Tag Archives: Asia

Japan Corporate Tax-Cut Plan Includes Enforcement Step-Up

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“With an underperforming stock market flagging a warning that investor interest in Abenomics is waning, Abe’s government is preparing for June a round of structural changes designed to boost potential growth in the world’s No. 3 economy.  Corporate-tax cuts are envisioned as a centerpiece of this year’s installment of Abe’s ‘third arrow’ of reform — monetary and fiscal stimulus formed the first two arrows.  But Prime Minister Shinzo Abe’s efforts to lower Japan’s corporate tax rate are increasingly set to include steps to ensure more businesses pay at least some levies, a move that endangers the survival of a swathe of smaller firms.”

http://www.bloomberg.com/news/2014-05-01/japan-corporate-tax-cut-plan-spells-pain-for-smaller-businesses.html

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Japan economics minister warns of premature QE exit

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“Japanese Economics Minister Akira Amari warned that it would be premature for the Bank of Japan to consider an exit strategy from its massive stimulus programme, voicing hope instead for further monetary easing if achievement of its inflation goal falls behind schedule.   The central bank has kept policy unchanged since deploying an intense burst of monetary stimulus in April last year, when it pledged to double base money via aggressive asset purchases to accelerate inflation to 2 percent in roughly two years.  With Japan only halfway to meeting that target, the BOJ is set to keep its stimulus plan intact well into next year.”

http://uk.reuters.com/article/2014/07/11/uk-japan-economy-amari-idUKKBN0FG06V20140711

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Japan consumer price growth at 32-year high

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“Consumer prices in Japan rose at an annual rate of 3.4% in May, the fastest pace in 32 years, as the effect of the sales tax hike from 5% to 8% started to be felt.  The price growth in May follows a 3.2% jump in April and is a big boost for Japan’s attempt to trigger inflation.  The country’s central bank has set a target of a 2% inflation rate.  The measures, which include boosting the country’s money supply, have started to have an impact and consumer prices in the country have now risen for 12 months in a row. Policymakers have been hoping that consumers and business will be encouraged to start spending and not hold back on purchases, as they may have to pay more later on.”

http://www.bbc.com/news/business-28031007

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Gamers Hit with Criminal Charges for Cheating Online

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“Online game company Nexon is pressing charges against three gamers, ages 17 to 18, for obstruction of business. In short, the gamers were allegedly using in-game cheats for online FPS Sudden Attack. That, it seems, was hurting the game and Nexon.  Yomiuri Online, one of Japan’s largest newspapers, reports that this is the first time gamers have had criminal liability charged against them in Japan for allegedly using cheat programs.  One of the gamers is a university freshman, another is a 17 year-old vocational school student, and the last of the trio is a 17-year-old high school student.”

http://kotaku.com/forget-banning-online-gamers-are-in-legal-trouble-for-1595789066

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Oil wars exploding; Gold surging

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“Not only do we have new, dangerous wars exploding — or about to explode — in Ukraine, the Middle East and East Asia … Not only are those wars threatening to spread globally … But we are also beginning to see their impact on global markets.  Just connect the dots: Wars drive oil and gas prices skyward … Surging energy costs drive up inflation, threatening to gut the purchasing power of paper currencies … Scared money flees the regions threatened by wars and revolutions, and … Hundreds of billions of dollars rush into gold.  It’s classic. It’s a proven pattern we’ve seen for centuries. And it’s happening now!”

http://www.moneyandmarkets.com/oil-wars-exploding-gold-surging-62472

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Japan to keep printing money for years to come, so learn to enjoy it

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“The authorities are about to funnel large sums into Japanese stocks openly and deliberately under the next phase of Abenomics, both by regulatory fiat and by purchasing the Nikkei index directly with printed money.  Prime minister Shinzo Abe is unshackling the world’s biggest stash of savings, the $1.3 trillion Government Pension Investment Fund (GPIF). Officials say the ceiling on equity holdings will rise from 12pc to around 20pc as soon as August, opening the way for a $100bn buying blitz.  Mr Abe’s move comes sooner than expected and amounts to a market shock, though nobody should be shocked anymore as he keeps doubling down on the world’s most radical economic experiment.”

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/10893607/Japan-to-keep-printing-money-for-years-to-come-so-learn-to-enjoy-it.html

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Living in: The world’s most affordable cities

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“Moving overseas can seem like a costly proposition, at least with all the upfront expenses – but relocating to some cities can actually save you money in the long haul. According to the March 2014 Worldwide Cost of Living Index, affordable cities can be found on almost every continent. The report compares prices of 160 goods and services, from cars to bread to wine, across 131 cities. For reasons of geographical diversity – as well as to include cities whose international communities, career opportunities and levels of safety would particularly appeal to expats – we focused on what it would be like to live in five of the 10 cheapest cities on the Economist’s index.”

http://www.bbc.com/travel/feature/20140523-living-in-the-worlds-most-affordable-cities/1

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In junta-ruled Thailand, reading is now resistance

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“The junta has banned political gatherings of five people or more.  Since taking over, the military has made clear it will tolerate no dissent, and it has launched a major campaign to silence critics and censor the media. The junta has warned all citizens against doing anything that might incite conflict, and the list of targets has been long.  At least 14 partisan TV networks have been shut down along with nearly 3,000 unlicensed community radio stations. Independent international TV channels such as CNN and BBC have been blocked along with more than 300 Web pages. Journalists and academics have been summoned by the army.”

http://news.yahoo.com/junta-ruled-thailand-reading-now-resistance-152729290.html

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Hong Kong Brokers Drive Cabs as Competition Forces Locals Out [2013]

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“Fees have dropped since bourse operator Hong Kong Exchanges & Clearing Ltd. in 2003 removed a brokerage commission floor of 0.25 percent of the value of transactions, squeezing profits for brokers as mainland Chinese rivals expand operations.  Eleven brokerages have ceased trading this year, according to filings posted on the website of the Hong Kong stock exchange.  The number of local broking firms may decline to 300 from about 400 in the next five years, Mofiz Chan, a spokesman of the Hong Kong Securities & Futures Professionals Association, said. ‘There are many people taking part-time jobs or completely moving out of the industry,” Chan said.”

http://www.bloomberg.com/news/2013-07-22/hong-kong-brokers-drive-cabs-as-competition-forces-locals-out.html

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John Kerry Responds To Military Coup In Thailand

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“U.S. Secretary of State John Kerry issued a statement saying: ‘There is no justification for this military coup. While we value our long friendship with the Thai people, this act will have negative implications for the U.S.-Thai relationship, especially for our relationship with the Thai military.’  Who is Kerry kidding? The U.S. national-security state loves military dictatorships for the precise reason given by Thailand’s military dictators as the justification for their coup: establishing order and stability within the country.  U.S. officials, especially those in the Pentagon and CIA, believe in this way of life. They build up military dictatorships. They install them into power. They support them. They partner with them.”

http://fff.org/2014/05/23/a-military-coup-in-thailand/

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