South Korea's Hanwha builds arms empire as Ukraine, Iran wars spur spending

PHILADELPHIA, Pa. -- Nearly three-quarters of a century after it was founded by 30-year-old gunpowder engineer Kim Chong-hee, the business that began life as Korea Explosives Co. is leading a charge in South Korea's booming defense industry.


KKR bullish on sports investment, Asian stadium deals: co-CEO

NEW YORK -- KKR sees big opportunities to increase its sports investments, and it is looking for more deals in Asia, according to co-CEO Joseph Bae.


Japan's trading houses see benefits from Iran war but set buffers

TOKYO -- Japan's large trading companies are reporting limited impact on their earnings from the Iran War, with some even seeing potential upsides from disruptions to global energy and petrochemical supply chains.


BOJ data hints at over $30bn intervention to support yen on Thursday

TOKYO -- Money market data released by the Bank of Japan on Friday suggests that there were yen-buying interventions worth around 5 trillion yen ($32 billion) on Thursday, backing up the Japanese unit's sharp rally against the U.S. dollar.


Fate of Myanmar's Aung San Suu Kyi called into question

BANGKOK -- A son and associate of Aung San Suu Kyi have raised doubts about the condition of Myanmar's most prominent political prisoner after she was reportedly moved to house arrest , questioning a photograph of her in state media accompanying the news.


Prabowo announces cut to ride-hailing app fees in Indonesia

BOGOR, Indonesia -- Indonesian President Prabowo Subianto told a May Day rally in Jakarta on Friday that ride-hailing companies' driver commissions will be cut from 20% to 8%, as he seeks to mollify a key constituency being squeezed by the global energy crisis.


Japan and Australia to fast-track six critical mineral projects

TOKYO/SYDNEY -- Japan and Australia are to prioritize and fast-track six projects dealing with the development of critical minerals, including rare earths and nickel, Nikkei learned on Friday.


Scandal-hit 'baijiu' maker sharply revises earnings with chairman missing

TOKYO -- A major producer of the Chinese liquor baijiu has drastically restated its earnings, slashing key figures by half or more, while speculation swirls around its missing chairman and business conditions across the sector offer little to cheer.


Yen surges to 155 versus dollar for second day amid intervention talk

TOKYO -- The yen rose strongly against the dollar for a second straight day on Friday, jumping from 157.11 to around 155.50 in less than 10 minutes during late-afternoon trading.


India's geopolitical clout tested in Maldives-Mauritius rift over Chagos

COLOMBO -- A legacy of British colonization has surfaced to rock India's diplomatic strategy in the string of island nations in the Indian Ocean, as two of them, the Maldives and Mauritius, have severed diplomatic ties with each other over a territorial dispute.