Japan Financial News

Myanmar’s state-run media say the country's military government has arrested a Japanese business executive, along with dozens of local businessmen, for allegedly selling rice at prices well above the officially regulated ones

There was a major decline in crypto hacks in June, with losses totaling $176 million, according to recent PeckShield data. June numbers mark a 54.2% drop from the staggering $385 million thieves stole in May.

Birla group firm Kesoram Industries on Tuesday said it remains committed to its loss-making subsidiary, Cygnet Industries Ltd, and will seriously engage in dialogue with its Japanese technical partner, Futamura, as a strategic investor after the demerger of its cement business is completed, a company official said. He was speaking to reporters on Tuesday on the sidelines of the Kesoram's 105th AGM, bustling as usual with shareholders and schoolgirls from Ashok Hall Group attending the meeting, but missing Manjushree Khaitan. She died on May 16. The AGM was chaired by Satish Narain Jajoo, who was elected chairman after the demise of the Birla scion last month. «There is no plan to hive off Cygnet. We are currently focused on the demerger process of the cement business, which is expected by December this year. We continue to believe that Cygnet, which has innovative packaging products in its kitty, can turn around,» Kesoram Industries' whole-time director and CEO, P. Radhakrishnan said.

«In the coming week, we expect stock and sector-specific action as the market starts taking cues from Q1FY25 earnings. On the macro front, investors will look out for inflation data that will be released by India, the US, and China,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services.

First Abu Dhabi Bank on Thursday clarified that it was not evaluating any possible offer for a stake in Indian private lender Yes Bank, as per news agency Reuters. The Middle Eastern lender was apparently among those evaluating a $5 billion stake in Yes Bank for around 51 per cent, news agency Bloomberg reported on Wednesday citing sources. The other suitors included Japan-based Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc. Following this news, shares of Yes Bank jumped as much as 8.5 per cent. The stock has climbed around 25 per cent this year so far. State Bank of India has reduced its stake in Yes Bank, which it rescued four years ago from a crisis of bad loans. Despite the reduction, SBI remains the largest shareholder with a 24 per cent stake. The impending end of SBI Chairman Dinesh Khara’s tenure in August could potentially delay any deals involving Yes Bank. A government-appointed panel has recommended Challa Sreenivasulu Setty as his successor.

Japan's Nikkei 225 share index has closed at another record high, gaining 0.6% to close Wednesday at 41,831,99

optimistic growth projections for India's GDP. The expectation is that it may surpass many developed countries such as Germany and Japan. Which sector could benefit the most from this anticipated growth in GDP? The wire industry is poised to be a frontrunner.

Japanese investment firm Metaplanet has announced the acquisition of over 20.2 Bitcoin as part of its ongoing strategy to bolster its BTC holdings.

Asian shares are trading mostly higher after Wall Street benchmarks reached more milestones

Japan's Nikkei 225 stock index has ended at a record high close

dollar hit a near 38-year high to the yen on Tuesday following a surge in Treasury yields as investors contemplated prospects of a second Donald Trump presidency. Japan's weak currency helped lift the Nikkei above the psychological 40,000 mark for the first time in three months, making the index an outlier as many other regional stock markets struggled.

Eight years ago Yuriko Koike became the first woman to lead Tokyo, beating her male predecessor

People's Liberation Army exploding and destroying US fighter jets worth £78,000 each when the two countries are not at war? Not exactly. There is no US-China war and the Chinese Army has not bombed the US Air Force. What they have done is taking mock drills of exploding jet fighters as a part of their training exercise. According to 'Express', Airbus and Google Earth have captured the images showing destroying US F-35 and F-22 fighter jets in a remote desert area in northwest China. The satellite pictures suggest that the Chinese military destroyed these dummy aircraft with a nearby runway displaying scorch marks and bomb blast craters.

Bitcoin was set for its biggest weekly fall in more than a year on Friday, as traders fretted over the likely dumping of tokens from defunct Japanese exchange Mt. Gox and further selling by leveraged players after the cryptocurrency's strong run. The price of the world's largest cryptocurrency slid as much as 8% on the day to $53,523, its lowest since late February.

Gautam Adani is looking to start building ships at the group's flagship port at Mundra, also the country's largest, as yards in top nations such as China, South Korea and Japan are booked out until at least 2028, forcing global fleet owners to look at alternate manufacturing sites including India for new vessels. This fits in with India's ambitious bid to become a top 10 shipbuilder as per the Maritime India Vision 2030 and move into the top five by 2047 as detailed in the Maritime Amrit Kaal Vision. India is currently ranked 20th in the world commercial shipbuilding market with a marginal share of 0.05%. Indian-owned and flagged ships account for about 5% of the total overseas cargo-carrying requirements of the country. Adani's previously unreported shipbuilding scheme is tucked away in the ₹45,000 crore expansion plan for Mundra Port that received environmental and coastal regulation zone clearance recently, according to the minutes of the Expert Appraisal Committee (EAC) attached to the ministry of environment, forest and climate change, which approved the proposal May 15.

Volvo Cars will launch only electric cars in India going forward and not sell petrol and diesel-powered vehicles in the market “beyond the 2030 deadline”, a top executive said. “The new products that we will bring to the market will be electric,” Martin Persson, head of Volvo Cars for the Asia Pacific (except China) region, told ET. “We still have the ICE (internal combustion engine) products and we think they are competitive for customers who want that. It is not about taking that away. But, at the same time, the future is pretty clear.” Globally, Volvo Cars plans to go all electric by the end of the decade.

interest-rate cuts after Jerome Powell cited signals that the US is back on a disinflationary path. Equity benchmarks climbed in Japan, Australia and South Korea, while futures for Hong Kong stocks pointed to a positive start. Contracts for the S&P 500 edged lower after the benchmark closed above 5,500 for the first time — the gauge’s 32nd record this year — to extend a blistering rally that has left analysts scrambling to update their targets. Tesla Inc. surged 10% to lead gains in megacaps, helping the Nasdaq 100 close above the 20,000 mark for the first time.

Power sector financier REC Limited has raised 31.96 billion Japanese yen through a 5-year green loan, with the transaction being conducted from Deutsche Bank’s Gift City branch. The loan, which is equivalent to $200 million, will be used to finance eligible green projects in India, REC said in a statement. “This successful transaction is in line with REC’s commitment to enhance its green energy financing and sustainable projects capabilities as well as the global community’s support for sustainable development projects in India,” said Vivek Kumar Dewangan, CMD, REC.

Q. What economic concerns are central in Britain’s 2024 election? A. Britain faces certain structural challenges now — growth is limping back to a very low level after a practically recessionary situation. It is unclear how GDP will increase. This problem is shared by other European economies and Japan as well. The United States escapes this by being a vast market with more robust demographics while Europe and Japan are ageing — one solution is immigration but it’s a highly problematic political issue in the UK. So, in Britain currently, there is no clear route to growth beyond 1% or 2% — we are not talking about anything close to the 6% or 7% seen in India.

Indian Express “ignorance about sleep is quite profound" among athletes. Though both Bindra and Chopra won golds, in an intensely competitive forum where everyone is looking for an edge, “getting optimum sleep and restorative sleep definitely gives them that edge." Sharma is couching this in terms of removing the chance that lack of sleep might cost India a medal. But even those of us not chasing an Olympic medal know a thing or two about poor sleep.

Federal Reserve could begin cutting interest rates in September. Nonfarm U.S. payrolls increased by 206,000 jobs last month, the Labor Department report showed. Data for May was revised sharply down to show 218,000 jobs added instead of the previously reported 272,000. The unemployment rate rose to 4.1%, slightly higher than the estimated 4.0%.