Asia News Wrap: China brings forward investment plans, and more

Here are a few stories from around Asia you may have missed this week.

China is accelerating its pace to introduce a series of incremental policies to promote economic development. National Development and Reform Commission Chairman Zheng Shanjie and deputy heads unveiled a broad action plan at a press conference on Tuesday. Local governments will get 100 billion yuan ($14.15 billion) from next year's central government budget and another 100 billion yuan for key investment projects by year-end, Zheng said. He added that the recently unveiled package of additional policies was designed to strengthen counter-cyclical macro policy adjustment, expand effective domestic demand, increase efforts to help enterprises, stabilize the real estate market and boost the capital market.

Japanese parliament dissolved 

The lower house of Japan's parliament was officially dissolved on Wednesday, setting the stage for the general election as Prime Minister Shigeru Ishiba seeks to secure his party's lower house majority. The general election is slated to be held on October 27, with campaigning set to begin on October 15. Ishiba won the presidential election of the ruling Liberal Democratic Party (LDP) on September 27 and was elected prime minister on October 1 in the parliament controlled by the LDP-led coalition.

Indian business tycoon dies

Indian business tycoon, Ratan Tata passed away on Wednesday at the age of 86. He had been at the helm of India's most recognized brand, Tata, for over 30 years. Besides being a business leader of one of India's largest companies, with annual revenues of over $100 billion, he was a philanthropist. He went to college in the U.S. but decided to return and work in his home country. During his years at the helm, the company acquired brands such as Tetley Tea, Jaguar Land Rover and Corus Steel. Despite the name, a successful career was not preordained. His father had been adopted into the Tata family and became an executive at the company. Ratan himself joined on the shop floor of Tata Steel and rose through the ranks. Indian Prime Minister Narendra Modi hailed Tata as a "visionary business leader, a compassionate soul and an extraordinary human being." He was given a state funeral on Thursday.

Floods kill 15 in northeast India

At least 15 people have been killed in floods and landslides triggered by heavy rainfall in India's northeastern state of Meghalaya over the last four days, officials said on Monday. The floods, which submerged vast swathes of farmland, have also caused significant damage to crops in the region. The affected population of 17,000 people from about 165 villages has been shifted to relief camps. Conrad Sangma, the state's chief minister, visited areas severely affected by the floods on Thursday and asked authorities to remove all bottlenecks to speed up the relief and rehabilitation measures.

Malaysia's Johor state will revert to Saturday-Sunday weekend

Malaysia's Johor state will be reverting its weekend to Saturday and Sunday from the current Friday and Saturday. Johor Regent Tunku Ismail Sultan Ibrahim said on Monday that the weekend will be changed back to Saturday and Sunday from January 2025. "Following the consent and blessing from His Majesty Sultan Ibrahim, King of Malaysia, and after considering the views of the Johor Islamic Religious Council, I would like to announce that starting January 1, 2025, Johor"s weekend will be changed to Saturday and Sunday," he said in a statement on Facebook. "I hope that the private sector, the government and related parties allow sufficient time and space for Muslim workers to perform Friday prayers accordingly," he added.

(Cover: China World Trade Center CBD and China World Trade Center high-rise building under construction in Beijing. September 21, 2024. /CFP)