Tokyo, 1 September, /AJMEDIA/
Yen hits fresh 24-year low against U.S. dollar
TOKYO – The yen fell to a fresh 24-year low against the U.S. dollar on Thursday amid growing speculation of wider interest rate differentials between Japan and the United States.
The Japanese currency dipped below 139.38 against the dollar logged on July 14, hitting the lowest level since September 1998, after a Federal Reserve official said overnight the U.S. central bank should raise the federal funds rate to above 4 percent by early next year from the current 2.25-2.5 percent.
———-
Japan capital spending rises 4.6% in April-June
TOKYO – Capital spending by Japanese companies gained 4.6 percent in the April-June quarter from a year earlier, government data showed Thursday.
Investment by all nonfinancial sectors for purposes such as building factories and adding equipment totaled 10.61 trillion yen ($76.12 billion), the Finance Ministry said.
———-
Japan to increase COVID entry cap on arrivals to 50,000 from Sept. 7
TOKYO – Japan will raise its daily entry cap on arrivals to 50,000 from the current 20,000 from Sept. 7 in a further easing of strict COVID-19 border controls, Prime Minister Fumio Kishida said Wednesday.
With the country lagging behind other major economies in opening its doors to inbound tourism, foreign tourists will no longer need to travel on tours with a guide, Kishida said.
———-
U.S. says working on in-person Biden-Xi talks despite Taiwan tension
WASHINGTON – The United States and China are making “active efforts” to realize an in-person meeting between their respective leaders Joe Biden and Xi Jinping, White House national security spokesman John Kirby said Wednesday, even as tensions remain high over Taiwan.
The two leaders agreed in a phone call in late July to explore the possibility of holding their first face-to-face meeting since Biden took office in January last year. But tensions between the two countries have increased following U.S. House of Representatives Speaker Nancy Pelosi’s visit in early August to Taiwan, a self-ruled democratic island which Beijing views as its own.
———-
U.S. regulators OK updated COVID booster shots targeting Omicron
WASHINGTON – U.S. drug regulators on Wednesday approved two updated formulations of COVID-19 vaccines as booster shots intended to provide increased protection against the currently circulating Omicron variant.
The newly authorized single-dose shots will be for use at least two months after administration of the existing primary or booster vaccine. The updated booster from Pfizer Inc. will be available for those 12 years of age and older, while the new shot from Moderna Inc. is authorized for those at least 18 years old.
———-
110 tril. yen sought for Japan FY 2023 budget, defense costs to rise
TOKYO – General-account budget requests by Japan’s ministries and agencies for fiscal 2023 totaled over 110 trillion yen ($790 billion), with defense spending likely to hit a record high, a Kyodo News tally found Wednesday.
The requests for the year starting in April marked the first drop in five years from a record 111.66 trillion yen sought for fiscal 2022, but they are set to increase further due to additional costs to address higher commodity prices and the COVID-19 pandemic.
———-
G-20 pledge more efforts to protect biodiversity, fight climate change
NUSA DUA, Indonesia – Senior environment officials from the Group of 20 major economies in the world agreed Wednesday on the need for further efforts to set ambitious goals for protecting biodiversity and on the importance of assisting developing countries in combatting climate change.
However, despite discussing a range of issues including plastic waste and water resource management at their meeting on the resort island of Bali, the member countries were unable to adopt a joint statement due to differences over a reference to Russia’s invasion of Ukraine, with host Indonesia expected to issue a summary statement at a later date, officials said.
———-
Japan PM Kishida vows to sever his party’s ties with Unification Church
TOKYO – Prime Minister Fumio Kishida said Wednesday his Liberal Democratic Party will require its lawmakers to sever ties with the Unification Church, which has come under the spotlight following the assassination of former leader Shinzo Abe in early July.
Kishida also told a press conference that he will answer questions in parliament on the government’s decision to hold a state funeral for Abe. Opposition parties had urged Kishida to do so as the public remains divided over holding such an event for Abe, who often stirred controversy with his policies as prime minister.
