Asia Business

Stock markets extend losses over US tariffs, recession fears

11 Mar 2025

Global stock markets extended losses on Tuesday as US President Donald Trump waffled on the size of tariffs he will levy on Canadian steel, aggravating concerns his trade policies could push the United States toward recession.In New York, the Dow index of blue-chip stocks closed down 1.1 percent while the broad-based S&P 500 shed 0.8 percent.The tech-heavy Nasdaq …

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Struggling Japanese automaker Nissan replaces CEO

11 Mar 2025

Struggling Japanese automaker Nissan announced on Tuesday that chief executive Makoto Uchida would step down, a move that follows the failure of merger talks with rival Honda.Ivan Espinosa, who will take the top job from April, told reporters he wanted to continue Uchida’s work “to help Nissan shine again”.”I sincerely believe that Nissan has so much …

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China wraps up key political meet with call for ‘unrelenting struggle’

11 Mar 2025

China on Tuesday concluded one of its biggest political events of the year with a call to “struggle unrelentingly” for the country’s rise after a conclave dominated by a deepening confrontation with the United States, its largest trading partner.Nearly 3,000 delegates congregated in Beijing’s Great Hall of the People on a dusty Tuesday afternoon before …

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South Korea’s Kia denies responsibility for anti-Musk ad

11 Mar 2025

South Korean automaker Kia told AFP on Tuesday it had not approved an advertising campaign that featured one of its electric vehicles with a bumper sticker denigrating rival Tesla owner Elon Musk.The advertisement, posted last month on the social media accounts of Kia Norway, features the company’s entry-level electric car, the EV3, with a bumper …

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Asian markets track Wall St selloff as Trump-fuelled economy fears build

11 Mar 2025

Asian markets tumbled Tuesday following a sharp sell-off on Wall Street fuelled by fears about the US economy as Donald Trump presses ahead with his global trade war and federal jobs cuts.Traders had initially welcomed his election on optimism that his promised tax cuts and deregulation would boost the world’s top economy and help equities …

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Opium farming takes root in Myanmar’s war-wracked landscape

10 Mar 2025

Scraping opium resin off a seedpod in Myanmar’s remote poppy fields, displaced farmer Aung Hla describes the narcotic crop as his only prospect in a country made barren by conflict.The 35-year-old was a rice farmer when the junta seized power in a 2021 coup, adding pro-democracy guerillas to the long-running civil conflict between the military …

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