Economy

Bank of Japan's managers say effects of sales tax hike are as predicted

TOKYO -- The negative effects of Japan's recent sales tax hike have been as expected, according to the majority of the Bank of Japan's branch managers, who met Thursday. This was the first meeting of BOJ branch managers since the tax's rise from ...

  • U.S. offers to cut tariffs on 99.5% of goods under TPP

    WASHINGTON (Kyodo) -- The United States has proposed eliminating tariffs on 99.5 percent of goods imported from Japan, as it presses Tokyo to scrap tariffs even on agricultural products to clinch a 12-nation Pacific free trade deal, a Japanese govern...

  • Scenario for achieving both economic growth and fiscal consolidation: JCER

    The Japanese economy currently faces concern that not only the population but also capital stock is declining and aging. In this economic situation, fiscal consolidation has become a burning issue. Although a decision to raise the consumption tax...

  • Japanese utilities amping up pressure to restart reactors

    TOKYO -- With the power supply expected to tighten sharply this summer, Japanese utilities are becoming increasingly vocal in their criticism of regulators, whom they see as standing in the way of efforts to quickly restart idle nuclear reactors. ...

  • Western Japan's power supply seen tightening this summer

    TOKYO -- Electricity supply in western Japan is expected to be significantly tighter this summer than last, but power companies will still be able to secure stable supplies thanks to help from a major utility in the east. On Thursday, the Ministr...

  • Japan's foreign resident tally rises for first time in 5 years

    TOKYO -- The number of foreign nationals in Japan increased for the first time in five years in the year through Oct. 1, 2013, the latest government figures show. The tally came to 1.59 million, up about 2% on the year, the Ministry of Internal A...

  • China economy continues to slow in 1Q as production, investment dwindle

    BEIJING -- China's real gross domestic product expanded 7.4% on the year in the three months ended March, the National Bureau of Statistics announced Wednesday. The figure was better than expected, but it was still lower than the previous quarter's 7...

  • China January-March housing sales down 7.7% on year

    SHANGHAI (Dow Jones) -- Housing sales in China in the three months ended March fell 7.7% to 1.11 trillion yuan ($178 billion), according to National Bureau of Statistics data released Wednesday Sales totaled 598.5 billion yuan in the two months ...

  • China 1Q GDP up 7.4%

    BEIJING (Dow Jones) -- China's gross domestic product rose 7.4% year over year in the first quarter--down from 7.7% growth in the fourth quarter of last year, China's National Bureau of Statistics said Wednesday. The increase was more than a med...

  • Philippines' fiscal reform offers model for some Asean peers

    HANOI -- The Philippines has been able to achieve economic growth without damaging its finances, setting an example for Southeast Asia's less-developed countries. While the country ran large budget deficits last decade, the Philippines has been r...

  • Newer Asean members' revenues pinched by free trade zone

    HANOI -- Less-developed members of Asean are struggling to replace tax revenues being lost as they move to reduce tariffs in line with the Southeast Asian bloc's plans for regional economic integration. To promote free trade across the region, me...

  • Japan's main working population falls below 80 mil.

    TOKYO (Kyodo) -- Japan's main working population fell below 80 million as of Oct. 1, 2013 for the first time in 32 years due to the country's rapidly aging society, according to a government estimate released Tuesday. The decline in the working ...

  • Sales tax hike wallops some Japan retailers, seems to only graze others

    TOKYO -- Japan has been living with an 8% consumption tax for two weeks now. So how are retailers faring? Early numbers show the impact of the 3-percentage-point hike has been uneven. Supermarkets and electronics stores, which saw sales dip righ...

  • BOJ determined to achieve inflation goal, Kuroda tells Abe

    TOKYO (Kyodo) -- Bank of Japan Governor Haruhiko Kuroda met with Prime Minister Shinzo Abe on Tuesday and conveyed the central bank's strong intention to achieve its inflation goal, which might cause it to take additional steps to boost the economy. ...

  • Japan PM Abe, BOJ Gov Kuroda hold lunch meeting

    TOKYO (Dow Jones) -- Japanese Prime Minister Shinzo Abe held a lunch meeting with Bank of Japan Gov. Haruhiko Kuroda at his office Tuesday, a government official said. Mr. Kuroda said Tuesday he renewed his pledge to take further policy action if...

  • Indonesian stocks struggle on opposition's election setback

    SINGAPORE -- Indonesian shares are top heavy following news that the country's largest opposition party did not perform as well as expected in the recent snap election. The Jakarta Composite Index fell 3.16% on Thursday, and Indonesian stocks squeeze...

  • BOJ's monetary easing spurring banks to take more risks

    TOKYO -- Japanese banks are piling up more higher-risk assets, including foreign bonds and loans, because the Bank of Japan's aggressive easy-money policy has made it difficult for them to profit from trading government bonds. This trend is s...

  • South Korean won near 6-year high on current-account surplus

    TOKYO -- The South Korean won is surging on an increase in the country's current-account surplus, briefly hitting 1,031 against the dollar last Thursday to mark its highest level since August 2008. Though the won has been rising since the start o...

  • Only capital investment can bust through Japan's low growth ceiling

    TOKYO -- Japan's quest for an economic resurgence has come to a critical point. To boost the nation's potential growth rate, businesses need to increase spending on facilities and equipment while strengthening their workforces. Bank of Japan Gov....

  • Singapore GDP rises 5.1% in 1st quarter of 2014

    SINGAPORE -- Singapore's gross domestic product grew 5.1% on the year in the first quarter of 2014, according to preliminary estimates released Monday by the Ministry of Trade and Industry. On a quarter-on-quarter, seasonally adjusted annualized ...