Month: October 2019

Japan’s national sales tax was raised to 10% from 8% on Tuesday, amid concerns that the long-delayed move could derail the fragile growth path of the world’s third largest economy. Officials said ample measures were taken to cushion the impact of the hike after previous tax increases – a 2-point increase to 5% in 1997 and another to 8% in 2014 – brought on recessions. Prime Minister Shinzo Abe postponed this hike twice but said it was unavoidable given rising costs for elder care and a growing national debt as the population ages and shrinks. After decades of fiscal deficits …

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Thousands of Vietnam’s ethnic Cham people met under rainy late September skies for their annual “Kate” festival that, according to the multi-faith community’s calendar, marks the end of one harvest season and the beginning of another. The Cham are descendants of a powerful ancient kingdom that once spanned large parts of central and southern Vietnam a millennium ago. They are a traditionally matriarchal society, which worships a female goddess and expects the youngest daughter to inherit family assets. Vietnam’s ethnic Cham religious leaders take part in a procession to the Po Klong Garai temple during the ‘Kate’ festival which marks …

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The U.S. Secretary of Interior has extended the tenure of the Trump administration’s top steward of public lands, rebuffing Democrats’ calls for his termination. Interior Secretary David Bernhardt on Monday extended William Perry Pendley’s role as Bureau of Land Management Acting Director to Jan. 3. Pendley has been in the post since July. Senate Democrats, including presidential candidates Bernie Sanders and Kamala Harris, had called for Pendley’s ouster over his longstanding support for selling public lands. He previously worked as a property rights attorney with clients including mining, energy and agriculture interests. Earlier this month Pendley recused himself from work …

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China warned on Monday of instability in international markets from any “decoupling” of China and the United States, after sources said the Trump administration was considering delisting Chinese companies from U.S. stock exchanges. The move would be part of a broader effort to limit U.S. investment in Chinese companies, two sources briefed on the matter told Reuters last week, in what would be a radical escalation of U.S.-China trade tensions. The news had earlier been reported by Bloomberg. A third source said the delisting idea was motivated by growing security concerns within the administration of U.S. President Donald Trump over …

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South Korea showcased newly acquired F-35 stealth fighter jets to mark Armed Forces Day on Tuesday as President Moon Jae-in tries to allay concerns that his policy of engagement with North Korea may be weakening the South’s commitment to defense. North Korea has criticized the South’s weapons procurement and its joint military drills with the U.S. military as undisguised preparations for war that were forcing it to develop new short-range missiles. Moon has thrown his support behind dialogue to end the North’s nuclear and ballistic missile programs, urging that working-level negotiations between the North and the United States be held …

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