Japan Financial News

Anand Selvakesari (Selva) has been the chief operating officer of Citi since March 2023. He isn't popular with all his colleagues, but anyone celebrating his downfall might want to put the party hats away.

In today’s article, we will be discussing about best refrigerators by Panasonic. Known to be one of the topmost appliance brands in Japan, Panasonic has established its place in Indian homes as well. Their refrigerators are smart, energy efficient and offer plenty of storage space for food items. Let’s take a look at look at the list of 10 best Panasonic refrigerators in the article below.

U.S.-China Economic and Security Review Commission has raised alarms about China's military capabilities, suggesting that the nation poses a significant threat to US interests in the Indo-Pacific region. The comprehensive 793-page document, which draws from both classified and unclassified sources, indicates that China's military might now has the potential to outmatch U.S. forces in a future regional conflict. The report highlights that Beijing's military expansion over the past two decades has focused on developing a formidable arsenal of missiles, ships, aircraft, and advanced systems designed for potential conflicts in the Indo-Pacific. «It warns that, as result, US. forces and bases in the region would face a significant threat from the [People’s Liberation Army] in any regional contingency involving treaty allies and/or security partners, and the outcome of any such conflict is far from certain.» Despite the evident military advancements, the report notes that while China is bolstering its military readiness, it does not currently believe that an armed conflict is imminent. “There is ample evidence that China’s armed forces are enhancing their general military preparedness, but little evidence they are mobilizing for an imminent conflict at this time,” the report states.

Tax Justice Network's 'State of Tax Justice 2024' report was made public on Tuesday. It has dropped like a grenade into the neatly-raked zen garden of global finance. The report reveals a staggering $492 bn lost annually to global tax- dodging that's lounging in secret offshore accounts, funding billionaire jets, yachts and even booking for future intergalactic travel. This is a tale of two kinds of tax-avoiders: one, corporate; the other, personal. Two-thirds of the total $347.6 bn comes from MNCs playing an elaborate game of offshore hopscotch to underpay taxes. The remaining third, $144.8 bn, stems from HNIs hiding their treasure chests in tax havens. So, who's enabling this grand evasion? Eight countries, the 'Elite Eight', are at the forefront: Australia, Canada, Israel, Japan, New Zealand, South Korea, Britain and the US. Together, these economic heavyweights are responsible for nearly half of global tax abuse losses.

World Trade Organization (WTO) India’s quality control orders (QCO) on various products including medical textiles, footwear and viscose staple fibre, and certain measures which restrict its import of copper, wooden boards and tyres. These issues came up at a meeting on market access in WTO on Wednesday. Last year, Canada, Japan, the UK and the EU had raised concerns at India’s QCOs terming them protectionist. “Some new trade concerns pertaining to India’s QCOs were raised at the meeting,” said a Geneva-based official.

Subscribe to enjoy similar stories. New Delhi: As state-run NTPC is set start construction of its green hydrogen hub in Andhra Pradesh by the end of the month, the company is in talks with possible buyers of the green molecule. NTPC is in talks with Japan's EPC major Toyo Engineering Corp.

United Nations Security Council (UNSC), emphasising the Council’s outdated structure, which no longer reflects modern global realities. Speaking at Columbia University's School of International and Public Affairs, India’s Permanent Representative to the UN, Ambassador Parvathaneni Harish, stated, «The Security Council structure, as it stands today, is a reflection of 1945. It does not reflect today's realities.» Harish, delivering a keynote address titled Responding to Key Global Challenges: The India Way, underscored that the current framework hinders the UNSC’s ability to tackle pressing issues effectively.

Asian stocks are mostly lower, despite gains on Wall Street, as worries mount over escalations in the Russia-Ukraine war

Japan racked up a trade deficit in October for the fourth month in a row, as a weak yen and rising energy prices kept import costs high

«Surging steel imports is a major concern especially from surplus and major exporting countries including China, Japan and Korea,» the Indian Steel Association (ISA), a producers' body, said in its presentation to the Directorate General of Trade Remedies (DGTR), an arm of the federal trade ministry. The steel industry's presentation to DGTR has not been previously reported.

Subscribe to enjoy similar stories. “WE WORK for the nation, not for the cabinet minister," crows Kazagoshi Shingo, the hero of “The Summer of Bureaucrats", a Japanese novel. Kazagoshi, an official at the ministry of trade and industry, refuses to rise from his seat to greet his minister, a politician only nominally above him in the hierarchy.

SoftBank Vision Fund’s former co-chief executive officer Rajeev Misra, has upped its size by more than $1 billion this month to support its growing operations as it opens offices in countries such as Japan and India, according to people familiar with the matter. The fundraising has increased OneIM’s size to $8 billion, the people said, asking not to be named as the information is not public. The two-year-old fund plans to open an office in New Delhi, adding to its presence in New York, London, Abu Dhabi and Tokyo, they said. OneIM is backed by Abu Dhabi conglomerate Royal Group and Mubadala Investment Co., one of the emirate’s sovereign wealth funds, Bloomberg News reported earlier. The investment vehicle will look for lending and investment opportunities globally, and some of these deals could be in partnership with its existing backers, the people said.

Trump’s planned administration. Benchmark indexes advanced in Japan, South Korea and Australia, while futures climbed in Hong Kong. The Nasdaq 100 outperformed Monday after its longest rout since January, with Tesla Inc. rising 5.6% on a news report Trump’s transition team have told advisers they plan to make a federal framework for fully self-driving vehicles one of the Transportation Department’s priorities. Nvidia Corp., which reports results this week, fell.

The Houston Astros’ home will get a new name on Jan. 1, becoming Daikin Park under an agreement through the 2039 season

Shares are mixed in Asia after U.S. stocks fell to their worst loss since Election Day

Asian stocks dipped early Monday as traders reined in expectations of Federal Reserve interest rate cuts following fresh signs of US economic resilience. Japanese and Australian shares fell. South Korea’s benchmark bucked the trend, led by Samsung Electronics Co.’s rally after it announced a stock buyback plan. US futures gained, after the S&P 500 slid 1.3% on Friday to erase more than half of its gains following the US election.

Subscribe to enjoy similar stories. India stands out as a compelling growth and transformation story, largely driven by infrastructure, with GDP growth projected at 6.5% or higher in 2024 and 2025—one of the highest growth rates of any peer economy in the world, said Stefan Hofer, managing director and chief investment strategist at LGT Bank Asia. “So, we want to buy that growth." Though, “the natural caution is the valuation," he warned.

RCEP) continues to be justified, according to a recent report by the Global Trade Research Initiative (GTRI). The study highlights that participation in the trade bloc could exacerbate India's trade deficits, particularly with China, and pose challenges to domestic industries, especially small and medium enterprises (MSMEs). India opted out of RCEP in 2019, citing concerns over trade imbalances and the potential harm to local industries. The RCEP, a comprehensive free trade agreement, includes the 10 ASEAN countries and six trade partners—China, Japan, South Korea, Australia, New Zealand, and India (which chose not to join). Together, these countries account for 30% of global GDP and nearly half the world’s population. Key Findings

Russia is solely responsible for preventing a fair settlement to end the war in Ukraine, the G7 said on Saturday, in a statement marking 1,000 days of the Russian invasion. «Russia remains the sole obstacle to just and lasting peace,» the Group of Seven industrialised nations, of which Italy holds the rotating presidency, said in a statement. The G7, which also comprises Britain, Canada, France, Germany, Japan and the United States, confirmed «its commitment to imposing severe costs on Russia through sanctions, export controls and other effective measures».

interest rate cuts and with the view that President-elect Donald Trump's policies could be inflationary. The dollar has benefited from market expectation that Trump administration policies, including tariffs and tax cuts, could stoke inflation, leaving the Federal Reserve less room to cut interest rates.

Leaders of Pacific Rim countries including the U.S. and China have gathered in Peru for an Asia-Pacific Economic Cooperation meeting, the first major global summit since U.S. President-elect Donald Trump’s election victory