Business Topics

Dec 27, 2014

Falling oil prices pushing Russia toward recession

Slumping oil prices have put Russia’s economy on course for a sharp recession next year, Finance Minister Anton Siluanov said Friday, as authorities scaled up their bailout for the first bank to succumb to the recent ruble crisis. The economy is slowing sharply as ...

Dec 26, 2014

Auto output sags in November, stretching decline to fifth month

Vehicle production in Japan fell to 743,289 units in November, down 12.2 percent from the previous year amid declining demand, the Japan Automobile Manufacturers Association said Friday. The fifth straight month of decline reflected continued weak consumer spending after the April consumption tax hike. ...

Dec 26, 2014

Abe administration proposes new subsidies for regional revitalization

The Abe administration proposed Friday creating new types of subsidies that towns, villages, prefectures would use at their own discretion to promote measures for stopping population decline and revitalizing regional economies. The proposal, part of a draft five-year comprehensive strategy for regional revitalization, was ...

Dec 26, 2014

Job availability rose for second month in row in November

Job availability rose for a second straight month in November, the government said Friday, suggesting firms are seeking to hire more workers as corporate profits improve. The ratio of job offers to job-seekers climbed to 1.12 from 1.10 in October, meaning 112 positions were ...

Inflation drive hampered by recession-hobbled economy

Dec 26, 2014

Inflation drive hampered by recession-hobbled economy

Inflation slowed for a fourth month in November and industrial production and retail sales unexpectedly dropped, based on government data released Friday, pointing to further weakness in an economy Prime Minister Shinzo Abe is trying to revive from recession. Output fell 0.6 percent in ...

Dec 26, 2014

Inflation, industrial output weakened in November

The inflation rate eased slightly in November as household spending dropped, hindering the Abe administration’s effort to get the economy out of recession and back to sustainable growth. Government data released Friday showed core consumer prices, excluding food, rose 2.7 percent, marking the 18th ...

Dec 25, 2014

Services producer price index rose 3.6% in November

The services producer price index rose 3.6 percent in November from a year before, up for the 17th consecutive month, the Bank of Japan said Thursday. The index, previously called the tertiary or corporate services price index, stood at 102.9 against 100 for the ...

Methane hydrate extracted from Sea of Japan

Dec 25, 2014

Methane hydrate extracted from Sea of Japan

The government has succeeded in extracting samples of a next-generation resource called methane hydrate from the bottom of the Sea of Japan, the Agency for Natural Resources and Energy said Thursday. Researchers conducted drilling surveys and were able to obtain samples of the “fiery ...

BOJ policymaker urged fiscal discipline amid easing policy: minutes

Dec 25, 2014

BOJ policymaker urged fiscal discipline amid easing policy: minutes

A member of the Bank of Japan’s Policy Board said at last month’s meeting that fiscal discipline should be maintained even when long-term interest rates remain low, according to minutes of the meeting released Thursday. The policymaker said the decline in long-term interest rates ...

Dec 25, 2014

Next stimulus package likely to total ¥3.5 trillion

Japan’s next economic stimulus package is expected to weight in at just ¥3.5 trillion, including some ¥420 billion in new subsidies to help personal spending and reinvigorate regions outside big cities, informed sources said. The previous stimulus package, compiled as part of the supplementary ...

Dec 25, 2014

Putin orders vodka price cap as Russia's economy goes on the rocks

Russian President Vladimir Putin ordered his government on Wednesday to rein in rising vodka prices, as he battles to preserve his popularity amid an aggravating economic crisis. Putin told a meeting with government officials and regional governors that expensive vodka prices encourage the production ...