Briefing 2023-05-08

Sales decline drove profit of
automobile industry down
Sales of commercial vehicles almost halved in the nine months through March, compared to the same period a year ago amid runaway inflation. The country's automobile sector took a fresh blow following the pandemic as Russian troops invaded Ukraine in February last year sending a jolt through the global economy. Page 9
Japan, S Korea seek to cement ties
Unresolved historical disputes should not block South Korea and Japan from deepening ties in the face of international crises, South Korean President Yoon Suk Yeol said as he welcomed Japanese Prime Minister Fumio Kishida to Seoul on Sunday. The pledge by the leaders to boost cooperation has been welcomed by the United States as a way to better confront threats from North Korea and competition from China. Page 17
PM offers economic zone to Bhutan
Prime Minister Sheikh Hasina has offered Bhutan to build an economic zone in Bangladesh for mutual benefits as Bhutanese King Jigme Khesar Namgyel Wangchuck and Queen Jetsun Pema had a meeting with her. "We're establishing economic zones in Bangladesh. Page 20
Buffett faults handling of bank failures
Warren Buffett on Saturday criticized the handling of recent tumult in the banking sector and said a debt ceiling showdown could bring "turmoil" to the financial system, even as he offered a vote of confidence in the United States and his conglomerate Berkshire Hathaway Inc. Buffett criticized how politicians, regulators and the press have handled the recent failures of Silicon Valley Bank, Signature Bank and First Republic Bank. Page 13