Riyadh crackdown nets 19 illegal expatriates    The Joint Forces Command of the Coalition to Restore Legitimacy in Yemen: Interception, Destruction of Multiple Bomb-Laden (UAVs) in Yemen    Liverpool's Klopp, Alexander-Arnold win Premier League awards    Uganda looks online for answers to COVID economic crisis    Global COVID-19 cases cross 21 million-mark    Bahrain supports UAE-Israel accord    Saudi aide to Palestinians amounts to $6.5bn in two decades    Medical coding course planned for Hadaf beneficiaries    43% increase in ICU bed capacity in Riyadh hospitals    Pakistan seeks to strengthen ties with Sri Lanka    Russia reports more than 5,000 new coronavirus cases    UN Security Council rejects Iran arms embargo extension: Pompeo    Saudi Press: Saudi Arabia Exerts Great Efforts in Supporting Peace Process in Yemen    Weather Forecast for Saturday    GLOBAL MARKETS-Stocks Dip on Lukewarm Data; Oil Falls    APIC achieves net profits of $9.02 million in H1 of 2020    44 electronic stores penalized for violating new e-commerce system    Not enough demand for US 30y bond; markets mixed    Emirati Al Nuaimi, Gemany's Hansske top in the DXB Snow Run at Ski Dubai    Dammam Port Records Highest Number of Container Handling from One Ship    Indonesia reports 2,307 new coronavirus infections, 53 deaths    Custodian of the Two Holy Mosques Congratulates President of Congo on Independence Day    Riyadh Declaration" of Digital Health Summit outlines practical plan to confront epidemics    Still plenty to play for in Saudi Pro League    SAFCSP Launches Online Cybersecurity Bootcamp for Saudis    Qualifying matches for World Cup 2022, Asian Cup 2023 rescheduled    Saudi Films Festival poised to witness wide participation, reports say    SAR Wins International Safety Award 2020 from British Safety Council    Saudi Arabia Launches First Luxury Cruises Along Red Sea Coast on August 27    Fourth edition of the Noon Arts Award open for submissions    Louvre Abu Dhabi joins J. Paul Getty Museum in investigating ancient panel paintings    Thousands participate in SFA's first Step Together half and full summer marathon    Saudi woman seeks to restrain wealthy hubby from remarrying    Human evolution and woman    Maraya hall in AlUla wins prestigious architecture award    Juventus Sacks Sarri After Exit UEFA Champions League    Al-Nasr, Al-Hilal Fans Follow up Riyadh Derby, in various Cinemas, Venues    India's top minister Amit Shah tests positive for coronavirus    Azra Aly, South African pilgrim: ‘The beginning of the rest of my life'    Paris Saint-Germain beats Lyon to win League Cup final    Eid Al-Adha Prayer Performed at the Grand Holy Mosque    Islam calls for protecting communities against epidemics: Sheikh Al-Manea    Pilgrims Perform Dhuhr and Asr Prayers in Arafat Holy Site    Complementary, Alternative Medicine Practicing 1st Manual Version Issued    Saudi Ithra center launches dialogue sessions with most famous creators in the world    SFDA Implements National Program to Ensure Safety of 10,000 Food Samples    Senior Scholars Council Issues Decision No. 246 Regarding Attendance of Friday Prayer and Prayers at Mosques in a Case of Spread of Epidemic or Fear of its Spread    Custodian of the Two Holy Mosques Addresses Citizens and Muslims on Eid Al-Fitr    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Japan OK's 2nd stimulus package to spur economy
Published in The Saudi Gazette on 02 - 12 - 2012

TOKYO — Japanese Finance Minister Koriki Jojima said that the Japanese government Friday approved a second stimulus package totaling 1.2 trillion yen, about $14.6 billion, in a bid to bolster the nation's anemic economy.
“The latest stimulus package will a have positive impact on supporting the economy as they includes deregulation measures, outlays for rebuilding the disaster-hit areas and revitalization of the economy,” Finance Minister Koriki Jojima told a news conference earlier Friday.
The latest package comes ahead of a general election scheduled for Dec. 16 and Prime Minister Yoshihiko Noda may come under fire for unrolling the spending package as a means to garner electoral votes as the ruling Democratic Party of Japan gears up to fight an almost insurmountable battle against the main opposition Liberal Democratic Party to stay in power.
The package, to be funded by reserves in the fiscal 2012 budget, is aimed at boosting social security facilities, creating more jobs and providing financial support to small and medium-sized businesses. The Japanese Cabinet said that 880.3 billion yen (around $10.7 billion), has been earmarked to be spent on these projects and to slow Japan's imminent descent into its third technical recession since 2008.
According to the government's latest figures, the world's third largest economy shrank 3.5 percent in the July-September quarter, and leading economists predict that GDP figures for the current quarter, despite an increase in industrial output in October, will confirm that the Japanese economy has entered a recession phase. However, government officials on Friday said the new package, the second of its kind in as many months, would create a total of around 120,000 new jobs and add 0.4 percent to Japan's overall GDP within a 12-month period.
The LDP and its chief Shinzo Abe will likely oust Noda's DPJ, ending a three year reign for the Democrats and Abe will almost certainly succeed Noda as Japan's Prime Minister following the December election, political pundits attest. Noda is eyeing a third extra stimulus package for the current fiscal year through March, to be funded by an extra budget, but the successful passage of this policy will be determined by the results of the upcoming general election.
The cabinet said it has earmarked 132 billion yen to build new nursing homes and better-equip existing ones, in response to Japan ‘s rapidly aging society, and around 110 billion yen will be used to stimulate the job market. In addition 95 billion yen will be used to prop up small and medium-sized enterprises, the cabinet said. — Agencies


Clic here to read the story from its source.