Page 46 - Japan

Defence chiefs from US, Oz, Japan, Philippines vow to deepen cooperation

Defence chiefs from the US, Australia, Japan and the Philippines vowed to deepen their cooperation as they gathered on Thursday in Hawaii for their second-ever joint meeting amid concerns about China's operations in the South China Sea. The meeting came after the four countries last month held their first joint naval exercises in the South China Sea, a major shipping route where Beijing has long-simmering territorial disputes with a number of Southeast Asian nations and has caused alarm with its recent assertiveness in the waters. US Defence Secretary Lloyd Austin told reporters at a news conference after their discussion that the drills strengthened the ability of the nations to work together, build bonds among their forces and underscore their shared commitment to international law in the waterway. Australian Defense Minister Richard Marles said the defense chiefs talked about increasing the tempo of their defense exercises. Today, the meetings that we have held represent a very

'Xenophobia' stalling economic growth in China, Japan and India, says Biden

The IMF forecast last month that each country would see its growth decelerate in 2024 from the year prior, ranging from 0.9 per cent in highly developed Japan to 6.8 per cent in emerging India

Yen set for strongest week in over a year; dollar waits on US jobs

The yen rose to a session-high of 152.895 per dollar in early Asia trade and was set to clock a weekly gain of more than 3 per cent , its largest since December 2022

White House defends Biden's statement calling India, China 'xenophobic'

The United States is a country of immigrants, the White House has said, defending President Joe Biden's remarks calling two of his QUAD partners -- India and Japan -- as well as Russia and China "xenophobic" nations, asserting that none of these countries, unlike the US, welcome immigrants. Responding to a question about the remarks made by Biden at an election fundraiser on Wednesday, White House Press Secretary Karine Jean-Pierre said that the president was making a "broader point". He was making a broader point. Our allies and partners know very well that how much this president respects them," Jean-Pierre told reporters at her daily news conference on Thursday. "As you know, in regard to Japan, they were just here for the state visit. The US-Japan relationship is an important relationship. It's a deep, enduring alliance, she said. "He (Biden) was making a more broad comment, speaking about this country and speaking about how important it is to be a country of immigrants and ho

Japan PM Kishida unveils a framework for global regulation of generative AI

Japanese Prime Minister Fumio Kishida unveiled an international framework for regulation and use of generative AI on Thursday, adding to global efforts on governance for the rapidly advancing technology. Kishida made the announcement in a speech at the Paris-based Organization for Economic Cooperation and Development. Generative AI has the potential to be a vital tool to further enrich the world, Kishida said, according to a transcript of his speech provided in advance. But we must also confront the dark side of AI, such as the risk of disinformation." When Japan chaired the Group of Seven leading industrialized nations last year, it launched a Hiroshima AI process to draw up international guiding principles and a code of conduct for AI developers. Some 49 countries and regions have signed up to the voluntary framework, called the Hiroshima AI Process Friends Group, Kishida said, without naming any. They will work on implementing principles and code of conduct to address the risks

Japan's forex intervention may have cost $23.6 bn, BoJ data shows

Analysts point to the gaping gap between Japanese and U.S. government debt yields as the force behind the yen's slide

Mitsubishi CEO says weak yen hurting economy, poses risks to deals abroad

The yen has slid to 34-year lows this year as the Bank of Japan keeps interest rates low, causing investors to buy higher-yielding currencies

Yen surges against US dollar on suspected intervention by Japan authorities

The difficulty in arresting the yen's slide has been made clear by the speed at which the currency has reversed direction after its spike

Asian stocks off to shaky start as US Fed flags delays to rate cuts

Much of Asia is returning from a holiday that had closed markets on Wednesday, though Chinese bond, currency and stock markets remain shut through the rest of the week

South Korea confirms talks on joining AUKUS pact with US, UK and Australia

AUKUS, formed by the three countries in 2021, is part of efforts to push back against China's growing power in the Asia Pacific region.

Bank of Japan upbeat on consumption, rising service prices, pay hikes

The BOJ ended eight years of negative rates and other remnants of its unorthodox policy last month

Will not step down over party's loss in special elections, says Japan's PM

Japanese Prime Minister Fumio Kishida said Tuesday his governing party's major defeat in last weekend's by-elections was largely due to a political fundraising scandal and that he would not step down or replace party executives to take responsibility. Instead, Kishida said he will push anti-corruption measures and political reforms. As I take the results seriously, I believe as president of the governing party we must tackle the challenges we face one by one and achieve results, and this is the way I will take responsibility," Kishida said. By doing so, I will regain the people's trust. Kishida said the scandal dealt a big and heavy hinderance to the party. The scandal centres on dozens of lawmakers in Kishida's Liberal Democratic Party who allegedly pocketed profits from ticket sales to political events by falsifying accounting reports. Asked if he would take responsibility for the election loss, Kishida denied he would step down or replace top LDP posts, and pledged to pursue par

Yen holds on to sharp gains after suspected intervention, Fed in focus

Japanese currency was trading a touch lower 0.16% at 156.56 per dollar, but was well off its 34-year low of 160.245 hit on Monday

Yen hits weakest level since April 1990, trips past 160 per US dollar

The yen's move barely affected the euro and sterling, both of which stayed near the bottom of the ranges hit during Friday's volatile session

Japan's equity renaissance

The Japan story is still in its early days. But the lesson it holds is that companies, regulators, and the broader market micro-system all need to continuously evolve

Japan to launch upgraded observation satellites on new rocket's flight

Japan's space agency announced Friday a plan to launch a major upgrade to its satellite imaging system, as a new flagship rocket is put to the test for a third time. The Japan Aerospace Exploration Agency that an H3 rocket will be launched from the Tanegashima Space Center, on a southwestern Japanese island, early afternoon on June 30, with a launch window that runs through the end of July. The rocket will be carrying an Advanced Land Observation Satellite, ALOS-4, tasked primarily with Earth observation and data collection for disaster response and mapmaking, as well as with monitoring military activity, such as missile launches, with an infrared sensor developed by the Defense Ministry. The ALOS-4 is a successor to the current ALOS-2 and can observe a much wider area. The launch will be the H3's third, coming after a failed debut in March 2023 and a successful launch on Feb. 17. During the first attempt, the rocket's second stage engine did not ignite and the rocket had to be ...

Japan's yen hits fresh 34-year low after BOJ holds interest rates

The yen also nudged down to its weakest almost 16 years at 167.38 per euro and its weakest in nearly a decade on the Australian dollar

India, Japan discuss on disarmament, non-proliferation, export control

The Indian delegation was led by Muanpuii Saiawi, Joint Secretary (Disarmament and International Security Affairs), Ministry of External Affairs

Former Japanese PM Taro Aso meets Trump, discuss mutual cooperation

Ex-Japanese prime minister Taro Aso has met former president Donald Trump and both the leaders discussed the enduring importance of the US-Japan alliance to their physical and economic security in the strategic Indo-Pacific region. Aso, vice president of Japan's ruling Liberal Democratic Party, met Trump on Tuesday at the Trump Tower in Manhattan. Both the leaders discussed the enduring importance of the US-Japan alliance to both countries' physical and economic security and stability in the Indo-Pacific, according to a statement issued by the Trump Campaign on the meeting with the 83-year-old visiting Japanese leader. They also discussed challenges posed by China and North Korea. President Trump praised Japan's increased defence spending, the press release said after the meeting. "He's a highly respected man in Japan and beyond and somebody that I've liked and I've known through our very dear friend Shinzo," Trump, the 77-year-old presumptive nominee of the Republican Party in the

Air India enters into codeshare pact with Japan's All Nippon Airways

Air India has entered into a codeshare partnership with Japan's All Nippon Airways. With the codeshare, effective for travel from May 23, Air India and All Nippon Airways passengers can fly to their desired destination by combining those flights between India and Japan with a single ticket. Air India will add its 'AI' designator code on ANA's flights between Tokyo Haneda and Delhi as well as Tokyo Narita and Mumbai. ANA will add its 'NH' designator code on Air India's flight between Tokyo Narita and Delhi, a release said on Tuesday. Both airlines are considering further expanding their cooperation on additional routes. Now, Tata Group-owned Air India, which is expanding its presence, has codeshare partnerships with 15 airlines, including ANA .