The reduction in consumer spending and drop in exports are squeezing the world's third largest economy. During April-June quarter, exports from Japan eased putting further pressure on the Japanese economy, which slowed down at 1.6 percent annual growth rate as against the forecast of 1.9 percent.
Tags: Japan
Chinese firms sign L.A-Las Vegas high-speed rail project
Marking a major development in US-China business relations, a group of firms from the world's second largest economy signed a deal with the US partner XpressWest to build a high-speed rail link between Los Angeles and Las Vegas.
American universities are the most innovative, but Asians are strong contenders
The recent survey from Reuters shows that U.S. universities are the home of the most innovative projects. Though Asian universities have been fairly competent with universities from Korea, Japan, Singapore, and China.
Beauty products are the next big thing in Korean export
While Korea is hurting from a long drop in exports, one industry is booming in shipments and posts double-digit growth. This draws the attention of policymakers seeking for a new way to grow its export.
Three crisp sentences that best summarize the current market condition
Global markets these days have become more and more unpredictable with the US and Chinese stocks' consistent historical upswings and plunges in the past few months. To make things worse, the oil price has hit a six and a half year low. The condition can finally be compared to the days right after the 9/11 attacks.
Latest News
The oil price in the global market continued to skid further on Wednesday touching a new low since March 2009 while crude inventories in the US are increasing.
The Chinese stock market is registering a volatile trading pattern as investors became nervous about the future course of the market. The slowdown in the dragon country's economy growth has become a cause of concern for the investors.
Japan's economy has been facing tough times when its economy began to contract by 0.4% in the year's second quarter. It was an official data shown on Monday emphasizing how the prime minister's 'Abenomics' growth program doesn't work.
Chinese exports tumbled 8.3 percent in July, their biggest drop in four months and far worse than expected, reinforcing expectations that Beijing will be forced to roll out more stimulus to support the world's second-largest economy.
The slowdown in economic growth in major economies is expected to keep the stock markets under four percent annual growth in the near future. The second half of 2015 is expected to be sluggish following the bleak economy outlook for the US, EU and China.
The president of Mitsubishi Motors Corp (7211.T) said Japan, SouthEast Asia and Russia will become the automaker's principal production hubs after it calls time on making cars in the United States later this year because of dwindling output there.
Delta Air Lines Inc (DAL.N) has offered to invest in Japan's bankrupt Skymark Airlines Inc (SKALF.PK) as part of a restructuring plan for the budget carrier, according to a Japanese media report.
Japan said on Saturday it would extend around $6 billion in development aid to Mekong region countries, as China prepares to launch a new institutional lender seen as encroaching on the regional clout of Tokyo and ally Washington.
The Bank of Japan said it expects factory output to fall for the first time in three quarters in April-June on weak Asian demand, underscoring the fragile nature of the economic recovery.
