ECONOMY

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ECONOMY

Gov’t looking into loan program to help foster entrepreneurship in Okinawa

The government is considering introducing a lending scheme to help foster entrepreneurship in Okinawa, a source familiar with the matter revealed on June 26. It seeks to allocate about 1 billion yen in a budgetary draft for fiscal 2017 in the hope that the program will help create jobs and boost the local economy there. With conflicts over the Futenma….Read more

  • June 27, 2016
  • , Sankei , p. 2
  • summary

ECONOMY > Trade

TPP will face rough going in Congress after Obama

With only seven months left, the Obama administration is accelerating efforts to gain TPP approval from the Congress before the end of the year.   According to U.S. Trade Representative Michael Froman, the administration is moving to prepare a bill to present to the Congress for approval.   If the TPP bill does not pass Congress under the Obama administration,….Read more

  • June 23, 2016
  • , Asahi , P. 9
  • Translation

ECONOMY > Trade

TPP’s fate will affect other trade negotiations

One of pillars of the government’s growth strategy is the Trans-Pacific Partnership (TPP) agreement reached by 12 nations that would eliminate or reduce trade tariffs. The challenge now is how to pave the way for both chambers’ approval and passage of related bills.   The Democratic Party (DP) and other opposition parties claim that the TPP violates a Diet resolution….Read more

  • June 23, 2016
  • , Mainichi , p. 6
  • Translation

ECONOMY

MOF to create new post in charge of economic policy

The Ministry of Finance (MOF) will create a new position at the division chief level in charge of planning and formulating macroeconomic policy in its Policy Planning and Research Division as early as June 22. The appointee will focus on formulating policy to boost the economy such as economic measures and growth strategies. Some speculate that MOF is seeking ways….Read more

  • June 22, 2016
  • , Nikkei , p. 4
  • Translation

ECONOMY > Trade

Clinton’s opposition makes U.S. ratification of TPP uncertain

Most papers took up presumptive Democratic presidential nominee Hillary Clinton’s speech in Ohio on Tuesday, during which she disclosed her intention to seek renegotiation of the TPP agreement. Speculating that Clinton voiced opposition to the regional free trade deal in response to Donald Trump’s stinging criticism of the trade pact, the articles stressed that congressional endorsement and effectuation of the….Read more

ECONOMY > Trade

Senior GOJ official dismisses renegotiation of TPP accord

Senior GOJ official dismisses renegotiation of TPP accord – Nikkei took up press remarks this morning by Deputy Chief Cabinet Secretary Hagiuda, who dismissed the possibility of Japan reopening TPP negotiations with the U.S. In response to presumptive Democratic presidential nominee Hillary Clinton’s remarks hinting at renegotiations, the government spokesman said the GOJ would not agree to renegotiate the pact….Read more

ECONOMY > Economic Policy

METI looking to foster new industry by combining biotechnology with AI

The Ministry of Economy, Trade and Industry is looking into the creation of a public-private research institute to foster new industries that combine biotechnology and artificial intelligence, a source close to the matter revealed on June 19. The plan will be announced at an experts’ panel meeting that will be convened on June 20. Biotechnology can help accelerate the analysis….Read more

  • June 20, 2016
  • , Sankei , p. 2
  • Translation

ECONOMY > Energy

TEPCO head apologizes for instruction not to use term “meltdown” for Fukushima accident

Asahi front-paged a report saying that Tokyo Electric Power Co. President Hirose apologized on June 21 for his predecessor’s instruction not to use the term “core meltdown” in describing the situation at the Fukushima Daiichi Nuclear Plant in the early days of the crisis, calling it a “cover-up.” The remarks came after a report published on June 16 by a….Read more

ECONOMY > Energy

Extending lifespan of Takahama reactors becomes a tailwind for gov’t nuclear reliance

The approval for extending the operations of Takahama Nuclear Power Plant’s No. 1 and No. 2 reactors will become a tailwind for the government, as it seeks to revive its reliance on nuclear power and has established a goal of increasing nuclear energy’s share of the total energy mix to 20-22% by fiscal 2030. To achieve this goal, it is….Read more

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