ASEAN finances eroded by pandemic, stoking risk of currency slump
JAKARTA -- Southeast Asian governments have increasingly turned to highly unusual measures to fund state coffers depleted by prolonged pandemic relief programs, raising the specter of a sell-off in the region's currencies.
Thailand on Monday decided to raise its debt ceiling from 60% to 70% of the real gross national product. Its economy has deteriorated after the government imposed tighter restrictions on activities in the capital Bangkok and other areas.
This move "will provide room" for the government to engage in further fiscal policies down
Full text of Biden's address at U.N. General Assembly
UNITED NATIONS -- U.S. President Joe Biden delivered his first address to the General Assembly Tuesday, calling for global unity against common challenges such as coronavirus and climate change.
The following is the transcript of his speech:
Mr. President, Mr. Secretary General, my fellow delegates, to all those who dedicate themselves to this noble mission to this institution, it's my honor to speak to you for the first time as president of the United States. We meet this year in a moment of intermingled
From relentless war to relentless diplomacy, Biden declares new chapter
UNITED NATIONS -- After two decades of war in Afghanistan, the U.S. is ready for a new chapter -- one that will focus on intensive diplomacy and only turn to force as a last resort, President Joe Biden said at his debut address to the United Nations Tuesday.
In line with his Aug. 16 speech after the Taliban takeover of Afghanistan, the president expressed his distaste for military arm-twisting to achieve American foreign policy goals, further narrowing down the conditions of the use of force to
What instability at the top means for Japan's alliance with the U.S.
Jeffrey Hornung is a senior political scientist at the nonprofit, nonpartisan RAND Corp.
Regardless of what you think about his policy achievements, for eight years, Shinzo Abe provided Japan with predictable leadership and a confident regional presence at a time of rising security challenges.
But with the ruling Liberal Democratic Party set to elect a new leader to replace Abe's successor, Yoshihide Suga, who barely lasted 12 months as premier, there is a question of whether this portends a return to the post-Cold War norm of revolving
Xi stays away from Evergrande but calls for inclusive growth at U.N.
BEIJING/NEW YORK -- Chinese President Xi Jinping made no mention of embattled property developer China Evergrande Group or the threat of a systemic crisis that is shaking global stock markets as he addressed the United Nations General Assembly via video on Tuesday.
Instead, he called for the world to aim for "balanced, coordinated and inclusive growth" and that the fruits of development be shared among the people.
It echoed his recent emphasis on "common prosperity" and underscored the silence of the Communist Party- and state-run media

Who's slacking? Dog sleds offer insight into Japan's LDP race
TOKYO -- With a week left before the Sept. 29 vote to decide the next president of Japan's ruling Liberal Democratic Party, the four candidates are ramping up their campaigns on social media and other channels amid the coronavirus pandemic.
Watching their efforts, this reporter was reminded of an unusual question from former LDP Secretary-General Koichi Kato while reporting on the leadership race 22 years ago.
The LDP election in 1999 was a three-way race between Kato, the incumbent Prime Minister Keizo
U.S. probes Zoom's $15bn Five9 deal over national security risks
PALO ALTO, U.S. -- The U.S. Department of Justice has launched an investigation into Zoom's proposed $15 billion acquisition of American cloud contact center software Five9, as the deal poses potential national security risks due to "foreign participation," a public filing shows.
The Justice Department asked the Federal Communications Commission, which is reviewing the deal, to not take any action until it completes the investigation over the companies' "foreign relationships and ownership," according to a letter
Evergrande turmoil forces Chinese developers to prove strength
HONG KONG -- Chinese property companies are scrambling to demonstrate their financial strength in the wake of market turmoil over the troubles of leading developer China Evergrande Group.
In a flurry of exchange announcements beginning Monday evening, a string of small and midsize property companies announced new capital injections or redemptions of outstanding bonds, helping to calm Hong Kong's unsettled stock market.
After falling 5.8% on Monday, the Hang Seng Mainland Properties Index rose 3% on Tuesday.
Guangzhou R&F Properties, which, like Evergrande
Shinzo Abe casts a long shadow over LDP leadership race
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."
The race for the Liberal Democratic Party's leadership, which will be decided on Sept. 29, would appear to mark a generational shift for Japan's longtime ruling party.
Three of the four candidates -- Taro Kono, Sanae Takaichi and Seiko Noda -- would be the first prime minister born in 19
Japan's MUFG to sell unit of Union Bank to U.S. Bancorp for $7bn
TOKYO -- Japan’s Mitsubishi UFJ Financial Group is selling the retail banking division of its U.S. regional bank MUFG Union Bank to U.S. Bancorp, the largest regional bank in the country, in a deal worth around 800 billion yen ($7.3 billion), Nikkei has learned.
The sale comes as MUFG reviews its business structure amid lower interest rates and increasing costs from bricks-and-mortar operations. Union Bank has been central to MUFG's U.S