JPY Financial News

Once bitten, twice shy? Not with dollar bulls, and not when the prey is the yen.

LONDON (Reuters) -Oil surged, along with European defence stocks, while airline shares plunged after Israel pounded the Palestinian enclave of Gaza in retaliation for one of the bloodiest attacks in its history, unleashing fears of a wider Middle East conflict.

Devendra Fadnavis met with the officials of one of the largest power generation companies 'JERA', which has invested in the Indian renewables power production space in 2016, and welcomed the company to once again invest in Maharashtra. Fadnavis met JERA's Senior Management officials Yuichiro Kato, Executive Officer, Head of the Low Carbon Fuel Value Chain Division, Toshihiro Oki, Executive Officer, Head of Renewable Energy Business Group and Tsuyoshi Oyama — General Manager, Head of Hydrogen and Ammonia Upstream Business Unit. The officials briefed Fadnavis about JERA business in Japan and globally. «JERA was created through the consolidation of the fuel and thermal power departments of the Tokyo Electric Power Company and the Chubu Electric Power Company. They have total assets of JPY 8.7 trillion / USD 60 bn.

New Delhi: State-owned Power Finance Corporation (PFC) on Monday said it has signed a loan agreement with Japan Bank for International Cooperation (JBIC) for JPY 1.85 billion or $1.28 million for a waste-to-energy project in Karnataka. The agreement was signed under the long-term facility of JPY 30 billion provided by JBIC to PFC.

S. Jaishankar held the 15th India-Japan Foreign Ministers' Strategic Dialogue with Yoshimasa Hayashi, Minister of Foreign Affairs of Japan here on Thursday. They explored potential areas of collaboration in critical and emerging technologies, including semiconductors; resilient supply chains; and digital public infrastructure, among others. The meeting provided an opportunity to review the progress made in the India-Japan Special Strategic and Global Partnership. The Ministers engaged in comprehensive discussions covering a wide range of issues of bilateral, regional, and global significance. They highlighted the importance of further strengthening India-Japan partnership based on shared values and principles. The Ministers emphasized the importance of achieving the target of JPY 5 trillion Japanese investment in India in the period 2022-27.

BoE Gov Bailey Speaks (on July 09): Bank of England (BOE) Governor Andrew Bailey (Mar 2020 - Mar 2028) is to speak. As head of the BOE's Monetary Policy Committee (MPC) which controls short term interest rates, Bailey has more influence over sterling's value than any other person. Traders scrutinize his public engagements for clues regarding future monetary policy.

The central Bank of Japan (BoJ) has stated that regulated stablecoins and a forthcoming central bank digital currency (CBDC) can coexist – and has given the clearest signal so far that Japan will launch a digital yen.

Under the pilot, DBS Bank, JPMorgan and SBI Digital Asset Holdings conducted foreign exchange and government bond transactions against liquidity pools comprising of tokenised Singapore Government Securities Bonds, Japanese Government Bonds, Japanese Yen (JPY) and Singapore Dollar (SGD). A live cross-currency transaction with real-world assets was conducted as an isolated exercise using tokenised JPY and SGD deposits, alongside a simulated test involving the buying and selling of tokenised government bonds.

Researchers from the Institute of World Economics and Politics under the Chinese Academy of Social Sciences have proposed a bold plan to combat the U.S. Dollar’s influence in their part of the world. 

Mitsubishi UFJ Financial Group, Mizuho Financial Group and Sumitomo Mitsui Financial Group are among the firms from a range of industries backing the tentatively named Digital Currency JPY (DCJPY) project, which has been in the works since last year. The consortium has now released a progress report and a white paper.