Page 49 - Japan

Taiwan earthquake: Rescuers search for dozens of people out of contact

Rescuers searched for dozens of people out of contact Thursday a day after Taiwan's strongest earthquake in a quarter century damaged buildings, caused multiple rockslides and killed nine people. In the eastern coastal city of Hualien near the epicenter, workers used an excavator to put construction materials around the base of a damaged building to stabilize it and prevent a collapse. Mayor Hsu Chen-wei previously said 48 residential buildings were damaged. Some of the damaged buildings tilted at precarious angles with their ground floors crushed. More than 1,000 people were injured in the quake that struck Wednesday morning. Of the nine dead, at least four were struck inside Taroko National Park, a tourist attraction famous for its scenes of canyons and cliffs in Hualien County, about 150 kilometers (90 miles) from the island's capital Taipei. Nearly 150 people were either still trapped or out of contact Thursday, the National Fire Agency said. About two dozen tourists and some .

Indian Navy reaches Japan for bilateral anti-submarine warfare exchange

The Indian Navy on Wednesday said its P8I aircraft has reached Japan for a bilateral anti-submarine warfare (ASW) and subject matter expert exchange with the Japan Maritime Self-Defense Force (JMSDF). In a post on X, it said, "An Indian Navy P8I arrived at Atsugi, Japan, for bilateral ASW and subject matter expert exchange with the JMSDF. The crew will plan and execute maritime reconnaissance and ASW operations alongwith JMSDF. #BridgesofFriendship @jmsdf_pao_eng @IndianEmbTokyo." The Indian Navy also shared a picture of the aircraft with the post.

Japan begins tourist e-visa for Indians, here's a guide on how to apply

Specifically designed for tourism, the Japan eVisa offers a single-entry short-term visa allowing a stay of up to 90 days in Japan

Japan's economy recovers to full capacity, keeps rate hike prospects alive

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

After China visit, Indonesia prez-elect vows to strengthen ties with Japan

Indonesian President-elect Prabowo Subianto said he wants to further strengthen relations with Japan as he met with Japanese Prime Minister Fumio Kishida on Wednesday on the heels of a visit to China. Subianto, who's currently defence minister, told Kishida that the two countries are longtime friends who have built a cooperative relationship, and that he hoped to further strengthen the relationship. Japan has been seeking closer ties with Southeast Asian countries, especially in maritime security and defence, in the face of China's increasingly assertive military presence. Subianto, who will succeed Joko Widodo in October, chose Beijing for his first official overseas trip after his February election victory in a bid to emphasise steady ties with China amid rising tensions in the South China Sea, where China and the Philippines have had repeated high-seas confrontations. In his meeting with Chinese President Xi Jinping, Subianto pledged a continued friendly policy toward China. Chi

Amid Tsunami threat, Japan issues evacuation advisory for coastal areas

The tsunami threat from a strong earthquake that struck Taiwan has largely passed. The Japan Meteorological Agency downgraded its forecast from 3 metres (9.8 feet) to 1 metre (3.3 feet). One island had a wave of about 30 centimetres (a foot), while smaller waves were detected in other islands. Japan's Chief Cabinet Secretary Yoshimasa Hayashi said there has been no report of injury or damage in Japan. He urged the residents in the Okinawa region to stay on safe ground until all tsunami advisories were lifted. China issued no warnings for the Chinese mainland, and there was no threat for Hawaii and Guam. More than two hours after the 7.4 magnitude quake struck Taiwan, the Pacific Tsunami Warning Centre said the threat of a tsunami has largely passed. The quake damaged buildings on Taiwan but casualty information was not yet available.

Strong quake hits Taiwan, buildings collapse; Japan issues tsunami alert

A powerful earthquake struck off Taiwan early Wednesday, rocking the entire island and collapsing buildings. Japan issued a tsunami alert for the southern Japanese island group of Okinawa. Japan's meteorological agency forecast a tsunami of up to 3 metres (9.8 feet). Taiwan's earthquake monitoring agency gave the magnitude as 7.2 while the US Geological Survey put it at 7.5. Television showed buildings in the eastern city of Hualien shaken off their foundations. The quake came at 7:58 am and could be felt in the capital Taipei.

India, South Korea, and Japan to stay busy with IPOs while China stalls

While IPOs returned to major venues in Europe and the US, the slowdown in Asia was mostly due to Beijing's decision to ramp up scrutiny of domestic new share sales as it tries to boost confidence

Govt initiates anti-dumping probe into import of chemical from China, Japan

India has initiated an anti-dumping probe into the import of a chemical used in the rubber industry from China and Japan following a complaint by a domestic player. The commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR) is probing the alleged dumping of 'Insoluble Sulphur'. Oriental Carbon & Chemicals Ltd has filed an application before the authority to undertake a probe into the alleged dumping of the chemicals coming from these two countries. According to the DGTR's notification, the applicant has provided prima facie evidence with respect to the injury suffered by the domestic industry due to the dumped imports. "The authority hereby initiates an anti-dumping investigation into the alleged dumping and consequent material injury to the domestic industry," it said. If it is established that the dumping has caused material injury to domestic players, the DGTR would recommend the imposition of anti-dumping duty on imports. The finance ministry takes

BOJ survey finds less optimistic manufacturers, but happier service sector

A key Japanese central bank report said Monday that sentiment among big manufacturers has sagged but that optimism is at a three-decade high among large business outside the manufacturing sector. The Bank of Japan's tankan report said sentiment among large manufacturers, which include auto and electronics giants, declined in March for the first time in a year, standing at plus 11, down two points from December. The average market forecast by Japanese news service Kyodo was 9. The index for large-scale non-manufacturers, including the service sector, hit a 33-year high at plus 34 points, up two points from the last report in December. The tankan, carried out every three months, surveys about 9,000 Japanese companies and measures corporate sentiment by subtracting the number of companies saying business conditions are negative from those saying they are positive. The optimism among the non-manufacturing businesses reflects the return of tourism, both overseas and domestic, which had

Japan confirms experts met in China to ease radioactive water concerns

Japan said Sunday its experts have held talks with their Chinese counterparts to try to assuage Beijing's concerns over the discharge of treated radioactive wastewater from the wrecked Fukushima Daiichi nuclear power plant into the sea. The discharges have been opposed by fishing groups and neighbouring countries especially China, which banned all imports of Japanese seafood. China's move has largely affected Japanese scallop growers and exporters to China. During the talks held Saturday in the northeastern Chinese city of Dalian, Japanese officials provided science-based explanation of how the discharges have been safely carried out as planned, according to the Japanese Foreign Ministry. A 2011 earthquake and tsunami damaged the Fukushima plant's power supply and reactor cooling functions, triggering meltdowns of three reactors and causing large amounts of radioactive wastewater to accumulate. After more than a decade of storage in tanks taking up much space on the complex, the pla

NHPC inks agreement with Japan's JBIC for around Rs 1,100 crore loan

State-owned hydropower giant NHPC on Thursday said it has inked a loan agreement of JPY 20 billion (around Rs 1,100 crore) with Japan Bank for International Cooperation (JBIC) for developing a 300 MW solar project in Bikaner, Rajasthan. This is the first kind of loan syndication by NHPC with JBIC for the financing of renewable energy project, a company statement said. According to the statement, JBIC's loan is co-financed with MUFG Bank Ltd., Japan and Bank of Yokohama Ltd, Japan. NHPC has secured a foreign currency loan of JPY 20 billion from JBIC for the implementation of renewable projects, including a 300 MW solar power project, Bikaner, it stated. The loan agreement was signed by the senior officials of NHPC and JBIC. The facility is extended under JBIC's GREEN Operations (Global Action for Reconciling Economic Growth and Environment Preservation), which ensures the preservation of the global environment.

NTPC signs aggrement with Japan's JBIC for Rs 1,650 crore funding

State-owned power giant NTPC on Tuesday said it has inked a pact with a Japanese agency for sourcing foreign currency loans of USD 200 million (JPY 30 billion or around Rs 1,650 crore).. Japan Bank for International Cooperation (JBIC), a government policy-based financial institution, will provide 60 per cent of the facility amount and the balance amount will be provided by other commercial banks under JBIC guarantee, a statement said. The agreements have been signed for a JPY 15 billion loan each for NTPC Ltd and NTPC Renewables Energy Ltd (NREL), it added. The facility has been extended under JBIC's initiative entitled Global action for Reconciling Economic growth and Environment preservation' (GREEN) for projects which ensure the conservation of the global environment.. The loan proceeds shall be utilized by NTPC for funding part of its capex requirements for Flue Gas Desulphurization (FGD) which substantially reduces the SOx emission in the flue gases of thermal power stations a

Nissan Motor plans to launch three all-new models in India by FY26

Japanese auto major Nissan Motor Co Ltd plans to launch three all-new models in India by fiscal year 2026 and make the country a hub for exports under its new global business plan to drive value and strengthen competitiveness, according to a company statement. Under the new plan, which is split into mid-term imperatives for fiscal years 2024 through 2026, and mid-long-term actions to be carried out through 2030, the company is targeting additional 10 lakh unit sales compared to fiscal year 2023. Globally, Nissan plans to launch 30 new models over the next three years, of which 16 will be electrified, and 14 will be ICE (international combustion engine) models, to meet the diversified customer needs in markets where the pace of electrification differs, the company said. It plans to launch a total of 34 electrified models from fiscal year 2024 and 2030 to cover all segments, with the model mix of electrified vehicles expected to account for 40 per cent globally by fiscal year 2026 and

Ambit Finvest raises Rs 690 crore from Daiwa Securities, existing investors

Non-bank lender Ambit Finvest on Tuesday said it has raised Rs 690 crore from a Japanese securities group and other existing investors. Japan-based Daiwa Securities Group, which has been a partner for Ambit Group in other businesses, will get a minority stake for its Rs 415-crore investment, a statement said. The remaining Rs 275 crore has been raised from existing shareholders, including the parent, the statement said. The company is engaged in providing secured and unsecured business loans, as well as used vehicle loans, to micro small and medium-sized enterprises in India over the last two years, and has invested in branches and technology, the statement said. Classified as a systemically important Non-Banking Financial Company (NBFC), it has helped over 68,000 MSME business owners by offering them business loans for various requirements. It has disbursed over Rs 6,000 crore worth of loans since its inception in 2018 and currently has over Rs 3,800 crore in assets under managem

Japan approves plan to sell future next-generation jets to other nations

Japan's Cabinet on Tuesday approved a plan to sell future next-generation fighter jets that it's developing with the UK and Italy to other countries, in the latest move away from the country's postwar pacifist principles. The contentious decision to allow international arms sales is expected to help secure Japan's role in the joint fighter jet project and part of a move to build up the Japanese arms industry and bolster its role in global security. The Cabinet also endorsed a revision to Japan's arms equipment and technology transfer guidelines to allow coproduced lethal weapons to be sold to countries other than the partners. Japan has long restricted arms exports under the country's pacifist constitution, but has rapidly taken steps to deregulate amid rising regional and global tensions, especially from nearby China. The decision on jets will allow Japan to export lethal weapons it coproduces to other countries for the first time. Japan is working with Italy and the UK to develo

Shares in Australia, HK edges higher, while Japan, China stocks decline

Treasuries were mostly steady following a rally on Friday that wiped seven basis points from the 10-year yield. Australian and New Zealand bond yields ticked lower Monday

North Korea says Japan PM Kishida offered to meet Kim Jong Un soon

North Korea said Monday that Japanese Prime Minister Fumio Kishida offered to meet with North Korean leader Kim Jong Un as soon as possible, but stressed that prospects for their countries' first summit in about 20 years would depend on Tokyo tolerating its weapons programme and ignoring its past abductions of Japanese nationals. Kishida said later Monday that a meeting with Kim is crucial to resolve the abduction issue, a major sticking point in bilateral ties, and that his government has been using various channels to discuss the possible summit. Observers say Kim wants improved ties with Japan as a way to drive a wedge between the US and its allies, while Kishida wants to use possible progress in the abduction issue to boost his declining approval rating at home. But they say it would be highly unlikely for a Kim-Kishida summit to happen anytime soon because North Korea has set preconditions that Japan can't accept. Kim's sister and senior official, Kim Yo Jong, said in a stateme

Japan's exports rise nearly 8% in Feb on shipments of cars, machinery

Japan's exports rose 7.8 per cent in February from a year earlier on strong shipments of cars and electrical machinery, the government said on Thursday. Exports in February totaled 8.2 trillion yen (USD 55 billion), marking the third straight month of growth, according to preliminary customs data. The report showed the trade deficit sank by more than half on-year to 379 billion yen (USD 2.5 billion), marking the second straight month of a deficit. Exports to China rose just 2.5 per cent and those to all of Asia edged 2.3 per cent higher on-year, suggesting that demand has moderated. Exports to the United States rose 18 per cent and exports to the EU were up almost 16 per cent. The picture for imports was mixed, with China supplying 1.7 trillion yen (USD 236 billion), a nearly 17 per cent annual increase that more than doubled Japan's deficit with its giant neighbour. In all, imports edged up 0.5 per cent, totalling nearly 9 trillion yen (USD 60 billion), as prices for key commodit

How Bank of Japan's Kazuo Ueda dismantled world's last negative rate

Both had studied at the Massachusetts Institute of Technology, Summers noted, and both shared a soft-spoken academic air but were "capable of being decisive."