Economic news(2024/12/09)
New economic stimulus package supplementary budget proposal submitted; discussions on political reform [Events on the 9th]
2024-12-09 22:39:00
The government has submitted to the Diet a supplementary budget proposal for this fiscal year totaling approximately 13.9 trillion yen in the general account, which will support the new economic measures. Additionally, on the 9th, the Liberal Democratic Party submitted a bill to the House of Representatives on its own to revise the Political Funds Control Act, while the Constitutional Democratic Party submitted a bill together with some other opposition parties. The ruling Komeito Party and the opposition Democratic Party for the People will jointly submit a bill on the 10th. Here is a summary of the action in the Diet on the 9th.
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JERA announces integration of offshore wind power generation business with major British oil company bp
2024-12-09 21:51:00
JERA, Japan's largest power generation company, has announced that it will merge its offshore wind power generation business with bp, a major British oil company. With development costs rising and the business environment becoming tougher, the company hopes that this merger will lead to more efficient procurement and investment.
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Nippon Steel meets with union leaders opposed to US Steel acquisition, seeking understanding
2024-12-09 21:19:00
Regarding Nippon Steel's plan to acquire U.S. Steel, a major American steel manufacturer, the company met with executive members of the steel industry labor union, which is opposed to the acquisition, to reiterate its policy of investing in local steel mills and ask for their understanding.
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New economic stimulus package supplementary budget proposal submitted; discussions on political reform [Events on the 9th]
2024-12-09 20:55:00
The government has submitted to the Diet a supplementary budget proposal for this fiscal year totaling approximately 13.9 trillion yen in the general account, which will support the new economic measures. Additionally, on the 9th, the Liberal Democratic Party submitted a bill to the House of Representatives on its own to revise the Political Funds Control Act, while the Constitutional Democratic Party submitted a bill together with some other opposition parties. The ruling Komeito Party and the opposition Democratic Party for the People will jointly submit a bill on the 10th. Here is a summary of the action in the Diet on the 9th.
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South Korea's stock market representative stock price index KOSPI hits lowest price this year
2024-12-09 20:00:00
On the 9th, South Korea's stock market saw a wide range of stocks sell off due to concerns that the political turmoil would continue for a long time, and the closing price of the country's leading stock price index fell 2.7% from the previous week's close, hitting a new low for the year.
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JERA announces integration of offshore wind power generation business with major British oil company bp
2024-12-09 19:33:00
JERA, Japan's largest power generation company, has announced that it will merge its offshore wind power generation business with bp, a major British oil company.
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Narita Airport: Study group to secure foreign talent, relevant agencies exchange opinions
2024-12-09 19:00:00
Amid a shortage of ground handling staff at airports, which involves guiding aircraft on the ground and loading and unloading baggage, a study group was held at Narita Airport on the 9th to discuss securing foreign personnel, with relevant agencies exchanging opinions on the acceptance system.
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Yen exchange rate: Small fluctuations against the dollar
2024-12-09 18:33:00
On the 9th, the yen fluctuated slightly against the dollar on the Tokyo foreign exchange market.
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Keidanren Chairman's 2040 Vision: Need to Realize "Social Security for All Generations"
2024-12-09 17:44:00
Keidanren Chairman Tokura says it is necessary to compile a vision for the economy and society we should aim for in 2040, reduce the social insurance burden on the working generation, and realize a fair, equitable, and sustainable "social security for all generations."
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More than 9,000 bankruptcies nationwide as of November this year, up 17% from the same period last year
2024-12-09 17:38:00
The number of companies that went bankrupt from January to November this year exceeded 9,000 nationwide, up 17% from the same period last year. A private research company said the number of bankruptcies was on the rise due to rising prices and labor shortages.
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November Economy Watchers Survey: First improvement in three months from previous month
2024-12-09 17:23:00
The November Economic Watchers Survey, which asks working people about their economic feelings, showed that an index showing the current state of the economy improved from the previous month for the first time in three months, due to a recovery in inbound demand and other factors.
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New economic stimulus package supplementary budget proposal submitted; discussions on political reform [Events on the 9th]
2024-12-09 16:45:00
The government has submitted to the Diet a supplementary budget for this fiscal year totaling approximately 13.9 trillion yen in the general account, which will support new economic measures. In addition, active discussions are taking place in the Diet regarding political reform, including the re-revision of the Political Funds Control Act. We will provide you with a regular update on the progress of the Diet on the 9th.
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Stock prices rise slightly as more buy orders come in on the prospect of further interest rate cuts from the US Fed
2024-12-09 16:12:00
On the 9th, the Nikkei Stock Average on the Tokyo Stock Exchange rose slightly as buying orders increased due to expectations that the US Federal Reserve will implement additional interest rate cuts at its meeting next week, which will support the economy.
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New economic stimulus package supplementary budget proposal submitted; discussions on political reform [Events on the 9th]
2024-12-09 15:36:00
The government has submitted to the Diet a supplementary budget for this fiscal year totaling approximately 13.9 trillion yen in the general account, which will support new economic measures. In addition, active discussions are taking place in the Diet regarding political reform, including the re-revision of the Political Funds Control Act. We will provide you with a regular update on the progress of the Diet on the 9th.
TOP
New economic stimulus package supplementary budget proposal submitted; discussions on political reform [Events on the 9th]
2024-12-09 14:34:00
The government has submitted to the Diet a supplementary budget for this fiscal year totaling approximately 13.9 trillion yen in the general account, which will support new economic measures. In addition, active discussions are taking place in the Diet regarding political reform, including the re-revision of the Political Funds Control Act. We will provide you with a regular update on the progress of the Diet on the 9th.
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Bluefin tuna Fisheries Agency proposes allocation for next season, projecting increase in all prefectures
2024-12-09 12:50:00
Following the decision to increase the catch quota for large bluefin tuna in the western and central Pacific by 1.5 times, the Fisheries Agency has presented its proposed allocation for next season, and all relevant prefectures are expected to be able to catch more this season.
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Stock prices rise as US Fed puts in buy orders for many stocks in anticipation of further interest rate cuts
2024-12-09 12:29:00
The Nikkei average rose on the Tokyo stock market on Monday, the 9th, as many stocks received buy orders due to expectations that the US Federal Reserve will implement additional interest rate cuts at its meeting next week, which will support the economy.
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China's November consumer price index rises 0.2% from the same month last year, marking 10th consecutive month of growth
2024-12-09 12:17:00
China's consumer price index rose 0.2% in November compared to the same month last year, marking the 10th consecutive month of positive growth. However, as consumers become more frugal, prices of items such as cars are falling, and concerns about deflation continue.
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Narita Airport Company's interim financial results: First half sales hit record high of 127.6 billion yen
2024-12-09 11:23:00
Narita Airport Corporation's interim financial results for the period up to September this year showed sales of 127.6 billion yen, the highest ever for the first half of the year, thanks to an increase in foreign passengers due to the weak yen and strong sales of merchandise.
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The government submits a new supplementary budget for this fiscal year to the Diet
2024-12-09 11:15:00
The government has submitted to the Diet a draft supplementary budget for this fiscal year, with the general account amounting to approximately 13.9 trillion yen, which will support new economic measures.
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July-September GDP growth rate revised upward to 1.2% on an annualized basis
2024-12-09 10:35:00
The revised figure for GDP (gross domestic product) for the July-September period of this year was revised upward to an annualized real growth rate of 1.2% from the preliminary figure of 0.9% released in November.
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Current account surplus of 2.4569 trillion yen in October, 21st consecutive month of surplus
2024-12-09 10:28:00
Japan's current account balance, which shows how much it earned from trade and investment with other countries, was a surplus of 2.4569 trillion yen in October of this year. This is the 21st consecutive month of surpluses, mainly due to the fact that dividends and interest received by companies on overseas investments was the largest ever for that month.
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July-September GDP real growth rate revised upward to 1.2% on an annualized basis
2024-12-09 09:07:00
The Cabinet Office announced on the 9th that the real GDP growth rate for July to September of this year was 1.2% on an annualized basis compared to the previous three months. This was an upward revision from the preliminary figure of 0.9% announced on November 15th.
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Financial Services Agency and Japan Securities Dealers Association to set up conference to support startups
2024-12-09 07:47:00
The Financial Services Agency and the Japan Securities Dealers Association have decided to launch a new conference to attract capital to startup companies and support their growth. The conference will consider specific measures to increase the number of professional investors who can trade stocks of unlisted companies and to stimulate fundraising.
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Telecommunications companies move to collect used electronic devices such as mobile devices and reuse materials
2024-12-09 07:19:00
In an effort to promote the utilization of second-hand electronic devices and the reuse of materials, telecommunications companies are beginning to collect mobile devices, computers, and other such devices by offering points or purchasing them.
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