JAPAN: ‘ Cost of Dying Puts One Man Out of Business Making Tombstone’s ‘

#AceFinanceNews – JAPAN (Tokyo) – September 12 – Jianxing An can see he is in a dying business.

 An Jianxing, a 50 year old gravestone business owner and designer, closes the gate of his company showroom in Ibaraki prefecture, north of Tokyo September 10, 2014.  CREDIT: REUTERS/YUYA SHINO

An Jianxing, a 50 year old gravestone business owner and designer, closes the gate of his company showroom in Ibaraki prefecture, north of Tokyo September 10, 2014.
CREDIT: REUTERS/YUYA SHINO

The gravestone designer, who takes pride in works featuring musical instruments and heavenly gates, says years of shrinking

sales are driving him to close up shop in Japan and move back to his native China.

“It hasn’t been easy running a Japanese company these 18 years and I want to keep it going,” An said at his spartan office in suburban Tokyo, where the computers had already been packed up. “But the Japanese market is in decline and I’ve decided to shut down my business here and return home.”

Japan’s aging society should be a boon for Chinese craftsmen, such as An, who dominate the tombstone trade. The number of deaths each year is expected to increase by 30 percent over the next quarter century.

But more Japanese are choosing to have their ashes scattered at sea or planted under a tree, as these options are cheaper than a gravestone, which is usually the last big splurge for many people at a time of intense caution over the economy.

About 40 percent of Japanese already have a spot waiting in an ancestral grave, a survey by a tombstone industry group shows, limiting the scope for potential sales.

At the same time, a fifth or more of Japanese would consider alternative, natural burials. Price is one concern.

Source:

#AFN2014


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` Japan Suspends Development Aid to Vietnam over Bribery Case ‘

#AceFinanceNews – TOKYO – June 04  – Japan has temporarily suspended official development aid to Vietnam over a bribery case, officials said Tuesday. Fresh yen loans and funding for an ongoing urban railway project have been frozen.

The decision was taken after six Vietnamese railway officials were detained over allegations of corrupt payments, AFP reported, citing a statement by Japan’s Foreign Ministry.

In March, Japanese media reported that the national tax agency had flagged up 100 million yen (US$100,000) worth of payments that could not be properly accounted for.

Japan Transportation Consultants Inc. is reportedly suspected of having paid the money to officials in Vietnam, Uzbekistan and Indonesia.

(Japan Times) – Said the message was conveyed during a bilateral progress meeting, after six Vietnamese railway officials were detained in May over a contract awarded to Tokyo-based Japan Transportation Consultants Inc.

The Japanese side said it would resume the aid when Hanoi investigates whether JTC or state-owned Vietnam Railways Corp. broke the law, and demanded that Vietnam take steps to prevent a recurrence, the embassy said.

It added that the two sides would meet again late this month, when the Japanese side will consider resuming assistance after studying the outcome of Vietnam’s investigation and any measures it is taking.

JTC said in April that an independent panel found it had paid ¥160 million in kickbacks to officials involved in projects in Vietnam, Indonesia, Uzbekistan between 2009 and 2014. Its payments to secure an aid project in Vietnam were estimated at ¥66 million.

Japan Times – AFP 

#AFN2014 

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#hanoi, #indonesia, #japan, #media-of-japan, #tokyo, #uzbekistan, #vietnam, #vietnam-railways

` Takeda Pharmaceutical says it will contest the $6 Billion Punitive Damages Claim Imposed by Jury '

#AceFinanceNews – UNITED STATES – APRIL 08 – (Reuters) – Takeda Pharmaceutical Co Ltd said it would contest $6 billion in punitive damages imposed by a jury in the United States in a case that accused Japan’s largest drug-maker of concealing cancer risks associated with its Actos Diabetes Drug.

Eli Lilly and Co, Takeda’s co-defendant in the case, was ordered to pay $3 billion in punitive damages by the jury in Louisiana on Monday. It also awarded $1.475 million in compensatory damages.

Legal experts said it was unlikely that such a large award would stand after challenges in court by both companies. Eli Lilly and Takeda have said they would dispute the verdict, which could include appeals to a higher court or filing motions asking the trial judge to set aside or reduce the verdict.

“Although there’s no mathematical bright line” to determine how high is too high when it comes to punitive damage awards, federal appeals courts generally scrutinize the ratio of punitive to compensatory damages, preferring those that fall into the single-digit range, according to Professor Catherine Sharkey, a tort law expert at New York University School of Law.

March 06 2012 – Regulators with European Medicines Agency – Break silence today on Safety ……..

Regulators with the European Medicines Agency broke their silence today on the safety of the popular diabetes drug Actos. Although they have decided to keep the drug on the market, warning labels will have to be added about the risk of bladder cancer from long term use.

The move comes more than a month after France and Germany banned all new prescriptions of Actos and the U.S. FDA ordered that warning labels be changed to address the risks of bladder cancer.

Studies into the safety of the drug have been ongoing on both continents for years after initial clinical trials showed lab rats had a slightly increased occurrence of bladder cancer at higher doses.

The most recent data from a French study of more than 150,000 users found that taking higher doses of Actos for more than a year can actually increase the risk of bladder cancer by as much as 40%! http://actosbladdercancerlawyers.net/actos-cancer-risk/actos-cancer-risks/

Read More: http://www.reuters.com/article/2014/04/08/us-takeda-pharm-actos-verdict-idUSBREA3708F20140408

#afn2014, #actos-diabetes-drug, #bladder, #cancer, #european-medicines-agency, #federal-drug-administrationfda, #france, #germany, #japan, #new-york, #takeda-pharmaceutical-company-ltd, #tort-law, #united-states, #us

Russians Energy Minster says ` Domestic Gas Prices in `Europe ' Could Rise by 50 Percent if it Cut's Supplies from Russia '

#AceFinanceNews – EUROPE – April 04 – (RT) – “Moving away from pipeline transportation of natural gas, construction of terminals and deliveries of liquefied natural gas will lead to an increase in gas prices in Europe from the current $380 per 1,000 cubic metres to at least $550,” Novak said in an interview to the Russia 24 TV Channel.

“And the question arises: are the economies of European countries ready to supply and consume gas at such a price?” the Minister asked.

The US has insisted that Europe needs to urgently cut its dependence on Russian gas, with the US Secretary of State John Kerry saying Moscow should no’t use energy exports as a political weapon.

“It really boils down to this: no nation should use energy to stymie a people’s aspirations,” Kerry said in Brussels on Thursday, the same day Russia’s Gazprom increased the price to Ukraine another $100 per 1,000 cubic metres.

On Wednesday the US and EU reaffirmed their plan to move away from Russian gas, stressing that developments in Ukraine “have brought energy security concerns to the fore” .

Meanwhile, Russian energy companies have started to feel the pulse in markets outside Europe, mostly focusing on Asia.

Gazprom talked to Kuwait and Egypt about increasing LNG supplies and hopes to sign a long-term supply deal with China next month.

Also, the president of Russia’s oil major Rosneft has toured Japan, South Korea, Vietnam and India.

RT – INS – IT

#AFN2014

#ans2014, #asia, #china, #egypt, #eu, #europe, #european, #gazprom, #india, #japan, #john-kerry, #kuwait, #moscow, #rosneft, #russia-24-tv-channel, #russias, #russian, #south-korea, #ukraine, #vietnam

` South Korea Commences boosting its `Air Defences ‘ with purchase of a $1.3 Billion Refuelling Tanker ‘

#AceFinanceNews – SEOUL – March 31 – South Korea on Monday kicked off the process to buy four in-flight refuelling tanker aircraft, Reuters said.

The deal is seen to be worth around $1.31 billion, with plane-makers Boeing and Airbus expected to compete, according to sources.

The purchase will be part of Seoul’s attempts to bolster its air defence in the face of rising tension over the maritime interests of Japan and China, as well as against North Korea.

#AFN2014

#airbus, #boeing, #china, #japan, #north-korea, #seoul, #south-korea

` South Korea boosts its Air Defences with 40 `Radar Avoiding F-35 fighter Jets ‘ plus their Support Systems ‘

#AceFinanceNews – SOUTH KOREA – 24 March – South Korea expects to pay around 7.34 trillion won (US$6.79 billion) for 40 Lockheed Martin F-35 fighter jets, Reuters said, citing its sources.

The budget to buy the radar-evading F-35s plus support systems was reportedly announced to a committee overseeing military purchases on Monday.

As Seoul boosts its air defences amid simmering tensions in the region, it also confirmed plans to buy four Northrop Grumman Global Hawk unmanned aircraft to monitor neighbouring North Korea.

The deals come as ties between Japan, China and South Korea have chilled over the past year.

#AFN2014

#china, #japan, #reuters, #seoul, #south-korea

` Japan is considering ` Imposing Sanctions’ on ` Russia ‘ over situation in Crimea ‘

#AceFinanceNews The government of Japan is considering imposing sanctions on Russia over the situation in Crimea, Nikkei reported, citing officials.

The sanctions could be similar to those mulled by the US and European countries, it said. Seiji Maehara, former president of the Democratic Party of Japan, and a senior opposition lawmaker urged Prime Minister Shinzo Abe’s government to impose sanctions against Russia over the Ukraine crisis.

#AFN2014

#crimea, #democratic-party-of-japan, #japan, #nikkei, #prime-minister-shinzo-abes, #russia, #ukraine, #us

` Pollution in China gives Employees a pay rise from Panasonic amid concerns about sales tax ‘

#AceFinanceNews Japanese electronics giant Panasonic said Thursday it would give employees sent to China a wage premium to compensate for the country’s hazardous air pollution, in a possible first for an international company according to AFP

The move was part of a wider deal reached in Japan’s annual labour talks which saw major firms, including Panasonic and Toyota, agree to boost workers’ salaries for the first time in years, amid concerns about an economic slowdown after a sales tax rise next month.

#AFN2014

#afp, #china, #japan, #japanese, #panasonic, #toyota

#AceFinanceNews – Just Wants to say `Thank You’ to all our `Readers’ of our News’

Just seems only a short while ago l started adding a new theme and new posts of interest in the finance market, and here we are at 500 posts and counting.

With out you my readers and friends l could not have achieved this many post.

Anyway thank you from a very humble editor, writer and friend and thanks for the 500! 🙂 WP Post Milestone of 500-2x

 

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#bitcoin, #constant-bitrate, #dolby-digital, #japan, #ministry-of-finance-russia, #sampling-rate, #tokyo, #united-states

` Mt Gox the largest ` Bitcoin Exchange ‘ files for ` Bankruptcy ‘ amid rumours of Hacking ‘

#AceFinanceNews says that `Tokyo‘s Mt Gox Bitcoin Exchange has filed for `Bankruptcy‘ amid missing currency‘.

Published time: March 02, 2014 11:54
 
Reuters/Jim Urquhart Reuters/Jim Urquhart
Mt Gox, once the world’s largest bitcoin exchange, filed for bankruptcy in a Tokyo district court on Friday, the company’s lawyer citing ‘outstanding debts of $63.2 million, after mysteriously going offline on Monday.

Investors may have lost all of their virtual coins, as the exchange’s computer system was exposed to fraudulent transactions and technical failures.

A leaked internal Mt Gox “crisis strategy” document suggesting that the exchange site had been hacked and hundreds of millions of dollars’ worth of the cryptocurrency stolen began to circulate online.

Technical glitches in February forced the trading platform to halt deposits, causing the already volatile crypto-currency to plunge 20 percent. On Friday it was listed at $565.07 on Winkdex, a New York-based bitcoin value index.

Mt Gox once claimed to host nearly 80 percent of all bitcoin transactions worldwide, and was the primary source cited for bitcoin prices.

Mark Karpeles (2nd L), chief executive of Mt. Gox, attends a news conference at the Tokyo District Court in Tokyo February 28, 2014. (Reuters/Yuya Shino)Mark Karpeles (2nd L), chief executive of Mt. Gox, attends a news conference at the Tokyo District Court in Tokyo February 28, 2014. (Reuters/Yuya Shino)

After it the site crashed on Monday, the value of bitcoin fell to $440, a 3-month low after the currency reached highs above $1000 at the end of November.

On Monday, Mark Karpeles, the chief executive of the now defunct exchange, resigned Mt Gox from the board of the Bitcoin Foundation ‘effective immediately’.

Karpeles remained mum after the site went offline, but on Friday told a press conference that Mt Gox wants to file a criminal probe into the hacking.

Screenshot from www.mtgox.com

Screenshot from www.mtgox.com

 Bit-coin, an alternative to traditional currencies, isn’t backed by any official government or central bank, which makes recovering losses difficult.

Central banks across the globe have begun to crackdown on the cryptocurrency, instructing financial institutions not to accept bit-coins because they have no legal status or monetary-backing, like state-backed currencies.

Courtesy of: RT   
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