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April 25th, 2019

Asia300: The big write-off

The shadow of aggressive dealmaking returns to haunt China Inc.

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The Big Story

Asia300: Chinese companies face surging write-offs

After a global investment spree, impairments weigh on tech and energy companies

Corporate comedown: Chinese companies, led by the state to pursue overseas acquisitions, are beginning to feel financial pain from past spending exuberance. (Illustration by Eric Chow)
Chinese companies, both private and state-owned, continue to benefit from generous government subsidies and grants: In the case of electric vehicle maker BYD, state support in 2018 was nearly equal to the company's bottom line.
The Big Story

For some Chinese companies, generous state subsidies make up for losses

Electric vehicle makers weather tough year thanks to government largesse

Stream article image
CEO in the news

This rare earths miner is tiny: Why are so many people obsessing over it?

After five years as Lynas CEO, Amanda Lacaze has almost seen it all

Foxconn CEO Terry Gou attends a groundbreaking event for the company's plant in Wisconsin. U.S. in June 2018, with then-Governor Scott Walker. Foxconn is reviewing the products it will produce at the new American factory. 
Companies

Foxconn faces successor challenge as Gou enters Taiwan politics

A look at the key lieutenants in the running to take reins at key Apple supplier

The Philippines is struggling to spur entrepreneurship, with the president of one mobile carrier explaining, "There is a desire for many [workers] to take a secure and stable path." (Photo by Keiichiro Asahara)
Startups

Philippines chases neighbors in Southeast Asian unicorn race

Tale of two ride-hailers -- Micab and Grab -- shows wide gap in funding and risk taking

This year's MWC Barcelona event hailed the arrival of 5G. But Apple has fallen behind rivals in putting out phones for fifth-generation mobile networks.
5G networks

Apple's 5G move to spark Asian investment 'boom'

Next iPhone launch will drive spending on network infrastructure, say Huawei and others

Uber has been developing self-driving vehicles in Pittsburgh, Pennsylvania, since 2015.  
Business deals

SoftBank and Toyota plot self-driving leap with $1bn Uber deal

Spinoff of the autonomous vehicle unit comes into view with the investment

King Power's duty-free monopoly at Thailand's main gateway to be challenged by competitors (Photo by Kosaku Mimura)
Companies

Thai duty-free shops up for grabs as King Power faces 4 rivals

Hotel group Minor and Bangkok Airways among potential bidders for license deal

AirAsia Group CEO Tony Fernandes remains optimistic about cracking the Vietnamese market, but analysts say he may have to rethink his approach. (Photo by Tsuyoshi Tamehiro)
Companies

AirAsia fails again in Vietnam partnership bid

CEO Tony Fernandes says he will try again despite a third setback in 12 years

A production site for Taiwan Semiconductor Manufacturing Co., the world's largest contract chipmaker.  (Photo courtesy of TSMC)
Companies

TSMC signals bottom of chip cycle as quarterly profits tumble

Industry bellwether sees demand pick up by mid-2019 despite downtrends

A tour boat cruises on the Singapore River. The city state depends on desalination to meet part of its water needs.
Companies

Singapore gives Hyflux 30-day notice on seizure of water plant

Government intervenes after rescue deal collapses, citing security needs

Wipro, backed by billionaire Azim Premji, has been trapped in a low-growth mode over the past few years.
A 2-year-old girl living on the streets of Manila: The Philippines' ratio of children suffering from stunted growth -- 1 in 3 -- has held steady for two decades. (Photo by Jilson Tiu)
Asia Insight

Chronic malnutrition stunts Asia's rising-star economies

Over 30% of Indian, Filipino and Indonesian kids never get chance to reach potential

Sri Lankan soldiers secure St. Anthony Shrine after an attack in Colombo on Sunday. At least 290 people were killed and over 450 injured in eight blasts across the country.
Politics

Terror attacks in Sri Lanka expose new security threat

Recent intelligence reports raised alarm of some Muslims becoming radicalized

Indonesia's presidential candidate Joko Widodo greets supporters during a campaign rally at a stadium in Serang, Banten province, Indonesia, on March 24.
Indonesia election

Jokowi wins mandate to keep pushing Indonesia's economy forward

Second term to test president's appetite for structural reforms

The practice of Chinese men paying to marry young Pakistani women has continued for the past couple of years, according to sources.
Belt and Road

Chinese illegal marriage operators exploit young Pakistani women

Belt and Road hype leaves human trafficking of underprivileged unchecked

The Parliament House of Singapore
Technology

Facebook and Twitter worry over Singapore fake news laws

Tech giants fear new rules could cost millions and set global trend

China takes in about 400,000 barrels of Iranian oil a day, while India imports 300,000 barrels a day, 
International relations

Trump cancels Iran oil waivers granted to major Asia importers

China, India, Japan, South Korea and Taiwan affected, but White House promises supply

Xi Jinping will be faced with two opposite courses of action.
Opinion

Xi right to play for time in trade war with Trump

Beijing set to win breathing space as it mulls confrontation versus cooperation

Nomura may be learning from past errors. 
Opinion

Nomura is running out of time to remake itself

Japanese broker's $1bn overhaul plan fails to dispel investors' doubts

Narendra Modi's Bharatiya Janata Party has adopted a muscular nationalist plank.
Opinion

Modi's nationalist agenda put to the test at the polls

BJP and Congress both tout economic populism but divide over India's political identity

A view of the blast damage inside St. Sebastian's Church in Negombo, Sri Lanka, on April 22
The Nikkei View

A barbaric act of mass murder in Sri Lanka

The world should help the South Asian country root out terrorism

Womenswear label Hyke put on one of the best shows of the week at a waterfront warehouse on Tennozu Isle.
Life & Arts

Staying in step

Tokyo is an international fashion hot spot -- why does its fashion week lack global clout?

Convenience stores are open all the time, but is this really a good thing? (Photo by Maho Obata)
Tea Leaves

Inconvenient truths of Japan's 'combini' culture

From auto-flushing toilets to 24/7 stores, Japan's convenience mentality has downsides