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AdvertisementIndiaThis Week in AsiaEconomicsIndia-Europe trade corridor gathers pace as Modi, Macron pledge port partnershipThe India–Middle East–Europe Economic Corridor is seen as an alternative to China’s Belt and Road Initiative
Reading Time:3 minutesWhy you can trust SCMPBiman MukherjiPublished: 5:00pm, 19 Feb 2026Updated: 5:38pm, 19 Feb 2026India and France have agreed to strengthen links between two of their largest ports and others, giving fresh momentum for a proposed commercial corridor stretching from South Asia to Europe that analysts say could rival China’s Belt and Road Initiative.The agreement between India’s Adani Ports and France’s Port of Marseille Fos marks a key step towards realising the India-Middle East-Europe Economic Corridor (IMEC).
The memorandum of understanding, signed on Wednesday, calls for the creation of an “IMEC Ports Club” to coordinate key ports along the corridor and strengthen trade connectivity between India and the European Union.AdvertisementFir..

AdvertisementEspionageWorldMiddle EastIran sentences British couple on world motorcycle tour to 10 years for spyingLindsay and Craig Foreman were arrested while travelling through the country on a round-the-world trip, according to relatives
Reading Time:2 minutesWhy you can trust SCMPAgence France-PressePublished: 4:47pm, 19 Feb 2026A British couple detained in Iran since January last year have been sentenced to 10 years in jail for espionage, their family announced on Thursday, prompting condemnation from the UK government.Lindsay and Craig Foreman, both in their fifties, were arrested while travelling through the country on an around-the-world motorcycle journey, according to relatives, and have consistently denied Tehran’s spying claims.
Their family say the sentences follow a court appearance last October which lasted just three hours and in which they were not allowed to present any defence.
Advertisement“They have consistently denied the allegations. We have seen no evidence to ..

Why Venezuela has more oil than any country on Earth Venezuela has the world’s largest proven oil reserves, officially holding about 303 billion barrels, or roughly 17 per cent of global crude, mostly in the Orinoco Belt, where the oil is unusually dense and heavy. The size of the reserves is a reflection of the geological factors that have made it possible for a large amount of organic matter to be deposited and converted into hydrocarbons over a period of millions of years. But the large size of the reserve base has not resulted in sustained high production or wide economic stability. Production has dropped significantly from the peak levels, the physical facilities have become outdated, and a large part of the crude oil needs fairly complicated processing before it can be sold on the international market. Therefore, whilst Venezuela's reserve numbers are still globally noteworthy according to the figures, the country's actual production capacity and export earnings have be..

Kuwait introduces Freelance work permit for expats / Image: file Kuwait is set to introduce a new freelance residency permit allowing expatriates to work independently without needing a traditional employer sponsor. This move aims to curb visa trading and tighten labour market regulations. The scheme, expected to roll out within the next two months, will carry an annual fee ranging between KD 750 and KD 1,000.The announcement was confirmed by Sheikh Fahad Al-Yousef Al-Sabah, First Deputy Prime Minister and Minister of Interior, who said the initiative is part of wider labour reforms.“Instead of paying visa traders, pay the government some KD 800–1,000,” Sheikh Fahad said, underscoring the government’s intent to redirect residency payments to the state and eliminate illegal intermediaries.He added that reforming the labour market requires regulating the corporate sector and addressing loopholes that enabled visa trading to spread.What is Kuwait’s freelance visa?Kuwait is planning to int..

AdvertisementChina’s private sectorBusinessChina BusinessChina’s biotech boom sends price of lab monkeys for drug tests climbingThe cost of a single monkey exceeds the average annual salary in China and approaches a pandemic-era spike amid growth in drug licensing deals
Reading Time:3 minutesWhy you can trust SCMPJulie ZhangPublished: 5:00pm, 18 Feb 2026A surge in drug research in China has driven the cost of a laboratory monkey to about 140,000 yuan (US$20,260), a sum that exceeds the country’s average annual wage.
Official government procurement records showed that prices had doubled in the last five years for such monkeys, which are widely used in the preclinical stage to check whether a drug is safe and how it is absorbed, broken down and cleared by the body.
Analysts said the soaring cost was underpinned by a flood of drug-licensing deals between Chinese biotech firms and global pharmaceutical giants, alongside a revival in pharmaceutical fundraising activities, which had pushed a..