SEOUL -- When Kakao Bank opened its digital doors in 2017, few expected that South Korea's first online lender would stand shoulder to shoulder with the country's traditional financial giants in just four years.

But the subsidiary of the country's second-largest internet company Kakao filed an initial public offering with the financial regulator on June 28, seeking to raise up to 2.6 trillion won ($2.3 billion) on the benchmark Kospi stock market in August.

If the

TOKYO -- In the run-up to the long-awaited opening ceremony to the Olympic Games on July 23, the final countdown enters single digits on Wednesday. Some 15,000 athletes and 53,000 officials from over 200 countries are arriving in Japan for the Olympics and Paralympics.

The COVID-19 pandemic still presents a serious threat, and last weekend Prime Minister Yoshihide Suga declared a further state of emergency in Tokyo. Among other things, that means the

BANGKOK -- Global Power Synergy Public Company (GPSC), the power-generation arm of Thai oil and gas conglomerate PTT, has purchased a 41.6% stake in Indian renewable power producer Avaada Energy for 14.8 billion baht ($453 million).

Auttapol Rerkpiboon, PTT's president and CEO, said the acquisition will give PTT additional renewable generating capacity of 3,744 megawatts. "The deal expands our renewable energy portfolio, according to the renewable energy target of

TOKYO -- Fujifilm Holdings has warned the Japanese government that a research arm of the Chinese military may claim intellectual property rights over the anti-flu drug Avigan as a COVID-19 treatment.

The move signals the Japanese company's concern over growing Chinese clout in the medical supply chain as the world continues to grapple with the pandemic. Losing the patent could also be another blow for Fujifilm's global ambitions for the drug, as the company tries to transform itself into a powerful health care player.

Patent filings

MANILA -- President Rodrigo Duterte has emerged from a poll on Tuesday as the top choice to be Philippine vice president when elections come around in May 2022, and his daughter, Sara, remains the most popular pick to be his successor as president.

Duterte came through with 18% of the poll, providing a lead that might encourage the feisty 76-year-old to push ahead with his controversial bid.

Duterte is limited to a single six-year term as president under a provision in

TOKYO -- Japan's Sumitomo Mitsui Financial Group will invest about 42 billion yen ($380 million) for a stake of roughly 5% in U.S. securities company Jefferies Financial Group, Nikkei learned on Wednesday.

SMFG plans to strengthen its securities business in the U.S., owing to the countries dynamic environment for mergers and acquisitions as well as financing. It will also focus on connecting Japanese companies to overseas counterparts.

Both companies will announce the deal soon. SMFG's subsidiary

HONG KONG -- The annual Hong Kong Book Fair begins Wednesday after a year off due to COVID-19 -- and in a highly charged political atmosphere.

What was once a symbol of publishing freedom for the Chinese-speaking world is being held for the first time since Beijing imposed its national security law in June 2020. The organizer warned earlier that the police will be called over any national security complaints, though it softened its tone on Tuesday, saying exhibitors are expected to be "self-

WASHINGTON (Reuters) -- U.S. President Joe Biden on Tuesday nominated Republican former U.S. Senator Jeff Flake as ambassador to Turkey, tapping a political appointee for a critical post as ties between the two NATO allies remains strained.

"Given the strategic importance of the United States' relationship with our long-time NATO Ally, the Republic of Turkey, I am honored and humbled by the trust President Biden has placed in me with this ambassadorial nomination," Flake said in a statement.

"This

SINGAPORE -- The Singaporean economy rebounded 14.3% on the year in the April-June quarter, according to preliminary figures released Wednesday, continuing a steady recovery from the darkest days of the COVID-19 pandemic.

The latest figure is the highest jump since the second quarter of 2010, when the city-state posted an 18.6% surge as it rebounded from the global financial crisis.

Gross domestic product did decline 2.0% from the first quarter on a seasonally