logo
CNA Correspondent - A tale of two rice-growing countries: The quest for grain stability in Japan and South Korea

CNA Correspondent - A tale of two rice-growing countries: The quest for grain stability in Japan and South Korea

CNAa day ago
The price of rice in Japan has more than doubled since 2024, while in neighbouring South Korea the grain is practically being given away for free. Teresa Tang speaks to correspondents Michiyo Ishida and Lim Yun Suk about what's behind the disparity.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

CNA938 Rewind - How much is Trump's revised 19% tariff a win for Indonesia?
CNA938 Rewind - How much is Trump's revised 19% tariff a win for Indonesia?

CNA

time9 minutes ago

  • CNA

CNA938 Rewind - How much is Trump's revised 19% tariff a win for Indonesia?

Indonesian leader Prabowo Subianto on Wednesday (Jul 16) hailed a "new era of mutual benefit" with Washington after President Donald Trump announced Indonesian goods entering the United States would face a 19 per cent tariff, far below the 32 per cent he had earlier threatened. Andrea Heng and Hairianto Diman assess the impact of the revised rate on Indonesia's economy with Adam Samdin, an economist from the Asia Macro team at Oxford Economics.

Couche-Tard withdraws $47 billion takeover offer for Seven & i
Couche-Tard withdraws $47 billion takeover offer for Seven & i

CNA

time2 hours ago

  • CNA

Couche-Tard withdraws $47 billion takeover offer for Seven & i

Canadian retailer Alimentation Couche-Tard said on Wednesday it was withdrawing its $47 billion takeover bid for Japan's Seven & i Holdings, citing a lack of "constructive" engagement. The move comes nearly a year after Couche-Tard, which owns Circle K convenience stores, first offered to purchase the 7-Eleven operator. The Canadian company had also agreed to a store sale plan, in a bid to ease some regulatory hurdles as a takeover would have created a global convenience store giant with about 20,000 locations.

Couche-Tard pulls $47 billion takeover bid for Seven & i
Couche-Tard pulls $47 billion takeover bid for Seven & i

CNA

time2 hours ago

  • CNA

Couche-Tard pulls $47 billion takeover bid for Seven & i

Canadian retailer Alimentation Couche-Tard said on Wednesday it was withdrawing its $47 billion takeover bid for Seven & i Holdings, citing a lack of "constructive" engagement with the Japanese company's founding Ito family. The move ends a year-long attempt by Couche-Tard to create a global convenience store giant with about 20,000 locations by merging Circle K and 7-Eleven brands. It had also agreed to a store sale plan, in a bid to ease some regulatory hurdles. "We have repeatedly sought a friendly dialogue with the Ito family but they have not been open to any conversation," Couche-Tard said in a letter to its board of directors. Couche-Tard had raised its offer to $47 billion from $38.5 billion in October last year and in March offered to increase it further if the Japanese firm cooperated and revealed more financial information. Its attempts at cementing the acquisition had gathered steam after a rival $58 billion white-knight bid from Seven & i Holdings' founding family ended after failing to get financing. The companies had inked a non-disclosure agreement (NDA) earlier this year, but "the quantity and substance of the permitted due diligence, including at two tightly constrained management meetings, have been negligible," Couche-Tard said in the letter.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store