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Japan, India joint venture to build gas import terminal in Sri Lanka

LNG import terminal

NEW DELHI:  India and Japan will jointly set up a $250 million liquefied natural gas (LNG) import terminal in Sri Lanka, the first collaboration between the two nations to counter China’s growing influence in the Island nation. Petronet LNG Limited, India’s biggest gas importer, last year proposed to set up a 2-million-tonne (MT) liquefied natural gas import facility on the ... Read More »

Japan April exports, imports slides higher

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TOKYO: Japan’s exports grew for a fifth consecutive month in April albeit at a slower pace than the previous month as imports continued to grow. The value of Japan’s exports rose 7.5 percent year on year in April, according to Japan’s Ministry of Finance, slowing from the 12 percent rise seen in March. The April figure was below economists’ estimates ... Read More »

Japan Inc. overcomes falling revenue to log record profit

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TOKYO: Corporate Japan delivered a record profit for fiscal 2016 despite headwinds from a strong yen that pushed down sales, as trading houses rebounded from a resources plunge and communications companies rode the smartphone boom. Listed companies’ net profit climbed 18%, the first increase in two years, as 461 of these businesses logged records, according to a Nikkei survey of ... Read More »

Japan’s April exports seen up for fifth straight month

Philippines Jan. exports rise at fastest pace in 3 years

TOKYO: Japan’s exports were expected to rise for a fifth straight month in April, supported by global demand especially from Asia and affirming the outlook for an export-led recovery. Although the rate of export growth was seen likely to slow last month after robust rises in March, analysts see a global economic upturn continuing to support Japanese trade. Exports were ... Read More »

Japan’s April exports seen up for fifth straight month, core CPI to accelerate

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TOKYO: Japan’s exports were expected to rise for a fifth straight month in April, a Reuters poll found on Friday, supported by global demand especially from Asia and affirming the outlook for an export-led recovery. Although the rate of export growth was seen likely to slow last month after robust rises in March, analysts see a global economic upturn continuing ... Read More »

Japan’s economy expands for fifth straight quarter at 0.5%, but spending remains tepid

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TOKYO: Japan’s economy grew 0.5 percent in the first three months of 2017, its fifth straight winning quarter and the longest expansion in more than a decade, government data showed Thursday. Robust exports boosted gross domestic product, up from a 0.3 percent increase in the last quarter of 2016, the Cabinet Office said. The latest reading matched market expectations. The ... Read More »

Japan’s solar reforms cast shadow on renewable energy

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TOKYO: Japan’s crackdown on licensed solar power providers who never began operations could set back renewable energy development in the country and put more facilities in the hands of a few major players. Like a number of its peers, Enblue was forced recently to scrap a pending megasolar project. The Tokyo-based energy consultancy and solar power operator had planned to ... Read More »

Japan, Russia to sign new double tax agreement

Russia-and-Japan

TOKYO: The governments of Japan and Russia on April 28 announced they have agreed the text of a new double tax agreement that would replace the 1986 pact between Japan and the former USSR. In a statement following a visit by Japanese Prime Minister Shinzo Abe to Moscow, the Japanese Finance Ministry said: “This new Convention reinforces or introduces provisions ... Read More »

Russia, Japan to sign new double tax agreement

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MOSCOW: The governments of Japan and Russia on April 28 announced they have agreed the text of a new double tax agreement that would replace the 1986 pact between Japan and the former USSR. In a statement following a visit by Japanese Prime Minister Shinzo Abe to Moscow, the Japanese Finance Ministry said: “This new Convention reinforces or introduces provisions ... Read More »

Japan offers to buy 138,188 tonnes food wheat via tender

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TOKYO: Japan’s Ministry of Agriculture is seeking to buy a total of 138,188 tonnes of food quality wheat from the United States, Canada and Australia in a regular tender that will close late on Thursday. Japan, the world’s sixth-biggest wheat importer, keeps a tight grip on imports of the country’s second most important staple after rice, and buys the majority ... Read More »

US FMC rejects Japanese shipping lines’ merger plan

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TOKYO: The US Federal Maritime Commission (FMC) has rejected the merger of the container businesses of K Line, MOL and NYK on “jurisdictional grounds”. The matter will now be referred to the US Department of Justice (DoJ), which could delay or halt the proposed joint-venture. In a statement, the FMC said: “The Shipping Act does not provide the FMC with ... Read More »

U.S. maritime regulator rejects Japanese deal

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TOKYO: The U.S. maritime regulator has rejected an application by Japan’s three biggest shipping companies to operate as a merged company while their transaction is still being finalized back home. An approval would have given container operators Nippon Yusen K.K . NPNYY -1.96% , Mitsui O.S.K. Lines Ltd. 9104 -0.88% and Kawasaki Kisen Kaisha Ltd. 9107 -1.03% the right to ... Read More »

Japan economy likely to grow at pace: BOJ

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(c) Can Stock Photo Inc. / sundikov

TOKYO: Japan’s economy is expected to continue growing at a pace well above its potential, Bank of Japan Governor Haruhiko Kuroda said. Kuroda made the comments at a press conference after the central bank upgraded its assessment of the country’s economy in a quarterly report, citing solid production and exports. Japan’s potential rate of growth is estimated between 0.5 percent ... Read More »

Japan, China to resume bilateral dialogue on finance in May

A staff member of Japan's minister of economy, trade and industry, arranges Chinese and Japanese flags before a meeting between a group of Chinese business leaders led by Gao Xiqing, president of China Investment Corp., and Toshimitsu Motegi, minister at the ministry, both unseen, in Tokyo, Japan, on Thursday, Sept. 26, 2013. A group of heads of ten Chinese companies are on a five-day trip to Japan. Photographer: Tomohiro Ohsumi/Bloomberg via Getty Images

TOKYO: Japan and China are planning to discuss financial issues on May 7 in Yokohama in the first session of the bilateral dialogue in nearly two years, sources said, reflecting a recent thaw in relations. Finance Minister Taro Aso and his Chinese counterpart Xiao Jie are expected to focus on spurring economic growth through bilateral trade and infrastructure investment, and ... Read More »

Japan’s GSP cuts to have little impact on Thai exporters, commerce

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TOKYO/BANGKOK: Under the Japan-Thailand Economic Partnership Agreement (JTEPA) and Asean-Japan Comprehensive Economic Partnership (AJCEP) for about 6,000 product items, Thailand exports about US$6 billion (Bt206 billion) worth per annum to Japan. Only six Thai products worth about $17 million per annum have been exported to Japan under the GSP. Apiradi said those six products would be affected if Japan cuts ... Read More »

Maersk aims to strengthens ties between Japan, Africa

maersk

TOKYO: Already the world’s second-largest and second-most-populous continent, with 1.2 billion people as of 2016, Africa accounts for about 16% of the world’s human population and it is predicted that, by 2034, it will have a larger workforce than China or India. However, maintaining trade with advanced economies such as Japan is crucial to sustaining Africa’s economic growth. This is ... Read More »

Japan ready to revive TPP deal without U.S.

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TOKYO: Japan is ready to relaunch the Trans-Pacific Partnership (TPP) minus the United States in a dramatic shift of position that could bring the huge trade deal back from the dead. According to officials who work on trade, Tokyo is now ready to proceed without much change to the existing TPP text, a big departure from its previous reluctance to ... Read More »

Japan NTA to auction 22 non-tax paid bikes

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TOKYO: The National Tax Agency (NTA) said it will sell in an online auction 22 motorbikes that were seized in lieu of unpaid taxes. They include rare models. This is the first time for the agency to sell such a large number of motorbikes at auction at one time, an agency official said. A Kawasaki Z1100GP is estimated to fetch ... Read More »

Japan’s exim surge 12% in March

import surge

TOKYO: Japan’s exports rose at a faster-than-expected 12 percent pace in March, while imports jumped nearly 16 percent from a year earlier, the government said. The data suggest relatively strong foreign demand could lift growth for the world’s No. 3 economy in this quarter, economists said. While domestic demand has been constrained by slow growth in wages and lackluster corporate ... Read More »

Mitsubishi Motors yet to pay ¥5b tax

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TOKYO: Mitsubishi Motors Corp. had not returned as of the end of March some ¥5 billion of tax cuts for fuel-efficient vehicles excessively awarded because of overstated fuel economies, informed sources said. The amount is part of the ¥9 billion that the automaker needs to return to the Japanese central and local governments because its vehicle users received excessive tax ... Read More »