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May 12th, 2022

Macao bets on a new future

Pressure from Beijing is forcing the world's gambling hub to diversify

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The Big Story

Macao bets on a new future as China cracks down on gambling

Pressure from Beijing and pandemic travel rules are forcing the gamer's paradise to diversify

A sharp decrease in visitor numbers during the pandemic coupled with a tightening of gaming laws means Macao is having to rebrand its identity as the world's casino hub.
China's effort to reduce leverage at the big developers and curb speculative homebuying has engineered a slump in sales and a spike in corporate defaults.
Business Spotlight

Chinese property developers see hope in Politburo policy shift

Beijing changed tone on real estate, as on tech, but will it halt the sales slide?

An MH-60R helicopter is seen aboard the USS Ralph Johnson, an Arleigh Burke-class guided-missile destroyer based in Yokosuka, during a sail through the South China Sea in January.
Asia Insight

U.S. Navy gathers best destroyers in Japan to hunt Chinese submarines

Adding helicopter hangars to ships expands area of operation across Indo-Pacific

The T129 ATAK, an all-weather attack helicopter developed by Turkish Aerospace, with Philippine pilots alongside at Col. Jesus Villamor Air Base in Manila, Philippines, on April 6. (Anadolu Agency)
International relations

Turkish defense contractors enjoy sales bonanza in Asia

Demand soars for cheap but battle-tested drones, choppers and corvettes

Carew's distillery west of the capital Dhaka makes spirits distributed through sales centers in three major cities.
Business trends

Bangladesh booze makers toast new liquor laws

Teetotaling Islamic groups push back against updated rules

Masanori Ushida, CEO of Mitsubishi Heavy's aero engine unit, says jet engines will be the company's focus in the aviation field. (Photo by Mitsuru Obe) 
Aerospace & Defense Industries

Air travel rebound has Mitsubishi Heavy betting big on jet engines

Aerospace makers around the world seize on recoveries in domestic travel

Japan is seeing a hot job market for workers over 40 as companies seek experienced individuals to drive growth in the post-pandemic era.
Datawatch

Middle-aged job-hopping booms in Japan

Number of career changes among workers over 40 doubles in five years

Indian Prime Minister Narendra Modi attends a news conference in Berlin on Monday.
International relations

Sri Lanka, Nepal woes are both headache and opportunity for India

New Delhi's aid to neighbors key in countering China's 'pound of flesh' strategy

Students at a job fair for graduates at a university in Shenyang, China.
Economy

China's very crowded class of 2022 fights for fewer jobs

With a record 10.76m graduating, youth unemployment could hit 20% this summer

The logo of Shanghai Roche Pharmaceutical outside their headquarters in Shanghai: In 2020 alone, Roche donated 24 million yuan in cash, drugs and materials to Chinese government agencies working on COVID-19-related issues.
Opinion

What Chinese-style corporate philanthropy can teach multinationals

Grappling with the balance between profit and purpose

Police officers and a crime scene unit gather near a passenger van after a blast at the entrance of Karachi University's Confucius Institute on April 26: The attack crossed many red lines.
Opinion

Karachi terror attack strains Pakistan's ties with China

New government needs to listen to the concerns of Balochi separatists

A work by Afghan street artist Milad Mohammadi. Once commissioned by the U.S.-backed government and foreign embassies to paint murals, Milad says his work is "against the rules" of the new Taliban regime, making it hard for him to earn enough money to feed his children. (Courtesy of the artist)
Arts

The art of surviving under the Taliban

Lack of work hits Afghan artists more than direct repression

Military helicopters fly near the Taipei 101 building during a rehearsal ahead of National Day celebrations in Taiwan's capital in October 2021.
Tea Leaves

In China's shadow, Taiwanese keep calm and carry on

For Taipei, this is the best and worst of times