Global economic growth is expected to accelerate 2.7 percent this year, up from an estimated 2.3 percent last year, but uncertainty over the policies of U.S. President-elect Donald Trump cloud the outlook, the World Bank said Tuesday.
The Washington-based institution forecast Japan's economy will expand 0.9 percent in 2017, down slightly from an estimated 1.0 percent in 2016, according to the semiannual Global Economic Prospects report.
Referring to Trump's campaign promises, the report said, "Fiscal stimulus in major economies -- particularly in the United States -- could generate faster domestic and global growth than projected, although rising trade protection could have adverse effects."
The United States, Japan and other countries surrounding North Korea are on high alert over the nation's provocative actions, including the possibility it would conduct its sixth nuclear test, as Tuesday marked the 85th anniversary of the foundation of its Korean People's Army. (the-japan-news.com)
Japan's Prime Minister Shinzo Abe has decided to appoint Masayoshi Yoshino, a former State Minister of the Environment, as the new minister in charge of rebuilding areas hit by the 2011 earthquake and tsunami. (NHK)
Canadian pop singer Justin Bieber, 23, will perform at Tokyo's Ajinomoto Stadium on Sept 23 and 24. It will be Bieber's fourth concert tour in Japan and his first visit since last August. (Japan Today)
Despite the initial excitement among major financial institutions, the Bank of Japan's push for exchange-traded funds tracking companies that actively raise employee pay or invest in new equipment has run aground. (Nikkei)
Japan's growing labor shortage threatens the nation's ubiquitous convenience stores, whose business model relies on an army of part-timers packing bento lunch boxes, manning cash registers and delivering goods 24/7. (Japan Today)
The labor ministry referred advertising agency Dentsu Inc. and three officials from its offices in Nagoya, Osaka and Kyoto to prosecutors on Tuesday on suspicion of violating the Labor Standards Law by making employees work overtime beyond legal limits. (Japan Times)