Vladimir Putin arrives in North Korea for first go to in 24 years

Good morning. In as we speak’s e-newsletter we’re overlaying:

• A ship collision within the South China Sea

• An unique interview with India’s opposition chief

• Entrepreneur Pierre Chen’s Taipei condo

We begin, nonetheless, with Vladimir Putin’s first go to to North Korea in 24 years amid Russia’s burgeoning ties with Kim Jong Un’s regime.

The North Korean chief met Russia’s president on the airport earlier this morning for the beginning of a two-day go to, in keeping with state tv footage. Putin and Kim are anticipated to signal a brand new strategic partnership settlement through the journey, the Kremlin has stated.

In an article printed in North Korean state newspaper Rodong Sinmun forward of his arrival, Putin stated Moscow would search to work intently with Pyongyang to withstand western stress over Russia’s invasion of Ukraine and North Korea’s nuclear and ballistic missile programme.

North Korea yesterday reaffirmed its help for Russia’s invasion, which Kim has known as a “sacred war”.

Putin’s go to comes as issues develop within the west about deepening commerce and army co-operation between Moscow and Pyongyang. Learn extra on the settlement the 2 nations are anticipated to signal.

Right here’s what else I’m retaining tabs on as we speak:

• Financial coverage: The Financial institution of Japan releases minutes from its newest financial coverage assembly.

• China-Malaysia relations: Chinese language Premier Li Qiang is visiting Malaysia as Prime Minister Anwar Ibrahim pushes for nearer ties with Beijing. However many in Kuala Lumpur are wanting extra from the federal government’s China pivot.

• China-Tibet dispute: A bunch of US lawmakers arrived in India yesterday to meet the Dalai Lama, Tibet’s religious chief, in a go to prone to upset Beijing. (Reuters)

5 extra high tales

1. A Filipino sailor sustained a “severe injury” after the Chinese language coastguard deliberately rammed a Philippines vessel within the disputed South China Sea, the nation’s army has stated. The incident is the newest confrontation between the 2 nations amid mounting tensions over contested waters within the South China Sea.

2. UBS chief government Sergio Ermotti has warned that Switzerland dangers being overtaken by Hong Kong because the world’s wealth administration hub if policymakers overreact to the autumn of Credit score Suisse. Throughout a speech yesterday, Ermotti displayed a slide that confirmed Hong Kong’s wealth administration sector set to overhaul Switzerland by 2027, whereas Singapore was heading in the right direction to be in third place.

3. Nvidia has leapfrogged Microsoft and Apple to grow to be probably the most helpful firm on the planet. The US chipmaker’s market capitalisation hit $3.335tn yesterday — a landmark second following months of explosive share value development pushed by demand for its chips and an investor frenzy over synthetic intelligence.

4. Toyota chair Akio Toyoda was re-elected by shareholders yesterday amid issues about governance points on the world’s largest carmaker. However Toyoda was pressured to defend himself after proxy advisers advisable a vote towards him over automobile testing and emissions knowledge points at group subsidiaries.

5. The Israeli army stated yesterday that senior officers had accepted “operational plans for an offensive in Lebanon”. The announcement got here amid fears of an all-out battle between Israel and Hizbollah, with the US main a diplomatic push to de-escalate the state of affairs.

The Indian political panorama has undergone a “tectonic shift” after this month’s surprising election outcome and Prime Minister Narendra Modi’s authorities will “struggle” to outlive, Rahul Gandhi, the nation’s most distinguished opposition politician, has claimed in an unique interview with the FT.

We’re additionally studying and listening to . . . 

• The bullish case for TSMC: Shares of the Taiwanese semiconductor big nonetheless lag behind Nvidia and different chipmakers. However there are development alternatives within the coming quarters, writes June Yoon.

• 🎧 Tech Tonic: China is pushing the frontiers of scientific analysis, launching missions to the Moon and exploring the remotest locations on Earth as a part of its grand plan to grow to be a tech superpower.

• At dwelling with Pierre Chen: The Taiwanese tech entrepreneur reveals off his artwork and wine-filled Taipei condo, and discusses holding agency within the face of threats from China.

Chart of the day

Shein has been diversifying away from quick trend and attempting to enhance buyer loyalty forward of a deliberate itemizing in London. New analysis reveals Gen Z buyers — who powered the Chinese language-founded start-up’s explosion on to the style scene through the pandemic — had been utilizing Shein much less in the beginning of the yr.

Take a break from the information

A brand new wave of luxurious motels is providing guests to Tokyo wow-factor futurism in addition to quiet up to date luxe. FT Globetrotter has visited the better of the town’s new technology of high-end lodging.

Extra contributions from Irwin Cruz and Gordon Smith