Japan’s economy skids, clouding BOJ’s rate hike plans

May 16, 2024 3:37 PM

Japan’s economy skids, clouding BOJ’s rate hike plans

Japan's economy fell faster than expected in the first quarter as the weak yen continued to batter consumers, throwing a fresh challenge to the central bank's push to get interest rates further away from near zero. Preliminary gross domestic product (GDP) data from the Cabinet Office on Thursday showed Japan's economy shrank 2.0% annualised in January-March from the prior quarter, faster than the 1.5% drop seen in a Reuters poll of economists. Downwardly revised data showed GDP barely grew in ...

In rapidly aging China, millions can’t afford to retire

May 9, 2024 10:39 AM

In rapidly aging China, millions can’t afford to retire

China's latest statistics showed some 94 million working people - around 12.8% of China's 734 million labour force - were older than 60 in 2022, up from 8.8% in 2020. That share, while lower than in wealthier Japan and South Korea, is set to skyrocket as 300 million more Chinese reach their 60s in the coming decade. A third of this cohort are rural migrants, who typically lack the professional skills for an economy aspiring to move up the value chain. The main reason China has not built a str...

Japan’s Foreign Minister visiting Kathmandu to hold bilateral talks with Nepal

May 6, 2024 9:22 AM

Japan’s Foreign Minister visiting Kathmandu to hold bilateral talks with Nepal

Japan's Minister for Foreign Affairs, Kamikawa Yoko, arrived in Kathmandu Sunday afternoon on an official visit to Nepal. The Minister arrived at the cordial invitation of Deputy Prime Minister and Minister for Foreign Affairs, Narayan Kaji Shrestha. Foreign Service Secretary Sewa Lamsal received the Japanese Minister at Tribhuvan International Airport. This marks her first visit to Nepal after she was appointed to the post. The Japanese Minister paid a courtesy call to Prime Minister Pushpa Ka...

North Korea fires ballistic missiles, South Korea, Japan say

April 22, 2024 3:34 PM

North Korea fires ballistic missiles, South Korea, Japan say

North Korea fired "several" short-range ballistic missiles on Monday toward the sea off its east coast, South Korea's military said, drawing a swift condemnation from Seoul, which called it a grave threat to stability on the Korean peninsula. A Japanese government alert and its coast guard also said North Korea had fired what appeared to be a ballistic missile. The projectile appeared to have landed outside Japan's exclusive economic zone area, the NHK broadcaster said. South Korea'...

Two Japan navy helicopters crash, one body found, 7 missing

April 21, 2024 11:10 AM

Two Japan navy helicopters crash, one body found, 7 missing

Two Japanese navy helicopters crashed into the sea during a training exercise, killing at least one of the eight crew members on board, the defence minister said on Sunday. The two SH-60 patrol helicopters were conducting anti-submarine exercises on Saturday night near Torishima in the remote Izu island group, off the southern coast of central Japan. Defense Minister Minoru Kihara told a press conference the cause of the crash is under investigation. The two flight recorders had been disco...

Taiwan’s strongest earthquake in 25 years kills nine; 50 missing

April 3, 2024 3:27 PM

Taiwan’s strongest earthquake in 25 years kills nine; 50 missing

Taiwan's biggest earthquake in at least 25 years killed nine people on Wednesday, injuring more than 800, while 50 went missing en route to a national park, authorities said, as rescuers used ladders to bring others to safety. Television broadcast images of buildings tilted at precarious angles in the mountainous, sparsely populated eastern county of Hualien, near the epicentre of the 7.2 magnitude quake, which struck just offshore at about 8 a. m. (0000GMT). "It was very strong. It felt as if...