Saudi king seeks help on diversifying economy
Japan Today -- Mar 13
King Salman and hundreds of business leaders from Saudi Arabia began talks in Japan Monday mainly expected to focus on economic ties.

The visit is the first by a Saudi king in 46 years, though Salman visited more recently as crown prince.

Saudi Arabia is one of Japan's biggest suppliers of crude oil, accounting for about a third of its total imports of oil from the Middle East.

The kingdom is striving to diversify its economy away from its heavy reliance on oil exports, and Salman is on a month-long tour of Asia to advance his kingdom's economic and business interests.

Japan's Chief Cabinet Secretary Yoshihide Suga told reporters Monday that Japan is willing to provide support for the economic power in the Middle East.

"We will discuss growth strategy, including our 'Saudi Vision' project," he said, referring to Japanese collaboration with Vision 2030, a roadmap adopted by the kingdom last year for its development and economic objectives

He did not confirm reports that the countries would agree to set up a special economic zone in Saudi Arabia.

Salman met with Japanese Foreign Minister Fumio Kishida and was to meet Prime Minister Shinzo Abe later Monday.

Reports say Japan plans to urge that Saudi Aramco, the state-run oil company that is being partially privatized, seek a share listing on the Tokyo Stock Exchange.

News source: Japan Today
Mar 24
The Japanese yen's recent rise against the dollar has defied conventional market wisdom, but a stronger currency may actually support Japan as it confronts the Trump administration on matters of trade and foreign exchange. (Reuters)
Mar 23
Japan's 14 major electricity and gas companies are expected to raise rates in May for the fourth straight month, as the utilities pass on rising costs of imported fuels to consumers. (Nikkei)
Mar 22
The population in Tokyo's waterfront areas has ballooned in recent years and is only expected to keep climbing after the 2020 Olympics, ratcheting up pressure on the local government to expand its already crowded public transit system. (Nikkei)
Mar 22
Tokyo and Osaka are again among the 10 most expensive cities in the world due to the stronger yen, according to a new global survey. (Japan Today)
Mar 22
Residential land prices in Japan have risen for the first time in 9 years. Demand was firm thanks to low mortgage rates on the back of the central bank's negative interest rate policy. Also helping out home buyers was a tax break. (NHK)
Mar 21
Japanese Prime Minister Shinzo Abe and German Chancellor Angela Merkel agreed Monday that Japan and Europe should work together with the United States to promote free trade. (Kyodo)
Mar 20
Japanese Prime Minister Shinzo Abe called on Sunday for Germany and Japan to work together to champion free trade. (
Mar 16
Many major Japanese companies, including automakers and electronics makers, on Wednesday proposed raising their pay scales for the fourth straight year, but the hikes will be the smallest in the four years. (Jiji)
Mar 14
Japanese business and labor leaders are close to a final agreement on limiting worker's overtime hours. (NHK)
Mar 13
King Salman and hundreds of business leaders from Saudi Arabia began talks in Japan Monday mainly expected to focus on economic ties. (Japan Today)