Tokyo, 13 October, /AJMEDIA/
G-7 finance chiefs note “increased volatility” in currencies
WASHINGTON – Finance chiefs of the Group of Seven industrialized nations on Wednesday noted “increased volatility” in many currencies and the need to keep an eye on the markets, as the U.S. dollar rapidly strengthens on the back of the Federal Reserve’s aggressive interest rate hikes aimed at curbing inflation.
The meeting of the finance ministers and central bank governors of the G-7 preceded a gathering of the Group of 20 major economies, which is also expected to examine the impact of the tightening monetary policies on the world economy during a two-day meeting through Thursday.
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U.N. assembly decides Russia annexation of Ukraine areas “illegal”
NEW YORK – The U.N. General Assembly adopted a resolution Wednesday that criticizes Russia for annexing four Ukrainian regions last month and determines the referendums aimed at justifying the territorial expansion were “illegal.”
The world body’s assembly also urged Moscow to retract the declaration of the annexation of Luhansk, Donetsk, Kherson and Zaporizhzhia as part of the invasion of its neighboring country, which began in February.
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U.S. strategy seeks “strongest” coalition in era of China competition
WASHINGTON – The U.S. administration of President Joe Biden on Wednesday vowed in its overarching security strategy to seek the “strongest and broadest” coalition of nations to cooperate amid what it views as a decisive decade for competition with China and global challenges like climate change.
In the National Security Strategy, the first of the Biden administration, the White House defined China as “the only competitor with both the intent to reshape the international order and, increasingly, the economic, diplomatic, military, and technological power to advance that objective.”
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Easy monetary policy must be maintained: Bank of Japan chief
WASHINGTON – Bank of Japan Governor Haruhiko Kuroda said Wednesday that monetary easing “certainly” must be maintained to achieve its 2 percent inflation target stably and sustainably.
Speaking at an event, Kuroda said Japan’s inflation rate has been rising, driven largely by higher import costs. However, such inflation will not continue, Kuroda said, adding that robust wage growth is needed.
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North Korean leader oversaw test-firing of long-range cruise missiles
BEIJING – North Korean leader Kim Jong Un has overseen the test-firing of two long-range strategic cruise missiles in person, the country’s official media reported Thursday.
The test was “successfully” conducted on Wednesday, with Kim expressing “great satisfaction” and stressing that his country should “focus all efforts on the endless and accelerating development” of nuclear weapons to bolster its defense capabilities, according to the state-run Korean Central News Agency.
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Japan Epsilon rocket launch fails, self-destruct command sent
KAGOSHIMA, Japan – A Japanese satellite-carrying rocket failed at launch on Wednesday, with the country’s space agency ordering the Epsilon launch vehicle to self-destruct just minutes after liftoff as it deviated from its intended trajectory.
The development marked Japan’s first rocket launch failure since November 2003, when an H2A rocket was deliberately destroyed shortly after liftoff and dealt a blow to an agency looking to expand its uptake of commercial satellites for its launches.
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China Communist Party praises achievements on H.K., Taiwan, COVID
BEIJING – China’s Communist Party praised Wednesday its achievements over the past five years in bringing stability to Hong Kong, blocking the independence of Taiwan and controlling the COVID-19 pandemic ahead of its twice-a-decade congress due to start this weekend.
A communique released by the ruling party after a four-day meeting of senior members in Beijing, at which they made final arrangements for the congress to be convened on Sunday, confirmed the “decisive significance” of leader Xi Jinping’s unswerving power and authority being cemented, the official Xinhua News Agency said.
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Japanese documentary filmmaker gets additional prison time in Myanmar
BANGKOK – A Japanese documentary filmmaker detained in July in Myanmar’s largest city, Yangon, was sentenced Wednesday to three years in prison for violating the immigration law, legal sources said.
The sentence by the special court set up by the military inside Insein Prison in Yangon brings Toru Kubota’s total prison time to 10 years after already being sentenced by the same court last week to seven years for sedition and electronic communications-related violations.