North Korea Botches Missile Launch; China Adds 76 Billionaires to Rich List; China-Burma Oil to Start Flowing; Quake Rocks Bali

North Korea Botches Missile Launch; China Adds 76 Billionaires to Rich List; China-Burma Oil to Start Flowing; Quake Rocks Bali
Photo Credit: AP/達志影像

What you need to know

Asia Update: A quick roundup of the most important news from around the region.

North Korea:

South Korea believes a North Korean missile launch on Wednesday (March 22) did not go off normally, the South Korean defence ministry said, adding that it was conducting analysis for further details. - Reuters via Straits Times

China:

A Forbes ranking published on Monday shows 196 new billionaires, including 76 from the Chinese mainland and 25 more from the U.S. While the U.S. has the single largest number of billionaires at 565, China is closing in with 319. - People's Daily Online (China)

A Congressional report raises concerns over Beijing’s procurement of advanced weapons from Moscow. - The Financial Times

China, Myanmar:

Nearly a decade in the making, a project to pump oil 770 kilometers (480 miles) across Burma to southwest China is set for imminent start-up, with a supertanker nearing the port of Kyaukphyu, Arakan State, marking the opening of a new oil trading route. - Reuters via The Irrawaddy

Indonesia:

An earthquake measuring 6.4-magnitude on the Richter scale rocked Bali on Wednesday morning (22/03). No tsunami alert was issued by authorities. - Jakarta Globe

Hong Kong:

The government’s Information Services Department (ISD) has maintained its position that digital media outlets will not be allowed to access events related to the chief executive election on Sunday. - Hong Kong Free Press

Malaysia:

The United States authorities are preparing to file criminal charges against Penang-born billionaire Low Taek Jho, better known as Jho Low, for involvement in what they believe to be "one of the largest financial frauds in history." Wall Street Journal via Malaysiakini

Taiwan:

A Taiwanese NGO worker and community college manager has not been heard from for more than a day after arriving in China. - The News Lens

Taiwan is hoping to build its first homegrown submarines within eight years and commission them into service within a decade. - Taipei Times

President Tsai Ing-wen said Taiwan had no choice but to build its own submarine fleet as she promoted a deal to deploy the first vessel in less than a decade. - Bloomberg

China, Philippines:

The Philippines plans to file a strong protest against China after it announced preparatory work for an environmental monitoring station on a disputed shoal in the South China Sea, a Cabinet minister said on Tuesday. - Reuters

After saying he can't stop China from building structures in the South China Sea, President Rodrigo Duterte said the Philippines is determined to complete the framework of guidelines that will govern China and the Southeast Asian region's approach to the disputed body of water. - Rappler

South Korea:

Prosecutors questioned South Korea’s impeached president, Park Geun-hye, for 14 hours Tuesday over a corruption scandal that led to her dismissal from office this month. - The Washington Post

India:

India slipped down one place from 130 to 131 among the 188 countries ranked in terms of human development, says the 2016 Human Development Report (HDR) released by the United Nations Development Programme (UNDP) on Tuesday. - The Hindu


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