Iran, Asia, and energy transition: What have we learned so far?

A reality check on how the Iran War will impact Asian energy markets. Five themes stand out.

A quick Firefly update

Travels in the region, upcoming stories, and a recap of our latest articles.

Fudosan finally breaks through

After a battle of wits with activists and minority shareholders, Toyota Fudosan wins the right to fully privatise Toyota Industries. Not the Toyota Group's finest moment.

Litigation watch: Bank of Baroda

Over the coming months Firefly will publish a series of articles on landmark litigation battles across the region. Our first looks at Indian lender, Bank of Baroda.

Macro governance, not AI, is the real story

AI-linked equities have set the tone for Asian markets in 2026. But the more important story is about governments.

The chutzpah of Hong Kong small caps

A listed company put prime assets into a private equity-style fund. The deal ticked regulatory boxes but things did not end well for shareholders.

TICO take-private: And the winner is...

Elliott and Japan emerge from the TICO privatisation saga in front. Toyota has much to learn.

Reform is a dish best served cold

Against a backdrop of rising geopolitical tensions with China, US regulators are mulling higher standards for "foreign private issuers". The move seems as much about retribution as reform.

Unshackling investors in Japan (2)

What are the pros and cons of the new large shareholder reporting regime? How might different types of investors respond?