SINGAPORE -- Singapore has plenty of catch-up to do if it wants to match chipmaking powerhouses in Asia like Taiwan, even as it sees an influx of semiconductor-related investments announced over the past year to the tune of billions of dollars.

Although it is known in Asia as a prominent financial and technology hub, Singapore's peers in the region dwarf it in chipmaking. The city-state is attempting to shore up its electronics sector, having set a target to grow its manufacturing industry by 50%

SINGAPORE -- Singapore on Wednesday upgraded its growth projection for this year to a range of 6% to 7%, from the previous 4% to 6%, with a roughly 70% COVID-19 vaccination rate enabling plans to gradually reopen more of the economy.

That would bring economic output for 2021 above the 2019 level. The city-state's economy contracted 5.4% last year.

Gross domestic product grew 14.7% on the year in

TOKYO -- Overseas businesses with links to the Myanmar military, such as Japan's Kirin Holdings, are reporting losses amid a shaky market outlook exacerbated by the military takeover in February.

Kirin Holdings on Tuesday posted an impairment loss of over 21.4 billion yen ($193 million) in the six months through June on account of its beer production businesses in Myanmar.

The brewery said in a statement that the loss was recorded "considering the outlook for a continuing high level of uncertainty of the operating

TOKYO -- China has become No. 1 in the output of highly cited natural science papers, a development that could make the country even stronger in terms of industrial competitiveness.

Japan's National Institute of Science and Technology Policy counted the number of academic papers that are ranked among the top 10% in terms of citations and found that China has overtaken the U.S. and become No. 1.

The number of highly cited papers is an important indicator of a country's research strength. The Japanese

TOKYO -- SoftBank Group will significantly cut back on new investments in China due to regulatory uncertainty, Chairman and CEO Masayoshi Son said on Tuesday, after a crackdown by Beijing dented the valuation of its investments.

The retreat of SoftBank marks the loss of one of the most aggressive tech investors in China and signals a correction in startup valuations there. The Japanese company has poured billions of dollars into some of the country's biggest tech companies, including Didi Global, ByteDance and Alibaba Group Holding.

"I strongly believe that

TOKYO -- Japanese public organizations, academia and private companies are set to launch a joint research project on the mining and development of lunar resources, including an exploration for water.

The University of Tokyo and the National Institute of Information and Communications Technology will team up with Yokogawa Electric, which develops control and measurement products, to establish a consortium as early as this autumn.

The parties will conduct joint research on mining and other technologies, and the development of equipment for a water exploration project on the moon that the government will

HONG KONG -- Hong Kong's largest union for teachers will dissolve, citing "huge pressure" from mainland and territorial authorities since Beijing imposed a national security law in June 2020.

Fung Wai-wah, president of the Hong Kong Professional Teachers' Union, said on Tuesday evening the decision follows "the drastic changes in the social and political environment."

The PTU has been a driving force for the pro-democracy movement in the territory over decades.

In a letter addressed to members, Fung

TAIPEI -- Chinese smartphone maker Xiaomi, which recently surged past Apple to become the world's second-largest seller, aims to surpass leader Samsung Electronics in three years.

"Our current task is to cement the No. 2 position in the global market," founder and CEO Lei Jun said Tuesday. "We aim to become global No. 1 in three years."

Lei was giving his annual speech during an online company event as Xiaomi celebrates the 10th anniversary of its first smartphone launch.

Lei

TOKYO -- Japanese trading house Marubeni will set up a market for used solar panels featuring blockchain technology to maintain accurate records and prevent fraud.

The company plans to launch a website as early as next fiscal year where buyers and sellers can provide information and make trades. Marubeni itself will participate in the market, looking to make money from buying, selling, exporting and generating power from used panels.

Japan's Environment Ministry estimates that 800,000 tons of solar panels will require replacing here each year