Oct 13, 2026
5 mins read
In today's Bilig Daily Brief, a Chinese memory-chip advance set off a sell-off in Asian technology shares, sending South Korea's main index down 5.5%. Yemen's Houthis targeted Riyadh's airport for a third day as oil settled above $106 a barrel, and the International Monetary Fund raised its global growth forecast. Britain blamed Iran's Revolutionary Guards for a plot against an air base used by US bombers.
Chinese memory advance triggers Asian chip rout
South Korea's KOSPI index closed 5.5% lower at 6,035.35 on Tuesday after briefly dropping below 6,000, the Associated Press (AP) reported. SK Hynix plunged 10.1% and Samsung Electronics 7.4%. The sell-off followed reports that China's ChangXin Memory Technologies (CXMT) had made progress on a next-generation DRAM design that could raise memory density. Foreign investors sold a net 4.53 trillion won of Korean shares, SBS reported. Japan's Nikkei 225 fell 1.8%. Micron fell 3.9% in New York on Monday.
Houthis target Riyadh airport for third day
Yemen's Houthis said they fired at King Khalid International Airport in Riyadh again on Monday night, and the Saudi-led coalition said it intercepted a ballistic missile aimed at the capital, Al Jazeera reported. Two more missiles fired towards Khamis Mushait were destroyed, it said. Authorities said the airport would stay closed until Saturday. Houthi spokesman Yahya Saree warned airlines against flying to Saudi airports other than those in Mecca and Medina. US President Donald Trump said the Houthis were "misbehaving very badly".
Iran reviews US reply as tanker attacks mount
Iran's Foreign Ministry spokesman Esmaeil Baghaei said on Monday that Tehran was reviewing Washington's response to its proposal on reopening the Strait of Hormuz and would reply through mediators. The Revolutionary Guards said they had struck a supertanker transiting with its transponders off, The National reported. The claim could not be independently verified. Reports from the United Kingdom Maritime Trade Operations (UKMTO) centre showed six vessels were struck on Sunday, five in the strait and one off Oman.
Oil climbs as Saudi Arabia plans Hormuz bypass
Brent crude settled up 1.8% at $106.65 a barrel on Monday and US West Texas Intermediate rose 2.1% to $93.74, Rigzone reported, on Gulf supply fears. Brent eased 1.3% to $105.25 in Asian trade on Tuesday, AP said. Saudi Energy Minister Prince Abdulaziz bin Salman told the World Petroleum Congress the kingdom aims to raise pipeline crude export capacity to as much as 10 million barrels per day (bpd). Converting a gas pipeline could add 1.2 million bpd within seven to eight weeks, he said.
Zelenskiy says Russia ignoring energy ceasefire
Ukrainian President Volodymyr Zelenskiy said on Monday there was "no indication that Russia is complying" with the energy ceasefire announced by Trump, CBS News reported. Russia had hit six more energy facilities by Monday afternoon, CBS said. Kremlin spokesman Dmitry Peskov said contacts on the ceasefire were continuing but declined to say whether it covered only oil refineries. He rejected Zelenskiy's call for a 60-day truce to allow elections, saying Moscow wanted "long-term peace". Trump said there had been "violations on both sides".
IMF raises global growth forecast to 3.1%
The International Monetary Fund (IMF) raised its forecast for world growth this year to 3.1% from 3.0% in July, saying the artificial intelligence (AI) boom was offsetting higher energy prices linked to the Iran war. In its World Economic Outlook, released on Tuesday, the IMF forecast US growth of 2.3% in both 2026 and 2027 and global inflation of 4.7% this year. "The outlook is highly uneven," IMF research director Silvana Tenreyro said. The fund said 32 countries now account for 95% of global growth.
UK says Iran's Guards likely behind airbase plot
British Prime Minister Andy Burnham told Parliament on Monday that a suspected plot against RAF Fairford, used by US bombers, was "highly likely" coordinated in Iran and "almost certainly" directed by the Islamic Revolutionary Guard Corps (IRGC). Britain sanctioned two Iranian nationals and summoned Iran's ambassador, Gulf News reported. Britain, the United States and 27 other countries issued a joint statement condemning Iranian covert activity. Iran's Foreign Ministry called the allegations unfounded. Seven men arrested in the case have been released on bail without charge.
Hackers heat fridges in hundreds of French supermarkets
Hackers remotely raised refrigerator and freezer temperatures to as high as 50C (122F) in hundreds of French supermarkets from Sunday night, causing fires and food losses, retailers said on Monday. Intermarché and its Netto brand said at least 300 shops were targeted and Carrefour reported 80, Al Jazeera reported. Intermarché Chief Executive Thierry Cotillard estimated losses at "tens of millions of euros". French Prime Minister Sébastien Lecornu ordered the national cybersecurity agency to investigate. Danish supplier Danfoss said affected systems ran outdated firmware.
Fed's Hammack says US rates must rise
Cleveland Federal Reserve Bank President Beth Hammack said on Monday that US interest rates "need to be higher" because inflation pressures had broadened. Inflation was "too high" and the Fed had missed its 2% target for five and a half years, she said. Her remarks came before September consumer price index (CPI) data due on Wednesday and the Fed's 27-28 October policy meeting. The 10-year Treasury yield stood near 5.24%.
Hall and Woodford win Nobel economics prize
Robert Hall of Stanford University and Michael Woodford of Columbia University won the 2026 Nobel prize in economics on Monday for macroeconomic models that help policymakers stabilise economies after shocks. Their work provides "a stable theoretical foundation for the models that are now used by central banks and governments around the world," said John Hassler, chair of the prize committee. Their models rest on microeconomic foundations, the academy said. "It's a tremendous honor," Woodford told Axios.
Storms kill five people in Mexico
Hurricane Simon and Tropical Storm Rachel killed five people in Mexico, authorities said on Monday, Agence France-Presse reported. A 71-year-old man died when a wall collapsed in Chilpancingo, Guerrero state, and four members of one family were found dead near Ensenada, Baja California. Five people were missing. Simon weakened to Category 2 without making landfall, but the US National Hurricane Center expects it to near the west-central coast by Wednesday or Thursday. Officials said it could hit Mazatlán as a Category 1 hurricane.
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