Tokyo - Japan agreed to provide 2 billion dollars to launch a fund with the World Bank to help recapitalize struggling financial institutions, especially in developing nations.
The World Bank was expected to contribute 1 billion dollars to the fund, according to a statement released Friday at the Group of 20 (G20) summit in Washington.
The leaders of 20 developed and emerging economies gathered in Washington for a two-day summit to discuss ways to fight the global financial crisis.
Tokyo - Nissan Motor Co said Friday that it would reduce its production mainly for exports to the United States and Europe because of slowing demand amid the global economic downturn.
Japan's third-largest automaker said it would cut 72,000 units of domestic production. The reduction was in addition to an earlier announced production cut of 75,000 cars, bringing the total cuts for this fiscal year, which ends March 31, to 147,000 units.
The cuts would make up about 10 per cent of Nissan's initially planned output of about 1.4 million units.
Tokyo - Sumitomo Mitsui Financial Group Inc saw its net profit drop 51.2 per cent during the April-September period to 83.28 billion yen (870.74 million dollars) from a year earlier, the banking g
Tokyo - Asian stock markets were in a downward spiral Thursday, tracking overnight losses on Wall Street and falling on persistent worries over a US recession.
The Tokyo stock market extended its losing streak with the Nikkei 225 Stock Average falling 456.87 points, or 5.25 per cent, to close at 8,238.64, a two-week low.
The broader Topix index of all first-section issues was also down 4.31 per cent at 837.53.
Tokyo - Japan agreed to provide 2 billion dollars to launch a fund with the World Bank to help recapitalize struggling financial institutions, especially in developing nations.
Tokyo - Nissan Motor Co said Friday that it would reduce its production mainly for exports to the United States and Europe because of slowing demand amid the global economic downturn.
Tokyo - Stocks bounced back Friday in Tokyo on the back of Wall Street's overnight rise and the yen weakening against the dollar.
Tokyo - Stocks bounced back Friday in Tokyo on the back of Wall Street's overnight rises and the yen weakening against the dollar.
Tokyo - Asian stock markets were in a downward spiral Thursday, tracking overnight losses on Wall Street and falling on persistent worries over a US recession.
