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Economy

How an Asian-majority city passed the US’ first permanent data center ban

California's Monterey Park is at the forefront of America's growing pushback to AI infrastructure Monterey Park, with a population of less than 65,000, of whom 65.6% identify as Asian, became the first city in the U.S. to put in place a permanent ban on data centers. (Photo by Yifan Yu) MONTEREY PARK, California -- Last year's holiday season turned out to be a chaotic one for Hrag Balian and his wife. The couple, who moved to Monterey Park in 2021, learned in early December that the local government was on the cusp of approving the construction of a nearly 23,000-sq.-meter data center in their city.

July 6, 2026

Economy

China’s state-directed absorption of local bank highlights debt pressure

Wuhan Z-Bank becomes latest target due to 'severe credit risks' Ding Xiangqun, the newly appointed head of the National Financial Regulatory Administration, speaks at the Lujiazui Forum 2026 in Shanghai on June 17. TOKYO -- A state-directed takeover of a small private lender in China's inland province of Hubei has underscored lingering pressures in the banking system of the world's second-largest economy.

July 6, 2026

Economy

MUFG and JCB court rich Southeast Asians with luxury card for Japan visits

Premium product to launch first in Indonesia and Thailand with dining, booking perks MUFG Bank and JCB are aiming to attract wealthy customers in Southeast Asia to spend more money in Japan. (Source photos by Akira Kodaka and Kosuke Imamura) TOKYO -- Japan's MUFG Bank and JCB are jointly targeting Southeast Asia's growing ranks of wealthy consumers with a new luxury credit card, betting that providing access to exclusive services in Japan will help them stand out in the region's increasingly competitive wealth market.

July 6, 2026

Economy

Japan’s Sapporo to invest $643m in joint venture with Carlsberg

Sapporo to take 25% stake in South Asia operation, aiming at premium market Japan's Sapporo Breweries said on July 6 that it will invest $643 million in a Singapore-based joint venture to be set up with Danish beer maker Carlsberg. (Source photos by Sae Kamae and Reuters) TOKYO -- Japan's beverage group Sapporo Breweries will invest $643 million in a joint venture with the Danish brewer Carlsberg as part of a strategic partnership in Southeast Asia and Hong Kong, the company said Monday.

July 6, 2026

Economy

Ukraine pushes civil drone drive with Japan and Taiwan

Corporate-led initiative seeks 'China-free' supply chain for postwar uses Ukrainian military personnel prep a Raybird reconnaissance drone manufactured domestically by Skyeton for deployment against Russian forces last month. © Reuters TOKYO -- The Ukrainian Chamber of Commerce in Japan on Monday touted an initiative to collaborate on civil drones and related technologies with companies in Japan, along with other like-minded partners in the region such as Taiwan, South Korea and some Southeast Asian states.

July 6, 2026

Economy

Toyota, Honda see China sales drop in 1st half as buyers shift to EVs

High oil prices stemming from Iran conflict pressure gasoline-powered autos The bZ3X SUV, an EV model sold by GAC Toyota. (Photo by Shizuka Tanabe) SHANGHAI -- Toyota Motor's sales of new vehicles in China in the January-June period fell 17% on the year, the Japanese automaker said Monday, as more consumers move to electric vehicles and other electrified models amid high crude oil prices.

July 6, 2026

Economy

Philippine Senate begins Vice President Duterte impeachment trial

Prosecution stresses case will focus on accountability in public office Philippine Sen. Alan Peter Cayetano speaks during the opening of the impeachment trial of Vice President Sara Duterte in the Senate, in Metro Manila, the Philippines, on July 6. © Reuters MANILA -- The impeachment trial of Philippine Vice President Sara Duterte on corruption and other charges began Monday, with prosecutors arguing the high-profile case was about the importance of accountability in public life.

July 6, 2026

Economy

India’s sugar industry likely to exit exports and exist for ethanol

Biofuel push, climate stress drastically reshape world's former 2nd-largest sugar exporter Workers unload sacks of sugar from trucks at the Deendayal Port in Kandla, in the western state of Gujarat, India, in April 2025. © Reuters NEW DELHI -- India's push to expand ethanol production is transforming one of the world's biggest sugar industries, with mills increasingly investing in biofuels as the country prepares for little or no exportable sugar surplus for at least the next several production seasons, according to multiple people with knowledge of industry circumstances.

July 6, 2026

Economy

Turkey takes center stage as NATO summit host

Ankara gains fans as arms producer while it strengthens ties with U.S., Europe, Asia Turkish President Recep Tayyip Erdogan attends a ceremony for the delivery of an offshore patrol vessel to NATO member Romania on June 20. NATO allies are increasingly seeking Turkish arms. (Turkish Presidency via Anadolu Agency) ISTANBUL -- This year's NATO Summit is taking place in Ankara, shining a spotlight on Turkey's rising importance as a global arms supplier and mediator in regional conflicts amid a shifting geopolitical landscape.

July 6, 2026

Economy

Industrial sector still lags on Asian representation, says Lee

LG Energy Solution executive looks at the rise of Asian Americans over 30 years Robert Lee is North America president at LG Energy Solution and previously served as the global chief strategy officer. (LG Energy Solution) Bob Lee is North America president at LG Energy Solution and previously served as the global chief strategy officer. He was the first president of L-H Battery, a joint venture between LG Energy Solution and Honda. He also served as CEO of Continental AG North America and SK Continental Emotion. Previously, Lee co-founded several technology companies and earlier in his career worked as a management consultant for Boston Consulting Group.

July 6, 2026

Economy

How Sony’s PlayStation disc phaseout resets gaming value chain

Used-game retailers face business shift as gamers seen to lose resale market Sony's PlayStation 5 game software on display at a consumer electronics retailer in Tokyo on July 3. (Photo by Ryo Sato) TOKYO -- Sony Group has announced it's game over for physical PlayStation games, marking a watershed moment for Japan's gaming industry as the move could have far-reaching consequences for consumers, retailers and game publishers.

July 6, 2026

Economy

Japan’s MinebeaMitsumi to boost bearings output for AI data centers

$360m investment in Southeast Asia to raise capacity 30% as AI demand expands beyond chips MinebeaMitsumi will build a facility within an existing manufacturing complex in either Cambodia or Thailand to expand bearings production. (Photos obtained by Nikkei) TOKYO -- MinebeaMitsumi will invest 58 billion yen ($360 million) to expand production of precision bearings used in cooling equipment and storage devices for artificial intelligence data centers, as AI-driven demand increasingly spreads beyond semiconductors to the broader electronic components sector.

July 6, 2026