The DailyBrief

Friday May 12, 2017

Japan’s corporate silence: The negative attitude to criticism typically shown by Japanese banks, brokerages and corporations still remains typical of Tokyo’s backward corporate attitude, writes Yuriy Humber . Despite the supposed corporate governance reform brought in by Abenomics, the reality is that investors, both domestic and overseas, in Japanese stocks are still wary of being labeled as troublemakers and frozen out.

Washington welcomes Russia: This week’s visit by Russian Foreign Minister Sergey Lavrov to the White House raised expectations for July’s historic first meeting between Trump and Putin. M.K. Bhadrakumar writes that the meeting is all part of Trump’s redefinition of the US’ post-World War II foreign policies that could, ultimately, significantly redraw the world’s security architecture.

Obor and America: In an about-face, the United States has confirmed that it will send representatives to China’s strategically key Belt and Road Summit this weekend, writes Lin Wanxia. The Washington delegation prevents an embarrassing absence of major Western nations at the high-profile meeting hosted by President Xi Jinping. To date, reports Asia Times, China’s banks have made loans worth US$480 billion for Obor projects.

Noble, huge losses: Noble Group lost over US$0.5bn in value during a trading rout this week as its share price was pummeled to a 15-year low, reports Nick Westra. Noble’s founder and Executive Chairman Richard Elman also announced he is stepping down, after three decades of service.