University students today prefer to buy experiences such as concerts over tangible goods like cars and brand-name goods.
Datawatch

Japan university student spending nears bubble-era peak

Higher part-time job wages spur buying of experiences rather than goods

24 August 2024
Wagyu prices are slumping due mainly to feeble demand, but are still high for most consumers. (Photo by Hisashi Tsusui)
Agriculture

Wagyu beef's wholesale price falls to 4-year low as consumption slows

Exports to Asia, Europe and U.S. boom as farmers seek stable demand

24 August 2024
"It is definitely time that we begin a process, a methodical process, of bringing rates down," Harker said. (Photo by Yuta Saito)
Interview

Fed's Harker sees possible '2 to 3' rate cuts ahead this year

Philadelphia bank chief open to faster pace of easing than in June outlook based on current data

24 August 2024
Fed Chair Jerome Powell is speaking at the Jackson Lake Lodge in Wyoming's Grand Teton National Park to a gathering of global central bankers and economists.
Economy

Fed's Powell says 'time has come' for U.S. to cut interest rates

Jackson Hole remarks as close as he is likely to come to declaring victory over inflation

24 August 2024
Participants in Japan's technical intern training program for foreign workers earned 26% less than Japanese nationals. (Photo by Rie Ishii)
Japan immigration

Foreign workers in Japan face 28% wage gap: government paper

Less experience and lack of flexibility to change jobs seen weighing on pay

24 August 2024
New Gwadar International Airport, set to be Pakistan's largest air hub by size, was built with a $246 million grant from China. (Screenshot from New Gwadar International Airport's Facebook page) 
Transportation

Pakistan delays China-funded airport opening over security fears

Critics say $246m 'vanity' project risks turning into a white elephant

23 August 2024
The market is keeping close tabs on Bank of Japan Gov. Kazuo Ueda's remarks. (Photo by Uichiro Kasai)
Bank of Japan

BOJ Gov. Ueda restates stance on policy normalization after market rout

Central banker scrutinized at parliamentary hearing on market messaging

23 August 2024
A temporary end of government subsidies for electricity and gas have pushed inflation higher. (Photo by Konosuke Urata) 
Inflation

Japan's inflation accelerates for third consecutive month in July

Core CPI gains 2.7% on temporary end of electricity and gas subsidies

23 August 2024
Demand for machine tools has been strong in China and North America, but has sputtered in Europe and Japan. (Photo by Takuro Hosoda)
Business trends

Japan machine tool orders rise in July on Chinese demand

Exports buoyed by Beijing's subsidies, offsetting weak home market

23 August 2024
Oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia, in June 2023. Figures from the Middle East suggest Shanghai Petrochem now sources 10% of its crude from Russia.
Commodities

Shanghai Petrochem reveals more Russia oil buying as Li Qiang visits

Executive stresses 'price' is key; Chinese premier cements economic ties with Putin

22 August 2024
A Russian-owned oil tanker. An Indian refiner says the country's "requirement for Russian oil is going to go up as long as there are no further tightening of sanctions."
Trade

India surpasses China to become Russia's top oil buyer in July

Russian crude makes up a record 44% of India's overall imports

22 August 2024
A real estate property developed by Kaisa Group Holdings in Beijing. The company's losses continue to pile up.
China debt crunch

China developers' loss warnings exceed $8bn in past week alone

Kaisa reports more red ink; Sunac takes big blow despite Xi's 'bright prospects'

22 August 2024
Xi Jinping is determined not to be caught off guard by the policies of whoever wins the U.S. presidential election in November, Democrat Kamala Harris or Republican Donald Trump. (Nikkei montage/Source photos by Yusuke Hinata and Getty Images)
China up close

Analysis: U.S. election could dictate Xi Jinping's political schedule

Bitter lesson from 2016 Clinton-Trump race reverberates through Beijing

22 August 2024
The Fuqing Nuclear Power Plant in China's Fujian province. China has built 39 reactors over the past decade. (Fuqing Nuclear Power Plant)
Energy

China and Russia drive global nuclear power capacity to record high

With as many reactors as France, China is building more while pursuing new tech

22 August 2024
BYD cars are unloaded at a port in Germany: Chinese EVs will be subject to additional tariffs, on top of an existing 10% duty, once an anti-subsidy investigation is finalized on Oct. 30. 
Trade war

China probes dairy imports following EU's EV probe update

Tariffs on Chinese brands slightly adjusted in Europe's latest decision

21 August 2024
According to a Reuters poll, 24 out of 27 economists expected the central bank to stand pat, while the rest saw a 25 basis point rate cut.
Economy

Thai central bank stands pat to assess impact of political instability

Bank of Thailand balances growth and risk by keeping policy rate at 2.5%

21 August 2024
A container terminal at the Port of Tokyo. (Photo by Nanami Sato)
Trade

Japan's exports grew in July on semiconductors and weak yen

Overseas shipments rose 10.3%; imports also up 16.6%

21 August 2024
Profit margins at Chinese commercial banks have hovered around a record low for months.
Economy

China lending at 15-year low as central bank holds rates

Real estate slump continues to squeeze financing demand

21 August 2024
Tesla Model 3 vehicles at its factory in Shanghai, China.
Electric vehicles

EU slashes planned tariff on Tesla's China-made EVs to 9%

New reduced rate is set lower than the 20.8% it had indicated in July

20 August 2024
A Kaisa construction site in Shanghai in December 2021: Kaisa says 34% of one creditor group and 36% of another agreed to subscribe to newly issued senior notes and convertible bonds with later maturities.
China debt crunch

Distressed Chinese developer Kaisa gets breather from major creditors

Other players continue to scramble against winding-up petitions and mounting losses

20 August 2024
Indian Prime Minister Narendra Modi, left, and Chinese President Xi Jinping meet on the sidelines of the G20 summit in Osaka in 2019.
Economy

India economic report card triggers debate over China investment

Influential annual review encourages Delhi to loosen FDI rules to boost growth

20 August 2024
Myanmar consumers are struggling to access daily necessities like rice and palm oil. (Photo by Nikkei)
Myanmar Crisis

Myanmar's growing price controls deepen economic woes

Response to inflation and weakening kyat backfires as private sector pulls back

20 August 2024
Paetongtarn Shinawatra has risen to Thailand's prime ministerial post on the strength of her father Thaksin's influence, but with that influence weakening, tough challenges lie in store for the 37-year-old as she takes up her first role in government. (Photo by Shinya Sawai) 
Asia Insight

Thailand's latest Shinawatra PM walks the same economic, political tightrope

Paetongtarn takes office with growth the key issue as father Thaksin calls party shots

20 August 2024
Attendees at the latest Financial Working Group pose for a photo in Shanghai. (People's Bank of China)
Economy

U.S., China agree to work more closely in times of financial stress

The fifth Financial Working Group meeting concluded as trade tensions rise

20 August 2024
Wagons filled with iron ore enter Rio Tinto's railyard near Karratha, 1,250 kilometers northeast of Perth, Australia, on Oct. 20, 2023. Australia shipped $138 billion of iron ore in the year through June.
Commodities

Australia warns of $2bn budget hole as iron ore slumps on China woes

Concerns elevated after bleak outlook from largest steelmaker

19 August 2024