International News | IB Newsmag

Asahi Shimbun – www.asahi.com JAPAN

Japan's central bank raised interest rates for the first time in 17 years. Millions of Japanese from small businesses to first time buyers are trying to adapt after many years of deflation. They have had several years of negative interest rates.
Honda and Nissan agreed to partner in developing electric vehicles.
Four Japanese companies, including shipping giant Nippon Yusen KK (NYK) are developing the first ammonia-fueled cargo ship.
Unions at several large Japanese companies, including Nippon Steel, Suzuki Motor and Mitsui Mining and Smelting won major wage hikes.
Kirin Brewery announced removal of an online advertisement featuring economist Yosuke Narita because of past extreme remarks like "the elderly should commit mass suicide."
A Japanese woman invented a portable bag that heats food and keeps it warm using electricity from a mobile battery.

The Korea Times – www.koreatimes.co.kr - SOUTH KOREA

South Korea boosted ties with Germany for energy transition to discuss sustainable supply chain for energy transition.
Hyundai Motors developed a hybrid minivan called the Staria.
Korean Air will sign a contract with Airbus to buy 33 A 350 series aircraft.
Renault Korea will invest over $1 billion for the development of a state-of-the-art hybrid vehicle.
Samsung Electronics’ first woman president won South Korea's highest industrial award for promoting the mobile phone devices.
HD Hyundai Xite Solution (HDX) that oversees several construction equipment units is expanding its presence in Africa.
Samsung and SK Hynix are locked in fierce competition to lead an AI memory chip sector.
The American Chamber of Commerce in South Korea (AMCHAM) requested the President of South Korea to ease regulations that are unique to South Korea in order to convince multinational companies to relocate their Asia Pacific headquarters to Seoul from Hong Kong and mainland China in light of growing geopolitical risks.

Business News Australia - www.businessnewsaustralia.com - AUSTRALIA

Electro Optic Systems in Canberra, a manufacturer of remote weapons systems, announced a $40 million capital raise following record revenue and operating cash flow amidst conflicts in Ukraine and the Middle East.
Two large Singapore companies, Olam Agri Holdings and Louis Dreyfuss Company Asia, are battling to acquire Australia’s largest cotton processing group - Namoi Cotton.

The Tico Times - www.ticotimes.net - COSTA RICA

Costa Rica is bracing for an above average cyclone season in 2024.
The Costa Rica coffee industry has lost millions of colones (Costa Rican currency) due to the exchange rate.
Costa Rica’s Colon soars against the US Dollar - lowest exchange rate in 14 years.
Central American countries must invest more than 250 million dollars to meet the growth of electricity demand.

London Times - www.thetimes.co.uk - UK

Tens of thousands of young people are withdrawing their applications to serve in the armed forces every year after waiting months to join.

Bangkok Post – www.bankokpost.com - THAILAND

Bangkok's status as a financial center is declining while Singapore continues to outrank Hong Kong as the top money hub in Asia.

The Straits Times - www.straitstimes.com - SINGAPORE

Buenos Aires Times - www.btimes.com.ar - ARGENTINA

Paolo Rocca, the head of a large Argentine oil pipe maker, said expectations are high that President Javier Milei can turbo-charge development of the country’s shale deposits.
Argentina has the lowest minimum wage in dollars in the region.
Argentines are buying Bitcoin to protect themselves from inflation instead of rushing to exchange pesos for dollars.
Italian energy giant, Enel SpA, is suspending the sale of subsidiary power distributor Edesur in Argentina as company executives are hopeful of President Milei’s push to deregulate the energy sector.
The US decarbonization plan has the potential to cause tectonic shifts in global agriculture markets and deal a damaging blow to Argentina's economy.