Japanese Prime Minister Naoto Kan on Saturday attended the 66th anniversary in Hiroshima of the world’s first atomic bomb attack, and reaffirmed the need to reduce the country’s reliance on nuclear energy. In his speech during the service to commemorate the 1945 bombing, Mr. Kan said Japan would examine the causes of this year’s nuclear […]
Japan Marks 66th Anniversary of Hiroshima Atomic Bombing
Posted August 6th, 2011 at 2:20 am (UTC-5)
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China, Japan Brace as Super Typhoon Muifa Approaches
Posted August 4th, 2011 at 4:55 am (UTC-5)
A super typhoon is barreling into the East China Sea toward Shanghai with winds up to 198 kilometers per hour at its core. Chinese authorities have begun ordering fishing boats back to shore, while Japanese officials have canceled flights in Okinawa, stranding hundreds of passengers. Late Thursday, Typhoon Muifa was positioned near the Ryukyu Islands, […]
Japan Intervenes in Markets to Drive Down Yen
Posted August 4th, 2011 at 4:05 am (UTC-5)
Japan intervened in currency markets Thursday, driving down the yen by more than 3 percent in an effort to shore up its export sector. Finance Minister Yoshihiko Noda said Japan’s recovery from its twin disasters was threatened by the rise of the yen, which was approaching a post-World War Two high. That record was set […]
Japanese Industrial Giants Consider Merger
Posted August 4th, 2011 at 2:45 am (UTC-5)
Hitachi Limited and Mitsubishi Heavy Industries, two of Japan’s biggest manufacturers, are considering merging several of their infrastructure operations. With combined annual sales of more than $150 billion, the potential merger would create one of the world’s biggest infrastructure firms. Shares of both Hitachi and Mitsubishi rose Thursday, hours after Hitachi President Hiroaki Nakanishi announced […]
Japan Fires Three Top Officials Over Handling of Nuclear Crisis
Posted August 3rd, 2011 at 11:40 pm (UTC-5)
Japan’s government says it is firing three high-ranking officials in connection with their handling of the crisis at the Fukushima Daichi nuclear plant. Trade and Industry Minister Banri Kaieda said Thursday he will replace the head of Japan’s nuclear safety agency, the head of the energy agency and a vice minister in his own ministry. […]
Japan Intervenes to Curb Rising Yen
Posted August 3rd, 2011 at 11:15 pm (UTC-5)
Japan intervened in currency markets Thursday to drive down the yen. Finance Minister Yoshihiko Noda said the country’s fragile recovery from its twin disasters was threatened by the rise of the yen, which was approaching a post-World War Two high set immediately after the March 11 earthquake and tsunami. Other leading economic powers joined with […]
China Displeased by Japanese Report on Chinese Military
Posted August 3rd, 2011 at 10:30 pm (UTC-5)
China says it is displeased by a Japanese government report that criticizes China’s military build-up. Tokyo says a more modern Chinese navy and air force means Beijing’s sphere of influence is likely to grow beyond Chinese waters. It said China can be expected to carry out naval activities in waters surrounding Japan. Japan says China […]
Japanese Lawmakers Pass Fukushima Compensation Plan
Posted August 3rd, 2011 at 6:25 am (UTC-5)
The Japanese parliament has approved a plan to compensate the victims of the Fukushima Daiichi nuclear plant disaster. The legislation creates a special fund that Fukushima owner and operator Tokyo Electric Power Company will use to pay reparations to tens of thousands of residents forced to evacuate a 20-kilometer area surrounding the plant. The fund […]
UN Chief to Visit Fukushima, Meet Japanese Nuclear Evacuees
Posted August 3rd, 2011 at 12:05 am (UTC-5)
U.N. Secretary General Ban Ki-moon will tour tsunami-stricken areas near the Fukushima nuclear plant during a visit to Japan next week. The United Nations said Tuesday that Mr. Ban wants to see first-hand the devastation caused by the March 11 earthquake and tsunami that leveled whole towns and left more than 20,000 people dead or […]
Japan Signals Currency Intervention to Weaken Yen
Posted August 2nd, 2011 at 5:30 am (UTC-5)
Japanese officials are hinting at plans to intervene in the currency market to tame the fast-rising yen. Finance Minister Yoshihiko Noda told parliament Tuesday he is keeping a close eye on currency markets. He said he believes the yen is overvalued, which could hurt exporters and undermine the nation’s recovery from its March 11 natural […]
