Devices modified by Israel at production, Lebanon security sources say
world20 hours ago
Japanese Prime Minister Fumio Kishida will step down as ruling party leader in September, media reported on Wednesday, ending a three-year term marked by rising prices and marred by political scandals.
Kishida, who saw his public support erode, will not seek re-election in the Liberal Democratic Party (LDP) leader, Japanese media including public broadcaster NHK reported citing senior administration staff.
An LDP spokesperson declined to comment.
Kishida's decision to quit will trigger a contest to replace him as party boss, and by extension as the leader of the world's fourth-biggest economy.
The successor the LDP chooses could face increases in living costs, escalating geopolitical tensions, and the potential return of Donald Trump as U.S. president next year.
As the country's eighth-longest serving post-war leader, Kishida led Japan out of the COVID pandemic with massive stimulus spending, but later appointed Kazuo Ueda, an academic tasked with ending his predecessor’s radical monetary stimulus, to head the Bank of Japan (BOJ).
The BOJ in July unexpectedly raised interest rates, contributing to stock market instability and sending the yen sharply lower.
If the "reporting is accurate, we should expect tighter policy or neutral but slightly tighter fiscal, monetary conditions depending on the candidate", said Shoki Omori, chief Japan desk strategist, Mizuho Securities, Tokyo.
"In short, risk-assets, particularly equities, will likely be hit the most," he added.
In another break from the past, Kishida also eschewed corporate profit-driven trickle-down economics in favour of policies aimed at boosting household incomes, including wage hikes and promoting share ownership.
Devices modified by Israel at production, Lebanon security sources say
world20 hours ago
Top US diplomat is visiting Egypt hoping to advance efforts to achieve a ceasefire in Gaza and strengthen ties with Cairo
world20 hours ago
A UNRWA official said the Israeli government is also 'increasingly phasing out representation from those engaged in reporting on the atrocities'
world1 day ago
Of the 2.8 million private cars registered in the Scandinavian country, 754,303 are all-electric, compared to 753,905 that run on petrol
world1 day ago
Months of behind-the-scenes negotiations mediated by Qatar, Egypt and the United States have failed to halt the fighting between Hamas and Israel, apart from a one-week truce beginning in late November
world1 day ago
Modi's government has frequently deployed bulldozers and earthmovers to flatten property owned by those facing trial, saying it targets illegal construction and is a firm response to criminal activity
world1 day ago
If approved, Oxford Street would join other major shopping hubs such as Times Square in New York and La Rambla in Barcelona that have gone fully traffic-free
world1 day ago