Hong Kong billionaire Richard Li's insurance unit seeks US IPO
HONG KONG -- Hong Kong billionaire Richard Li's insurance business FWD is heading for a U.S. initial public offering, according to a confidential filing by its parent holding group.
FWD, which has acquired businesses in Hong Kong, Indonesia, Vietnam and Thailand in recent years, is targeting raising about $3 billion via an IPO in the third quarter at a valuation in excess of $15 billion, two people familiar with the plan said. The company intends to use the proceeds for expansion and acquisitions
Hong Kong police arrest Apple Daily editors and executives
HONG KONG -- Hong Kong national security police arrested five top editors and executives of the outspoken newspaper Apple Daily and its parent company, and raided the group's offices early Thursday morning in relation to allegations of "collusion with foreign forces."
Collusion with foreign forces is one of four offenses created under the national security law imposed on the city by Beijing a year ago.
In two news releases, the government said the offices of Apple owner Next Digital and the homes of the five people arrested were searched. This
Indonesian conglomerate CT Corp embarks on journey toward IPO
JAKARTA -- The founder of CT Corp, one of Indonesia's largest conglomerates, aims to modernize and list the massive, 34-year-old entity -- and is banking on Japanese expertise to make it happen.
Giving up their closely held status is a rarity among large, family-run Indonesian business groups. But Chairul Tanjung, who is also CT's chairman, told Nikkei Asia that getting it ready for an IPO and going public will "institutionalize" the business and ensure its continuity beyond

China sends first astronauts to maiden space station
SHANGHAI -- China launched a spacecraft on Thursday carrying three astronauts on a mission to begin constructing its maiden space station.
The Shenzhou-12 or "divine vessel" spacecraft left the Jiuquan Satellite Launch Center in the country's northwestern Gobi Desert at about 9:22 a.m. Beijing time, state broadcaster CCTV reported. It is to rendezvous with the core capsule of the space station, which was launched in April.
The manned mission, China's seventh since 2003, is
DALIAN, China/KYOTO, Japan -- At Nidec's state-of-the-art development center for electric vehicle motors in Suzhou, near Shanghai, speedy work is crucial to winning and retaining often-impatient Chinese clients.
The development center opened in September last year to produce prototypes tailored to customer needs. The process usually takes six months to a year, but some customers have asked it to be done in "a month and a half."
Meeting such tight deadlines requires adequate human resources. The

Hong Kong's Apple Daily newspaper says police arrest five directors
HONG KONG (Reuters) -- Hong Kong police arrested five directors at the Apple Daily newspaper early on Thursday morning, including its editor-in-chief, local media reported, in the latest blow to the newspaper's jailed owner Jimmy Lai.
Hong Kong Police's National Security Department said in a statement that five directors of a company had been arrested on suspicion of collusion with a foreign country or with external elements to endanger national security.
It said only that the five included four men and a woman aged
War on cybercrime demands global campaign: Kaspersky CEO
MOSCOW -- International cooperation is crucial to fighting hackers, Kaspersky CEO Eugene Kaspersky told Nikkei in a recent interview, at a time when Chinese cybercriminals are more actively targeting Japan.
The Moscow-based company offers antivirus software and other information security products. It detects an average of 360,000 new malicious applications a day, up 20% to 25% since the coronavirus began spreading worldwide in the spring of 2020, the CEO said.
Many attacks are carried out by Russia
Japan set to lift some COVID curbs ahead of Tokyo Olympics
TOKYO -- The Japanese government is set to ease COVID-19 restrictions in Tokyo and other prefectures from next week, after it lifts a state of emergency ahead of the Olympic Games in about a month.
Prime Minister Yoshihide Suga will consult with experts on Thursday on the lifting of strict restrictions. A quasi-state of emergency will be applied on seven prefectures beginning June 21, after the current state of emergency expires on June 20 in 10 prefectures, in a move to prevent another wave of infections
India blasts Twitter for failing to comply with social media rules
NEW DELHI -- Twitter has failed to comply with new information technology rules that India put into effect in late May, IT minister Ravi Shankar Prasad said on Wednesday, slamming the platform for "deliberately" choosing a path of defiance.
The rules, announced in February, require additional due diligence by large social media platforms such as Facebook, WhatsApp, Instagram and Twitter; they also require the appointments of a chief compliance officer, "nodal contact person" and resident grievance officer.
Twitter has reportedly filled the positions of resident
Thailand to 'fully reopen in 120 days,' prime minister promises
BANGKOK -- Prime Minister Prayuth Chan-ocha announced Thailand will "fully reopen within 120 days" during a televised address on Wednesday evening.
Prayuth said the unilateral decision had been taken on the basis of "signed reservation and supply contracts for 105.5 million [COVID-19 vaccine] doses to be delivered this year ... putting us ahead of our target for vaccine supplies."
The vaccines, he said, will be administered at the rate of 10 million doses per month