Nine months after its last rate hike, it’s decision time again for the Bank of Japan, the Wall Street Journal reported. On policymakers’ minds: persistent inflation, the worrying impact of U.S. tariffs, and shifts in domestic politics. At a two-day meeting ending Thursday, which comes on the heels of President Trump’s first summit with Japan’s new prime minister, Sanae Takaichi, the central bank will mull rate-hike options and release fresh economic projections.
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Nidec, already mired in a deepening accounting crisis, now faces the risk of being delisted after the Tokyo Stock Exchange said on Monday that it will apply special oversight to the company, Bloomberg News reported. The manufacturer of precision motors has been designated as a "security on special alert," starting Tuesday, the TSE said in a statement. That kicks off a potentially yearslong process in which Nidec must show an internal management system that’s adequately developed and implemented. If the exchange sees no improvement after follow-up periods, the firm may be delisted.
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South Korea's central bank has sounded the alarm on won-denominated stablecoins, warning private issuers lack the institutional trust required to maintain stable currency and urging traditional banks to take the lead instead, Decrypt.com reported. The Bank of Korea (BOK) released a report Monday outlining major risks associated with won-pegged stablecoins, comparing them to historical currency failures from America's mid-19th-century free-banking era to Korea's own Dangbaekjeon crisis under King Gojong.
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The Bengaluru bench of the National Company Law Tribunal (NCLT) dismissed Byju’s parent Think and Learn’s plea for an interim stay aimed at stopping Aakash Educational Services from holding its extraordinary general meeting (EGM) to approve a rights issue on October 29, the Economic Times of India reported. Counsel for Think & Learn argued that the proposed rights issue would reduce its stake in the coaching centre operator from 25.75% to around 5%, since the company, currently under insolvency, cannot participate in the issuance of new shares.
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The United States and Thailand on Sunday announced a framework for reciprocal trade that would see the U.S. maintain a 19% tariff on Thai products while identifying products where tariffs could potentially be adjusted or cut to zero, Reuters reported. Thailand would in turn eliminate tariff barriers on approximately 99% of goods, covering a full range of U.S. industrial and food and agricultural products, the two countries said in a joint statement issued by the White House. Thailand is also committed to addressing barriers to U.S. exports, including the acceptance of U.S.
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On July 22, Ryosei Akazawa, then Japan’s minister in charge of tariff negotiations with the United States, was sitting across from President Trump in the Oval Office. Mr. Trump, deploying a familiar negotiating style, began crossing out numbers on a placemat-size visual aid. After eight trips to Washington, Mr. Akazawa had worked out the outline of a plan with Mr. Trump’s trade officials. But in the final meeting, the president upped the ante. Mr. Akazawa went along with the new demands. Japan walked away with lower-than-threatened tariffs.
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North Korea has stolen $2.84 billion in crypto since January 2024, according to a new report from the Multilateral Sanctions Monitoring Team, Decrypt.com reported. Responsible for monitoring the violation of UN sanctions against the Democratic People's Republic of Korea, the MSMT also found that the DPRK stole “at least” $1.65 billion between January and September of this year.
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