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Japan offers to buy 159,610 tonnes food wheat via tender

Taiwan tenders to import 92,000 tons wheat of US

TOKYO: Japan’s Ministry of Agriculture is seeking to buy a total of 159,610 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 majority of the ... Read More »

Japan Q1 GDP seen revised up on increased capital expenditure

gdp rise

TOKYO: Japan’s economy was expected to have expanded more quickly in the first quarter than initially estimated, buoyed by gains in corporate capital spending. Economic growth was seen at an annualized 2.4 percent in the first quarter, revised up from a preliminary estimate of 2.2 percent, the median forecast of 18 analysts showed. That translates into 0.6 percent growth from ... Read More »

Japan first quarter GDP seen revised up on increased capital expenditure

gdp

TOKYO: Japan’s economy was expected to have expanded more quickly in the first quarter than initially estimated, buoyed by gains in corporate capital spending. Economic growth was seen at an annualized 2.4 percent in the first quarter, revised up from a preliminary estimate of 2.2 percent, the median forecast of 18 analysts showed. That translates into 0.6 percent growth from ... Read More »

Japan reels in largest haul of smuggled gold, 8 arrested

gold

TOKYO: Five Japanese and three Chinese men were arrested Thursday for allegedly smuggling in 206 kilograms of gold by a small ship to a port in southwestern Japan, making it the largest case of illegal gold importing, law enforcement authorities said. The local customs house is verifying the authenticity of the ship’s load seized at the Nagoya port in Karatsu ... Read More »

Japan oil sales fall to lowest in at least 28 years for April

Oil Barrels with Red Arrow isolated on white background. 3D render

TOKYO: Japan’s oil sales were 13.92 million kilolitres (2.92 million barrels per day) last month, down 2.3 percent from a year earlier, data from the Ministry of Economy, Trade and Industry showed on Wednesday, the lowest volume for April in at least 28 years. Oil demand in the world’s third-biggest economy has been declining gradually for more than a decade, ... Read More »

UAE, Japan non-oil trade reaches $14.6bn in 2016

trade

DUBAI: The non-oil trade between the UAE and Japan reached about $14.6 billion in 2016, and the countries are working continuously to strengthen their economic ties and common interests, according to a recent report. The UAE Ministry of Economy has recently released a new report covering a comprehensive review of Japan’s trade policy and a closer look at the latest ... Read More »

Japan, Iceland agree to tax treaty

Flag-Pins-Japan-Iceland

TOKYO: The governments of Japan and Iceland have agreed in principle to tax treaty, the Japanese government has announced. The new tax agreement follows negotiations which took place May 17 in Tokyo. The new tax treaty will include provisions clarifying the taxation rights of the two countries, will eliminate double taxation, and will prevent tax evasion and avoidance. The agreement ... Read More »

Japan, Iceland reach basic agreement on tax convention

agreement

TOKYO: Japan and Iceland have agreed in principle to sign a convention aimed at eliminating international double taxation and preventing tax evasion, the Japanese Finance Ministry said Monday. The convention is hoping to boost mutual investment and encourage economic exchange, the ministry said. After signing, the convention is expected to come into force following domestic approval in both countries. Read More »

Japan industrial output likely to rise 4%

index rises

TOKYO: Japan’s data this week will provide an early picture of the growth performance in 2Q. As inferred from the production forecast index and the PMI, industrial output is likely to show a strong rise in April. In line with the consensus, the country’s industrial production is expected to rise 4 percent m/m on a seasonally adjusted basis, notably up ... Read More »

Japan turns to autonomous shipping

Wärtsilä-Takes-Part-in-Autonomous-Marine-Transport-Project

TOKYO: Japan is moving ahead with research into autonomous ocean transport by selecting Mitsui OSK Lines (MOL) and Mitsui Engineering & Shipbuilding for development work. The research contract was delivered by Japan’s Ministry of Land, Infrastructure, Transportation and Tourism for its transportation research and technology promotion programme. MOL and Mitsui Engineering & Shipbuilding will be joined by universities and institutes ... Read More »

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

high growth rates

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

Profit

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

importexports

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

economy

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

solargiga

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

sign

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

wheat

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 »