By , TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe’s cabinet approved on Wednesday a new $1.1 trillion stimulus package that includes significant direct spending, to stop the coronavirus pandemic pushing the world’s third-largest economy deeper into recession.The record stimulus of 117 trillion yen, which will be funded partly by a second extra budget, followed another 117 trillion yen package rolled out last month.The new package takes Japan’s total spending to combat the virus fallout to 234 trillion yen ($2.18 trillion), or about 40% of gross domestic product.The combined spending...…By , TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe’s cabinet approved on Wednesday a new $1.1 trillion stimulus package that includes significant direct spending, to stop the coronavirus pandemic pushing the world’s third-largest economy deeper into recession.The record stimulus of 117 trillion yen, which will be funded partly by a second extra budget, followed another 117 trillion yen package rolled out last month.The new package takes Japan’s total spending to combat the virus fallout to 234 trillion yen ($2.18 trillion), or about 40% of gross domestic product.The combined spending...WW…

By , TOKYO (Reuters) - Japan’s economy slipped into recession for the first time in 4-1/2 years in the last quarter, putting the nation on course for its deepest postwar slump as the coronavirus crisis ravages businesses and consumers.Monday’s first-quarter GDP data underlined the broadening impact of the outbreak, with exports plunging the most since the devastating March 2011 earthquake as global lockdowns and supply chain disruptions hit shipments of Japanese goods.Analysts warn of an even bleaker picture for the current quarter as consumption crumbled after the government in April...…By , TOKYO (Reuters) - Japan’s economy slipped into recession for the first time in 4-1/2 years in the last quarter, putting the nation on course for its deepest postwar slump as the coronavirus crisis ravages businesses and consumers.Monday’s first-quarter GDP data underlined the broadening impact of the outbreak, with exports plunging the most since the devastating March 2011 earthquake as global lockdowns and supply chain disruptions hit shipments of Japanese goods.Analysts warn of an even bleaker picture for the current quarter as consumption crumbled after the government in April...WW…

By , TOKYO (Reuters) - Japan’s economy slipped into recession for the first time in 4-1/2 years in the last quarter, putting the nation on course for its deepest postwar slump as the coronavirus crisis ravages businesses and consumers.Monday’s first-quarter GDP data underlined the broadening impact of the outbreak, with exports plunging the most since the devastating March 2011 earthquake as global lockdowns and supply chain disruptions hit shipments of Japanese goods.Analysts warn of an even bleaker picture for the current quarter as consumption crumbled after the government in April...…By , TOKYO (Reuters) - Japan’s economy slipped into recession for the first time in 4-1/2 years in the last quarter, putting the nation on course for its deepest postwar slump as the coronavirus crisis ravages businesses and consumers.Monday’s first-quarter GDP data underlined the broadening impact of the outbreak, with exports plunging the most since the devastating March 2011 earthquake as global lockdowns and supply chain disruptions hit shipments of Japanese goods.Analysts warn of an even bleaker picture for the current quarter as consumption crumbled after the government in April...WW…

By , TOKYO (Reuters) - Japan will lift the coronavirus state of emergency in the Tokyo area on Sunday, Prime Minister Yoshihide Suga said, while the capital’s governor warned citizens not to let down their guard.Suga said the availability of hospital beds had improved in Tokyo and its three neighbouring prefectures, where restrictions have remained since early January.“Following these developments, we’ve decided to lift the state of emergency in Tokyo and Saitama, Chiba and Kanagawa prefectures as of March 21,” said Suga.While under pressure to bring COVID-19 under control ahead of the...…By , TOKYO (Reuters) - Japan will lift the coronavirus state of emergency in the Tokyo area on Sunday, Prime Minister Yoshihide Suga said, while the capital’s governor warned citizens not to let down their guard.Suga said the availability of hospital beds had improved in Tokyo and its three neighbouring prefectures, where restrictions have remained since early January.“Following these developments, we’ve decided to lift the state of emergency in Tokyo and Saitama, Chiba and Kanagawa prefectures as of March 21,” said Suga.While under pressure to bring COVID-19 under control ahead of the...WW…

By , TOKYO (Reuters) - Japan’s economy expanded more than expected in the fourth quarter, extending the recovery from its worst postwar recession thanks to a rebound in overseas demand that boosted exports and capital spending.But the recovery slowed from the third quarter’s brisk pace and new state of emergency curbs cloud the outlook, underscoring the challenge policymakers face in preventing the spread of COVID-19 without choking off a fragile recovery, especially in the battered consumer sector.“Conditions are such that Japan will not be able to avoid negative growth in the first...…By , TOKYO (Reuters) - Japan’s economy expanded more than expected in the fourth quarter, extending the recovery from its worst postwar recession thanks to a rebound in overseas demand that boosted exports and capital spending.But the recovery slowed from the third quarter’s brisk pace and new state of emergency curbs cloud the outlook, underscoring the challenge policymakers face in preventing the spread of COVID-19 without choking off a fragile recovery, especially in the battered consumer sector.“Conditions are such that Japan will not be able to avoid negative growth in the first...WW…

By TOKYO (Reuters) - Japanese companies are ramping up the use of artificial intelligence and other advanced technology to reduce waste and cut costs in the pandemic, and looking to score some sustainability points along the way.Disposing of Japan’s more than 6 million tonnes in food waste costs the world’s No.3 economy some 2 trillion yen ($19 billion) a year, government data shows. With the highest food waste per capita in Asia, the Japanese government has enacted a new law to halve such costs from 2000 levels by 2030, pushing companies to find solutions.Convenience store chain Lawson Inc...…By TOKYO (Reuters) - Japanese companies are ramping up the use of artificial intelligence and other advanced technology to reduce waste and cut costs in the pandemic, and looking to score some sustainability points along the way.Disposing of Japan’s more than 6 million tonnes in food waste costs the world’s No.3 economy some 2 trillion yen ($19 billion) a year, government data shows. With the highest food waste per capita in Asia, the Japanese government has enacted a new law to halve such costs from 2000 levels by 2030, pushing companies to find solutions.Convenience store chain Lawson Inc...WW…

By , TOKYO (Reuters) - Japanese Prime Minister Yoshihide Suga said he is considering extending a state of emergency further beyond Tokyo to include Aichi prefecture, home to Toyota Motor Corp, and other central and western areas to curb the spread of COVID-19.“We are gauging the situation right now,” he told the daily Asahi newspaper.A state of emergency gives local authorities the legal basis to place restrictions on residents’ movements and businesses, but under Japanese law the power to declare one rests with the prime minister.Responding to pressure from Tokyo and three neighbouring...…By , TOKYO (Reuters) - Japanese Prime Minister Yoshihide Suga said he is considering extending a state of emergency further beyond Tokyo to include Aichi prefecture, home to Toyota Motor Corp, and other central and western areas to curb the spread of COVID-19.“We are gauging the situation right now,” he told the daily Asahi newspaper.A state of emergency gives local authorities the legal basis to place restrictions on residents’ movements and businesses, but under Japanese law the power to declare one rests with the prime minister.Responding to pressure from Tokyo and three neighbouring...WW…

By , TOKYO (Reuters) - Japan announced a fresh $708 billion economic stimulus package on Tuesday to speed up the recovery from the country’s deep coronavirus-driven slump, while targeting investment in new growth areas such as green and digital innovation.The new package will include about 40 trillion yen ($384.54 billion) in direct fiscal spending and initiatives targeted at reducing carbon emissions and boosting adoption of digital technology.Policymakers globally have unleashed a wall of monetary and fiscal stimulus to prevent a deep and prolonged recession as the coronavirus closed...…By , TOKYO (Reuters) - Japan announced a fresh $708 billion economic stimulus package on Tuesday to speed up the recovery from the country’s deep coronavirus-driven slump, while targeting investment in new growth areas such as green and digital innovation.The new package will include about 40 trillion yen ($384.54 billion) in direct fiscal spending and initiatives targeted at reducing carbon emissions and boosting adoption of digital technology.Policymakers globally have unleashed a wall of monetary and fiscal stimulus to prevent a deep and prolonged recession as the coronavirus closed...WW…

By TOKYO (Reuters) - Two decades after Japan rolled out an ambitious plan to go digital, the COVID-19 crisis has exposed the government’s deeply rooted technological shortcomings as ministries remain stuck in a paper-driven culture that experts say is hurting productivity.While Tokyo has made “digital transformation” its main policy plank this year, the switch may not prove so easy as bureaucrats from different ministries still aren’t able to hold teleconferences together and little of their administrative work can be done online.Analysts say the lack of government digitalisation could...…By TOKYO (Reuters) - Two decades after Japan rolled out an ambitious plan to go digital, the COVID-19 crisis has exposed the government’s deeply rooted technological shortcomings as ministries remain stuck in a paper-driven culture that experts say is hurting productivity.While Tokyo has made “digital transformation” its main policy plank this year, the switch may not prove so easy as bureaucrats from different ministries still aren’t able to hold teleconferences together and little of their administrative work can be done online.Analysts say the lack of government digitalisation could...WW…