Travelers turning to highway buses to save on fares

Aug 21, 2008

Travelers turning to highway buses to save on fares

At a time when food prices are on the rise and income levels remain flat, it’s not easy finding the money for shinkansen tickets, which cost ¥13,240 per person for a nonreserved seat from Tokyo to Osaka. But there is another form of public ...

Aug 20, 2008

Economy 'sluggish,' BOJ says

Growth has turned “sluggish,” the Bank of Japan declared Tuesday, revising downward its assessment of the economy for the second straight month. It is the first time in more than 10 years that the BOJ has used “sluggish” to describe the economy and underscores ...

Traditional nuptials revived to up tourism

Aug 16, 2008

Traditional nuptials revived to up tourism

Some 2,500 tourists were on hand to watch as 22-year-old bride Noriko Kageyama and groom Takanori Nakazawa paraded through the streets of Inawashiro town in Fukushima Prefecture one Saturday in June. Wearing traditional black kimono with “tsunokakushi” white bride’s hood, Kageyama, who was born ...

Cash still flows for weddings

Aug 16, 2008

Cash still flows for weddings

Consumers are being forced to tighten their belts by soaring food and oil prices and the expanding economic slowdown triggered last year by the subprime-loan crisis in the United States. However, they don’t hesitate to splash the cash when it comes to the one ...

Aug 14, 2008

2.4% decline in GDP spells recession

The economy shrank at an annualized pace of 2.4 percent in the second quarter, the government said Wednesday, posting Japan’s first negative growth in a year and signaling the approach of a recession linked to rising oil prices and a slowdown in the United ...

Aug 12, 2008

Stimulus package outline unveiled

The government on Monday unveiled an outline of a stimulus package to help the economy out of its downtrend amid rising oil prices and a global slowdown due to the U.S. subprime crisis. But it did not include how much money the government will ...

Aug 8, 2008

Cabinet Office report points to recession

With the word “weakening,” the Cabinet Office on Thursday effectively called an end to the longest expansion of the postwar period. In its report for August, the office did away with the July phrasing that the recovery is pausing, making it clear the economy ...

Detail goals before raising taxes: Ibuki

| Aug 5, 2008

Detail goals before raising taxes: Ibuki

Before initiating any hike in the 5 percent consumption tax, the ruling bloc must clearly articulate to voters what policies it will pursue and its priorities in line with a higher levy, new Finance Minister Bunmei Ibuki said Monday. Speculation is rife that Friday’s ...

Aug 1, 2008

Downturn doesn't spell 'R' word: Mitarai

Although the economy is suffering a downturn because of the slowdown in the U.S., Japan is unlikely to experience a recession in the foreseeable future, Fujio Mitarai, chairman of the nation’s biggest business lobby, said Thursday. Since the end of last year, personal consumption ...

Jul 30, 2008

Sony profit fell 47.4% in quarter; forecast pared

Sony Corp. said Tuesday its group net profit plunged 47.4 percent to ¥35 billion in the April-June quarter from a year ago amid fierce competition in the consumer electronics sector, including compact digital cameras and computers. The group’s operating profit meanwhile dropped 39.5 percent ...

Jul 26, 2008

India's Subbarao urges more direct investment

Visiting Indian Finance Secretary Duvvuri Subbarao called on Japanese firms Friday to boost investment in India, especially in the field of infrastructure, where the nation plans to spend $500 billion in the next five years. India expects foreign direct investment to shoulder about a ...