Economy

Myanmar revenue drive

Successive tax hikes stir discontent

YANGON -- Using cellphones in Myanmar is about to get more expensive. The Ministry of Communications and Information Technology has decided to slap a 5% tax on them, part of an ongoing government drive to drum up more revenue. The sudden hike on ...

  • Kuroda strikes positive note on economy

    TOKYO (Dow Jones) -- Bank of Japan Gov. Haruhiko Kuroda hit a more upbeat note about the nation's economy Friday, saying the central bank has effectively raised its view of the economy, while rejecting a view that more additional easing is necessary ...

  • 'Moderate recovery'

    BOJ slightly revises economic assessment

    TOKYO -- The Bank of Japan on Friday upwardly revised its economic assessment of the country's economy to "continued to recover moderately." The central bank's assessments of private consumption and housing investment also showed slight upticks. ...

  • Full text of BOJ's May 22 policy statement

    The following is the full text of the statement on monetary policy released by the Bank of Japan on Friday.Statement on Monetary Policy1. At the Monetary Policy Meeting held today, the Policy Board of the Bank of Japan decided, by an 8-1 majority vot...

  • BOJ stands pat on policy, offers more upbeat view on economy

    TOKYO (Reuters) -- The Bank of Japan maintained its massive monetary stimulus on Friday and offered a slightly more upbeat view of the economy, unfazed by first-quarter GDP data that offered mixed signs on the strength of the recovery. The centra...

  • Monetary easing

    Investors risk more as central banks talk down currencies

    TOKYO -- While developed countries once again compete to devalue their currencies, market players appear to have shifted their investments to stocks and bonds. The change in attitude comes in anticipation that monetary easing within the largest econo...

  • Japan net external assets hit record $3 trillion as top creditor nation

    TOKYO (Reuters) -- Japan's net external assets rose to a record 366.86 trillion yen ($3.03 trillion) at the end of last year as a weak yen boosted the value of overseas holdings, making the country the world's biggest creditor nation for 24 years in ...

  • Reforms and acquisitions

    Record 61 Japanese companies post 100 billion yen or more net profit

    TOKYO -- A record 61 publicly traded Japanese companies booked 100 billion yen ($819 million) or more in net profit in fiscal 2014 thanks in part to successful structural reforms and corporate buyouts, which could lead to higher dividends and lift th...

  • Monetary easing breakthrough?

    Stronger consumer spending bolsters BOJ's confidence

    TOKYO -- Officials at the Bank of Japan feel vindicated as preliminary data reveals a stronger uptick in consumer spending than the market anticipated for the January-March period. The central bank focused on consumer spending as the preliminary ...

  • Japan takes South Korea to WTO over Fukushima-related food import restrictions

    GENEVA (Reuters) -- Japan launched a trade complaint at the World Trade Organization on Thursday to challenge South Korea's import bans and additional testing requirements for Japanese food after the 2011 Fukushima nuclear disaster, the WTO said. ...

  • Itsuo Toshima

    Can China swap its way out of debt trouble?

    TOKYO -- China faces an economic time bomb: massive debts held by local governments. These off-balance-sheet debts are reportedly worth between 20 trillion and 30 trillion yuan ($3.22 trillion to $4.83 trillion). Beijing has come up with plans th...

  • Fed officials see June rate hike as unlikely - minutes

    WASHINGTON (Reuters) -- Federal Reserve officials believed it would be premature to hike interest rates in June even though most felt the U.S. economy was set to rebound from a dismal start to the year, according to minutes from their April policy me...

  • Japan's economy

    Consumers pitch in to keep recovery going

    TOKYO -- Japan's economy is still growing largely because of a modest rebound in consumer spending, preliminary first-quarter results show, but Japanese exporters face a difficult global market. Real gross domestic product expanded at an annualiz...

  • 1 year from coup

    Thailand's economy tests the junta's steering skills

    BANGKOK -- It is a harrowing time to be in Thailand's farming business. Just ask Taweewong Ieamsri, 74, a farm equipment wholesaler in a Bangkok suburb. His income dropped more than 20% on the year in 2014, and the worst may be yet to come. So fa...

  • Bank of Japan

    Kuroda and Co. to weigh raising view on economy

    TOKYO -- The Bank of Japan may reassess the state of the domestic economy this week in light of strong first-quarter growth and signs of a rebound in consumer spending. The central bank has not upgraded its economic assessment in nearly two ...

  • Pavida Pananond

    Myopic leadership hobbling Thai economy

    Until Thailand sorts out its political mess, there should be no illusions that its economy will improve, says Pavida Pananond.

  • Limited recovery

    China housing prices saw first gain in a year in April

    HONG KONG -- The Chinese real estate market is showing signs of recovery, at least in the biggest cities, as urban housing prices ticked up for the first time in a year in April on monetary easing and relaxed mortgage restrictions. New-home price...

  • Subway, port projects

    Peru looking for foreign partners

    TOKYO -- Peru is undergoing a dramatic transformation. Trains, highways, ports and power plants are planned across the South American nation. The government, looking for private partners to invest in these projects, says it sees Peru's economy growin...

  • Is deflation over?

    Japan's domestic demand starts driving up GDP

    TOKYO -- Japan's gross domestic product data, released Wednesday, shows that the nation is still in a moderate economic recovery, as the worst seems to have passed for housing investment and capital spending. The country's preliminary GDP rose at...

  • Japan's 4Q GDP

    Economy improves 2.4% on stronger investment

    TOKYO -- Japan's economy improved for the second straight quarter in the January-March period, with stronger housing investment helping it climb an annualized 2.4%, the Cabinet Office said Wednesday. A preliminary report showed private consumptio...