ASIA

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In a move reflecting growing inflationary pressures, Japan's central bank has raised borrowing costs to their highest point in 17 years, setting its short-term policy rate to "around 0.5 percent". The decision followed data showing consumer prices in Japan climbed at their fastest rate in 16 months.

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Imran Khan, former Prime Minister of Pakistan, has been sentenced to 14 years in prison for corruption, his longest jail term to date. The cricket star-turned-politician, who has been detained since August 2023, has been charged in over 100 cases which he claims are politically motivated.

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Sri Lanka has secured a record $3.7 billion foreign investment from Chinese oil giant Sinopec to build a "state-of-the-art oil refinery" in Hambantota. Officials announced the deal Thursday, stating the refinery will have a capacity of 200,000 barrels.

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Treasury minister Tulip Siddiq has resigned following mounting pressure related to an anti-corruption investigation in Bangladesh. Siddiq had previously referred herself to the prime minister's standards adviser, Sir Laurie Magnus, amid questions concerning her connections to her aunt, who was removed from office as Bangladesh's prime minister last year.

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Fan Weiqiu, the perpetrator of a deadly car attack that killed at least 35 people in China last November, has been executed. The 62-year-old deliberately drove his vehicle into a group of people exercising in Zhuhai, leaving dozens more injured in what is believed to be the country’s deadliest such attack in a decade.

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Japanese Prime Minister Shigeru Ishiba conveyed "strong" concerns to US President Joe Biden regarding the blocking of Nippon Steel's proposed takeover of US Steel, according to local media reports on Monday. The issue was raised during a three-way call with the President of the Philippines, which also included discussions about China's "dangerous and unlawful" behavior in the region, as stated by the White House.