Tokyo, 28 July, /AJMEDIA/
Fed continues huge rate hike to combat inflation amid recession fears
WASHINGTON – The U.S. Federal Reserve on Wednesday raised the benchmark interest rate by 0.75 percentage point for the second straight meeting, as the central bank aggressively seeks to bring down inflation despite growing fears that a recession may be looming.
Fed Chairman Jerome Powell told a press conference after a two-day meeting of the policy-setting Federal Open Market Committee that the world’s largest economy faces slowing growth, but denied it is now in a recession, typically defined as negative growth in two consecutive quarters.
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“Maximum vigilance” urged as Japan’s daily COVID cases hit record
TOKYO – Japan’s daily coronavirus cases hit a record high of 209,694 on Wednesday, with health experts urging “maximum vigilance” as the country continues to struggle with its seventh wave of infections driven by the highly transmissible BA.5 Omicron subvariant.
Despite the resurgence of the virus, the country has not imposed restrictions on people’s movement as Prime Minister Fumio Kishida is seeking to maintain a balance of socioeconomic activities and measures to prevent infections from spreading further.
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Japan, Indonesia vow to cooperate for success of G-20 summit
TOKYO – Prime Minister Fumio Kishida and Indonesian President Joko Widodo agreed Wednesday to closely cooperate in ensuring the success of a summit of the Group of 20 major economies Widodo will host in November.
In a meeting in Tokyo, Widodo told Kishida that Indonesia has lifted all restrictions on imports of Japanese food products that were imposed in the wake of the Fukushima nuclear crisis in 2011, a move Kishida hailed as encouraging for residents of affected areas in northeastern Japan.
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Biden returns to work in person after recovering from COVID
WASHINGTON – U.S. President Joe Biden said Wednesday he is returning to work in person after recovering from COVID-19, less than a week after the 79-year-old was found to have been infected with the virus.
“My symptoms were mild, my recovery was quick and I’m feeling great,” Biden said, after being confirmed negative by antigen testing Tuesday evening and Wednesday morning.
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Tokyo Olympics exec questioned, denies bribery allegations
TOKYO – An executive of the now-defunct Tokyo Olympics organizing committee appears to have denied allegations of accepting bribes from a sponsor company when prosecutors questioned him on Wednesday, investigative sources said.
Haruyuki Takahashi, 78, is believed to have received around 45 million yen ($330,000) from major business suit retailer Aoki Holdings Inc. after a company he headed reached a consulting deal with the firm. Aoki clinched a sponsorship deal about a year later.
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M7.0 quake jolts northern Philippines, 5 dead
MANILA – An earthquake with a magnitude of 7.0 jolted the northern part of the Philippines’ Luzon Island in the country’s north on Wednesday morning, leaving at least five people dead and more than 60 others injured, the Philippine government said.
The quake also damaged many buildings particularly in Abra province, at the epicenter, and the nearby province of Benguet. Spanish colonial-era houses and a church in Vigan, a historic city in Ilocus Sur province known as a UNESCO World Heritage site, were also damaged.
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U.S. House speaker Pelosi looks to visit Japan in August: sources
TOKYO – U.S. House of Representatives Speaker Nancy Pelosi is planning to visit Japan early next month, diplomatic sources said Wednesday, amid reports that she is considering a trip to Taiwan in a move almost certain to trigger an outcry from China.
Pelosi’s trip to Taiwan, if realized, would be the first by a serving U.S. House speaker in 25 years. The administration of U.S. President Joe Biden has been enhancing ties with the self-ruled democratic island.
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UNESCO not reviewing Japan’s Sado mine for 2023 World Heritage list
TOKYO – A gold and silver mine site recommended by the Japanese government for UNESCO World Heritage status is unlikely to be included in the 2023 list as the organization did not forward the recommendation to its advisory body by the deadline, sources close to the matter said Wednesday.
The U.N. Educational, Scientific and Cultural Organization cited incomplete information on the recommendation form as the reason for not reviewing the mine on Sado Island in Niigata Prefecture for next year’s list, the sources said.
