ASEAN News

TAIPEI: The economy ministry announced on Monday that Taiwan will hike power costs by an average of 8.4% on July 1 (Friday), in response to rising global energy prices, including a 15% rise for major industrial customers. However, following a review of power pricing, the ministry stated that costs will not rise for 97 percent of homes. The government has …

BEIJING: Since the weekend, heavy rains have pounded more than ten cities in Shandong Province, flooding streets, delaying traffic, and reigniting requests for better drainage in built-up regions where concrete and asphalt retain water. A video posted to the social networking site Weibo showed automobiles in the northeastern province of China trapped in waist-deep water as the weather bureau issued …

YOKOHAMA: As the sweltering summer heat continues to hammer Tokyo, the Japanese government issued a warning on Sunday (June 26) that electric power supplies in the Tokyo area would be stretched on Monday. According to Ministry of Economy, Trade and Industry projections, excess production capacity in Tokyo and eight adjacent prefectures in eastern Japan would drop as low as 3.7 …

YAMAGATA: Increasing the amount of rice in his cattle feed is a way for Japanese farmer Kiyoharu Hirao to save money as the cost of imported maize used in animal feed continues to rise. Concerns over the quality of his prized wagyu beef and anger at the ruling Liberal Democratic Party (LDP), which once maintained an almost unbreakable grip on …

TOKYO: Asian stocks rose on Monday, after Wall Street’s strong bounce at the close of last week, as oil prices fell, easing concerns about inflation and the Federal Reserve’s fast tightening. With interest rates expected to rise and a possible recession looming, investors kept a close eye on the yields on Treasuries and the dollar, which stayed at its lowest …

SINGAPORE: A statement from Hong Kong’s Jumbo Floating Restaurant’s parent business on Sunday stated that it will not get any insurance compensation for the loss of the vessel (Jun 26). According to Aberdeen Restaurant Enterprises, in compliance with maritime rules, the vessel has a ‘Protection and Indemnity Cover for Third Parties Liability’ losses to third parties, not to the business, …

TAIPEI: The American Chamber of Commerce in Taiwan urged the United States to “urgently” begin negotiations with Taiwan on a free trade agreement with the goal of presenting a final text for passage in 2024, according to its annual policy paper issued on Wednesday (Jun 22). As a significant display of solidarity for the Chinese-claimed island in the face of …

NORTH KOREA: On Wednesday, North Korean leader Kim Jong Un presided over the second day of the country’s key party conference on its military and defense programs, according to state media reports on Thursday, amid fears of an impending nuclear test. Kim emphasized the necessity of measures to boost frontline unit operational capabilities during their meeting, according to Korea Central …

TOKYO: There is a crowdfunding drive underway in Japan to help preserve a rare patch of woodland: the forest that served as inspiration for the “My Neighbor Totoro” animation. A municipal official told AFP that just a tiny amount of the 2.6 billion yen (US$19 million) price tag for the 3.5-hectare Totoro Forest would be raised via crowdsourcing. As a …

The Ministry of Economy, Trade, and Industry (METI) said on Tuesday that Japan and the UAE had confirmed their partnership in the energy sector. “To address efforts to promote stability in the global crude oil market, METI Minister Hagiuda Koichi conducted a video conference with Suhail Mohamed Al Mazrouei, UAE’s Minister of Energy and Infrastructure. The two ministers also talked …