Asia
Russian drone hits Chinese ship off Ukraine before Putin visits Xi Jinping
What are Russia's gains from the Iran war? 'We are not losers; we are winners' Russian drones have hit two ships in the Black Sea approaching ports in Ukraine's Odesa region, including a Chinese-owned cargo vessel, one day before Russian President Vladimir Putin heads to Beijing to meet Xi Jinping. Ukraine's seaports authority said the strikes hit two civilian vessels on Monday, one under a Marshall Islands flag and the other under Guinea-Bissau's flag, both of which were heading to ports in the region. It posted a photograph of the ship showing its name with one of its sides partially charred. Russia has regularly attacked civilian vessels in the port area of Odesa, a vital maritime hub for Ukrainian agricultural exports, since it invaded Ukraine four years ago . Monday's attack comes just before Putin's two-day trip to Beijing, where he is to have talks with Chinese President Xi.
Mali drone strikes kill at least 10 civilians at wedding
Drone strikes by Mali's army have killed at least 10 civilians as they prepared to celebrate a wedding in the central region of San in another escalation of the conflict since armed groups launched a widespread coordinated assault late last month. The strikes on Sunday occurred during a security crisis after attacks on the military government's positions last month by fighters from the al-Qaeda-linked Jama'at Nusrat al-Islam wal-Muslimin (JNIM) and Tuareg separatists known as the Azawad Liberation Front (FLA). "What was supposed to be a moment of joy in the village turned into immense sorrow," he said, speaking on condition of anonymity. "The tragedy occurred as the villagers were preparing the second edition of this traditional collective wedding, a major cultural event for this community," a security source who requested anonymity for safety reasons told AFP. The strikes targeted "a procession of motorbikes following one another", he added.
Japanese firms post AI-driven rosy profits, but Iran woes remain
ANA President and CEO Koji Shibata speaks during a news conference in Tokyo on April 30. Many major Japanese companies, namely electronics makers, enjoyed rosy earnings in the year ended in March thanks to significant artificial intelligence-linked investment worldwide, but they are looking ahead with caution amid high costs for fuel and materials spurred by the war in Iran. Chipmaker Kioxia saw its group net profit double from the previous year to an all-time high of ¥554.4 billion ($3.48 billion). President and CEO Hiroo Ota described the financial performance as a "historic feat." Kioxia benefited from rising demand for memory chips amid a rush to build more data centers due to the growing use of AI.
Japan's startup story is just beginning, venture capitalist says
Japan's startup story is just beginning, venture capitalist says Japan's startup moment may soon arrive given significant government support, the rise of corporate venture capital and a changing mindset about internationalization, according to Anis Uzzaman, founder and CEO of Pegasus Tech Ventures. "Overall, I would say Japan is now at a turning point," Uzzaman said. San Jose, California's Pegasus Tech Ventures has invested in a number of major U.S. tech companies, including SpaceX, Airbnb and Robinhood, and also in major artificial intelligence companies, such as OpenAI and Anthropic. In a time of both misinformation and too much information, quality journalism is more crucial than ever. By subscribing, you can help us get the story right.
Thailand plans reform of up to 7,000 business rules to tempt foreign investment
Thailand risks losing ground to regional rivals such as Vietnam and Indonesia, which have moved more aggressively to streamline regulatory regimes and court foreign capital. Thai Prime Minister Anutin Charnvirakul's government plans a sweeping reform of more than 7,000 business regulations, aiming to cut bureaucratic hurdles and accelerate investment as it tries to compete for global capital. The planned rollback of ministerial rules and secondary regulations, many of which have accumulated into a significant burden on companies, marks a concerted push to reposition Thailand as a more competitive destination for multinational firms reconfiguring supply chains. The effort was detailed in a government statement Monday and comes as Thailand risks losing ground to regional rivals such as Vietnam and Indonesia, which have moved more aggressively to streamline regulatory regimes and court foreign capital. "Regulations intended to guide have, in practice, become costs," said government spokeswoman Rachada Dhnadirek.
Recruit shares jump most on record on stronger-than-projected growth
The building that houses Recruit Holdings' headquarters in Tokyo. Investors have shown confidence in Recruit's HR Technology unit, where Indeed is leveraging AI to improve matching and raising average revenue from each job posting even as hiring demand remains soft. Recruit Holdings shares climbed the most on record after the Japanese owner of Indeed.com The stock jumped as much as 19%, its biggest intraday increase since the company went public in 2014, even as the Topix index fell, after issuing an outlook for ¥787 billion ($5 billion) in operating profit on ¥4 trillion in sales for the fiscal year to March 2027. That exceeds analysts' average projection for ¥723 billion and ¥3.9 trillion, respectively.
Kioxia shares awash in buy orders after AI-driven profit surge
Shares are up more than 300% this year for the Tokyo-based company. Kioxia Holdings' shares were untraded in a glut of buy orders Monday morning after the supplier of storage for artificial intelligence data centers reported soaring profit and gave an outlook that trounced expectations. The Tokyo-based company said it expects to earn an operating profit of ¥1.3 trillion ($8.2 billion) during the June quarter, above the record profit it earned for the full year ended March. Its quarterly profit also surged past expectations, surpassing that of Toyota's, making Kioxia one of Japan's most profitable businesses. Kioxia's shares are up more than 300% this year.
Cuba says U.S. fabricating pretext for conflict after report on drone purchase
Cuba says U.S. fabricating pretext for conflict after report on drone purchase Cuba's Foreign Minister Bruno Rodriguez speaks during a news conference in Havana in October 2025. HAVANA - Cuban Foreign Minister Bruno Rodriguez accused the U.S. on Sunday of fabricating a fraudulent case to justify economic sanctions and potential military intervention. The minister's comments followed a report by Axios the same day citing classified intelligence, which said Cuba had acquired more than 300 military drones. Cuba neither threatens nor desires war, Rodriguez said in a post on social media, adding that the country prepares itself to confront external aggression in the exercise of the right to legitimate self-defense recognized by the U.N. Charter. In a time of both misinformation and too much information, quality journalism is more crucial than ever.
U.S. and Iran far from Hormuz deal as Trump says clock is ticking
U.S. and Iran far from Hormuz deal as Trump says clock is ticking A ship remains anchored in the Strait of Hormuz near Larak Island, Iran, on Saturday. The U.S. and Iran remained far apart Sunday on a deal to end weeks of war and reopen the crucial Strait of Hormuz, as a drone attack sparked a fire at a United Arab Emirates nuclear plant, spotlighting the risks of a fragile ceasefire. U.S. President Donald Trump made clear his patience is wearing thin, posting on social media Sunday that For Iran, the Clock is Ticking, and they better get moving, FAST, or there won't be anything left of them. TIME IS OF THE ESSENCE!" Iran's semiofficial Fars news agency said the U.S. had set five main conditions for a peace deal, including the removal of uranium used by Iran's nuclear program to the U.S.; no U.S. reparations to Tehran and the unfreezing of less than a quarter of Iran's suspended assets. Fars didn't give a source for the information, and the U.S. hasn't publicly commented on such stipulations.