TOKYO: Japanese authorities are relying heavily on psychological tactics to fight yen bears, which means keeping markets guessing about their foreign exchange intervention rather than overt attempts to arrest the currency’s decline to multi-decade lows. The battered yen has whipsawed in recent weeks, which analysts and traders attribute to governmentContinue Reading
TAIPEI: Taiwan is working to increase energy inventories in a move to boost the island’s resilience in the event of a crisis, a deputy economy minister said, as China stepped up military pressure to try to force Taiwan to accept Chinese rule. China’s blockade drills around Taiwan in August afterContinue Reading
Lenders to the office tower appointed receiver Alvarez and Marsal in September to seize the asset, filings at Hong Kong’s Companies Registry and Land Registry showed, as the world’s most indebted developer struggles to emerge from its debt crisis. The tower had been pledged for a HK$7.6 billion loan fromContinue Reading
JAKARTA: Indonesia’s central bank raised its policy rates by 50 basis points on Thursday (Oct 20), for the second month in a row, as it sought to curb rising inflation, while trying to slow capital outflows that have weighed on the rupiah. Bank Indonesia (BI) hiked the benchmark seven-day reverseContinue Reading
SEOUL: Shares of South Korea’s Kakao Corp plunged on Monday (Oct 17) after a widespread outage in the country’s largest mobile chat app triggered a sharp political backlash and calls for increased scrutiny of the company’s market dominance. The outage was caused by a fire at a data centre south ofContinue Reading
SEOUL: Shares in South Korea’s Kakao plunged more than 9 per cent on Monday (Oct 17) after a fire at a data centre south of Seoul damaged servers on the weekend, causing an extensive service outage in the country’s main chat app. The outage of the chat app, predominantly usedContinue Reading
SEOUL: A fire at a suburban data centre south of Seoul damaged servers of South Korea’s major tech companies, Kakao and Naver on Saturday (Oct 15), causing extensive disruption to the country’s dominant messenger service and Internet portal. The fire at SK C&C on Saturday afternoon affected the operations ofContinue Reading
TAIPEI: Taiwan’s economy minister has drummed up new business worth T$30 billion (US$940 million) in meetings with top executives at four major tech firms in California’s Silicon Valley, the ministry said on Saturday (Oct 15). Wang Mei-hua has been in the United States all week to respond to what herContinue Reading
TOKYO: Japan stands ready to take appropriate steps against excess volatility in the foreign exchange market and is watching currency movements with a great sense of urgency, top government spokesman Hirokazu Matsuno said on Thursday (Oct 13). Japanese authorities stepped into the foreign exchange market last month, selling the dollarContinue Reading
Once a storied conglomerate, Toshiba has been weakened by accounting and governance scandals. Attempts to turn itself around have been overshadowed in recent years by discord between management and its many activist shareholders. The consortium will put up about 1 trillion yen in equity, with the rest likely to comeContinue Reading