Arabian Post Staff -Dubai Saudi Arabia has launched the pilot phase of “Ahlan”, a new mobile application designed to serve as a single digital identity for supporters attending football tournaments hosted by the Kingdom, as organisers step up preparations for the AFC Asian Cup Saudi Arabia 2027. The platform is intended to bring together trip planning, ticketing, transport and stadium access in one system, with the first […]
Arabian Post Staff -Dubai UAE equities ended Friday on a divided note as investors weighed the prospect of a wider Middle East conflict after U. S. President Donald Trump signalled that Washington could intensify attacks on Iranian infrastructure, a message that added to concern over energy supplies, shipping routes and regional risk appetite. Dubai’s main index fell, while Abu Dhabi’s benchmark edged higher, reflecting a market torn […]
Arabian Post Staff -Dubai Patients in the UAE are set to gain access from May to a new once-daily obesity treatment in tablet form after the Emirates Drug Establishment approved Eli Lilly’s Foundayo, known chemically as orforglipron, marking what officials described as the second national registration for the medicine and widening treatment choices beyond injections. The decision places the UAE among the earliest markets to back a […]
Dubai Municipality has unveiled a Dh150 million plan to install electric-vehicle supercharging facilities across 600 public parking spaces at parks, beaches and recreational sites, in a move aimed at widening access to charging beyond roadsides, malls and fuel stations. The scheme, announced on Friday, is being rolled out with Emarat EV Charging Stations Company, known as UAEV, and its first phase will bring 75 supercharging stations serving […]
Iran struck Gulf energy infrastructure again overnight into Friday, setting fire to Kuwait’s Mina al-Ahmadi refinery and damaging a power and water desalination plant, as US President Donald Trump warned that Washington could escalate by targeting more of Iran’s infrastructure if Tehran did not yield. The attacks sharpened fears that a conflict already disrupting shipping and fuel markets is moving deeper into the economic core of the […]
A UNESCO-Recognized Festival Reimagined Through Immersive Cultural Experiences, Iconic Entertainment, and Thailand’s Most Breathtaking Chao Phraya Riverfront Setting from April 10–15, 2026
BANGKOK, THAILAND – Media OutReach Newswire – 4 April 2026 – ICONSIAM, the global landmark on the banks of the Chao Phraya River, in collaboration with leading public and private sector partners, announces the return of its flagship Water Festival, “ICONSIAM THAICONIC SONGKRAN 2026.” Taking place from April 10–15, 2026 at River Park, this six-day riverside celebration reimagines Thailand’s most beloved New Year festival into a world-class cultural phenomenon—recognized by UNESCO as part of the Intangible Cultural Heritage of Humanity. Designed as a true THAICONIC experience, the festival seamlessly blends the richness of Thai cultural heritage with contemporary entertainment, offering visitors an extraordinary multi-sensory journey. From exhilarating water festivities along the Chao Phraya River, featuring a spectacular 9-meter Thai elephant water landmark and family-friendly play zones to an unprecedented lineup of 76 top artists, vibrant Songkran parades led by iconic figures, and meaningful merit-making rituals with revered Buddha images and sacred waters from nine renowned temples, the celebration captures the full spirit of Songkran across every dimension. Building on its success in welcoming over 1.4 million visitors last year, ICONSIAM continues to elevate Songkran onto the global stage, reinforcing Thailand’s position as a premier cultural tourism destination while driving economic momentum and tourism growth in the second quarter of the year.
A Global Celebration Driving Thailand’s Festival Economy
Mr. Supoj Chaiwatsirikul, Managing Director of ICONSIAM Co., Ltd., stated, “Songkran remains one of the most significant drivers of Thailand’s festival economy, particularly across the tourism, retail, and hospitality sectors. According to the Tourism Authority of Thailand, this year’s Songkran period is projected to generate over 30.35 billion baht in domestic economic circulation—an increase of 6% from the previous year, with approximately 500,000 international visitors expected to travel to Thailand, reflecting a 4% year-on-year growth. These figures underscore Songkran’s growing status as a truly global festival and one of Thailand’s most powerful attractions for international travelers.
As a leader in creating iconic, world-class experiences, ICONSIAM continues to elevate ‘ICONSIAM THAICONIC SONGKRAN 2026′ as a landmark celebration that showcases the rare and enduring beauty of Thai cultural traditions. Under the concept of ‘Splashing Fun, Joyful Celebrations, and Auspicious Thai New Year,’ the event brings together the very best of Thailand into one extraordinary riverside experience along the Chao Phraya River. More than a celebration, this festival is a powerful expression of national pride and cultural identity, reinforcing ICONSIAM’s position as a Global Experiential Destination. We are confident that this year’s event will further strengthen Bangkok’s reputation as one of the world’s most compelling cultural destinations, while driving tourism growth and stimulating economic momentum throughout the second quarter of the year.”
Highlights of the “4 THAICONIC Experiences – The Ultimate Songkran Journey”
THAICONIC WATER FESTIVAL – The Ultimate Riverside Water
ExperienceExperience Songkran like never before with an extraordinary water playground inspired by Thailand’s beloved national symbol, the elephant. At its heart stands a spectacular 9-meter-tall water-spraying installation created in collaboration with Dee SweetDrug Studio. The vibrant space also features a dedicated Kids Zone for family-friendly fun, alongside solar-powered drying zones —reflecting ICONSIAM’s commitment to sustainability.
THAICONIC ENTERTAINMENT – A Festival of Modern Icons
Immerse in an electrifying lineup of Thailand’s top artists and rising stars through dynamic mini concerts and live performances throughout the six-day celebration. Artists include Tle–Firstone, TeeTee–Por, Auau-Save, Daou–Offroad, KT Kratae, New Country, Sornram Namphet, and more.
THAICONIC HERITAGE – A Living Showcase of Thai Identity
Witness a magnificent Songkran parade that brings Thailand’s cultural legacy to life through elaborately designed floats inspired by historical eras. For the first time, cultural icons LingOrm, a popular Thai actress duo, and 4EVE, Thailand’s leading T-pop girl group, embody the Songkran Goddess “Rakshasadevi,” reinterpreting Thai tradition through a contemporary global lens. Visitors can further explore authentic Thai culture through traditional performances and regional culinary delights at SOOKSIAM, alongside over 170 dining options across ICONSIAM.
THAICONIC BLESSED BEGINNINGS – A Sacred Start to the Thai New Year
Embrace the spiritual essence of Songkran through a revered Buddha bathing ritual at River Park. Enhanced with holy water from nine esteemed temples across Thailand, this sacred ceremony symbolizes prosperity, renewal, and auspicious beginnings for the year ahead.
A Must-Visit Songkran Destination in Bangkok
Seamlessly blending cultural authenticity, rich traditions, and large-scale entertainment, ICONSIAM continues to redefine Songkran as a truly global celebration.
Join us at “ICONSIAM THAICONIC SONGKRAN CELEBRATION 2026,” where Thailand’s most cherished tradition is brought to life in an unforgettable riverside experience of water, culture, and joy—set against the iconic Chao Phraya River from April 10–15, 2026, with free entry for all visitors. As part of the celebration, international visitors dressed in traditional Thai attire will receive a 300-baht gift card, adding a special touch to their cultural experience.
For more information, please call 1338 or visit Facebook: ICONSIAM.
Oil prices jumped sharply on Thursday after US President Donald Trump said the United States would step up attacks on Iran over the coming weeks, stoking fears that disruptions around the Strait of Hormuz could last longer and tighten supplies of crude and refined fuels across global markets. West Texas Intermediate settled at $111.54 a barrel after surging more than 11%, while Brent closed near $109.03, extending […]
President Donald Trump on Thursday sharpened his threat against Iran by publicly celebrating the destruction of a major bridge and warning that more infrastructure could be hit unless Tehran accepts a deal, a move that deepened concern over the direction of the conflict and added to volatility across energy and financial markets. In a social media post, Trump said “the biggest bridge in Iran” had come […]
A powerful undersea earthquake off Indonesia’s eastern islands killed at least one person, damaged homes and public buildings, and triggered a tsunami warning that was later lifted after small waves were recorded along parts of the coast. Authorities said the magnitude 7.4 quake struck northwest of Ternate in North Maluku at a depth of about 35 km, sending residents into the streets in Ternate, Bitung and Manado […]
Japan’s retail earnings season has opened with a split verdict for two of its best-known consumer groups, as Fast Retailing, owner of Uniqlo, delivered stronger profit momentum while Seven & i Holdings, parent of 7-Eleven, continued to face weaker earnings and a more clouded outlook. The divergence has sharpened investor attention on how Japanese retailers are handling softer demand, overseas expansion and trade uncertainty. Fast Retailing […]
Greenlogue/AP TotalEnergies and Abu Dhabi Future Energy Company PJSC – Masdar have signed a binding agreement to create a $2.2 billion joint venture that will combine their onshore renewable energy activities across nine Asian markets, in a move that underlines how large energy groups are shifting capital towards power demand growth in the region. The partners said the new platform will be owned equally, based in Abu […]
JAKARTA, INDONESIA – Media OutReach Newswire – 3 April 2026 – Green SM Indonesia and Bank Central Asia (BCA) today announced the signing of a five-year investment loan agreement with a total value of IDR 600 billion, marking the formalization of a long-term financial partnership between the two parties.
Green SM Indonesia has officially signed a IDR 600 billion investment loan agreement with BCA, strengthening its long-term financial foundation and advancing sustainable urban mobility in Indonesia.
The agreement marks the next phase of cooperation between Green SM Indonesia and BCA, reflecting a shared commitment to supporting sustainable, well-governed business development in Indonesia’s urban mobility sector.
The investment loan facility is intended to support Green SM Indonesia’s operational readiness and service continuity. The facility provides a stable financial structure to underpin the company’s disciplined growth approach and support consistent service delivery across its existing urban operations.
The signing builds on earlier cooperation between the two parties, which began with Green SM’s market launch in Jakarta in December 2024. Since then, BCA and Green SM Indonesia have collaborated on customer-focused programs and initiatives to improve service accessibility and raise awareness of environmentally responsible transportation solutions. The transition from cooperation activities to a formal financing arrangement reflects the maturation of this partnership and BCA’s support in Green SM Indonesia’s operational model and governance standards.
The cooperation also reflects BCA’s broader role in supporting business sectors that are adapting to evolving urban development needs, including shifts toward more efficient and forward-looking mobility solutions.
Representing BCA, Mr. Denny Haryanto, SVP Corporate Banking BCA said: “This agreement reflects our approach to supporting businesses with a long-term outlook. Sustainable transportation is increasingly important to Indonesia’s urban development. Through this cooperation, we support initiatives that align with long-term economic resilience and environmental responsibility.”
Mr. Deny Tjia, Managing Director of Green SM Indonesia, said the agreement reflects trust built through consistent cooperation and shared values. “The investment loan agreement reflects recognition of the disciplined operating model and long-term development orientation that Green SM Indonesia has pursued since its early stages. The facility further strengthens the company’s financial foundation, supporting stable and consistent service delivery across the cities where it operates.”
Since commencing operations, Green SM Indonesia has established a presence in several major urban centers, including Jakarta, Makassar, Bekasi, Surabaya, and Bali. These cities face increasingly complex urban mobility requirements alongside rising expectations for cleaner, more responsible transport solutions. In the Indonesian market, Green SM provides all-electric taxi services that support routine urban travel while reducing emissions and noise. The company’s operating approach emphasizes reliability, professional service standards, and scalability aligned with city-level transport planning.
Through this agreement, Green SM Indonesia and BCA reaffirm their shared view that the transition to sustainable urban mobility requires not only electric vehicle technology but also sound financial structures, responsible governance, and long-term commitment. The investment loan agreement is a practical step to support that transition in Indonesia’s evolving mobility landscape.
Hashtag: #GreenSM
The issuer is solely responsible for the content of this announcement.
About GSM & Green SM
GSM (Green Smart Mobility) is the world’s first company to operate an all-electric ride-hailing service across multiple platforms. As a pioneer in sustainable transportation, GSM has built the foundation for a cleaner, smarter, and more responsible mobility model powered entirely by VinFast electric vehicles. GSM is committed to developing a future-ready mobility ecosystem and inspiring greener lifestyles in countries rapidly embracing sustainability.
Green SM is GSM’s official global brand, representing the company’s vision and values in every market it serves. In Southeast Asia, Green SM operates in Indonesia; under the name Xanh SM in Vietnam and Laos; and as Green GSM in the Philippines. Across all markets, the brand offers a refined travel experience with VinFast electric cars, professional drivers, and a service culture centered on safety and care.
Green SM represents progress toward a future where technology, the environment, and humanity advance together in harmony. The brand is committed not only to providing zero-emission transportation but also to fostering an environmentally conscious society in every market it serves.
GitHub has been drawn into another cyber threat case after researchers uncovered a multi-stage malware campaign using malicious Windows shortcut files to target users in South Korea, with the code-hosting platform serving as a covert command channel in the infection chain. The operation relied on booby-trapped. LNK files, embedded decoding routines and PowerShell to pull down follow-on payloads, maintain persistence and move stolen data through attacker-controlled infrastructure […]
By Dr. Gyan Pathak While world’s untaxed wealth of the richest 0.1 per cent hidden offshore surpasses entire wealth of the poorest half of the humanity, India remains the receiver of the highest number of the regressive tax recommendations by the International Monetary Fund (IMF) that increases tax burden on the lower-income households more than […]
TAIPEI, TAIWAN – Media OutReach Newswire – 2 April 2026 – The eighth edition of the Taiwan International Fastener Show is scheduled to take place from April 22 to 24, 2026, at the Kaohsiung Exhibition Center. As global supply chains face unprecedented cost pressures and industrial structure shifts, this premier event serves as an essential platform for international buyers to connect with the world’s most resilient manufacturing clusters. Industry professionals are strongly encouraged to pre-register online now at the official website (www.fastenertaiwan.com.tw) to secure their entry and explore the latest innovations from over 300 exhibitors.
Being the only B2B international fastener trade show in Taiwan, Fastener Taiwan showcases a comprehensive spectrum of products and services, including finished fasteners, fastener machines and materials, molds and tooling, inspection instruments, and hand tools.
Innovative and value-added solutions can be found from key participants including Sheh Fung, a leader in high-end painted screws; ZYH YIN, the primary screw supplier to IKEA; TAIWAN SHAN YIN, providing dental implants and automotive components, and SPEC, a qualified supplier for global brands like Tesla and Mercedes-Benz. Additionally, Taiwan Steel Group (TSG) will present integrated solutions for the aerospace and renewable energy industries, while machinery giants like JERN YAO and CHIEN TSAI will debut energy-efficient forging and thread-rolling technologies.
International brands are increasingly drawn to Taiwan’s growing markets, with exhibitors like Germany’s Dörken Coatings and Achilles Seibert, Japan’s Fukae Spring, and Korea’s HAWERS utilizing the show to expand their global reach.
Beyond the abundant display, Fastener Taiwan features the Global Fastener Forum, where industry experts discuss industry development and analyze regional regulations and opportunities. The Procurement Policy and Market Briefing will host leaders from major European distributor associations- EFDA, BIAFD and FDS, to discuss the implications of the EU CBAM and evolving procurement standards. To offer a deeper perspective, the Site Visit program provides buyers with exclusive access to local factories to witness fastener production process firsthand, while One-on-One Sourcing Meetings offer opportunities to discuss specific enquiries.
Fastener Taiwan 2026 is more than a trade show; it is where global industry leaders gather to forge the next decade of success. We invite professionals from all sectors, especially the aerospace, semiconductor, infrastructure, medical, and construction sectors, to register for visit now (https://reurl.cc/O6XXD9) to empower your business through fastening innovation. Hashtag: #FastenerTaiwan2026
The issuer is solely responsible for the content of this announcement.
Masdar and TotalEnergies have signed a binding agreement to combine their onshore renewable energy portfolios across nine Asian markets into a 50:50 joint venture valued at $2.2 billion, marking one of the more significant cross-border clean energy tie-ups involving Gulf and European players this year. The new platform, to be headquartered in Abu Dhabi, is set to become the exclusive vehicle through which the two companies develop, […]
Arabian Post Staff -Dubai Dubai’s off-plan apartment market has continued to draw buyers despite geopolitical turbulence, with sales in March reaching AED 17.5 billion, or about $4.8 billion, and transaction volumes climbing to 7,983 deals, according to an analysis of Dubai Land Department data. The figures suggest that investor appetite in the emirate’s residential market has so far remained intact even as regional conflict has unsettled broader […]
Alibaba has launched Qwen3.6-Plus, the latest entry in its Qwen model family, positioning it as a tool built to help companies move from chat-based assistants to AI systems that can execute multi-step work across coding, reasoning and visual tasks. The release lands as the group deepens its push into agentic AI for both enterprise clients and consumer applications, with the model set to power Alibaba Cloud’s Model […]
HONG KONG SAR – Media OutReach Newswire – 2 April 2026 – ShopBack, the leading shopping and Cashback platform in Asia-Pacific, is pleased to announce that ShopBack Play is rapidly breaking the barriers between online shopping and gaming, making earning rewards effortless and fun for everyone.By seamlessly bridging mobile games with cash prizes, ShopBack has evolved from a simple shopping tool into a high-engagement “Play-to-Earn” ecosystem. To date, the platform has already given back over HK$5 million in Cashback to users through its gamified features.
As the city welcomes the festive break, ShopBack is set to catalyze this momentum with the launch of its 2026 Easter Egg Hunt. From April 3 to April 7, the campaign will welcome Gen Z and Millennial cohorts to download the official ShopBack App and discover a world of surprises — where every discovery is a chance to win, turning leisure into leverage and proving that in the modern retail landscape, entertainment is the “new currency”.
ShopBack launches the 2026 Easter Egg Hunt from April 3 to April 7, start hunting for capital—where gaming meets gaining.
The Quantifiable Rise of Gamified Earning
The shift from shopping to active “gaining” is backed by record-breaking engagement metrics within the ShopBack app: Over 1,200 curated game titles have been integrated and downloaded on ShopBack Play. Building on a track record of over HK$5 million in rewards already delivered to our community, the platform has cultivated a new class of “Super Earners.” The top-performing user has successfully extracted over HK$30,000 in Cashback rewards simply by mastering game milestones—positioning ShopBack Play as a sophisticated Cashback tool for avid gamers.
2026 Easter Egg Hunt: A Multi-Dimensional Reward Matrix
While traditional holiday campaigns focus on consumption, ShopBack’s Easter Egg Hunt focuses on Community and Catch-up. The 5-day campaign (April 3-7) introduces two flagship challenges designed to maximize player “yield”:
“Easter Egg Everyday” – The Blind Box Thrill: During dedicated daily Happy Hours, users who reach specific milestones in the app’s “Red Zone” will unlock surprise loot “Easter egg” boxes. These eggs contain instant Cashback rewards of up to HK$100, adding an element of high-stakes discovery to the daily routine.
“United to Unlock” – The Power of Solidarity: In a bold move toward social gamification, ShopBack introduces a collaborative community challenge. If collective participation reaches the 40,000 opt-in benchmark, a massive HK$20,000 prize pool will be unlocked, and every participant stands a chance to win.
A New Paradigm: Beyond the Transaction
“We are witnessing a transformation in retail, where shopping goes beyond a simple task or pastime. ShopBack Play redefines the experience as an engaging ‘treasure hunt’, enabling users to enjoy shopping while earning real rewards effortlessly,” says Mr. Arthur Wan, General Manager of East Asia Cluster at ShopBack. “With ShopBack Play, we have evolved past a simple Cashback upgrade into the next level of ‘Play-to-Earn’. This Easter, we aren’t just offering discounts; we are presenting an immersive hunt where the stakes are real, and the rewards are tangible. We are moving Hong Kong from Gaming to Gaining.”
This Easter, swap the chocolates for real rewards. Dive into ShopBack Play to earn real cash—making the holiday not just a treat, but a “treasure-filled” retreat.
Hashtag: #ShopBack
The issuer is solely responsible for the content of this announcement.
About ShopBack
Founded in 2014 in Singapore, ShopBack Group is the leading shopping, Cashback, and payments ecosystem in the Asia-Pacific, serving over 60 million users across 13 vibrant markets. Driven by a mission to make every shopping journey rewarding, the platform seamlessly integrates commerce with entertainment, pioneering the “Play-to-Earn” movement through its innovative ShopBack Play feature. Beyond consumer empowerment, ShopBack serves as a strategic growth engine for thousands of merchants and brands, providing sophisticated, performance-based marketing solutions that drive measurable outreach and high-intent engagement. With the expansion into ShopBack Pay, the Group continues to redefine the future of retail finance, offering a frictionless payment infrastructure that bridges the gap between digital rewards and real-world spending.
For further details and to start earning Cashback today, visit:
China’s central bank has pulled cash from the banking system for the first time in about a year, signalling a more cautious near-term approach to liquidity management as higher oil prices begin to feed into factory costs, transport bills and corporate margins.
The People’s Bank of China conducted a small reverse repo operation on 2 April while a far larger batch matured, producing a net daily withdrawal of 223.5 billion yuan. The move came after policymakers had spent months leaning towards support for growth, and it suggests Beijing is trying to preserve room for manoeuvre rather than rushing into broader easing while imported inflation risks build.
That calibration matters because China is facing two conflicting pressures at once. On one side, domestic demand remains weak, producer prices are still soft, and policymakers have already acknowledged that supply continues to outstrip demand in parts of the economy. On the other, the oil shock linked to the Middle East conflict is lifting input costs and complicating the case for an immediate flood of fresh liquidity. China’s central bank said after its first-quarter monetary policy committee meeting that it would maintain an “appropriately loose” stance while keeping liquidity ample and supporting a recovery in prices.
The timing of the drain is striking because it follows signs that parts of the economy had started to stabilise before energy costs became a bigger threat. Official manufacturing activity returned to expansion in March, with the PMI rising to 50.4 from 49.0 in February, while a private survey showed factory output and orders still growing even as cost pressures intensified. Those readings pointed to a modest improvement in momentum, but they also showed that the rebound is vulnerable to rising commodity prices and longer supplier delivery times.
Economists and policy advisers in China have begun to frame the challenge less as a choice between stimulus and restraint, and more as a balancing act between supporting growth and containing imported inflation. Huang Yiping, a central bank adviser, said this week that oil-led price pressure was hurting profitability and narrowing the room for policy to respond, even though broader inflation remains below the official target. China’s consumer inflation rose 1.3% in February, the highest in more than three years, but still below Beijing’s target of around 2% for 2026.
For markets, the signal is not that Beijing has turned hawkish. The seven-day reverse repo rate remained unchanged at 1.4%, and the central bank has continued to stress that it can still use rate cuts, reserve requirement reductions and other tools if needed. What has changed is the sequencing. Officials appear unwilling to react to every external shock with an immediate dose of easier money, especially when higher oil prices could push up headline inflation even as underlying demand stays fragile.
That caution is also tied to the broader policy picture. China set a 2026 growth target of 4.5% to 5%, below last year’s goal, reflecting weaker confidence in the external environment and the unfinished task of shifting growth away from debt-heavy sectors and towards household consumption. Policymakers have pledged to support demand, private investment and prices, but the tone from Beijing has been measured rather than aggressive. The central bank’s liquidity withdrawal fits that pattern: it does not amount to a policy reversal, but it does show a preference for targeted fine-tuning over blunt stimulus.
The oil backdrop helps explain why. China has entered the current energy shock in a stronger position than some of its Asian peers, with strategic stockpiles, diversified power supply and a large electric-vehicle base helping to soften the blow. That resilience has supported Chinese assets during wider market turbulence. Yet the country is not immune. Independent refiners have already been cutting processing rates as crude costs climb and domestic fuel demand stays under pressure, while manufacturers are reporting the fastest increase in output prices in years.
Britain has sharpened its language on security, raised its military ambitions and promised a larger defence budget, but the test now lies in whether those commitments produce forces that can respond quickly and credibly to a widening arc of threats from Europe to the Middle East. The question has come into sharper focus after London moved a nuclear-powered submarine into the Arabian Sea about a month into […]
Cordros Securities has projected a calmer but still constructive second quarter for Nigeria’s equities market, arguing that the sharp gains posted in the first three months of 2026 may give way to more selective buying, with bank stocks likely to remain at the centre of investor attention. That view comes after a powerful first-quarter rally on the Nigerian Exchange, where banking counters were among the strongest performers […]
Google has moved to reassure developers and users that Android will remain open even as it rolls out a new verification regime for app makers, but the effort has opened a wider argument over whether the company is strengthening security or extending its control far beyond the Play Store. The dispute sharpened after Google published fresh details in March on how users will still be able to […]
South Korea’s consumer prices rose 2.2 per cent in March from a year earlier, quickening from 2.0 per cent in both January and February as higher energy costs fed through the economy and kept inflation above the Bank of Korea’s medium-term 2 per cent target. The increase was milder than market expectations for 2.4 per cent, but it still marked the fastest annual pace since December and underscored the strain created by elevated crude prices linked to conflict-driven instability in the Middle East.
On a monthly basis, consumer prices rose 0.3 per cent in March, matching February’s pace. Petroleum products were a major driver even after Seoul introduced emergency measures to curb the blow to households and businesses. Government controls on fuel prices helped limit the pass-through, yet petroleum product prices still rose sharply from the previous month, showing how external energy shocks are overpowering domestic stabilisation efforts.
The inflation print matters because it lands at a moment when policymakers are trying to balance stronger export-led growth against mounting imported price pressures. The Bank of Korea said in its February outlook that consumer-price inflation for 2026 was expected to average 2.2 per cent, slightly above its previous 2.1 per cent forecast. That projection was made before the latest oil surge intensified, leaving economists to question whether the central bank’s assumptions have already been overtaken by events.
Core inflation, which strips out volatile food and energy items, eased slightly to 2.2 per cent in March from 2.3 per cent in February. That suggests underlying domestic demand pressures remain contained, even as headline inflation is being pushed up by imported costs. Another closely watched measure, which excludes agricultural products and petroleum, had been running at 2.5 per cent in February, indicating that sticky service-sector and household spending components have not fully disappeared.
Food prices offered some relief. Agricultural product prices fell in March as supply conditions improved, helping offset part of the jump in fuel-linked costs. That softer food picture helped explain why the overall figure came in below forecasts despite the energy shock. Still, analysts say the cushion from better farm output may prove temporary if transport, fertiliser and logistics costs keep climbing with oil.
South Korea is especially exposed because of its dependence on imported energy. About 70 per cent of its crude oil imports come from the Middle East, leaving the country vulnerable whenever shipping routes or production in the region come under threat. The government has already floated wider demand-management steps, including possible driving curbs beyond the public sector if crude prices climb further, a sign of how seriously officials are treating the supply risk.
Seoul has also moved on the fiscal side. This week the government proposed a supplementary budget of 26.2 trillion won, or about $17.3 billion, aimed at cushioning the economy from the oil shock and supporting low-income households and affected businesses. Of that, 10.1 trillion won is earmarked for measures tied to surging oil prices, including support for refiners operating under the emergency pricing system. The package highlights concern that inflation and slower consumption could combine to weaken the broader recovery.
For the central bank, the March data complicate an already delicate policy setting. The Bank of Korea’s next rate decision is due on April 10. Policymakers had held rates steady in February, and the latest inflation reading, while lower than forecast, is unlikely to offer much comfort because upside risks remain tied to oil, the exchange rate and transport costs. At the same time, softer core inflation argues against an aggressive response unless the energy shock broadens into wages and services.