NEW YORK -- U.S. President Joe Biden on Thursday defended his decision to withdraw from Afghanistan as the Taliban make rapid gains against the country's faltering military, which the U.S. spent billions to recruit, train and arm.

"The United States cannot afford to remain tethered to policies created in response to a world as it was 20 years ago," said Biden at a briefing in the White House, doubling down on his decision to end America's longest war. "We

OSLO (Reuters) -- Norwegian telecoms operator Telenor has sold its Myanmar operations to Lebanese investment firm M1 Group for $105 million, Telenor said on Thursday, announcing its retreat from a country that slid into chaos after a military coup in February.

"Further deterioration of the situation and recent developments in Myanmar form the basis for the decision to divest the company," Telenor said in a statement.

Telenor, one of the biggest foreign investors in Myanmar, was one of the few Western companies to bet

TOKYO -- Google is making a foray into financial services in Japan by acquiring a cashless payment company for between 20 billion and 30 billion yen ($180 million to $270 million), Nikkei has learned.

Google is in negotiations to buy all the shares in pring, a Tokyo-based cashless payment and settlement startup owned by Mizuho Bank and other investors. Google hopes to be able to offer fintech services, such as payments and transfers, in Japan next year, following launches in

TOKYO -- The Japanese government has decided to declare a state of emergency in Tokyo as COVID-19 infections continue to rise, increasing the chances that the Olympics will be held without spectators.

See also

Tokyo put under COVID state of emergency during the Olympics

The new state of emergency is set to begin Monday and last until Aug. 22, after the Tokyo Olympics are over. A formal decision will be announced after a Thursday meeting of experts. This will be its fourth COVID emergency decree since April 20

Stephen Givens is a corporate lawyer based in Tokyo.

The process of resolving multiple legal claims from the grounding of the Ever Given reminds us of the complexity and ingenuity of risk spreading techniques, first developed over 400 years ago, without which the global economy would grind to a halt.

Start with the complex ownership and operating structure of the Ever Given, a mega-container ship as long as the Empire State Building is tall, with a capacity for 20,000 20-foot containers stacked

DHAKA -- In a major policy shift, Bangladesh has decided to scrap 10 proposed coal-fired power plants due to criticism from environmentalists and problems finding funds, raising concerns over the country's energy mix and relations with foreign investors.

Two of the canceled plants had been backed by Chinese funds, while others had investors from Japan, Singapore and Malaysia. The decision has removed about 8,711 megawatts total in planned power generation.

Junior power minister Nasrul Hamid said at a media briefing last week that

HANOI -- Vietnam wants Ho Chi Minh City and nearby provinces to take more aggressive measures against a wave of coronavirus infections sweeping the country's southern commercial hub.

The central government in Hanoi sent a document to authorities in those regions Wednesday, calling for actions including lockdowns to stop the spread of COVID-19. The country, which stood out for its containment of the virus in the early months of the pandemic, is now struggling to control the situation amid vaccine shortages.

"The pandemic in Ho Chi Minh

MANILA -- Philippine fast-food giant Jollibee Foods is teaming up with Double Dragon Properties to set up the country's "first and largest industrial real estate investment trust," the companies announced on Thursday.

Jollibee is the latest Philippine company moving to tap the nascent market for REITs to fund its post-pandemic recovery. Major property developers began lining up for REIT listings on the Philippine Stock Exchange last year after the government relaxed public ownership and tax rules.

Under the terms of their agreement, Jollibee will purchase shares

HONG KONG -- Chinese medical data group LinkDoc Technology has called off its U.S. initial public offering at the last minute, two people familiar with the transaction said, becoming the first casualty of Beijing's clampdown on overseas listings.

The company planned to raise up to $210 million on the tech-heavy Nasdaq exchange and closed its books on the deal on Wednesday after apparent strong demand.

However, market volatility, regulatory uncertainty and fear of angering Chinese regulators have prompted the company to cancel the