Business Topics

Jun 2, 2014

Korean FTA to erode automakers' share in Colombia

Japanese automakers may lose traction in Colombia as a free trade agreement between that country and South Korea takes effect. Under the FTA signed in December 2013, Colombia will incrementally reduce tariffs on automobiles imported from South Korea from 35 percent to zero within ...

BOJ steps up growth 'rhetoric'

May 31, 2014

BOJ steps up growth 'rhetoric'

Japan’s risk of spurring inflation without boosting the nation’s growth potential is raising the stakes for Prime Minister Shinzo Abe’s next round of economic restructuring measures, due in June. An economy “with low real growth rates under mild inflation” is possible, should the government ...

May 30, 2014

U.K. to count prostitution, drugs when measuring GDP

Sex please — we’re British. Britain’s Office of National Statistics said prostitution and the import, manufacture and consumption of illegal drugs will be counted when making the government’s quarterly calculations of gross domestic product. The statistics agency said Friday some of these activities are ...

Consumption tax hike lifts inflation to a 23-year high

May 30, 2014

Consumption tax hike lifts inflation to a 23-year high

Japan’s consumer prices rose 3.2 percent in April from a year earlier to the highest level since 1991, the government said Friday. The rise was largely due to the first stage of a two-part sales tax hike that is expected to dent growth this ...

May 29, 2014

Flurry of contacts with China takes positive swing toward commerce

Chinese Vice President Li Yuanchao and the head of the Keidanren business lobby agreed Wednesday to expand bilateral economic cooperation despite continuing political tensions. “Although China and Japan are currently fighting about historical issues” and over which country controls a group of islands in ...

Foreign labor key to Olympic gold

May 28, 2014

Foreign labor key to Olympic gold

by Masaaki Iwamoto

At a construction site in Kawagoe, Saitama Prefecture, worker Fan Xiuyu says he’s too busy to miss the wife and 6-year-old child he left behind in China. “I came to Japan to make money and learn advanced construction techniques,” said Fan, 29, a native ...

May 28, 2014

Lawmakers to push Abe on Russia gas link

Diet members are renewing the push for a ¥600 billion natural gas pipeline from Russia, which last week signed a supply deal with China, in a bid to cut energy costs after the 2011 nuclear disaster in Fukushima. A group of 33 lawmakers is ...

May 28, 2014

Japan ready to lower pork tariffs for TPP

Japan will review the tariffs it imposes on pork imported from the United States, agreeing to the potentially greater imports Washington has been calling for in bilateral talks on the Trans-Pacific Partnership, according to sources close to the matter. Japan will likely reduce tariffs ...

May 25, 2014

BOJ chief prods Abe to get moving on reforms

Bank of Japan Gov. Haruhiko Kuroda has forecast victory in his battle against stubborn deflation that has sapped growth for years, but expressed impatience with the pace of Prime Minister Shinzo Abe’s much touted economic plan to jump-start the feeble economy. The central bank ...