Tokyo, 24 October, /AJMEDIA/
Yen soars to 146 level vs. dollar in early Tokyo trading
TOKYO – The yen fluctuated widely against the U.S. dollar in early Monday trading in Tokyo, jumping to the 146 level after weakening to the 149 zone.
The yen had returned to a weakening trend after surging late last week on intervention by the Japanese authorities aimed at lifting the currency from a 32-year low.
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2 rival Koreas exchange warning shots near maritime boundary
SEOUL – North and South Korea exchanged warning shots along a disputed western maritime boundary in the Yellow Sea early Monday, their militaries said, adding further tensions to relations between the two countries and the wider region.
South Korea’s military said it fired warning shots during the early morning after a North Korean commercial vessel crossed the Northern Limit Line, a border drawn by U.S.-led U.N. forces after the Korean War.
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South Korean foundation may pay wartime labor damages for Japanese firms
TOKYO – Japan and South Korea are discussing a plan for a foundation funded by contributions from Korean companies to pay compensation for wartime labor to plaintiffs on behalf of Japanese corporate defendants, diplomatic sources said Sunday.
The planned compromise deal follows South Korean court orders for the liquidation of the local assets of Japanese companies to pay the damages. Japan maintains that all claims stemming from its colonial rule were settled “completely and finally” under a 1965 bilateral agreement.
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China’s Xi starts rare 3rd term with allies dominating leadership
BEIJING – Chinese leader Xi Jinping started Sunday his norm-breaking third five-year term as general secretary of the ruling Communist Party with a new leadership dominated by loyalists, as he accelerates his concentration of power even after becoming the strongest political figure in decades.
All four new members of the Communist Party’s highest decision-making body — the seven-strong Politburo Standing Committee — are Xi allies, triggering concerns that the Xi leadership could become more high-handed without much internal opposition and cause more tensions globally including the Taiwan Strait.
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Putin, Kim congratulate Xi as he starts 3rd term as China’s leader
TOKYO – Russian president Vladimir Putin and North Korean leader Kim Jong Un sent their congratulations on Sunday to Chinese leader Xi Jinping after he started an unprecedented third five-year term as general secretary of the ruling Communist Party.
Putin said in a telegram he looks forward to continuing “comprehensive partnership and strategic cooperation” with China, and that Xi’s firm grip on power has “fully confirmed your high political authority, as well as the unity of the party you lead,” according to a Tass news agency dispatch monitored in Tokyo.
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Japan emperor opens festivals in 50th anniv. yr of Okinawa’s return
GINOWAN, Japan – Emperor Naruhito said Sunday he is “sincerely pleased” that art and cultural festivals are being held in Okinawa this year, the 50th anniversary of the southern island prefecture’s reversion to Japan.
The emperor said in a speech at the opening ceremony in Ginowan of the festivals that he hopes the events will “deepen the understanding of Okinawa among the public.”
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FOCUS: China’s state-led economy could put Japan firms in tight spot
BEIJING – With Chinese leader Xi Jinping increasingly advocating the country’s unique state-led market economy as he cemented his power at the just-concluded key Communist Party congress, foreign businesses, including Japanese firms, may face further challenges in China, such as technology leakage fears.
Beijing’s stringent “zero-COVID” policy, its pursuit of greater self-reliance in the manufacturing sector amid rivalry with the United States and the promotion of “common prosperity” that could lead to coercively narrowing the income gap, have all contributed to increasing uncertainty in doing business with China, critics say.
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Tokyo film event shines light on rainforest conservation
TOKYO – A Tokyo event showcasing short films about rainforest conservation will be shown next Saturday, with organizers pinning hopes to raise awareness on the issue as part of efforts to reach out to a broader audience in Asia.
Films for the Forest, a project organized by the U.S.-based nonprofit organization Rainforest Partnership, will feature 10 works from several different countries, including Japan, Brazil and Malaysia.
