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Fuel Prices Surge in Laos as Middle East Conflict Pushes Up Global Oil Costs

Drivers line up for fuel at a gas station in Vientiane during mid-June 2022. (Photo: Kosuke Inoue)

Fuel prices across Laos surged sharply on 6 March following turbulence in global oil markets triggered by the escalating conflict in the Middle East.

Under a new pricing announcement effective from 6 AM, retail fuel prices increased by LAK 3,150 for special gasoline, LAK 3,810 for regular gasoline, and LAK 7,380 for diesel.

The diesel adjustment is particularly significant. Fuel price changes in Laos normally fluctuate between LAK 80 and 300 per liter, making the LAK 7,380 increase one of the largest single adjustments in recent years.

Large price movements of this scale were last seen during the global energy crisis of 2022, when supply disruptions and surging oil prices triggered several major fuel hikes across the country.

Global Conflict Drives Oil Market Volatility

The latest price surge follows a dramatic escalation in the Middle East after coordinated strikes on Tehran by the United States and Israel killed Iran’s Supreme Leader Ali Khamenei.

Iran responded with missile and drone attacks across the region, raising fears of a wider conflict and threatening global energy supply routes.

Particular concern has focused on the Strait of Hormuz, a narrow waterway connecting the Persian Gulf to the open ocean. The strait carries roughly one-fifth of the world’s daily oil shipments, making it one of the most critical chokepoints in global energy trade.

Any disruption to tanker traffic through the strait can quickly push global oil prices higher. Since the escalation, crude prices have climbed to around USD 75–85 per barrel, increasing pressure on fuel-importing countries across Asia.

Domestic Impact Already Visible

The price increase is expected to further affect transportation costs, logistics, and consumer prices across Laos, where diesel plays a key role in agriculture, freight transport, and electricity generation.

Earlier this week, long queues formed at several gas stations in Vientiane as drivers rushed to fill up amid fears of supply disruptions.

Authorities have repeatedly stated that fuel supply remains stable, while urging residents and businesses to use fuel responsibly and avoid panic buying.

The Ministry of Industry and Commerce has also ordered fuel importers and distributors to submit daily reports on import volumes and supply plans, while warning operators against hoarding fuel or manipulating the market.

Heavy Dependence on Thai Fuel

Laos remains highly dependent on imported fuel, particularly from Thailand.

According to data from the Department of Foreign Trade, Thailand supplied 97.10 percent of Laos’ fuel imports, worth USD 1.22 billion out of a total USD 1.26 billion in fuel imports last year.

Other suppliers account for only a small share of the market. Vietnam supplied USD 15.9 million (1.26 percent), Singapore USD 15.6 million (1.24 percent), and China USD 4.09 million (0.32 percent). Imports from South Korea, Japan, the United States, and other countries together accounted for less than 0.1 percent.

The figures highlight how closely Laos’ domestic fuel prices are tied to both global oil markets and supply conditions in Thailand.

Körber Supply Chain Announces Customer Partnership with HH Stainless Pte Ltd

SINGAPORE, March 6, 2026 /PRNewswire/ — Körber Supply Chain is pleased to announce a new customer partnership with HH Stainless Pte Ltd, a leading importer, exporter, and stockist of stainless-steel materials in Singapore and Southeast Asia. This project strengthens Körber’s regional presence and reflects its continued commitment to delivering advanced warehouse automation solutions customized to industrial customers. Founded in 1964, HH Stainless supplies stainless-steel pipes, fittings, flanges, bars, and plates, with an inventory exceeding 12,000 tonnes and a range of value-added services.

Körber Supply Chain Announces Customer Partnership with HH Stainless Pte Ltd
Körber Supply Chain Announces Customer Partnership with HH Stainless Pte Ltd

Körber’s ASRS solution allows HH Stainless to significantly reduce and save on labour costs by minimizing handling and walking distances, while increasing picking efficiency. Furthermore, the vertical storage design maximises space utilisation through a compact honeycomb structure, reducing space needs and enabling higher storage density in HH Stainless facility.

The project involves the design and implementation of an Automated Storage and Retrieval System (ASRS) for long-length stainless steel pipes at HH Stainless’s facility located in Singapore. Körber’s solution features a stacker crane with a single load handling device, specifically engineered to manage cassettes storing long products and pipe products.

In addition, the integrated warehouse management and Körber’s K.OneX warehouse control software will provide real-time visibility of inventory and system status, optimise storage and retrieval sequences, and enhance inventory accuracy and traceability. Dedicated local after-sales and technical support from Körber’s Singapore-based team will ensure ongoing maintenance and long-term reliability of the system.

“This partnership reflects our strong local presence and ability to deliver tailored automation solutions,” said Louis Kok, Head of Marketing and Sales for Körber’s Business Area Supply Chain in Singapore. “We appreciate the confidence HH Stainless has placed in us and look forward to supporting their operations with a scalable, future-ready solution.”

Mr. Terence Low, General Manager-Purchasing, from HH Stainless commented: “We believe Körber’s automation expertise and strong local support will provide a strong foundation for this partnership as we support our growth and operational goals.”

The Business Area Supply Chain is part of the global technology group Körber. Find out more on www.koerber-supplychain.com.

To learn more about HH Stainless, please visit: https://www.honghock.com.sg/hhstainless/.

For media inquiries, please contact:

Louis Kok
Head of Marketing & Sales 
Koerber Supply Chain SG Pte Ltd 
+65 6841 7073 
info.sc.sgp@koerber-supplychain.com 

Money20/20 Asia Report: APAC Fintech Ecosystem Shifts from Experimentation to Scale as AI and Digital Assets Drive Regional Leadership


BANGKOK, THAILAND – Media OutReach Newswire – 6 March 2026 – Money20/20, the world’s leading fintech show and the place where money does business, unveiled its annual Future of Fintech in APAC report ahead of Money20/20 Asia in Bangkok on April 21-23 at the Queen Sirikit National Convention Center. The whitepaper reveals APAC’s fintech ecosystem has reached a pivotal inflection point, shifting from experimentation to production-grade innovation across AI, digital payments, and assets.

Source: Money20/20
Source: Money20/20

Based on insights from over 130 senior fintech leaders, the report highlights an industry moving beyond pilot programs toward enterprise-scale solutions that prioritize collaboration, digital trust, and financial inclusion as core business imperatives for 2026.

Key Findings

  • 22.9% of respondents identify the region as their primary growth target, underscoring its continued dominance as the region’s growth engine.
  • 90.6% of executives say social good initiatives are now embedded in corporate strategy — confirming impact has become a commercial imperative.
  • 61.2% of organizations have already adopted AI or machine learning.
  • New frameworks in Singapore, Hong Kong, and Japan are driving institutional adoption of stablecoins and tokenized assets.
  • 63.5% of leaders cite fraud prevention as their highest operational priority.

“APAC is no longer experimenting — it’s executing,” said Ian Fong, VP of Content at Money20/20 Asia. “The region is building financial infrastructure that is faster, safer, and more inclusive than ever before. What happens here will influence the future of money globally.”

Digital Trust Becomes the New Currency

With digital adoption accelerating, 63.5% of leaders identify fraud prevention as their top priority. Regulators and industry players are now pivoting toward real-time risk intelligence and AI-driven security.

“The speed of digital adoption in APAC has outpaced traditional fraud models,” said Justin Lie, Founder & CEO of SHIELD. “What we’re seeing now is a shift toward real-time, device-level intelligence that operates silently in the background. Trust is the new currency of digital finance, and the companies that embed it in every interaction while delivering a frictionless experience will define the future of the industry.”

Stablecoins Move into Mainstream Financial Infrastructure

Institutional engagement with stablecoins and tokenized financial instruments has grown significantly, supported by clearer regulatory frameworks emerging across Singapore, Hong Kong, and Japan.

“Across Asia, stablecoins are already embedded in real economic activity from payments and cross-border settlements to treasury optimization,” said Yam Ki Chan, Vice President, Asia Pacific at Circle. “The region is demonstrating how digital assets can scale within financial systems, and the next phase is about interoperability and the development of an economic operating system for the internet”.

Digital Lending Expands Financial Access

The report highlights 72.9% of respondents believe SME-tailored fintech solutions are key to APAC’s economic growth, signaling a widening opportunity for inclusive financial innovation.

“Financial inclusion isn’t achieved by simply putting products online — it requires building for the realities of everyday consumers,” said Moritz Gastl, General Manager of Tala Philippines. “In markets like the Philippines, trust, transparency, and flexibility matter just as much as credit scoring. Digital lending works when it empowers people, not when it replicates old systems with new interfaces.”

Looking Ahead: Collaboration Will Define the Next Decade

As AI scales, payment rails interconnect, and digital assets enter regulated markets, APAC is emerging as a global blueprint for future financial systems.
“The next wave of fintech innovation will be defined by how well we balance technological advancement with social impact,” added Fong. “APAC markets are proving that financial innovation and inclusion can advance together.”

The Future of Fintech in APAC report can be downloaded HERE.
Hashtag: #Money20/20

The issuer is solely responsible for the content of this announcement.

Whale Cloud Receives Excellence in Partnership Award from DITO Telecommunity at MWC Barcelona

BARCELONA, Spain, March 6, 2026 /PRNewswire/ — Whale Cloud, a global leader in building intelligent productivity, today announced that it has received the Excellence in Partnership Award from DITO Telecommunity, a leading telecommunications company in the Philippines. The award recognizes Whale Cloud’s long-standing commitment and contributions to supporting DITO’s digital transformation and rapid growth in the Philippine market.

Left to right: Ben Zhou, CEO of Whale Cloud; Eric Alberto, CEO of DITO Telecommunity, hold the “Excellence in Partnership Award” presented to Whale Cloud by DITO Telecommunity during MWC Barcelona 2026.
Left to right: Ben Zhou, CEO of Whale Cloud; Eric Alberto, CEO of DITO Telecommunity, hold the “Excellence in Partnership Award” presented to Whale Cloud by DITO Telecommunity during MWC Barcelona 2026.

Since the early stages of DITO’s establishment, Whale Cloud has served as a strategic technology partner, providing key digital capabilities including Digital Business Support Systems (BSS), Operations Support Systems (OSS), big data platforms, and AI-enabled solutions. These technologies have helped DITO build a scalable digital foundation, enhance operational efficiency, and continuously improve digital services and customer experience for its growing subscriber base. Notably, the DITO App developed by Whale Cloud has become a major digital touchpoint for subscribers. Its strong digital experience has also received industry recognition, with DITO winning Mobile App of the Year – Philippines at the Asian Telecom Awards.

With more than two decades of experience in the telecommunications industry, Whale Cloud continues to advance innovation through AI-driven telecom solutions. Its AI-enabled BSS/OSS capabilities have been recognized by leading global industry organizations, including the Business Gamechanger Award from TM Forum, the Magic Quadrant for AI in CSP Customer and Business Operations by Gartner, the Asia-Pacific Technology Innovation Leadership Award by Frost & Sullivan, and the AI Gamechanger Performance Award from Fast Mode.

Visitors at the Whale Cloud booth during MWC Barcelona 2026 in Barcelona.
Visitors at the Whale Cloud booth during MWC Barcelona 2026 in Barcelona.

At MWC Barcelona 2026, Whale Cloud also highlighted its enterprise-centric, cloud-native architecture and AI-native digital platforms that help telecom operators enhance delivery efficiency, strengthen business agility, and boost productivity while accelerating their evolution from telcos to techcos.

“Receiving this award from DITO is a strong recognition of the partnership we have built over the years,” said Ben Zhou, CEO of Whale Cloud. “We will continue to work closely with DITO to drive AI-enabled innovation and deliver advanced digital capabilities that support sustainable growth.”

Eric Alberto, CEO of DITO Telecommunity added, “Whale Cloud has been a trusted partner since the early stages of DITO’s development. Their expertise in telecom digital platforms and innovation has played a key role in supporting our rapid growth, and we look forward to further strengthening this collaboration in the future.”

Ceretone Launches in Australia with Flagship Core One Pro, Revolutionizing Access to Premium Hearing Solutions

MELBOURNE, Australia, March 6, 2026 /PRNewswire/ — Ceretone, an innovative hearing technology brand, today announces its official entry into the Australian market. The company’s comprehensive product line will launch on Chemist Warehouse’s online platform in late February 2026, bringing affordable, high-performance hearing solutions to Australian consumers.

Hearing aids ready for use in Australia at Chemist Warehouse
Hearing aids ready for use in Australia at Chemist Warehouse

Flagship Products Lead the Way

Ceretone’s Australian launch features two flagship models: Core One Pro and Beacon. Core One Pro stands out as one of the smallest rechargeable hearing aids available on the market, offering feather-light comfort and a remarkably discreet design. This virtually invisible profile empowers users to address their hearing needs confidently, without the social stigma often associated with traditional hearing aids.

Beacon delivers advanced features and exceptional performance for consumers seeking premium hearing assistance, representing the pinnacle of Ceretone’s technological capabilities with sophisticated sound processing for complex listening environments.

The launch also includes additional models—Nexus, Fusion, Solid, and Torch—providing comprehensive solutions tailored to diverse hearing needs and lifestyle requirements.

Ceretone Products
Ceretone Products

Breaking the Price Barrier

Traditional prescription hearing aids in Australia routinely cost upwards of $6,000 AUD, creating a significant barrier for many who need them. Ceretone is changing this dramatically. As ready-to-use devices, Ceretone products require no doctor’s prescription, eliminating both the cost and complexity of medical appointments.

More importantly, Ceretone offers premium hearing solutions at a fraction of traditional costs without compromising on sound quality or performance. Each device features advanced noise reduction technology and intuitive controls that make adjustment simple for users of all ages.

Mission-Driven Accessibility

Ceretone’s mission is clear: make hearing aids accessible to everyone who needs them. The company believes clear hearing is a fundamental right, not a luxury. While maintaining uncompromising quality standards, Ceretone continuously enhances value through technological innovation and efficient operations, proving that exceptional quality and affordability can coexist.

Convenient Access and Expansion

Ceretone has partnered with Chemist Warehouse, Australia’s leading pharmacy retailer, to launch its products online. The company is actively expanding to additional e-commerce platforms and offline pharmacy channels, ensuring convenient access for all Australians regardless of location or shopping preference.

Quality and Support

All Ceretone products comply with Australia’s Therapeutic Goods Administration (TGA) requirements, meeting strict medical device standards for quality and safety. The company has partnered with PICA, an established Australian distributor, to provide local support. For product inquiries or assistance, customers can contact PICA at ceretone@pica.com.au 

Ceretone’s Australian launch marks the beginning of a new era in hearing care, where quality solutions are within reach for everyone who needs them.

About Ceretone

Ceretone is a global hearing technology brand dedicated to making quality hearing care accessible through advanced digital solutions, user-centered design, and mission-driven affordability.

Media Inquiries
PR Manager
Ingrid.liu@ceretone.com

Consumer Inquiries
PICA Australia
ceretone@pica.com.au 

HD Hyundai Chairman Chung Kisun Takes Lead in Bridging Korea and the Philippines

▶ Participates in economic delegation and explores ways to expand bilateral cooperation at the Korea–Philippines Business Forum
▶ Pays tribute at Korean War Memorial… Inspects HD Hyundai Philippines Shipyard and encourages local employees
▶ HD Hyundai Heavy Industries contributes to Philippine naval modernization with orders for 12 naval vessels and establishment of a logistics support center

SEOUL, South Korea, March 6, 2026 /PRNewswire/ — HD Hyundai Chairman Chung Kisun has stepped forward to play a bridging role in strengthening ties between Korea and the Philippines.

HD Hyundai Chairman Chung Kisun lays flowers at the Korean War Memorial located at the National Heroes’ Cemetery in the Philippines on March 4.
HD Hyundai Chairman Chung Kisun lays flowers at the Korean War Memorial located at the National Heroes’ Cemetery in the Philippines on March 4.

HD Hyundai announced on March 5 that Chairman Chung, who is currently visiting the Philippines as part of the Korean government’s economic delegation, paid tribute at a Korean War memorial, attended the Korea–Philippines Business Forum, and inspected HD Hyundai Philippines Shipyard (HD Hyundai Philippines).

On March 4, Chairman Chung first visited the Korean War Memorial located at the Libingan ng mga Bayani (National Heroes’ Cemetery) in Manila and laid flowers in tribute. During the Korean War, the Philippines was the first Asian country to organize and deploy a combat unit, sending the largest contingent of troops among Asian nations—7,420 personnel.

Earlier that morning, he attended the Korea–Philippines Business Forum, jointly hosted by the Federation of Korean Industries (FKI) and the Philippine Chamber of Commerce and Industry (PCCI), where participants discussed concrete measures to expand economic cooperation between the two countries.

On March 5, Chairman Chung visited HD Hyundai Philippines in Subic Bay, where he toured the construction site of a new employee dormitory and the shipyard, while encouraging employees working at the site.

“We will take even greater care to ensure quality housing, health care, and safety for workers. Above all, I ask that you always place safety first and do your best in your respective roles,” said Chairman Chung during a luncheon with local employees.

Meanwhile, HD Korea Shipbuilding & Offshore Engineering—the intermediate holding company for HD Hyundai’s shipbuilding businesses—signed a lease agreement in May 2024 with Cerberus Capital Management for part of a shipyard site in the Philippines, leading to the establishment of HD Hyundai Philippines.

In September last year, with Philippine President Ferdinand Marcos Jr. in attendance, HD Hyundai Philippines held a steel-cutting ceremony for the construction of its first vessel—an 115,000-ton petrochemical product carrier.

Since 2016, HD Hyundai Heavy Industries has secured orders for a total of 12 naval vessels from the Philippines, playing a leading role in the modernization of the Philippine Navy. In addition, the company established a logistics support center in the country in 2022 and has been carrying out maintenance, repair, and overhaul services for naval vessels, including previously delivered frigates and corvettes.

“HD Hyundai has gone beyond a simple business partnership with the Philippines to serve as a key bridge promoting friendship between the Republic of Korea and the Philippines. We will continue to build deep trust with the Philippines with pride in representing Korea,” said Chairman Chung.

HD Hyundai Chairman Chung Kisun lays flowers at the Korean War Memorial located at the National Heroes’ Cemetery in the Philippines on March 4.
HD Hyundai Chairman Chung Kisun lays flowers at the Korean War Memorial located at the National Heroes’ Cemetery in the Philippines on March 4.

Xiamen C&D Inc.’s New Five-Year Strategic Plan Released, Aiming to Accelerate Globalization

XIAMEN, China, March 5, 2026 /PRNewswire/ — In January 2026, Xiamen C&D Inc. (stock code: 600153.SH) officially released its 2026–2030 strategic plan for its supply chain operations. Over the next five years, the company will focus on three strategic goals: improving economic efficiency, strengthening market position, and expanding overseas scale. It will also enhance five core competencies: specialization, internationalization, digitalization, foresight, and resource capabilities. Through these efforts, Xiamen C&D Inc. aims to shift from a scale-driven model toward a dual-engine growth model powered by efficiency and innovation.

According to the plan, Xiamen C&D Inc. will focus its efforts on the following five areas.:

(1) Stick to specialized operations and promote differentiated management;

(2) Accelerate its international footprint while deepening localized operations;

(3) Strengthen digital and intelligent capabilities to empower the supply chain ecosystem;

(4) Enhance endogenous foresight and optimize overall resource capabilities;

(5) Reinforce innovation-driven development and cultivate a second growth curve to inject new momentum for the company’s long-term growth.

Over the next five years, Xiamen C&D Inc. will consolidate its operations through specialization, expand growth potential  through internationalization, improve efficiency through digitalization, address cyclical challenges with internal foresight, and reinforce competitiveness through resource capabilities. By doing so, the company will strive to move from “domestically excellent” to “internationally leading” and achieve high-quality development.

LiuGong at CONEXPO 2026 | Electric and Integrated Solutions

LAS VEGAS, March 6, 2026 /PRNewswire/ — LiuGong (000528.SZ) presented 13 machines across multiple product lines at CONEXPO-CON/AGG 2026 under the theme “Tough Customers. Tough Equipment,” covering applications from urban construction to quarrying, mining, and large-scale infrastructure projects.

Group Photo at LiuGong Booth, CONEXPO 2026
Group Photo at LiuGong Booth, CONEXPO 2026

Electric Solutions for Lower Operating Costs

Among the featured machines were the zero-emission 922FE excavator, 870HE & 820TE wheel loaders, representing LiuGong’s expanding electric portfolio in the American market. These machines offer more than 40% lower operating costs through reduced wear parts, fluids and filters, and simplified maintenance. Their quiet operation and instant torque make them suitable for urban construction, demolition, and emissions-sensitive public sector projects.

LiuGong electric equipment now operates in over 60 countries, with cumulative sales exceeding 60,000 units.

Diesel Equipment for High-Production Applications

For heavy-duty applications, LiuGong showcased the 952F excavator and 856T wheel loader powered by Cummins Tier 4 Final / Stage V engines. Designed for quarrying, mining, and large-scale infrastructure projects, these machines emphasize durability and continuous operation in demanding and remote environments.

Precision Equipment That Protects Project Margins

LiuGong also presented specialty equipment such as the 4215D motor grader and 6608F roller, highlighting its capabilities in precision grading and compaction. Advanced grading accuracy and integrated compaction technologies help reduce rework associated with material removal, pavement replacement, and crew remobilization, enabling customers to maintain schedules and control operating costs.

Unified Equipment Ecosystem

The addition of the TD16N Dozer completes LiuGong’s product coverage across major earthmoving categories. Standardized telematics and diagnostic systems enable consistent monitoring and service support across multiple machine types, simplifying fleet management and aftersales operations.

Customer Engagement

In addition to the equipment display, LiuGong hosted its onsite podcast series “Tough Customer Talk” at Booth F18033, featuring customers and dealers sharing real-world experiences and insights into LiuGong machines’ performance, reliability, and their business impact.

“Tough customers don’t have time for complexity,” said Andrew Ryan, President of LiuGong North America. “They need one partner they can rely on for the entire job—from the first dig to the final grade. Our goal is to deliver durable, efficient equipment supported through a unified service network.”

Creating Value Through Cooperation

Four days prior to CONEXPO-CON/AGG, LiuGong North America held a two-day dealer conference, bringing together local dealers to discuss industry trends and future development strategies. Dealer representatives were also invited to share their market practices and success stories. The in-depth exchanges further strengthened partnerships and laid a solid foundation for continued market expansion.

On Mar.4, LiuGong and Cummins marked 30 years of global cooperation. To date, more than 300,000 LiuGong machines worldwide have been equipped with Cummins engines, while Guangxi Cummins has produced over 300,000 engines since its establishment, reflecting the strength of the long-standing partnership.

Commitment to the American Market

On March 2, LiuGong held a press conference attended by nearly 50 prominent industry and mainstream media outlets. Luo Guobing, President of LiuGong; Li Dongchun, Vice President of LiuGong; and Andrew Ryan, President of LiuGong North America, announced the company’s latest strategy and field questions from the press regarding industry trends and future development plans. Through its expanded portfolio and customer-focused engagement, LiuGong reaffirmed its long-term commitment to the local market. The company will continue to broaden its offerings to meet evolving jobsite requirements, delivering reliable and comprehensive solutions for a wide range of applications.