Welcome to Your Week in Asia.
The China-led Asian Infrastructure Investment Bank (AIIB), the independence of which was again questioned recently, will choose its next leader, while businesspeople and policymakers will descend on China’s Tianjin for the “Summer Davos.”
In the latter part of the week, Nintendo’s Switch 2 will finally be released in three Southeast Asian countries after a strong debut in other territories.
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MONDAY
Data: Singapore consumer price index, India flash purchasing managers index
TUESDAY
AIIB picks next president
The AIIB begins a three-day annual meeting in Beijing, where the lender will elect a successor to founding President Jin Liqun. He is due to step down next January after serving two five-year terms from the bank’s inception. The favorite to replace him is China’s nominee, Zou Jiayi, who is one of the more than 200 elite members of the Chinese Communist Party Central Committee.
‘Summer Davos’ in Tianjin
The annual summer meeting of the World Economic Forum returns to Tianjin, near Beijing. Among the speakers at the three-day forum are Richard Liu, founder and chairman of Chinese online retailer JD.com; Dai Houliang, chairman of China National Petroleum; and Faisal Alibrahim, the minister of economy and planning of Saudi Arabia. Singaporean Prime Minister Lawrence Wong, who is on a first visit to China as prime minister from June 22 to 26, will also speak at the forum.
NATO summit
Japanese Prime Minister Shigeru Ishiba and new South Korean President Lee Jae Myung aim to meet with U.S. President Donald Trump as they attend the NATO summit in The Hague. But a meeting is far from certain — Trump abruptly left the G7 summit last week due to the conflict between Israel and Iran, which has only escalated since.
Data: Malaysia CPI
WEDNESDAY
Korean War anniversary
The 75th anniversary of the Korean War will be marked as the region continues to feel the conflict’s legacy. South Korea’s new president has extended an olive branch to the North by stopping propaganda broadcast across the Demilitarized Zone, which Pyongyang responded to by turning off its own loudspeakers. However, it remains to be seen if such actions can lead to further reconciliation.
Nikkei-Financial Times energy summit
Nikkei and the Financial Times are hosting Energy Transition Summit Asia in Jakarta on Wednesday and Thursday. The conference will discuss aligning national policies with international commitments to promote sustainable energy. Policymakers and leaders from energy companies set to attend the event include Eniya Listiani Dewi, director general of New, Renewable Energy and Energy Conservation at Indonesia’s Ministry of Energy and Mineral Resources, and John Anis, CEO of Pertamina NRE.
Bank of Thailand monetary policy meeting
Bank of Thailand policymakers will meet to further discuss the economic impact of tariff-related uncertainties. The central bank delivered a 25 basis-point cut in its previous meeting in April. In an exclusive interview with Nikkei Asia in late May, bank Gov. Sethaput Suthiwartnarueput warned that the tariffs could impact a wide range of industries in Thailand, ranging from tires to furniture.
THURSDAY
Switch 2 launch in Southeast Asia
Nintendo’s Switch 2 goes on sale in Singapore, Thailand and the Philippines. The successor to the Switch was launched in Japan, North America, Europe and some other regions on June 5, and quickly smashed records to become the company’s fastest-selling console. In Singapore, Nintendo has set up a pop-up shop at the Jewel Changi Airport retail complex.
Data: Singapore manufacturing index
