In a strategic move to bolster its financial recovery, Nissan Motor Co. announced on Thursday the sale of its headquarters building in Yokohama for 97 billion yen ($630 million). The Japanese automaker, which has been grappling with significant financial losses, will lease back the property and continue to use it as its headquarters. The transaction with Tokyo-based real estate operator MJI Godo Kaisha, a subsidiary of Hong Kong-listed Minth Group, is expected to yield a gain of 73.9 billion yen ($480 million) for Nissan. The proceeds will be allocated toward modernizing internal systems, accelerating the adoption of AI-driven technologies, and enhancing digital operations across the company. Nissan, known for its March subcompact and Infiniti luxury models, has been striving to return to profitability after reporting a staggering 670.9 billion yen ($4.4 billion) loss for the fiscal year ending in March. Under the leadership of new CEO Ivan Espinosa, a seasoned Nissan executive with two decades of experience, the company is implementing a comprehensive turnaround strategy. This includes workforce reductions of 15%, affecting approximately 20,000 employees globally, and the closure of its flagship factory in Oppama, Japan. Nissan emphasized that the sale of its headquarters building aligns with its disciplined approach to capital efficiency, unlocking value from non-core assets to support its transformation during challenging times. The company remains committed to innovation, competitiveness, and aggressive research to secure future growth.
标签: Asia
亚洲
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Watch: Cars pile up on Philippines streets after typhoon
In the wake of a devastating typhoon, the Philippines has been left grappling with catastrophic flooding that has claimed the lives of at least 85 individuals, with 75 more still unaccounted for. The calamity has transformed urban landscapes into scenes of chaos, with vehicles piled up on streets submerged under water. Rescue operations are in full swing as emergency teams work tirelessly to locate survivors and provide aid to affected communities. The typhoon’s torrential rains have overwhelmed infrastructure, leaving towns inundated and residents stranded. Authorities have issued warnings for continued heavy rainfall, urging citizens to remain vigilant. This disaster underscores the increasing vulnerability of the region to extreme weather events, exacerbated by climate change.
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Players stranded, hotels unpaid – how a Kashmir cricket league turned into a fiasco
A private cricket league in Indian-administered Kashmir has sparked outrage after its organizers abruptly abandoned the tournament, leaving players, support staff, and hotel owners unpaid. The Indian Heaven Premier League (IHPL), organized by the Yuva Society from Punjab, initially showed promise with international cricket legends like Chris Gayle and Devon Smith participating in the opening matches. However, the league was halted after just 12 of the scheduled 20 matches, with organizers allegedly fleeing Kashmir on November 1, leaving behind unpaid bills and disgruntled participants. Local players reported poor attendance, with only 400-500 spectators at the opening match despite reduced ticket prices. Police have registered a case of cheating and breach of trust, launching an investigation into the incident. Parvez Rasool, a former international cricketer, criticized the poor management, while fast bowler Abid Nabi lamented the lost opportunity for local players to gain experience alongside international stars. The Radisson Collection Hotel in Srinagar, where organizers stayed, claimed they fled in the middle of the night, leaving behind unpaid dues. Umpire Mellissa Juniper revealed that around 40 players were stranded for hours before being allowed to leave, with unpaid wages totaling 5 million rupees ($56,430). Authorities in Kashmir have distanced themselves from the league, emphasizing their limited role in granting permissions. The incident has left local cricket enthusiasts disillusioned, with resident Tahir Hussain stating that the sudden collapse has shattered trust among players, fans, and the community.
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Praise and vitriol pours in after Zohran Mamdani’s historic NYC mayoral victory
In a groundbreaking political triumph, Democratic Socialist Zohran Mamdani secured a decisive victory in New York City’s mayoral election on Tuesday night, garnering 50.4% of over two million votes cast. Former New York Governor Andrew Cuomo trailed with 41.6%, while former mayoral candidate Curtis Sliwa received 7.1%. With 93% of votes counted, Mamdani’s win marks a significant shift in the city’s political landscape. His campaign, centered on affordability, promised a rent freeze for two million residents, free bus travel, and universal childcare, funded by a proposed 2% tax increase on high-income earners. House Democratic Leader Hakeem Jeffries celebrated the victory, declaring the Democratic Party’s resurgence, while former President Donald Trump criticized Mamdani as a ‘communist,’ sparking heated debate. Israeli officials, including Minister of Diaspora Affairs Amichai Chikli, condemned Mamdani’s win, labeling him a ‘supporter of Hamas.’ Despite opposition, Mamdani received congratulations from unexpected quarters, including billionaire Bill Ackman and New York State Democratic Party Chair Jay Jacobs. The election has ignited a global conversation on progressive politics, with Mamdani vowing to address antisemitism and prioritize affordability in his leadership.
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PM Narendra Modi meets India’s Women’s World Cup-winning team
Prime Minister Narendra Modi hosted the victorious Indian women’s cricket team at his official residence on Wednesday, celebrating their historic win at the ICC Women’s World Cup. The team, which overcame a challenging start with three consecutive losses and faced significant online criticism, made a remarkable comeback to clinch the title. PM Modi lauded their resilience and determination, emphasizing their achievement as a source of national pride. The players presented the Prime Minister with a signed jersey bearing the inscription ‘Namo 1,’ symbolizing their gratitude and unity. The meeting was also attended by Mithun Manhas, President of the Board of Control for Cricket in India (BCCI).
Captain Harmanpreet Kaur reflected on the team’s journey, recalling their previous meeting with PM Modi in 2017 after a heartbreaking loss in the World Cup final. She expressed joy at returning with the trophy this time and hoped for more such interactions in the future. Vice Captain Smriti Mandhana, who emerged as the tournament’s second-highest run-scorer, credited PM Modi’s motivational words as a driving force behind their success. She highlighted the broader impact of his leadership on empowering women across various fields.
Deepti Sharma, named ‘Player of the Tournament’ for her all-round performance, shared her excitement about meeting the Prime Minister again. She recounted his advice from 2017 to persevere and strive for excellence, which she believes played a pivotal role in their eventual triumph. PM Modi also praised Amanjot Kaur for her crucial catch in the final, which dismissed South Africa’s in-form captain Laura Wolvaardt, despite initial fumbles. The meeting underscored the team’s journey from adversity to glory and their role as inspirations for aspiring athletes nationwide.
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Philippines declares a state of emergency after typhoon left at least 241 people dead and missing
MANILA, Philippines — In response to the devastating impact of Typhoon Kalmaegi, Philippine President Ferdinand Marcos Jr. announced a state of emergency on Thursday. The typhoon, which has been the deadliest natural disaster in the country this year, has claimed at least 114 lives, with an additional 127 individuals reported missing. The majority of the fatalities were caused by drowning in flash floods, particularly in the central province of Cebu. The tropical cyclone, which affected nearly 2 million people, displaced over 560,000 villagers, including nearly 450,000 who sought refuge in emergency shelters. The typhoon exited the archipelago on Wednesday, moving into the South China Sea. During a meeting with disaster-response officials to evaluate the aftermath, President Marcos emphasized that the emergency declaration would expedite the disbursement of emergency funds and curb food hoarding and overpricing. This measure aims to provide swift relief to the affected communities and ensure the stability of essential supplies in the wake of the disaster.
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New York City election breakdown: Mamdani won over Blacks, Hispanics and young voters
In a groundbreaking electoral triumph, Zohran Mamdani has been elected as New York City’s first Muslim mayor, marking a significant shift in the city’s political landscape. Mamdani’s victory was fueled by overwhelming support across four of the city’s five boroughs, with Staten Island being the sole exception. He outperformed former New York Governor Andrew Cuomo by substantial margins, securing 10 percentage points in Manhattan, 20 in Brooklyn, 11 in the Bronx, and 5 in Queens. This win underscores Mamdani’s ability to bridge diverse communities and build a broad coalition of voters. Despite Cuomo’s efforts to appeal to traditional Democratic strongholds and his emphasis on his Italian-American heritage and Catholic faith, Mamdani’s progressive platform resonated strongly with younger voters and key demographic groups. Exit polls revealed a stark generational divide, with Mamdani capturing 78% of voters aged 18-29, compared to Cuomo’s 18%. Women in this age group overwhelmingly favored Mamdani, with 84% casting their ballots in his favor. Mamdani also made significant inroads among Black, Hispanic, and Asian communities, securing 61%, 57%, and 47% of their votes, respectively. While Cuomo maintained support among white voters and religious groups like Protestants, Catholics, and Jews, Mamdani dominated among those with no religious affiliation and other religious minorities. His success in traditionally underserved neighborhoods, such as Brooklyn’s Brownsville, further highlighted his ability to connect with economically disadvantaged communities. Despite Cuomo’s attempts to portray Mamdani as a threat to the city’s affluent residents, Mamdani performed well in affluent Manhattan neighborhoods like the West Village, Chelsea, and Greenwich Village. This historic victory, with over one million votes, marks the first time since 1969 that a mayoral candidate has achieved such widespread support.
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Modi’s party faces test in crucial Indian state election
The eastern Indian state of Bihar has commenced its highly anticipated election, with over 74 million eligible voters set to determine the composition of the next state government. This election, conducted in two phases for 243 legislative seats, is seen as a critical precursor to several other significant state polls across India. The results, to be announced on November 14, will shape Bihar’s political trajectory and have broader implications for national politics. The election follows a contentious revision of voter rolls, which the opposition claims was designed to exclude genuine voters, particularly Muslims, and favor Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP). Both the BJP and the Election Commission have refuted these allegations. Bihar, one of India’s poorest and most populous states, has long been a battleground for political dominance. Despite its influence, Modi’s BJP has yet to form a government independently in the state. The outgoing government is a coalition between the BJP and the Janata Dal (United) (JD(U)), who are contesting the election together once again. Meanwhile, the main opposition Congress party has allied with the regional Rashtriya Janata Dal (RJD) and several smaller parties. Adding to the political drama is the entry of Prashant Kishor, a renowned political strategist, who has launched his own party, Jan Suraaj. This election is also notable as it may mark the final chapter for two veteran leaders who have dominated Bihar’s politics for nearly four decades: JD(U)’s Nitish Kumar and RJD’s Lalu Prasad Yadav. Both leaders, reportedly in poor health, have occasionally collaborated to maintain their political influence. Kumar, the incumbent chief minister, has been a pivotal figure in Bihar’s governance for much of the past two decades and a key ally of the BJP. Yadav, a charismatic leader known for championing marginalized caste groups, served as chief minister from 1990 to 1997 but has been embroiled in corruption scandals. His son, Tejashwi Yadav, is the opposition alliance’s chief ministerial candidate. The election is also being shaped by the rising influence of female voters, who constitute nearly half of the electorate. Political parties are actively courting women with welfare schemes and financial incentives, recognizing their potential to sway the outcome. As Bihar heads to the polls, the stakes could not be higher, with the results likely to reverberate across India’s political landscape.
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At least 114 dead as Philippines reels from Typhoon Kalmaegi
The Philippines is grappling with the aftermath of Typhoon Kalmaegi, one of the most powerful storms to hit the region this year. As of Thursday, the death toll has climbed to at least 114, with 127 people still missing and 82 injured, according to authorities. The typhoon caused catastrophic flooding across Cebu, the country’s most populous island, where 71 fatalities were reported. Provincial authorities in Cebu have confirmed an additional 28 deaths, which were not included in the national civil defense office’s initial tally. Kalmaegi has since exited the Philippines and is now heading toward central Vietnam, where residents are already dealing with severe flooding that has claimed dozens of lives. The storm unleashed torrents of muddy water, sweeping through towns and cities, leaving behind widespread destruction. Residential areas in Cebu were particularly hard-hit, with many small buildings destroyed and thick layers of mud covering the landscape. Local officials described the devastation as ‘unprecedented.’ Residents returning to their homes are struggling to cope with the aftermath. Jel-an Moira Servas, a business owner from Mandaue city, recounted her harrowing experience of being waist-deep in water within minutes and evacuating with her family. ‘Our houses are filled with mud, and everything is in shambles,’ she said. ‘We don’t even know where to start cleaning.’ The national disaster agency reported that over 400,000 people have been displaced in Cebu, home to 2.5 million residents. The death toll also includes six crew members of a military helicopter that crashed during relief operations on Mindanao island. Volunteer rescuer Carlos Jose Lañas described the situation as the worst flood he has ever witnessed, with emergency responders overwhelmed by the scale of the disaster. Kalmaegi, locally known as Tino, is the 20th tropical cyclone to strike the Philippines this year, a country frequently battered by powerful storms. This disaster follows closely on the heels of back-to-back typhoons in September that killed over a dozen people and caused significant damage to infrastructure and crops. The region has also faced an unusually wet monsoon season, exacerbating the crisis and sparking public outrage over inadequate flood control systems. As Kalmaegi strengthens, with winds reaching 155 km/h, it is expected to make landfall in central Vietnam on Friday, where more than 50 flights have already been canceled or rescheduled. Thailand is also preparing for potential impacts, including flash floods and landslides.
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NRIs in UAE: India’s fintech sector continues on strong growth path
India’s fintech sector is experiencing unprecedented growth, driven by technological innovation and strategic government initiatives. With over 10,000 companies and $40 billion in investments, the sector has become a cornerstone of India’s digital economy. The Reserve Bank of India (RBI) recently unveiled the Unified Market Interface, a groundbreaking platform enabling instant trading of financial assets as digital tokens, settled through the central bank’s digital currency. This development marks a pivotal moment in India’s digital finance ecosystem, which is further bolstered by advancements in data integration, asset tokenization, artificial intelligence (AI), and cybersecurity. The account aggregator framework currently serves 160 million accounts, enhancing financial inclusivity and transparency. Additionally, the Unified Lending Interface has bridged India’s credit gap, sanctioning 3.2 million loans worth Rs. 1.7 trillion since its launch. The retail digital e-rupee, adopted by 19 banks and 7 million users, has also emerged as a critical component of India’s digital public infrastructure. Despite lower R&D spending compared to the US and China, India is leveraging AI to accelerate innovation in life sciences, climate resilience, and space technology. The automotive sector is also thriving, with vehicle exports growing by 20% in the first half of 2025, driven by global demand for electric vehicles and SUVs manufactured in India. Companies like Suzuki, Hyundai, and Nissan are leading this export surge, positioning India as a global manufacturing hub.
