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Asian currencies — some already struggling — have come under heavy selling, putting them among the largest losers globally. This has brought back memories of the Asian financial crisis and leaves policymakers with some unpleasant choices: Raising rates, spending reserves, or seeing their currencies sink further. Like in the rest of the world, the effect of the US-Israeli war on Iran in Asia is the prospect of rising inflation and damaged growth. Asia buys about 80% of the oil that is shipped through the Strait of Hormuz, according to JP Morgan commodity analysts. India’s rupee, Indonesia’s rupiah and the Philippine peso have all been pulled to record lows against the dollar, along with major troughs for the yen and South Korean won. The dollar, one of the few havens in March, made some of its sharpest gains in Asia — and to historic levels — rising more than 4% against the won, peso and Thai baht against a gain of around 1.5% on the euro. India’s rupee fell to a record low on Monday, before recovering, despite recent efforts by the central bank to stem its fall. The rupee was among Asia’s worst forex performers in 2025, and its underperformance has continued well into this year, hitting new lows on a regular basis. But Chinese stocks are emerging as one of the best markets to ride out the Iran war, with their outperformance against global peers on track for the strongest since August 2025. The Chinese yuan has slipped about 0.6% against the dollar since the war, but still outperformed most major Asian currencies even as a gauge of the greenback gained about 2.9%, according Bloomberg data. For free-falling Asian currencies, there is no simple solution — not least because options short of importing more oil don’t actually fix the squeeze, which is already spilling into prices for plastics and fertilisers. Responding with higher rates risks slowing an economy when it most needs support. Subsidising fuel is expensive, and in emerging markets or countries with budget pressures, such moves could be received badly by bond investors. Direct currency intervention can also be costly and risky in fickle foreign exchange markets. There’s still one big factor that may lead to further currency losses — the potential for another upsurge in the price of oil. An increase of $10 per barrel in crude may boost the US dollar by roughly 0.5% to 1%, according to Mitul Kotecha, a strategist at Barclays Bank in Singapore. “From an economic perspective, Asia gets hit a lot more because of the amount of oil that Asia imports,” he said in a Bloomberg Television interview last week. “The dollar, I think, remains at least in this environment, quite well supported.” Investors in Asia are struggling to adjust to the new normal, as they try to get to grips with the outsized swings precipitated by rising oil prices while the Iran war rages on. Volatility has climbed for virtually every asset class and the region has borne the brunt of the move. The opening gaps for Asian stocks and major bond markets last month show some of the most extreme moves of the last year, according to a percentile analysis compiled by Bloomberg. Policymakers in the Asia-Pacific region are facing their toughest test since the Covid-19 pandemic, with few easy options, as they race to cushion their economies from an energy shock that is hitting harder and sooner than elsewhere. A US withdrawal from the Iran conflict would help ease tensions and improve prospects for reopening the Strait of Hormuz — a key artery whose disruption has driven oil prices higher. Restoring flows from the Middle East would benefit major importers in Asia such as India and China and help alleviate concerns about a slowdown in global economic growth. Source link
Imported medicines must have at least two-thirds of their shelf life remaining, ensuring patients consistently receive safe and high-quality treatments, the Ministry of Public Health (MoPH) has stressed. MoPH has issued a new circular for pharmaceutical suppliers stressing that the imported drugs and medicines must have at least two thirds of their validity remaining unless there is an official exemption from this condition granted by MoPH Pharmacy and Drug Control Department. The move aims to strengthen drug safety standards, prevent the buildup of near-expiry medicines, and improve the management of the country’s strategic pharmaceutical stock. Exceptions will apply only in cases of severe shortages or emergencies, where life-saving medicines may still be imported with shorter shelf lives. Besides, MoPH will issue a detailed guidebook of such exemptions that will be available on its website. The concerned entities have urged all suppliers and distributors to comply, noting that regular inspections will be carried out to enforce the policy. In the meantime, the measure is designed to protect consumers, reduce waste, and further enhance Qatar’s evolving healthcare regulatory system. Source link
India’s Abhishek Sharma walks after losing his wicket, caught by England’s Jos Buttler, off the bowling of Jofra…
ICC Qatar recently concluded its high-level two-day webinar titled ‘Navigating the Geopolitical Crisis: Legal, Governance, ESG Compliance & Risk Priorities for Qatar’s Private Sector’. The webinar brought together more than 200 participants representing banks, law firms, embassies, real estate and construction companies, and consulting firms, as well as legal and governance experts, senior executives, board members, and risk professionals. Sheikha Tamader al-Thani, secretary general of ICC Qatar, said: “We are pleased to convene this timely discussion as the region continues to experience significant geopolitical developments. These evolving dynamics present a range of challenges for the private sector, particularly in navigating legal complexities, regulatory expectations, ESG considerations, and operational risks.” She added: “The evolving geopolitical environment requires businesses to review contracts, legal exposure, and cross-border obligations, while ensuring strong compliance, governance, and risk management frameworks. In times of uncertainty, ESG responsibilities and business continuity planning become even more critical to maintaining stability and resilience.” Discussions addressed the legal, regulatory, and operational challenges currently facing businesses in Qatar and the wider Gulf region. Throughout the event, Mashael al-Sulaiti, founder and chairperson of Mashael Al Sulaiti Law Firm, and Elena Athwal, founder and CEO of ICELIS Global, highlighted the critical need for businesses to review contractual clauses, particularly force majeure and material adverse change provisions, to understand their legal position and available remedies clearly. They also stressed the importance of strengthening board oversight, ensuring compliance, and maintaining transparency in disclosure practices. “We gave businesses a clear framework for action, identifying the applicable laws, understanding the obligations that arise, and taking immediate steps to protect their position. At the board level, this means moving from passive awareness to active oversight; risks must be identified, challenged, documented and managed within a disciplined governance framework,” stated al-Sulaiti. The speakers emphasised the importance of proactive risk assessment, robust contractual review, ESG considerations, and strengthened internal governance frameworks to ensure resilience and compliance during periods of uncertainty. They also provided insights into key disruptions affecting the business landscape, including global trade and supply chain challenges, heightened counterparty and sovereign risks, contractual uncertainties, and evolving regulatory expectations. “ESG during a crisis is not a reporting exercise. It is evidence preservation for legal remedies,” said Athwal. Furthermore, the speakers underscored the necessity of closely monitoring regulatory developments and maintaining open communication with supervisory authorities. They also emphasised the importance of reassessing insurance coverage and addressing potential gaps, particularly in high-risk or conflict-affected jurisdictions. Related Story Source link
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