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December 21, 2024
 

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BUDGETS

U.S. House Speaker Mike Johnson speaks to reporters following the passage of spending legislation to avert a government shutdown, on Capitol Hill in Washington on Friday.
WORLD / Politics
Dec 21, 2024
U.S. Congress passes bill to avert shutdown
After weeks of tense negotiations that went down to the wire, U.S. lawmakers passed a bill to fund federal agencies through mid-March.
The plenary session of the House of Representatives, which passed the three political reform bills, in parliament on Tuesday
JAPAN
Dec 17, 2024
Japan enacts ¥13.9 trillion extra budget for fiscal 2024
The economic policy package aims to finance measures against inflation and disaster relief.
Yoichi Miyazawa (right), chair of the Liberal Democratic Party's tax panel, said Friday that both the LDP and Komeito have agreed to decide on the start date for higher income taxes at a later date.
JAPAN / Politics
Dec 13, 2024
LDP-Komeito bloc defers decision on income tax hike to boost defense budget
The bloc originally aimed to raise income tax rates in January 2027, but reconsidered following discussions with the opposition Democratic Party for the People.
Prime Minister Shigeru Ishiba (front right) bows as the fiscal 2024 supplementary budget bill is passed in parliament on Thursday.
JAPAN / Politics
Dec 13, 2024
Ishiba makes concessions to opposition to maintain power
The prime minister's minority government has endorsed opposition policies on tax and education to win their support for a supplementary budget.
The Lower House Budget Committee clears the 2024 supplementary budget on Thursday.
JAPAN / Politics
Dec 12, 2024
Lower House passes ¥13.9 trillion supplementary budget
Prime Minister Shigeru Ishiba’s minority government made concessions to the opposition to secure support for the budget, which includes an economic stimulus package.
Prime Minister Shigeru Ishiba delivers his policy speech at the Lower House on Nov. 29.
JAPAN / Politics
Dec 9, 2024
Japan's government submits ¥13.9 trillion extra budget for fiscal 2024
The budget will finance a comprehensive economic package that includes measures to tackle inflation and aid for areas affected by natural disasters in the Noto Peninsula.
"No matter who takes the helm, Japan’s fiscal discipline will worsen in a situation like this," said Mana Nakazora, a credit analyst on an economic panel advising Prime Minister Shigeru Ishiba.
BUSINESS / Economy
Dec 3, 2024
Japan needs a wake-up call on debt, government advisor warns
The advisor criticized the government’s decision to resume subsidies for utilities as part of the stimulus package.
Prime Minister Shigeru Ishiba arrives to deliver a policy address during a Lower House session in Tokyo on Friday.
BUSINESS / Tech
Nov 29, 2024
Japan earmarks extra ¥1.5 trillion for chips and AI this year
Japan is fighting to keep up in a global spending spree on cutting-edge tech led by China and the U.S.
Prime Minister Shigeru Ishiba during a G20 meeting in Rio de Janeiro on Nov. 18.
JAPAN
Nov 28, 2024
Japan to lean heavily on extra tax revenue to cover costs of extra budget
The extra budget will partly be funded by ¥3.83 trillion in higher-than-expected tax receipts and unused funds from the previous year.
Motohisa Furukawa, Democratic Party for the People tax chief, says the Bank of Japan is unlikely to move so quickly in raising rates that the move would have a detrimental impact on public borrowing costs.
BUSINESS / Economy
Nov 28, 2024
BOJ rate hike unlikely to derail budget planning, DPP tax chief says
Democratic Party for the People tax chief Motohisa Furukawa says it is "unthinkable” that the Bank of Japan will hike rates rapidly.
The sought ¥21.3 billion will be used for making the revised family register law widely known to the public and setting up call centers to receive questions from the public.
JAPAN / Politics
Nov 27, 2024
¥21.3 billion sought to help with adding phonetic readings in family registers
The planned funds will be used for making the revision widely known to the public and setting up call centers to receive questions from the public.
The policy chiefs of the Democratic Party for the People, Liberal Democratic Party and Komeito — Makoto Hamaguchi (left), Itsunori Onodera (center) and Mitsunari Okamoto — shake hands after reaching an agreement on an economic stimulus package on Wednesday.
BUSINESS / Economy
Nov 22, 2024
Japan approves ¥21.9 trillion stimulus plan
Combined with expected spending from the private sector, this year’s package is estimated to add a total of ¥39 trillion to the economy.
Workers repair a damaged road on Jan. 7 in the aftermath of an earthquake in Wajima, Ishikawa Prefecture.
JAPAN
Nov 14, 2024
New minister promises ample budget for disaster resilience
"Improving the country's resilience is an extremely important task," Hiromasa Nakano said in an interview.
The government aims to finalize an economic package later this month to help households hit hard by rising prices.
JAPAN
Nov 14, 2024
Japan eyes ¥30,000 benefits for low-income households
The planned economic package includes a proposal of ¥20,000 per child to the benefits, which are designed to support households hit hard by soaring prices.
The Lower House plenary session on Monday
JAPAN / Politics
Nov 13, 2024
Ishiba in for a bumpy ride as CDP takes Budget Committee post
In a rare move, the Liberal Democratic Party and its coalition partner, Komeito, conceded the Budget Committee post to the opposition.
In a fresh aid package set to be compiled this month, the Japanese government will show its commitment to large-scale strategic support spanning several years in both areas, bearing in mind Rapidus, which has advanced into the Hokkaido region to mass-produce next-generation chips.
BUSINESS / Tech
Nov 9, 2024
Japan eyes ¥2 trillion for chips and AI in economic package
In the package, to be compiled this month, the government will show its commitment to large-scale support spanning several years in both areas.
LDP Diet affairs chief Tetsushi Sakamoto (left) and his CDP counterpart, Hirofumi Ryu, at a meeting in the parliament building on Thursday
JAPAN / Politics
Nov 8, 2024
CDP lawmaker to chair Lower House budget committee
The agreement was reached after the ruling coalition failed to secure a majority in last month's election.
Defense equipment such as tanks and ships often require time to build, leading the government to conclude contracts spanning multiple fiscal years.
JAPAN
Nov 7, 2024
Japan's future payment obligations for defense goods balloon
An increase in such obligations may put constraints on spending to procure new equipment and build facilities, resulting in budget rigidity.
A subcommittee of Japan's Fiscal System Council proposed Friday that the government provide efficient support over multiple years to the sector, which is growing in importance from the perspective of economic security.
BUSINESS / Tech
Nov 2, 2024
Japan panel calls for medium-term chip sector aid strategy
The subcommittee said the government provide efficient support over multiple years to the sector, which is growing in importance.
Krishna Srinivasan, director of the International Monetary Fund's Asia Pacific Department
BUSINESS / Economy
Nov 1, 2024
Japan must avoid issuing debt to fund fresh spending, IMF says
Prime Minister Shigeru Ishiba has pledged to compile another large-scale spending package to cushion the blow to households from the rising cost of living.
Mother hopes for reunion with daughter ensnared by Tokyo host clubs
The Kabukicho district in Tokyo, where the daughter of a woman in her 60s fell deeply into the host club culture.
A year after going private, structural reforms bearing fruit for Toshiba
Toshiba's Corporate Senior Executive Vice President Koji Ikeya speaks during an interview in Tokyo on Monday.
Taiwan lawmakers brawl over bills that would 'damage democracy'
Lawmakers from the Democratic Progressive Party and opposition party Kuomintang brawl in parliament in Taipei on Friday.
Record 78% of people in Japan feel anxious, government survey finds
The public opinion survey on people's lives, conducted by the Cabinet Office, found that 28.1% of respondents think that their standard of living is at a lower-middle level among the general public — the highest percentage to give that response in 35 years.
Police raided suspect's home to arrest him after fatal Kitakyushu stabbing
Broken window glass is seen at Masanori Hirabaru's house in Kitakyushu's Kokuraminami Ward.
Japanese officials inspect Yokota Air Base over PFAS concerns
The Yokota Air Base in western Tokyo in September 2019. An inspection of the base by Japanese government officials on Friday came amid public pressure to investigate suspected links between the use of PFAS-containing firefighting foam by the U.S. base and contamination of soil and groundwater in western Tokyo.
Crime numbers rise in Japan for second straight year
A police officer stands in front of the residence of a man alleged to have stabbed two junior high school students in Kitakyushu.
A year of Oscar wins and a quiet push for diversity
Ryusuke Hamaguchi’s “Evil Does Not Exist,” released in Japanese theaters in April, sharply dramatizes the clash between rural and urban values. The film won five awards at the 2023 Venice Film Festival, including the second-place Silver Lion prize.
Curiosity didn’t kill the meme: Why cats still rule Japanese YouTube
A screen shot from YouTube user @lagelda shows the simplicity of going viral in Japan in 2024: A cat dancing to EDM in front of a green screen.
With rare Asia carrier deployment, France seeks greater interoperability
The flight deck of the French Navy's Charles de Gaulle aircraft carrier during a stop at Changi Naval Base in Singapore in May 2019

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