July 2, 2024, 1:21 p.m.

Bank of Japan member: Weak yen may prompt the central bank to raise interest rates early

Bank of Japan board member Seiji Adachi noted that consumer inflation could rebound faster than expected if the yen's weakness persists, prompting authorities to consider an earlier rate hike.

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Samsung Electronics' largest labor union went on strike for the first time

The largest labor union at Samsung Electronics in South Korea has decided to strike for the first time in the company's history.

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China and Nepal resumed the opening of traditional border trade points

China and Nepal resumed the opening of traditional border trade points after a lapse of four years.

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The South Korean government announced a $26 billion investment to support the semiconductor industry

Seoul - South Korean President Yoon Seok-yoon announced a record 26 trillion won (nearly S $26 billion) plan to support the country's semiconductor industry.

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Kishida: Japan and ASEAN will develop a 10-year strategic plan for the automotive industry

Japanese Prime Minister Fumio Kishida said Japan and ASEAN will develop a 10-year strategic plan to take a leading position in the next-generation automotive industry.

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1MDB is suing Saudi oil companies and others for more than $1.8 billion

A Malaysian Development Berhad (1MDB) refers to Saudi Arabian oil company Saudi International Petroleum Company and a British law firm that helped former Prime Minister Najib Razak embezzle US $1.83 billion (S $2.68 billion) of 1MDB funds.

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Vietnam's Deputy Prime Minister: The government is taking measures to solve the electricity shortage

Vietnam's Deputy Prime Minister says the government is serious about dealing with power shortages and is taking steps to avoid a repeat of last year's widespread blackouts.

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Anwar announced the implementation of targeted fuel subsidies and the removal of subsidies for the rich and foreigners

Malaysian Prime Minister Anwar Ibrahim announced the introduction of targeted fuel subsidies, starting with diesel, which are expected to save about RM4 billion (S $1.47 billion) a year.

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Competition between Chinese and Japanese car companies for investment in ASEAN is heating up

Chinese electric vehicle manufacturers have increased their investment in Southeast Asia in recent years, and Japan plans to develop its first joint vehicle production and sales strategy with ASEAN in response to competition from Chinese car companies, to help ASEAN countries strengthen the development of electric vehicles.

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16 AI giants meeting in South Korea will make new security commitments

Sixteen AI giants are meeting in Seoul, South Korea, for a global summit that will collectively make new security commitments and provide transparency and accountability for developing AI.

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