Kyoto Mayor Matsui

KYOTO, Japan, Jan. 14 Kyodo - Kyoto Mayor Koji Matsui explains during a press conference in Kyoto on Jan. 14, 2025, about the city government's decision to raise its lodging tax for people staying at hotels and other accommodations from March 2026, setting the maximum rate at a sharply higher 10,000 yen ($64) per person per night. (Kyodo)

Kyoto Mayor Matsui

Kyoto Mayor Matsui

Kyoto Mayor Koji Matsui explains during a press conference in Kyoto on Jan. 14, 2025, about the city government's decision to raise its lodging tax for people staying at hotels and other accommodations from March 2026, setting the maximum rate at a sharply higher 10,000 yen ($64) per person per night.

Egypt launches poultry, egg price reduction initiative

STORY: Egypt launches poultry, egg price reduction initiative SHOOTING TIME: file DATELINE: April 2, 2024 LENGTH: 00:00:59 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of a chicken farm in Egypt STORYLINE: Egyptian Prime Minister Mostafa Madbouly on Monday reviewed an initiative to reduce the prices of poultry and eggs by a rate ranging from 10 percent to 15 percent. Egyptian minister of agriculture and land reclamation explained that this initiative comes in response to the directives of the political leadership, as well as the government's initiatives and efforts to reduce commodity prices. As a result of this initiative starting Tuesday, the price of a kilogram of chickens on the farm is set to be 85 Egyptian pounds, and the price of a carton of table eggs to be 135 pounds. The minister confirmed that, in light of these announced prices, the price to the consumer will be a maximum of 95 pounds for poultry, and 145 pounds for eggs. Xinhua News Agency correspondents reporting from C

New Zealand increases official cash rate to 5.25 pct

STORY: New Zealand increases official cash rate to 5.25 pct DATELINE: April 6, 2023 LENGTH: 00:02:10 LOCATION: Wellington CATEGORY: ECONOMY SHOTLIST: 1. various of banks and cash machines 2. various of supermarkets 3. various of street view and gas station STORYLINE: The Reserve Bank of New Zealand (RBNZ) on Wednesday increased its Official Cash Rate (OCR) by 50 basis points, from 4.75 percent to 5.25 percent, its highest level since late 2008. The central bank's Monetary Policy Committee agreed the OCR needs to increase, as previously indicated, to return inflation to the 1-3 percent target range over the medium term. "Inflation is still too high and persistent, and employment is beyond its maximum sustainable level," said a committee statement. The level of economic activity over the December quarter was lower than anticipated and there are emerging signs of capacity pressures in the economy easing, it said, adding demand continues to significantly outpace the economy's supply capacity, thereby mainta

New Zealand increases Official Cash Rate to highest level since 2008

STORY: New Zealand increases Official Cash Rate to highest level since 2008 DATELINE: Nov. 25, 2022 LENGTH: 00:01:56 LOCATION: Wellington CATEGORY: ECONOMY SHOTLIST: 1. various of cash machines, medical workers and gas station 2. various of New Zealand's port area 3. various of supermarket 4. various of street view STORYLINE: New Zealand on Wednesday increased the Official Cash Rate (OCR) to its highest level since December 2008, with the rise of 75 basis points, also the biggest hike since 1999. The Monetary Policy Committee of the New Zealand Reserve Bank (RBNZ) increased the OCR from 3.5 percent to 4.25 percent to further curb the widespread inflation. The committee agreed that the OCR needs to reach a higher level, and sooner than previously indicated, to ensure inflation returns to within its target range over the medium term, according to an RBNZ statement. Core consumer price inflation is too high, which was at 7.2 percent currently; employment is beyond its maximum sustainable level; and near-te

New Zealand increases Official Cash Rate to highest level since 2008

STORY: New Zealand increases Official Cash Rate to highest level since 2008 DATELINE: Nov. 23, 2022 LENGTH: 00:01:40 LOCATION: Wellington CATEGORY: ECONOMY SHOTLIST: 1. various of streets 2. various of banks 3. various of a supermarket 4. various of port STORYLINE: New Zealand on Wednesday increased the Official Cash Rate (OCR) to its highest level since December 2008, with a rise of 75 basis points, also the biggest hike since 1999. The Monetary Policy Committee of the New Zealand Reserve Bank (RBNZ) increased the OCR from 3.5 percent to 4.25 percent to further curb widespread inflation. The committee agreed that the OCR needs to reach a higher level, and sooner than previously indicated, to ensure inflation returns to within its target range over the medium term, according to an RBNZ statement. Core consumer price inflation is too high, which was at 7.2 percent currently; employment is beyond its maximum sustainable level; near-term inflation expectations have risen, it said. Global consumer price in

New Zealand hikes cash rate by 0.5 percent

STORY: New Zealand hikes cash rate by 0.5 percent DATELINE: Oct. 5, 2022 LENGTH: 00:01:56 LOCATION: Wellington CATEGORY: ECONOMY SHOTLIST: 1. various of New Zealand 2. various of people buying in the supermarket 3. various of the petrol station STORYLINE: The Monetary Policy Committee of New Zealand's central bank agreed on Wednesday to increase the Official Cash Rate (OCR) by 50 basis points to 3.5 percent. The current OCR is at its highest point in seven years. The committee agreed that it remains appropriate to continue to tighten monetary conditions at pace to maintain price stability and contribute to maximum sustainable employment. "Core consumer price inflation is too high and labor resources are scarce," said in a committee statement. Global consumer price pressures remain heightened. The global demand for goods and services is exceeding supply capacity, putting upward pressure on prices, it said. In New Zealand, the level of domestic spending has remained resilient to date, in the face of slo

Railway industry trade fair in Berlin eyes cleaner transportation

STORY: Railway industry trade fair in Berlin eyes cleaner transportation DATELINE: Sept. 22, 2022 LENGTH: 00:01:08 LOCATION: Berlin CATEGORY: TECHNOLOGY SHOTLIST: 1. various of the railway industry trade fair 2. SOUNDBITE (Chinese): XIANG XI, Vice President of Huawei's aviation and rail business unit STORYLINE: Hydrogen trains have attracted the attention of visitors at the InnoTrans, a railway industry trade fair that kicked off on Tuesday in Berlin, showing a new trend of cleaner transportation. A hydrogen train from Siemens can provide a fast acceleration rate and a short refueling time, helping reduce the carbon emission of railway transportation. The FLIRT H2 hydrogen-powered train from Stadler can reach a maximum speed of 130 km per hour. Chinese exhibitors also took their newest products to the trade fair. Huawei's aviation and rail business unit has been dedicated to the development of applications aiming to improve railway performance and passenger experience. SOUNDBITE (Chinese): XIANG XI, V

Indonesia sets economic growth at 5.3 percent, inflation at 3.3 percent in 2023

STORY: Indonesia sets economic growth at 5.3 percent, inflation at 3.3 percent in 2023 DATELINE: Aug. 17, 2022 LENGTH: 00:03:03 LOCATION: Jakarta CATEGORY: ECONOMY SHOTLIST: (Courtesy of BPMI) 1. group shots of parliament 2. group shots of speech 3. SOUNDBITE (Bahasa Indonesia): JOKO WIDODO, Indonesian President STORYLINE: Indonesia has set its economic growth target at 5.3 percent and inflation rate at 3.3 percent next year, said President Joko Widodo on Tuesday. The growth figure is based on economic dynamics, the development agenda, and future challenges, Widodo added. SOUNDBITE (Bahasa Indonesia): JOKO WIDODO, Indonesian President "By scrutinizing state expenditure and optimizing state revenue, the 2023 budget deficit is set at 2.85 percent of the GDP or 40.5 billion USD. The 2023 budget deficit is the first year we return to the deficit of a maximum of 3 percent of the GDP." "We will try our best to maintain the sustainability of strengthening the national economy," Widodo said at an annual meet

New Zealand hikes official cash rate to 3 pct

STORY: New Zealand hikes official cash rate to 3 pct DATELINE: Aug. 17, 2022 LENGTH: 00:01:56 LOCATION: Wellington CATEGORY: ECONOMY SHOTLIST: 1. various of streets 2. various of port 3. various of supermarket 4. various of people on streets STORYLINE: The Reserve Bank of New Zealand (RBNZ)'s Monetary Policy Committee raised the Official Cash Rate (OCR) to 3 percent from 2.5 percent on Wednesday. The Committee agreed it remains appropriate to continue to tighten monetary conditions at a pace to maintain price stability and contribute to maximum sustainable employment. Core consumer price inflation remains too high and labor resources remain scarce, said the central bank in a statement. The central bank uses the OCR to control inflation, encouraging people to either spend or save. The OCR is the interest rate the RBNZ pays on settlement accounts and is reviewed seven times a year. Global consumer price inflation has continued to rise, albeit with some recent reprieve from lower global oil prices, it sa

New Zealand hikes rate to 2.50 pct, food prices rise 6.6 pct in June

STORY: New Zealand hikes rate to 2.50 pct, food prices rise 6.6 pct in June DATELINE: July 13, 2022 LENGTH: 0:01:56 LOCATION: Wellington CATEGORY: ECONOMY SHOTLIST: 1. various of streets 2. various of a port 3. various of a supermarket STORYLINE: New Zealand's Monetary Policy Committee agreed on Wednesday to increase the Official Cash Rate (OCR) by 50 basis points to 2.50 percent. The Committee noted it remains appropriate to continue to tighten monetary conditions at a pace to maintain price stability and support maximum sustainable employment. It is resolute in its commitment to ensuring consumer price inflation returns to within the 1 to 3 percent target range. The level of global economic activity, combined with the ongoing supply disruptions largely driven by both COVID-19 persistence and the Ukraine crisis, continues to generate global inflation pressures. Food and energy prices are especially affected by geopolitical tension, the committee said in a statement. However, the pace of global

U.S. Fed kicks off rate-hiking cycle to combat inflation, adds to global debt concerns

STORY: U.S. Fed kicks off rate-hiking cycle to combat inflation, adds to global debt concerns DATELINE: March 17, 2022 LENGTH: 00:01:28 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. SOUNDBITE 1 (English): JEROME POWELL, U.S. Federal Reserve Chairman 2. SOUNDBITE 2 (English): JEROME POWELL, U.S. Federal Reserve Chairman 3. SOUNDBITE 3 (English): JEROME POWELL, U.S. Federal Reserve Chairman STORYLINE: The U.S. Federal Reserve on Wednesday kicked off an interest-rate hiking cycle and signaled six more rate hikes later this year, as it seeks to tame the highest U.S. inflation in four decades. SOUNDBITE 1 (English): JEROME POWELL, U.S. Federal Reserve Chairman "At the federal reserve, we are strongly committed to achieving the monetary policy goals that Congress has given us, maximum employment and price stability. Today in support of these goals, the FOMC (Federal Open Market Committee) raised its policy interest rate by one quarter percentage point." SOUNDBITE 2 (English): JEROME POWELL, U.S. Fed

LAOS-LUANG PRABANG-CHINA-RAILWAY-TOURISM

LAOS-LUANG PRABANG-CHINA-RAILWAY-TOURISM

(220226) -- LUANG PRABANG, Feb. 26, 2022 (Xinhua) -- Photo taken on Feb. 25, 2022 shows a view of the Luang Prabang Station in Luang Prabang, Laos. The Laos-China Railway was put into operation in December of 2021, which helped reviving the domestic tourism of Laos. At present, the demand of passengers travelling between Vientiane and the ancient capital of Luang Prabang is growing. As of Feb. 22, the Lao section of the China-Laos Railway had run 146 pairs of EMU passenger trains, transporting 144,610 passengers, with a maximum of 2,804 on Jan. 3 and an average occupancy rate of 68.76 percent. (Photo by Kaikeo Saiyasane/Xinhua)

LAOS-LUANG PRABANG-CHINA-RAILWAY-TOURISM

LAOS-LUANG PRABANG-CHINA-RAILWAY-TOURISM

(220226) -- LUANG PRABANG, Feb. 26, 2022 (Xinhua) -- Photo taken on Feb. 25, 2022 shows a view of the ancient town of Luang Prabang, in Laos. The Laos-China Railway was put into operation in December of 2021, which helped reviving the domestic tourism of Laos. At present, the demand of passengers travelling between Vientiane and the ancient capital of Luang Prabang is growing. As of Feb. 22, the Lao section of the China-Laos Railway had run 146 pairs of EMU passenger trains, transporting 144,610 passengers, with a maximum of 2,804 on Jan. 3 and an average occupancy rate of 68.76 percent. (Photo by Kaikeo Saiyasane/Xinhua)

LAOS-LUANG PRABANG-CHINA-RAILWAY-TOURISM

LAOS-LUANG PRABANG-CHINA-RAILWAY-TOURISM

(220226) -- LUANG PRABANG, Feb. 26, 2022 (Xinhua) -- Photo taken on Feb. 25, 2022 shows a view of the ancient town of Luang Prabang, in Laos. The Laos-China Railway was put into operation in December of 2021, which helped reviving the domestic tourism of Laos. At present, the demand of passengers travelling between Vientiane and the ancient capital of Luang Prabang is growing. As of Feb. 22, the Lao section of the China-Laos Railway had run 146 pairs of EMU passenger trains, transporting 144,610 passengers, with a maximum of 2,804 on Jan. 3 and an average occupancy rate of 68.76 percent. (Photo by Kaikeo Saiyasane/Xinhua)

LAOS-LUANG PRABANG-CHINA-RAILWAY-TOURISM

LAOS-LUANG PRABANG-CHINA-RAILWAY-TOURISM

(220226) -- LUANG PRABANG, Feb. 26, 2022 (Xinhua) -- Photo taken on Feb. 25, 2022 shows a view of the ancient town of Luang Prabang, in Laos. The Laos-China Railway was put into operation in December of 2021, which helped reviving the domestic tourism of Laos. At present, the demand of passengers travelling between Vientiane and the ancient capital of Luang Prabang is growing. As of Feb. 22, the Lao section of the China-Laos Railway had run 146 pairs of EMU passenger trains, transporting 144,610 passengers, with a maximum of 2,804 on Jan. 3 and an average occupancy rate of 68.76 percent. (Photo by Kaikeo Saiyasane/Xinhua)

LAOS-LUANG PRABANG-CHINA-RAILWAY-TOURISM

LAOS-LUANG PRABANG-CHINA-RAILWAY-TOURISM

(220226) -- LUANG PRABANG, Feb. 26, 2022 (Xinhua) -- Photo taken on Feb. 25, 2022 shows a view of the ancient town of Luang Prabang, in Laos. The Laos-China Railway was put into operation in December of 2021, which helped reviving the domestic tourism of Laos. At present, the demand of passengers travelling between Vientiane and the ancient capital of Luang Prabang is growing. As of Feb. 22, the Lao section of the China-Laos Railway had run 146 pairs of EMU passenger trains, transporting 144,610 passengers, with a maximum of 2,804 on Jan. 3 and an average occupancy rate of 68.76 percent. (Photo by Kaikeo Saiyasane/Xinhua)

LAOS-LUANG PRABANG-CHINA-RAILWAY-TOURISM

LAOS-LUANG PRABANG-CHINA-RAILWAY-TOURISM

(220226) -- LUANG PRABANG, Feb. 26, 2022 (Xinhua) -- Photo taken on Feb. 25, 2022 shows a view of the ancient town of Luang Prabang, in Laos. The Laos-China Railway was put into operation in December of 2021, which helped reviving the domestic tourism of Laos. At present, the demand of passengers travelling between Vientiane and the ancient capital of Luang Prabang is growing. As of Feb. 22, the Lao section of the China-Laos Railway had run 146 pairs of EMU passenger trains, transporting 144,610 passengers, with a maximum of 2,804 on Jan. 3 and an average occupancy rate of 68.76 percent. (Photo by Kaikeo Saiyasane/Xinhua)

LAOS-LUANG PRABANG-CHINA-RAILWAY-TOURISM

LAOS-LUANG PRABANG-CHINA-RAILWAY-TOURISM

(220226) -- LUANG PRABANG, Feb. 26, 2022 (Xinhua) -- Photo taken on Feb. 25, 2022 shows the waiting hall of the Luang Prabang Station in Luang Prabang, Laos. The Laos-China Railway was put into operation in December of 2021, which helped reviving the domestic tourism of Laos. At present, the demand of passengers travelling between Vientiane and the ancient capital of Luang Prabang is growing. As of Feb. 22, the Lao section of the China-Laos Railway had run 146 pairs of EMU passenger trains, transporting 144,610 passengers, with a maximum of 2,804 on Jan. 3 and an average occupancy rate of 68.76 percent. (Photo by Kaikeo Saiyasane/Xinhua)

LAOS-LUANG PRABANG-CHINA-RAILWAY-TOURISM

LAOS-LUANG PRABANG-CHINA-RAILWAY-TOURISM

(220226) -- LUANG PRABANG, Feb. 26, 2022 (Xinhua) -- Photo taken on Feb. 25, 2022 shows a view of the Luang Prabang Station in Luang Prabang, Laos. The Laos-China Railway was put into operation in December of 2021, which helped reviving the domestic tourism of Laos. At present, the demand of passengers travelling between Vientiane and the ancient capital of Luang Prabang is growing. As of Feb. 22, the Lao section of the China-Laos Railway had run 146 pairs of EMU passenger trains, transporting 144,610 passengers, with a maximum of 2,804 on Jan. 3 and an average occupancy rate of 68.76 percent. (Photo by Kaikeo Saiyasane/Xinhua)

HIGHTECH SEIKO's newly installed vacuum furnace.

HIGHTECH SEIKO's newly installed vacuum furnace.

Hitec Seiko (Hanamigawa-ku, Chiba City) has introduced a new type of vacuum heat treatment furnace. The new furnace reduces the processing time to about 10 hours, 30% less than the previous model. By increasing the utilization rate and providing more space in the furnace, the company aims to stabilize the quality. We will increase the sales of the heat treatment business to 270 million yen in the fiscal year ending March 2020, up 12.5% from the previous fiscal year. The company has newly introduced the PQ-65 pressure-cooled horizontal vacuum furnace manufactured by IHI Mechanical Systems (Koto-ku, Tokyo), with a view to entering the aerospace field in the future. The maximum processing capacity of the vacuum furnace is 400 kilograms, which is the same as the conventional furnace, but the processing time can be reduced from 15 hours with the conventional furnace. HIGHTECH SEIKO, Hanamigawa-ku, Chiba City, July 19, 2019. Credit: Nikkan Kogyo Shimbun / Kyodo News Images