Economy

A monitor at a foreign currency broker in Tokyo shows the yen trading at the 105 level against the dollar on May 3.

To soothe its troubled markets, Japan needs the US on its side

TOKYO -- The Japanese economy has received some nasty jolts recently. One of the biggest was the Bank of Japan's decision -- against all expectations -- to refrain from loosening monetary policy further. This sparked a sudden surge in the yen's value...

  • Indonesia's GDP grows more slowly than expected in Q1

    JAKARTA (Reuters) -- Indonesia's economy grew 4.92 percent from a year earlier in the first quarter, a slower pace than expected, the statistics bureau said on Wednesday.The median forecast of a Reuters poll was for an annual pace of 5.05 percent in ...

  • Japan lacks G-7 support for forex intervention, ex-finance official says

    TOKYO -- Fellow Group of Seven nations would be unlikely to accept moves by Japan to stop the yen's appreciation under the current economic conditions, says a former Japanese Finance Ministry official in charge of currency policy.Naoyuki Shinohara, f...

  • IMF warns of China spillover to Asian neighbors

    HONG KONG -- China's bumpy economic rebalancing efforts will have repercussions for neighboring countries whose fortunes are tightly intertwined with the Asian giant, though the amount of pain will likely vary, the International Monetary Fund said Tu...

  • Japan's real GDP falls 0.5% on month in March: JCER

    TOKYO -- Japan's real gross domestic product sank 0.5% in March compared with the previous month, the Japan Center for Economic Research said Monday.Consumer spending slumped 1.9% as households tightened their purse strings. Growth occurred in other ...

  • Mainlanders back in Hong Kong for holidays, but spend less

    HONG KONG -- Chinese tourists seem unaffected by anti-mainland sentiment as they arrived Hong Kong in droves for their yearly shopping season, but now in search of bargains rather than luxury items.The former British colony saw a surprise 10% rebound...

  • Commentary

    Frederic Neumann -- Bank of Japan contemplates next steps

    The central bank in Tokyo must consider a number of difficult options to reflate the economy

  • Commentary

    Carla Hoorweg -- Building an Asia-wide fund market

    APEC's Asia Region Funds Passport will create cross-border marketing opportunities for players willing to think outside the box, says Carla Hoorweg

  • Australia cuts interest rates to head off deflation risk

    SYDNEY (Reuters) -- Australia's central bank cut interest rates to an all-time low of 1.75 percent on Tuesday, the first easing in a year as it seeks to restrain a rising currency and insulate the economy from creeping deflation.The Reserve Bank of A...

  • Tourists can't save Japan from its consumer demand deficiency

    TOKYO -- Judging solely from recent earnings announcements by major Japanese retailers, one might think the country's consumption picture is brightening. A closer look reveals that the picture is skewed.The aggregate pretax profit of listed retailers...

  • Language barrier piles more pain on foreigners in quake-hit Kumamoto

    OSAKA -- Many non-Japanese residents of Kumamoto Prefecture continue to struggle after April's earthquakes, with language difficulties often isolating them from other evacuees, hindering efforts to find housing and making information tougher to find....

  • BOJ's new consumer spending index avoids household surveys

    TOKYO -- The Bank of Japan has developed a new index that tracks private consumption monthly, saying a gauge that eschews household surveys will be more accurate.The index will be based solely on supply-side data, using government statistics such as ...

  • Tourists flocking to Tokyo hotels despite rising prices

    TOKYO -- Average occupancy at 18 major Tokyo hotels edged up 0.1 percentage point to 83.8% in the year ended in March -- staying in the 80% range seen as near full occupancy -- even as hotels hike rates, though recent data shows signs of a downtrend....

  • For G-7, consensus on oil market proves a slippery beast

    TOKYO -- Even as they stressed the need to maintain oil-sector investment, Group of Seven nations could not send a strong message on stabilizing petroleum prices because of policy differences, adding to doubts about the group's ability to put a floor...

  • Yen's ongoing strength not favorable for Japan economy: Kuroda

    FRANKFURT (Kyodo) -- Bank of Japan Governor Haruhiko Kuroda voiced concern Monday about the adverse effects the yen's ongoing strength could have on the Japanese economy."The yen's current round of uptrend could have unfavorable impacts on the econo...

  • BOJ inaction provokes sharp backlash

    TOKYO -- Monetary easing in tough times is textbook stuff. So the market was convinced that the Bank of Japan would serve up additional measures at its April meeting, in light of grim domestic economic data. The BOJ ignored the textbook; the market g...

  • 3 key developments jolt Japan's markets

    TOKYO -- The Bank of Japan's decision last Thursday to refrain from further monetary easing caught investors off guard and sent the yen surging against the dollar. This was one of three major developments last week that are still reverberating throug...

  • China tax overhaul to save businesses $77bn

    BEIJING -- China's full transition to a value-added tax system could save nonmanufacturing companies more than 500 billion yuan ($77.2 billion) this year, advancing industry development and lifting the overall economy.China on Sunday began taxing all...

  • China April official factory activity expands but at slower pace

    BEIJING (Reuters) -- Activity in China's manufacturing sector expanded for the second month in a row in April but only marginally, an official survey showed on Sunday, raising doubts about the sustainability of a recent pick-up in the world's second-...

  • Japan gets ready to welcome foreign housekeepers

    TOKYO -- Japanese Prime Minister Shinzo Abe wants to build a society in which 100 million Japanese can happily live and work. The government plans to take a step in this direction by next March by letting people from foreign countries into Japan to h...