Business Topics

Jul 18, 2015

Greek bank shutdown cost economy €3 billion: report

The three-week shutdown of Greek banks has cost the country’s struggling economy some €3 billion ($3.3 billion) not counting lost tourism revenue, a report said Saturday. Citing commerce groups, the Kathimerini daily said the retail trade alone had suffered a €600 million loss, with ...

Jul 16, 2015

Japan proposes low-tariff quotas for butter imports under TPP

Japan has proposed setting low-tariff quotas for imports of butter and skim milk powder under terms being thrashed out for the Trans-Pacific Partnership, negotiation sources said Thursday. The proposal was made in response to strong calls from other members of the 12-nation TPP initiative, ...

Bank of Japan maintains record stimulus, trims inflation outlook

Jul 15, 2015

Bank of Japan maintains record stimulus, trims inflation outlook

The Bank of Japan’s unprecedented monetary stimulus can drive inflation to its 2 percent target, Gov. Haruhiko Kuroda said as the bank left its policy unchanged and trimmed its price outlook. A slowdown in Japan’s economy is unlikely to continue this quarter while inflation ...

Greece surrenders much of its sovereignty to avoid euro exit

Jul 13, 2015

Greece surrenders much of its sovereignty to avoid euro exit

Eurozone leaders made Greece surrender much of its sovereignty to outside supervision Monday in return for agreeing to talks on an €86 billion bailout to keep the near-bankrupt country in the single currency. The terms imposed by international lenders led by Germany in all-night ...

Jul 13, 2015

Japan industrial output fell to 2.1% in May

Japan’s industrial output fell a seasonally adjusted 2.1 percent in May from the previous month, revised upward slightly from a preliminary 2.2 percent decrease, the Ministry of Economy, Trade and Industry said Monday. The index of output at factories and mines stood at 97.2 ...

Greek lawmakers back bailout reform plan

Jul 11, 2015

Greek lawmakers back bailout reform plan

Greece’s parliament backed the government’s reform plan to win a third bailout early Saturday, but with the government suffering significant losses from lawmakers dissenting over the plan’s austerity measures. The motion, which sought to authorize the government to use the proposal as a basis ...

Jul 10, 2015

June consumer confidence rises for first time in three months

Consumer confidence improved slightly in June, rising for the first time in three months amid higher share prices and improving employment conditions, the government said Friday. The seasonally adjusted index of sentiment among households made up of two or more people increased 0.3 point ...

Jul 10, 2015

Local tax revenue up for fifth year

Total tax revenue at the local level rose 4.8 percent in fiscal 2014 from the previous year to ¥38.42 trillion, up for the fifth consecutive year, the internal affairs ministry said in a preliminary report. The growth in the year ended in March reflected ...