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Your Week in Asia

IMF decision on Pakistan, China PMI, Macao junket king's trial

Your weekly lineup of Asia's biggest business and political events

Inflation is forcing many households in Pakistan to cut back on meals.    © Reuters

Welcome to Your Week in Asia.

Russia will be holding the Vostok 2022 military exercise for which both China and India are sending troops. This comes against a backdrop of heightened tensions in the Indo-Pacific region and Russia's invasion of Ukraine.

On Friday, the trial of Macao's junket King Alvin Chau is expected to start in the biggest criminal case to hit the world's gambling hub in years. Chau is facing charges including fraud, money laundering and illegal gambling. What is Chau's response to the charges?

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MONDAY

IMF decides on Pakistan aid

The International Monetary Fund's executive board meets to decide whether to release $1.17 billion to Pakistan and unlock more funding that the troubled South Asian economy desperately needs. Pakistan's foreign reserves have dropped to dangerously low levels, and Islamabad is counting on the resumption of its IMF loan program to help secure other external financing.

TUESDAY

Vostok military exercises in Russia

Russia's Vostok 2022 military drills kick off, with the guest list expected to include two countries that engaged in deadly clashes only two years ago -- China and India. New Delhi has yet to publicly confirm its participation, but Beijing has said its forces will attend and has named India as another participant. The two Asian giants' standoff along their Himalayan border could add to the awkwardness of an event held as Russia presses on with its invasion of neighboring Ukraine.

Company earnings: Baidu, iQiyi, Futu

WEDNESDAY

China PMI

Following last week's interest rate cuts to shore up economic output, China's release of the Purchasing Managers Index for August will provide a critical gauge of the outlook ahead. Except for June, the PMI has contracted since March on the back of COVID lockdowns and the war in Ukraine.

G-20 environment ministers meet in Bali

A meeting of environment and climate ministers is due to be held on Indonesia's resort island of Bali. It is estimated that more than 200 delegates will meet in person to discuss the Environmental and Climate Communique.

THURSDAY

Najib's wife faces court ruling

Rosmah Mansor, the wife of former Prime Minister Najib Razak, is to receive a verdict on corruption charges related to government contracts handed out during her husband's administration. Najib last week lost his final appeal of corruption and abuse of power verdicts in cases related to 1Malaysia Development Berhad (1MDB) and was ordered by the country's apex court to begin serving his 12-year sentence.

China hosts services trade fair and World Artificial Intelligence Conference

China hosts two annual events intended to support the country's self-sufficiency strategy for innovation and the services sector. The World Artificial Intelligence Conference in Shanghai will attract industry leaders including Baidu and SenseTime. In Beijing, the China International Fair for Trade in Services is expected to feature the Belt and Road Initiative and zero-carbon goals. President Xi Jinping for the past two years has delivered remarks to CIFTIS.

FRIDAY

Macao's junket king goes on trial

Alvin Chau, the founder of Macao's junket group Suncity, is due to go on trial. He was arrested in November for allegedly running a criminal syndicate that cost the gambling hub's government around $1 billion in tax revenue between 2013 and last year. The 48-year-old billionaire could face decades in prison if convicted on a slew of charges including fraud, money laundering and illegal gambling. His arrest was seen as part of Beijing's crackdown on the gaming industry and capital outflows.

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