INTERNATIONAL NEWS From Around the World

Asahi Shimbun (Japan)

  • Japan had a trade deficit in March due to a weak Yen and expensive oil.

  • Lumber prices soar in Japan because Japanese builders shun Russian wood.

  • Japanese tours to Hawaii will resume because of lessening Covid travel restrictions.  Hawaii has been a popular destination for Japanese tourists and honeymooners for many years.

  • Toyota will launch its first electric SUV in early May.

  • There is a new motorsports complex at the foot of Mt. Fuji.

 

  The Korea Times (South Korea)

  • Korean food companies are paying close attention to a move by Indonesia to stop exports of its palm oil as this could further raise prices of instant noodles, snacks and other processed foods.  This could affect other countries in the region as well.

  • LG Chemical developed advanced flame retardant plastic for electric vehicle battery packs.

  • LG Electronics developed a robot lawn mower.

  • A study by the Korean International Trade Association notes China`s role as a go-to source of production due to rising labor costs.   Multinational firms are increasingly pressured to move production out of China to Taiwan, Malaysia and Indonesia.  Many major Korean manufacturers have already done so.

  • POSCO, South Korea`s largest steelmaker, broke ground on a new electric steel plant in Gwangyang, South Korea.  Electric steel is used in electric motors to increase efficiency.  In particular, non-oriented electrical steel can reduce power loss for motors and is used in automobiles and home appliances.  

  • HLB (South Korea) has tested a hydrogen-powered ship called Bluebird.

 

Taiwan News (Taiwan)

  • A Taiwanese man is now fighting for Ukraine`s foreign legion.

  • Taiwan has developed a new drone, which can destroy every missile and radar base and a decoy version, which can jam every radar. 

 

Buenos Aires Times (Argentina) 

Thousands of farmers descended on Buenos Aires to protest the tax burden on the agricultural sector.  According to FADA, a foundation financed by the ag sector, 64.9% of agricultural producers’ income goes to taxes, most of it from export duties, popularly known as "retenciones."  The Economy Minister is also eyeing a new tax on companies that have a profit of 1 billion pesos (US 8.5 million) and whose profits have "increased significantly."

 

Deutsche Welle (Germany)

  • The EU and India agreed to deepen trade and tech ties.

  • Countries in the Middle East and North Africa depend on food from Ukraine. In addition, Ukraine accounts for 36% of cereal imports and 16% of oilseeds imported by the EU.  In turn, the EU exported more than 3 billion EUROS worth of processed foods to Ukraine in 2021.

 

Straits Times (Singapore)

  • Some Singapore companies will require their staff to return to the workplace several times a week after the government announced that all workers may return to their workplaces beginning on April 26 as a part of easing Covid 19 measures.

  • Indonesia`s Anak Krakatoa volcano erupted, spewing a huge ash tower.  

Asia Today International (Australia)

India is likely to overtake Japan as Asia's second-largest economy by 2030 when its GDP is also projected to surpass that of Germany and the UK to rank as the world's No.3. Currently, India is the sixth-largest economy, behind the US, China, Japan, Germany and the UK.

 

Asahi Shimbun (Japan)

  • ANA Holdings Inc. (Japan) reached an agreement with Joby Aviation (US) to build electric flying transport vehicles for EXPO 2025 in Osaka.

  • Taiwan Semiconductor Manufacturing Company (TSMC) and Sony are expanding the size of their planned semiconductor plant in Japan with an additional investment of US$ 1.6. billion.  Additionally, Denso (Japan) is also taking a 10% ownership share in the venture.

  • Toyota is expanding production of electric car parts at plants in West Virginia and Tennessee.

  • Ispace Inc. (Japan) announced that its unmanned lunar lander will be launched at the end of 2022 in the US.  

 

The Korea Times (South Korea)

  • The Korean government approved Korean Air’s takeover of Asiana Airlines.

  • Hyundai Steel shut down their key Chinese steel plant because of lagging sales.

  • Samsung, LG, Coupang and other Korean companies are rushing to hire lobbyists in the US.

  • South Korea’s Minister of Trade, Industry and Energy visited Indonesia in order to strengthen cooperation between the two countries.

 

Buenos Aires Times (Argentina)

  • Argentine court blocked offshore oil exploration project off the coast of Buenos Aires Province.

  • Argentina has signed a "Belt and Road" agreement with China to increase business cooperation between the 2 countries.

 

Taiwan News (Taiwan)

  • China warns US not to include Taiwan in its Indo-Pacific strategic plans.

  • The Taiwan Ministry of Foreign Affairs has pledged to continue cooperating with the US to uphold peace and stability in the Indo-Pacific region.

 

Deutsche Welle (Germany)   

  • EU leaders aim to strengthen ties with Africa as Chinese and Russian influence expands there.

  • Indonesia has ordered 42 Rafale jet fighters from France as Indonesia and France continue to strengthen military relations.

  • VW is spending billions to boost its software capabilities.

  • Belgium is now offering employees the opportunity to have a four-day work week. 

  • India is expected to launch a digital version of its currency, the Rupee.

 

Straits Times (Singapore)

  • Technology salaries increase in Singapore as US and Chinese companies compete with Singapore talent.

  • Porsche’s and Bentley’s lost at sea when a larger freighter caught on fire may cost VW $208 million.