William Pesek is an award-winning Tokyo-based journalist and author of "Japanization: What the World Can Learn from Japan's Lost Decades."

As COVID-19 devastates India, Prime Minister Narendra Modi faces an underappreciated challenge from milestones.

The immediate ones are, naturally, infection, hospitalization and deaths, and the extent to which the delta variant is racing ahead of New Delhi's medical capabilities. But also looming in the background of Modi's every misstep: the legacy of 199

TOKYO -- The chip shortage that has disrupted car and electronics production worldwide looks increasingly likely to last into next year, industry watchers say, with Apple revealing this week that it expects the supply troubles to spread to iPhones.

The year started off with a deep freeze and resulting power outages across Texas that paralyzed semiconductor plants in the U.S. state. A fire that later broke out at Renesas Electronics' Naka factory in Japan delivered another blow to the supply chain.

Although the affected plants have mostly recovered from those

Nikkei Asia is tracking the spread of the coronavirus that was first detected in the central Chinese city of Wuhan.

Cumulative global cases have reached 195,199,879, according to Johns Hopkins University in Baltimore. The worldwide death toll has hit 4,175,769.

For more information about the spread of COVID-19 and the progress of vaccination around the world, please see our interactive charts and maps.

-- Global coronavirus tracker charts

-- Status of

HONG KONG -- China is preparing to apply an anti-sanctions law on Hong Kong, local news reports say, laying the groundwork to punish foreign financial groups in the territory that comply with Western sanctions.

The Standing Committee of China's National People's Congress will deliberate amendments to the basic laws of Hong Kong and Macao during a four-day session through Aug. 20, state-owned Xinhua News Agency said. The report stopped short of specifying the legislation under debate.

Hong Kong news outlets including

HONG KONG -- As French President Emmanuel Macron touched down in Papeete, the capital of French Polynesia, last weekend for his first official trip to Tahiti, he was met with a traditional warm welcome of flower garlands and dancers.

Unsettled fallout from France's legacy of nuclear testing in the South Pacific, however, has overshadowed his "Tour de France" meant to shore up South Pacific ties with an eye on China. On Tuesday, Tahiti time, Macron concluded his visit with a speech declaring a "debt"

TAIPEI -- Taiwan Semiconductor Manufacturing Co. has received final approval to build its most advanced chip plant yet, a day after U.S. rival Intel said it planned to seize chip industry leadership.

TSMC plans to build a 2-nanometer chip facility in Hsinchu, one of Taiwan's most important chipmaking centers.

The Environmental Review Committee, a cross government and academic environmental regulatory body, approved the plan on Wednesday. This clears the way for TSMC to start construction of the facility in early 2022

TOKYO -- Japanese budget carrier Skymark Airlines is preparing to raise 4 billion yen ($36 million) from shareholders, Nikkei has learned, as it aims to strengthen its finances and recover from the impact of the coronavirus pandemic.

The company will raise capital from investment fund Integral and the government-backed Development Bank of Japan, as well as ANA Holdings, all of which hold a stake in the carrier.

As early as August, Skymark will raise 2 billion yen through a shareholder allocation, and another 2 billion

COLOMBO -- Amid a deepening foreign exchange crisis that forced the Sri Lankan government to impose an indefinite import ban last year to save hard currency, hundreds of businesses are fighting for survival. Smaller ones have shut down, costing many their livelihoods.

Since March last year, the government has banned imports ranging from motor vehicles and air conditioners, to beer, clothing items, cosmetics and even spices such as turmeric -- an essential cooking item for most of local households.

Sri Lanka's economy took a thumping last year

HANOI -- Although vaccination drives in Southeast Asia are making progress, the region is suffering from a rising fatality rate as the delta variant of COVID-19 continues to spread. In Vietnam, a vaccination laggard in the region, the upcoming few weeks will be crucial for controlling the situation, the World Health Organization's main representative in the country has warned.

Health experts say the delta variant, a new strain of COVID-19 first detected in India, is very contagious. "As of 25