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March 21st, 2024

Southeast Asia's startup winter

From Grab to GoTo, tech newcomers fight to survive as SoftBank's Vision Fund goes cold

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The Big Story

From Grab to GoTo, Southeast Asia's startups weather funding winter

Tied to the fortunes of SoftBank's Vision Fund, tech sector must now sink or swim

Startups in Southeast Asia are struggling to navigate a post-pandemic lull in tech investment, after recieving huge injections of funding from SoftBank Group's now ailing Vision Fund. 
Following a powerful earthquake that hit central Japan's Noto region on Jan. 1, roughly 80% of people began to evacuate before a major tsunami warning was issued, according to a Nikkei analysis of smartphone location data.
Datawatch

Fast evacuation saved many lives as New Year's tsunami struck Japan

Noto Peninsula residents remembered lessons from 2011 disaster

Doctors in Seoul protest government plans to increase medical school admissions on Mar. 3: Strikers have forced the cancelation or postponement of surgeries for hundreds of people.
Opinion

South Korea's economic future at stake in doctors' strike

Yoon is curbing rowdy unions while seeking to increase labor market flexibility

Chinese Premier Li Qiang at the National People's Congress in Beijing on Mar. 5: Hopes for an announcement of a major stimulus package went unrealized.
Opinion

China is not giving anyone solid grounds for economic optimism

Steps taken so far focus on supply side, further aggravating demand shortfall

U.S. Steel's Edgar Thomson Works steel mill in Braddock, Pennsylvania, is pictured here in December 2023. (Aaron M. Sprecher via AP)
The Nikkei View

Politics should not thwart Nippon Steel's plan to buy U.S. Steel

Protectionism and economic nationalism will ultimately harm American interests

Australia is pursuing offshore wind as one means of greening its power grid. (Nikkei montage/Source photo by Australia's Minister for Climate Change and Energy and courtesy of Victorian State Government)
Business Spotlight

Australia's battle to deploy offshore wind shows bumpy road to renewables

Transforming port into turbine assembly site clashes with environmental concerns

An electric bus backs into a spot at a charging station maintained by Energy Absolute in Minburi, Thailand. (All photos by Adryel Talamantes)
Automobiles

Thai clean power provider hears skeptics, rides electric bus bet

Energy Absolute stock dives as the market grows wary of its plan to fight smog

One of C919s COMAC showed off at the Singapore Airshow. (Photo by Taro Yokosawa)
Aerospace & Defense Industries

Chinese jet maker COMAC eyes Southeast Asia after Singapore debut

Region has big growth potential, but C919 and ARJ21 airliners face regulatory hurdle

Rahul Gandhi, a senior leader of India's main opposition Congress party, arrives in Mumbai on March 16, on the final leg of a nationwide march to connect with voters ahead of the country's general election.
Asia Insight

India opposition fights for relevance versus Modi election juggernaut

As Rahul Gandhi concludes march for 'unity,' his Congress party's coalition frays

U.S. Steel's Edgar Thomson Works has employed generations of steelworkers since it began operating outside of Pittsburgh in the 1870s. (Photo by Rintaro Tobita) 
Business deals

On U.S. Steel's home turf, Nippon Steel deal draws backlash and hope

Some rue decline of American industry, while others see chance for renewal

A supporter of Pakistani former Prime Minister Imran Khan's party, the Pakistan Tehreek-e-Insaf (PTI), holds a mobile phone during a protest demanding fair election results in Peshawar on Feb. 10.
Pakistan elections

Pakistan's X blockage puts new PM Sharif in hot seat over free speech

Post-election restrictions stifle business and journalism despite soaring VPN use

Nepal's prime minister, Pushpa Kamal Dahal, is balancing Kathmandu's relations with giant neighbors India and China. (Nikkei montage/Getty Images and AP)
International relations

Nepal political shakeup thrusts Kathmandu into India-China rivalry

PM Prachanda's new Beijing-friendly coalition tips scales away from Delhi

Yamaoka Tesshu (1836–1888), "Talismanic Dragon," 19th century, hanging scroll, ink on paper. One of the works on display at "None Whatsoever," the new exhibition of Japanese art at the New York-based Japan Society. (Courtesy of the Gitter-Yelen Collection: Kurt A. Gitter, M.D. and Alice Yelen Gitter)
Arts

Art of Zen goes to New York

Buddhist ink paintings and calligraphies convey the irreverent and the profound with wry humor

A man takes a pooch for a promenade in Seoul. Most South Koreans no longer see dogs as a source of food. (Photo by Ahn Seong-bok)
Tea Leaves

Time to take dog meat off the table

South Koreans now see canines as companions, not food