Richard Heydarian is an Asia-based academic, columnist and author of "The Rise of Duterte: A Populist Revolt Against Elite Democracy" and the "The Indo-Pacific: Trump, China and the New Struggle for Global Mastery."

The Norwegian Nobel Committee's decision to co-award this year's Peace Prize to Maria Ressa, along with Russian journalist Dmitri A. Muratov, could not have come at a more crucial juncture in Philippine politics as the country heads toward elections that will test the future of

TOKYO -- A long-serving opposition lawmaker backed by Toyota Motor's labor union will not run in Japan's lower house election on Oct. 31, a decision that comes as the auto industry considers its relationship with the government in an era of stricter environmental restrictions.

Shinichiro Furumoto, who represented Aichi Prefecture's 11th district for 18 years over six consecutive terms, posted on Twitter on Thursday that he "struggled over how to achieve policy goals instead of engaging in interparty strife."

MANILA -- Nearly half a century after former Philippine dictator Ferdinand Marcos declared martial law, his only son's bid for the country's presidency is stirring memories of that period of corruption, excess and brutality.

Ferdinand "Bongbong" Marcos Jr. formally entered the race for the May 2022 election earlier this month. A Pulse Asia survey conducted Sept. 6-11 put him ahead of rivals who have registered as candidates, behind only President Rodrigo Duterte's daughter Sara, who missed the

TOKYO -- Japan launched Friday a council tasked with realizing Prime Minister Fumio Kishida's vision of a "new capitalism," naming members ranging from an AI entrepreneur to the first female leader of Japan's largest labor organization.

The council holds its first meeting as early as this month to discuss ways to advance Kishida's push for a virtuous cycle of growth and distribution, such as through tax incentives for businesses that raise worker pay. An interim report is due out by year-end.

The new panel

TOKYO -- Nippon Steel's patent infringement lawsuits against Toyota Motor and China's Baoshan Iron & Steel are an extremely rare case of a Japanese materials company taking one of its principal domestic customers to court.

What pushed the steelmaker to this drastic action? Some observers say it could be connected to past technology leaks to China and South Korea.

At stake is electrical steel sheet, a key material for electrified vehicles.

For Nippon Steel, electrical steel sheet brings back bitter memories of its treasured tech being leaked to Asian

SYDNEY -- Anglo-Australian miner Rio Tinto has downgraded the shipment forecast of Australian iron ore due to labor shortages and delayed development of coal mines in Western Australia, the company announced on Friday.

The company revised the shipment forecast to 320 million to 325 million tons in 2021, down from the previous forecast of 325 million to 340 million tons. The last time the company's Australian iron ore shipment was under 330 million tons was in 20

TOKYO -- Chinese goods producers may be feeling squeezed by spiking input costs, but a wave of profit updates from the country's resource producers highlight the windfall coming their way.

Beijing on Thursday reported a 10.7% year-on-year rise in the country's producer price index, the biggest jump since China began compiling such data 25 years ago. A key driver was higher prices for coal, the fuel used in most of the country's power plants.

China Coal Energy,

TOKYO -- The Tokyo Stock Exchange has moved a step closer to lengthening stock trading for the first time in seven decades, to 3:30 p.m., as early as fall 2024, Nikkei learned Friday.

The proposed 30-minute extension would give investors more opportunities to participate in the Japanese market, and enable stock prices to better reflect developments here and in other Asian markets, according to an internal report seen by Nikkei.

Japan's current five-hour trading day,

BEIJING -- The Chinese Communist Party's anti-corruption unit has dispatched inspectors to 25 financial companies, including top state-owned banks, in what appears to be a crackdown prompted by the Evergrande debt crisis.

Fifteen teams from the Central Commission for Discipline Inspection will conduct a two-month review of the institutions, pushing them to "hold fast to the bottom line of no systemic financial risks," the People's Daily, the Communist Party's official newspaper, reported Thursday.

The probe comes