Consumers look for ways to blunt impact of consumption tax hike
Japan's consumption tax on goods and services has arguably been unpopular from the get-go. Introduced at 3 percent in 1989 as a means of improving public finances, the rate was raised to 5 percent in 1997, 8 percent in 2014 and, from Oct. 1 ...
One-stop bourse handling stocks and commodities to launch in Japan in summer 2020
Japan Exchange Group Inc. (JPX) and Tokyo Commodity Exchange Inc. said Tuesday they have agreed on a merger to launch the country's first all-in-one exchange that can handle both stocks and commodity futures. The bourses hope that the new exchange, to be introduced in summer ...
More than 40 million people work in artisanal mining, digging precious ore by hand: report
More than 40 million people around the world work in artisanal and small-scale mining where minerals including gold, diamonds and cobalt are dug up often by hand, a report by the World Bank and development organization Pact said on Wednesday. Increasing demand for metals and ...
Gold tub at Japanese resort recognized by Guinness as world's heaviest
An 18-carat gold bathtub weighing 154.2 kilograms at a Japanese hot spring resort has been recognized by Guinness World Records as the heaviest on the planet, the resort's operator said. The tub worth ¥800 million measures 1.3 meters in diameter, large enough to allow two ...
'Good as gold' not good enough: New labels promote ethical metal
Forget how many carats — how ethical is your gold? As high-end consumers demand to know the origin of their treasures, some jewelers are ensuring they use responsibly sourced, eco-friendly or recycled gold. Specialized producers now tack a "fairmined" ecologically friendly label on their output, ...
Venezuela removed 8 tons of central bank gold last week: legislator
At least 8 tons of gold were removed from the Venezuelan central bank's vaults last week, an opposition legislator and three government sources told Reuters, in the latest sign of President Nicolas Maduro's desperation to raise hard currency amid tightening sanctions. The gold was removed ...
Venezuela President Nicolas Maduro has called on Britain to return "more than 80 tons of gold" reserves deposited in London instead of sending humanitarian aid, in an interview with the BBC. Venezuela is in the midst of an economic crisis as millions of people face ...
Two Israeli Tokyo residents arrested over bid to smuggle 220 kg of gold bars into Japan by airmail
The police believe the men belong to a group suspected of similarly smuggling a total of some 4 tons of gold since March 2017, and selling it in Japan.
Three who dressed as policemen in ¥750 million gold bar theft in Fukuoka get prison terms
A court on Monday sentenced three men to up to seven years in prison over the theft of gold bars worth ¥750 million ($6.8 million) in July 2016 in Fukuoka. The Fukuoka District Court ordered seven years in prison for Tomonori Shiraishi, 36, and 5½ ...
Gold smuggling to Japan falls, but concerns remain ahead of planned October tax hike
The amount of gold bullion smuggled into Japan and seized by customs authorities in 2018 is estimated to have fallen by half from the previous year, according to sources. More stringent penalties are believed to have contributed to the plunge. Customs authorities and the National Tax ...
Russia treasure ship rumors rile investor waters in South Korea
A South Korean company's claim to have found a sunken Russian warship has triggered investor frenzy amid speculation the ship was carrying an enormous amount of gold when it sank 113 years ago. South Korea's financial regulator subsequently issued a warning against possible investment ...
Japanese court finds three Taiwanese women guilty of smuggling gold in their bras
A Japanese court gave three Taiwanese women suspended sentences Wednesday after finding them guilty of attempting to smuggle gold worth ¥50 million ($453,000) into the country by hiding it in their bras. The Hakodate District Court in Hokkaido handed down one-year prison terms to Qiu ...
