Business | Mar 28

Japan to Extend Gasoline Subsidy

TOKYO, Mar 28 (News On Japan) - In response to the continued surge in energy prices due to the weakening yen and the rise in consumer prices, the Japanese government has decided to extend the subsidy for gasoline and other fuels beyond its April deadline.

According to government officials, the subsidy aimed at curbing the prices of fuel oil such as gasoline and kerosene will be extended past its current April deadline and will continue into May and beyond. The extension is expected to last for several months, with considerations also being made to maintain the subsidy rate without reductions.

The decision comes in light of inflation, the depreciating yen, and the rise in crude oil prices due to instability in the Middle East.

Prime Minister Kishida is expected to announce this in a press conference on Thursday evening.

The subsidy to oil wholesalers, which started in 2022, has been continually extended despite questions about its effectiveness.

Source: ANN

MORE Business NEWS

Tasaki Marks 70th Anniversary with Glamorous Pearl Jewelry Exhibition

Tasaki, the renowned pearl jewelry brand, celebrated its 70th anniversary by hosting the "TASAKI 70th Anniversary Exhibition: FLOATING SHELL." The event kicked off on April 25 with a glamorous opening ceremony attended by a slew of celebrities.

Bank of Japan Stays Course on Monetary Policy

The Bank of Japan says it will leave its monetary policy unchanged. The announcement comes at the end of the BOJ's two-day meeting on Friday. (NHK)

Honda Plans New EV Factory in Canada

Honda has unveiled plans to construct a factory dedicated to electric vehicles (EVs) in Ontario, Canada, as part of its broader strategy to fully transition to EVs by 2040.

POPULAR NEWS

Japanese Yen Slides to 34-Year Low, Hits 158 Against the Dollar

In a significant movement in the foreign exchange markets, the Japanese yen has once again depreciated, crossing the 158 mark against the U.S. dollar. This level marks the weakest the yen has been in approximately 34 years, signaling ongoing economic pressures and potentially major shifts in Japan's financial landscape.

Brave Seven-Year-Old Rescues Kidnapped Four-Year-Old Sister

In a remarkable display of bravery and quick thinking, a seven-year-old girl in Kitakyushu successfully rescued her four-year-old sister who had been kidnapped. The incident, which unfolded on April 13th, began when the siblings were approached by a stranger while playing on the street.

Unpacking Japan's Lavish School Lunch

Japan's Cabinet Office's Government Public Relations Office recently stirred controversy with a social media post showcasing an overly lavish depiction of school lunches, leading to a public outcry over the authenticity of the meals presented.

Gotanda JP Building Opens Doors with Hoshino Resort on High Floors

Tokyo's Shinagawa district welcomes a new landmark with the grand opening of the Gotanda JP Building on Friday, April 26, featuring a dog-friendly hotel by Hoshino Resort, co-working spaces, and a vibrant culinary scene.

BBC Accused of Distorting Smile-Up President's Comments

Japanese company Smile-Up, the former talent agency known as Johnny & Associates, says it has sent a letter of protest to Britain's public broadcaster BBC over its program on sexual abuse by its late founder. (NHK)

FOLLOW US