TOKYO -- Nippon Express Holdings will buy Metro Supply Chain Group, a North American logistics company, for around 200 billion yen ($1.25 billion) by the end of this year, Nikkei has learned.
Buyers flock to US crude oil as Iran clash squeezes Mideast supply
HOUSTON, Texas/NEW YORK -- The disruption of Middle Eastern oil supplies due to the U.S.-Israel war with Iran has sparked a rush for U.S. crude. Data on ship movements show about 70 VLCCs, or very large crude carriers, sailing toward the U.S. Gulf Coast mainly from Asia. The number is more than double last year's average of 27 supertankers in regular times.
Dresden welcomes TSMC's Taiwanese community with open arms
DRESDEN, Germany -- In his white T-shirt and slacks, Taiwanese ballet dancer Lin Chang-Yuan cuts a striking figure among German culture vultures in their finery at Dresden's Semper Opera House. Despite his breach of dress code, he is warmly received by waiters, ushers and fellow dancers.
Editor's Choice: Energy crisis spreads across Asia, but investors stay bullish
Hello from Tokyo. As uncertainty hangs over negotiations aimed at ending the war between the U.S. and Iran, the Strait of Hormuz, a critical chokepoint for Asia's energy supply, remains effectively closed. In my newsletter two weeks ago, I touched on the impact of an energy crisis on Asia. Since then, the situation has become even more serious .
In India, rising cooking gas prices have prompted migrant workers employed in manufacturing hubs, including at textile and automobile plants, to return to their home
Vietnam leader To Lam's China trip yields rail, airline, security deals
HO CHI MINH CITY -- Vietnam and China aim to double trade to half a trillion dollars as the communist neighbors press ahead with railways and economic zones at the border, with security, air travel and potential visa agreements also in the works.
Japan's home improvement stores limit sales to curb Iran war panic-buying
TOKYO -- Consumers and businesses in Japan are hoarding oil-based products in fear of shortages in the coming months due to the U.S.-Israel war with Iran, despite the Japanese government's assurances that the country has secured sufficient supplies.
Local unease casts a cloud over Johor's data center boom
JOHOR -- Malaysia's Johor state has leveraged its proximity to land-poor, data-hungry Singapore to become Southeast Asia's fastest-growing data center hub, but sustaining that boom could prove challenging amid growing signs of local unease over the breakneck pace of expansion.
Kweichow Moutai sees 1st fall in revenue, profit amid corruption crusade
TOKYO -- Kweichow Moutai, the leading manufacturer of Chinese hard liquor baijiu , has reported the first simultaneous decline in both revenue and net profit since it listed its shares in 2001, likely reflecting a squeeze on official banquets under Chinese President Xi Jinping's campaigns against corruption and extravagance.
Media exposure of Taiwan premier's baseball trip stirs Tokyo-Taipei tiff
TAIPEI -- Taiwan is facing a quiet backlash from Japanese officials over how it handled a recent visit to Tokyo by Premier Cho Jung-tai, sources said, illustrating the unique quandaries Taipei faces in conducting diplomacy.
Spanish PM's 4th China trip yields deals of little substance, analysts say
LONDON -- Spanish Prime Minister Pedro Sanchez concluded a five-day visit to China on Wednesday with a flurry of agreements aimed at boosting trade and deepening ties, but doubts remain over whether his engagement strategy can narrow Spain's widening trade deficit.