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ASEAN eyes oil reserve, shared grid as counters to Mideast war cost squeeze

12 Sept 05:13 Key points summarised by AI

ASEAN nations propose establishing a regional oil reserve and an integrated power grid to combat soaring fuel and food prices, aiming to bolster energy security and enable cross-border power trading amidst global crises.
Member states voiced significant frustration over the lack of progress in resolving Myanmar's post-coup civil conflict, debating diplomatic approaches while acknowledging ongoing atrocities within the country.
The Philippines reaffirmed its commitment to finalizing a Code of Conduct with China for the South China Sea, viewing its completion as crucial for managing disputes and fostering greater economic cooperation in the region.

Today 14:58 Key points summarised by AI

Thailand's government will launch the "Chainat-Pasak-Gulf" water diversion canal project in fiscal year 2027, a seven-year mega-infrastructure initiative.
This permanent structural solution aims to mitigate recurrent central plains flooding by diverting water from the Chao Phraya River directly into the Gulf of Thailand, significantly reducing flow to major cities like Ayutthaya and Bangkok.
Prime Minister Anutin Charnvirakul justifies the long-term investment as a means to reduce future damages and fiscal burdens, contrasting it with the 40-50 billion baht spent annually on short-term flood relief.
Concurrently, the Prime Minister instructed officials to expand drainage capacity into the Tha Chin River and swiftly remove water hyacinths to improve immediate flood management.