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Corea del Sud
Industry Minister Asks Auto Industry CEOs to Increase Investment in Future Cars
The government requested the nation's auto makers including Hyundai Motor, Kia Motors, and GM Korea to increase investment in future cars such as the electric vehicle, hydrogen vehicle, and driverless car. On August 17, Minister of Trade, Industry, and Energy Joo Hyung-hwan explained in a breakfast meeting with auto industry ...
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USA
Korea's Imports of Foreign Tires Up 64% in 5 Years
Korea's tire market appears to have entered a saturation phase. The sales of import tires, however, are enjoying rapid growth. Backed by the rising popularity of import cars over the past several years, import tires are making forays into domestic original equipment tire market. According to industry sources on August ...
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Cina USA
China's LeEco Set to Build Massive EV Factory in Zhejiang
LeEco, China's info-tech and entertainment company, will build an electric vehicle plant at the cost of 12 billion yuan (US$1.8 billion). Foreign media reports including the Wall Street Journal said on August 11 that the "Chinese NetFlix" would establish an EV factory in Huzhou City, Zhejiang Province, in the eastern ...
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Giappone
Extra budget to push Japan FY 2016 outlays over ¥100 trillion
The Cabinet approved Wednesday a draft second extra budget for fiscal 2016 to stimulate the flagging economy, bringing total public outlays for the year through March to over ¥100 trillion ($996 billion). The extra budget reflects Prime Minister Shinzo Abe’s push to lift the world’s third-biggest economy out of chronic ...
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USA Giappone
Dollar firms ahead of Yellen speech
The dollar held firmer at around ¥100.30 in Tokyo on Wednesday amid muted trading ahead of a key economic event in the United States later this week. At 5 p.m., the dollar stood at ¥100.27-28, up from ¥100.10-10 the same time Tuesday. The euro was at $1.1297-1297, down from $1.1344-1345, ...
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Giappone
Tokyo stocks rebound 99.9 points on yen pause
Stocks posted a modest rebound Wednesday, buoyed by buybacks of large-cap mainstay issues that reflected a pause in the yen’s advance against the dollar. The 225-issue Nikkei average climbed 99.94 points, or 0.61 percent, to end at 16,597.30 on the Tokyo Stock Exchange. On Tuesday, the key market gauge fell ...
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Giappone
TICAD expected to prime Japanese investment push as Africa’s middle class swells
The upcoming sixth Tokyo International Conference on African Development, or TICAD VI, is expected to accelerate Japanese investment in the continent’s increasingly attractive consumer markets. A range of firms are already present or are about to enter, ranging from a motorcycle manufacturer to a chicken restaurant operator and a maker ...
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Giappone
FSA extends safety net for banks, insurers ahead of Britain’s EU exit
The Financial Services Agency is extending provisions that help regional financial institutions get public funds in response to risks posed by Britain’s vote to leave the European Union, sources say. The regulator, which oversees banks, securities brokerages and other financial institutions, is extending by five years a program that allows ...
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Giappone
Japan needs ¥10 trillion in fiscal stimulus in each of next two years, says Abe adviser
Japan should spend ¥10 trillion ($99.83 billion) on fiscal stimulus both in fiscal 2017 and 2018 to offset the economy’s lack of demand and eliminate the risk of deflation, an adviser to Prime Minister Shinzo Abe said. Abe has already compiled a stimulus package for the current fiscal year with ...
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Giappone
Lawson HMV to open record store in Shinjuku as needle points to vinyl revival
Lawson HMV Entertainment Inc. will open a record store in Tokyo’s Shinjuku Ward to tap the growing popularity of retro music technology, sources say. Aside from collectors, vinyl is becoming popular with younger generations of music fans at a time when compact disc sales are falling as more people flock ...