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February 22nd, 2018

Shrinking to survive

Japan’s bloated megabanks face an existential threat from new mobile payment companies

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The Big Story

Shrinking to survive: Japan's banks face a quiet crisis

Thousands of positions at risk as online upstarts threaten bloated megabanks

New college recruits gather for an orientation session at Sumitomo Mitsui Banking's Tokyo headquarters in 2016. (Photo by Yuichiro Takagi)
Japanese chat app operator Line is leveraging its huge popularity among young Asians to expand into financial services across the region.
Economy

Japan's online banks gain ground on their conventional counterparts

Unshackled by huge costs, digital lenders woo customers with better rates and new services

Mahindra showcased a wide range of EVs (Photo by Hiroshi Kotani)
Business

India faces a rocky road to embracing electric vehicles

Government's '100% by 2030' goal divides automakers into skeptics and believers

Interstellar Technologies unveiled a real-size mockup of a suborbital rocket on Jan. 22 that it plans to launch in the spring.
Startups in Asia

A disruptor-in-chief is driving Japan's space dream

Takafumi Horie: maverick businessman, ex-inmate, author, and now a rocket entrepreneur

The iPhone X being presented to the media in Beijing in October
Business

Apple in talks for first-ever order with a Chinese memory chipmaker

A deal with Yangtze Memory would mark a milestone in China's tech development

Lotte Chairman Shin Dong-bin, center, who was charged with bribery, arrives at the Seoul Central District Court in Seoul, South Korea, on Feb. 13.
Politics

Lotte boss's prison term tests South Korea's faith in 'chaebol'

Samsung heir is free again, but at what cost to the country's reputation?

Chinese actress Zhang Ziyi, left, and diamond jewelry designer Nirav Modi at the opening of one of his stores in Hong Kong in 2016.
Economy

India's jeweler to the stars is on the run from authorities

Alleged $1.8 billion fraud puts the Nirav Modi brand in jeopardy

Laem Chabang's new terminal was scheduled to open in 2028, but now partial operations are to start in July. (Photo by Takaki Kashiwabara)
Asia Insight

Thailand attempts do-or-die leap to a technology-driven economy

Junta courts investment to regain edge on faster-growing neighbors

A worker operates at a construction site on a building in Shenyang, Liaoning province. The northeastern province admitted it had inflated its fiscal revenue.
Economy

Provinces across China are admitting to padding figures

Coming clean often leads to more central government subsidies

The site of a Chinese-financed project to build a bridge connecting the Maldivian capital of Male with a nearby airport island (Photo by Yuji Kuronuma)
Politics

China debt puts the Maldives at risk of 'land grab,' ex-leader warns

Former president says Male government has opened the door to a takeover

An aerial view of Male, the Maldives' capital.
Politics

Beijing hits back at criticism of its Maldives policy

Foreign ministry blasts 'land grab' allegations as 'absurd'

President Joko Widodo
Economy

Local elections in Indonesia test Widodo's 2019 prospects

Campaigning begins in roughly half of the country's provinces

Masazumi Wakatabe, left, and Masayoshi Amamiya have been nominated as deputy governors of the Bank of Japan.
Economy

A BOJ insider and a reflationary professor are tapped for central bank posts

Deputy governor candidates bring different backgrounds and outlooks to the table

Patients wait to be seen by a doctor at a clinic in Singapore.
Economy

Singapore plans a tax hike to cover rise in health care costs

Government cites needs of an aging population, but critics say move is premature

Filipino workers who were repatriated from Kuwait take part in a dialogue with a Department of Labor official at Ninoy Aquino International Airport in the Philippines on February 12, 2018.
Economy

Remittances from overseas Filipinos reach another record high

Duterte responds to deaths in Kuwait with ban on more workers heading there

India and other middle-income economies may need to work much harder to develop the highly skilled workers for global competition.
Economy

Emerging Asia risks never growing rich

Trump, protectionism and technology may hold back poorer developing nations

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Politics

Minxin Pei: The US needs to be real about China's ambitions

The hope of being partners in global influence needs to be replaced with a return to realpolitik

An electronic board in Seoul shows exchange rates of various cryptocurrencies.
Articles

David S. Lee: It's still possible for South Korea to embrace bitcoin

Seoul's cryptocurrency crackdown was understandable, and shortsighted

BOJ Gov. Haruhiko Kuroda raises hand to take questions at a Diet committee on Feb. 16. (Photo by Uichiro Kasai)
The Nikkei View

Two tasks await Kuroda in his second stint as BOJ chief

Japan needs a definite end to deflation and a road map out of aggressive easing

Flowers in front of the Anglican Christ Church (Photo by Simon Roughneen)
Life

A tricky balance between tourism and heritage

The hipsters and hotel towers have arrived, but there is still charm to spare

A lone worker retouches the exterior masonry work. The Ionic columns form an imposing feature on Yangon's Strand Road. (Photo by Ken Barrett)
Articles

Restoration projects breathe new life into Myanmar's old capital

Colonial-era Law Courts building is set to reopen as a luxury hotel

Female robots welcome a guest at the reception desk of Henn na Hotel in Tokyo's Ginza district. (Photo by Ken Kobayashi)
Business

Robot staff make Japan's Henn na Hotels quirky and efficient

Labor-saving innovation keeps prices low and guests amused

Pro-democracy protesters open umbrellas in central Hong Kong in October 2014.
Tea Leaves

China's hard power and hurt feelings

No perceived slight is too small for Beijing to start throwing its weight around