Tokyo, 29 March, /AJMEDIA
PM Kishida says Japan to craft new economic package by end of April
TOKYO – Japanese Prime Minister Fumio Kishida said Monday his government will compile an additional economic package by the end of April to soften the impact of rising crude oil, food and other prices and ensure a recovery from the COVID-19 pandemic.
The yen’s depreciation is posing a challenge to policymakers in resource-poor Japan, as it inflates import costs and pressures households. Despite a verbal warning by Japan’s top government spokesman against “rapid” currency moves, the U.S. dollar continued its ascent on Monday to break the 125 yen threshold for the first time since 2015.
———-
Dollar tops 125 yen for 1st time since Aug. 2015, stocks fall
TOKYO – The U.S. dollar surged against the yen on Monday, topping the 125 yen line for the first time since August 2015, after the Bank of Japan announced an emergency bond-buying operation, while the Nikkei stock index ended lower, snapping a nine-day winning streak.
The dollar rose sharply from the lower 122 yen range in the morning after the BOJ’s operation increased expectations of a widening interest rate gap between the United States and Japan.
———-
G-7 agrees to reject Russia’s demand to pay for gas in rubles
TOKYO – The Group of Seven major developed countries Monday agreed to reject Russia’s demand to pay for its natural gas in rubles when importing, Japan’s industry ministry said.
Energy ministers from the seven countries — Britain, Canada, France, Germany, Italy, Japan and the United States — also agreed during an emergency meeting to ask firms in their respective countries not to meet Russia’s demand.
———-
Japan’s Feb. jobless rate falls to 2.7%
TOKYO – Japan’s unemployment rate fell to 2.7 percent in February from the previous month’s 2.8 percent, the Ministry of Internal Affairs and Communications said Tuesday.
The job availability ratio also improved in February to 1.21 from 1.20 in January, the Ministry of Health, Labor and Welfare said separately. The ratio means there were 121 job openings for every 100 job seekers.
———-
Biden’s $6 tril. budget eyes defense boost amid Russia, China threats
WASHINGTON – The U.S. administration of President Joe Biden on Monday released a $5.8 trillion budget proposal for fiscal 2023, featuring what it calls one of the largest investments in national security in the country’s history amid threats posed by Russia and China.
The budget plan also includes a 20 percent minimum tax rate on U.S. households with more than $100 million, as part of efforts to cut deficits and improve the country’s long-term fiscal outlook.
———-
Tokyu railway to be 1st in Japan to run all lines on green energy
TOKYO – Tokyu Corp. said Monday it will run all its services entirely on energy from solar and other renewable sources beginning Friday, becoming the first Japanese railway operator to do so.
Tokyu said it will purchase so-called non-fossil certificates for electricity in use of all lines it runs in the Tokyo area, including the capital’s bustling Shibuya Station, a move that will effectively cut the company’s carbon dioxide emissions to zero.
———-
Japan film “Drive My Car” wins best international feature at Oscars
LOS ANGELES – Director Ryusuke Hamaguchi’s “Drive My Car” won best international feature at the 94th U.S. Academy Awards in Los Angeles on Sunday, becoming the first Japanese film in 13 years to bag the prestigious Oscar for the category after having garnered a string of international accolades.
“We’ve got it,” Hamaguchi said as he closed his speech by raising the Oscar statuette. The director earlier expressed his gratitude to the actors and others involved in the film, which was based on a short story of the same title by world-renowned Japanese author Haruki Murakami.
———-
Japan, U.S., S. Korea top military officers to meet in Hawaii
TOKYO – Japan’s highest-ranking military officer will travel to Hawaii later this week to meet with his counterparts from the United States and South Korea to discuss “various issues in the Asia-Pacific region,” the Japanese Defense Ministry said Monday.
Following the recent launch of a new intercontinental ballistic missile by North Korea, Gen. Koji Yamazaki, chief of the Self-Defense Forces Joint Staff, is expected to exchange views with the top U.S. and South Korean military officers on concrete ways to cooperate during the meeting Wednesday local time.
———-
Asian Para Games to be held in 2026 in Aichi Pref.
NAGOYA – The Asian Para Games will be held in Aichi Prefecture in October 2026 to coincide with the Asian Games that will take place in the same area, local organizers said Monday.
The para event, to be co-hosted by the prefecture and the city of Nagoya, will be held mainly in the venues of the 2026 Asian Games and for seven days in October. Around 4,000 athletes with physical disabilities, hailing from 44 countries and regions, will compete in 18 sports.
