China‘s ride-hailing giant Didi Chuxing has raised over $4 billion in its latest round of funding, the company said on Thursday, posing a challenge to its U.S. rival Uber in its efforts to branch out overseas. The latest investment values Didi at over $50 billion, according to Reuters, and equips it with the cash needed […]

When it comes to territorial disputes in Asia, the South China Sea typically commands the bulk of attention. But the East China Sea, a lesser-known hotbed of tensions, might be more likely to trigger an international conflict. “Despite the lower profile, the dispute in the East China Sea may carry greater risk of drawing the […]

The Bank of Japan said Thursday it is holding its monetary policy steady. The central bank said it is maintaining its short-term interest rate at minus 0.1 percent and the target for the 10-year government bond yield at zero percent. BOJ Governor Haruhiko Kuroda will hold a news conference at 3:30 p.m. local time (0630 […]

South Korean troops reportedly fired warning shots as North Korean troops searched for a suspected defector along the heavily-militarized ceasefire line between the two countries, Reuters reported Thursday, citing South Korea’s Yonhap news agency. In mid-November, a soldier from the North was shot multiple times after running across the demilitarized zone that separates North and […]

U.S. stocks closed mostly flat after a comprehensive tax bill was passed stateside ahead of Asia’s Thursday trading day. Meanwhile, investors in Asia awaited the Bank of Japan’s monetary policy decision later in the day for clues on future policy. Stateside, House Republicans voted for a second time to pass a tax plan on Wednesday, […]

South Korea’s army is preparing a special unit that would use drone swarms in combat, and it is expected to become operational next year and could target the North’s missile, nuclear and other military activities. Experts say the small weaponized drones could potentially fly into North Korea to attack rocket launchers, radar installations or communications […]

China hit back at the U.S. after it branded the East Asian giant a competitor, accusing it of distorting the country’s intentions and adopting a “Cold War” mentality. Urging cooperation between the world’s two largest economies, Chinese foreign ministry spokeswoman Hua Chunying said at a scheduled press conference Tuesday afternoon that the U.S. and China […]

Saudi Arabia‘s 2018 budget may be its largest ever but the government must focus on the quality of spending, not just the quantity, according to experts. The Kingdom is prepared to increase spending to record levels next year — 978 billion riyals ($261 billion) — as it looks to diversify its economy away from energy […]

The millions of Chinese nationals who travel across the world carry enormous clout. Investors in South Korea just got another painful reminder. Stocks in South Korea sensitive to developments with neighbor China fell Wednesday, lagging the benchmark Kospi index, which was mostly flat at 11:25 a.m. HK/SIN. Those so-called THAAD-related stocks—named after the anti-missile system—include […]

Islamic finance has traditionally been dominated by Muslim-majority countries in the Middle East and Southeast Asia. Now much of the rest of the world is getting in on it. Buoyed by the perception of more tranquil market conditions and an improving regulatory backdrop, issuance of Islamic debt by non-Muslim countries is set to climb to […]