Evergrande housing under construction in Wuhan, China. The developer has been accused of counting incomplete projects as revenue. (Photo by Noriyuki Doi)
China debt crunch

China Evergrande fine suggests no more Mr. Nice Guy from Beijing

Watchdog slaps $580m penalty on core unit for inflating revenue

20 March 2024
Japanese Finance Ministry officials worried that the yen could fall lower if Bank of Japan Gov. Kazuo Ueda stressed keeping monetary policy loose. (Photo by Koji Uema)
Bank of Japan

Yen, wages and politics forced BOJ's hand on March rate hike

Earthquake took January off table; currency slump spurred move before April

20 March 2024
U.S.-ASEAN Business Council President Ted Osius, left, speaks at a news conference in Hanoi on March 18. (Photo by Yuji Nitta)
Companies

Boeing, Meta join U.S. business delegation to Vietnam

Companies weigh investment opportunities amid 'friendshoring' push

20 March 2024
Nippon Steel looks to complete the purchase of U.S. Steel by September. (Photo by Yuki Nakao)
Business deals

Nippon Steel to move U.S. base to Pittsburgh after U.S. Steel deal

Japanese steelmaker seeks closer ties with community to smooth purchase

20 March 2024
BOJ Governor Kazuo Ueda speaks at a news conference at the bank's headquarters in Tokyo on March 19. (Photo by Mayumi Tsumita)
Bank of Japan

BOJ ends negative rates, leaves questions over policy direction

Ueda vows to 'set monetary policy like other normal central banks'

19 March 2024
Rebuilding America's chip supply chain is shaping up to be a bigger challenge than expected, despite hefty investments by TSMC, Intel and their suppliers. 
Technology

TSMC, Intel suppliers delay U.S. plants on surging costs, labor crunch

At least 5 chemical makers slow expansion as industry awaits CHIPS Act funds

19 March 2024
Investors are now asking whether the BOJ will further raise rates this year, and if so, at what pace. (Photo by Nanami Sato)
Markets

Japanese yen slides past 150 after BOJ decision to raise rates

Nikkei average regains 40,000 line; Topix rises 1%

19 March 2024
Solar panels and wind turbines in Quy Non, Vietnam. The U.S. is supporting exports related to renewable energy, the climate and infrastructure to the Southeast Asian country.
Supply Chain

U.S. to finance $500m in green exports to Vietnam

Clean energy, infrastructure and climate projects may get Exim Bank loans

19 March 2024
The China Securities Regulatory Commission has imposed a fine of 4.2 billion yuan ($580 million) on Hengda Real Estate, the mainland unit of Hong Kong-listed Evergrande Group.
China debt crunch

China fines Evergrande for inflating revenue by $80bn

Former senior executives fined for 'extremely horrendous' financial fraud

19 March 2024
The penetration of new energy vehicles in China could exceed 50% within the next three months, according to BYD Chairman Wang Chuanfu.
Electric cars in China

China vows to pull out all the stops for EV supply chain buildup

Beijing to order 3 state-backed automakers to step up R&D spending

19 March 2024
The Bank of Japan is preparing to end major parts of its monetary easing program at this week's policy board meeting. (Photo by Yuji Murakami)
Bank of Japan

BOJ to end yield curve control and ETF purchases Tuesday

Negative interest rates also ending in Japanese monetary policy shake-up

19 March 2024
The Hidden Gem, commissioned by Canadian miner The Metals Company, is pictured in the Mexican Pacific port of Manzanillo, in September 2023. (Greenpeace Mexico via Reuters)
Environment

Deep-sea mining talks to resume as interest swells from China to U.S.

U.N. body chief hopes industry can help vulnerable states; ecosystem a concern

18 March 2024
The Nikkei Stock Average rose over 1,000 points on March 18. (Photo by Yuji Murakami)
Markets

Japan's stocks rise over 2% as BOJ rate hike expectations build

Annual wage deals give weight to prospects for higher interest rates

18 March 2024
Experts discuss Asia's response to global issues likely to arise after this year’s U.S. presidential election during a symposium in Tokyo on March 15. (Photo by Akira Kitado)
International relations

Asia must keep pushing for free trade after U.S. election: experts

Tokyo symposium highlights protectionism worries amid potential Trump comeback

18 March 2024
VinFast, one of the few international EV businesses to target Africa, announced plans for Ghana within weeks of making deals in five other countries, from Oman to Indonesia. (Photo by Lien Hoang)
Automobiles

Vietnam's VinFast enters Africa EV market via Ghana distributor

Nasdaq-listed carmaker adds fourth continent and eyes dozens of other countries

18 March 2024
Debt restructuring or swaps for local government financing vehicles, either through banks or special refinancing bonds, will only provide temporary relief against an imminent liquidity crisis, scholars and analysts say.
Caixin

Why China's drive to resolve hidden government debt could fall short

Some estimates indicate nation has around $10tn in such debt

18 March 2024
Surprisingly generous pay raises at some of Japan's biggest corporations might have finally persuaded the Bank of Japan to start moving away from its unconventional monetary policy. (Nikkei montage/Akira Kodaka, Yuji Murakami, and pool)
Market Spotlight

Japan's wage hikes create game-changing inflation dynamic as BOJ meets

Market braces for comprehensive overhaul of the central bank's monetary policy

18 March 2024
Japan's benchmark Nikkei Stock Average hit a record high on Mar. 4: Unlike 1989, there are strong fundamental factors supporting the recent run-up. (Photo by Akira Kodaka)
Opinion

Japan's stock market rally can outlast negative interest rates

Governance reforms and other initiatives are transforming the economy

18 March 2024
Philippine President Ferdinand Marcos Jr. talks with U.S. Secretary of State Antony Blinken in Manila in August 2022. The two will meet again this week.
Your Week in Asia

BOJ monetary policy, Blinken meets Marcos in Manila, GoTo earnings

Your weekly lineup of Asia's biggest business and political events

17 March 2024
Japanese trading house Marubeni is an investor in the Centinela mine in Chile. (Marubeni)
Commodities

Chile copper mine backed by Japan's Marubeni set for $2.5bn international loan

Exclusive: Production expansion for vital EV metal secures financing

17 March 2024
The Bank of Japan is moving toward its biggest monetary policy shift in more than a decade. (Photo by Nanami Sato)
Bank of Japan

BOJ to end negative rates, marking 1st hike in 17 years

Japan central bank moves toward normalizing policy amid rising wages

16 March 2024
A union employee writes the status of responses to labor-management negotiations on a whiteboard in Tokyo on March 13. (Photo by Suzu Takahashi)
Economy

Japan's unions win biggest wage hike since 1991 in 'stage change'

Preliminary tally shows 5.28% increase, giving BOJ impetus to hike rates

15 March 2024
An unfinished residential building in Tongchuan, in China's Shaanxi province: House prices declined again in February, hinting that steps taken to stem the fall have not worked so far.
Economy

China home prices sink further despite mortgage rate cut

February data shows another 0.3% monthly drop in top-tier cities

15 March 2024
NEC's Chief Technology Officer Motoo Nishihara, left, and Corporate Senior Executive Vice President Masakazu Yamashina, who also serves as co-chief operating officer (Source photos by Cheng Ting-Fang)
Supply Chain

Japan's NEC says AI slices its software development time, cost

Company is experimenting with use cases for its artificial intelligence solutions

15 March 2024
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

15 March 2024