Welcome to Your Week in Asia.
 
India on Tuesday will announce its full budget for the current fiscal year ending March 2025. Analysts expect the government to focus on the rural economy, welfare spending and the labor-intensive sectors, stressing job creation and infrastructure investment.
 
ASEAN Foreign ministers will meet this week in Laos to discuss a range of regional issues.
 
On Thursday, South Korea's SK Hynix, the world's second-largest memory chip maker, and others are scheduled to announce earnings.
 
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MONDAY
 
Taiwan holds five days of military drills
 
Taiwan kicks off annual military drills, the first under the new administration of President Lai Ching-te. His defense minister, Wellington Koo, has emphasized making the exercises more practical and less performative, amid growing concern over Chinese pressure and the threat of an invasion. The exercise will run for five days through Friday.
 
Marcos' third State of the Nation address
 
Philippine President Ferdinand Marcos Jr. delivers his third national address before lawmakers. Marcos is expected to touch on the country's foreign policy as tensions with China continue to simmer.
 
China's Monetary Policy Committee holds meetings
 
China's central bank delivers a rate decision, a week after the country's second quarter gross domestic product growth came in at a disappointing 4.7% on the year. The bank will set its one-year and five-year prime lending rates. Forecasts have suggested a cut is possible.
 
TUESDAY
 
India announces new budget
 
India's Finance Minister Nirmala Sitharaman will present the first full annual budget of Prime Minister Narendra Modi's new government, which took charge in June. The budget is likely to focus on welfare programs for the poor and improving the country's infrastructure. An interim budget for the current fiscal year, which began in April, was announced in February, enabling the government to maintain obligatory spending until the new government took over.
 
Earnings: Nidec
 
Monetary policy: Turkey
 
WEDNESDAY
 
Monetary policy: Sri Lanka
 
THURSDAY
 
ASEAN foreign ministers meet in Laos
 
Talks among Southeast Asia's top diplomats will be held in Vientiane, with ASEAN foreign ministers assembling to discuss regional issues, including tensions in the South China Sea, the conflict in Myanmar and U.S.-China competition.
 
Earnings: SK Hynix, LG Electronics, Renesas Electronics, Canon
 
FRIDAY
 
Vietnam holds state funeral for late party chief Trong
 
Vietnam will hold a state funeral for late Communist Party chief Nguyen Phu Trong, who died at age of 80 on July 19. The government declared July 25 and July 26 as days of national mourning. During the mourning period, there will be no public entertainment and flags will be placed at half-staff at offices and other public places.
 
2024 Summer Olympics open in Paris
 
The 2024 Paris Olympics open on July 26 with an elaborate ceremony on the River Seine. The City of Light will be showcased during the games, with several venues located in iconic Parisian spots. The beach volleyball event, for example, will be held at the foot of the Eiffel Tower, and equestrian events at the Palace of Versailles. Break dancing makes its debut at the Games in 2024, and events first seen at the Tokyo Olympics will continue, including skateboarding, sport climbing and surfing. The latter will take place in Teahupo'o, Tahiti, in French Polynesia. The Olympics will close on Aug. 11 while the Paralympics will be held from Aug. 29 to Sept. 8.
 
WEEKEND
 
Iran's new president takes office
 
Masoud Pezeshkian, a reformist candidate who won the country's runoff presidential election earlier this month, takes office on July 28, when the Supreme Leader Ayatollah Ali Khamenei gives his official endorsement. Mohammad Mokhber has served as interim president since former President Ebrahim Raisi was killed in a helicopter crash in late May. Pezeshkian's inauguration will be held July 30.