Business Topics

Mar 31, 2015

Diet passes tax system revisions for fiscal 2015

The Diet on Tuesday approved legislation for tax system revisions for fiscal 2015, including postponement of the next consumption tax hike. Prime Minister Shinzo Abe announced late last year he was putting off the planned tax hike to 10 percent until April 2017, a ...

Mar 31, 2015

Oil imports slide 7.5% in February

The nation imported 7.5 percent less crude oil last month from a year earlier, down for the fourth consecutive month, a government agency said Tuesday. Imports totaled 102.34 million barrels, of which oil from the Middle East accounted for 82.4 percent, up 0.3 percentage ...

Jokowi returns to Jakarta with $74 billion in business deals

Mar 30, 2015

Jokowi returns to Jakarta with $74 billion in business deals

President Joko “Jokowi” Widodo has brought back business commitments worth a total of $74.34 billion in various planned projects and investments, following state visits to Japan and China over the past week, a senior government official said. Upon arriving in Jakarta after accompanying the ...

Mar 30, 2015

Industrial output takes larger drop

Japan’s industrial production fell more than forecast in February, adding to pressure from a drop in consumer spending and faltering inflation. Output declined 3.4 percent from January, when it rose 3.7 percent, the trade ministry said in Tokyo on Monday. The median estimate of ...

Mar 30, 2015

Russia, Australia, Netherlands to join China's development bank

Russia, Australia and the Netherlands on Saturday became the latest three countries to say they plan to join the China-led Asian Infrastructure Investment Bank, adding clout to an institution seen as enhancing China’s regional and global influence. The AIIB, seen as a challenge to ...

Mar 27, 2015

Some TPP nations seek exemption from investor-state lawsuit rule: WikiLeaks

Some of the 12 countries negotiating the Trans-Pacific Partnership free trade pact demanded they be exempted from the proposed litigation rule involving corporation and state, according to a purported negotiation text released by anti-secrecy website WikiLeaks. It’s not known whether such demands remain on ...

Mar 26, 2015

LNG export project kicks off in Maryland

A ground-breaking ceremony was held in Cove Point, Maryland, on Wednesday for facilities related to a project to export liquefied natural gas to Japan. The project, which involves Sumitomo Corp., will see some 2.3 million tons of LNG shipped to Japan annually after the ...

Mar 26, 2015

'Reflationist' economist Harada appointed to BOJ Policy Board

The government on Thursday appointed former Waseda University economics professor Yutaka Harada to the Bank of Japan Policy Board. Harada succeeds Ryuzo Miyao, a former economics professor at Kobe University whose five-year term on the nine-seat board ended Wednesday. A University of Tokyo graduate, ...

ADB president eyes joint funding in projects with AIIB

Mar 25, 2015

ADB president eyes joint funding in projects with AIIB

Asian Development Bank President Takehiko Nakao said Wednesday that jointly funding projects with a planned Chinese-led Asian development bank is one way to form a “complementary relationship.” “We’ll cooperate if it’s formally launched,” Nakao said at a news conference in Tokyo. “It’s impossible to ...

Australia leader voices support for China-led development bank

Mar 25, 2015

Australia leader voices support for China-led development bank

Australia’s prime minister said Wednesday he supports the proposed development of a Chinese-backed Asian regional bank as long as it is transparent and not run by a single country. Prime Minister Tony Abbott said Australia would announce its decision about joining within a few ...