Malaysia's GDP grows 16.1% in Q2 but COVID darkens outlook

KUALA LUMPUR -- The Malaysian economy grew 16.1% on the year in the second quarter of 2021, the central bank announced on Friday -- a consolation for a Southeast Asian country facing relentless COVID-19 infections, lingering movement restrictions and persistent political uncertainty.

But at the same time, the bank issued a reality check by sharply cutting its full-year gross domestic product growth target to 3.0% to 4.0%, versus the initial 6.0% to


Thailand's tourism resources dwindle ahead of reopening

BANGKOK -- Tourist attractions are gradually disappearing ahead of Thailand's full reopening for vaccinated visitors in mid-October as the epidemic of the delta strain bruises Southeast Asia's second-largest economy.

The Train Night Market Ratchada, Bangkok's popular twilight flea market, known as Talaat Rot Fai, became one of the most recent business victims of the coronavirus. It had been scheduled to resume operation on Aug. 1 after closing temporarily due to the government's COVID-19 restrictions, but now will


Year of Israel-UAE ties fails to change minds in Indonesia, Malaysia

DUBAI -- One year after Israel and the United Arab Emirates reached a historic normalization agreement, ties between the Middle Eastern states are thriving. The prospects for Israel extending its diplomatic gains to Asia's Muslim-majority countries, however, appear dim at best.

U.S. President Donald Trump announced the deal on Aug. 13, 2020, and the agreement was signed about a month later. Trade between the UAE and Israel has since reached $570 billion, according to local

Continue reading...

Southeast Asia fundamentals 'intact' despite COVID: Sea economist

SINGAPORE -- Southeast Asia has become the epicenter of the COVID-19 pandemic as the more contagious delta variant rages through the region, causing some countries to downgrade their growth outlook.

But the group chief economist of the region's most valuable listed company, Sea, says Southeast Asia's growth fundamentals remain "intact," and the prolonged pandemic would underpin the region's burgeoning digital economy.

"What we see in emerging markets, especially in Southeast Asia, is that the growth fundamentals very much remain


Vietnam delivery startup Loship strives for rare US IPO

HO CHI MINH CITY -- Delivery startup Loship aims to become the first Vietnamese company to list on a U.S. stock exchange in more than a decade, its CEO told Nikkei Asia, demonstrating the kind of ambition that international investors are stoking as they scour the region for deals.

Fresh off a $12 million funding round co-led by Ant Group-backed BAce Capital, Loship said it hopes to debut on the New York Stock Exchange by 2024, after reaching profitability in 18


Airplanes and computers -- my hobbies: Saha Group chairman's story (20)

Boonsithi Chokwatana is the Chairman of Saha Group, Thailand's leading consumer products conglomerate. This is part 20 of a 30-part series .

So far, almost all I have talked about is work.

In this entry, I would like to write about two of my hobbies.

One is flying small aircraft. I spent a year getting my license in 1977 when I was around 40 years old, when our industrial park was being developed.

It all started when I was having dinner


After NY exit, China Mobile eyes big U-turn with Shanghai listing

HONG KONG/BEIJING/SHANGHAI -- The three big Chinese state-owned telecom companies that delisted in New York this year are turning homeward to raise capital and expand their business as tensions with the U.S. and Beijing's regulatory clampdown hit the brakes on global expansion.

Two of the three, China Mobile and China Telecom, are set to list in Shanghai soon. The third, China Unicom, already has a subsidiary listed in Shanghai.

"Our A-share listing, besides raising new funds,


Samsung chief Lee Jae-yong leaves prison on parole

SEOUL -- Samsung Electronics' Vice Chairman Lee Jae-yong was paroled on Friday after serving more than half of a 30-month prison term for corruption, raising fresh questions about the principle of equality under the law in South Korea where convicted business titans often receive leniency.

The 53-year-old executive, who despite his title is the company's key figure, walked out of the Seoul Detention Center in Uiwang, a city just south of Seoul, in the morning. He made brief remarks


'Nixon shock' still haunts Japan: ex-financial diplomat Gyoten

TOKYO -- When U.S. President Richard Nixon decided in the summer of 1971 to suspend the dollar's convertibility into gold, the postwar system of fixed exchange rates that pegged the yen at 360 to the greenback collapsed, throwing the Japanese economy into turmoil.

Toyoo Gyoten, honorary adviser to the Institute for International Monetary Affairs, a Tokyo-based think tank, and a former Japanese Vice Minister of Finance for International Affairs, discussed the legacy of the "Nixon shock" in an


Toshiba turns to first Q1 profit in 2 years under interim leader

TOKYO -- Toshiba turned to profit in the April-June quarter for the first time in two years, as the company faces management shake-ups and governance questions from shareholders.

The Japanese industrial conglomerate generated an operating profit of 14.5 billion yen ($131.3 million) in the first quarter to end-June, up by 27 billion yen from the same period in 2020 during the pandemic.

Revenue increased by 21% to 727.8 billion