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Japan’s wholesale prices rise at fastest in nine years, bank lending up

profit rises

TOKYO:  Japanese wholesale prices rose in September at the fastest annual pace in almost nine years due to rising prices for gasoline, metals, and agricultural products, but the gains won’t necessarily boost the country’s notoriously weak inflation. Economists expect consumer prices to rise only gradually because many Japanese companies prefer to absorb higher input costs rather than increasing prices, making ... Read More »

Japan’s machinery orders rise 3.4% in August

Morocco’s auto industry exports likely to rise to $10b by 2020

TOKYO: Japan’s core private-sector machinery orders rose 3.4 percent in August on month, the government said in a report on Wednesday. The Cabinet Office, following two successive months of solid orders, raised its assessment, stating machinery orders show “signs of picking up,” marking the first upgrade in 13 months. The orders in the recording period totaled 882.4 billion yen (7.9 ... Read More »

Japan’s current account surplus expands to record ¥2.38 trillion in August

japan current account

TOKYO: The current account surplus expanded to ¥2.38 trillion ($21 billion) in August — the highest on record for the month — lifted by foreign investments and a bigger trade surplus, government data showed Tuesday. The surplus in the primary income account, which reflects how much Japan earns from foreign investments, rose 13.0 percent from the year before to ¥2.24 ... Read More »

Japan business activity index dips to 51.0 in August

dips

TOKYO: Japan’s services business activity index dipped from 51.6 in August to 51.0 in September. According to IHS Markit, manufacturing output rose solidly in September, reaching a four-month high. The Nikkei Composite Output Index still dipped to 51.7 in September, down from 51.9 in August. Whilst there was an increase in new work, it was the least marked since November ... Read More »

Japan’s economy likely posted second best stretch of post-war growth

economy

TOKYO: Japan’s economy likely posted its equal second-best stretch of uninterrupted post-war growth, a government index for August showed on Friday, a nod to strong global demand and premier Shinzo Abe’s aggressive stimulus measures. The latest reading comes as Abe heads to a general election later this month and puts his “Abenomics” policies in the spotlight. However, despite the strong ... Read More »

Bank of Japan deputy governor sees ‘good prospect’ of inflation pressure building

BOJ

TOKYO: There is a “good prospect” of inflation pressure building up in Japan after years of slow consumer price growth, the deputy governor of the country’s central bank said on Thursday. “We believe that the underlying momentum for inflation dynamics in Japan remains intact, as the output gap and inflation expectations continue to improve,” Bank of Japan Deputy Governor Hiroshi ... Read More »

Japan September services PMI shows growth slowest in 11 months

pmi

TOKYO: Japan’s services sector expanded in September at the slowest rate in 11 months as the pace of new orders eased, though a raft of other data suggest the economic recovery remains intact even as momentum may have ebbed slightly in the third quarter. The Markit/Nikkei survey released on Wednesday showed its Japan Services Purchasing Managers Index (PMI) fell to ... Read More »

Bank of Japan tankan corporate inflation expectations flagging

boj logo 2

TOKYO: Companies surveyed by the Bank of Japan expect consumer prices to rise 0.7 percent a year from now, lower than their projection for a 0.8 percent increase three months ago. Japanese companies’ inflation expectations eased slightly in September from three months ago in a worrying sign the economy continues to struggle with a deflationary mindset. Companies surveyed by the ... Read More »

Kuwait’s oil exports to Japan see 1st fall in 4 months

OIL EXPORT

TOKYO: Kuwait’s crude oil exports to Japan declined 2.3 percent in August from a year earlier to 6.18 million barrels, or 199,000 barrels per day (bpd), for the first fall in four months, government data showed. But Kuwait overtook Qatar to become Japan’s third-biggest oil provider, supplying 6.2 percent of the Asian nation’s total crude imports, the Japanese Natural Resources ... Read More »

Japan business confidence hits decade high

business confidence

TOKYO: Confidence among Japan’s biggest manufacturers has jumped to its highest level in a decade, a key central survey showed on Monday, as the world’s number three economy picks up pace. The Bank of Japan’s Tankan report — a closely watched quarterly survey of more than 10,000 companies — showed a reading of 22 among major manufacturers in its latest ... Read More »

Japan inflation climbs 0.7% in August

inflation - 1

TOKYO: Overall nationwide consumer prices in Japan were up 0.7 percent on year in August, the Ministry of Internal Affairs and Communications said on Friday. That exceeded forecasts for 0.6 percent and was up from 0.4 percent in July. Core CPI, which excludes food prices, also advanced 0.7 percent – in line with forecasts and up from 0.5 percent in ... Read More »

Japan’s Aug zinc exports down 6% yr/yr

importexports

TOKYO: Following is a table of Japan’s customs-cleared exports of zinc for August released by the Ministry of Finance on Thursday. The figures are a total of special high grade (SHG) and prime western grade (PW) zinc. Figures are converted from yen to U.S. dollar using Japan Customs’ official conversion rate. Country Aug Yr/Yr Aug Year to end-Aug Yr/Yr list ... Read More »

Japan resumes imports of Idaho chipping potatoes

imports increased

TOKYO: Secretary of Agriculture Sonny Perdue announced last week that Japan is expanding market access for U.S. chipping potatoes, resuming imports from Idaho for the first time in 11 years. “The United States has a reputation around the globe for growing high-quality potatoes,” Perdue said. “I am gratified that farmers in Idaho, our largest potato-producing state, will prosper while helping ... Read More »

Japan keen to deepen trade, investment ties with Pakistan

economic ties

TOKYO: Japan is keen to strengthen its trade and investment ties with Pakistan to help the country’s economy become fundamentally stronger, a top official said on Monday.  “Japan will cooperate with Pakistan in trade and investment projects,” Tadashi Maeda, chief executive officer at Japan Bank of International Cooperation (JBIC) said in a meeting with Pakistan’s Ambassador to Japan Asad Majid. ... Read More »

Bank of Japan keeps policy steady

BOJ keeps policy steady, maintains upbeat economic view

TOKYO: The Bank of Japan kept its monetary stimulus unchanged Thursday, but a dovish new board member opposed the decision in his first meeting, an unexpected dissension on a board chosen entirely by Prime Minister Shinzo Abe. Still, BoJ Governor Haruhiko Kuroda and his board left its target interest rates and asset purchase program unchanged, a decision expected by all ... Read More »

Japan August crude steel output falls, 4th straight month of drop

crude steel

TOKYO: Japan’s crude steel output fell 2 percent to 8.73 million tonnes in August from a year earlier, the fourth straight month of decline, due to glitches at some mills, the Japan Iron and Steel Federation said. However, the output, which is not seasonally-adjusted, rose 1.7 percent from July, the federation said. Production of ordinary steel slid 3.2 percent on ... Read More »

Japan sees biggest rise in exports in nearly 4 years

Philippines Jan. exports rise at fastest pace in 3 years

TOKYO: Japanese exports and imports surged last month, with both beating expectations as a recovery in trade appeared to gain momentum. Exports rose by 18.1 per cent from a year earlier, the biggest rise since November 2013. Imports climbed by 15.2 per cent. The trade surplus was 113.6 billion yen (S$1.4 billion). Car shipments to the United States increased by ... Read More »

Japan household assets rise to fresh record in June

Morocco’s auto industry exports likely to rise to $10b by 2020

TOKYO: Financial assets held by households rose 4.4 percent from a year earlier to a record ¥1.832 quadrillion ($16 trillion) at the end of June, up for the fourth straight quarter, Bank of Japan data showed Wednesday. The growth was boosted by the increasing value of stocks and other assets amid a moderate global economic expansion. By asset type, equities ... Read More »

Japan exports seen rising anew in August

importexports

TOKYO: Japan’s exports were expected to rise for a ninth straight month in August, a Reuters poll showed on Friday, underscoring the important role of foreign demand in driving economic recovery. Analysts also expect the Bank of Japan to keep policy rates unchanged at its meeting on Sept. 20 and 21. Exports were seen rising 14.7 percent in August from ... Read More »

Japan’s imports of wooden bedroom furniture dropped 9% in June

imports

TOKYO: The volatility in the value of Japan’s imports of wooden bedroom furniture continued into June 2017. After appearing to recover in May the value of June 2017 imports dipped again dropping 9%, as ITTO reported. Year-on-year, June 2017 imports of wooden bedroom furniture dropped 9%. China was the main supplier in June, continuing its dominance of bedroom furniture imports ... Read More »