Cambodia counts the cost of its push to expand coal-fired power
PHNOM PENH -- The potential cost of Cambodia's push to boost its reliance on coal power has increased sharply since it began to ramp up two years ago, prompting calls for the government to rethink and promote renewable energy.
As world leaders, banks and companies push to cut carbon emissions by shifting toward cleaner power, Cambodia has been moving in the opposite direction, with plans for new generation capacity and imports that will take fossil fuels from 56% of its grid to almost 75% within the next decade
Honda to enter satellite launch business by 2030
TOKYO -- Honda Motor will launch a test rocket by 2030 as it looks to enter the commercial space business, the Japanese car company announced Thursday, applying combustion-engine and other automotive technologies to new areas, even as the car industry shifts to electric vehicles.
Honda says it will halve small satellite launch costs, which typically run as high as 5 billion yen ($44.6 million), by reusing rockets. It plans to develop a small rocket capable of carrying satellites weighing less than
University of Tokyo to set up $536m fund for school-born startups
TOKYO -- The University of Tokyo plans to start investing directly in startups spawned at the school through a new 60 billion yen ($536 million) fund, Nikkei has learned, as the venerable institution aims to support the creation of unicorns and help Japan catch up in the global tech race.
The university has already invested in over 110 startups through a partnership with The University of Tokyo Edge Capital Partners, a private sector VC.
National universities are currently prohibited from directly investing in startups, but
Microsoft to launch cloud gaming service at Tokyo Game Show
TOKYO -- Microsoft is preparing to launch a cloud-based gaming service for Japan and Australia on Friday in a move that will likely stoke competition in the growing market.
The U.S. tech giant revealed its launch plans on Thursday during a livestream event for the Tokyo Game Show, one of the world's biggest gaming expos that opened earlier on the day.
Gamers in Japan and Australia will have access to the new cloud gaming service starting Oct. 1.
Anyone with a membership to the Xbox Game Pass
Fumio Kishida unlikely to break with Shinzo Abe's legacy
Tobias Harris is a senior fellow at the Center for American Progress, an independent, nonpartisan policy institute. He is the author of "The Iconoclast: Shinzo Abe and the New Japan."
After Fumio Kishida finished a distant second in the race to succeed Shinzo Abe as leader of the Liberal Democratic Party in September 2020, Makoto Koga, the outgoing honorary chairman of the moderate Kochi-kai faction, had some harsh words for his protege.
"A Kishida administration must be created. But making a Kochi
China Evergrande misses another bond payment
HONG KONG -- China Evergrande Group has missed a second bond coupon payment in as many weeks, renewing concerns over its ability to repay over $300 billion in liabilities.
Evergrande, the world's most indebted developer, has little cash left and has missed payments to suppliers, banks and retail debtholders too. It was due to pay $46 million in interest to holders of an offshore bond by 11:59 p.m. Wednesday New York time, but two investors said on Thursday
Australia 'crosses the Rubicon' with nuclear submarine accord
BANGKOK -- Australia, the U.K. and U.S. have concluded a naval deal in a manner more secret than the interior of any nuclear submarine.
Through the AUKUS security pact, announced on Sept. 15, closely guarded nuclear submarine technology will be transferred to Australia, which will gird its defenses with at least eight of the vessels.
Left entirely in the dark, France was enraged because the deal involves the unilateral cancellation of a 2016 contract it concluded with Australia for diesel-
Foreign militant numbers rise in Kashmir for first time in 2 years
NEW DELHI -- The number of foreign militants is rising in Indian administered Kashmir for the first time since Prime Minister Narendra Modi's government scrapped the region's limited autonomy in 2019, forcing New Delhi to adjust to a shifting geopolitical environment following the Taliban takeover in Afghanistan in August.
Many of the foreign fighters crossing into Kashmir are affiliated with Jash-e-Mohammad (JeM) and Lashkar-e-Toiba (LeT), groups based in Pakistan that have been fighting together with the Haqqani
Japan's Rakuten prepares to take online banking unit public
TOKYO -- Rakuten Group on Thursday said it is preparing to publicly list shares in online banking subsidiary Rakuten Bank in a move that would raise funds for its fastest-growing segment as the wider group incurs heavy losses on forays into telecom businesses.
The Japanese e-commerce group's board also decided to incorporate its new telecommunications solutions business, Rakuten Symphony, launched in August.
"Rakuten Bank believes that through the listing of its shares, it will be possible to carry out management with a more autonomous perspective, and
Businesses in Japan call for border reopening as COVID curbs ease
TOKYO -- Businesses and universities in Japan are renewing calls for foreign workers and students to be allowed into the country as the government prepares to lift other coronavirus-related restrictions.
States of emergency that have been in effect in Tokyo and other prefectures since April end on Thursday while the government prepares to shorten the mandatory quarantine period for citizens and resident foreign nationals returning to Japan.
The ban on new visa applicants entering the country, however, will remain in place.
"The total entry ban will stay with certain exceptions,