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Japan PM pledges to slash red tape for growth

Agence France-PresseMay 17, 2013 02:15
Japan's premier said Friday he would slash red tape in a bid to boost corporate investment as he seeks to capitalise on the feel-good mood of a soaraway stock market and a plunging yen. Prime Minister Shinzo Abe set out broadbrush outlines of the third of his "three arrows" of a plan dubbed "Abenomics", which is intended to turn around years of deflation in the world's third-largest economy. The first two "arrows" -- a colossal government spending plan and aggressive monetary easing -- have fuelled optimism in an economy that has struggled for two decades.

Hashimoto's remarks on sex slaves "outrageous": U.S. State Dep't

Kyodo News InternationalMay 16, 2013 20:46
A State Department spokeswoman on Thursday branded remarks by a Japanese mayor defending Japan's wartime system of sexual servitude as "outrageous and offensive," in the first outright criticism of the comments by a U.S. government official. Commenting on Osaka Mayor Toru Hashimoto's contention that the system was considered necessary before and during World War II, Jen Psaki told a press briefing, "We have seen of course those comments. Mayor Hashimoto's comments were outrageous and offensive."

Retired veteran lawmaker Yosano to return to LDP

Kyodo News InternationalMay 16, 2013 08:15
Retired lawmaker Kaoru Yosano, who served as chief Cabinet secretary in 2007 during Shinzo Abe's previous stint as prime minister, is likely to return to the Liberal Democratic Party, party lawmakers said Thursday. The return of Yosano, who served as economic and fiscal policy minister in 2011 in the government led by the Democratic Party of Japan, could help the LDP gain strength toward the Tokyo metropolitan assembly election slated for June as he had a strong support base in Tokyo.

S. Korea raps Hashimoto for "insulting women's dignity"

Kyodo News InternationalMay 16, 2013 05:47
South Korea on Thursday rapped Osaka Mayor Toru Hashimoto for saying the Japanese military's use of women as sex slaves during World War II was necessary. "Such remarks are below the level of common sense, insulting women's dignity, distorting the history and defending criminal acts," Foreign Ministry spokesman Cho Tai Young told a news briefing.

Japan's March industrial output growth revised up to 0.9%

Kyodo News InternationalMay 16, 2013 04:45
Japan's industrial output in March grew a seasonally adjusted 0.9 percent from the previous month, revised upward from the initially reported 0.2 percent rise, the Economy, Trade and Industry Ministry said Thursday. The reading represents the fourth consecutive monthly growth, in a sign that production is picking up.

Japan mayor ready to apologise to comfort women

Agence France-PresseMay 16, 2013 04:45
The maverick mayor of Osaka on Thursday offered to meet former wartime sex slaves to apologise for their suffering, but insisted anew that Japan's soldiers were not unique in brutalising women. Up to 200,000 "comfort women" from Korea, China, the Philippines and elsewhere were forcibly drafted into brothels catering to the Japanese military during WWII, according to many mainstream historians.

Japan's parliament approves $906 billion budget to revive economy

The Canadian PressMay 15, 2013 11:31
TOKYO - Japan's parliament has approved a record-high 92.6 trillion yen ($906.2 billion) budget for this fiscal year, raising military spending for the first time in 11 years and boosting public works outlays to help revive the economy. The budget was approved late Wednesday after the lower house of parliament, whose decision takes precedence, overrode its rejection by the opposition-dominated upper house. The lower house, which passed the budget on April 16, is controlled by a coalition led by the ruling Liberal Democratic Party.

Okinawa women demand sex remark apology

Agence France-PresseMay 15, 2013 04:15
Women on Japan's island chain of Okinawa on Wednesday demanded an apology from an outspoken Japanese politician who suggested US troops there make use of its thriving sex industry. The comments from Osaka Mayor Toru Hashimoto earlier this week came as he also said "comfort women" -- who most historians agree were pressed into sexual slavery for the Japanese imperial army during World War II -- served a "necessary" role in keeping soldiers in line.

Asia shares mixed after US data, dollar stumbles

Agence France-PresseMay 14, 2013 03:45
Asian shares were mixed Tuesday, with the dollar's rally against the yen stumbling despite better than expected US retail figures which highlighted a steady recovery in the world's largest economy. Tokyo slipped 0.16 percent, or 23.79 points, to 14,758.42, but Seoul rose 1.03 percent, or 20.13 points, to 1,968.83. Sydney rose 0.21 percent, or 10.7 points, to 5,221 but the Australian dollar traded just below parity with the greenback ahead of the annual budget, which is expected to sketch an austere path back to surplus over the next four years.

G7 content with Japan's policies, finance minister says

May 10, 2013 21:15
TRING, England (Reuters) - Group of Seven ministers raised no problems with Japan's efforts to beat deflation with loose monetary and fiscal policies, Japanese Finance Minister Taro Aso said on Friday. "We explained at the G7 that Japan took bold monetary and fiscal action to end prolonged deflation, with the government and the Bank of Japan working closely together," Aso told reporters after hours of talks with fellow Group of Seven finance ministers and central bankers.
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