Economic news(2024/05/21)
Philippines cooperates economically and holds business forum with US
2024-05-21 21:44:00
The Philippine government, which is in deep conflict with its largest trading partner China over territorial disputes in the South China Sea, held a business forum to deepen cooperation with the United States on the economic front as well.
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EU AI bill approved by member states and enacted Regulations expected to be applied in 2026
2024-05-21 21:03:00
On the 21st, the EU (European Union) has been proceeding with the AI Bill, which aims to comprehensively regulate AI for the first time in the world, and was approved by member states and enacted. The regulations are expected to be fully implemented in 2026, two years later, with the content banning the use of some AI and requiring strict risk management for its use.
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JR Shikoku appoints Kazuyuki Shinomiya as new president and executive director, indicating intention to increase profits
2024-05-21 20:35:00
Managing Director Kazuyuki Shinomiya will be appointed as the new president of JR Shikoku. At a press conference, Mr. Shinomiya said, ``I want to create the future of Shikoku through a variety of businesses and services, with railway safety at the core.'' The company expressed its intention to increase profits in related businesses.
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PayPay's failure to pay on the 15th was due to high load on the server.
2024-05-21 20:02:00
The company revealed that the problem that occurred on the 15th of last week with PayPay, a smartphone payment service, was caused by a high load on the server. It is said that access was concentrated during lunchtime meal times due to a combination of campaigns conducted with other companies and local governments.
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Vegetable prices continue to soar. Cabbage prices are 1.8 times higher than normal. Why? How long will it last?
2024-05-21 19:30:00
``It's too expensive to buy...'' Vegetable prices continue to be high due to factors such as unseasonable weather. In particular, the store price of cabbage is 1.8 times higher than normal. How long will the impact on households and restaurants last?
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EU AI bill approved by member states and enacted Regulations expected to be applied in 2026
2024-05-21 19:17:00
On the 21st, the EU (European Union) has been proceeding with the AI Bill, which aims to comprehensively regulate AI for the first time in the world, and was approved by member states and enacted. The EU's AI law classifies risks, prohibits the use of some AI, and requires strict risk management for its use, and companies that violate the law will be fined up to 35 million euros, or approximately 60 million euros in Japanese yen. The fine will be 100 million yen or 7% of annual sales, whichever is higher. Regulations under this law are expected to be fully applied in 2026, two years later.
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Yen market price decline
2024-05-21 18:27:00
In the Tokyo foreign exchange market on the 21st, the yen exchange rate fell.
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“Rise in long-term interest rates to strengthen fiscal strength” recommended by an advisory body to the Minister of Finance
2024-05-21 17:35:00
An advisory body to the Minister of Finance has stated that a ``world with interest rates'' has become a reality due to the rise in long-term interest rates, and is aware of the risk of increasing interest payments on national bonds, and is calling for measures such as securing a certain surplus in the primary fiscal balance. has put together a recommendation that we should strive to strengthen our finances over the medium to long term.
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Average price of new condominiums in the Tokyo metropolitan area in April continues to decline for 2 consecutive months at a high level
2024-05-21 17:33:00
The average price of newly built condominiums sold in Tokyo and three prefectures in the Tokyo metropolitan area last month was 74.12 million yen, lower than the same month last year for the second consecutive month. This is a reaction to the successive sales of high-priced properties in Tokyo last year, but construction costs continue to rise and prices remain at high levels.
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Keidanren Chairman Tokura says wage increases in the 5% range at major companies during the spring labor union are ``very reassuring''
2024-05-21 17:23:00
At a press conference on the 21st, Keidanren Chairman Tokura said, ``This is a very encouraging result,'' regarding the fact that the wage increase rate at major companies during this year's spring labor campaign was 5.58%, the highest rate in the 5% range since 1991. He also recognized that it is important to maintain the momentum of wage increases from next year onwards.
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Hideaki Kirisawa appointed as new president of Welcia Holdings
2024-05-21 16:28:00
Welcia Holdings, the largest drugstore company, announced that it has appointed executive officer Hideaki Kirisawa as its new president, following the resignation of its former president due to an extramarital affair in his private life.
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Stock price falls slightly
2024-05-21 16:21:00
On the Tokyo stock market on the 21st, stock prices fell slightly.
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Postage fees for letters will increase from 84 yen to 110 yen this October
2024-05-21 13:34:00
The increase in postage fees for letters was approved at a meeting of the relevant ministers on the 21st, and it is expected that the price will increase from the current 84 yen to 110 yen this October.
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Wajima “Hikiyama Festival” Crowdfunding to collect repair costs for floats
2024-05-21 13:07:00
In preparation for the revival of the Hikiyama Festival held every spring in Wajima City, Ishikawa Prefecture, which continues to be affected by the Noto Peninsula Earthquake, a local shrine is using a cloud to collect funds to repair floats and other items damaged by the earthquake. We are doing funding.
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US Red Lobster operating company goes bankrupt, with losses increasing due to all-you-can-eat orders
2024-05-21 12:48:00
The company that operates Red Lobster, a major American seafood restaurant, has filed for bankruptcy under Article 11 of the Federal Bankruptcy Code, which is equivalent to Japan's Civil Rehabilitation Act. It is said that the loss increased due to changing the all-you-can-eat shrimp menu to a permanent menu.
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“Rise in long-term interest rates to strengthen fiscal strength” recommended by an advisory body to the Minister of Finance
2024-05-21 12:34:00
An advisory body to the Minister of Finance has stated that a ``world with interest rates'' has become a reality due to the rise in long-term interest rates, and is aware of the risk of increasing interest payments on national bonds, and is calling for measures such as securing a certain surplus in the primary fiscal balance. has put together a recommendation that we should strive to strengthen our finances over the medium to long term.
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Long-term interest rates rose to 0.980%, the highest level in about 11 years since May 2013
2024-05-21 12:02:00
In the bond market on the 21st, the yield on 10-year government bonds, a representative indicator of long-term interest rates, rose to 0.980% in morning trading, the highest level in about 11 years.
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Long-term interest rates rose to 0.980%, the highest level in about 11 years since May 2013
2024-05-21 10:56:00
In the bond market on the 21st, the yield on 10-year government bonds, a representative indicator of long-term interest rates, rose to 0.980% in morning trading. This is the highest level in approximately 11 years since May 2013. In addition to the expectation that the Bank of Japan will speed up the normalization of monetary policy, the rise in long-term interest rates in the United States has led to a growing movement to sell Japanese government bonds.
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Bank of Japan Analysis of “effects and side effects of unconventional monetary policy” over the past 25 years
2024-05-21 06:08:00
When the Bank of Japan asked companies about the effects and side effects of so-called unconventional monetary policies over the past 25 years, they found that borrowing at low interest rates supported business management and proactive investment, while others said that it had slowed down business growth. I understand that there were also indications that this was the case.
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The Ministry of Land, Infrastructure, Transport and Tourism releases a website that covers land prices and predicted flooding areas on a map
2024-05-21 05:19:00
In an effort to provide a variety of useful information for moving, real estate transactions, etc., the Ministry of Land, Infrastructure, Transport and Tourism has released a website that allows you to comprehensively check land prices, predicted flooding areas, local population, etc. on a map.
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