APEC sees slower growth as oil prices and trade barriers rise

12 Sept 20:05 Key points summarised by AI

APEC's economic growth is projected to decelerate to 3.1% in 2026 and 3% in 2027, a decline from 3.3% in 2025, impacting over half of its 21 member economies.
Escalating Middle East conflicts caused crude oil prices to surge by 52.8% in a single month, significantly disrupting supply chains and raising energy costs for the heavily reliant APEC region.
Rising fuel costs, shipping disruptions, and APEC's dependence on Middle Eastern fertilizer imports are driving sharp increases in food prices, particularly for vegetable oils, cereals, and meat, burdening households and businesses.
The trade outlook darkens with projected merchandise export growth plunging from 7.6% last year to 3.3-3.7% between 2026 and 2028, exacerbated by increasing tariffs and restrictive trade measures.

Six injured after car smashes into On Nut shopping mall

Yesterday 22:44 Key points summarised by AI

A 67-year-old woman drove her car through the glass frontage of a Bangkok shopping mall, injuring six people, including a six-year-old girl.
The driver claimed she accidentally pressed the accelerator instead of the brake after being startled, causing the vehicle to surge forward.
She apologized to the victims, promising insurance coverage and additional financial aid, while police continue to gather statements before filing charges.