Didi IPO fallout reminds Wall Street of China policy risk

NEW YORK -- One cloudy September morning in 2014, the New York Stock Exchange building was draped in orange and white as the Chinese and American flags flew side by side, with Alibaba Group Holding CEO Jack Ma inside to celebrate the completion of the largest initial public offering ever on a U.S. stock market.

Nearly seven years later, the halcyon days of capital pouring into Chinese companies on American exchanges ended after the Cyberspace Administration of China launched an investigation into Didi Global -- a ride-


Singapore's Temasek records returns of 24.5%, highest in a decade

SINGAPORE -- Singapore state investor Temasek's portfolio reversed a decline in returns for the year ended March 31 as rebounding markets lifted it from a COVID-19-induced slump.

The company, which is among the world's most prolific institutional investors, on Tuesday reported an annual return of 24.5% for the period, a significant recovery from the minus 2.28% seen in the preceding year and its best performance in a decade.

Net portfolio value rose to  a record 3


The best chance for peace in Afghanistan is now

Takashi Okada is Japan's ambassador to Afghanistan.

As U.S. forces left Bagram Air Base after 20 years of combat operations on July 2 amid a rapidly deteriorating security situation in Afghanistan, the Taliban continued to expand its area of control in a manner no one thought was possible.

The Afghan National Defense and Security Forces (ANDSF) is struggling to cope with the Taliban offensive and is still adjusting to the diminishing support by U.S. and NATO troops. Violence is surging, with civilians being killed


China's export growth quickens as global vaccinations lift demand

BEIJING (Reuters) -- China's exports grew much faster than expected in June, as solid global demand led by easing lockdown measures and vaccination drives worldwide eclipsed virus outbreaks and port delays.

But overall trade growth in the world's second-biggest economy may slow in the second half of 2021, a customs official warned on Tuesday, partly reflecting the COVID-19 pandemic uncertainties as the Delta virus variant wreaks havoc in some countries.

The overall imports also beat expectations, though the pace


Japan asks Italy, Greece and others to take 'vaccine passports'

TOKYO -- The Japanese government will expand the number of countries it is asking to ease entry restrictions for holders of its COVID-19 vaccination certificates as it seeks to make its "vaccine passport" a convenient travel document for its residents.

The outcome of the negotiations remains unclear, however, as Tokyo is unlikely to ease its own border controls for vaccinated foreign travelers due to rising numbers of COVID-19 infections in Tokyo, raising questions over the fairness of the proposed agreement.

Tokyo, which plans to accept


Pakistan bets on talks with rebels to quell Belt and Road worries

KARACHI -- The Pakistan government of Prime Minister Imran Khan has launched a rare dialogue with separatists opposing China's Belt and Road initiative as it braces for possibly more instability in the region after the withdrawal of U.S. troops from Afghanistan.

Khan said last week that he is considering negotiations with Baloch insurgents in the southwestern part of the nation. The prime minister said that rebels might still be upset with the government due to unresolved grievances, or that India may be using them to spread terror in Pakistan. Later

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230 elected pro-democrats quit Hong Kong local councils

HONG KONG -- At least 230 members of Hong Kong district councils have announced plans to resign ahead of their likely disqualification, as growing political pressure threatens the survival of the territory's pro-democracy movement.

The entirety of the pro-democracy bloc in the Legislative Council, Hong Kong's de facto parliament, stepped down last year. Though less powerful, the district councils have provided a key political foothold for pro-democracy members, who have controlled over 80% of the seats.

But


Chip shortage forces Panasonic to cut output of home solar panel part

OSAKA/TOKYO -- Panasonic will soon halt production of a key component for rooftop solar cells due to the global supply crunch for semiconductors.

In late June, Panasonic sent client companies a notice that supplies will be delayed for power conditioners used in residential solar systems. The electronics giant is expected to suspend production for a number of products starting as soon as this month.

These changes stem from the March fire at a chip plant run by Renesas Electronics, which disrupted the procurement of semiconductors for power conditioners. Although production of


Chinese companies corralling land around world

TOKYO/YANGON -- China's strategic muscle-flexing is not limited to its expansive maritime claims and vigorous infrastructure exports; Chinese entities have also been aggressively acquiring land overseas.

Chinese companies are buying up land in Asia and Africa. The combined area of land purchased or leased by such companies over the past decade is equal to the total land area of Sri Lanka or Lithuania and much larger than acquisitions by their counterparts in the U.S. and other major countries.

Concerns are growing that emerging and developing countries

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Olympic Village 'bubble' opens in coronavirus-hit Tokyo

TOKYO -- The Olympic Village on Tokyo Bay opened Tuesday ahead of the start of the games on July 23, keeping thousands of athletes and staff in a bubble as the capital remains under a state of emergency.

The village opened without ceremony in order to avoid a large gathering that could ignite infections. Vehicles carrying athletes from Canada, Brazil and the U.S. arrived at the village in the morning. The athletes underwent temperature and baggage checks then boarded autonomous electric vehicles that took them to the residential building.