Japan Central Bank Governor

Apr 10, 2023

New Governor of the Bank of Japan Kazuo Ueda, left, meets Japanese Prime Minister Fumio Kishida at the prime minister's official residence in Tokyo, Monday, April 10, 2023. The new governor of Japan’s central bank signaled Monday that he plans no drastic changes in its ultra-low interest rate policy, sticking to earlier messaging on the topic. (Kimimasa Mayama/Pool Photo via AP)

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New major crimes unit, police likely to face friction over unclear jurisdiction

The freshly launched agency dedicated to investigating "major crimes" may be headed for a turf war with the police due to a still unclear line between their jurisdictions, observers said Thursday. The new Serious Crime Investigation Agency (SCIA) set sail at the start of this month under a recent revision to the Criminal Procedure Act that effectively dismantled the previous prosecution system, leaving the prosecution with only the right to indict and maintain indictments against criminals. The right to investigate has been split between the SCIA and the police, with the SCIA tasked with investigating seven major crimes. The revision defines such crimes as those related to corruption, business and economy, defense procurement, narcotics, national security, cybercrimes and distortion of the law, but there still exists ambiguity, such as what constitutes a "major" crime or should the SCIA be required, if not allowed, to investigate what may be considered petty crimes if related to corruption, narcotics or any other crimes stated in the law. Also, the police, which have already been investi

New major crimes unit, police likely to face friction over unclear jurisdiction

Chinese-speaking hacker possibly linked to AI-driven attacks on S. Korean banks: report

U.S. cybersecurity firm CrowdStrike said an unidentified hacker believed to be a Chinese speaker used artificial intelligence (AI)-powered hacking tools to breach multiple Korean financial institutions and steal data. In a report released Wednesday (U.S. time), CrowdStrike said the attacker used ARTEX, an open-source AI-powered penetration-testing tool developed in China, alongside large language models (LLMs) to carry out cyberattacks between late September and early October. The findings come amid a series of data breaches at Korean financial institutions, including Hana Bank, KB Kookmin Bank and Shinhan Bank, prompting financial authorities and investigators to launch probes into the incidents. According to CrowdStrike, the compromised systems included a bank's loan inquiry service used by financial brokers and another bank's mobile work-support system for employees. "While this activity has not been attributed to a named adversary, the threat actor is likely a Chinese speaker and financially motivated," CrowdStrike said in the report. "This assessment is made with moderate confidence

Chinese-speaking hacker possibly linked to AI-driven attacks on S. Korean banks: report

Samsung Electronics 1st Korean firm to top $80 bil. in quarterly operating profit

Samsung Electronics on Thursday estimated 107.4 trillion won ($80.28 billion) in operating profit for the third quarter, becoming the first Korean company to surpass 100 trillion won in quarterly operating profit. In a regulatory filing, the company said its third-quarter operating profit and revenue are each estimated at 107.4 trillion won and 195 trillion won, respectively. If the figures are finalized when the company announces its full earnings results on Oct. 29, they would represent year-on-year increases of 782.5 percent in operating profit and 126.6 percent in sales. The operating profit surpassed brokerages’ consensus estimate of 106.64 trillion won, though sales fell slightly short of the 200.64 trillion won forecast. The earnings are particularly significant as they exceeded expectations despite concerns that the Korean won's sharp appreciation against the U.S. dollar from the previous quarter would weigh on profitability. “Despite an unfavorable business environment caused by the sharp appreciation of the Korean won, the company’s earnings were driven by its robust pric

Samsung Electronics 1st Korean firm to top $80 bil. in quarterly operating profit

Boy, 13, rescued after climbing onto air-conditioning unit to escape fire in flat

Hong Kong firefighters have rescued a 13-year-old boy who climbed out a window onto the air-conditioning unit to escape a fire that broke out in his flat, while his mother has been arrested on suspicion of child neglect. Police received reports at 7.54pm on Wednesday that a fire had broken out in a flat at Tsui To House, one of the blocks of Tsui Ping (North) Estate in Kwun Tong. Online footage showed the boy, wearing only his underwear, climbing out of a window and onto the condenser unit as...

Boy, 13, rescued after climbing onto air-conditioning unit to escape fire in flat

Beyond the summit: how US-China relations could still unravel

This year’s Chinese National Day reception in Washington felt noticeably jollier than those I have attended in recent years. The mood was more relaxed and Chinese Ambassador Xie Feng’s opening speech was upbeat. He even joked about the panda ambassadors at his own expense. The cheerful tone followed President Xi Jinping’s short but successful state visit to the US, during which his counterpart, President Donald Trump, gave him an unprecedented high-level reception that would have flattered even...

Beyond the summit: how US-China relations could still unravel

End ‘wholesale restrictions’ on Chinese EVs in US, experts say

The United States should engage with Chinese carmakers and battery manufacturers “strategically”, using targeted safeguards instead of the current “wholesale restrictions”, which could lead US carmakers to lose global market share, according to experts. “We need to consider strategic partnerships,” said John Helveston, an associate professor at George Washington University, during a discussion on Tuesday. “So not just wholesale restrictions, but look at some of the best opportunities and let...

End ‘wholesale restrictions’ on Chinese EVs in US, experts say

Mainland Chinese arrivals to Hong Kong beat ‘golden week’ forecast in just 6 days

Mainland Chinese visitor arrivals in Hong Kong exceeded the government’s forecast for the entire National Day “golden week” holiday in the first six days, as major shopping centres and hotel operators reported brisk business. The city recorded 1.3 million mainland visitor arrivals over the first six days of the week-long break, up by 11.6 per cent from the same period last year and surpassing the government’s forecast of 1.29 million for the entire holiday, according to Immigration Department...

Mainland Chinese arrivals to Hong Kong beat ‘golden week’ forecast in just 6 days

‘China already has spies’ at US AI labs, former Anthropic researcher warns

Former Anthropic and OpenAI researcher Jacob Coxon said he was 90 per cent certain that China already had spies inside both US artificial intelligence (AI) companies, without providing evidence. Coxon made the allegation in an interview with entrepreneur Patrick Bet-David on the PBD Podcast, arguing that China could steal advances from leading US AI labs and quickly close any technological gap. “Right now, if we just stopped, they would try and catch up. But I think one really important thing...

‘China already has spies’ at US AI labs, former Anthropic researcher warns

Trump urged Xi to talk to Takaichi and lift export curbs on Japan, sources say

US President Donald Trump pressed his Chinese counterpart Xi Jinping to roll back China’s export curbs on Japan during their meeting in the US, urging talks between the Chinese and Japanese leaders as Tokyo seeks to manage mounting pressure from Beijing. People familiar with the discussions told the South China Morning Post that Xi also warned Trump about the growing risks of Japanese militarism during their sit-down in Washington last month. According to the people, while the issue was not one...

Trump urged Xi to talk to Takaichi and lift export curbs on Japan, sources say

US issues first outbound investment fine over Chinese robotics AI deal

The US Treasury on Wednesday announced its first penalty under rules governing American investment in sensitive Chinese technologies, revealing a US$200,000 fine against the parent of Plug and Play Tech Centre for failing to report an investment in a Shanghai robotics AI company. The Treasury said on Wednesday that Amidi, LLC failed to submit a required notification after its Chinese fund subsidiary invested around US$92,478 in Shanghai Qiongche Intelligent Technology Company Limited, known as...

US issues first outbound investment fine over Chinese robotics AI deal

US proposes US$70,000 fee for foreign students to work after graduation

The United States has proposed requiring universities and other certified schools to pay US$70,000 for each foreign student entering a post-graduation work programme, a measure that could sharply raise the cost for thousands of Chinese graduates seeking employment experience in the country. The Department of Homeland Security announced on Wednesday that the proposed fee would apply to initial participation in Optional Practical Training, or OPT, with a further US$30,000 charge for subsequent...

US proposes US$70,000 fee for foreign students to work after graduation

China’s thorium-229 nuclear clock beats Vienna’s on stability, studies show

Initial results from the world’s first two working nuclear clocks indicate that China’s timepiece is about six times as stable as the one in Vienna, according to papers published this week by the journal Nature. The clocks were developed independently but both the Chinese team, led by Tsinghua University in Beijing, and the researchers at Vienna’s TU Wien used thorium-229 nuclei embedded in crystals to keep time by the steady rhythm of the atom’s core, rather than the electrons whirling around...

China’s thorium-229 nuclear clock beats Vienna’s on stability, studies show

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