Japanese expats being sent home from Thailand as employers cut costs
Economy

Japanese expats being sent home from Thailand as employers cut costs

Recent exodus spurred by increased Chinese presence and rocky economy Isuzu is a major investor in Thailand and remains committed as other Japanese companies scale back their expatriate staff in the Southeast Asian country. (Nikkei montage/Source photos by Rie Ishii) BANGKOK/TOKYO -- Japan in recent years has dramatically reduced its expatriate presence in Thailand as it strives to remain competitive in an economy made tougher by China's growing presence, the strong baht and slow growth.

May 12, 2026
Bay of Bengal cooperation is critical amid the global crisis: BIMSTEC chief
Economy

Bay of Bengal cooperation is critical amid the global crisis: BIMSTEC chief

Seven-state bloc involving India and Thailand deepen power grid, port connectivity BIMSTEC Secretary-General Indra Mani Pandey. The veteran Indian diplomat says the Bay of Bengal bloc is gaining momentum. (Photo by Toru Takahashi) DHAKA -- Rising global geopolitical tensions underscore the need for stronger regional cooperation to address economic and security challenges, the chief of a bloc involving seven South and Southeast Asian countries said.

May 12, 2026
Meet Hiroshi Suzuki, the Japanese envoy showing Britons how to love Britain
Business

Meet Hiroshi Suzuki, the Japanese envoy showing Britons how to love Britain

‘He has made me feel more proud to be British than any politician or any figure since I was born,’ a content creator says Videos of him singing the Welsh national anthem, for example, and his valiant attempts to copy local dialects and expressions have generated an outpouring of love for him online. Many comments say Suzuki is reminding often pessimistic Britons of the nation’s achievements and rich heritage. His entertaining efforts have garnered the kind of publicity and recognition other embassies can only dream of, with a series of complimentary articles in prestigious publications. Media commentators have also taken note and written about Suzuki’s novel methods. Since his arrival in November 2024, he has managed to accrue over 220,000 social media followers and many of his videos go viral and can be found on apps popular with younger audiences.

May 12, 2026
AI disinformation? Singapore accused in pro-China videos of being ‘ungrateful’
Business

AI disinformation? Singapore accused in pro-China videos of being ‘ungrateful’

Clips on Chinese social media showing speakers disparaging the city state are likely to be deepfakes, experts say The clips, each featuring an individual in a different setting and circulating on Chinese platforms such as Douyin and WeChat, were most likely generated by artificial intelligence, according to digital experts, pointing to clues such as identical scripts. A check by This Week in Asia showed there were at least 40 such clips shared in the last month, all echoing the same content, with multiple videos garnering more than 1,000 likes each. Some videos on WeChat have been flagged by the platform for potentially being created by AI technology. Local social media users have also caught on to their existence, such as one user, who shared screenshots of the videos highlighting the matching speeches. “This is what a disinformation campaign looks like,” she wrote in a post late last month. A common theme in the videos is that Singapore has been accused of being disrespectful to China despite receiving Beijing’s support in trade. Content shared by these accounts includes videos of the same individuals speaking on different topics, including US and Chinese politics.

May 12, 2026
Kuaishou Technology may spin off King AI in bid to capture AI market frenzy
Technology

Kuaishou Technology may spin off King AI in bid to capture AI market frenzy

Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Your support helps TechNode continue to provide credible, on-the-ground journalism and industry insights about the Chinese tech industry. Chinese tech company Kuaishou Technology is considering spinning off its AI video-generation unit Kling AI for a separate initial public offering next year, according to market sources, as investor enthusiasm surrounding AI continues to fuel demand for AI-related stocks. The company has reportedly begun discussions with potential investors over a pre-IPO fundraising round for Kling AI, which is said to be valued at around $20 billion. Kuaishou has not yet commented on the matter. Launched in 2024, Kling is Kuaishou’s flagship AI model for video generation and quickly gained attention in China’s fast-growing generative AI sector. The model takes a technical approach similar to OpenAI’s Sora, while adding in-house developments, and is generally considered to perform at a comparable level. [TechWeb, in Chinese]

May 12, 2026
Panda power: Pakistan to tap China debt market with first sale of yuan-priced notes
Business

Panda power: Pakistan to tap China debt market with first sale of yuan-priced notes

Islamabad turns to ‘panda bonds’ to secure cheaper credit and diversify its borrowing into yuan-denominated funding, with a focus on sustainable development Pakistan is poised to become the latest partner in a China-centred trading network, known as the Belt and Road Initiative, to sell “panda bonds”. Islamabad seeks to raise as much as US$250 million through its first-ever sale of the bonds – yuan-denominated debt instruments sold by foreign entities in mainland China’s onshore market – as early as this week. Finance Minister Muhammad Aurangzeb confirmed on Saturday that Islamabad was preparing to access Chinese capital markets with the sale – the first tranche of a broader US$1 billion programme that Islamabad has been pursuing since at least December. The three-year bonds, focused on sustainable development, will carry guarantees from the Asian Infrastructure Investment Bank (AIIB) and the Asian Development Bank covering 95 per cent of the debt issuance, according to Bloomberg. The planned deal comes as Pakistan steps up its return to international capital markets following years of financial instability.

May 12, 2026
Chinese successors inherit younger as banks prepare for US$11 trillion wealth transfer
Markets

Chinese successors inherit younger as banks prepare for US$11 trillion wealth transfer

Asia-Pacific’s largest intergenerational wealth transfer in modern times is set to transpire over the next 30 years, financial firm predicts The region’s next-generation family members perceive this shift very differently from their counterparts in Europe and North America. In Asia-Pacific, inheritors are more likely to associate a family milestone with the passing of a family member. By contrast, in Europe and North America, inheritance is more strongly tied to a shift in responsibility. They are the inheriting generation, stepping into responsibility within their families. UBS also observed that successors were getting involved in family wealth at younger ages in Asia, especially in China. These findings come from a UBS survey of next-generation individuals ranging in age from below 21 to above 45, with the majority between 26 and 40. They represent the inheriting generation – those stepping into responsibilities within their families. While the Swiss bank defined the next generation of leaders aged between 18 and 60, 65 per cent were already engaged in managing family wealth as young adults from 20 to 35 years old.

May 12, 2026
10 injured in truck-bus crash outside Hong Kong shopping centre
Business

10 injured in truck-bus crash outside Hong Kong shopping centre

Eight passengers and two drivers hurt after truck collided with KMB double-decker bus, police say Ten people have been injured in a crash involving a truck and a bus outside a shopping centre in Hong Kong’s Kwun Tong. Police said they received a report of the crash in Sau Mau Ping at about 6.20am on Tuesday, where a truck collided with a KMB double-decker bus, leaving eight passengers and the two drivers with mild injuries. The collision occurred outside Po Tat Shopping Centre on Po Lam Road, the force said. Part of Po Lam Road towards Sau Mau Ping Road was closed but reopened at 8.18am. Photos from the scene show a white box truck overturned in the middle of the road, with a double-decker bus nearby. The bus’ front windscreen was shattered and its front door was pressed out of shape. Police said glass shards were found at the scene and a cleaning crew was called in.

May 12, 2026
‘Are you still hiring?’: K-pop king G-Dragon gifts flats to long-serving staff, sparks online buzz
Business

‘Are you still hiring?’: K-pop king G-Dragon gifts flats to long-serving staff, sparks online buzz

Known for his exceptional loyalty, the pop icon has developed a strong bond with his long-term team K-pop superstar G-Dragon’s decision to gift his long-serving staff members flats worth a combined total of hundreds of millions of won (around several hundred thousand USD) has sparked a frenzy among netizens, with some asking, “Are you still hiring?” Dubbed the “King of K-pop,” the 38-year-old singer Kwon Ji-yong, better known as G-Dragon in the entertainment industry, is one of the most popular stars in South Korea and across Asia. He is the leader of BigBang, one of the world’s bestselling boy bands. In late April, it was revealed that G-Dragon had gifted some “core members” of his Team GD flats valued at hundreds of millions of won. It is unclear how many employees received these gifts, but they reportedly include “the managers and core staffers” who have accompanied G-Dragon for 20 years, since his early days in the industry, according to the news portal 163.com. “My philosophy is: my treatment comes second – my people’s homes come first,” the K-pop icon once stated to the media. G-Dragon earned more than 65 billion won (US$44 million) from his agency, Galaxy Corporation, last year, the report indicated.

May 12, 2026
Acclaimed biologist Xu Xianzhong returns to China after arrests in his US lab
Business

Acclaimed biologist Xu Xianzhong returns to China after arrests in his US lab

Multiple investigations into Chinese researchers at the University of Michigan in recent months involved members of Xu’s laboratory Xu, a fellow of the prestigious American Association for the Advancement of Science – has joined the Shenzhen Medical Academy of Research and Translation (SMART) as a senior investigator with its Institute of Bio-Architecture and Bio-Interactions. Three researchers from Xu’s lab were arrested late last year, charged with conspiracy to smuggle biological materials into the US, with one additionally accused of making false statements to customs and border protection officers, according to the US Justice Department. In a statement in November, then attorney general Pamela Bondi said the researchers were “apparently part of a long and alarming pattern of criminal activities committed by Chinese nationals under the cover of the University of Michigan”. According to the criminal complaint, two of the researchers received multiple shipments containing “concealed biological materials related to roundworms” from China, while a third was charged with making false statements to federal agents.

May 12, 2026
How many ride-hailing permits should Hong Kong allow? That depends on who you ask
Business

How many ride-hailing permits should Hong Kong allow? That depends on who you ask

Both taxi industry leaders and Uber sound alarm over government’s latest step towards regulating service, even before final quota is decided Hong Kong taxi trade leaders and Uber have both expressed concerns over a looming quota for ride-hailing vehicles, despite transport authorities vowing to consult stakeholders before setting the final figure. It pledged to include the quota in the final gazetted document, pending lawmakers’ approval before their summer recess in mid-July. Platforms Uber, Tada, Amap, Didi Chuxing have been operating in a regulatory vacuum, a situation cabbies decry as unfair. Amap is operated by Alibaba Group Holding, which also owns the South China Morning Post. Three major taxi groups told the South China Morning Post that the quota would have far-reaching effects on the market.

May 12, 2026
Japan’s new spy agency receives FBI backing with eyes on China and Russia
Business

Japan’s new spy agency receives FBI backing with eyes on China and Russia

Japan has not had a centralised intelligence service since World War II. Sanae Takaichi wants to change that The plan, recently endorsed by the US Federal Bureau of Investigation, would transform the Cabinet Intelligence and Research Office (CIRO) into a central hub, drawing in analysts, technologists and operatives from across the government and private sector. It could be operational as early as July, pending final approval by the House of Councillors, and is expected to begin with around 700 staff, although the government anticipates that number will grow swiftly. Late last week, Kazuya Hara, head of the CIRO, travelled to Washington for talks with FBI director Kash Patel, briefing him on the agency’s planned structure and scope. Patel was effusive about the plans on social media, writing that the new body would “greatly enhance our shared partnership” and help “centralise fragmented intelligence” that had long been scattered across Japanese ministries. He further signalled Washington’s intent to support Tokyo “on cybersecurity, counter-intelligence, espionage and counterterrorism” measures.

May 12, 2026