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World

Japanese government admits to overstating some government economic data for years

The Japanese government overstated construction orders data received from builders for years, Prime Minister Fumio Kishida said on Wednesday, an admission that could dent credibility of official statistics widely used by investors and economists. It was not clear why the government started the practice of rewriting the data. It is also unclear how gross domestic […]

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World

Japan Parliamentary Elections: Fumio Kishida’s coalition secures comfortable majority in elections

Japan’s Prime Minister Fumio Kishida’s coalition has secured a comfortable majority in Sunday’s parliamentary election. Defying some predictions, Kishida’s Liberal Democratic Party (LDP) claimed 259 seats in the 465-member lower house, a result that gives the party an absolute stable majority and control over parliamentary committees. The LDP’s junior coalition partner Komeito won 32 seats, […]

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World

Japan: Fumio Kishida wins race to become next prime minister

Japan’s ruling Liberal Democratic Party (LDP) elected former top diplomat Fumio Kishida as its new leader on Wednesday after a tightly contested race, taking him one step closer to becoming the nation’s next prime minister. Kishida is widely expected to take the reins of the world’s third-largest economy once Parliament convenes in October, succeeding outgoing […]