Day: November 28, 2023

China’s C919 clears the runway for overseas suppliers, broadening market appeal despite headwinds

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Stakes are thus high for Commercial Aircraft Corporation of China (Comac), the C919’s manufacturer. To keep ahead of industrial and geopolitical changes, the company is ramping up production and driving further investment in China’s aviation supply chain through overseas partnerships. This need has become all the more urgent given the heated competition between Beijing and Washington in advanced technology. The US government has tightened exports to China of dual-use items, products which by its definitions have both commercial and military applications. China, meanwhile, has focused on self-reliance and made hefty…

Weaker yen and top-quality snow lure investors to Japan’s ski resorts

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Since buying a home in Niseko eight years ago, Tracy Lenard, a mountain guide, has watched as the quiet town in the northern island of Hokkaido transformed into Japan’s most popular international resort. Tourism activity and real estate transactions mostly stalled during the pandemic, but skiers and investors are returning for “revenge buying” on the back of a sharply weaker yen and as global warming has boosted the value of Niseko’s reliably consistent volume of high-quality powder snow. “The weak yen is exacerbating the pent-up demand,” says Lenard, an American…

Weaker yen and top-quality snow lures investors to Japan’s ski resorts

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Since buying a home in Niseko eight years ago, Tracy Lenard, a mountain guide, has watched as the quiet town in the northern island of Hokkaido transformed into Japan’s most popular international resort. Tourism activity and real estate transactions mostly stalled during the pandemic, but skiers and investors are returning for “revenge buying” on the back of a sharply weaker yen and as global warming has boosted the value of Niseko’s reliably consistent volume of high-quality powder snow. “The weak yen is exacerbating the pent-up demand,” says Lenard, an American…

Israeli Forces Kill 2 Palestinians in West Bank, Health Ministry Says

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RAMALLAH, West Bank —  Two Palestinian teenagers were killed Tuesday during Israeli army raids in the occupied West Bank, where violence has surged in tandem with the Israel-Hamas war in Gaza, the Palestinian health ministry said. According to the ministry, Amir Wahdan, 14, was killed in Tubas in the northern West Bank, where the army said troops had gone to arrest “two wanted suspects.” Witnesses told AFP that clashes broke out with young people throwing stones at Israeli army vehicles and soldiers responding with fire. According to the army, “several…

North Korean Special Economic Zone Poised for Revival With New Russia Trade

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SEOUL, South Korea —  Once a North Korean experiment in limited capitalism, the Rason Special Economic Zone appears to be the epicenter of the isolated country’s growing cooperation with Russia, experts say, including possible shipments of arms for the war in Ukraine. With apartment blocks and booming markets flooded with imported goods, the Rason SEZ, established in the 1990s on the border with China and Russia, was a dream destination for many North Koreans before tighter sanctions hit and pandemic-era border closings choked off nearly all trade and tourism, two…

Chinese navy visits Myanmar in ‘show of friendship’ following upsurge in fighting along border

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A spokesman for the ruling junta Zaw Min Tun confirmed that the two warships and a supply vessel, carrying more than 700 sailors between them, had arrived at Thilawa port on Monday ahead of “naval security exercises between Myanmar and China”, according to the Global New Light of Myanmar newspaper. He did not give further information about the exercises, but said the visit reflected the “strong friendship” between the two militaries. It is the first Chinese naval visit to the country since 2017. Could Myanmar’s military be deposed by armed…

China Wants to Strengthen Supply Chains Even as Foreign Investors Flee

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Taipei —  Beijing opposes protectionism and wants to strengthen supply chains with all countries, Premier Li Qiang said Tuesday, as a growing number of nations voice concern about how much their supply chains depend on China. In a speech opening the five-day first International Supply Chain Expo on Tuesday, Li said, “China is not only a participant and beneficiary of global industrial and supply chain cooperation, but also a firm defender and builder.” Li offered a four-point proposal including, “all parties should jointly build open and inclusive industrial and supply…

Japanese bank regulators on alert for SVB-style rate risks

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Japan’s regulators are raising pressure on regional banks to pre-empt the kind of risks that took down Silicon Valley Bank as the country prepares for its first interest rate rise in more than a decade. Even as Japan’s biggest banks churn out record profits and anticipate further gains from domestic rate increases, the country’s central bank warned in its recent Financial Stability Report that regional banks and shinkin financial co-operatives were exposed to interest rate risk after piling into long-term loans and securities. Rising rates are normally welcomed by commercial…

The Bank of Japan’s dilemma: how to raise interest rates while shielding lenders

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Japan’s regulators are ramping up pressure on regional banks to pre-empt the kind of risks that took down Silicon Valley Bank as the country prepares for its first interest rate rise in more than a decade. Even as Japan’s biggest banks churn out record profits and anticipate further gains from domestic rate increases, the country’s central bank warned in its recent Financial Stability Report that regional banks and shinkin financial…

Hong Kong stock market ‘task force’ urges push to win Middle East IPOs

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A task force set up by Hong Kong’s government to boost stock market listings and trading activity has urged the territory to focus its efforts on companies and investors in the Middle East and south-east Asia, after outreach to the US and Europe was held back by China’s strict zero-Covid policies. The recommendations, which have not previously been made public, are intended to help increase trading volumes in the Asian…