alt

May 4th, 2023

HSBC's identity in crisis

China's Ping An leads shareholder revolt to split Asia operations from U.K.

View all editions

The Big Story

HSBC battles shareholder revolt as breakup vote looms

Bank’s balancing act between U.K. and China appears increasingly untenable

HSBC Holdings, known for the two regal lion statues that sit outside its Asia head office in Hong Kong, will vote May 5 on a proposal to split its Asia operations from its London headquarters. 
Morgan Stanley CEO James Gorman tells Nikkei that conditions are vastly different now than in 2008, when Lehman Brothers collapsed and triggered a global financial crisis. (Photo by Yutaka Miyaguchi)
Interview

There is no banking crisis: Morgan Stanley CEO James Gorman

Bank chief says fundamentals 'extremely healthy' despite Silicon Valley Bank collapse

The SMIC booth at the 2023 China IC Manufacturing Annual Conference in Guangzhou: China's largest contract chip producer appears to have achieved a key production breakthrough. (Photo by Shunsuke Tabeta)
Opinion

U.S. sanctions will not halt rise of China's chip industry

Beijing still holds advantages while America struggles to boost domestic output

The Yuan Wang 5, seen by India as a spy ship, is welcomed to Chinese-run Hambantota International Port in Sri Lanka on Aug. 16, 2022.
Opinion

India now has to face strategic consequence of Myanmar's isolation

Signs suggest China has leveraged influence to put spy station on remote island

China's National People's Congress passed the revisions to the counterespionage law on April 26. (Xinhua/Kyodo)
The Nikkei View

China's expanded espionage law only hastens foreign capital drain

Broader concept of national security further restricts citizens

The Philippine online gambling industry in 2022 furnished at least 47,488 jobs, nearly half to Filipinos.  (Photo by Cliff Venzon)
Business Spotlight

Philippine online casinos: Continue playing or game over?

Marcos set to weigh fate of controversial sector opposed by China

Indian venture capital firms are pinning their fundraising hopes on investors in the Middle East and Southeast Asia. (Source photos by AP and Kosaku Mimura) 
Market Spotlight

Indian venture capitalists chase Asian cash as U.S. money dries up

Finding American backers for a new fund is 'like getting admission at Harvard'

An employee packs goods at a Tokopedia warehouse in Jakarta. Southeast Asia's demand for cardboard is expected to grow by 4% a year.
Materials

China's 'paper queen' pursues growth in crowded Southeast Asia

Rising costs and Japanese incumbents pose challenge for Nine Dragons Paper expansion push

Cambodian Prime Minister Hun Sen, center, has worked assiduously to maintain his family's grip on power, grooming his eldest son, Manet, left, to succeed him.
Asia Insight

Cambodia's Hun Sen plans power succession to son, allies' children

Strongman prime minister mulling when to hand over to his eldest child, Hun Manet

Rescuers search for garment workers trapped in the rubble of the collapsed Rana Plaza building on April 24, 2013.
Politics

Bangladesh's Rana Plaza survivors suffer joblessness 10 years on

Many live in pain as advocates continue to push for greater safety, labor rights

Apple is among U.S. investors in Vietnam, set to be the first country outside China to produce MacBooks, adding to the other Apple devices it already makes there. (Photo by Lien Hoang)
Technology

Vietnam's digital ambitions spur hopes among U.S. businesses

Country needs American tech to hit internet targets, lobby says

The Singaporean government on April 26 announced tax increases on the purchase of residential property as it tries to cool a market heated up by the easing of the COVID-19 pandemic.
Property

Singapore doubles tax for foreigners' home purchases

City-state raises duty to 60% from 30% to cool hot real estate market

Nasi pecel, a traditional Javanese salad with peanut sauce. (All photos by Ian Neubauer)
Life

Unearthing curious culinary secrets of Java

Indonesia's most populous island boasts a vibrant but underrated food culture

Young people dressed in traditional Japanese attire distribute leaflets advertising a Japanese restaurant in Taipei's Ximending area. Japan's colonial legacy is still very visible in this part of the city. 
Tea Leaves

Reflections on Taiwan's 'Japan legacy'

Formers colonizers left behind a very Chinese place that still respects quietude