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  • Surging West African oil exports push tanker rates higher

    TOKYO/HONG KONG -- Crude oil freight rates for tankers have bounced back. The benchmark Worldscale Index for the largest tankers is up more than 30% compared to the end of March. Strong demand for tankers taking on crude in West Africa and bound for

    April 12, 2017 04:47 pm JST
  • The internet poised to dethrone TV as ad king

    PALO ALTO, U.S. -- Television's reign as the dominant advertising medium appears near its end, as sellers increasingly reach out to consumers through mobile devices.The rise of smartphones provides a tailwind for spending on internet ads, which is e

    April 7, 2017 08:00 am JST
  • Hedge funds suffer money exodus

    TOKYO -- Once wielding powerful influence on global financial markets, hedge funds are losing customers as more investors shun their high fees amid poor returns.Hedge funds tracked by Eurekahedge saw fund outflows of $60.7 billion by the end of Febr

    April 6, 2017 09:00 am JST
  • Global debt hits $215tn in 2016, led by emerging markets -- IIF

    Global debt rose to 325 percent of the world's gross domestic product in 2016, totalling $215 trillion, an Institute for International Finance report released on Monday showed, boosted by the rapid growth of issuance in emerging markets.Global debt

    April 4, 2017 09:14 am JST
  • Nigeria pushes for investment treaty with Japan

    TOKYO -- Nigeria is working to conclude a bilateral investment treaty with Japan to draw Japanese electrical equipment and electronics makers to the West African country.Yewande Sadiku, executive secretary and CEO of the Nigerian Investment Promotio

    March 25, 2017 03:00 pm JST
  • Sinopec to buy Chevron assets in South Africa, Botswana

    BEIJING -- China Petroleum & Chemical, better known as Sinopec, will pay roughly $900 million for U.S.-based Chevron's businesses in South Africa and Botswana, the Chinese state-owned oil company says.Following the announcement Wednesday, Sinopec's

    March 24, 2017 04:00 am JST
  • Japanese team testing malaria vaccine in West Africa

    OSAKA -- Osaka University and drugmaker Nobelpharma will conduct first-round clinical trials of a promising malaria vaccine developed by the school in West Africa starting in May.A total of 153 people will take part in the tests in Burkina Faso -- a

    March 20, 2017 03:30 am JST
  • Japanese make mark in Mozambique with energy projects

    TOKYO -- Japan's public and private sectors are moving into Mozambique in force, securing contracts to build power plants and agreements to provide technical assistance and training.Trading house Sumitomo Corp. is to sign a contract with a state-run

    March 15, 2017 02:20 am JST
  • Global reality may demand Japan's presence in conflict zones

    TOKYO -- For any leader, decision-making becomes particularly wrenching when the lives of citizens hang in the balance. In this light, Prime Minister Shinzo Abe's decision to pull Ground Self-Defense Force troops from United Nations peacekeeping eff

    March 11, 2017 07:40 am JST
  • UN thanks Japan for South Sudan peacekeeping mission

    UNITED NATIONS -- The United Nations expressed appreciation Friday for Japan's five years of peacekeeping efforts in South Sudan following Tokyo's decision to withdraw troops at the end of May.Japanese peacekeepers have "been performing a very valua

    March 11, 2017 07:00 am JST
  • Japan's SDF to end South Sudan mission in May

    TOKYO -- The Japanese government will withdraw its Ground Self-Defense Force troops from a United Nations peacekeeping mission in South Sudan around the end of May, when their current duties, including road-building, are expected to be completed, Pr

    March 10, 2017 07:25 pm JST
  • Indian Ocean rim leaders call for closer ties amid globalization backlash

    JAKARTA -- Nations along the Indian Ocean on Tuesday agreed to strengthen economic and security cooperation to cope with mounting global uncertainty stemming in part from the rise of populism in the West.The Indian Ocean Rim Association held its fir

    March 7, 2017 10:55 pm JST
  • Isuzu buying out GM's East African subsidiary

    TOKYO -- General Motors has agreed to sell its ownership in a Kenyan subsidiary to Isuzu Motors, as the Japanese automaker aims to increase its presence in East Africa.Isuzu announced Tuesday that it will purchase as early as April a 57.7% stake in

    March 1, 2017 06:05 am JST
  • Olam International returns to profit in 2016

    SINGAPORE -- Singapore-based agricultural commodity producer Olam International posted a net profit of 351.3 million Singapore dollars ($250 million) for the year ended December 2016, reversing a net loss of S$114.9 million in 2015, due to lower one

    February 28, 2017 06:50 pm JST
  • Stainless steel market stirs back to life

    TOKYO -- Prices of stainless steel are on an uptrend, with producers and distributors breathing a sigh of relief after a prolonged slump.Benchmark SUS 304 stainless steel currently trades at around 320,000 yen ($2,800) per ton wholesale in Tokyo, ro

    February 16, 2017 11:00 am JST
  • OPEC hits record 90% compliance on crude output cuts

    LONDON -- OPEC member nations have slashed crude oil output at a rate largely fulfilling a November deal, but with shale oil suppressing prices, the cartel must decide whether to prolong its cuts and how to handle foot-dragging nonmember countries.T

    February 14, 2017 05:30 am JST
  • Thailand's PTT aims to quadruple LNG imports

    BANGKOK -- PTT plans to massively expand its LNG import capacity and ramp up overseas development again, CEO Tevin Vongvanich told The Nikkei on Tuesday, as the state-run Thai oil company seeks alternatives to dwindling domestic resources.PTT plans

    February 8, 2017 05:37 am JST
  • Japan to help companies make forays into Africa

    TOKYO -- The Ministry of Foreign Affairs here is beefing up information-gathering efforts on resource development in Africa, aiming to support moves by Japanese enterprises into the continent.Africa boasts abundant reserves of such resources as plat

    February 3, 2017 02:20 am JST
  • US entry ban draws muted response from new UN chief

    UNITED NATIONS -- Countries able to accept refugees for resettlement should do so, a spokesman for the U.N. secretary-general said Monday, expressing a hope that President Donald Trump's 120-day freeze on refugees entering the U.S. proves only tempo

    January 31, 2017 07:50 am JST
  • Kansai Paint to buy Ugandan company Sadolin

    OSAKA -- Kansai Paint aims to enlarge its footprint in the expanding African market with plans to acquire building paint company Sadolin group of Uganda around springtime.The Osaka-based company will buy all stakes in Sadolin via a South African uni

    January 27, 2017 02:00 am JST