Business
Japan Records $78bn Trade Deficit
Japan’s annual trade deficit rose to a record $78 billion in
2012, according to official data from the Ministry of Finance as reported by
CNN.
Japan, a nation whose export-driven wealth has traditionally
been built on trade surpluses, had a second straight year of trade deficits
thanks to a persistently high yen, trouble with trading partner China and
weakening demand in the eurozone.
Exports fell 5.8% in December 2012 compared to a year
earlier due in large part to a strong yen which makes Japanese exports more
expensive overseas.
A protracted territorial dispute with China in the South
China Sea has also seen Beijing slow its imports of Japanese goods. Japan’s
exports to the country plunged 10.8% in December year-on-year.
Imports grew 1.9% over the same period, with mineral fuels
including oil accounting for 34.1% — and the majority — of Japan’s total
imports for the year.
Late last year, then-prime ministerial candidate Shinzo Abe
campaigned on a mission to turn his country’s economy around. His government
unveiled $117 billion in new stimulus earlier this month.
Beating deflation and curbing the yen’s appreciation is
crucially important,” Abe said on January 10 and that a “daring monetary policy
is essential.”
Earlier this week, the Bank of Japan signed on to Abe’s plan
to raise inflation to 2%, with the hope of pulling the world’s third largest
economy out of a two-decade slump of deflation.
Since mid-November, Japan’s currency has weakened more than
9% and to a two-and-a-half year low — boding well for Japan’s exporters.
Abe, who served as Japan’s premier from 2006 to 2007, was
sworn back into the office on December 26.
Business
FEC Approves Concession Of Port Harcourt lnt’l Airport
Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
Business
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