Biden and Moon align on North Korea but walk fine line on China

NEW YORK -- U.S. President Joe Biden and South Korean President Moon Jae-in showed unity regarding North Korea while papering over any differences on China when they met at the White House on Friday.

Biden said he is willing to meet Kim Jong Un if the North Korean leader makes a commitment "that there's discussions about his nuclear arsenal." The American president said he will not agree to meet if giving Kim "international recognition" is the sole outcome of such a face-to-face

Continue reading...

Moderna CEO eyes producing COVID vaccine in Asia

NEW YORK -- Moderna is considering manufacturing its coronavirus vaccine in Japan, with chief executive Stephane Bancel telling Nikkei in a phone interview, "We're having discussions in several countries in Asia, including Japan."

The news comes soon after the Japanese health ministry officially approved the manufacture and sale of the vaccines developed by Moderna and AstraZeneca on Friday.

For production in Japan, there is a possibility that Moderna will seek production contracts or license agreements with Japanese companies. Bancel said that discussions are still in the early stages


New Zealand will manage China ties in 'predictable' way: minister

TOKYO -- New Zealand's minister for trade and export growth aims to build on his country's business with its No. 1 partner, China, while reserving the right to address concerns at the appropriate time and place.

The relationship with China is "one of our most significant," Damien O'Connor stressed in an interview with Nikkei Asia on Friday, in conjunction with an appearance at Nikkei's Future of Asia conference.

He noted that New Zealand had enjoyed huge benefits from the free trade agreement


Peninsula Hotels suspends $130m Yangon project for a year

HONG KONG -- Hongkong and Shanghai Hotels, operator of the upmarket Peninsula chain, said Friday that it will suspend construction on its planned $130 million Yangon property for a year.

"Due to the unfortunate situation in Myanmar, we have agreed with our partners to temporarily suspend construction at The Peninsula Yangon for 12 months," Clement Kwok, chief executive of the Hong Kong-listed hotel operator, told shareholders gathered for their annual meeting on Friday. "We will continue to monitor the situation in Myanmar


Hong Kong blames 'gross interference' for Taiwan office closure

HONG KONG -- The Hong Kong government accused Taiwan of "grossly" interfering with its internal affairs by offering assistance to "violent protesters" seeking to flee the city, days after the financial hub closed its representative office on the island.

"In recent years, Taiwan has grossly interfered in Hong Kong's affairs on repeated occasions and created irretrievable damage to Hong Kong-Taiwan relations," a Hong Kong government spokesperson said in a statement issued on Friday afternoon, citing Taiwan's effort to help exiled activists as


Nepal's Oli wants China and India to step up with vaccines 'first'

TOKYO -- Nepal's Prime Minister K.P. Sharma Oli on Friday said his landlocked country of 30 million people urgently needs more COVID-19 vaccines and is in talks with Western countries.

Oli, however, is hoping for more doses from Nepal's giant neighbors -- China and India. "Basically, we want to get [vaccines] from our neighbors first," he said.

In an exclusive interview on the sidelines of Nikkei's annual Future of Asia conference, Oli did


Heir leading Hong Kong's Swire group to make abrupt departure for UK

HONG KONG -- The sixth-generation scion of the Swire family made a surprise announcement Friday evening, resigning as chairman of the Hong Kong-listed flagship conglomerate Swire Pacific and its key real estate arm Swire Properties.

Merlin Swire, the chairman of both companies, steps down Aug. 24 as he takes the role of chief executive at John Swire & Sons, the parent of the Swire group, based in London. He will remain a director of three Hong Kong-listed units, including Cathay Pacific Airways,


Philippine tycoon Uy's group buys Shell gas unit for up to $460m

MANILA -- Philippine tycoon Dennis Uy's Udenna conglomerate has reached a deal worth up to $460 million to buy a gas exploration and development company from Royal Dutch Shell, boosting its interest in the Malampaya gas field to 90%.

Malampaya Energy XP, a unit of holding company Udenna Corp., will acquire all of Shell Philippines Exploration, it was announced Thursday. The base price is $380 million, with Malampaya Energy paying up to an additional $80 million between 20


Xi calls for unity on fighting COVID-19 after EU deal stalls

SHANGHAI -- Chinese President Xi Jinping urged nations at a Europe-led health forum Friday to focus on fighting the COVID-19 pandemic together rather than playing politics, one day after ratification of Beijing's investment deal with the European Union stalled.

The Global Health Summit in Rome was organized by the European Commission and Italy, the current Group of 20 chair.

"We should uphold the vision of building a global health community, tiding over this trying time through solidarity and cooperation, and firmly reject any attempt


Snubbed by the West, China courts ASEAN at Belt and Road expo

CHONGQING, China -- The Belt and Road expo held in southwestern China that kicked off this week was billed as an opportunity to join "hands with the West for a bright future." The guest list featured a who's who of Western blue-chip companies invited to invest in the massive infrastructure project that is a centerpiece of Chinese President Xi Jinping's foreign policy.

The only problem, none of them showed. In response, Chinese organizers are using the expo, which held its opening ceremony on Friday