market upside down. Recent price rises of all commodities including food grains are a testament to their manipulation.