Latest

Japan FY 2025 current account surplus hits record high for 3rd year in row

TOKYO: Japan’s current account surplus in the year through March hit a new high for the third year in a row at 34.52 trillion yen ($219 billion), as goods trade returned to the black for the first time in five years on strong chip exports, government data showed Wednesday.

The surplus rose 15.0 percent from a year earlier, also buoyed by increases in returns on foreign investments amid the weak yen. Primary income, which reflects how much Japan earned from overseas investments, climbed 2.1 percent to 42.28 trillion yen.

The goods trade balance registered a surplus of 1.36 trillion yen compared to a deficit of 3.03 trillion yen the previous year, the Finance Ministry said in a preliminary report.

Robust demand from Taiwan and other parts of Asia for Japanese electronic devices including semiconductors drove exports up 3.3 percent to 111.35 trillion yen.

Imports decreased 0.8 percent to 109.98 trillion yen as lower prices of crude oil pushed down overall shipments to Japan by value, with the impact of the Middle East conflict launched by U.S.-Israeli attacks on Iran on Feb. 28 not yet seen.

The weaker yen against the euro helped inflate dividends and interest earnings from overseas investments, with the yen falling 6.8 percent from a year earlier on average to 174.78 for fiscal 2025. The Japanese unit, meanwhile, traded 150.72 against the U.S. dollar on average in the same year, edging up 1.2 percent.

For the reported fiscal year, oil prices logged $71.41 per barrel, down 13.3 percent from the year before, the ministry said.

Services trade logged a deficit of 3.88 trillion yen, expanding red ink by 741.2 billion yen from the previous year, on rises in payouts for research and development purposes overseas.

The travel surplus shrank to 6.57 trillion yen from 6.60 trillion yen a year earlier, as the growth in foreign visitors to Japan was offset partly by more Japanese travelers going abroad, according to the ministry.

A surplus in the travel balance means spending in Japan by foreign visitors exceeded the amount spent overseas by Japanese.

In March alone, the country logged a 4.68 trillion yen current account surplus, gaining 29.1 percent from the year before, supported by increases in returns from overseas subsidiaries amid the weak yen.

A ministry official said it is difficult to estimate how much the Middle East situation affected the current account balance for March, as the conflict has hit both imports from and exports to the region by around 10 percent on year, citing separate trade data.

Inbound visitors from the Middle East decreased, but other factors, such as more travelers departing Japan, may have also influenced the overall travel balance, the official said.

The current account balance is one of the widest gauges of international trade.

Latest

Health minister orders probe into Sindh MDCAT complaints

ISLAMABAD:Federal Minister for Health Syed Mustafa Kamal has taken notice of alleged irregularities in the Medical and Dental College Admission Test (MDCAT) held in Sindh and ordered a comprehensive inquiry into the complaints.

According to official sources, the minister directed a five-member committee, including the President of the Pakistan Medical and Dental Council (PMDC), to conduct a transparent investigation and submit its report within 15 days.

The committee has been tasked with examining the complaints and reviewing the circumstances surrounding the alleged irregularities during the examination, sources said.

The minister directed the committee to complete the inquiry within the stipulated timeframe and present its findings for further action in accordance with the applicable rules.

Latest

CDA chairman directs faster work on Expressway East project

ISLAMABAD: Capital Development Authority (CDA) Chairman Sohail Ashraf has directed officials to accelerate work on the Islamabad Expressway Service Road East project while ensuring strict compliance with approved designs and construction standards.

During an inspection of the project on Saturday, the chairman reviewed progress and was briefed on ongoing works and the next phase of development.

He directed the project director and relevant departments to maintain continuous field monitoring and quality control and ensure effective traffic management to minimise inconvenience to commuters.

The chairman described the Expressway East project as an important infrastructure scheme for improving connectivity, traffic flow and road capacity in the capital. He also stressed that construction quality should not be compromised in efforts to meet the project timeline.

During the visit, he was also briefed on an ongoing enforcement operation against unauthorised and illegal construction along the Islamabad Expressway.

According to the CDA, 377 buildings have been identified for action, including 281 commercial structures. So far, 58 buildings have been sealed, while 124 buildings between Sohan and Khanna bridges have been marked for demolition.

The authority said Rs234.685 million had been recovered through land-use conversion, unauthorised construction and de-sealing charges. Around Rs3 billion remained recoverable under applicable regulations in connection with land-use conversion and violations relating to unauthorised construction, setbacks, floor area ratio and covered area.

The chairman directed the relevant departments to ensure strict enforcement of building-control and land-use regulations, particularly mandatory fire-safety requirements.

The enforcement operation is being conducted by the CDA’s Building Control Section and Enforcement Directorate in coordination with the district administration and Islamabad police.

Latest

GB ministers call on Governor Kundi

PESHAWAR: Governor Khyber Pakhtunkhwa Faisal Karim Kundi on Saturday held a meeting with a delegation of Gilgit-Baltistan ministers at the Governor’s House here and discussed the country’s political situation and other matters of mutual interest.

The delegation comprised Gilgit-Baltistan Minister for Local Government and Rural Development Zulfiqar Ali Murad, Minister for Health Iqbal Hassan and Minister for Education Aman Ali Ameer.

During the meeting, the two sides exchanged views on the prevailing political situation in the country and various issues of mutual interest. They also discussed the recent elections in Gilgit-Baltistan and the Pakistan Peoples Party’s success in the polls.

The visiting ministers were taken on a tour of the Governor’s House. Governor Kundi presented them with traditional shawls and caps.