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Business & Economics, Japan


Turkey will take a step with Japan for nuclear energy, Prime Minister Recep Tayyip Erdogan said on Tuesday, Anadolu agency reported.

"We have taken the first step with Russia, and we are taking the second step with Japan, said Turkish Prime Minister who held a joint press conference with his Japanese counterpart Shinzo Abe in Istanbul on Tuesday.

"We wish to make this investment as soon as possible," Erdogan added.


Japan logged a trade deficit of 1.02 trillion yen (10.2 billion dollars) in July, the 13th consecutive month of loss, amid the yen's fall and growing fossil fuel imports, dpa reported Monday.

Overall imports jumped 19.6 per cent to 6.99 trillion yen, making the ninth straight month of year-on-year rises, while exports grew 12.2 per cent to 5.96 trillion yen for the fifth straight month of increases compared to the same periods last year, the Finance Ministry said in a preliminary report.


Turkmen president Gurbanguly Berdimuhamedov received Executive Vice-President of Japanese "Sony" company Shoji Nemoto who voiced several business proposals, Neutral Turkmenistan newspaper reported today.

According to the newspaper, "Sony" is ready to expand its presence in the Turkmen market. The further development of media's material-technical basis, delivery of communication systems, medical equipment are among the possible areas of cooperation.


Japanese Prime Minister Shinzo Abe's cabinet on Friday approved a fiscal stimulus package worth 20 trillion yen (225 billion dollars) to spur the economy, dpa reported.

The package includes large-scale public works projects and measures to stimulate investment, media reports said.

Japan is in recession as it struggles with a stronger yen, falling exports, the eurozone debt crisis and growing tensions with China, the nation's largest trading partner.


Japan's Finance Ministry says the Asian state more than doubled its crude imports from Iran in November compared with October, Press TV reported.

Japan's November crude purchase from Iran hit the highest level since March, Bloomberg reported on Thursday.

Japan imported 1.25 million kiloliters of crude from Iran in November compared with 469,024 kiloliters in October.

Tokyo-based independent energy economist, Osamu Fujisawa said Japan is raising its crude imports from Iran in a bid to make up for its shortages due to Western sanctions against Iran.


Japan's crude oil imports from Iran in September fell 36,1 percent from a year earlier, data from the trade ministry showed on Wednesday, as Western sanctions continued to squeeze exports from the Middle Eastern country, Reuters reported.

The Islamic Republic is under intense financial pressure from U.S. and European trade restrictions imposed over its disputed nuclear programme. Iran denies all accusations, claiming its nuclear program is of civilian nature.


Japan's crude oil imports from Iran in August fell 66.8 percent from a year earlier to 497,961 kilolitres (101,035 barrels per day), the trade ministry said on Friday, following a one-month hiatus in July, after European Union sanctions affecting insurance reduced the flow, Reuters reported.

Japanese buyers stopped lifting Iranian crude in early June, so vessels sailing the final part of their journey to Japan would be covered by insurance in early July.

Armed with a sovereign guarantee, Japanese buyers resumed loading Iranian oil in late July, with the oil arriving in Japan in August.


Japan's crude imports from Iran fell 33.9 percent in June from a year earlier, as refiners reduced purchases from the Islamic Republic before the imposition of EU sanctions from July 1, Reuters reported.

Customs-cleared imports from Iran fell to 812,693 kilolitres (170,389 barrels per day), Ministry of Finance data showed on Monday.

The US and Europe are trying to squeeze the revenues Iran makes from oil exports in order to force it to halt a nuclear program they fear will be used to make weapons, but which Tehran says is for power generation.


Japanese insurers are expanding their maritime coverage to allow more domestic tankers to transport Iranian crude, as Tokyo looks to keep oil flowing despite tough Western sanctions, industry sources told Reuters on Wednesday.

Japan, Iran's third biggest oil buyer, is expected to resume imports of the OPEC member's crude in August after halting shipments this month as buyers held back to avoid any risk of running afoul of European Union sanctions, which took effect last week.


At least two of Asia's four top buyers of Iranian crude will keep imports flowing, though at overall reduced rates, as they find ways around an EU ban on insuring tankers carrying the Islamic country's oil, Reuters reported.

Asia needs oil to feed growing demand and top consumers are reluctant to entirely halt imports from Iran and depend entirely on top exporter Saudi Arabia, especially given that output from other alternative suppliers such as Libya and Iraq has not stabilized.