Economy

Average basic monthly wage posts 1st gain in June in over 2 years

TOKYO (Kyodo) -- The average basic monthly salary at companies with at least five employees rose 0.3 percent in June from a year earlier to 243,019 yen, marking the first rise in two years and three months, the labor ministry said Thursday. This ...

  • Fed to continue tapering bond purchases

    WASHINGTON (Dow Jones) -- The Federal Reserve said it would scale back its purchases of mortgage and Treasury bonds to $25 billion monthly and responded hours after a stronger-than-expected U.S. economic growth report with a modestly more upbeat asse...

  • Japanese economy reels from tax rise: survey

    TOKYO -- Japan's economy appears to have taken a bigger hit from the April 1 consumption tax hike than from the previous increase in 1997. Real gross domestic product shrank at a 7.1% annualized rate in the second quarter, according to the averag...

  • Condo boom continues in Southeast Asia: survey

    TOKYO -- A survey by the Japan Real Estate Institute shows that of five major cities in Southeast Asia, Jakarta and Kuala Lumpur saw a significant increase in the condo price index from 2010 as of April 2014. Jakarta saw a 54% increase and Kuala Lump...

  • Credit crunch starting to hit smaller Chinese firms

    TOKYO -- A new set of dark clouds is gathering over the Chinese economy. The country has been maintaining high economic growth of around 7.5% thanks to a series of government measures, including lowering the reserve requirement ratio for banks an...

  • Japanese consumers slowly loosening purse strings again

    TOKYO -- Personal spending in Japan is showing signs of bouncing back from a consumption tax hike in April, helped by an improving job market. In real terms, seasonally adjusted household spending, with some exclusions, improved month on month in...

  • Vacant homes in Japan reach record as outlying population shrinks

    TOKYO -- A record 13.5% of all homes in Japan were unoccupied as of last October, reflecting an exodus from outlying regions of the country and a general aversion to used homes. Preliminary figures for a study on homes and land, conducted once ev...

  • Japan removes work disincentive by raising wage floor

    TOKYO -- The Japanese government moved Tuesday to give the least-paid workers their second-biggest raise in the past 20 years. A labor ministry council called for lifting the national average minimum wage to 780 yen ($7.59), up 16 yen from the pr...

  • Market slump puts brakes on vehicle production in Thailand

    BANGKOK -- Vehicle production in Thailand dropped 29% in January-June from the first half of 2014 to 952,685 units, according to the Federation of Thai Industries. Production for the domestic market plunged 51% to 392,759 vehicles, impacted by a ...

  • Trains to gain from China's flight delays

    BEIJING -- Lucy Wang reached the northern Chinese city of Tianjin as planned on July 22 but not on the simple two-hour flight she had booked.

  • Japan's regional economies recovering with tax hike shock waning: MOF

    TOKYO (Kyodo) -- Japan's regional economies are continuing to recover, the Finance Ministry said Tuesday, maintaining its previous overall assessment in April as it saw an easing of the negative impact of the April 1 consumption tax hike. Views o...

  • BOJ policymaker not sure about weaker yen's benefits to exports

    SHIMONOSEKI, Japan (Kyodo) -- A Bank of Japan policymaker said Tuesday he is uncertain about how much the current relative weakness of the yen in the currency market will help expand the country's exports. "The situation surrounding exports is ex...

  • Changed economy helping BOJ attain price goal

    TOKYO -- When BOJ chief Haruhiko Kuroda assumed the post in the spring of 2013 and vowed to achieve an inflation of 2% within two years, the goal was met with overwhelming skepticism among private-sector economists. But consumer prices in Japan are ...

  • Is S Korea headed for Japan-style slump?

    SEOUL -- Dark clouds have started gathering over the South Korean economy. The Bank of Korea, the country's central bank, announced on July 24 that South Korea's gross domestic product rose 0.6% in the second quarter of 2014 from the previous qua...

  • Japan's June job availability up to 1.10, best in 22 years

    TOKYO (Kyodo) -- Japan's job availability improved in June to its best level in 22 years, as companies were eager to hire more workers amid labor shortages in a wide range of industries such as healthcare and construction, with the economy recuperati...

  • Japan's household spending falls 3.0% in June

    TOKYO (Kyodo) -- Average Japanese monthly household spending fell a price-adjusted 3.0 percent in June from a year earlier to 272,791 yen, the government said Tuesday. The average monthly income of salaried households came to 710,375 yen, down 6....

  • China's top 1% controls a third of wealth as inequality grows

    BEIJING -- A recent report by Peking University revealed that the richest 1% of Chinese families own over a third of the country's wealth, illustrating the growing inequality in the economic powerhouse. The report, released by the university's I...

  • Bank of Thailand says EU monetary spillover more contained than from US

    BANGKOK -- The governor of the Bank of Thailand (BOT), Prasarn Trairatvorakul, told reporters on Saturday that spillover effects resulting from the substantial monetary easing policies implemented by European countries have been smaller than those ca...

  • With cash fleeing China, Beijing finds itself in a pickle

    HONG KONG -- Allegations aired earlier this month have put Beijing in a very tight spot. The allegations came in the form of a news report from China's state broadcaster: One of the country's largest state-owned commercial banks has been helping rich...

  • Myanmar to give foreign retailers, importers an opening

    YANGON -- Myanmar could open its retail and import sectors to foreign companies by the end of the year. According to a government official, a decision to scrap restrictions on foreign importers, wholesalers and retailers has already been made. ...