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Cairo’s ambitious monorail reaches for China scale but lacks commuters
Economy

Cairo’s ambitious monorail reaches for China scale but lacks commuters

The Cairo Monorail passes one of the largest mosques in Egypt. The elevated route is designed to carry commuters and others to and from an ambitious new capital being built in the desert. (Photo by Yuta Koga) CAIRO -- Egypt has started operating part of what is set to become the world's second-longest single-route monorail line after one in China, designed to whisk commuters and tourists across nearly 57 kilometers of elevated track linking Cairo to a lavish new capital being built in the desert.

China’s role as ‘swing importer’ cushions oil market spike
Economy

China’s role as ‘swing importer’ cushions oil market spike

Ability to cut imports mitigates loss of supply due to Hormuz closure An oil tanker docks at a terminal off Waidiao island in China's Zhejiang province. (China Daily via Reuters) TOKYO -- The U.S.-Iran military conflict was expected to send crude oil prices soaring due to the disruption of tanker traffic through the Strait of Hormuz. Instead, China's efforts to rebalance its demand has kept price increases in check.

Casio finds new cash cow in once maligned ‘cheap’ watches
Economy

Casio finds new cash cow in once maligned ‘cheap’ watches

G-Shock maker to invest in growth with reserves to close gap with rivals The popularity of the Casio Watch series, featuring simple and retro designs, has helped boost Casio Computer's share price. (Casio) TOKYO -- Casio Computer's share price is picking up momentum on strong demand for inexpensive but well-designed products in its Casio Watch series, as its G-Shock lineup suffers slumping sales in China.

ASEAN ministers meeting, Indonesia rates decision, South Korea GDP
Economy

ASEAN ministers meeting, Indonesia rates decision, South Korea GDP

Your weekly lineup of Asia's biggest business and political events ASEAN foreign ministers will head to Manila for a series of meetings beginning July 21. © Getty Images ASEAN foreign ministers gathering in Manila from Tuesday are expected to be joined by their counterparts from the U.S., China, Russia, Japan, Australia, Canada and the U.K. The ongoing civil war in Myanmar is expected to be one of the main items on the agenda, following an informal meeting between Myanmar Foreign Minister Tin Maung Swe and the ASEAN foreign ministers in Bangkok on July 12. The weakness of the rupiah and the vulnerability of the Indonesian economy are in focus due to Bank Indonesia's upcoming rates decision, with the central bank indicating it might continue with rate hikes. Foreign capital outflows from the country's stock market and volatile energy prices are partly behind the weakening currency. Get the best of our coverage of Asia and much more by following us on X, where our handle is @NikkeiAsia. We are also on Bluesky with the handle @asia.nikkei.com. Malaysia's new regional airline, AirBorneo, will make its inaugural flight to Kuala Lumpur from Kuching on Borneo.

AI can help predict the next pandemic
Economy

AI can help predict the next pandemic

Tech is learning to detect warning signs of outbreaks before hospitals sound the alarm Patients lie a makeshift treatment area outside a hospital, following the COVID-19 outbreak, in Hong Kong on March 2, 2022. © Reuters Kavitha Yarlagadda is an independent writer based in Hyderabad, India.

China’s share of global wind turbine market reaches nearly 80%
Economy

China’s share of global wind turbine market reaches nearly 80%

The adoption of wind power continues to grow around the world. (Photo obtained by Nikkei) TOKYO -- Chinese companies accounted for 79% of the wind turbines installed worldwide last year, up 6 percentage points, spurred by demand at home, as well as in other parts of Asia and Africa.

Palau opens up — carefully
Economy

Palau opens up — carefully

Traditional dancers perform in Airai village in front of a "bai," a Palauan men's meeting house. Beyond its world-renowned dive sites, the Micronesian nation is also home to a rich cultural heritage. (All photos by Mavis Teo except where indicated) Air links bring more visitors, but leaders seek to avoid mass tourism PELELIU, Palau -- On the beach at Peleliu, the damp sand is a dull shade of khaki and the sea is the color of pewter. The sun sears my skin; my energy drains. It is seriously hot here, even for a visitor who hails from tropical Singapore.

Japan seeks stronger deterrence after China submarine missile launch
Economy

Japan seeks stronger deterrence after China submarine missile launch

Security challenges could prompt calls to revisit non-nuclear stance China's launch of a ballistic missile from a nuclear submarine this month suggests its heightened offensive capabilities. (Xinhua via AP) TOKYO -- The Japanese government will look for ways to bolster the extended nuclear deterrence provided by the U.S. as part of revisions to three key security documents at the end of the year.

Japan’s ‘Silicon Island’ attracts rush of financial groups to Kyushu
Economy

Japan’s ‘Silicon Island’ attracts rush of financial groups to Kyushu

From Taiwan and Japan, investment firms and banks flock to support regional growth The startup LINK-US participates in the Kumamoto Semiconductor Venture Pitch event in February. (Photo by Shotaro Mori) FUKUOKA/KUMAMOTO, Japan -- The entry of Taiwan Semiconductor Manufacturing Co. (TSMC) into Japan's southwestern island of Kyushu has spurred a buildup of a semiconductor industry in what is known as the country's "Silicon Island," and funding from investors has followed suit.

US-Iran war highlights vulnerability of Mideast undersea cables
Economy

US-Iran war highlights vulnerability of Mideast undersea cables

Iran hints at damaging or monetizing data conduits in region with 30% of global traffic Around 500 undersea cables carry 99% of international data traffic. (NEC) DUBAI, United Arab Emirates -- In its conflict with the U.S., Iran has hinted at threats to undersea data cables in the Persian Gulf, underscoring the risks faced by infrastructure that is critical to the global digital economy.

Global release of oil reserves averted Asian economic slowdown, Japan finds
Economy

Global release of oil reserves averted Asian economic slowdown, Japan finds

IEA's 32 countries agreed to pump 400m barrels into market to ease supply shocks Asian economies were able to import crude oil from sources other than the Middle East. (Idemitsu Tanker) TOKYO -- Asian economies forestalled what could have been a sharp slowdown stemming from the Iran war, thanks largely to the coordinated release of oil reserves around the world, the Japanese government concluded in a report out Friday.

China-US container rates hit 2-year high ahead of tariff changes
Economy

China-US container rates hit 2-year high ahead of tariff changes

Companies rush to get holiday goods through customs before potential increase A cargo ship plies the waters off the coast of New York in June. (Photo by Naoki Watanabe) TOKYO -- Spot freight rates for container ships traveling from China to the U.S. have hit the highest level in nearly two years, as retailers and other businesses rush to bring in holiday season products ahead of a potential increase in tariff rates.