Economy — 1,133 insights
ASEAN flexes ‘convening power’ on South China Sea and other issues
Economy

ASEAN flexes ‘convening power’ on South China Sea and other issues

Bloc's stature as global player grows despite persistent internal weaknesses Philippine Foreign Secretary Maria Theresa Lazaro -- the current ASEAN chair and host of the bloc's foreign ministers meetings this week in Manila -- poses with some of her European counterparts after a session on July 24. © Reuters MANILA -- When ASEAN's foreign ministers met with counterparts from around the world in Manila this week, a swath of geopolitical flashpoints dominated the agenda.

July 24, 2026
Ex-wife of SK chief wins South Korean record $643m divorce settlement
Economy

Ex-wife of SK chief wins South Korean record $643m divorce settlement

Judgment comes as memory-chip gains send group's value soaring Chey Tae-won and Roh Soh-yeong were married for 37 years. © Yonhap via Kyodo SEOUL -- A South Korean appeals court on Friday ruled that SK chairman Chey Tae-won must pay 944.4 billion won ($643.9 million) to his former wife, Roh Soh-yeong, in a record divorce settlement, putting financial pressure on the tycoon who controls leading global memory chipmaker SK Hynix.

July 24, 2026
World Bank moves to phase out China loans by 2031
Economy

World Bank moves to phase out China loans by 2031

Beijing's rise from aid recipient to development financier reshapes global landscape The World Bank will cap its lending to China at less than $2 billion through 2031. (Photo by Manami Yamada) WASHINGTON -- The World Bank decided Thursday to phase out lending to China by 2031 in light of the country's economic development.

July 24, 2026
South Korea confronts ‘growth without jobs’ as chip profits surge
Economy

South Korea confronts ‘growth without jobs’ as chip profits surge

Lee Jae Myung's administration planning permanent fund to share gains from AI boom South Korean President Lee Jae Myung is going with the chairmen of Samsung Electronics and SK Hynix to San Francisco on July 24 for meetings with global tech leaders. (Nikkei montage/Source photos by Reuters) SEOUL -- South Korean President Lee Jae Myung will head to San Francisco on Friday in a bid to turn the global AI investment boom into broader economic gains at home, as surging chip profits produce few new jobs.

July 24, 2026
Japan approves plan to create second capital outside Tokyo
Economy

Japan approves plan to create second capital outside Tokyo

Osaka emerges as front-runner despite decades of corporate outflow Tourists crowd around Ebisubashi bridge in Osaka as they pose for photos on June 1. (Photo by Toshiki Sasazu) TOKYO -- Japan's parliament on Friday approved a plan to create a "second capital" capable of keeping the country running if disaster strikes Tokyo, launching an ambitious attempt to loosen the political and economic grip of the nation's dominant metropolis.

July 24, 2026
China targets Rheinmetall, Lafert and other EU firms in retaliation
Economy

China targets Rheinmetall, Lafert and other EU firms in retaliation

Move follows latest package against businesses accused of aiding Moscow China is striking back at European companies with export curbs in the wake of EU sanctions. © Reuters HONG KONG -- China on Friday imposed fresh trade curbs on more than a dozen European industrial companies in retaliation against the European Union's recent decision to sanction Chinese firms over their alleged role in supporting Russia's war effort.

July 24, 2026
Asian economies question basis for Trump’s ‘forced labor’ tariffs
Economy

Asian economies question basis for Trump’s ‘forced labor’ tariffs

Duties tied to US standards, not the legal framework in each targeted economy The latest tariffs are another example of U.S. President Donald Trump's administration injecting uncertainty into the global trade order. (Nikkei montage/Source photos by Reuters) NEW DELHI/SEOUL/SINGAPORE -- Asian governments and analysts on Friday greeted the White House's announcement of tariffs ranging from 10% to 12.5% on 60 economies with disappointment and skepticism.

July 24, 2026
Australia’s PM grapples with push for tax hike on gas exporters
Economy

Australia’s PM grapples with push for tax hike on gas exporters

Labor's triennial conference also sees adoption of gambling reform motion Prime Minister Anthony Albanese, left, incoming Labor President Kate Ellis and Australian Labor Party National Secretary Paul Erickson appear at the 50th Australian Labor Party (ALP) national convention in Adelaide, Australia, on July 23. (AAP Image/Mick Tsikas) ADELAIDE, Australia -- Senior figures in Australia's ruling Labor Party have moved to head off pressure to hike taxes on Australia's liquefied natural gas (LNG) exporters, as the party confronts a push from members during its national conference.

July 24, 2026
Bank of Japan to keep key rate unchanged at next week’s policy meeting: sources
Economy

Bank of Japan to keep key rate unchanged at next week’s policy meeting: sources

Central bank weighs upward revision of economic growth for fiscal 2026 The Bank of Japan plans to monitor the impact of the previous rate hike in June, amid Middle East tensions and inflation risks stemming from elevated oil prices. (Photo by Nanami Sato) TOKYO -- The Bank of Japan is set to hold the interest rate steady at 1% in its policy meeting scheduled for July 30 and 31, Nikkei learned on Friday.

July 24, 2026
Myanmar military clashes with rebels drop by half from peak
Economy

Myanmar military clashes with rebels drop by half from peak

Army regains footing while opposition forces struggle to maintain unity, funding Recruits to one of Myanmar's People's Defense Force groups train in Kayah state. (Sipa via AP) YANGON -- Clashes between Myanmar's military and opposition forces have fallen to the lowest level in roughly five years as the army regains its footing against divided pro-democracy fighters.

July 24, 2026
Rags-to-riches Chinese fentanyl maker carries $5m bounty on his head
Economy

Rags-to-riches Chinese fentanyl maker carries $5m bounty on his head

Chemical manufacturer Wuhan Yuancheng wrote a playbook copied by rural criminal networks The Wuhan skyline and a wanted notice for "drug kingpin" Ye Chuanfa, also known as Yip Chuen Fat. (Nikkei montage/Source photos by AP, the U.S. Drug Enforcement Administration) NEW YORK/TOKYO -- Was it defiance, or simply a lack of shame? American journalist Ben Westhoff was taken aback.

July 24, 2026
Japan flips to net importer of petrochemicals on naphtha price surge
Economy

Japan flips to net importer of petrochemicals on naphtha price surge

Importing petrochemicals instead of producing them from naphtha makes it easier to adjust procurement to meet downstream demand. (Photo by Nikkei) TOKYO -- Japanese imports of basic petrochemicals used in products such as plastics have surged, with purchases from China and South Korea becoming more economical as the Iran war disrupts supplies of crude oil-derived naphtha.

July 24, 2026