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The US needs a data strategy for the AI era, but should not copy China
Economy

The US needs a data strategy for the AI era, but should not copy China

Creating a competitive edge lies in making information usable and shareable Staff work in the data room at JD.com's headquarters in Beijing: U.S. policymakers are looking to China for clues to develop a data strategy for the AI era. © Reuters Ran Guo is J.D. candidate at Harvard Law School and an affiliated researcher at the Asia Society Policy Institute's Center for China Analysis (CCA). Lizzi C. Lee is a fellow at CCA, where she leads the economics and technology pillar.

Fujifilm breaks into top 3 digital camera makers, buoyed by female fans
Economy

Fujifilm breaks into top 3 digital camera makers, buoyed by female fans

Women customers make up 40% of high-end X camera buyers last year Fujifilm surpassed Nikon on global digital camera shipment volume last year. (Source photos by Nikkei) TOKYO -- Fujifilm has cracked the top three in digital camera shipments, an achievement that can be traced to the company's efforts to reintroduce the joy of taking quality photographs to the smartphone generation.

Malaysia’s UMNO rattles Anwar but lacks path out of coalition
Economy

Malaysia’s UMNO rattles Anwar but lacks path out of coalition

Former dominant ruling group seeks comeback ahead of general election Malaysian Deputy Prime Minister Ahmad Zahid Hamidi, center, and members of his United Malays National Organization (UMNO) call for solidarity during the party's annual assembly in Kuala Lumpur on Sept. 12. (Photo by Norman Goh) KUALA LUMPUR -- The United Malays National Organization, a political group that governed Malaysia for six decades until 2018, is seeking a comeback ahead of the next election, rattling Prime Minister Anwar Ibrahim despite being a part of his government coalition.

Tokyo Game Show sees sharp drop in China exhibitors as ties worsen
Economy

Tokyo Game Show sees sharp drop in China exhibitors as ties worsen

Mainland and Hong Kong exhibitors plunge by over 40% despite record total turnout The Tokyo Game Show gets underway in Chiba, Japan, on Sept. 17. Participation by Chinese and Hong Kong exhibitors has declined from last year amid a deterioration in Japan-China relations. (Photo by Yuki Kohara) CHIBA, Japan/HONG KONG -- The Tokyo Game Show kicked off on Thursday with a record number of exhibitors, although participation from China and Hong Kong has fallen more than 40% from last year amid worsening relations between Tokyo and Beijing.

Japan trading house lobby chief urges stronger yen despite sector windfall
Economy

Japan trading house lobby chief urges stronger yen despite sector windfall

Okafuji welcomes Berkshire Hathaway's intention to buy more trading houses' shares Masahiro Okafuji, chairman of the Japan Foreign Trade Council as well as chair and CEO of Itochu, urges a stronger yen for the good of Japan. (Photo by Shintaro Ino) TOKYO -- The Japanese yen needs to strengthen further for the good of the country, the chairman of the industrial body representing Japan's trading companies said Wednesday, despite the industry standing to benefit from a weaker currency.

UK eyes role in Vietnam infrastructure boom with $2.5bn metro financing
Economy

UK eyes role in Vietnam infrastructure boom with $2.5bn metro financing

British export credit agency plans support for Ho Chi Minh City airport rail link Ho Chi Minh City commuters skip the megacity's traffic jams by taking a new metro train line. (Lien Hoang) HO CHI MINH CITY -- UK Export Finance (UKEF), Britain's export credit agency, is planning up to $2.5 billion in financing to help Ho Chi Minh City extend its metro line to Long Thanh International Airport, Nikkei Asia has learned.

Japan Air Self-Defense Force confirms Global Hawk drone crash
Economy

Japan Air Self-Defense Force confirms Global Hawk drone crash

Investigation team dispatched to help identify cause of accident A Global Hawk unmanned reconnaissance drone is displayed at the Japan Air Self-Defense Force Misawa Air Base on Sept. 8, 2024. (Photo by Konosuke Urata) TOKYO -- The Japan Air Self-Defense Force (JASDF) confirmed Wednesday that its Global Hawk RQ-4B unmanned surveillance drone crashed following loss of ground contact, after photographs of floating debris discovered off the coast of western Japan's Tottori prefecture were identified as belonging to the aircraft.

Grab accelerates fintech expansion through acquisitions
Economy

Grab accelerates fintech expansion through acquisitions

$1.49bn Atome deal aims to grow 'nascent' consumer lending business, CEO says Grab's acquisition of buy-now-pay-later service Atome Financial is the Singaporean company's largest in financial services. (Source photos by Reuters and Advance Intelligence Group's website) SINGAPORE -- Grab is relying more heavily on acquisitions to expand its financial business, as the company expects the sector to become a key profit driver as it faces pressures on its other businesses.

Hong Kong unveils first-ever five-year plan to align goals with Beijing
Economy

Hong Kong unveils first-ever five-year plan to align goals with Beijing

Chief Executive John Lee delivers closely watched policy address, the last of his term Hong Kong Chief Executive John Lee introduces the city's first five-year plan and delivers his annual policy address at the Legislative Council on Sept. 16. © Reuters HONG KONG -- Hong Kong's Chief Executive John Lee on Wednesday unveiled the city's debut five-year plan, as policymakers in the Asian financial hub strive to align its development priorities with those of Beijing.

Can India’s data center boom create enough jobs?
Economy

Can India’s data center boom create enough jobs?

Officials hope facilities will create work in IT and manufacturing, but estimates vary India generates about 20% of the world's data but accounts only for 4% of global data center capacity, according to industry reports. Left: A Hewlett Packard Enterprise (HPE) data center inside its office building in Bengaluru, pictured in May. Right: A worker at the construction site of a Google-Adani data center in Vizag, Andhra Pradesh, India, on Aug. 3. (Nikkei montage/Source photos by Reuters) BENGALURU -- India's data center drive, backed by incentives worth billions of rupees for the likes of Google and Amazon, is not expected to directly create much employment -- a key concern amid backlash over "jobless" growth.

Japan’s MUFG Bank to finance defense industry in shift from cautious stance
Economy

Japan’s MUFG Bank to finance defense industry in shift from cautious stance

Lender to screen in line with nation's security policy; other banks expected to follow suit Japanese Defense Minister Shinjiro Koizumi. MUFG Bank's new guideline is expected to expand financing for startups and small- and midsize companies in the defense sector. (Nikkei montage/Source photos by Hazumu Urushiyama) TOKYO -- Japan's MUFG Bank will soon introduce guidelines to finance defense-related companies, Nikkei has learned, in a shift from its cautious stance as the government steps up efforts to strengthen its defense industry.

ASEAN faces uneven growth in AI era, DBS report warns
Economy

ASEAN faces uneven growth in AI era, DBS report warns

Singapore, Malaysia seen benefiting; Thailand, Indonesia may lag AI has the potential to widen economic performance gaps in ASEAN economies, according to a report from DBS, Bain and Vriens & Partners. © Reuters SINGAPORE -- Uneven growth beckons for Southeast Asia's major economies, with Singapore and Malaysia expected to gain from technology investments while Thailand and Indonesia face greater internal risks, a report released Wednesday warned.