Economy

Japan to crack open the door a bit for unskilled foreign laborers

TOKYO -- Japan has felt across-the-board labor shortages more acutely now that its economy is on a recovery path. Some observers argue that, given its rapidly shrinking population, the country needs to accept more workers from other countries to sust...

  • Financial reform begins to move ahead in China

    TOKYO -- Financial reform is starting to move ahead in China, at last. The reforms aim to liberalize interest rates and tacitly accept the existence of so-called shadow banking, on the condition that shadow banking entities are subject to regulat...

  • Japan's regional economies keep recovering despite tax hike: MOF

    TOKYO (Kyodo) -- Japan's regional economies have continued to recover even after the first consumption tax hike in 17 years, the Finance Ministry said Wednesday, keeping intact its overall assessment for around four months from January through April....

  • Japan aid agency to buy stake in Myanmar industrial park developer

    YANGON -- Japan's government-affiliated aid organization will acquire roughly 10% of the Myanmar developer managing the nation's first modern industrial park in May, sources close to the matter told The Nikkei Wednesday. The Japan International C...

  • China's April manufacturing index rose slightly to 48.3

    BEIJING (Dow Jones) --The preliminary HSBC China Manufacturing Purchasing Managers Index, a gauge of nationwide manufacturing activity, rose slightly to 48.3 in April, compared with a final reading of 48.0 in March, HSBC Holdings PLC said Wednesday. ...

  • Kuroda: Core CPI for FY13 likely topped BOJ forecast

    TOKYO (Dow Jones) -- Bank of Japan Gov. Haruhiko Kuroda on Wednesday rejected the need to increase monetary stimulus, saying inflation is picking up more quickly than initially predicted by the central bank. Since initiating aggressive monetary eas...

  • Weaker yen isn't helping Japan exports

    TOKYO -- Trade statistics released Monday by the Ministry of Finance shows exports in fiscal 2013 in terms of quantity remained mostly flat from the previous year, registering a gain of just 0.6%. A weaker yen was supposed to drive up exports. It end...

  • China's economy could pay price for local government land sales

    BEIJING -- Local governments in China are increasingly relying on land sales to cover budget deficits, a move that could exacerbate the downward pressure on land prices and hurt the overall economy. Municipalities' dependence on proceeds from pro...

  • China's shadow banks face squeeze as defaults surge

    SHANGHAI -- Money flows are drying up in China's shadow banking sector as lenders grow increasingly anxious about borrowers going bust. Default fears were heightened by Premier Li Keqiang's recent warning that a wave of debt defaults is unavoidab...

  • China's great migration plan aims to correct economic gaps, at a cost

    CHONGQING, China -- Chinese Preminer Li Keqiang announced in March that Beijing aims to implement a massive, people-centered urbanization plan as a way to narrow the economic gap between urban and rural areas. This plan has been met with some cri...

  • Asian emerging markets to overcome poverty by 2022: Asian Development Bank

    MANILA -- Emerging markets in Asia will overcome poverty by 2022 due to their continued economic growth, according to new estimates by the Asian Development Bank. The World Bank and the ADB, define extreme poverty as those who live on less than $...

  • Japan logs record trade deficit of 13.75 tril. yen in FY 2013

    TOKYO (Kyodo) -- Japan logged a record trade deficit of 13.75 trillion yen in fiscal 2013, up 68.5 percent from a year earlier, as a surge in energy imports amid the prolonged halt of nuclear power plants dwarfed growth in exports, the Finance Minist...

  • Sales tax hike hasn't curbed Japan's appetite for spending: poll

    TOKYO -- A majority of households have not cut back on spending since the 5% consumption tax went up to 8% on April 1, a new survey finds. About two-thirds, or 66%, of respondents in the April 18-20 poll by Nikkei Inc. and affiliate TV Tokyo said...

  • Japan Inc. new grad hires to rise 16.6% in 2015

    TOKYO -- Major Japanese companies will hire a total of 111,505 university graduates next spring, up 16.6% compared with this year. The number of new hires will top 100,000 for the first time in six years, according to a Nikkei survey compiled Saturda...

  • 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...