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:

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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 

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` Tokyo Court Rules ` Mt Gox ‘ is Unable Repay their Creditors so an Administrator Should Sell all Assets ‘

#AceFinanceNews – TOKYO – April 16 – The Tokyo District Court decided Wednesday that Mt. Gox – the trading platform and storehouse for the bitcoin virtual currency – would not be able to resurrect itself under a business rehabilitation process submitted in February.

Many of its creditors are unlikely to get their money back and an administrator will try to sell the company’s assets.

The CEO of Mt. Gox, Mark Karpeles, said in February that 850,000 bitcoins, worth several million dollars, were unaccounted for and blamed a weakness in the exchange systems. Mt. Gox then found 200,000 bitcoins, stating that only 650,000 had been lost.

The exact amount that is still missing is under investigation, with Mt. Gox suggesting they may have been stolen.

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#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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` 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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