Japan formally requested the World Organization for Animal health, OIE, to declare the country free of foot and mouth disease do it can resume beef exports. Japan suffered an outbreak of FMD which forced the termination of 289.000 livestock.
Japan's prime minister said that authorities would keep intervening to curb the country’s currency strength as sagging manufacturing confidence underscored the threat the currency poses to the fragile economic recovery.
This week’s news that China had overtaken Japan to become the world's second-largest economy in the second quarter of this year made headlines around the world. The economic milestone was seen as a telling confirmation of the shifting balance of economic power in Asia, and as a culmination of China's stunning three-decade economic resurgence.
Japan’s economy expanded at the slowest pace in three quarters. GDP rose an annualized 0.4% in the three months ended June 30 from a revised 4.4% expansion in the first quarter, the Cabinet Office said in Tokyo.
Japan’s food rice stockpiles may reach the highest level in eight years at the end of June 2011, leading to a price drop and planting curbs by growers next year. Private and government inventories are forecast to climb 2.5% to 3.24 million metric tons from 3.16 million tons a year earlier, the Ministry of Agriculture, Forestry and Fisheries said in a report Wednesday.
China has overtaken Japan to become the world's second-largest economy behind the United States, the country's chief currency regulator and vice-governor of the People's Bank of China (PBOC) said this week.
Usinas Siderurgicas de Minas Gerais SA, Brazil’s second-largest steelmaker, agreed to sell a stake in its mining and railroad businesses to Sumitomo Corp. for 1.93 billion US dollars before a possible share offering in the unit.
Attempts to agree a compromise between whaling nations and their opponents at the International Whaling Commission's (IWC) annual meeting in Morocco have failed. After two days of private discussions, delegates reported they had been unable to reach agreement on major issues.
Global stock markets closed sharply Friday amid investor fears that Greece's debt crisis could halt the global economic recovery.
Australia's central bank has raised interest rates for the sixth time in eight months as the country's economy continues to recover. The target interest rate is now at 4.5%—up from 3% in October last year.