DIRS.INFO The most relevant business & tech news

☆ Approval of Japan PM Kishida's gov't hits new low, no help from economic plan
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +2 min

Support slid to 42% in a poll conducted by the Nikkei newspaper at the weekend, the lowest since Kishida took office in October 2021. Approval edged up slightly in a Kyodo news agency survey to 37.6% from 35% at the start of October. read moreThe Unification Church, founded in South Korea in the 1950s and famous for its mass weddings, has been fending off criticism for the means by which it collects donations. In the Kyodo poll, nearly 80% of respondents thought the LDP should expand its investigation into the church. A poll earlier this month showed it had slid to 27.4%, a level low enough to make it difficult to carry out policy.

☆ Analysis: Wages, not yen, key to when Japan shifts away from ultra low rates
▼ + stars: | 2022-10-26 | by ( Leika Kihara | ) www.reuters.com time to read: +5 min

"It's a once-in-a-lifetime opportunity for Japan to finally see a positive wage-inflation cycle kick off," said one of the sources. Were the BOJ to tweak YCC, the most likely first step would be either to hike the 10-year yield target, or widen the implicit 50-basis-point band set around it. LOW RATES NOT FOREVERThe BOJ rules out using rate hikes to stem yen falls, as Japanese law gives the government, not the central bank, jurisdiction over exchange-rate policy. In April, dovish board member Asahi Noguchi said wages must rise by nearly 3% for the BOJ to tweak its ultra-loose policy. Yields on super-long bonds have risen to multi-year highs despite the BOJ's aggressive bond buying, casting doubt on the effectiveness of YCC.

☆ Japan keeps warning on market volatility, raises view on capex in report
▼ + stars: | 2022-10-25 | by ( Kantaro Komiya | ) www.reuters.com time to read: +3 min

TOKYO, Oct 25 (Reuters) - Japan reiterated a warning that "full attention" should be paid to market volatility in its monthly economic report published on Tuesday, following the government's repeated market interventions in the wake of the yen's slide to a 32-year low. The October economic report kept the overall assessment of the economy unchanged for a fourth month, saying it was in a moderate recovery, though it raised its view on business spending while downgrading its assessment of imports. On private consumption, which accounts for more than half of Japanese gross domestic product, the government kept its view that it was moderately picking up. Service spending was rising, but consumer sentiment has tumbled due to inflation, especially among low-income earners, the official said. ($1 = 148.8400 yen)Register now for FREE unlimited access to Reuters.com RegisterReporting by Kantaro Komiya; Editing by David HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ Japan PM appoints ex-health min Goto as next economy minister
▼ + stars: | 2022-10-25 | by ( Kantaro Komiya | ) www.reuters.com time to read: +1 min

TOKYO, Oct 25 (Reuters) - Japanese Prime Minister Fumio Kishida on Tuesday appointed former health minister Shigeyuki Goto as the next economy minister after the incumbent abruptly resigned amid criticism over his links to a controversial religious group. Speaking to reporters on Tuesday, Kishida said he picked Goto based on his "political experience, high presentation skills and passion for economic and social reforms." Register now for FREE unlimited access to Reuters.com RegisterYamagiwa became the first minister to resign from Kishida's government and the highest profile political casualty thus far from a widening scandal sparked by the killing of former Prime Minister Shinzo Abe in July. The suspect in the killing bore a grudge against the Unification Church, alleging it bankrupted his mother, and blamed Abe for promoting it. Register now for FREE unlimited access to Reuters.com RegisterReporting by Kentaro Sugiyama Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

☆ Japanese economic minister steps down over church links
▼ + stars: | 2022-10-24 | by ( Kantaro Komiya | ) www.reuters.com time to read: +3 min

He added that he regretted attending so many church gatherings and giving the organisation recognition as a result. INVESTIGATIONThe church, founded in South Korea in the 1950s and famous for its mass weddings, has came under the spotlight following the July 8 assassination of former Prime Minister Shinzo Abe. Since the killing, evidence has come to light of deep and longstanding ties between the church and LDP members. The LDP has acknowledged that many individual lawmakers have ties to the church but have said there was no organisational link to the party. Critics say the church built ties with politicians in Japan to attract followers and gain legitimacy while politicians gained access to church members for help with campaigns.

☆ Japan, Australia upgrade security pact against China threat
▼ + stars: | 2022-10-23 | by ( ) www.cnbc.com time to read: +3 min

Australia's Prime Minister Anthony Albanese (R) shakes hands with Japanese Prime Minister Fumio Kishida (L) after a press conference as part of their meeting in Perth on October 22, 2022. Tony Mcdonough | AFP | Getty ImagesJapan and Australia on Saturday signed a new bilateral security agreement covering military, intelligence and cybersecurity cooperation to counter the deteriorating security outlook driven by China's increasing assertiveness. In the context of that agreement, Albanese told reporters: "This landmark declaration sends a strong signal to the region of our strategic alignment." The declaration also refers to cooperation in "resisting economic coercion and disinformation" — threats that China is widely accused of. Japan and Australia agreed to cooperate on energy security, which is threatened globally by Russia's invasion of Ukraine.

☆ Japan's stimulus plan must exceed $100 bln, says ruling party executive
▼ + stars: | 2022-10-23 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Oct 23 (Reuters) - Japan's promised economic stimulus must be big enough to exceed the economy's output gap of about 15 trillion yen ($100 billion), a senior ruling party official said on Sunday. "The gap in Japan's gross domestic product (GDP) is now around 15 trillion yen. It's not enough to just fill this gap," said Yoshitaka Shindo, executive acting chairperson of the ruling Liberal Democratic Party's (LDP) policy research council. The remarks add to growing calls among ruling party officials for hefty spending to ease the strain from rising inflation on households. On monetary policy, Shindo said while the Bank of Japan must eventually exit ultra-easy policy, doing so now would be premature as Japan's economy and wage growth remain weak.

☆ Japan PM orders probe into Unification Church
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +1 min

A general view of Tokyo headquarters of the Family Federation for World Peace and Unification, more commonly known as the Unification Church, in Tokyo, Japan August 29, 2022. REUTERS/Kim Kyung-HoonTOKYO, Oct 17 (Reuters) - Japanese Prime Minister Fumio Kishida ordered an investigation on Monday into the Unification Church, after the assassination of former premier Shinzo Abe in July revealed close ties between it and the ruling party. Support for Kishida's government has tumbled to its lowest level since he took office on growing anger about the Liberal Democratic Party (LDP) not fully disclosing its ties to the church. Kishida instructed the culture minister to prepare an investigation into the church under the Religious Corporations Act. Register now for FREE unlimited access to Reuters.com RegisterReporting by Kaori Kaneko; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

☆ Japan Inc strongly backs defence spending, many firms near limit on weak yen
▼ + stars: | 2022-10-12 | by ( Rocky Swift | ) www.reuters.com time to read: +4 min

read moreAmidst those threats and rising geopolitical tensions following Russia's invasion of Ukraine, Prime Minister Fumio Kishida has pledged to "substantially" boost defence spending, which remains under his ruling party's goal of 2% of GDP. Register now for FREE unlimited access to Reuters.com RegisterThe latest Reuters poll showed that 81% of Japanese companies were in favour of raising defence spending to that level. read moreHalf of firms polled expect the weak yen to hurt profits through the end of January, compared with 29% who expected it would boost earnings. read moreSLUGGISH GROWTHAmong those hurt by the weak yen, 64% said they were coping by raising prices, the most common response. The Reuters Corporate Survey, conducted for Reuters by Nikkei Research, canvassed 495 big, non-financial Japanese firms on condition of anonymity, allowing them to speak more freely.

☆ Japan Inc strongly backs defence spending, many firms near limit on weak yen - Reuters poll
▼ + stars: | 2022-10-12 | by ( Rocky Swift | ) www.reuters.com time to read: +4 min

Register now for FREE unlimited access to Reuters.com RegisterThe latest Reuters poll showed that 81% of Japanese companies were in favour of raising defence spending to that level. And in last month's poll, three quarters of firms said they were concerned about a geopolitical crisis around Taiwan. read moreHalf of firms polled expect the weak yen to hurt profits through the end of January, compared with 29% who expected it would boost earnings. read moreSLUGGISH GROWTHAmong those hurt by the weak yen, 64% said they were coping by raising prices, the most common response. The Reuters Corporate Survey, conducted for Reuters by Nikkei Research, canvassed 495 big, non-financial Japanese firms on condition of anonymity, allowing them to speak more freely.

Mourners offer flowers at the altar outside Nippon Budokan Hall which will host a state funeral for former Prime Minister Shinzo Abe in Tokyo, Japan September 27, 2022. REUTERS/Issei KatoTOKYO, Sept 27 (Reuters) - Two months after he was assassinated, Shinzo Abe is still stirring controversy, evidence of how the polarising former premier's legacy is shaping Japanese politics on everything from defence to monetary policy. Japan's longest-serving prime minister was a divisive figure who was dogged by scandals. That's a reflection of how Abe transformed both the LDP and Japan's policy landscape, experts say. That could mean more of the ultra-loose policy and fiscal stimulus set in motion under "Abenomics".

A portrait of Shinzo Abe hangs above the stage during the state funeral for Japan's former prime minister Shinzo Abe on September 27, 2022 at the Budokan in Tokyo, Japan. Several current and former heads of state visited Japan for the state funeral of Abe, who was assassinated in July while campaigning on a street. read moreIn one part of downtown Tokyo, protesters waved signs and chanted "No state funeral" to the tune of a guitar. DIVISIVE FIGUREJapan's longest-serving prime minister was a divisive figure who was dogged by scandals. read moreThe state funeral for Abe, who received a private funeral days after his assassination, was the first for an ex-premier since one in 1967 for former Prime Minister Shigeru Yoshida.

☆ Explainer: Why Japan is divided over Shinzo Abe's state funeral
▼ + stars: | 2022-09-24 | by ( ) www.reuters.com time to read: +4 min

Japan's last fully state-funded funeral for a prime minister was for Shigeru Yoshida in 1967. Prime Minister Fumio Kishida announced his intention to host the state funeral six days after Abe was slain. But as evidence of links between the LDP and the Unification Church mounted and the estimated costs of the funeral rose, opinion shifted. He has acknowledged the funeral lacks overwhelming public support but has repeatedly sought to justify his decision. He has praised Abe's domestic and diplomatic contributions as well as his legacy of his lengthy tenure as reasons why a state funeral is warranted.

☆ Japan's funeral for divisive slain PM Shinzo Abe fuels backlash
▼ + stars: | 2022-09-23 | by ( Elaine Lies | ) www.reuters.com time to read: +4 min

Some 62% of respondents in a recent poll by the Mainichi newspaper said they opposed holding a state funeral for Abe. Holding a state funeral "was a big miscalculation" for Kishida, said Tomoaki Iwai, an expert on Japanese politics and professor emeritus at Nihon University. The opposition to the funeral reflects how divisive Abe remains in Japanese society. A private funeral for Abe was held on July 12, four days after his killing. About 50 heads of state or government are expected, and media reports say Kishida may meet with around 30 of these.

☆ Japan PM says to ease COVID border control requirements next month
▼ + stars: | 2022-09-22 | by ( John Mccrank | ) www.reuters.com time to read: +3 min

Japan has maintained some of the strictest border measures among major economies since the pandemic's onset, having effectively blocked entry to visitors for two years until it began a gradual reopening in June. "COVID-19, of course, interrupted all of these benefits, but from October 11, Japan will relax border control measures to be on par with the U.S., as well as resume visa-free travel and individual travel," he said. Japan's insistence that visitors obtain visas to enter the country and then adhere to planned, package tours has been a major sticking point. Prior to the pandemic, Japan had visa waiver agreements with nearly 70 countries and regions, including the United States, the European Union, and many Asian neighbors. From October 11, Japan will restore individual tourism and visa-waiver travel to people from certain countries as long as they are vaccinated.

David Malpass, president of the World Bank Group, arrives for a meeting with Japan's Prime Minister Fumio Kishida (not in picture) at Kishida's official residence in Tokyo, Japan September 13, 2022. The president of the United States, the largest World Bank shareholder, traditionally nominates World Bank presidents, subject to confirmation by the bank's board. Asked for comment on Malpass' Tuesday remarks, a spokesperson for Canadian Finance Minister Chrystia Freeland said that the World Bank plays a crucial role in driving climate change action. "(The) World Bank leadership must fully stand behind this global initiative," the spokesperson, Adrienne Vaupshas, said. U.S. lawmaker Maxine Waters, head of the House of Representatives' financial services committee, said Malpass' comments call into question the World Bank's commitment to addressing climate change.

☆ Japanese man sets himself on fire in apparent protest at former PM state funeral - media
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +3 min

Mandatory credit Kyodo via REUTERSTOKYO, Sept 21 (Reuters) - A man set himself on fire near the Japanese prime minister's office on Wednesday in an apparent protest of the government's decision to hold a state funeral for former premier Shinzo Abe, who was assassinated earlier this year, TV Asahi reported. A letter opposing Abe's state funeral was found nearby, media added. His state funeral is set for Sept. 27, with some 6,000 people from Japan and overseas set to take part. The suspect in Abe's death has said the church bankrupted his mother and he felt the former prime minister supported it. Public sentiment was narrowly in favour of a state funeral at the time it was announced, shortly after Abe's death, but opinion has shifted sharply.

☆ Japan govt will spend $24 bln in budget reserves to cope with price hikes
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: 1 min

Register now for FREE unlimited access to Reuters.com RegisterTOKYO, Sept 20 (Reuters) - Japan will spend 3.48 trillion yen ($24.31 billion) in budget reserves to cope with ongoing price hikes and respond to COVID-19, the Ministry of Finance said on Tuesday. The decision was made at a meeting of Prime Minister Fumio Kishida's cabinet. ($1 = 143.1800 yen)Register now for FREE unlimited access to Reuters.com RegisterReporting by Tetsushi Kajimoto Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "Kishida's"

18 mentions found