Latest news with #Finance Ministry
NHK
14 hours ago
- Business
- NHK
Japan Finance Ministry upgrades economic assessment for Okinawa
Okinawa is enjoying an economic rebound thanks to some strong tourism numbers, according to Japan's Finance Ministry. Officials have upgraded their economic assessment for the southern island prefecture to "recovering", up from the previous "moderately recovering." The ministry's local bureau chiefs held a quarterly meeting on Tuesday, and said Okinawa is seeing a sharp rise in inbound visitor numbers, due in part to more flights. They said hotels and other tourism businesses are thriving, and retail sales are up. The officials said the opening last week of the Junglia Okinawa amusement park has helped to fill hotel rooms. But elsewhere the picture is less rosy. The ministry kept its assessment unchanged for all 10 other regions, and says the Japanese economy overall is picking up moderately, a phrase unchanged for two years.
Japan Times
16 hours ago
- Business
- Japan Times
Finance Ministry upgrades economic view on Okinawa
The Finance Ministry on Tuesday upgraded its economic view on Okinawa Prefecture, reflecting robust vehicle sales and an increase in Japanese and foreign tourists. In a quarterly report, the ministry left its view on the other 10 regions unchanged. It also adopted the same national economic assessment for the ninth straight quarter, saying that the economy remains on a gradual recovery trend. The ministry's local finance bureaus across the country reviewed regional economic situations in the past three months and reported the outcome at a meeting of local bureau heads Tuesday. By category, the government upgraded its view on private consumption in the Tohoku region and Okinawa while revising down that in the southwestern region comprising Fukuoka and two nearby prefectures. Regarding production, the ministry downgraded its view on the Hokuriku region and the Kinki region but upgraded that on Okinawa. "It is unclear how the U.S. tariff policies will affect the economy," a machinery industry company in Kinki was quoted as saying. "Corporate investment related to vehicle production may have been postponed, leading to sluggish demand for analytical instruments." On employment, the ministry left its view unchanged in all 11 regions. Looking ahead, it said the economy is expected to recover moderately, backed by improvement in employment and income conditions. It also called for a close watch on effects of persisting inflation and the U.S. trade policies.
Bloomberg
18-07-2025
- Business
- Bloomberg
Egypt Plans $4 Billion in International Bonds Over the Next Year
Egypt plans to issue $4 billion of international bonds over the next 12 months, seeking to diversify its financing sources while overhauling the economy after the worst crisis in a generation. Authorities are mulling instruments that include euro- and dollar-denominated securities and sustainability bonds to take care of about 40% of Egypt's external funding needs for the current fiscal year, according to Finance Minister Ahmed Kouchouk.
Yahoo
17-07-2025
- Business
- Yahoo
Japan racks up trade deficit amid threat from Trump's tariffs
TOKYO (AP) — Japan sank into a trade deficit of 2.2 trillion yen ($15 billion) for the first six month of this year, according to government data released Thursday, as exports were hit by President Donald Trump's tariffs. In June, Japan's exports slipped 0.5% from a year earlier after its shipments of vehicles and other products were slapped with a 25% tariff. President Donald Trump has postponed implementing that higher import duty until Aug. 1, to allow time for negotiations but so far no deal has been reached. Exports in June totaled nearly 9.2 trillion yen ($62 billion), in the second straight month of declines. Imports in June rose 0.2% to 9 trillion yen ($61 billion), the Finance Ministry said. That left a trade surplus of 153 billion yen (just over $1 billion). The trade deficit in May was 637.6 billion yen, or $4.4 billion. Japan's exports to the United States fell 11% in June, with auto exports plunging 25%. Shipments to China decreased by nearly 5%. Exports to Mexico, a major auto assembly hub for North America for Japanese automakers, fell nearly 20%. In the first half of the year, Japan's exports totaled 53.4 trillion yen ($360 billion), up 3.6%, while imports rose 1.3% to 55.6 trillion yen ($375 billion). Japan and the U.S. have been holding trade talks, with Japanese officials stressing that Japan is a key U.S. ally. Trump has focused on rice, a sector traditionally protected from foreign competition for the sake of Japan's food security. Japan imports more than 300,000 tons of rice a year from the U.S., according to various data, although some of that is used for animal feed. Japan will hold an election for the Upper House of Parliament on Sunday. Given falling public support for Prime Minister Shigeru Ishiba's administration, the conservative and pro-business ruling Liberal Democratic Party could lose its majority unless it gains another coalition partner. Japan's economy contracted at an annual rate of 0.7% in the first quarter of this year compared to the previous quarter, partly due to slowing exports. ___ Yuri Kageyama is on Threads:
Associated Press
17-07-2025
- Business
- Associated Press
Japan racks up trade deficit amid threat from Trump's tariffs
TOKYO (AP) — Japan sank into a trade deficit of 2.2 trillion yen ($15 billion) for the first six month of this year, according to government data released Thursday, as exports were hit by President Donald Trump's tariffs. In June, Japan's exports slipped 0.5% from a year earlier after its shipments of vehicles and other products were slapped with a 25% tariff. Trump has postponed implementing that higher import duty until Aug. 1, to allow time for negotiations but so far no deal has been reached. Exports in June totaled nearly 9.2 trillion yen ($62 billion), in the second straight month of declines. Imports in June rose 0.2% to 9 trillion yen ($61 billion), the Finance Ministry said. That left a trade surplus of 153 billion yen (just over $1 billion). The trade deficit in May was 637.6 billion yen, or $4.4 billion. Japan's exports to the United States fell 11% in June, with auto exports plunging 25%. Shipments to China decreased by nearly 5%. Exports to Mexico, a major auto assembly hub for North America for Japanese automakers, fell nearly 20%. In the first half of the year, Japan's exports totaled 53.4 trillion yen ($360 billion), up 3.6%, while imports rose 1.3% to 55.6 trillion yen ($375 billion). Japan and the U.S. have been holding trade talks, with Japanese officials stressing that Japan is a key U.S. ally. Trump has focused on rice, a sector traditionally protected from foreign competition for the sake of Japan's food security. Japan imports more than 300,000 tons of rice a year from the U.S., according to various data, although some of that is used for animal feed. Japan will hold an election for the Upper House of Parliament on Sunday. Given falling public support for Prime Minister Shigeru Ishiba's administration, the conservative and pro-business ruling Liberal Democratic Party could lose its majority unless it gains another coalition partner. Japan's economy contracted at an annual rate of 0.7% in the first quarter of this year compared to the previous quarter, partly due to slowing exports. ___ Yuri Kageyama is on Threads:
