Flood losses hit $20 billion across South and Southeast Asia

Devastating floods across South and Southeast Asia have caused at least $20 billion in losses after three tropical cyclones coincided with the northeast monsoon to unleash rain levels unseen in decades, China Daily reports, citing Bloomberg. Thailand incurred the heaviest financial blow with damages exceeding $15 billion, followed by more than $4 billion in Indonesia, an estimated $3.2 billion in Vietnam and roughly $1.6 billion in Sri Lanka.