Australia seeks to calm ASEAN nerves over AUKUS, nuclear weapons
SINGAPORE -- Australia is striving to ease concerns in Southeast Asia about its new AUKUS coalition with the U.S. and U.K., which will help Canberra acquire nuclear submarines.
Will Nankervis, Australia's ambassador to the Association of Southeast Asian Nations, pledged that his country "will not seek nuclear weapons" nor establish a civil nuclear capability in a statement issued on Monday. The release, titled "Australia's steadfast commitment to ASEAN centrality," also promises that AUKUS will not change the Indo
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 was up 2.3% in late afternoon trade on Tuesday.
Guangzhou R&
South Korean presidential campaign mired in mudslinging
SEOUL -- As South Korean political parties gear up for the presidential election slated for March 2022, key candidates have been preoccupied with attacking each other in bitter smear campaigns.
Bearing the brunt of these negative political campaigns are two leading candidates: Gyeonggi Province Gov. Lee Jae-myung, who is seeking nomination for the ruling Democratic Party, and former Prosecutor General Yoon Seok-youl, who hopes to be the candidate of the conservative People Power Party.
Local media are running stories almost daily about the latest
China's tech job applicants seek tutors as competition heats up
HONG KONG -- When Eileen Chen resigned from a respectable bank job three years ago, the then-25-year-old set her sights on a position at one of the top internet companies in China, keen on the industry's growth potential and generous pay.
To increase her chances of being selected, Chen paid more than 10,000 yuan ($1,500) for a three-month online course that offered to teach everything from tweaking her resume in order to
Global energy shortage looms as investment in fossil fuels slides
TOKYO/DUBAI -- To achieve net-zero greenhouse gas emissions by 2050, the U.S. and Europe are cutting back on investment in oil and gas production. But it is unclear whether they can promote the adoption of renewable energy quickly enough to slow the growth in demand for fossil fuels, raising concerns over potential energy shortages.
Natural gas prices have more than tripled in Europe since the start of the year. While rich countries scramble for natural gas, which produces fewer carbon emissions than other
Evergrande turmoil drags down Japan stocks on holiday return
HONG KONG/TOKYO -- Japanese stocks are the latest to be caught up in the global sell-off sparked by the looming default of property developer China Evergrande Group, with the main Tokyo share index down more than 2% at one point on Tuesday morning.
Other major Asian markets were flat after tumbling on Monday, with investors now awaiting signals from Beijing on how it intends to handle Evergrande's debt crisis.
The U.S. Federal Reserve's meeting on Wednesday is also pushing investors to the sidelines
Japan shipbuilding pins comeback hopes on zero-emissions vessels
TOKYO -- With decarbonization emerging as a priority in the traditionally emissions-heavy shipping industry, Japan's Imabari Shipbuilding aims to launch a cargo vessel that runs entirely on ammonia by 2026.
No ammonia-powered ships have been built to date, but the fuel is considered a key green energy source for the future. Imabari looks to take a lead in the cutting-edge field both in terms of technology and rule-setting, possibly regaining some of Japan's market share in shipbuilding lost to
China Evergrande crisis rocks markets across globe
HONG KONG/NEW YORK -- A wave of fear over Chinese economic growth swept through global markets on Monday as China Evergrande, the country's most indebted property developer, teetered on the brink of default and investors worried about the consequences for its domestic peers and international commodity prices.
While Chinese and Hong Kong property groups bore the brunt of the sell-off, the impact was felt across European and U.S. stock markets. China Evergrande, whose liabilities amount to almost a third of a trillion dollars,
HONG KONG -- Hong Kong police on Monday arrested three activists for allegedly attempting to incite subversion through distributing M&M's chocolates and other daily goods to prisoners.
Steve Li, senior superintendent of the police national security bureau, told reporters the trio aimed at fomenting "war" or "revolution" against the governments of Hong Kong and China.
He spoke after officers had raided a warehouse linked to the group, carrying out around 40 cartons including a dozen clear plastic storage boxes containing M&M's
Japan PM hopeful Takaichi speaks with Taiwan's Tsai Ing-wen
TOKYO -- Former Japanese Internal Affairs Minister Sanae Takaichi, one of four candidates running to lead the ruling Liberal Democratic Party, met online with Taiwanese President Tsai Ing-wen on Monday.
"Web meeting with Taiwan's Democratic Progressive Party Chair Tsai Ing-wen," Takaichi tweeted , addressing the leader in her capacity as the ruling party head, and not as the Taiwan president.
"We had a forward-looking conversation toward expanding and deepening practical exchanges between Japan and Taiwan, including on security," Takaichi