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TOKYO -- Norinchukin Bank will sell more than 10 trillion yen ($63 billion) of its holdings of U.S. and European government bonds during the year ending March 2025 as it aims to stem its losses from bets on low-yield foreign bonds, a main cause of its deteriorating balance sheet, and lower the risks associated with holding foreign government bonds.
MANILA -- The Philippines accused China of "piracy" on Wednesday, as defense officials reported injuries and stolen equipment following an incident in Second Thomas Shoal, a flashpoint in the disputed South China Sea.
TOKYO -- Japan's department store sector is soaring on strong demand from wealthy consumers and foreign tourists drawn to the country by the weak currency, now hovering in the upper 150 yen range to the dollar.
PALO ALTO, California -- Hewlett Packard Enterprise will supply $200 million of AI servers to Japan's National Institute of Advanced Industrial Science and Technology (AIST) as the country looks to make a breakthrough in homegrown generative artificial intelligence.
KUALA LUMPUR -- Malaysia plans to join the BRICS grouping of emerging nations as it seeks stronger ties with Global South economies across the world, becoming the second Southeast Asian nation after Thailand to start the accession process.
JAKARTA -- Satellite internet service Starlink's move into Indonesia has received a warm welcome from the government but has been met with resistance from telecom groups that see it as a threat to their market share.
MANILA -- The Philippines is planning to build 17 new deep-water ports to bolster its supply chains for rice and other agricultural products as well as items such as fertilizer, as it fights to keep a lid on food prices.
SHANGHAI -- Chinese stocks deemed risky by mainland exchanges have tumbled after the government vowed to set higher standards for companies to stay publicly listed, highlighting the delicate balancing act Beijing faces in reforming its capital markets without spooking investors.