SINGAPORE -- The Association of Southeast Asian Nations has appointed Brunei's second foreign minister, Erywan Yusof, as a special envoy to crisis-wracked Myanmar.

Yusof will be tasked with mediating the political unrest that has gripped the country since the military seized power six months ago. A source in Myanmar's armed forces told Nikkei Asia that Myanmar has "accepted" the selection.

In a joint communique released Wednesday, following an ASEAN foreign ministers meeting held two days earlier, the 10-member bloc said it

TOKYO -- Central banks across the world are rushing to develop their own digital currencies in a bid to provide safe and convenient payment systems as digitalization rapidly expands to many segments of the economy.

China has been testing its digital yuan in multiple cities while the European Central Bank announced last month plans to proceed with its digital euro project and launch a two-year investigation that will look into the development and impacts of a central bank digital currency (CBDC).

While over 60 central banks are exploring the possibilities of a

TOKYO -- Toyota Motor on Wednesday reported a net profit of 897.8 billion yen ($8.2 billion) for the April-June period, a record amount for the quarter, thanks to robust sales in North America and China that reached pre-pandemic levels.

The automaker, however, kept its net profit forecast for the year through March 2022 at 2.3 trillion yen as it anticipates rising raw material costs and other headwinds.

Honda Motor on the same day upwardly revised

TOKYO -- Japanese industrial conglomerate Hitachi will buy European defense electronics company Thales’ railway signaling business for 1.66 billion euros ($1.97 billion), the company said Wednesday.

Thales’ Ground Transportation Systems operates rail signaling, train-control and fare-collection systems. The unit has about 9,000 employees in 42 countries and generated 1.6 billion euros in revenue in fiscal 2020.

Through the purchase, Hitachi hopes to expand digitization in the rail sector

TOKYO -- The Japanese women's softball team beat the U.S. in the final to win gold at the Tokyo Olympics on July 27. On the same day, South Korean President Moon Jae-in and North Korean leader Kim Jong Un agreed to improve North-South relations, the two countries announced.

It was also revealed that the two leaders had exchanged personal letters since April, when North Korea had said it would not participate in the Summer Games because of the COVID-19 pandemic.

Hamish McDonald is a former New Delhi correspondent for the Far Eastern Economic Review and author of "Mahabharata in Polyester," about India's Ambani family.

Take a look at the medal tally in the Tokyo Olympics and spot the big anomaly: After 12 days of competition, India -- soon to have the world's largest population -- had just one silver medal and two bronze medals.

It is not that Indians cannot excel at sports, as any cricket fan will tell you. It is just that

KUALA LUMPUR -- Malaysian Prime Minister Muhyiddin Yassin on Wednesday fought off attempts to force his resignation, likely buying at least a month to demonstrate he still controls a majority in the lower house of parliament.

The premier appeared to have lost what was thought to be a two-seat advantage Tuesday night, when around 10 lawmakers from the largest ruling coalition party -- the United Malays National Organisation (UMNO) -- formally withdrew their support. Yet Muhyiddin told a live telecast on Wednesday that he will face a confidence

TOKYO -- Sony Group reported on Wednesday a 9% rise in net profit in the first quarter, despite a slowdown in its breadwinner gaming business, which thrived during the height of the COVID-19 pandemic.

Net profit was 212 billion yen ($1.9 billion) for the April-June period while operating profit increased 26% to 280 billion yen. Revenue jumped 15% to 2.2 trillion yen.

The company's gaming business took a dive, with

BANGKOK -- Thailand's richest man has announced that his company will produce a traditional herbal remedy to treat symptoms of COVID-19 as the country grapples with a devastating third wave of infections.

Dhanin Chearavanont, senior chairman of top Thai conglomerate Charoen Pokphand Group, said this week that he is setting aside about 100 rai (16 hectares) of CP Group's land in Saraburi Province to grow fah talai jone . The herb is used to make an anti-inflammatory drug recently approved by the