Apr 5, 2016

Japan considers underwriting construction of Indonesian port

The government may provide low-interest yen loans to Indonesia to help it build a major new port in Patimban, 120 kilometers east of Jakarta, sources said. As the Indonesian side has estimated construction will cost ¥300 billion, this is likely to be one of ...

Dec 28, 2015

Japan to forgive ¥120 billion in claims against Cuba

Japan has decided to give up ¥120 billion in claims for damages against Cuba that arose from the Caribbean country’s overdue debt, according to informed sources. The government is looking at resuming yen loans to Cuba, following the restoration of its diplomatic ties with ...

Albeit modest, Fed hikes rates from historic near-zero

Dec 17, 2015

Albeit modest, Fed hikes rates from historic near-zero

The Federal Reserve is raising interest rates after seven years of record lows. But it’s signaling that further rate hikes will likely be made slowly as the economy strengthens further and muted inflation rises. The Fed’s move Wednesday to lift its key rate by ...

Return-starved mega-banks boost lending 25% in Australia

Nov 9, 2015

Return-starved mega-banks boost lending 25% in Australia

The nation’s biggest banks are looking to get more bang for their buck Down Under, expanding loans in Australia 25 percent in the past year. With interest rates near zero at home, Mitsubishi UFJ Financial Group Inc., Sumitomo Mitsui Financial Group Inc. and Mizuho ...

Sep 3, 2015

As Asia depreciates, Japan megabanks fear for their loans

Japanese banks may be starting to regret their biggest increase in overseas lending in 30 years as Asian economies slump and currencies tumble. Mitsubishi UFJ Financial Group Inc.’s assets in Asia excluding Japan made up 9.3 percent of the total as of March 31, ...

May 27, 2015

MUFG record profit masks vanishing loan earnings in Japan

Record profits at Mitsubishi UFJ Financial Group Inc. and at least 26 of the nation’s banks mask vanishing returns on lending in Japan that’s spurring them to venture overseas. Funding costs and administrative expenses related to operating hundreds of branches exceeded what the two ...