Japan's prime minister ordered a new round of stimulus to try to revive economic growth but offered so few details about the size and contents of the package that it is unlikely to ease worries about the faltering economy.
Having promised a national election "soon", Yoshihiko Noda is under pressure to lift the world's third-biggest economy after growth stalled in recent months, raising concerns it could slide into a recession.
Noda asked his cabinet to compile the package by next month, but the government has not made a decision on how much it will spend, Finance Minister Koriki Jojima said.
The government lacks the strength to push through a new spending bill in the divided parliament, so the stimulus will not involve new bond issuance. It could tap budget reserves to fund the new plan as that does not require opposition votes.
Japanese media reported earlier on Wednesday that the new measures will include spending on renewable energy, healthcare and agriculture and will total about 1 trillion yen ($12.7 billion), which economists said is too small to have a lasting impact.
This Monday, members of the seminal metal band X Japan were in Odaiba rubbing shoulders with the likes of Brad Pitt, Lady Gaga and AKB48′s Yuko Oshima. The catch? They were all made out of wax. (Japan Times )
The parents of a nightclub worker killed in an arson fire three years ago filed a suit in the Nagoya District Court on Monday seeking damages against top members of the Yamaguchi-gumi organized crime group. (Tokyo Reporter )
Kyodo News said Monday that it has dismissed Satoshi Kondo, 51, deputy chief of its general administration bureau and former personnel affairs division chief, for meeting individually with a female student searching for a job and doing an inappropriate act.
(Jiji Press )