Jun 30, 2014

World Bank's Kim optimistic about Abe's 'third arrow'

World Bank President Jim Yong Kim has voiced optimism about Japan’s revamped growth strategy, the “third arrow” in Prime Minister Shinzo Abe’s three-pillar economic policy package called “Abenomics.” Abe’s commitment to tackling “rock hard regulations” related to employment, agriculture and health care is a ...

Abe's 'drill bit' buckles on labor reform

Jun 29, 2014

Abe's 'drill bit' buckles on labor reform

by Antoni Slodkowski

When Prime Minister Shinzo Abe vowed at the World Economic Forum in Davos to take a “drill bit” to the “solid rock” of vested interests blocking reforms to Japan’s economy, executives at companies such as General Electric and IBM paid attention. In the months ...

Prices climb most in 32 years as wages limp along

Jun 27, 2014

Prices climb most in 32 years as wages limp along

Consumer prices climbed in May at their fastest pace in 32 years, swelled by the hike in the consumption tax and higher utility charges that are squeezing Japanese budgets as wage gains remain limited. Consumer prices excluding fresh food but not energy, rose 3.4 ...

Corporate tax cut no 'magic wand,' warns ministry adviser

Jun 26, 2014

Corporate tax cut no 'magic wand,' warns ministry adviser

The plan to cut the corporate tax won’t be “a magic wand,” warns Hiroshi Yoshikawa, a key adviser to the finance minister. The Abe administration on Tuesday adopted new economic and fiscal policy guidelines that call for, among other things, lowering Japan’s effective corporate ...

Jun 23, 2014

Foreign maids the talk of Kansai zone

by Eric Johnston

Discussions began in Osaka on Monday on a proposed special economic zone in the Kansai region that will include an experimental program to attract foreign maids to the region. An initiative backed by the central government, the zone is a series of locations in ...

Jun 19, 2014

BOJ exec shrugs off tax increase slowdown fears

A Bank of Japan policymaker Thursday shrugged off the possibility that the consumption tax hike on April 1 could significantly slow the economy, echoing the central bank’s bright projections. “Although being affected by strong demand before and a decline following (the April 1 tax ...