Asia
Japanese restaurants in China have been struggling to stay afloat amid Beijing's total ban on seafood imports from Japan, but some have found a way to keep in business by procuring the neighboring country's marine products via Hong Kong or using Chinese-sourced ingredients for their menu items. The embargo, introduced last August in response to the release of treated radioactive water from the Fukushima Daiichi nuclear plant, has forced many Japanese restaurants in China to close their doors. The impact of the ban has been particularly severe on high-end establishments in urban areas such as B...
Kyodo News
The Organization for Economic Cooperation and Development said Thursday it has begun reviewing membership for Indonesia, the first Southeast Asian country to request to join the intergovernmental body. The OECD said in February that it had opened discussions with Indonesia for its accession to the organization, whose 38 members mostly comprise Western nations. The Japanese government has expressed support for more Asian countries joining the Paris-based body. OECD Secretary General Mathias Cormann, in a speech Thursday, said the move came as a result of Indonesia's "remarkable economic reform,...
Kyodo News
Microsoft Corp. said Thursday that it will invest $2.2 billion over the next four years on enhancing Malaysia's cloud and artificial intelligence infrastructure, and building skills. Touted as the single largest investment by the company in Malaysia, part of the investment will used for the AI training of 200,000 people and enhancing the country's cybersecurity capabilities in cooperation with the government, Microsoft said. "Our investments in digital infrastructure and skilling will help Malaysian business, communities and developers apply the latest technology to drive inclusive economic gr...
Kyodo News
China's ruling Communist Party will hold a key meeting in July to set its mid- to long-term economic policy, the country's state-run media said Tuesday, as the Asian powerhouse faces challenges, including a prolonged property sector crisis. The third plenary session of the 20th Central Committee was widely expected to be held in the fall of last year following a twice-a-decade party congress in 2022. However, it was delayed, possibly due to difficulties in coordinating policies to cope with the real estate sector problem and a personnel reshuffle. The upcoming session will "primarily study iss...
Kyodo News
The International Monetary Fund projected on Tuesday that the Asia and Pacific region will grow by 4.5 percent this year, revising upward its October forecast of 4.2 percent, mainly due to strong investment in China and India. China's economy is expected to grow 4.6 percent, up 0.4 percentage point from the previous forecast, the IMF said. It projected India's growth to be 6.8 percent, up 0.5 point. The latest growth outlook for the region was "better than previously projected," Krishna Srinivasan, Director of the IMF's Asia and Pacific Department, told reporters in Singapore, noting it was a ...
Kyodo News
China said it will resume Taiwan-bound travel for residents of Fujian Province in the country's southeast during a meeting on Sunday with the island's opposition lawmakers. Rao Quan, China's vice culture and tourism minister, made the remarks to Nationalist Party legislators when they met ahead of the May 20 inauguration of President-elect Lai Ching-te, whom Beijing views as a separatist. The vice minister said Beijing will first restart the travel of Fujian residents to Matsu, a remote group of Taiwan islands, and then allow group tours to other parts of the self-ruled territory after resumin...
Kyodo News
U.S. Secretary of State Antony Blinken and his Chinese counterpart Wang Yi began talks on Friday in Beijing, with agenda items expected to include China's alleged support for Russia's defense industry as well as tensions around Taiwan and the South China Sea. Blinken, who returned to the Asian country for the first time in 10 months, is also likely to raise U.S. concerns about Beijing's overcapacity in electric vehicles and other industries. He may meet with Chinese President Xi Jinping later in the day. His three-day China visit through Friday is part of the two countries' efforts to stabiliz...
Kyodo News
The Beijing motor show reopened on Thursday after a four-year hiatus, featuring the latest electric vehicle models from major automakers worldwide, amidst intensifying competition in the world's largest auto market for new energy vehicles. Nissan Motor Co. unveiled four new energy concept vehicles at the auto show, with President and CEO Makoto Uchida vowing the company's commitment to a "China-tailored strategy." Toyota Motor Corp. displayed two new battery EV models to be sold in the Chinese market within a year as part of its approach to achieving carbon neutrality. The automaker said its e...
Kyodo News
Strong aftershocks continued to rattle Taiwan on Tuesday after a deadly earthquake claimed the lives of 17 people in the island's eastern county of Hualien in early April, but there were no reports of casualties following the latest temblors. The aftershocks in the early hours of Tuesday registered magnitudes of 6.0 and 6.3, respectively, leaving at least two multistory buildings that had been unoccupied in Hualien partially collapsed and tilted. Another quake registering a magnitude of 5.8 occurred in the morning. Tuesday's quakes prompted the Hualien county government to announce the closure...
Kyodo News
North Korea has conducted "a power test of a super-large warhead" for a cruise missile and a test launch of its new anti-aircraft missile in the Yellow Sea, Pyongyang's state-run media reported Saturday. The country's Missile Administration said the test of a warhead for the Hwasal-1 Ra-3 strategic cruise missile and test-firing of the Pyoljji-1-2 new-type anti-aircraft missile were conducted Friday afternoon as "part of the regular activities" for the rapid development of technologies related to new-type weapon systems. The tests "had nothing to do with the surrounding situation," according t...
Kyodo News
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