"It is definitely time that we begin a process, a methodical process, of bringing rates down," Harker said. (Photo by Yuta Saito)
Interview

Fed's Harker sees possible '2 to 3' rate cuts ahead this year

Philadelphia bank chief open to faster pace of easing than in June outlook based on current data

24 August 2024
Fed Chair Jerome Powell is speaking at the Jackson Lake Lodge in Wyoming's Grand Teton National Park to a gathering of global central bankers and economists.
Economy

Fed's Powell says 'time has come' for U.S. to cut interest rates

Jackson Hole remarks as close as he is likely to come to declaring victory over inflation

24 August 2024
Demand for machine tools has been strong in China and North America, but has sputtered in Europe and Japan. (Photo by Takuro Hosoda)
Business trends

Japan machine tool orders rise in July on Chinese demand

Exports buoyed by Beijing's subsidies, offsetting weak home market

23 August 2024
Oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia, in June 2023. Figures from the Middle East suggest Shanghai Petrochem now sources 10% of its crude from Russia.
Commodities

Shanghai Petrochem reveals more Russia oil buying as Li Qiang visits

Executive stresses 'price' is key; Chinese premier cements economic ties with Putin

22 August 2024
A Russian-owned oil tanker. An Indian refiner says the country's "requirement for Russian oil is going to go up as long as there are no further tightening of sanctions."
Trade

India surpasses China to become Russia's top oil buyer in July

Russian crude makes up a record 44% of India's overall imports

22 August 2024
Xi Jinping is determined not to be caught off guard by the policies of whoever wins the U.S. presidential election in November, Democrat Kamala Harris or Republican Donald Trump. (Nikkei montage/Source photos by Yusuke Hinata and Getty Images)
China up close

Analysis: U.S. election could dictate Xi Jinping's political schedule

Bitter lesson from 2016 Clinton-Trump race reverberates through Beijing

22 August 2024
The Fuqing Nuclear Power Plant in China's Fujian province. China has built 39 reactors over the past decade. (Fuqing Nuclear Power Plant)
Energy

China and Russia drive global nuclear power capacity to record high

With as many reactors as France, China is building more while pursuing new tech

22 August 2024
BYD cars are unloaded at a port in Germany: Chinese EVs will be subject to additional tariffs, on top of an existing 10% duty, once an anti-subsidy investigation is finalized on Oct. 30. 
Trade war

China probes dairy imports following EU's EV probe update

Tariffs on Chinese brands slightly adjusted in Europe's latest decision

21 August 2024
Tesla Model 3 vehicles at its factory in Shanghai, China.
Electric vehicles

EU slashes planned tariff on Tesla's China-made EVs to 9%

New reduced rate is set lower than the 20.8% it had indicated in July

20 August 2024
Attendees at the latest Financial Working Group pose for a photo in Shanghai. (People's Bank of China)
Economy

U.S., China agree to work more closely in times of financial stress

The fifth Financial Working Group meeting concluded as trade tensions rise

20 August 2024
U.S. Vice President and Democratic presidential candidate Kamala Harris gives a speech, during an event at the Hendrick Center for Automotive Excellence in Raleigh, North Carolina, on Aug. 16.
U.S. elections 2024

Kamala Harris pledges to tackle costs, lower taxes in economy speech

Democratic presidential nominee proposes ban on 'price gouging' by grocers

17 August 2024
About 1 billion packages arrived in the U.S. duty free through the de minimis law in the first half of 2024, according to customs authorities.
Trade war

U.S. lawmakers push for clampdown on tariff-dodging Chinese imports

Proposals include tightening 'de minimis' import rules, stronger enforcement

17 August 2024
U.S. stocks rose in the morning of Aug. 15 on reports of strong retail sales.
Markets

U.S. indexes end higher as retail sales soothe slowdown fears

Nasdaq gains more than 2%, with S&P 500 and Dow also rising

16 August 2024
A policeman stands guard in front of  the headquarters of the ruling Liberal Democratic Party in Tokyo. The LDP will select a new leader next month.
Japan’s leadership race

Japan's ruling LDP to vote on Kishida successor: 5 things to know

With prime minister stepping down, how will party select his replacement?

15 August 2024
Food prices gained 0.2% in July, matching June's rise.
Economy

U.S. consumer prices rise moderately; annual increase slows to below 3%

Expectations of Fed rate cut strength on downward inflation trend

14 August 2024
Amid surging labor demand in an AI boom, Vietnam aims to train at least 50,000 chip engineers and designers by 2030 as industry giants look to offset severe staff shortages in their home markets. (Illustration by Yoshiko Kawano)
The Big Story

Vietnam turns chip sector magnet with affordable, quality talent pool

US, Taiwan, South Korean players beat path to Vietnam though boom strains resources

14 August 2024
Net profit is expected to fall 1% this fiscal year for companies on the Tokyo Stock Exchange's Prime market. (Photo by Mizuho Miyazaki)
Business trends

Japan Inc. projects 1% net profit dip on yen uptick and U.S. worries

Outlook for fiscal year improves slightly, but slump continues in autos and steel

14 August 2024
France's TotalEnergies sold its stake in a network of 800 fueling stations in Pakistan.
Business trends

TotalEnergies' Pakistan exit stirs company exodus fears

French energy major latest Western multinational to quit crisis-hit Asian nation

13 August 2024
Singapore's economy grew 2.9% in the April-June quarter from a year earlier. (Photo by Ken Kobayashi)
Economy

Singapore upgrades full-year GDP growth forecast to 2-3%

Trade ministry says manufacturing sector will recover gradually in second half

13 August 2024
The dollar is coming down from a prolonged period of strength, boosting Asian currencies. (Photo by Akira Kodaka)
Currencies

Ringgit, baht gain against dollar on speculation of U.S. rate cut

Asian central banks seen weighing own moves as inflationary pressures ease

13 August 2024
Though the majority of Asian countries did not join in the West's sanctions against Russian oil, they are expected to abide by them.
Opinion

'Dark fleet' of oil tankers risk more maritime disasters in Asia

The West needs to bring Russian oil shipping out of the shadows

12 August 2024
According to the International Monetary Fund, as of March 2024, the total balance of global foreign reserves stood at $12.3499 trillion, with the dollar accounting for 58.9% based on currency allocation.
Currencies

Central banks dump dollars and yuan in favor of gold

The 'stateless currency' shines as a haven amid geopolitical tension

10 August 2024
An electric vehicle from China's Dongfeng Motor. The European Union has imposed provisional tariffs of up to 37.6% on EVs made in China, saying they unfairly benefit from government subsidies.
Electric vehicles

China files WTO complaint against EU over tariffs on EVs

Beijing says it will 'safeguard the development rights and interests' of industry

9 August 2024
The head of Turkey's presidential investment office, Burak Daglioglu, speaks to Nikkei Asia in Istanbul. (Photo by Kana Watanabe)
Interview

Turkey expects more investments from Chinese EV makers

BYD's $1bn decision gives other companies 'comfort,' says investment office head

8 August 2024