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Themed “Where Miracles Happen,” the milestone event honors the pioneering spirit that has propelled generations of HKUST members to achieve remarkable feats. Officiating at the ceremony were Mr. CHAN Kwok-Ki, Chief Secretary for Administration of the HKSAR Government; Mr. LUO Yonggang, Deputy Director of the Liaison Office of the Central People’s Government in the HKSAR (LOCPG); and Dr. CHOI Yuk-Lin, Secretary for Education of the HKSAR Government. They were joined by HKUST Pro-Chancellor Dr. John CHAN Cho-Chak, Council Chairman Prof. Harry SHUM, Court Chairman Dr. the Honorable Andrew LIAO Cheung-Sing, and President Prof. Nancy IP to inaugurate a year of commemorative activities.

A Journey Forged with Vision and Purpose

In her welcome address, President Ip, who joined HKUST in 1993, offered a personal reflection on the University’s remarkable ascent. She witnessed its evolution into a world-class institution; a success built on academic excellence and a vibrant innovation ecosystem created from the ground up. She credited this profound transformation to the extraordinary foresight of the University’s Founding President, Prof. Chia-Wei Woo.

“From its very inception, HKUST was built on a bold and unprecedented vision: to become Hong Kong’s first research-intensive university,” President Ip shared. “Long before the Greater Bay Area concept existed, our founders, led by Prof. Woo, understood that Hong Kong’s future was inextricably linked with the region. This visionary courage saw them forge vital connections with the Chinese Mainland, laying the groundwork for what would become HKUST (Guangzhou) in 2022. Their courage, dedication, and tenacity built the unshakeable foundation on which we stand today.”

President Ip emphasized that the University’s success is measured not by rankings alone, but by its tangible impact on society. This founding DNA—to anticipate and meet societal needs with excellence—is now driving HKUST’s most ambitious chapter yet: the establishment of a new School of Medicine. “This is a transformative milestone, fulfilling a dream pursued for over three decades,” she stated. “We are deeply grateful to the HKSAR Government for its trust and partnership. Together, we will build a technologically advanced, humanistic medical school that ushers in a new era for healthcare in Hong Kong. Let us honor those who walked before us by carrying their courageous legacy into a new era of excellence.”

A Cornerstone of Hong Kong’s Global Leadership

Mr. Chan Kwok-Ki commended HKUST’s profound impact on Hong Kong’s development. “Over the past 35 years, HKUST has evolved from a bold new institution into a globally respected university, driven by visionary leadership, dedicated faculty, a continuing flow of talented students, and an enduring spirit of innovation. Its strong international rankings, vibrant start-up ecosystem, and diverse global student body demonstrate how research and education can deliver tangible societal impact,” he stated. “As Hong Kong advances its role as an international education hub, HKUST stands as a shining example of how universities can nurture global talent while supporting national development priorities. With strengths spanning artificial intelligence, science, and its planned School of Medicine, HKUST is exceptionally well-positioned to shape the future of innovation and talent development.”

Carrying a Pioneering Spirit into the Next Chapter

Prof. Harry Shum reflected on the University’s unique position. “Thirty-five years is a fascinating milestone. In human terms, it is the age of maturity, the point where youthful energy meets seasoned wisdom. And I see the same spirit alive in this institution. We still possess the curiosity and drive of our early years. But now we have the strength, the reputation, and the alumni network that only decades can build. The world is changing faster than ever before. If we are to serve the next generation as well as we have served the past, we must lead, we must innovate, and we must redefine what education can be. In this regard, HKUST is ready to open a new chapter.

“The HKSAR Government has appointed HKUST with the trust to build the third medical school in Hong Kong. We envision the University’s medical school that will bridge traditional medical curriculum with the latest technology and AI breakthroughs, will gradually revolutionize the entire medical spectrum—from diagnosis to treatment to recovery, prevention and personalized medicine. I am confident that this future-oriented medical school, which will admit its first cohort in 2028, will play an important role in educating and training a new generation of scientists and clinicians in the next 35 years and beyond.”

A Celebration of Innovation and Heritage

Reflecting the theme “Where Miracles Happen,” the ceremony showcased HKUST’s leadership in technology in a truly spectacular fashion. In a breathtaking fusion of tradition and innovation, the university’s Guangzhou campus team presented a robotic lion dance. This remarkable creation brought the classic folk art to life through advanced robotics, embodying the spirit of cultural heritage reimagined through cutting-edge engineering.

For the grand officiating ceremony, HKUST turned into an unexpected source of inspiration: humanity’s best friends. But there were no ordinary dogs. A team of robotic dogs—developed by Direct Drive Technology (an HKUST-nurtured startup), the Department of Civil and Environmental Engineering, and the Cheng Kar-Shun Robotics Institute—took center stage. Engineered to navigate complex, uneven terrain and perform dangerous industrial inspections, these four-legged helpers were given a far more meaningful mission for the day: carrying the ceremonial “Miracle Balls” to the officiating guests. As robotic dogs trotted majestically onto stage bearing their precious cargo, they symbolized the University’s commitment to channeling cutting-edge research into real-world applications—and its penchant for making miracles happen.

The ceremony reached its pinnacle with a dramatic display of innovation. In a symbolic gesture of bridging past and future, a drone—generously donated by distinguished alumnus Mr. WANG Tao, Founder of DJI—soared into the venue carrying the commemorative “35th Symbol Key.” As the drone gracefully descended to deliver the key to the officiating party on stage, it signaled the formal inauguration of the anniversary celebrations.

HKUST expressed its deep gratitude to Mr. Wang for his generous donation of two of the latest drone solutions to the university. These state-of-the-art drones will serve as an inspiration for faculty and students to explore and address new challenges in the rapidly evolving low-altitude economy.

The campus itself has been transformed with a “Circle of Time” visual theme, inspired by the iconic Sundial sculpture—a symbol of the University’s enduring legacy and its continuous measurement of progress in education, research, and knowledge transfer.

A Legacy of Excellence and National Trust

Since its founding in 1991, HKUST has risen to rank among the world’s top 50 universities. This commitment to excellence is underscored by the deep trust the nation has placed in the University. Following the reorganization of two existing State Key Laboratories, HKUST has secured approval from the Ministry of Science and Technology to establish a new one, further strengthening its role in advancing cutting-edge research critical to national development.

In a major national space endeavor, HKUST is developing a multi-functional robot for the historic Chang’E-8 lunar mission, designed to operate on the lunar surface and contribute to China’s advancing space exploration capabilities. The University is also leading the development of a high-precision, point-source greenhouse gas detection instrument. This groundbreaking project is set to make history as it will become HKSAR’s first payload to China’s Tiangong Space Station aboard the Tianzhou cargo spacecraft for research and application.

Celebratory Events

A full year of celebratory activities is planned, including co-hosting Asia Universities Summit with Times Higher Education, an AI Film Festival, and joint celebrations with HKUST (Guangzhou).

Global Thought Leadership

Following the symposium held earlier this year, where multiple Nobel laureates and world-leading scholars were invited to engage with HKUST faculty, students and alumni, the University will co-host the THE Asia Universities Summit 2026 with Times Higher Education (THE) this April. The event will draw university presidents and industry leaders from around the world to Hong Kong to explore Asia’s leadership role in driving global change. HKUST will also host the China Association of Higher Education’s flagship “World University Presidents Forum” for the first time in Hong Kong.

AI and Innovation Thematic Events

HKUST will organize a series of events focused on AI, technology governance and creative culture—including an AI Film Festival—to highlight the University’s leadership and societal impact in AI.

Building the HKUST Community

The University will host joint celebrations across its Clear Water Bay and Guangzhou campuses, including a year-long blood donation drive, a marathon, a “Mixed Reality x AI” art exhibition, and more, to foster closer interaction between faculty and students from the two campuses. HKUST will also organize a grand anniversary gala dinner to celebrate with faculty, students, alumni and community leaders, alongside a digital commemorative booklet that recounts the University’s 35 years of outstanding achievements with society.

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About The Hong Kong University of Science and Technology

The Hong Kong University of Science and Technology (HKUST) (https://hkust.edu.hk/) is a world-class university known for its innovative education, research excellence, and impactful knowledge transfer. With a holistic and interdisciplinary pedagogy approach, HKUST was ranked 6th in the QS Asia University Rankings 2026, 3rd in the Times Higher Education’s Young University Rankings 2024, and 19th globally and 1st in Hong Kong in the Times Higher Education’s Impact Rankings 2025. Thirteen HKUST subjects were ranked among the world’s top 50 in the QS World University Rankings by Subject 2025, with “Data Science and Artificial Intelligence” coming in 17th worldwide and first in Hong Kong. Our graduates are highly competitive, consistently ranking among the world’s top 30 most sought-after employees. In terms of research and entrepreneurship, over 80% of our work was rated “internationally excellent” or “world leading” in the Research Assessment Exercise 2020 of the Hong Kong’s University Grants Committee. As of January 2026, HKUST members have founded over 1,900 active start-ups, including 10 Unicorns and 21 exits (IPO or M&A).

VinFast plans to restart construction of its electric vehicle manufacturing complex in North Carolina this year, even as the Vietnamese automaker reported a deeper quarterly loss driven by rising costs tied to expansion, marketing and production ramp-ups.

The company said the project in Chatham County will move forward after earlier delays tied to supply-chain adjustments and financing decisions. The facility, once completed, is expected to anchor VinFast’s ambitions in the United States market, producing electric sport utility vehicles and battery packs aimed at competing with established global manufacturers.

The announcement came alongside financial results that showed losses widening in the final quarter of the year as the company continued investing heavily in overseas manufacturing capacity and global sales networks. VinFast, part of Vietnam’s conglomerate Vingroup, has been expanding aggressively beyond Southeast Asia in a bid to gain a foothold in one of the world’s largest electric-vehicle markets.

Chief executive Le Thi Thu Thuy said the company remained committed to its strategy of building a manufacturing presence close to customers in key markets. Executives argue that local production in the United States will help VinFast reduce logistics costs, navigate tariff regimes and qualify for incentives tied to domestic manufacturing under US clean-energy policies.

The North Carolina facility represents one of the most significant foreign manufacturing investments announced by a Vietnamese company. Plans call for an initial production capacity of around 150,000 vehicles annually once the site becomes operational. The project also includes battery production facilities and a supplier ecosystem expected to attract component manufacturers to the region.

Construction began after the project was announced with strong backing from state authorities, who offered incentive packages to attract the investment. Delays followed as the company reviewed construction schedules and adjusted financing strategies while global demand for electric vehicles experienced uneven growth. VinFast has now indicated work will restart this year as preparations move into the next phase.

The company’s financial statements showed that aggressive expansion continued to weigh on profitability. VinFast has been spending heavily on vehicle development, dealer networks, charging infrastructure partnerships and marketing campaigns in North America and Europe. These investments have expanded operating losses even as vehicle deliveries increased.

VinFast’s product portfolio currently includes several electric SUVs, including the VF 6, VF 7, VF 8 and VF 9 models, which target different segments of the global market. Early deliveries in the United States began with the VF 8, while additional models are being introduced gradually as the company builds service and distribution networks.

Industry analysts say VinFast’s strategy mirrors that of other emerging electric-vehicle manufacturers that are prioritising market share and brand recognition over short-term profitability. Building manufacturing capacity in major markets is seen as essential for competing with established automakers and benefiting from incentives tied to local production.

Global demand for electric vehicles continues to grow, though the pace has moderated in some markets as higher interest rates and infrastructure challenges influence consumer purchasing decisions. Established manufacturers including Tesla, General Motors and Ford have adjusted production plans in response to evolving market conditions, while new entrants continue pushing forward with long-term investments.

VinFast’s push into the United States comes as competition intensifies across the electric-vehicle sector. Chinese manufacturers have rapidly expanded production capacity and export volumes, while European and North American automakers are investing billions of dollars in battery technology and electric platforms.

Executives at VinFast argue that the company’s vertically integrated model, which includes battery development and vehicle production within the broader Vingroup ecosystem, gives it flexibility to adapt to changes in supply chains and technology. The company has also explored partnerships with technology firms and battery specialists as it scales manufacturing.

North Carolina officials have described the planned factory as a potential economic catalyst for the region, with expectations of thousands of jobs and the development of an automotive supply chain around the plant. Infrastructure upgrades and workforce training programmes are being planned alongside the project as authorities prepare for construction to accelerate.

VinFast’s global expansion forms part of Vietnam’s broader push to develop advanced manufacturing industries capable of competing internationally. The country has emerged as a major hub for electronics production, and policymakers have encouraged the growth of domestic companies capable of expanding into high-technology sectors such as electric mobility.

Financial markets have watched VinFast closely since its public listing in the United States, where its share price has experienced sharp swings amid changing investor expectations about the pace of growth in the electric-vehicle sector. Investors have been assessing the company’s ability to scale production, expand deliveries and narrow losses as global competition intensifies.

FILMART 2026 will take place from 17–20 March 2026 at the Hong Kong Convention and Exhibition Centre (HKCEC) in the Hong Kong Special Administrative Region of the People’s Republic of China. The event provides an opportunity for Thai content companies to connect with international buyers, investors, and industry partners while showcasing the strengths of Thailand’s entertainment industry on the global stage.

Ms. Sunanta Kangvalkulkij, Director-General of the Department of International Trade Promotion (DITP), stated that the department places strong emphasis on supporting Thailand’s content and entertainment industry in international markets. DITP aims to help Thai entrepreneurs expand business opportunities and strengthen partnerships with global industry players, while enhancing the competitiveness of Thai companies in the global marketplace.

“Thailand’s participation in FILMART and the organization of Thai Night Hong Kong 2026 provide an important platform to present the capabilities of Thai content companies and to foster new partnerships with international producers, distributors, and investors. These activities will help expand business opportunities and further promote Thai content in global markets,” she said.

At FILMART 2026, Thailand will showcase the strengths of its entertainment industry through four strategic pillars: Talents, Locations, Production, and Post-production. These pillars highlight Thailand’s skilled creative professionals, diverse filming locations, internationally recognized production standards, and advanced post-production capabilities, including visual effects and animation, supported by government measures that help facilitate international investment.

At the same time, DITP continues to capitalize on the growing global popularity of Y and GL series, one of the fastest-growing segments of Thailand’s entertainment industry, with valued at more than THB 4.9 billion in 2025. These genres have gained strong international fan bases and present significant opportunities for Thai content to reach global audiences.

Thailand is also encouraging the development of new content formats such as short-form dramas, which are increasingly popular on digital platforms and streaming services. These formats allow Thai creators to expand their presence across global distribution channels and reach wider international audiences.

With the remarkable growth and international recognition of Thailand’s entertainment industry in recent years—driven by talented filmmakers, diverse filming locations, and high production standards—Thai Night Hong Kong 2026 aims to move beyond showcasing industry capabilities toward fostering concrete international business collaboration.

A key highlight of the event will be the creation of a strategic platform for partnership discussions between Thai entrepreneurs and international industry partners. The event is expected to welcome more than 500 global investors, producers, directors, and media representatives, providing opportunities to expand business partnerships and further strengthen Thailand’s presence in the global entertainment industry.

For more information and updates about Thai Night Hong Kong 2026 and Thailand’s participation in FILMART 2026, please visit:
www.ditp.go.th
www.facebook.com/thailandfilms

Hashtag: #DITP

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• Through the partnership, Ant International secures comprehensive marketing rights of the Argentine Football Association (AFA) and world-class players of the Argentine National Football Team to launch strategic activations across its brand portfolio, including Alipay+, Antom, Bettr and WorldFirst

BUENOS AIRES and SINGAPORE – Media OutReach Newswire – 16 March 2026 – Ant International, a leading global payment, digitisation, and fintech solutions provider for merchants and financial institutions, today announced a partnership with the Argentine Football Association (AFA), becoming an Official Sponsor of the Argentine National Football Team for the Asia region (excluding the Middle East).

With over 30 offices around the world, Ant International provides AI- and blockchain-empowered cross-border digital payment, treasury and digitalisation solutions for global merchants and financial institutions. Building on broad regional collaborations, its digital payment and account services connects 150 million+ merchants to 1.8 billion consumer accounts in the Asia Pacific by integrating 300+ of mainstream and alternative payment methods.

This agreement unites the reigning FIFA World Cup Champions with one of the world’s most innovative financial technology providers. Through this partnership, Ant International secures comprehensive marketing rights to launch strategic activations across its brand portfolio, including Alipay+, Antom, Bettr and WorldFirst, by leveraging the intellectual property of the AFA and the world-class players of the Argentine National Football Team.

“We are incredibly proud to support the Argentine national team, a beacon of excellence, teamwork, and global inspiration,” said Peng Yang, Chief Executive Officer of Ant International. “Sports and tech are two critical bonds for communities and markets that break barriers and connect people. Together we will bring more extensive and enriched football experience and community impact through our Asia fintech and digital services network.”

With three FIFA World Cup triumphs in 1978, 1986, and 2022, and having reached the global final on six historic occasions, the Argentine National Team occupies a hallowed place in the pantheon of sporting legends. As the standard-bearers of the “Albiceleste” spirit, the team is defined by a century-old lineage of virtuosity and an unwavering commitment to the pursuit of glory.

“Football is the ultimate universal language. It serves as a powerful bridge that transcends borders and connects the entire world,” said Claudio Fabian Tapia, President of AFA. “Through this partnership, we are excited to bring that connection to an even wider audience in Asia.”

“This partnership is a commitment to long-term success and a strategic union of two global leaders,” said Leandro Petersen, Chief Commercial and Marketing Officer of AFA. “By joining forces, we aim to deepen our presence in Asia and achieve new heights in both sports and fin-tech.”

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About Ant International

Ant International is a leading global digital payment, digitisation and financial technology provider. Through collaboration across the private and public sectors, our unified techfin platform supports financial institutions and merchants of all sizes to achieve inclusive growth through a comprehensive range of cutting-edge digital payment and financial services solutions. To learn more, please visit https://www.ant-intl.com/

Official data released by the National Bureau of Statistics showed value-added industrial output rose 6.3 per cent year on year during January and February combined. The figure marked an acceleration from the 5.2 per cent growth recorded in December and exceeded forecasts by economists who had anticipated a more modest rise of around five per cent.

Authorities combine the first two months of the year when reporting major economic indicators to smooth distortions created by the Lunar New Year holiday, which shifts between January and February and can disrupt production schedules and consumer spending patterns.

The latest figures indicate that industrial activity remains one of the more resilient pillars of China’s economic performance. Manufacturing, mining and utilities production all contributed to the increase, with higher-value sectors linked to technology and advanced equipment manufacturing continuing to expand.

Stronger factory output came alongside moderate improvement in other key indicators. Retail sales, a broad measure of consumption, climbed 2.8 per cent during the same period, signalling some recovery in household spending after a subdued end to the previous year. Fixed-asset investment, which tracks spending on infrastructure, property and equipment, rose 1.8 per cent after contracting during 2025.

Analysts view the combination of rising industrial production and steady investment as evidence that state-backed infrastructure projects and export-oriented manufacturing are helping stabilise growth, even as other sectors continue to face pressure.

Manufacturing linked to high-technology and green industries has been a central driver of output gains. Production of computers, communications equipment and advanced machinery has expanded more rapidly than traditional heavy industries, reflecting Beijing’s push to upgrade the country’s industrial base and strengthen technological self-reliance. Data on industrial structure show that more than thirty of the country’s forty-one major manufacturing categories recorded growth during the past year, underlining the breadth of activity across sectors.

Exports have also provided support. Overseas shipments from China surged at the start of the year, led by electronics, semiconductors and equipment associated with artificial intelligence infrastructure. Robust global demand for solar panels, electric vehicles and lithium batteries has further reinforced factory activity, with these sectors often described as part of China’s emerging “new three” export engines.

Despite the stronger industrial figures, economists caution that the broader economic outlook remains uneven. Domestic consumption has not fully regained momentum, and households continue to show caution in discretionary spending. Retail sales growth, although improving, still lags behind pre-pandemic levels, highlighting lingering uncertainty among consumers.

A prolonged downturn in the property sector remains one of the most significant drags on economic confidence. Investment in real estate development has declined sharply over the past several years, and housing sales have contracted as developers grapple with high debt levels and weak buyer demand. The downturn has had ripple effects across construction, steel, cement and household goods industries, sectors traditionally linked to housing activity.

Labour market conditions also present a mixed picture. Urban unemployment rates have edged higher, with the jobless rate reaching slightly above five per cent early in the year. Rising employment pressure, particularly among younger workers and graduates, has become a focus of policy discussions as authorities seek to sustain economic stability.

Manufacturing sentiment indicators underscore these challenges. Official purchasing managers’ surveys have slipped below the expansion threshold of 50, suggesting some factories are experiencing slower order growth and cautious business expectations. Analysts note that while export-oriented companies continue to benefit from global demand, firms dependent on domestic consumption face more subdued conditions.

Beijing has set a national economic growth target of around 4.5 to 5 per cent for 2026, the lowest range in decades and a signal that policymakers are preparing for a more moderate expansion phase as structural adjustments reshape the economy. The leadership has repeatedly emphasised the need to strengthen domestic demand while maintaining technological advancement and industrial upgrading.

Infrastructure spending remains a key policy lever. Local governments have accelerated projects in transportation networks, energy systems and digital infrastructure, helping sustain industrial demand for materials and equipment. Investment in strategic industries, including renewable energy and advanced manufacturing, continues to receive policy support.

Global developments also weigh on the outlook. Geopolitical tensions and fluctuations in energy prices could affect trade flows and production costs, while shifting trade policies among major economies present another layer of uncertainty for exporters.

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Forvis Mazars in Singapore

About Forvis Mazars in Singapore
Forvis Mazars Group SC is an independent member of Forvis Mazars Global, a leading professional services network. Operating as an internationally integrated partnership in over 100 countries and territories, Forvis Mazars Group specialises in audit, tax and advisory services. The partnership draws on the expertise and cultural understanding of over 40,000 professionals across the globe to assist clients of all sizes at every stage in their development. Forvis Mazars in Singapore is part of the Forvis Mazars Group. Our clientele benefits from the combined expertise of 400+ Singapore-based professionals and our international team.

About Forvis Mazars APAC
Present in Asia Pacific since 1997, Forvis Mazars operates in more than 15 countries and territories in the region and draws on the expertise of over 10,100 professionals in more than 60 offices. We work as one integrated team, leveraging expertise, scale and cultural understanding to deliver exceptional and tailored services in audit and accounting, as well as tax, financial advisory, outsourcing, consulting, sustainability and legal services.

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Central Board of Secondary Education has cancelled all Class 12 board examinations scheduled between March 16 and April 10 across several Middle Eastern countries, citing security concerns linked to the widening conflict involving Iran and regional powers.

The decision affects CBSE-affiliated schools in Bahrain, Iran, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, where thousands of expatriate students were preparing for the final phase of the 2026 board examination cycle. The board said all remaining and previously postponed examinations for Class 12 in these locations stand cancelled and that an alternative evaluation method for students will be announced separately.

Officials indicated that safety considerations were the primary factor behind the move as tensions and military activity across parts of West Asia disrupted normal operations, including international travel and school schedules. Schools across the region had already reported logistical difficulties, uncertainty among students and disruptions to classroom teaching as governments issued security advisories and airlines altered flight routes.

The cancellation marks the culmination of a series of escalating measures by the board over the past weeks. Earlier in March, several examinations scheduled for overseas centres in the region were first postponed following a review of the geopolitical situation. Papers scheduled between March 9 and March 11 were delayed, with authorities saying conditions would be reassessed before deciding whether to continue with the examination calendar.

Subsequent circulars extended the postponement to additional dates as regional uncertainty deepened, affecting exam centres that serve large expatriate student communities in Gulf states. The board had already cancelled Class 10 examinations in the region earlier in the month, indicating that authorities were increasingly concerned about the ability of schools to conduct secure and orderly examinations during the conflict.

CBSE-affiliated institutions in the Gulf represent a significant segment of the overseas education network linked to the board’s curriculum. More than 150 schools operate across West Asia under CBSE affiliation, serving children of expatriate professionals working in sectors ranging from construction and healthcare to technology and finance. These schools follow the same academic calendar and examination framework as institutions in India, with board examinations playing a decisive role in university admissions.

Students and parents across the region had been closely monitoring official notifications as the situation evolved. The postponements earlier triggered confusion among candidates preparing for key subjects, particularly because board examinations typically determine eligibility for higher education programmes both in India and internationally.

Education administrators say the uncertainty surrounding examinations has added pressure on students who had spent months preparing for the crucial assessments. Community organisations representing expatriate families in Gulf countries had appealed to authorities for a decision that would prioritise student welfare and minimise academic disruption.

School leaders in the United Arab Emirates and Saudi Arabia described the board’s decision as a difficult but necessary step given the circumstances. Administrators had warned that maintaining examination schedules amid heightened security concerns could expose students, invigilators and school staff to unnecessary risks, especially in locations where travel advisories or temporary airspace restrictions complicated logistics.

Education experts note that examination cancellations in overseas centres remain rare, reflecting the exceptional circumstances affecting the region. Board examinations are normally conducted simultaneously across India and international centres to maintain standardised assessment procedures.

Authorities are now expected to announce a mechanism for evaluating the performance of affected students. Education analysts say possible options could include internal assessment scores, practical examination results or a formula combining school-based evaluations with earlier academic performance. Similar methods have been used during extraordinary disruptions in the past to ensure students are not disadvantaged in university admissions.

Universities and higher-education institutions that admit CBSE students are also monitoring developments closely. Admission timelines in many countries coincide with the board examination season, making timely declaration of results critical for students applying to degree programmes abroad.

Parents and teachers say clarity on the evaluation process will be essential in the coming days. Many schools have begun counselling sessions and online support programmes to help students manage anxiety and remain focused on academic planning despite the upheaval.

Rising oil prices linked to the war involving Iran are creating fresh economic strain for Indonesia just as millions prepare for the annual Eid al-Fitr travel surge, placing President Prabowo Subianto’s administration under mounting pressure to shield consumers from higher fuel costs.

Energy markets have been rattled by escalating conflict across the Persian Gulf, where attacks on shipping routes and oil infrastructure have disrupted global crude supplies. A large share of the world’s petroleum exports passes through the Strait of Hormuz, a narrow maritime corridor connecting Gulf producers with international markets. Disruption to tanker traffic through this chokepoint has pushed benchmark crude prices sharply higher, triggering fuel price increases across Asia and raising fears of supply shortages in import-dependent economies.

Indonesia faces particular vulnerability because it relies heavily on imported energy. Around a quarter of its crude oil and roughly a third of liquefied petroleum gas supplies originate in the Middle East. Shipping disruptions in the Gulf have already complicated trade flows, with tanker movements slowed by security risks and insurance costs rising for vessels operating in the region. Market volatility has driven crude prices beyond the psychological threshold of $100 per barrel, fuelling concern that further escalation could drive them even higher.

The timing of the price shock has heightened the challenge for Jakarta. Eid al-Fitr, marking the end of Ramadan, triggers one of the largest annual travel movements in the country as families journey from major cities to hometowns across the archipelago. State energy company Pertamina anticipates gasoline demand during the holiday period to climb by more than 10 per cent, intensifying pressure on supply chains already strained by global market turbulence.

Authorities have attempted to reassure the public that domestic fuel supplies remain sufficient. Officials say government stockpiles and logistics networks can support the expected surge in consumption during the festive season. At the same time, policymakers have signalled that subsidised fuel prices will remain unchanged until the Eid holidays conclude, a move designed to prevent abrupt increases in transport costs during the peak travel period.

Holding prices steady carries significant fiscal implications. Indonesia already devotes substantial resources to energy subsidies, allocating more than 380 trillion rupiah in the state budget to keep fuel and electricity costs manageable for households and businesses. Sustaining those subsidies while global oil prices rise could widen the fiscal deficit or force adjustments elsewhere in the budget.

Economists warn that prolonged turbulence in global oil markets may reverberate across the broader economy. Higher crude prices increase the cost of imports and can erode Indonesia’s trade balance, particularly because the country has transitioned from being an oil exporter to a net importer over the past two decades. Analysts estimate that each $10 increase in the price of oil could shave hundreds of millions of dollars from the country’s trade surplus while raising domestic inflationary pressures.

Currency markets have already reacted to the geopolitical shock. The rupiah has faced downward pressure amid investor concerns about rising energy import costs and potential fiscal strain from expanded subsidies. A weaker currency makes fuel imports more expensive, compounding the burden on state finances and increasing the risk that domestic prices may eventually need to adjust.

Officials are exploring alternative strategies to mitigate the impact. One approach involves diversifying crude imports away from the Middle East by securing additional shipments from suppliers such as the United States and other regions less affected by the conflict. Authorities are also considering longer-term measures including accelerated blending of biofuels and the expansion of renewable energy capacity to reduce dependence on imported oil.

Energy security has become a central concern for policymakers across Southeast Asia as the Gulf crisis unfolds. Countries throughout the region rely heavily on imported petroleum and have limited capacity to absorb sustained price shocks. Governments have begun introducing conservation measures, adjusting subsidies, and seeking alternative suppliers as they attempt to stabilise domestic markets.

Indonesia’s logistical challenges are magnified by its geography. The archipelago spans more than 17,000 islands, making fuel distribution complex even during stable market conditions. Sudden shifts in global prices can ripple quickly through domestic supply chains, affecting transportation costs, food prices, and broader consumer inflation.

Political pressures add another layer of complexity for the administration. Public sensitivity to fuel prices has historically been high, and previous attempts to reduce subsidies have sparked protests and social unrest. Managing the current crisis therefore requires balancing fiscal prudence with the need to maintain social stability and support economic growth.

Market analysts say the duration of the Middle East conflict will determine how severe the economic impact becomes. If disruptions to shipping lanes and energy infrastructure persist, global crude supplies could tighten further, pushing prices to levels that strain government budgets and household finances alike. A prolonged crisis could also prompt broader shifts in energy policy, encouraging faster investment in domestic energy resources and renewable alternatives.