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Take Five: U.S. housing, the BoE and Tokyo’s Olympics preparations
  + stars: | 2021-06-18 | by ( ) www.reuters.com + 0.00   time to read: +5 min
The PHLX housing index of homebuilders and other housing-related stocks has retreated recently but remains one of this year's outperformers. Haldane has warned of inflationary pressure that might force the BoE to turn off its monetary stimulus taps. Analysts expect no changes to policy after the BoE last month said it would slightly slow the weekly pace of its bond purchases. Money markets price in more than 9 bps of BoE rate hikes by May 2022 -- doubling from the start of the week. A polarised and emotional country is watching as preparations for the Tokyo Olympics, due to start in a month, heat up.
Persons: homebuilding, Andy Haldane's, Haldane, BoE, It's, Yoshihide Suga, Lewis Krauskopf, Vidya Ranganathan, Saikat Chatterjee, Karin Strohecker, Dhara Ranasinghe, Kevin Liffey Organizations: Federal Reserve, BATON The Bank of England, Bank of England, Bank of Japan, Tokyo, PMI, China, bbl, Thomson Locations: U.S, Tokyo, Japan, United States, Australia, Britain, COVID, lockdowns, India, Brazil, Thailand, New York, Singapore
Tokyo Olympics chief wants to allow up to 10,000 Olympics spectators
  + stars: | 2021-06-18 | by ( ) www.cnbc.com + 0.00   time to read: +3 min
People have their photographs taken next to the Olympic Rings on June 03, 2021 in Tokyo, Japan. Media said Omi advised holding the Games without any spectators as the least risky option given the potential for another surge in Covid-19 infections. Prime Minister Yoshihide Suga's government decided on Thursday to ease emergency coronavirus curbs in nine prefectures including Tokyo while keeping some "quasi-emergency" restrictions. Health experts including Omi agreed earlier this week that the number of spectators at domestic events could be raised to 10,000, but only in areas where "quasi-emergency" measures, including limiting restaurant hours, have been lifted. "If the epidemic situation worsened, no spectators and cancelling the Games in the middle (of the event) should be debated," he told Reuters.
Persons: Seiko Hashimoto, Yuichi Yamazaki, Hashimoto, Shigeru Omi, Omi, Yoshihide Suga's, Hiroshi Nishiura Organizations: Olympic Rings, Getty, International Olympic Committee, International Paralympic Committee, Tokyo Metropolitan, Media, World Health Organization, Kyoto University, Reuters Locations: Tokyo, Japan
The blueprints provide a basis for the next fiscal year's budget. "It's true the situation is severe" for Japan to meet its primary budget surplus in fiscal 2025, Finance Minister Taro Aso told reporters after the cabinet approved the blueprint. Still, "we will strive to achieve both economic growth and fiscal reform," he said. "It's difficult to achieve a primary budget surplus in fiscal 2025, as coronavirus impacts linger in public finances while pressure will mount on boosting green-related spending," said Takuya Hoshino, economist at Dai-ichi Life Research Institute. Having pushed back the target a few times, Japan has pledged to meet a primary budget surplus, which excludes new bond sales and debt servicing costs, by the fiscal year-end in March 2026.
Persons: Kim Kyung, Suga, Yoshihide Suga, Taro Aso, Takuya Hoshino, Hoshino, Tetsushi Kajimoto, Kim Coghill Organizations: REUTERS, Dai, Research, Thomson Locations: Tokyo, Japan, TOKYO
read moreBelow are details on what the scheme could look like and what other steps the BOJ might take to address climate change:HOW WILL IT WORK? Depending on upcoming discussions, the BOJ may decide to offer incentives such as paying financial institutions 0.1% interest for tapping the scheme to encourage them to boost green loans and investment. The approach may be a smoother way to aid green innovation in Japan, where many companies rely more on bank loans than tapping financial markets for funds. The long time horizon of climate change, spanning several decades, could also force the BOJ to maintain the scheme for longer than it wants and make any exit difficult. Aside from the new scheme, the BOJ will unveil later this year a list of non-monetary policy steps it will take on climate change, such as research and analyses on the financial risks associated with climate change.
Persons: Yoshihide Suga, Leika Kihara, Kim Coghill Organizations: Bank of Japan, CENTRAL, Financial Services Agency, Thomson Locations: TOKYO, Japan
The 4.3 MW "typhoon-class" turbines have been designed to cope with the "very high wind speeds" seen in Japan, Siemens Gamesa explained. The 339.7 megawatt Dohuku project will be located on the island of Hokkaido, Siemens Gamesa said in a statement Wednesday, and consist of four facilities set to be developed by Japan's Eurus Energy. Siemens Gamesa Renewable Energy is to supply 79 "typhoon-proof turbines" to a major onshore wind development in Japan, as the country attempts to reduce its reliance on fossil fuels and develop more renewable energy installations. Last October, Japan's Prime Minister, Yoshihide Suga, said the country would target net zero greenhouse gas emissions by the year 2050. This year has still seen a number of interesting renewable energy projects take shape in the country, however.
Persons: Siemens Gamesa, Yoshihide Suga Organizations: Siemens, Japan's Eurus Energy, Siemens Gamesa Renewable Energy, Japan's, Agency, Natural Resources, Energy, Japan, International Energy Agency, Mitsui Locations: Japan, Hokkaido, Scotland
Path for Olympics Clears After Japan Declares End to State of Emergency
  + stars: | 2021-06-17 | by ( Alastair Gale | ) www.wsj.com sentiment -0.98   time to read: +1 min
TOKYO—Japan cleared the way for holding the Summer Olympics on schedule by setting an end to its state of emergency and lifting vaccinations to about a million shots a day. Covid-19 infection rates in Japan have fallen by around 70% since an emergency order was imposed in Tokyo in late April, requiring restaurants and bars to close early and not to serve alcohol. Mr. Suga said the state of emergency would end Monday. Pressure on the medical system has also eased, with more than half of the hospital beds for Covid patients now vacant in Tokyo. Mr. Suga said the daily average of vaccinations now exceeds one million, accelerating sharply over the past few weeks.
Persons: Yoshihide Suga, Suga Organizations: Games, Locations: TOKYO, Japan, Tokyo
Japan to ease state of emergency, focus on Games spectators
  + stars: | 2021-06-17 | by ( ) www.reuters.com + 0.00   time to read: +4 min
Prime Minister Yoshihide Suga is due to announce a decision later on Thursday on the state of emergency for 10 prefectures, which expires on June 20. Having barred foreign spectators, Japan is due to decide this month on whether to allow domestic spectators at the Games and looks likely to keep some restrictions on crowd numbers. Under "quasi-emergency" measures, just like under a state of emergency, spectators at major events are limited to 5,000 or half of a venue's capacity, whichever is smaller. read moreThe Mainichi and other media reported the government was aiming to allow spectators into the Games, using the 10,000 cap. Meanwhile, Kato said Japan aims to introduce vaccine passports by around late July in an effort to ease travel restrictions.
Persons: Issei Kato, Yoshihide Suga, Yasutoshi Nishimura, Nishimura, Shigeru Omi, Omi, Katsunobu Kato, Kato, Yuka Obayashi, Ritsuko Ando, Lincoln Organizations: Olympic Games, REUTERS, NHK, Tokyo, Games, Public, Kyodo, Thomson Locations: Tokyo, Japan, NHK TOKYO
Live Covid Live Updates: South Asia, Battling Outbreaks, Scrambles for Vaccines India’s halt to exports threatens inoculation drives across the region. Some restrictions will remain in place in the capital and in six other areas until at least July 11, officials said. Emergency measures in Okinawa will remain in effect for three more weeks, officials said. More than 684,000 vaccine doses were administered on Wednesday, twice as many as a month ago, based on government data. Tokyo has been under a state of emergency since late April, the third since the start of the pandemic.
Persons: Charly Triballeau, Yoshihide Suga, Shigeru Omi, , John Coates Organizations: European, U.S, Agence France, Olympic, New York Times, International Olympic Committee Locations: Asia, European Union, Tokyo’s, Tokyo, Japan, Okinawa
Japan PM Suga urges Japanese to watch Olympics on TV to prevent spread of COVID-19
  + stars: | 2021-06-17 | by ( ) www.reuters.com sentiment -0.99   time to read: +1 min
Japanese Prime Minister Yoshihide Suga, next to the mascots of Tokyo 2020 Olympic and Paralympic Games, speaks to media after announcing that Tokyo, Kyoto and Okinawa will be applied for pre-emergency status under a new prevention law during a government task force meeting at the prime minister's office in Tokyo, Japan April 9, 2021. Eugene Hoshiko/Pool via REUTESR/File PhotoTOKYO, June 17 (Reuters) - Japanese Prime Minister Yoshihide Suga on Thursday called on the public to watch the upcoming Tokyo Olympics on TV to avoid the spread of COVID-19 infections, as the organisers debate whether to allow domestic spectators into Olympic venues. Suga, speaking at a news conference to announce the lifting of some COVID-19 restrictions in Tokyo and several other areas, said that the most important thing was to avoid a rebound in the number of infections and the collapse of the medical system. Reporting by Antoni Slodkowski; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.
Persons: Yoshihide Suga, Eugene Hoshiko, Antoni Slodkowski, Alex Richardson Organizations: Paralympic Games, Olympic, Thomson Locations: Tokyo, Kyoto, Okinawa, Japan, TOKYO, COVID
Live Covid Live Updates: Ahead of Olympics, Tokyo’s State of Emergency to Be Relaxed Japan’s latest outbreak is receding and vaccinations are slowly picking up, but health experts warn that the government must remain vigilant. Tokyo has been under a state of emergency since late April, the third since the start of the pandemic. Credit Credit... Jeremy Woodhouse/Getty ImagesThe U.S. will spend $3 billion on developing antiviral pills to treat Covid-19. Contrary to some social media posts, his condition was not because he had received a coronavirus vaccine. Mr. Cummings said Mr. Raab did a far better job than Mr. Johnson in leading the government’s response to the pandemic.
Persons: Charly Triballeau, Yoshihide Suga, Shigeru Omi, , John Coates, Mahal, Money Sharma, Taj, Shah Jahan, Mumtaz Mahal, Taj Mahal, , Vasant Kumar Swarnkar, ” Kamlesh Tiwari, Mumtaz, Jeremy Woodhouse, Anthony Fauci, Emilio Parra Doiztua, ” Jean Castex, Monika Pronczuk, Isabella Kwai, Christian Eriksen, Martin Meissner, Eriksen, Piero Volpi, Volpi, Mr, Fabrice Muamba, Muamba, Eriksen “, Linda Qiu, Amr Alfiky, Bill de Blasio, de Blasio, Andrew M, Cuomo, Andrew Ward, You’ve, Springsteen, haven’t, “ Springsteen, Walter Kerr, Eduardo Munoz, Bruce Springsteen, Johnson, Truth, James, Bruce, I’ve, Springsteen’s, Boris, Dominic Cummings, Boris Johnson, Facundo Arrizabalaga, Johnson’s, Cummings, Matt Hancock, Hancock, Dominic Raab, Raab, Marcel Kuttab, Katherine Taylor, Parosmia, parosmia Organizations: Agence France, Olympic, New York Times, International Olympic Committee, Survey, Credit, Getty, Department of Health, Human Services, Pandemics, Trump, National Institute of Allergy, World Health Organization, Emory University, The New York, European Union, European, European Commission, European Medicines Agency, Italian, Inter Milan, Finland, Inter, Gazzetta Dello Sport, Pfizer, Twitter, Radio Sportiva, Inter Milan’s, Gazetta, Serie, Bolton Wanderers, Tottenham Hotspur, Sky Sports, American College of Cardiology, New England, of Medicine, Disease Control, Residents, New York Times New, Gov, Williams, Broadway, Walter, Walter Kerr Theatre, Reuters, U.S . Food, Drug Administration, Moderna’s, BioNTech’s, AstraZeneca, Toronto Star, James Theater, The New York Times, Facebook Locations: Tokyo’s State, South Asia, U.S, Tokyo’s, Tokyo, Japan, Okinawa, India, Agra, Mahal, Mumbai, Delhi, Uttar Pradesh, Pakistan, ., Europe, Madrid, Spain, Greece, lockdowns, France, United States, Britain, Republic of Ireland, Moscow, European Union, Australia, South Korea, Albania, Lebanon, North Macedonia, Serbia, Germany, Denmark, Finland, Danish, Inter Milan, Copenhagen, English, New York City, Lucerne, New York Times New York City, Manhattan, Brownsville , Brooklyn, New York, Canada, U.S.A, York’s St, New York State, British, Shutterstock
Live Covid Live Updates: Outbreak Forces Lockdown at U.S. Embassy in Kabul as Virus Surges Across Afghanistan Japan will relax its state of emergency as its latest outbreak recedes and vaccinations slowly pick up. Gretchen Whitmer announced Thursday that most of the state’s coronavirus restrictions would be lifted earlier than planned. As of Thursday, the state’s coronavirus tracker showed that only 61 percent of residents had received at least one shot. Video transcript Back bars 0:00 / 0:35 - 0:00 transcript Tokyo Relaxes Coronavirus Restrictions Ahead of Olympics Prime Minister Yoshihide Suga announced that Japan would ease emergency coronavirus restrictions before next month’s Olympic Games. Credit Credit... Jeremy Woodhouse/Getty ImagesAdvertisement Continue reading the main storyThe U.S. will spend $3 billion on developing antiviral pills to treat Covid-19.
Persons: Whitmer, Gretchen Whitmer, Emily Elconin, ” Governor Whitmer, , Donald J, Trump, , Ned Price, Price, Biden, Thomas Gibbons, Neff, Fatima Faizi, Yoshihide Suga, Charly Triballeau, Shigeru Omi, , John Coates, Nathan Papes, hospitalizations, Hilary Babcock, Louis, Dr, Babcock, Branson, We’re, Robert Knodell, Mahal, Money Sharma, Taj, Shah Jahan, Mumtaz Mahal, Taj Mahal, Vasant Kumar Swarnkar, ” Kamlesh Tiwari, Mumtaz, Jeremy Woodhouse, Anthony Fauci, Anna Watts, Elizabeth A . Rohan, Rohan, Christian Eriksen, Martin Meissner, Eriksen, Piero Volpi, Volpi, Mr, Fabrice Muamba, Muamba, Eriksen “, Linda Qiu, Verónica, Sarah Mervosh, Boris, Dominic Cummings, Boris Johnson, Facundo Arrizabalaga, Johnson’s, Cummings, Matt Hancock, Hancock, Johnson, Dominic Raab, Raab, Marcel Kuttab, Katherine Taylor, Parosmia, parosmia Organizations: Embassy, Gov, Sunday, Reuters, State Capitol, Michigan Capitol, U.S . Embassy, ., State Department’s, Afghan, U.S ., Taliban, Olympics, Games, Tokyo Games, Credit, Agence France, Olympic, New York Times, International Olympic Committee, Springfield News, Associated Press, Washington University, BJC Healthcare, , Missouri Department of Health, for Disease Control, Ozarks, Kansas City, Survey, Department of Health, Human Services, Pandemics, Trump, National Institute of Allergy, World Health Organization, Emory University, The New York Times, Centers for Disease Control, Qualtrics, Initiative, Prevention, Italian, Inter Milan, Finland, Inter, Gazzetta Dello Sport, Pfizer, Twitter, Radio Sportiva, Inter Milan’s, Gazetta, Serie, Bolton Wanderers, Tottenham Hotspur, Sky Sports, American College of Cardiology, New England, of Medicine, Disease Control, University of Texas, Biden, Facebook Locations: Kabul, Afghanistan Japan, U.S, Michigan, Detroit, Lansing, ” New Mexico , Oregon, Washington, Hawaii, Jackson, Flint, Monroe, Afghanistan, Reuters KABUL, The U.S, United States, Tokyo’s, Tokyo, Japan, Okinawa, Branson, Missouri, Missouri’s, St, Taney, Stone, Miller, American, ” State, India, Delta, Brazil, Kansas, Agra, Mahal, Mumbai, Delhi, Uttar Pradesh, Pakistan, ., Denmark, Finland, Danish, Inter Milan, Copenhagen, English, University of Texas Rio Grande, Brownsville , Texas, United, British, Shutterstock, Britain
Japan vows 'safe and secure' Olympics in economic blueprint - draft
  + stars: | 2021-06-16 | by ( Takaya Yamaguchi | ) www.reuters.com sentiment -0.99   time to read: +2 min
Workers attach the Tokyo 2020 Olympic Games banner on a lamp post in Tokyo, Japan, June 16, 2021. An earlier draft blueprint only called for making the Olympics leave "various legacies" behind, while the final version appeared to stress the government's resolve to go ahead with the Games. "(We) will realise the safe and secure Games while creating various legacies," the draft said. It called for doubling outstanding foreign direct investment in Japan to 80 trillion yen ($727.80 billion) by 2030. "We will strive to make the size of the economy 600 trillion yen and achieve the aim of fiscal reform."
Persons: Yoshihide Suga, coronavirus, Takaya Yamaguchi, Leika Organizations: REUTERS, Tokyo Olympic Games, Reuters, Games, Thomson Locations: Tokyo, Japan, TOKYO, Britain
International Olympic Committee (IOC) Vice President and Tokyo 2020 Olympic Games Coordination Commission Chairman John Coates arrives at Haneda Airport in Tokyo, Japan June 15, 2021. REUTERS/Issei KatoOlympics organisers prepared on Tuesday to unveil their latest "playbook" of rules to control COVID-19 infections as Japan's government pondered whether to extend a state of emergency and senior Olympics official John Coates arrived in Tokyo. Organisers' rules already mandate wearing masks by athletes and others in most situations and frequent testing for COVID-19. Just under one-third wanted the Games cancelled while 61% wanted either a cap on spectators or no spectators at all. Organisers have already decided against allowing spectators from abroad and will make a call on domestic spectators later this month.
Persons: John Coates, Issei Kato, Yasutoshi Nishimura, Japan's, Tamayo Marukawa, Yoshihide Suga, Jeff Shell, Moon Jae, Suga Organizations: Olympic Committee, REUTERS, Olympics, International Olympic Committee, Games, Pfizer Inc, Kyodo, IOC, NHK, Comcast Corp, Yomiuri, South, Thomson Locations: Tokyo, Japan, Tokyo . Coates, Seoul, South Korea
S.Korea holds drills around disputed islets amid row over cancelled Japan talks
  + stars: | 2021-06-15 | by ( Hyonhee Shin | ) www.reuters.com sentiment -1.00   time to read: +2 min
Seoul and Tokyo have been at odds over the sovereignty of the islets called Dokdo in South Korea and Takeshima in Japan, which lie about halfway between the neighbours in the Sea of Japan, also known as the East Sea. The decades-long territorial row was rekindled after South Korea lodged a protest over a map on the Tokyo Olympics website marking the islands as Japanese territory. South Korea asked the International Olympic Committee to mediate the dispute, and some South Korean politicians called for a boycott of the Games. The Korean drills around the islets have taken place twice a year since 1986, prompting frequent protests from Japan. "We've protested to the South Korean government and called for them to be halted."
Persons: Yoshihide Suga, Moon Jae, Japan's, Katsunobu Kato, Kato, We've Organizations: Tokyo Olympics, International Olympic, South, Reuters, South Korean, Thomson Locations: Japan, Seoul, Tokyo, South Korea, Korea, England
Japan lawmakers vote down no-confidence motion against cabinet
  + stars: | 2021-06-15 | by ( ) www.reuters.com sentiment -0.99   time to read: +1 min
Japan's Prime Minister Yoshihide Suga attends a cabinet meeting at his official residence in Tokyo, Japan April 13, 2021, in this photo taken by Kyodo. Kyodo/via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. NO COMMERCIAL OR EDITORIAL SALES IN JAPANJapan's lower house of parliament voted down on Tuesday a no-confidence motion brought against the cabinet of Prime Minister Yoshihide Suga by opposition parties angered over its refusal to extend the current parliamentary session. Though Japan has not suffered the ravages of other nations over the coronavirus, its slowness in vaccinating citizens and patchy response have dented support for Suga. That was the highest disapproval rating since the prime minister took office last September, but the majority held by his Liberal Democratic Party and other coalition partners meant the no-confidence motion had always been unlikely to pass.
Persons: Yoshihide Suga, Yukio Edano, Suga Organizations: Japan's, Kyodo, JAPAN, Tokyo, Constitutional Democratic Party of Japan, NHK, Liberal Democratic Party, Thomson Locations: Tokyo, Japan
United States President Joe Biden's plan to unite Washington's closest allies and take on China just scored a big political win. The G7 confronted China on just about every sore spot, from allegations of human rights abuses and forced labor in Xinjiang to ongoing political disputes over Hong Kong, Taiwan and the South China Sea. China still fired back against the statement, accusing the G7 of deliberately slandering China" and "arbitrarily interfering in China's internal affairs." Under Biden, the United States recently expanded a ban on American investment in dozens of Chinese firms. In his statement reported by Xinhua, the Chinese President said it was important to "maintain overall social stability and create a good atmosphere for the Party's centenary."
Persons: Joe Biden's, Washington's, Xi, Donald Trump, Trump, Angela Merkel, Emmanuel Macron, Yoshihide Suga, Queen Elizabeth II, Justin Trudeau, Mario Draghi, Joe Biden, Biden, China's mercantilist, Alex Capri, Hinrich, , Xi Jinping, Qu Yuan Organizations: CNN, US, United, Washington, Embassy, Canadian, Trump, Huawei, Hinrich Foundation, National University of Singapore, Mecrator Institute of China Studies, Eurasia Group, CNN . Rescue, Xinhua, Communist Locations: China, States, United Kingdom, Germany, France, Italy, Canada, Xinjiang, Hong Kong, Taiwan, South China, Taiwan Strait, London, Italian, St Austell , Cornwall, England, Beijing, Europe, United States, Britain, Asia, Korea, New Zealand, China's Hubei Province, China's Hubei, Zhangwan, Shiyan, Heilongjiang province, Shenzhen, Hubei, Tianjin
"G7 leaders have utterly failed to face up to the challenges facing the world," said Nick Dearden, director of campaign group Global Justice Now. This summit proves beyond all doubt that the G7 is not fit for purpose," Dearden said. In a note Monday, Paul Donovan, chief economist at UBS Global Wealth Management, referred to the G-7 as a "selfie summit." "The main focus of the G7 meeting (the photo opportunity) seemed to go well. Extinction Rebellion (XR) activists take part in the "Sound The Alarm" march during the G7 summit in Cornwall on June 11, 2021 in St Ives, Cornwall, England.
Persons: Charles Michel, Joe Biden, Yoshihide Suga, Boris Johnson, Mario Draghi, Leon Neal, Nick Dearden, Dearden, Paul Donovan, Donovan, Jeff J Mitchell Organizations: European, Japanese, Italian, Getty, Hong, Sino, U.S, of British Industry, Global, EU, European Commission, European Council, UBS Global Wealth Management, WHO, World Trade Organization Locations: U.S, British, Carbis, Carbis Bay, Cornwall, China, England, Xinjiang, Hong Kong, Canada, France, Germany, Italy, Japan, Australia, India, South Korea, United States, St Ives, South Africa, Switzerland, Norway, Brazil
Japan's Cabinet to face no-confidence motion from opposition parties - Kyodo
  + stars: | 2021-06-14 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
Japan's Prime Minister Yoshihide Suga bows in front of the national flag at a news conference after the government's decision to exted a state of emergency amid coronavirus disease (COVID-19) pandemic, at the prime minister's official residence in Tokyo, Japan May 28, 2021. Behrouz Mehri/Pool via REUTERSJapanese Prime Minister Yoshihide Suga's Cabinet will face a no-confidence motion from opposition parties over its refusal to extend the current parliamentary session, the Kyodo news agency reported on Monday, though it is very unlikely to succeed. The opposition parties plan to submit the motion on Tuesday, Kyodo said, citing Yukio Edano, the leader of the main opposition Constitutional Democratic Party of Japan. The move is almost certain to fail as Suga's Liberal Democratic Party (LDP) and its coalition partners hold a majority of seats in the lower house of parliament. The opposition has called for extending the parliamentary session for three months beyond its scheduled last day on Wednesday to respond to the COVID-19 pandemic.
Persons: Yoshihide Suga, Behrouz, Yoshihide Suga's, Kyodo, Yukio Edano, Suga Organizations: Japan's, Kyodo, Constitutional Democratic Party of Japan, Liberal Democratic Party, Tokyo Olympics, Thomson Locations: Tokyo, Japan, Britain
Japan denies reports of S. Korean president visit, summit during Olympics
  + stars: | 2021-06-14 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
South Korean President Moon Jae-in in Washington, U.S., May 21, 2021. REUTERS/Sarah SilbigerJapan on Tuesday denied a media report that South Korean President Moon Jae-In is arranging a visit to Japan timed with the Tokyo 2020 Olympics, as well as talks with Japanese Prime Minister Suga. The relationship between Asian neighbours South Korea and Japan has soured in recent years due to disputes over trade and war-time history, most recently over lawsuits by South Korean victims of wartime forced labour seeking compensation from Japanese firms. "There is no truth to that report," chief cabinet secretary Katsunobu Kato told a news conference, declining to comment further. A South Korean government official said: "We wish a successful Olympics but have no comment on whether President Moon will visit Tokyo."
Persons: Moon Jae, Sarah Silbiger, Suga, Yoshihide Suga, Katsunobu Kato, Moon Organizations: South, REUTERS, Tokyo, Japanese, Korean, Tokyo Olympics, Thomson Locations: Washington , U.S, Sarah Silbiger Japan, Japan, South Korea, Tokyo
G7 split on reallocating $100 billion IMF funds to COVID-hit nations
  + stars: | 2021-06-13 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +1 min
Leon Neal/Pool via REUTERSCARBIS BAY, England (Reuters) - Group of Seven leaders were trying to resolve differences over a proposal to reallocate $100 billion from the International Monetary Fund’s warchest to help countries struggling to cope with the COVID-19 crisis. An almost final version of the G7 communique seen by Reuters showed Germany and Italy had yet to back the inclusion of the $100 billion figure in the final statement by leaders. The IMF’s members agreed in April to a $650 billion increase in IMF’s Special Drawing Rights and the G7 countries are considering whether to reallocate $100 billion of their rights to help poor countries fight the COVID pandemic. SDRs are the IMF’s reserve asset, and are exchangeable for dollars, euros, sterling, yen and Chinese yuan or renminbi. Member states can loan or donate their SDR reserves to other countries for their use.
Persons: Boris Johnson, Joe Biden, Emmanuel Macron, Justin Trudeau, Yoshihide Suga, Charles Michel, Mario Draghi, Scott Morrison, Angela Merkel, Cyril Ramaphosa, Moon Jae, Leon Neal, Kristalina Georgieva Organizations: British, Canadian, European, Australia's, Seven, International Monetary, Reuters, IMF Locations: U.S, Japanese, Italian, German, Carbis Bay, Cornwall, Britain, CARBIS BAY, England, Germany, Italy
Biden reaffirms support for Tokyo Olympics to Japan's Suga
  + stars: | 2021-06-13 | by ( Antoni Slodkowski | ) www.reuters.com + 1.00   time to read: +1 min
The Olympic rings are illuminated in front of the National Stadium in Tokyo, Japan January 22, 2021. REUTERS/Kim Kyung-HoonU.S. President Joe Biden reaffirmed his support for the Tokyo Olympics at a meeting with the Japanese Prime Minister Yoshihide Suga on Saturday, highlighting the necessity of imposing public health measures ensuring the safety of those involved. "President Biden affirmed his support for the Tokyo Olympic Games moving forward with all public health measures necessary to protect athletes, staff and spectators," it said. "President Biden expressed pride in the U.S. athletes who have trained for the Tokyo Games and will be competing in the best traditions of the Olympic spirit," it said. Tokyo 2020 would be "grateful" if G7 countries could support the Summer Games going ahead as planned, Tokyo 2020 organising committee president Seiko Hashimoto said on Friday.
Persons: Kim Kyung, Joe Biden, Yoshihide Suga, Suga, Biden, Suga's, Seiko Hashimoto Organizations: REUTERS, Hoon U.S, Tokyo, Japanese, Tokyo Olympic, Tokyo Games, Olympic Committee, Thomson Locations: Tokyo, Japan, Carbis Bay, North Korea, China, U.S, Washington
G-7 nations agree to boost climate finance, details missing
  + stars: | 2021-06-13 | by ( ) www.cnbc.com sentiment -0.98   time to read: +2 min
Alongside plans billed as helping speed infrastructure funding in developing countries and a shift to renewable and sustainable technology, the world's seven largest advanced economies again pledged to meet the climate finance target. A spokesman for British Prime Minister Boris Johnson said individual nations were expected to set out the size of the increases "in due course." There was a clear push by leaders at the G-7 summit in southwestern England try to counter China's increasing influence in the world, particularly among developing nations. "As democratic nations, we have a responsibility to help developing countries reap the benefits of clean growth through a fair and transparent system. The G-7 has an unprecedented opportunity to drive a global Green Industrial Revolution, with the potential to transform the way we live."
Persons: Angela Merkel, Ursula von der Leyen, Emmanuel Macron, Yoshihide Suga, Queen Elizabeth II, Justin Trudeau, Boris Johnson, Mario Draghi, Charles Michel, Joe Biden, Japan —, Johnson Organizations: Canadian, British, European, United, The, Reuters, Industrial Locations: Italian, The Eden, St Austell , Cornwall, England, United States, Britain, Canada, France, Germany, Italy, Japan
Factbox: China, climate and vaccines - what the G7 agreed this weekend
  + stars: | 2021-06-13 | by ( ) www.reuters.com + 0.00   time to read: +4 min
CLIMATE CHANGE - The G7 said it would meet a long overdue funding pledge of $100 billion a year by rich countries to help poorer ones cut emissions and cope with global warming. The G7 also promised to halt and reverse biodiversity loss by 2030. read moreCOVID VACCINES - Leaders agreed to donate 1 billion COVID-19 vaccine doses over the next year to poorer countries. RUSSIA - The G7 demanded Russia take action to halt cyber attacks that demand ransoms from businesses in the West. read moreBIDEN AND THE WORLD - Biden was welcomed with open arms by the other G7 leaders after the isolationist stance of Donald Trump. "It’s great to have a U.S. president who’s part of the club and very willing to cooperate," France's Macron said.
Persons: Boris Johnson, Joe Biden, Emmanuel Macron, Justin Trudeau, Yoshihide Suga, Charles Michel, Mario Draghi, Scott Morrison, Angela Merkel, Cyril Ramaphosa, Moon Jae, Leon Neal, Britain's Boris Johnson, Johnson, BIDEN, Biden, Donald Trump, who’s, France's Macron Organizations: British, Canadian, European, Australia's, U.S, United Nations, IMF, International Monetary Fund, Thomson Locations: U.S, Japanese, Italian, German, Carbis Bay, Cornwall, Britain, United States, Japan, Germany, France, Italy, Canada, England, CHINA, Xinjiang, Hong Kong, Africa, Asia, RUSSIA, Russia, Moscow, London, United Kingdom
Against the backdrop of the global pandemic, world leaders met in person for the first time since the coronavirus shut down travel. (L-R) German Chancellor Angela Merkel, European Commission Ursula von der Leyen, French President Emmanuel Macron, Japanese Prime Minister Yoshihide Suga, Queen Elizabeth II, Canadian Prime Minister Justin Trudeau, British Prime Minister Boris Johnson, Italian Prime Minister Mario Draghi, President of the European Council Charles Michel, and US President Joe Biden. It was the first time the heads of these countries met in person since the pandemic shut down travel more than a year ago. The G7 leaders last met in person in France in August 2019, nearly two years ago. In addition to the seven countries normally present, others like South Africa, South Korea, India, and Australia received invitations to attend virtually the 47th Summit.
Persons: Angela Merkel, Ursula von der Leyen, Emmanuel Macron, Yoshihide Suga, Queen Elizabeth II, Justin Trudeau, Boris Johnson, Mario Draghi, Charles Michel, Joe Biden, Jack Hill, Joe Biden — Organizations: Canadian, British, European Locations: Italian, Cornwall, England, France, South Africa, South Korea, India, Australia
Patrick Semansky/Pool via REUTERSThe Group of Seven will seek to rival China’s multi-trillion-dollar Belt and Road initiative on Saturday by announcing a global infrastructure plan to help developing nations, a senior official in U.S. President Joe Biden's administration said. More than 100 countries have signed agreements with China to cooperate in BRI projects like railways, ports, highways and other infrastructure. "So tomorrow we’ll be announcing ‘build back better for the world,’ an ambitious new global infrastructure initiative with our G7 partners that won’t just be an alternative to the BRI," the official said. In March, Biden said he had suggested to British Prime Minister Boris Johnson, hosting the G7 summit, that democratic countries should develop their own rival scheme. There were no specifics on how the global infrastructure scheme would be funded.
Persons: Justin Trudeau, Charles Michel, Joe Biden, Yoshihide Suga, Boris Johnson, Mario Draghi, Emmanuel Macron, Ursula von der Leyen, Angela Merkel, Patrick Semansky, China’s, Joe Biden's, Xi Jinping, Xi, we’ll, Biden Organizations: Canadian, European, Japan's, Italy's, Seven, U.S ., Initiative, U.S, British, LABOUR, Congress, Thomson Locations: U.S, British, Carbis Bay, Britain, United States, China, Beijing, England, Asia, Europe, Communist China, Soviet Union, War, Canada, Germany, Italy, France, Japan, Carbis, Xinjiang
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