Page 50 - Japan

Bank of Japan ends its negative interest rate policy, first hike in 17 yrs

Japan's central bank raised its benchmark interest rate Tuesday for the first time in 17 years, ending a longstanding policy of negative rates meant to boost the economy. The Bank of Japan's short-term rate was raised to a range of 0 to 0.1% from minus 0.1% at a policy meeting that confirmed expectations of a shift away from ultra-lax monetary policy. The interest rate hike was the first since February 2007. The BOJ had remained cautious about normalizing monetary policy, or ending its negative benchmark borrowing rate, even after data showed inflation at about its target rate of 2% in recent months.

White House to host trilateral summit with Philippines, Japan on April 11

US President Joe Biden will host a trilateral summit with his Filipino counterpart Ferdinand R. Marcos Jr. and Prime Minister Kishida Fumio of Japan on April 11 at the White House, a presidential spokesperson has said. During the first-ever trilateral summit between these countries, the leaders will advance a partnership built on deep historical ties of friendship, robust and growing economic relations, a proud and resolute commitment to shared democratic values, and a shared vision for a free and open Indo-Pacific, White House Press Secretary Karine Jean-Pierre said. "The leaders will also reaffirm the ironclad alliances between the United States and the Philippines, and the United States and Japan. At the summit, the three leaders will discuss trilateral cooperation to promote inclusive economic growth and emerging technologies, advance clean energy supply chains and climate cooperation, and further peace and security in the Indo-Pacific and around the world," she said. "In ...

US seeks UN resolution calling on nations to ban nuclear weapons in space

The United States and Japan are sponsoring a UN Security Council resolution calling on all nations not to deploy or develop nuclear weapons in space, the US ambassador has announced. Linda Thomas-Greenfield told a UN Security Council meeting on Monday that "any placement of nuclear weapons into orbit around the Earth would be unprecedented, dangerous, and unacceptable". The announcement that the US and Japan had circulated a resolution follows White House confirmation last month that Russia has obtained a "troubling" anti-satellite weapon capability, although such a weapon is not operational yet. Russian President Vladimir Putin declared later that Moscow has no intention of deploying nuclear weapons in space, claiming that the country has only developed space capabilities similar to those of the US. The Outer Space Treaty ratified by about 114 countries including the United States and Russia prohibits the deployment of "nuclear weapons or any other kinds of weapons of mass ...

Denying same-sex marriage unconstitutional, change required: Japan Court

A Japanese high court ruled on Thursday that denying same-sex marriage is unconstitutional and called for urgent government action to address the lack of any law allowing for such unions. Plaintiffs and the LGBTQ+ community in Japan cheered it as giving them hope for change toward equality. The court does not have the power to overturn the current marriage law, which has been interpreted to restrict marriage as between a man and a woman. Government offices may continue to deny marriage status to same-sex couples unless the existing law is revised to include LGBTQ+ couples or a new law is enacted that allows for other types of unions. The Sapporo High Court ruling said not allowing same-sex couples to marry and enjoy the same benefits as straight couples violates their fundamental right to equality and freedom of marriage. The case was brought by three same-sex couples who appealed three years ago after a lower court recognised the unconstitutionality of excluding same-sex couples fr

Nippon Steel defends US deal after Joe Biden comes out against bid

Japan's largest steel company repeated its previous offer of an additional $1.4 billion in investment, and promised no layoffs or plant closures until at least September 2026

Ban on same-sex marriage unconstitutional, Japanese High Court rules

The Japanese court said that it expected the Parliament to "institutionalise an appropriate same-sex marriage law" at some point

Treated wastewater discharge at Fukushima nuclear plant is safe: IAEA chief

The head of the UN atomic agency told local Japanese representatives at a meeting in Fukushima on Wednesday that the ongoing discharge of treated radioactive wastewater at the ruined nuclear power plant has met safety standards and that any restrictions on products from the region are not scientific. International Atomic Energy Agency Director-General Rafael Grossi joined local officials and representatives from fishing and business groups and reassured them that the discharges are being carried out with no impact to the environment, water, fish and sediment." Grossi, who arrived in Japan on Tuesday, visited Fukushima for the first time since the release of the treated water began in August. Grossi examined the discharge and sampling facility on Wednesday, escorted by Tomoaki Kobayakawa, president of the plant's operator, Tokyo Electric Power Company Holdings. He last visited the plant in July after issuing an IAEA review predicting only negligible impact from the discharges. An IA

Japan's Space One's solid-fuelled Kairos rocket explodes after launch

Space One said the flight was "interrupted" after the launch and was investigating the situation. There was no immediate indication of what caused the explosion

Toyota agrees to biggest wage hike in 25 years in sign of big pay bump

Toyota, the world's biggest carmaker and traditionally a bellwether of the annual talks, said it agreed to the demands of monthly pay increases of as much as 28,440 yen ($193) and record bonus payment

Paving way for end to negative rates, Japan Inc to offer big wage hikes

Unions across industries, including automobiles, electronics, metals, heavy machinery and the service sector have all demanded hefty pay hikes.

L&T Finance Holdings inks pact with JICA for $125 million funding

The project is strategically aligned with the goals of the Ministry of Rural Development as it focuses on lending in rural and peri-urban areas of lagging Indian states

13 yrs since massive tsunami, Fukushima nuclear plant still sparks fears

Japan on Monday marked 13 years since a massive earthquake and tsunami hit the country's northern coasts. Nearly 20,000 people died, whole towns were wiped out and the Fukushima Daiichi nuclear power plant was destroyed, creating deep fears of radiation that linger today. As the nation observes the anniversary, AP explains what is happening now at the plant and in neighbouring areas. WHAT HAPPENED 13 YEARS AGO? A magnitude 9.0 earthquake struck on March 11, 2011, causing a tsunami that battered northern coastal towns in Iwate, Miyagi and Fukushima prefectures. The tsunami, which topped 15 meters (50 feet) in some areas, also slammed into the nuclear plant, destroying its power supply and fuel cooling systems, and causing meltdowns at reactors No. 1, 2 and 3. Hydrogen explosions caused massive radiation leaks and contamination in the area. The operator, Tokyo Electric Power Company Holdings, says that the tsunami couldn't have been anticipated. Government and independent investigati

Japan's Q4 GDP revised up to slight expansion, economy avoids recession

On a quarter-on-quarter basis, GDP grew 0.1%, compared with the initial reading of a drop of 0.1.% drop and a median forecast for a 0.3% rise

Slow US inflation retreat to bolster Fed Reserve's patience over rate cuts

Away from inflation, there are scant signs of stress in the economy. The latest jobs report pointed to moderating yet healthy employment growth that will keep consumer spending afloat.

EAM Jaishankar's Japan visit explores ways to strengthen global partnership

EAM Jaishankar held the 16th India-Japan Strategic Dialogue with Japanese Foreign Minister, Yoko Kamikawa, on March 7

Japanese 'Dragon Ball' manga legend Akira Toriyama passes away aged 68

Notable manga artist Akira Toriyama is best known for giving the world' Dragon Ball' hero, Son Goku, whose character continues to resonate with millions of fans everywhere

India will have political stability for next decade or even two: Jaishankar

External Affairs Minister S Jaishankar on Friday exuded confidence that India will have a stable government for 15 years, even longer, as he highlighted how long-term political stability helps a government make "bold" decisions. Jaishankar, speaking at the Nikkei Forum on India-Japan Special Strategic Partnership here, said a reformist and visionary leadership backed by a strong political mandate, which in a democracy means having a majority in Parliament, results in "bold decision making". The minister's comments were in response to a question about political stability in India and whether the upcoming elections will affect India's foreign policy. India in May this year heads for crucial general elections with more than 950 million citizens gearing up to exercise their right to choose the government. "Hundred per cent we will have 15 years of stable government. It could even be that of 20 years or longer," Jaishankar said in response to the question. "Every country, every society

Nissan may bring ultra-compact EV production in-house from 2028: Report

Nissan and Mitsubishi denied the plan

EAM Jaishankar, Secy-Gen of Japan's LDP discuss ways to strengthen ties

EAM highlighted that there will always be new complexities but equally fresh opportunities will also be there

India-Japan ties will draw strength from larger activities like Quad: EAM

Jaishankar is on a visit to Japan from March 6-8 for the 16th India-Japan Foreign Minister's Strategic Dialogue with his Japanese counterpart, Yoko Kamikawa