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ASIA PACIFIC - business / finance News

  • Asia-Pacific - Tax row hits Japan economy deal
    Updated - 28/8/2008 - bbc.co.uk.
  • Asia-Pacific - Canada extends control over oil-rich Arctic region
    Updated - 28/8/2008 - IANS.
  • Asia-Pacific - ASEAN, India conclude free trade deal
    Updated - 28/8/2008 - IANS.
  • Asia-Pacific -Toyota cuts car sales forecasts
    Updated - 28/8/2008 - bbc.co.uk.
  • Asia-Pacific - Profits rise 51% at China Mobile
    Updated - 27/8/2008 - bbc.co.uk.
  • Asia-Pacific - 42 Tamil Nadu fishermen held captive in Andhra Pradesh released
    Updated - 27/8/2008 - IANS.
  • Asia-Pacific - Government denies charging Chinese firm with fraud
    Updated - 27/8/2008 - IANS.
  • Asia-Pacific - Write-down hits Foster’s profits
    Updated - 27/8/2008 - bbc.co.uk.
  • Asia- Pacific - N Korea stops nuclear disabling
    Updated - 26/8/2008 - bbc.co.uk.
  • Asia - Pacific - China deports US Tibet protesters
    Updated - 26/8/2008 - IANS.
  • Asia - Pacific - N Korea tops Seoul summit agenda
    Updated - 26/8/2008 - bbc.co.uk.
  • Asia - Pacific - Asian airlines go lightweight to offset high fuel bills
    Updated - 26/8/2008 - IANS.
  • Asia-Pacific - India, China are new faces of Asian art in the globe
    Updated - 25/8/2008 - IANS.
  • Asia-Pacific - Singapore Airlines to promote Incredible India
    Updated - 25/8/2008 - IANS.
  • Asia-Pacific - Gold demand picks up as prices stabilise
    Updated - 25/8/2008 - IANS.
  • Asia-Pacific -BHP eyes 10% yearly output growth
    Updated - 25/8/2008 - bbc.co.uk.
  • Asia-Pacific - Japan, Asian Development Bank pledge $1 mn aid to Bihar
    Updated - 22/8/2008 - IANS.
  • Asia-Pacific - Apple’s third generation iPhone launches in India
    Updated - 22/8/2008 - IANS.
  • Asia-Pacific - China bank sees top 2008 profits
    Updated - 22/8/2008 - bbc.co.uk.
  • Asia-Pacific - Tamil Nadu’s numbers game - 13 ministers, 62 major central projects
    Updated - 21/8/2008 - IANS.
  • Asia-Pacific - Young Indian artists close in on masters at Christie’s sale
    Updated - 21/8/2008 - IANS.
  • Asia-Pacific - Apple admits iPod Nano overheat
    Updated - 21/8/2008 - bbc.co.uk.
  • Asia - Pacific - China shares up from 20-month low
    Updated - 20/8/2008 - bbc.co.uk.
  • Asia - Pacific - New faces for Indonesia’s parties
    Updated - 20/8/2008 - bbc.co.uk.
  • Asia - Pacific - Troops deploy in Philippine south
    Updated - 20/8/2008 - bbc.co.uk.
  • Asia - Pacific - Jordan, China sign nuclear cooperation pact
    Updated - 20/8/2008 - IANS.
  • Asia-Pacific - Growth concerns dent China shares
    Updated - 19/8/2008 - bbc.co.uk.
  • Asia-Pacific - Adverse US impact on Indian outsourcing not for long
    Updated - 19/8/2008 - IANS.
  • Asia-Pacific - IIT Delhi takes up distance learning to help professionals
    Updated - 18/8/2008 - IANS.
  • Asia-Pacific - Consim Info seeks partner for its job portal
    Updated - 18/8/2008 - IANS.
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Asia-Pacific - Tax row hits Japan economy deal

Updated - 28/8/2008 - bbc.co.uk.

 

Japanese plans to introduce an economic package to help people and firms cope with higher prices are being hampered by a political row over income tax.

Junior government coalition partner the New Komeito party is in disagreement with the main Liberal Democratic Party.

While New Komeito leaders are pushing for temporary tax cuts to benefit low earners, the Liberal Democratic Party is generally opposed to the idea.

The Japanese economy contracted from April to June as recession fears rise.

If the economic output also falls between July and September, then Japan will formally be in recession.

’Grave resolution’

New Komeito policy chief Natsuo Yamaguchi has told economics minister Kaoru Yosano that the tax cuts are vital.

"We will seek to reach an agreement on this with grave resolution," said Mr Yamaguchi.

His comments came a day after Liberal Democratic Party policy chief Kosuke Hori said it would be difficult to afford the proposed tax cuts, which could cost as much as 3 trillion yen ($27bn; $14.7bn).

The main aim of the proposed economics package is to provide financial relief to households and companies struggling with high energy and food bills, although no exact details have yet been revealed.

The apparent dispute between the New Komeito party and the Liberal Democratic Party comes against a backdrop of possible elections.

While no election for the lower house of Japan’s parliament is needed until September 2009, New Komeito leader Akihiro Ota said last week that a snap election could come at any time.

 

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