ROME/BERLIN -- Ferrari released its first electric vehicle Tuesday, taking a path that has proven treacherous for other luxury car makers.

TOKYO -- The strength of the yen in real terms has hit a new low going back to the 1970s, pushing down Japan's external purchasing power, as the trade deficit and other structural selling pressure factors on the yen are exacerbated by rising oil prices.

TOKYO -- Even as Japanese equities are roiled by the turmoil in the Middle East, the yen has become unusually quiet as individual investors stand pat amid an uncertain market.

ANKARA -- A consensus is emerging among NATO allies to invite the leaders of Japan, South Korea, Australia and New Zealand to its annual summit to be held in Ankara in July, a senior Turkish government official told Nikkei Asia.

WASHINGTON -- The U.S. Federal Reserve could embark on "a series of" rate hikes in response to inflation stemming from the turmoil in the Middle East, Neel Kashkari, president of the Federal Reserve Bank of Minneapolis and a voting member of the Federal Open Market Committee (FOMC), told Nikkei recently.

TOKYO -- Japan is set to begin talks with South American trade bloc Mercosur toward an economic partnership agreement, Nikkei has learned, as Tokyo pursues alternative sources of oil and critical minerals as well as lower tariffs on its autos in a growing market.

TOKYO -- Japanese machinery maker Nabtesco plans to begin mass production of fully electric power steering systems for large commercial vehicles in 2027, targeting China's shift to electric vehicles as Japan's own market plateaus.

DUBAI, United Arab Emirates -- Oil-producing Middle Eastern countries are looking to expand pipeline capacity to bolster alternative transportation routes as they seek to bypass Iran's chokehold on the Strait of Hormuz.

BEIJING -- China has stockpiled more than 30 days' worth of coal to feed power plants ahead of an anticipated summer heat wave and electricity shortage induced by the El Nino climate effect.