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Kyodo news summary -12-(Japan Economic Newswire Via Acquire Media NewsEdge) TOKYO, July 12 -- (Kyodo) _ ---------- Dollar falls to 79.18 yen in London, lowest since March LONDON - The U.S. dollar fell to as low as 79.18 yen at one point Tuesday in London, the lowest level since March 18 when Group of Seven advanced economies jointly intervened in the currency market to stem the yen's surge following a massive earthquake in Japan. Japanese Finance Minister Yoshihiko Noda told reporters in Tokyo the yen's surge was "wild," and he "intends to closely monitor markets." ---------- BOJ cuts growth estimate for disaster-hit economy TOKYO - The Bank of Japan on Tuesday revised down its forecast for the country's economic growth in fiscal 2011, while maintaining its ultra-loose monetary policy in a widely expected move to boost an economy flagging after the March earthquake and tsunami. Following a two-day meeting, the central bank's Policy Board said Japan's gross domestic product would expand by an inflation-adjusted 0.4 percent in the year through next March, slower than the 0.6 percent growth projected in April. For fiscal 2012, the BOJ forecast real GDP growth of 2.9 percent, unchanged from its earlier outlook. ---------- Ruling, opposition camps agree to early 2nd extra budget passage TOKYO - The ruling and opposition camps agreed Tuesday to work for an early enactment of a second extra budget for fiscal 2011 to secure more funds to help people affected by the March 11 earthquake and tsunami in northeastern Japan, lawmakers said. But the Democratic Party of Japan failed to secure full cooperation by the opposition in passing a contentious bill that would allow the government to issue deficit-covering bonds for the year through March 2012, during a meeting of their chief policymakers. ---------- Japan expects Brazil to change bid conditions for high-speed rail project TOKYO - Japan expressed hope Tuesday that Brazil will change bidding terms for a major high-speed rail project in the country as a government auction had drawn no bidders by Monday's deadline. Japanese ministers said the rules set by Brazil for the auction were hard for Japanese companies to accept. Brazil is aiming to build a 510-kilometer rail link between Rio de Janeiro and Sao Paulo at a cost of around 33.1 billion real (about 1.70 trillion yen) in time for the 2014 World Cup soccer tournament and the 2016 Olympic Games. ---------- Life imprisonment sought for man accused of killing British woman CHIBA, Japan - Japanese prosecutors on Tuesday sought life imprisonment for Tatsuya Ichihashi, at his trial for the 2007 killing of British woman Lindsay Hawker. Presiding Judge Masaya Hotta at the Chiba District Court is scheduled to hand down a decision in the case on July 21, after holding discussions with two other professional judges and six citizen judges. ---------- Rakugo storyteller Sanshi to succeed late master's name OSAKA - Senior "Rakugo" comic storyteller Katsura Sanshi will succeed his late master's name and become Katsura Bunshi the Sixth in July next year, entertainment agency Yoshimoto Kogyo Co. said. Sanshi, 67, a well-known television personality heading an association of Rakugo storytellers in the Osaka area in western Japan, released a message pledging further efforts in his profession. ---------- Japan asks Australia, other countries to prevent obstruction of whaling ST. HELIER, Jersey - Japan urged Australia and other relevant countries to take more measures to prevent the Sea Shepherd Conservation Society from obstructing Japan's whaling, during a session of the annual meeting of the International Whaling Commission. In response, Australia, where Sea Shepherd vessels are registered, said it views Japan's so-called research whaling as not legal and would take no additional measures against the antiwhaling group. ---------- Governors to rap state over nuclear crisis in statement AKITA, Japan - Governors from across Japan decided at a biannual meeting begun Tuesday to send an urgent message to the central government, criticizing its "haphazard responses" to the country's worst ever nuclear accident and urging it to thoroughly investigate the cause. "Public distrust in the nuclear energy administration is higher than ever," said the text, referring to the government's poor handling of the emergency at the Fukushima Daiichi power plant triggered by the devastating March 11 earthquake and tsunami. ---------- Japanese shipbuilders develop fuel-efficient carriers for natural gas TOKYO - Mitsubishi Heavy Industries Ltd. and Mitsui Engineering & Shipbuilding Co. said separately Tuesday that they have developed liquefied natural gas carriers that can improve fuel efficiency by up to 25 percent and around 30 percent, respectively, compared with conventional vessels. Mitsubishi Heavy said it plans to build a new steam turbine ship, featuring four LNG cylinder tanks on the deck covered by a huge hood intended to reduce head wind pressure, at its Nagasaki shipyard. ---------- Gov't to set up body to study reactor decommissioning TOKYO - The government asked its nuclear policy commission to set up a body to consider medium- to long-term steps for handling the troubled Fukushima Daiichi nuclear power plant after the current crisis is over, such as how to remove melted fuel and decommission the crippled reactors, a Cabinet minister said Tuesday. The remarks came as plant operator Tokyo Electric Power Co. is expected to realize the stable cooling of troubled reactors later this month and move toward the next goal of stabilizing them by so-called cold shutdown, although the plant's key water treatment system again saw a leakage problem Tuesday. ---------- Toshiba boosts chip production for smartphones at new plant TOKYO - Toshiba Corp. said Tuesday it has started mass production of flash memory chips at its newly built factory in Yokkaichi, Mie Prefecture, to boost output capacity amid growing demand for devices such as smartphones. The major Japanese electronics company, which has the world's second-largest share in the NAND flash memory market, will start shipping products from August with the aim of overtaking market leader Samsung Electronics Co. of South Korea through the introduction of cutting-edge miniaturization technology. ---------- Hiroshima survivor, famed writer encourages Fukushima children FUKUSHIMA, Japan - A writer of children's books who survived the 1945 U.S. atomic bombing of Hiroshima encouraged children on Tuesday in Fukushima Prefecture living in fear of exposure to radiation from a nearby crippled nuclear power plant. "I encountered the atomic bombing when I was 3 years old. But I am still living and healthy," Masamoto Nasu, 69, told children in a speech at Nakahata Elementary School in the town of Yabuki, Fukushima Prefecture. ---------- U.S. trade deficit up 15.1% to $50.23 bil. in May WASHINGTON - The U.S. deficit in global trade of goods and services widened 15.1 percent in May from the previous month to $50.23 billion, as imports increased on higher oil prices, the Commerce Department said Tuesday. (c) 2011 Kyodo News International, Inc. |