South Korea Sunday began two days of war games to practise defending disputed islands off its east coast against an unlikely attack from Japan, further stoking tensions between the Asian neighbours.

The annual drills come just days after Seoul terminated a <a href="https://www.wionews.com/world/japan-says-south-korea-fails-to-grasp-north-korea-threat-with-scrapping-of-pact-245084">military intelligence-sharing pact with Tokyo</a>, with the countries at loggerheads over Japan's use of forced labour during World War II.

The two-day exercise will involve warships and aircraft, the South Korean navy said in a text message without providing more detail.

The drill -- re-named "East Sea territory defence training" -- will solidify the military's resolve to defend the Dokdo islands and the area surrounding the Sea of Japan, the navy said.

While a Japanese attack is deemed highly unlikely, South Korea first staged the drills in 1986 and has conducted them twice a year -- usually in June and December.

The delayed exercise comes as tensions with neighbouring Japan continue.

Seoul has controlled the rocky islets in the Sea of Japan since 1945 when Tokyo's 35-year colonial rule over the Korean peninsula ended.

Tokyo also claims the islands and accuses South Korea of occupying them illegally.

The two nations are both market economies, democracies and US allies, and both are threatened by nuclear-armed North Korea.

But the two neighbours have been embroiled in intensifying trade and diplomatic disputes in recent weeks, following a run of South Korean court rulings ordering Japanese firms to pay for forced labour during World War II.

The series of tit-for-tat measures that began in July after Japan imposed new restrictions on exports crucial to South Korean tech firms has seen Seoul and Tokyo remove each other from their lists of trusted trade partners.

South Korea Sunday began two days of war games to practise defending disputed islands off its east coast against an unlikely attack from Japan, further stoking tensions between the Asian neighbours.

South Korea Sunday began two days of war games to practise defending disputed islands off its east coast against an unlikely attack from Japan, further stoking tensions between the Asian neighbours. The annual drills come just days after Seoul terminated a military intelligence-sharing pact with Tokyo, with the countries at loggerheads over Japan's use of forced labour during World War II. The two-day exercise will involve warships and aircraft, the South Korean navy said in a text message without providing more detail. The drill -- re-named "East Sea territory defence training" -- will solidify the military's resolve to defend the Dokdo islands and the area surrounding the Sea of Japan, the navy said. While a Japanese attack is deemed highly unlikely, South Korea first staged the drills in 1986 and has conducted them twice a year -- usually in June and December. The delayed exercise comes as tensions with neighbouring Japan continue. Seoul has controlled the rocky islets in the Sea of Japan since 1945 when Tokyo's 35-year colonial rule over the Korean peninsula ended. Tokyo also claims the islands and accuses South Korea of occupying them illegally. The two nations are both market economies, democracies and US allies, and both are threatened by nuclear-armed North Korea. But the two neighbours have been embroiled in intensifying trade and diplomatic disputes in recent weeks, following a run of South Korean court rulings ordering Japanese firms to pay for forced labour during World War II. The series of tit-for-tat measures that began in July after Japan imposed new restrictions on exports crucial to South Korean tech firms has seen Seoul and Tokyo remove each other from their lists of trusted trade partners.

South Korea begins annual war games to defend against Japan

US&nbsp;President Donald Trump and Japanese Prime Minister Shinzo Abe displayed their differences over the seriousness of North Korea's series of short-range&nbsp;missile&nbsp;launches on Sunday while maintaining that they would remain in sync on the issue.

Trump, who <a href="https://www.wionews.com/world/trump-says-us-has-really-good-relationship-with-north-korea-245245">prizes his relationship with North Korean leader Kim Jong-un</a>, said the launches did not violate an agreement and were in line with what others were doing. Abe said the launches violated UN&nbsp;resolutions.

Launches of <a href="https://www.wionews.com/world/north-korea-launches-short-range-missiles-again-complicating-us-attempts-for-talks-245221">short-range ballistic&nbsp;missiles on Saturday</a> were the seventh by North Korea since Trump and Kim met at the inter-Korean border in June.

The launches have complicated attempts to restart talks between US&nbsp;and North Korean negotiators over the future of Pyongyang's nuclear weapons and ballistic&nbsp;missile&nbsp;programmes.

North Korean leader Kim Jong-Un oversaw the test of a "super-large multiple rocket launcher" on Saturday, state news agency KCNA reported on Sunday.

North Korea fired what appeared to be two short-range ballistic missiles into the sea off its east coast, the South Korean military said, the latest in a series of launches in recent weeks amid stalled denuclearization talks.

Photos released by North Korean state media showed rockets launching from large tubes mounted on the back of an eight-wheel vehicle.

Watch:&nbsp;North Korea fires two suspected missiles, 7th missile in a month

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Analysts said it appeared to be at least the fourth new missile system unveiled by North Korea since denuclearization talks stalled at a February summit between Kim and US&nbsp;President Donald Trump.

North Korea must step up development of new strategic and tactical weapons to counter "ever-mounting military threats and pressure offensive of the hostile forces," Kim said on Saturday, according to KCNA.

North Korea's young defence scientists who developed the missiles are a "precious treasure and wealth of the country which cannot be bartered for anything," Kim said.

On Saturday, a KCNA commentary said North Korea "will never barter the strategic security of the country for the sanctions relief."

American officials have been trying to restart the stalled talks with North Korea over its nuclear weapons and ballistic missile programs, which are heavily sanctioned.

After the latest tests, Trump again touted his good relationship with Kim and said the North Korean leader had been "pretty straight with me."

US President Donald Trump and Japanese Prime Minister Shinzo Abe displayed their differences over the seriousness of North Korea's series of short-range missile launches on Sunday while maintaining that they would remain in sync on the issue.

US President Donald Trump and Japanese Prime Minister Shinzo Abe displayed their differences over the seriousness of North Korea's series of short-range missile launches on Sunday while maintaining that they would remain in sync on the issue. Trump, who prizes his relationship with North Korean leader Kim Jong-un, said the launches did not violate an agreement and were in line with what others were doing. Abe said the launches violated UN resolutions. Launches of short-range ballistic missiles on Saturday were the seventh by North Korea since Trump and Kim met at the inter-Korean border in June. The launches have complicated attempts to restart talks between US and North Korean negotiators over the future of Pyongyang's nuclear weapons and ballistic missile programmes. North Korean leader Kim Jong-Un oversaw the test of a "super-large multiple rocket launcher" on Saturday, state news agency KCNA reported on Sunday. North Korea fired what appeared to be two short-range ballistic missiles into the sea off its east coast, the South Korean military said, the latest in a series of launches in recent weeks amid stalled denuclearization talks. Photos released by North Korean state media showed rockets launching from large tubes mounted on the back of an eight-wheel vehicle. Watch: North Korea fires two suspected missiles, 7th missile in a month × Analysts said it appeared to be at least the fourth new missile system unveiled by North Korea since denuclearization talks stalled at a February summit between Kim and US President Donald Trump. North Korea must step up development of new strategic and tactical weapons to counter "ever-mounting military threats and pressure offensive of the hostile forces," Kim said on Saturday, according to KCNA. North Korea's young defence scientists who developed the missiles are a "precious treasure and wealth of the country which cannot be bartered for anything," Kim said. On Saturday, a KCNA commentary said North Korea "will never barter the strategic security of the country for the sanctions relief." American officials have been trying to restart the stalled talks with North Korea over its nuclear weapons and ballistic missile programs, which are heavily sanctioned. After the latest tests, Trump again touted his good relationship with Kim and said the North Korean leader had been "pretty straight with me."

Japan's Abe refutes Trump, says North Korea missile launches violate UN resolutions

Taiwan braced for Typhoon Bailu on Friday, prompting cancellations of domestic flights amid warnings of floods and high season the island.

Typhoon Bailu, categorised at the weakest typhoon level by Taiwan's weather bureau, was expected to approach off the island's southeastern coast early on Saturday.&nbsp;

It was moving across the ocean in a northwesterly direction at 24 km per hour (15 mph), weather officials said.

Bailu was carrying maximum winds of 126 km per hour (78 mph) as it approaches <a href="https://www.wionews.com/world/us-state-department-approves-sale-of-66-f-16-fighters-to-taiwan-244591">Taiwan</a>, the weather bureau said, adding that the storm could gain in strength and become the first typhoon to make landfall on the island in more than two years.

Thousands of people were moved to safety, most of them tourists on islands off the east coast, while dozens of domestic flights and ferry services were cancelled.

Some 34,000 soldiers were deployed in the south amid fears of floods.

The bureau issued wind and rain warnings for southeastern Taiwan, and other southern counties were expected to be included in the warnings later in the day. It also put out a warning to seafarers.

After passing over Taiwan, the typhoon is expected to cross the Taiwan Strait and hit the Chinese province of Fujian, forecasters said.

Typhoons regularly hit Taiwan, China, the Philippines, and Japan in the second half of the year, gathering strength from the warm waters of the Pacific Ocean or the South China Sea.

Typhoon Morakot devastated the island in 2009, killing nearly 700 people, most of them in landslides.

Taiwan braced for Typhoon Bailu on Friday, prompting cancellations of domestic flights amid warnings of floods and high season the island. Typhoon Bailu, categorised at the weakest typhoon level by Taiwan's weather bureau, was expected to approach off the island's southeastern coast early on Saturday.

Taiwan braced for Typhoon Bailu on Friday, prompting cancellations of domestic flights amid warnings of floods and high season the island. Typhoon Bailu, categorised at the weakest typhoon level by Taiwan's weather bureau, was expected to approach off the island's southeastern coast early on Saturday. It was moving across the ocean in a northwesterly direction at 24 km per hour (15 mph), weather officials said. Bailu was carrying maximum winds of 126 km per hour (78 mph) as it approaches Taiwan, the weather bureau said, adding that the storm could gain in strength and become the first typhoon to make landfall on the island in more than two years. Thousands of people were moved to safety, most of them tourists on islands off the east coast, while dozens of domestic flights and ferry services were cancelled. Some 34,000 soldiers were deployed in the south amid fears of floods. The bureau issued wind and rain warnings for southeastern Taiwan, and other southern counties were expected to be included in the warnings later in the day. It also put out a warning to seafarers. After passing over Taiwan, the typhoon is expected to cross the Taiwan Strait and hit the Chinese province of Fujian, forecasters said. Typhoons regularly hit Taiwan, China, the Philippines, and Japan in the second half of the year, gathering strength from the warm waters of the Pacific Ocean or the South China Sea. Typhoon Morakot devastated the island in 2009, killing nearly 700 people, most of them in landslides.

Flights cancelled as Taiwan braces for typhoon

South Korea will scrap an intelligence-sharing pact with Japan amid an intensifying dispute over <a href="https://www.wionews.com/world/south-koreas-moon-open-to-dialogue-with-japan-amid-trade-row-243077">history and trade</a>, South Korea's presidential office said on Thursday.

The decision was made after a meeting of the presidential National Security Council. The deal was due to be automatically renewed on Saturday, unless either side decided to cancel it.

Japan created a "grave change" in the environment for bilateral security cooperation by removing <a href="https://www.wionews.com/world/japan-in-the-dark-over-south-korea-trade-controls-minister-sung-yun-mo-242609">South Korea's fast-track</a> export status, said Kim You-geun, a deputy director of the National Security Council.

Relations between the two countries soured after the South Korean Supreme Court ordered some Japanese firms to compensate Korean wartime workers last October, a move strongly condemned by Tokyo, which says the matter was resolved by a 1965 treaty normalising ties.

The feud has spilled over into trade, after Japan tightened export controls on materials vital to South Korean chipmakers and then dropped Seoul from a list of countries eligible for fast-track exports, prompting South Korea to take a similar step towards Japan.

The number of South Korean tourists visiting Japan fell last month to its lowest in nearly a year, amid a far-reaching boycott of Japanese products and services, from cars to beer and tours.

Abe last month tightened curbs on exports to South Korea of three high-tech materials needed to make memory chips and display panels. The government this month cancelled South Korea's fast-track trade status.

Removing South Korea from a "white-list" of favoured export destinations means some Japanese exporters face more paperwork and on-site inspections before they can win permits, which could slow Korea-bound exports for a wide range of goods. 
&nbsp;

South Korea will scrap an intelligence-sharing pact with Japan amid an intensifying dispute over history and trade, South Korea's presidential office said on Thursday.

South Korea will scrap an intelligence-sharing pact with Japan amid an intensifying dispute over history and trade, South Korea's presidential office said on Thursday. The decision was made after a meeting of the presidential National Security Council. The deal was due to be automatically renewed on Saturday, unless either side decided to cancel it. Japan created a "grave change" in the environment for bilateral security cooperation by removing South Korea's fast-track export status, said Kim You-geun, a deputy director of the National Security Council. Relations between the two countries soured after the South Korean Supreme Court ordered some Japanese firms to compensate Korean wartime workers last October, a move strongly condemned by Tokyo, which says the matter was resolved by a 1965 treaty normalising ties. The feud has spilled over into trade, after Japan tightened export controls on materials vital to South Korean chipmakers and then dropped Seoul from a list of countries eligible for fast-track exports, prompting South Korea to take a similar step towards Japan. The number of South Korean tourists visiting Japan fell last month to its lowest in nearly a year, amid a far-reaching boycott of Japanese products and services, from cars to beer and tours. Abe last month tightened curbs on exports to South Korea of three high-tech materials needed to make memory chips and display panels. The government this month cancelled South Korea's fast-track trade status. Removing South Korea from a "white-list" of favoured export destinations means some Japanese exporters face more paperwork and on-site inspections before they can win permits, which could slow Korea-bound exports for a wide range of goods.

South Korea to scrap intelligence-sharing pact with Japan

Japan's Self Defence Forces (JSDF) demonstrated their firepower at the foot of Mount Fuji on August 22 during their annual summer military exercise. Over 2,400 JSDF personnel, 80 tanks and 20 aircraft participated in a variety of live fire and combat drills. Watch this video to know more.

Japan conducts live fire drills near Mount Fuji

The Indian men's hockey team registered a 6-3 win over Japan in their third match of the Olympic Test Event at the Oi Hockey Stadium here on Tuesday to reach the final of the tournament.

Mandeep Singh displayed a brilliant form as he scored thrice in the game. Nilakanta Sharma found the target first through a field goal in the third minute.

India were awarded a penalty corner four minutes after Sharma's goal and Nilam Sanjeep Xess made no mistake, taking lead to 2-0. Mandeep Singh did not take much time to consolidate the position as he netted in the ninth minute.

Kentaro Fukuda opened the account for Japan striking in the 25th minute. However, impeccable goals by Mandeep Singh in the 29th and 30th minute took the tally to 5-1.

Japan's Kenta Tanaka fought back and scored in the 36th minute. India registered their sixth goal through Gurjant Singh in the 41st minute.

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FT: 🇮🇳 6-3 🇯🇵 
 
WHAT. A. WIN. 
 
After a hiccup in the previous game, <a href="https://twitter.com/hashtag/TeamIndia?src=hash&amp;ref_src=twsrc%5Etfw">#TeamIndia</a> are back to winning ways as they book their berth in the FINALS. 💪 🇮🇳<a href="https://twitter.com/hashtag/IndiaKaGame?src=hash&amp;ref_src=twsrc%5Etfw">#IndiaKaGame</a> <a href="https://twitter.com/hashtag/ReadySteadyTokyo?src=hash&amp;ref_src=twsrc%5Etfw">#ReadySteadyTokyo</a> <a href="https://twitter.com/hashtag/Tokyo2020?src=hash&amp;ref_src=twsrc%5Etfw">#Tokyo2020</a> <a href="https://twitter.com/hashtag/INDvJPN?src=hash&amp;ref_src=twsrc%5Etfw">#INDvJPN</a> <a href="https://twitter.com/WeAreTeamIndia?ref_src=twsrc%5Etfw">@WeAreTeamIndia</a> <a href="https://t.co/flOg7JAJbE">pic.twitter.com/flOg7JAJbE</a>
— Hockey India (@TheHockeyIndia) <a href="https://twitter.com/TheHockeyIndia/status/1163671138842509312?ref_src=twsrc%5Etfw">August 20, 2019</a></blockquote>
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Japan launched an attack in the fourth quarter and succeded in the 52nd minute.

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<a href="https://twitter.com/hashtag/TeamIndia?src=hash&amp;ref_src=twsrc%5Etfw">#TeamIndia</a> are back on track as they defeated the hosts 6-3, that included a hat-trick by star Striker <a href="https://twitter.com/mandeepsingh995?ref_src=twsrc%5Etfw">@mandeepsingh995</a>, powering 🇮🇳 into the Finals against New Zealand on 21st August: <a href="https://t.co/bQhZel7QSb">https://t.co/bQhZel7QSb</a><a href="https://twitter.com/hashtag/IndiaKaGame?src=hash&amp;ref_src=twsrc%5Etfw">#IndiaKaGame</a> <a href="https://twitter.com/hashtag/ReadySteadyTokyo?src=hash&amp;ref_src=twsrc%5Etfw">#ReadySteadyTokyo</a> <a href="https://twitter.com/hashtag/Tokyo2020?src=hash&amp;ref_src=twsrc%5Etfw">#Tokyo2020</a> <a href="https://twitter.com/hashtag/INDvJPN?src=hash&amp;ref_src=twsrc%5Etfw">#INDvJPN</a> <a href="https://twitter.com/WeAreTeamIndia?ref_src=twsrc%5Etfw">@weareteamindia</a> <a href="https://t.co/Q9Y9pBnOos">pic.twitter.com/Q9Y9pBnOos</a>
— Hockey India (@TheHockeyIndia) <a href="https://twitter.com/TheHockeyIndia/status/1163705165855068161?ref_src=twsrc%5Etfw">August 20, 2019</a></blockquote>
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Shortly before the final whistle, India saved a penalty corner. India will play against New Zealand in the final tomorrow.

The Indian men's hockey team registered a 6-3 win over Japan in their third match of the Olympic Test Event at the Oi Hockey Stadium here on Tuesday to reach the final of the tournament.

The Indian men's hockey team registered a 6-3 win over Japan in their third match of the Olympic Test Event at the Oi Hockey Stadium here on Tuesday to reach the final of the tournament. Mandeep Singh displayed a brilliant form as he scored thrice in the game. Nilakanta Sharma found the target first through a field goal in the third minute. India were awarded a penalty corner four minutes after Sharma's goal and Nilam Sanjeep Xess made no mistake, taking lead to 2-0. Mandeep Singh did not take much time to consolidate the position as he netted in the ninth minute. Kentaro Fukuda opened the account for Japan striking in the 25th minute. However, impeccable goals by Mandeep Singh in the 29th and 30th minute took the tally to 5-1. Japan's Kenta Tanaka fought back and scored in the 36th minute. India registered their sixth goal through Gurjant Singh in the 41st minute. FT: 🇮🇳 6-3 🇯🇵 WHAT. A. WIN. After a hiccup in the previous game, #TeamIndia are back to winning ways as they book their berth in the FINALS. 💪 🇮🇳#IndiaKaGame #ReadySteadyTokyo #Tokyo2020 #INDvJPN @WeAreTeamIndia pic.twitter.com/flOg7JAJbE — Hockey India (@TheHockeyIndia) August 20, 2019 × Japan launched an attack in the fourth quarter and succeded in the 52nd minute. #TeamIndia are back on track as they defeated the hosts 6-3, that included a hat-trick by star Striker @mandeepsingh995, powering 🇮🇳 into the Finals against New Zealand on 21st August: https://t.co/bQhZel7QSb#IndiaKaGame #ReadySteadyTokyo #Tokyo2020 #INDvJPN @weareteamindia pic.twitter.com/Q9Y9pBnOos — Hockey India (@TheHockeyIndia) August 20, 2019 × Shortly before the final whistle, India saved a penalty corner. India will play against New Zealand in the final tomorrow.

India reaches final of Olympic Test Event after 6-3 win over Japan

&nbsp;Japanese police on Monday arrested a man claiming to be Chinese for throwing a black ink-like liquid on a curtain at one of the buildings of Tokyo's Yasukuni Shrine for war dead, the Metropolitan Police Department said.

<a href="https://www.wionews.com/.../high-end-rebrand-makes-life-sweet-for-japans- ice-farmers-243768">Japan</a>'s neighbours see the shrine as a symbol of the country's former militarism, since it honours 14 Japanese leaders convicted by an Allied tribunal as war criminals, along with other war dead.

Prime Minister Shinzo Abe sent a ritual offering to the shrine on Thursday, the anniversary of Japan's World War Two surrender, but refrained from visiting in person.

Details such as the motives, address and occupation of the man arrested for property damage were unclear, a police official said.

No one was immediately available for comment at the Chinese embassy in Tokyo.

Japanese police on Monday arrested a man claiming to be Chinese for throwing a black ink-like liquid on a curtain at one of the buildings of Tokyo's Yasukuni Shrine for war dead, the Metropolitan Police Department said.

Japanese police on Monday arrested a man claiming to be Chinese for throwing a black ink-like liquid on a curtain at one of the buildings of Tokyo's Yasukuni Shrine for war dead, the Metropolitan Police Department said. Japan's neighbours see the shrine as a symbol of the country's former militarism, since it honours 14 Japanese leaders convicted by an Allied tribunal as war criminals, along with other war dead. Prime Minister Shinzo Abe sent a ritual offering to the shrine on Thursday, the anniversary of Japan's World War Two surrender, but refrained from visiting in person. Details such as the motives, address and occupation of the man arrested for property damage were unclear, a police official said. No one was immediately available for comment at the Chinese embassy in Tokyo.

Japan shrine for war dead vandalised by man claiming to be Chinese

In a mountainous area north of Tokyo, a priest blows a conch shell as Yuichiro Yamamoto bows and thanks to the nature gods for this year's "good harvest": natural ice.

In a mountainous area north of Tokyo, a priest blows a conch shell as Yuichiro Yamamoto bows and thanks to the nature gods for this year's "good harvest": natural ice. Yamamoto is one of Japan's few remaining "ice farmers", eschewing the ease of refrigeration for open-air pools to create a product that is sold to high-end shaved ice shops in trendy Tokyo districts. His trade had all but disappeared in recent decades, and the shaved ice or kakigori that is popular throughout Japan in summer had been produced with cheap machine-made ice. But reinventing natural-made ice as a high-end artisanal product has helped revive the sector and save his firm. "When I started making natural ice, I wondered how I should market it. I thought I needed to transform kakigori," Yamamoto tells AFP at his ice-making field in the town of Nikko, north of Tokyo. Yamamoto took over a traditional ice-making business 13 years ago in Nikko, where he also runs a leisure park. At the time, shaved ice cost just 200 yen ($2) in the local area and Yamamoto, who was fascinated by traditional ice-making, knew he couldn't make ends meet. "My predecessor used to sell ice at the same price as the fridge-made one, which can be manufactured easily anytime throughout the year," the 68-year-old says. The situation made it "impossible" to compete he explains, as producing natural ice is labour intensive. Instead, he decided to transform cheap kakigori into a luxury dessert, made with his natural ice and high-grade fruit puree rather than artificially flavoured syrup. After months of research, he began producing his small batches of artisanal kakigori. A gruelling process "I put the price tag at 800 yen for a bowl of kakigori. I also priced the ice at 9,000 yen per case, which is six times more than my predecessor," he says. At first, there were days he threw away tonnes of ice because he could not find clients. But one day buyers from the prestigious Mitsukoshi department store discovered his product and began stocking it, turning around his fortunes. Kakigori dates back to the Heian Period (794-1185) when aristocratic court culture flourished in the then-capital of Kyoto. It was a rare delicacy reserved for the rich, with the ice naturally made and stored in mountainside holes covered with silver sheets. It was only after 1883 when the first ice-making factory was built in Tokyo, that ordinary person could taste the dessert. With the development of ice-making machines, the number of traditional ice makers dropped to fewer than 10 nationwide. The story is one familiar to many traditional Japanese crafts and foodstuffs with expensive and labour-intensive products losing ground as cheaper, machine-driven versions become available. And making ice naturally is a gruelling task. The season begins in the autumn when workers prepare a swimming-pool-like pit by cultivating the soil and pouring in spring water. Thin frozen initial layers are scraped away along with dirt and fallen leaves. The ice-making begins in earnest in the winter, when water is poured in to freeze solid, but it must be carefully protected. Producers regularly scrape off the snow that can slow the freezing process. "I once spent 16 hours non-stop removing snow," Yamamoto recalls. Cult product And rain too can ruin the product, causing cracks that mean the whole batch has to be discarded. "I check the weather forecast 10 times a day," Yamamoto laughs. Once the ice is 14 centimetres (5.5 inches) thick, which takes at least two weeks, workers begin cutting out rectangular blocks. Each block, which weighs about 40 kilogrammes (88 pounds), is glided into an ice room filled with sawdust on a long bamboo slide. The blocks are sold to some of Tokyo's high-end shaved ice shops as well as department stores. In the Yanaka district, more than 1,000 people queue up every day for a taste of kakigori made with natural ice produced by another ice-maker from Nikko. Owner Koji Morinishi says the naturally made ice has a texture that is different from machine-made products. "It feels very different when you shave it. It's harder because it's frozen over a long period," explains Morinishi. "It's easier to shave thin if the ice is hard. If not hard, it dissolves too quickly." Morinishi himself struggled when he first opened the kakigori shop but has gradually built a cult following for his desserts topped with purees of mango, watermelon, peach or other fruit. And Yamamoto's firm has seen demand soar he now harvests 160 tons a year and knows two new producers who have entered the market. He says: "This business has become attractive and the ice makers are all busy."

High-end rebrand makes life sweet for Japan's 'ice farmers'

North Korea launched at least two short-range ballistic missiles on Friday which was its 6th launch within a month. Otherside, Japan's Shinzo Abe said that no threat to security from North Korea projectile launch. Watch this video to know more.

6th launch of N. Korea within a month, Japan's Abe says no threat to security from projectile launch

<a href="https://www.wionews.com/.../over-400000-advised-evacuating-as-the-storm- bears-down-on-japan-243089">Japan </a>insisted Friday it no longer hunts endangered sei whales in international waters but faced accusations of still violating a wildlife treaty by allowing commercialisation of meat from past catches.

The standing committee of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) last October found Japan in breach of the treaty and ordered it to rectify the situation or face trade sanctions.

The elected panel, which handles the treaty's compliance and enforcement, dismissed Japan's claims that the cull since 2002 of some 1,500 North Pacific sei whales was only scientifically motivated.

Instead, it found that the hunt was primarily commercially motivated, and thus constituted international trade in a protected species and a clear violation of the treaty.

Japan told the committee meeting in Geneva on Friday that it no longer permits taking sei whales on the high sea and is therefore in compliance with CITES.

"This matter should be considered closed," a member of the Japanese delegation said, &nbsp;a day before a global conference of all 183 countries that have signed the treaty kicks off in Geneva.

But committee members from a range of countries, including the European Union, Israel, Niger, Peru and the United States, disagreed.

Many voiced outrage&nbsp;at the continued sale of meat and blubber from the whales deemed to have been illegally culled and imported over a 16-year period.

According to conservationists, 1,500 tonnes of meat from 131 sei whales killed in 2018 alone have been commercialised in Japan, and sei whale meat remains widely available in shops and restaurants in the country.

'Truly shocking'&nbsp;

"It is truly shocking," the representative from Niger told the meeting, maintaining that when illegal international trade is detected in other endangered species, such as elephant ivory, the stockpiles are ordered confiscated and destroyed.&nbsp;

The European Union representative agreed, pointing to article 8 of the convention, which he said "requires ... confiscating specimens traded, or in this case introduced from the sea, in violation of CITES."

Japan meanwhile stressed that it had immediately followed the committee's October ruling, but baulked at the idea it should be applied retroactively.

In the end, the committee ordered Japan to report back on its use of the sei whale stockpiles, but put off the thorny discussion on confiscation until next year.

While Japan remains bound by CITES &nbsp;international wildlife trade restrictions, it has withdrawn from the International Whaling Commission (IWC), enabling it last month to resume commercial whaling in its territorial waters for the first time in decades.

It has allotted itself a hunting quota of 227 of the giant sea mammals this year, including 25 sei whales.

Japan insisted Friday it no longer hunts endangered sei whales in international waters but faced accusations of still violating a wildlife treaty by allowing commercialisation of meat from past catches.

Japan insisted Friday it no longer hunts endangered sei whales in international waters but faced accusations of still violating a wildlife treaty by allowing commercialisation of meat from past catches. The standing committee of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) last October found Japan in breach of the treaty and ordered it to rectify the situation or face trade sanctions. The elected panel, which handles the treaty's compliance and enforcement, dismissed Japan's claims that the cull since 2002 of some 1,500 North Pacific sei whales was only scientifically motivated. Instead, it found that the hunt was primarily commercially motivated, and thus constituted international trade in a protected species and a clear violation of the treaty. Japan told the committee meeting in Geneva on Friday that it no longer permits taking sei whales on the high sea and is therefore in compliance with CITES. "This matter should be considered closed," a member of the Japanese delegation said, a day before a global conference of all 183 countries that have signed the treaty kicks off in Geneva. But committee members from a range of countries, including the European Union, Israel, Niger, Peru and the United States, disagreed. Many voiced outrage at the continued sale of meat and blubber from the whales deemed to have been illegally culled and imported over a 16-year period. According to conservationists, 1,500 tonnes of meat from 131 sei whales killed in 2018 alone have been commercialised in Japan, and sei whale meat remains widely available in shops and restaurants in the country. 'Truly shocking' "It is truly shocking," the representative from Niger told the meeting, maintaining that when illegal international trade is detected in other endangered species, such as elephant ivory, the stockpiles are ordered confiscated and destroyed. The European Union representative agreed, pointing to article 8 of the convention, which he said "requires ... confiscating specimens traded, or in this case introduced from the sea, in violation of CITES." Japan meanwhile stressed that it had immediately followed the committee's October ruling, but baulked at the idea it should be applied retroactively. In the end, the committee ordered Japan to report back on its use of the sei whale stockpiles, but put off the thorny discussion on confiscation until next year. While Japan remains bound by CITES international wildlife trade restrictions, it has withdrawn from the International Whaling Commission (IWC), enabling it last month to resume commercial whaling in its territorial waters for the first time in decades. It has allotted itself a hunting quota of 227 of the giant sea mammals this year, including 25 sei whales.

Japan under pressure over past hunting of endangered whales

Japan hit by powerful storm, 720 domestic flights cancelled in Western Japan cities. Watch video to know more.

Japan hit by powerful storm, 720 domestic flights cancelled in Western Japan cities

Many of the world's top triathletes battled the heat and humidity in Tokyo on Friday (August 16) at the International Triathlon Union (ITU) Olympic qualifying race, which doubled as a test event for the Games.

Triathletes happy to survive battle with humidity at Tokyo 2020 test event

<a href="https://www.wionews.com/world/torrential-rains-kill-at-least-81-in-western-japan-150012">Heavy rains lashed parts of western Japan</a> on Thursday as tropical storm Krosa bore down on the country, forcing the cancellations of hundreds of flights and trains as authorities advised more than 400,000 people to evacuate.

Krosa, a Khmer word for crane, was heading northeast towards the smallest Japanese main island of Shikoku with sustained winds of 108 km per hour (67 mph) and gusts up to 162 km per hour (100 mph), with landfall likely in the early afternoon, the Japan Meteorological Agency said.

Authorities warned that the total rainfall in some areas could surpass 1,000 mm (39 inches) over 24 hours to Friday morning and advised some 446,000 people to evacuate, but as of Thursday morning, there were no reports of major flooding and only a handful of minor injuries.

"Given the predictions of record rains and high winds, we'd like to ask people in the affected areas to avoid going outside if they can and to make early preparations to evacuate if needed according to directions of the local authorities," Yoshihide Suga, chief cabinet secretary, told a news conference.

Eighteen people, including a baby, became trapped on Wednesday when a river rose suddenly as they were having a barbeque.

None were injured and preparations for their rescue were being made on Thursday morning.

The Shinkansen bullet train service was halted in one part of western Japan, as were all local train lines, and several highways were closed.

A total of 679 flights were cancelled, NHK national television said, snarling travel plans for thousands at the end of Japan's main summer holiday period.

"My flight got cancelled today, and without any trains running, there isn't anything I can do," one man told NHK.&nbsp;

More than 200 people died in torrential rains and flooding in parts of western Japan in 2018, areas that could also be hit by severe rains from Krosa.

Heavy rains lashed parts of western Japan on Thursday as tropical storm Krosa bore down on the country, forcing the cancellations of hundreds of flights and trains as authorities advised more than 400,000 people to evacuate.

Heavy rains lashed parts of western Japan on Thursday as tropical storm Krosa bore down on the country, forcing the cancellations of hundreds of flights and trains as authorities advised more than 400,000 people to evacuate. Krosa, a Khmer word for crane, was heading northeast towards the smallest Japanese main island of Shikoku with sustained winds of 108 km per hour (67 mph) and gusts up to 162 km per hour (100 mph), with landfall likely in the early afternoon, the Japan Meteorological Agency said. Authorities warned that the total rainfall in some areas could surpass 1,000 mm (39 inches) over 24 hours to Friday morning and advised some 446,000 people to evacuate, but as of Thursday morning, there were no reports of major flooding and only a handful of minor injuries. "Given the predictions of record rains and high winds, we'd like to ask people in the affected areas to avoid going outside if they can and to make early preparations to evacuate if needed according to directions of the local authorities," Yoshihide Suga, chief cabinet secretary, told a news conference. Eighteen people, including a baby, became trapped on Wednesday when a river rose suddenly as they were having a barbeque. None were injured and preparations for their rescue were being made on Thursday morning. The Shinkansen bullet train service was halted in one part of western Japan, as were all local train lines, and several highways were closed. A total of 679 flights were cancelled, NHK national television said, snarling travel plans for thousands at the end of Japan's main summer holiday period. "My flight got cancelled today, and without any trains running, there isn't anything I can do," one man told NHK. More than 200 people died in torrential rains and flooding in parts of western Japan in 2018, areas that could also be hit by severe rains from Krosa.

Over 400,000 advised evacuating as the storm bears down on Japan

China's threat to impose countermeasures in retaliation for the latest US tariffs knocked stocks sprawling on Thursday, checking earlier attempts to recover from a rout sparked by fears of a world recession.

China's threat to impose countermeasures in retaliation for the latest US tariffs knocked stocks sprawling on Thursday, checking earlier attempts to recover from a rout sparked by fears of a world recession. Wall Street futures signalled another weak open for US stocks, which fell 3 per cent on Wednesday after long-dated bond yields dropped, raising fears the US economy was hurtling towards recession and dragging world stocks with it. Expectations that the US Federal Reserve and other central banks would respond robustly to the recession warning helped world stocks to steady earlier. But that recovery was cut short by the latest rhetoric from Beijing "The only game in town is the central banks, hence the bond markets are rallying," said Peter Schaffrik, global macro strategist at RBC Capital Markets. "We have regional bonfires in Hong Kong, Argentina, Japan against South Korea, and none of these is going away easily; everyone is not necessarily strong enough to cause trouble." Recession fears grew on Wednesday after yields on 10-year Treasury bonds dropped to less than two-year rates for the first time in 12 years when the same yield curve inversion presaged the 2008 recession. The curve has inverted before every recession in the past 50 years and sent a false signal just once. The latest inversion has since reversed, albeit marginally, and yields on 30-year Treasuries rose off the record 1.965 per cent low reached in Asian trade. But they are still down 60 basis points in just 12 sessions. Markets appear to be pinning their hopes, yet again, on central banks, betting that scale of the scare would alarm policymakers, especially at the Fed. Money markets price in a growing chance the Fed will cut rates by half a point at its September meeting. "We have seen stocks trading very poorly as a result of the yield curve inversion, so that will be flashing some additional warning lights for the Fed that they have to do more," said Andrea Iannelli, investment director at Fidelity International. "The only question is, can the Fed out-dove the market? At the very least they will have to match market expectations in the short term." The Chinese comments sent a pan-European equity index down half a per cent and markets in London and Frankfurt lost over 1 per cent. Earlier, Asian shares fell 0.5 per cent. Japan's Nikkei shed 1.2 per cent as the recent yen surge hit the export-heavy market. German 30-year yields are below minus 0.2 per cent for the first time. Ten-year yields touched a record low of minus 0.67 per cent. The growth worries come amid economic stress in Argentina and some other emerging markets, fears of Chinese military intervention in Hong Kong and trade tensions that show no sign of abating. "Hoping for the best on the policy front but positioning for the worst on the economic backdrop seems to be the flavour of the day," said Stephen Innes, a managing partner at Valour Markets. "The Fed, now out of necessity alone, will need to adjust policy much more profoundly than they expected." Not everyone buys the argument that recession is inevitable bond markets have been distorted by a decade of multi-trillion-dollar central bank stimulus. Mark Haefele, chief investment officer at UBS Global Wealth Management, said how long the curve remained inverted, and to what extent, was crucial. "If Fed rate cuts successfully steepen the curve comfortably into positive territory, this brief curve inversion may be a premature recession signal. Neither does a yield curve inversion indicate it is time to sell equities," Haefele said. He noted that since 1975, every curve inversion had been followed by an S&P 500 rally that lasted almost two years and delivered average gains around 40 per cent. Safety plays As the Sino-US trade war escalates, long-dated bond yields have fallen across the developed world, flattening yield curves in what is considered a clear signal of a worsening growth outlook. What sent the US curve over the brink into inversion was German data on Wednesday that showed the economy had contracted in the quarter to June. That came on the heels of dire Chinese data for July. The British yield curve also inverted. The German curve is at its flattest since 2008. Oil prices plunged with Brent crude losing another 2 per cent to $58.4 a barrel, after shedding 3 per cent overnight. Safe-haven gold was up 0.3 per cent at $1,520 per ounce, just off recent six-year highs. The yen was flat at 105.8 to the dollar, having earlier traded at 106.74. The currency has gained against the dollar for eight of the past 10 sessions. Excluding a mini-crash episode in January, it recently hit 17-month highs.

Global Markets: China's trade threats deal a fresh blow to world stock

A 400-year-old temple in Japan is attempting to hot-wire interest in Buddhism with a robotic priest it believes will change the face of the religion -- despite critics comparing the android to "Frankenstein's monster."

The android Kannon, based on the Buddhist deity of mercy, preaches sermons at Kodaiji temple in Kyoto, and its human colleagues predict that with artificial intelligence it could one day acquire unlimited wisdom.

"This robot will never die, it will just keep updating itself and evolving," priest Tensho Goto told AFP.

"That's the beauty of a robot. It can store knowledge forever and limitlessly.&nbsp;

"With AI we hope it will grow in wisdom to help people overcome even the most difficult troubles. It's changing Buddhism," added Goto.

The adult-sized robot began service earlier this year and is able to move its torso, arms and head.

But only its hands, face and shoulders are covered in silicone to replicate human skin.

Clasping its hands together in prayer and speaking in soothing tones, the rest of the droid's mechanical parts are clearly visible.

Wiring and blinking lights fill the cranial cavity of its open-top head and snake around its gender-neutral, aluminium body.

A tiny video camera installed in the left eye completes an eerie, cyborg-like frame seemingly lifted straight out of a dystopian Hollywood sci-fi thriller.&nbsp;

Developed at a cost of almost $1m in a joint project between the Zen temple and renowned robotics professor Hiroshi Ishiguro at Osaka University, the humanoid -- called Mindar -- teaches about compassion and of the dangers of desire, anger and ego.

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/playing-god-japan-temple-puts-faith-in-robot-priest-242934/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

"You cling to a sense of selfish ego," it warns worshippers. "Worldly desires are nothing other than a mind lost at sea."

No 'fuddy-duddy' priest&nbsp;

With religion's influence on daily life flat-lining in Japan, Goto hopes Kodaiji's robot priest will be able to reach younger generations in a way traditional monks can't.

"Young people probably think a temple is a place for funerals or weddings," he said, trying to explain the disconnect with religion.

"It might be difficult to relate to fuddy-duddy priests like me, but hopefully the robot is a fun way to bridge that gap. We want people to see the robot and think about the essence of Buddhism."

Goto insisted, however, that Mindar was no gimmick to boost income from tourists.

"This robot teaches us ways to overcome pain," he said. "It is here to save anyone who seeks help."

The pious droid delivers sermons from the Heart Sutras in Japanese, with translations in English and Chinese projected onto a screen for foreign visitors.

"The goal of Buddhism is to ease suffering," said Goto. "Modern society brings other kinds of stress, but the goal hasn't really changed for over 2,000 years."

A recent Osaka University survey showed a wide range of feedback from those who have seen the android at work, with many expressing surprise at how "human" it looked.

"I felt a warmth you wouldn't feel from a regular machine," said one of those polled.

"At first it felt a little unnatural, but the android was easy to follow," replied another temple-goer. "It made me think deeply about right and wrong."&nbsp;

Others were less convinced, some insisting the robot was too "fake".

"The sermon felt uncomfortable," complained one worshipper. "The robot's expressions felt too engineered."

'Frankenstein's monster'

Kodaiji temple has also faced criticism -- mostly from foreigners -- for tampering with the sanctity of religion.

"Westerners have been the most upset by the robot," said Goto, noting largely positive feedback from Japanese visitors.

"It could be the influence of the Bible, but Westerners have compared it to Frankenstein's monster," he added.

"Japanese people don't possess any prejudices against robots. We were brought up on comics where robots are our friends. Westerners think differently."

Goto denies accusations that Kodaiji, recently visited by French President Emmanuel Macron, is guilty of sacrilege.

"Obviously a machine doesn't have a soul," he said.&nbsp;

"But Buddhist faith isn't about believing in God. It's about following Buddha's path, so it doesn't matter whether it is represented by a machine, a scrap of iron or a tree."

The temple insists the deity of mercy is able to transform itself at will and that an android is merely the latest incarnation.

"Artificial intelligence has developed to such an extent we thought it logical for the Buddha to transform into a robot," said Goto.

"We hope it will touch people's hearts and minds."

A 400-year-old temple in Japan is attempting to hot-wire interest in Buddhism with a robotic priest it believes will change the face of the religion -- despite critics comparing the android to "Frankenstein's monster.

A 400-year-old temple in Japan is attempting to hot-wire interest in Buddhism with a robotic priest it believes will change the face of the religion -- despite critics comparing the android to "Frankenstein's monster." The android Kannon, based on the Buddhist deity of mercy, preaches sermons at Kodaiji temple in Kyoto, and its human colleagues predict that with artificial intelligence it could one day acquire unlimited wisdom. "This robot will never die, it will just keep updating itself and evolving," priest Tensho Goto told AFP. "That's the beauty of a robot. It can store knowledge forever and limitlessly. "With AI we hope it will grow in wisdom to help people overcome even the most difficult troubles. It's changing Buddhism," added Goto. The adult-sized robot began service earlier this year and is able to move its torso, arms and head. But only its hands, face and shoulders are covered in silicone to replicate human skin. Clasping its hands together in prayer and speaking in soothing tones, the rest of the droid's mechanical parts are clearly visible. Wiring and blinking lights fill the cranial cavity of its open-top head and snake around its gender-neutral, aluminium body. A tiny video camera installed in the left eye completes an eerie, cyborg-like frame seemingly lifted straight out of a dystopian Hollywood sci-fi thriller. Developed at a cost of almost $1m in a joint project between the Zen temple and renowned robotics professor Hiroshi Ishiguro at Osaka University, the humanoid -- called Mindar -- teaches about compassion and of the dangers of desire, anger and ego. "You cling to a sense of selfish ego," it warns worshippers. "Worldly desires are nothing other than a mind lost at sea." No 'fuddy-duddy' priest With religion's influence on daily life flat-lining in Japan, Goto hopes Kodaiji's robot priest will be able to reach younger generations in a way traditional monks can't. "Young people probably think a temple is a place for funerals or weddings," he said, trying to explain the disconnect with religion. "It might be difficult to relate to fuddy-duddy priests like me, but hopefully the robot is a fun way to bridge that gap. We want people to see the robot and think about the essence of Buddhism." Goto insisted, however, that Mindar was no gimmick to boost income from tourists. "This robot teaches us ways to overcome pain," he said. "It is here to save anyone who seeks help." The pious droid delivers sermons from the Heart Sutras in Japanese, with translations in English and Chinese projected onto a screen for foreign visitors. "The goal of Buddhism is to ease suffering," said Goto. "Modern society brings other kinds of stress, but the goal hasn't really changed for over 2,000 years." A recent Osaka University survey showed a wide range of feedback from those who have seen the android at work, with many expressing surprise at how "human" it looked. "I felt a warmth you wouldn't feel from a regular machine," said one of those polled. "At first it felt a little unnatural, but the android was easy to follow," replied another temple-goer. "It made me think deeply about right and wrong." Others were less convinced, some insisting the robot was too "fake". "The sermon felt uncomfortable," complained one worshipper. "The robot's expressions felt too engineered." 'Frankenstein's monster' Kodaiji temple has also faced criticism -- mostly from foreigners -- for tampering with the sanctity of religion. "Westerners have been the most upset by the robot," said Goto, noting largely positive feedback from Japanese visitors. "It could be the influence of the Bible, but Westerners have compared it to Frankenstein's monster," he added. "Japanese people don't possess any prejudices against robots. We were brought up on comics where robots are our friends. Westerners think differently." Goto denies accusations that Kodaiji, recently visited by French President Emmanuel Macron, is guilty of sacrilege. "Obviously a machine doesn't have a soul," he said. "But Buddhist faith isn't about believing in God. It's about following Buddha's path, so it doesn't matter whether it is represented by a machine, a scrap of iron or a tree." The temple insists the deity of mercy is able to transform itself at will and that an android is merely the latest incarnation. "Artificial intelligence has developed to such an extent we thought it logical for the Buddha to transform into a robot," said Goto. "We hope it will touch people's hearts and minds."

Japan temple puts faith in robot priest, faces criticism

Japan is "in the dark" as to why South Korea has downgraded Tokyo's trading status, its trade minister said Tuesday, amid an intensifying trade war between the two neighbours and US allies.

South Korea on Monday created a new category of trading status for Japan, with Trade Minister Sung Yun-mo saying it was "hard to work closely with a country that frequently violates the basic rules."

South Korea's list of trade partners was divided into two groups, those who are members of the world's top four export control agreements and those who are not.

But Seoul said Monday it had created a new category for countries that had signed the four pacts "but operate an export control system that violates international norms".

Japan is the only country in the new category.

The move left officials in Tokyo bemused.

"After watching the South Korean press conference, we remain completely in the dark as to the grounds on which it claims that Japan's export control system fails to comply with (international) principles," tweeted Trade Minister Hiroshige Seko on Tuesday.

Monday's move is the latest in a series of tit-for-tat measures between the two neighbours.

On July 4, Japan tightened its rules on awarding official export permits for South Korea, meaning that screening applications could take up to 90 days.

Japan has also announced it will remove South Korea from a list of favoured export partners from August 28.

South Korea quickly fired back, rescinding Japan's favoured export partner status and saying it would also review a military information agreement.

The dispute has raised concerns over the potential implications for their security cooperation in the face of North Korean missile tests, and the possible impact on global supply chains.

Despite mutual criticism over policies linked to wartime history, both Japan and South Korea insist these measures have been introduced on national security grounds.

South Korea is the fifth-largest importer of Japanese goods, while petroleum products, iron and steel products, and electrical machinery including semiconductors are the major South Korean imports to Japan, according to finance ministry trade data.

"Although the de-listing does not come as a surprise, it nevertheless illustrates that the bilateral tensions between Japan and South Korea show no sign of abating," said Tobias Harris, an expert at Teneo consultants, in a note on Tuesday.

Japan is "in the dark" as to why South Korea has downgraded Tokyo's trading status, its trade minister said Tuesday, amid an intensifying trade war between the two neighbours and US allies.

Japan is "in the dark" as to why South Korea has downgraded Tokyo's trading status, its trade minister said Tuesday, amid an intensifying trade war between the two neighbours and US allies. South Korea on Monday created a new category of trading status for Japan, with Trade Minister Sung Yun-mo saying it was "hard to work closely with a country that frequently violates the basic rules." South Korea's list of trade partners was divided into two groups, those who are members of the world's top four export control agreements and those who are not. But Seoul said Monday it had created a new category for countries that had signed the four pacts "but operate an export control system that violates international norms". Japan is the only country in the new category. The move left officials in Tokyo bemused. "After watching the South Korean press conference, we remain completely in the dark as to the grounds on which it claims that Japan's export control system fails to comply with (international) principles," tweeted Trade Minister Hiroshige Seko on Tuesday. Monday's move is the latest in a series of tit-for-tat measures between the two neighbours. On July 4, Japan tightened its rules on awarding official export permits for South Korea, meaning that screening applications could take up to 90 days. Japan has also announced it will remove South Korea from a list of favoured export partners from August 28. South Korea quickly fired back, rescinding Japan's favoured export partner status and saying it would also review a military information agreement. The dispute has raised concerns over the potential implications for their security cooperation in the face of North Korean missile tests, and the possible impact on global supply chains. Despite mutual criticism over policies linked to wartime history, both Japan and South Korea insist these measures have been introduced on national security grounds. South Korea is the fifth-largest importer of Japanese goods, while petroleum products, iron and steel products, and electrical machinery including semiconductors are the major South Korean imports to Japan, according to finance ministry trade data. "Although the de-listing does not come as a surprise, it nevertheless illustrates that the bilateral tensions between Japan and South Korea show no sign of abating," said Tobias Harris, an expert at Teneo consultants, in a note on Tuesday.

Japan 'in the dark' over South Korea trade controls: Minister Sung Yun-mo

Sri Lanka could lose access to global debt markets if a new government shifts away from the country's current fiscal policy that's aimed at shoring up the economy and managing inflation, a central bank official said on Friday.

<a href="https://www.wionews.com/world/sri-lanka-president-vetoes-military-deal-with-washington-that-allows-us-troops-free-access-to-islands-ports-233571">The Indian Ocean island nation</a> is preparing for the presidential election later this year and a parliament election in 2020, which is causing uncertainty among investors over potential policy shifts.

'The question is whether any new government coming after elections will move in a different direction compared to what we have been, or rather this government, has been doing for the last four years,' Nandalal Weerasinghe, Senior Deputy Governor at the Central Bank of Sri Lanka, told Reuters in an interview on Friday.

'If anyone tries to move away from this fiscal, macro-economic stability, they will not have access to global markets,' he said.

The economy cannot afford to lose access to global markets as it has to repay more than $16 billion in foreign loans over the next four years.

'Anyone who comes to power will have to make sure we have access to a global investor base so that we can meet payments in the next couple of years through market borrowings,' Weerasinghe said.

During Prime Minister Ranil Wickremesinghe's government, the central bank has tightened monetary policies to back the administration's overall goal of fiscal consolidation, an effort supported by a $1.5 billion loan from the International Monetary Fund.

Though Wickremesinghe is widely seen as a business-friendly leader, critics say his economic politics have stunted economic growth.

The central bank has introduced an inflation-targeting monetary policy and a flexible exchange rate transformed short-term high-cost borrowings to long-term lower-cost ones and reduced the outflow of foreign exchange for luxury goods.

SLOWED GROWTH

Those measures contributed to pulling down the economic growth rate in 2018 to an 18-year low of 3.2 per cent. A power tussle in 2018 for the prime minister's job and this year's Easter Islamist militant bombings, which killed more than 250 people, further weigh on the economy.

Weerasinghe of the central bank said proposed changes to monetary policy law, expected to win parliament approval soon, will help bolster the central bank's independence.

'Already there's central bank independence in the current law, and we are now proposing a new monetary act which will strengthen the central bank's independence as well as accountability to the public, to the parliament.'

Weerasinghe forecast 3 per cent growth this year.

In May, the central bank reduced the key interest rates by 50 basis points to boost credit growth and the economy.

There was still room to reduce market interest rates, Weerasinghe said.

'I don't see any reason to tighten at this point.'

He also said the central bank is in advance discussions to borrow $500 million from Japan via a bond sale this year.

Sri Lanka could lose access to global debt markets if a new government shifts away from the country's current fiscal policy that's aimed at shoring up the economy and managing inflation, a central bank official said on Friday.

Sri Lanka could lose access to global debt markets if a new government shifts away from the country's current fiscal policy that's aimed at shoring up the economy and managing inflation, a central bank official said on Friday. The Indian Ocean island nation is preparing for the presidential election later this year and a parliament election in 2020, which is causing uncertainty among investors over potential policy shifts. 'The question is whether any new government coming after elections will move in a different direction compared to what we have been, or rather this government, has been doing for the last four years,' Nandalal Weerasinghe, Senior Deputy Governor at the Central Bank of Sri Lanka, told Reuters in an interview on Friday. 'If anyone tries to move away from this fiscal, macro-economic stability, they will not have access to global markets,' he said. The economy cannot afford to lose access to global markets as it has to repay more than $16 billion in foreign loans over the next four years. 'Anyone who comes to power will have to make sure we have access to a global investor base so that we can meet payments in the next couple of years through market borrowings,' Weerasinghe said. During Prime Minister Ranil Wickremesinghe's government, the central bank has tightened monetary policies to back the administration's overall goal of fiscal consolidation, an effort supported by a $1.5 billion loan from the International Monetary Fund. Though Wickremesinghe is widely seen as a business-friendly leader, critics say his economic politics have stunted economic growth. The central bank has introduced an inflation-targeting monetary policy and a flexible exchange rate transformed short-term high-cost borrowings to long-term lower-cost ones and reduced the outflow of foreign exchange for luxury goods. SLOWED GROWTH Those measures contributed to pulling down the economic growth rate in 2018 to an 18-year low of 3.2 per cent. A power tussle in 2018 for the prime minister's job and this year's Easter Islamist militant bombings, which killed more than 250 people, further weigh on the economy. Weerasinghe of the central bank said proposed changes to monetary policy law, expected to win parliament approval soon, will help bolster the central bank's independence. 'Already there's central bank independence in the current law, and we are now proposing a new monetary act which will strengthen the central bank's independence as well as accountability to the public, to the parliament.' Weerasinghe forecast 3 per cent growth this year. In May, the central bank reduced the key interest rates by 50 basis points to boost credit growth and the economy. There was still room to reduce market interest rates, Weerasinghe said. 'I don't see any reason to tighten at this point.' He also said the central bank is in advance discussions to borrow $500 million from Japan via a bond sale this year.

Sri Lanka risks losing debt market access if future government policy changes

<a href="https://www.wionews.com/world/us-senate-confirms-mark-esper-as-secretary-of-defense-238023">US&nbsp;Defence&nbsp;Secretary&nbsp;Mark Esper</a> met with senior&nbsp;South&nbsp;Korean leaders on Friday amid a series of&nbsp;regional&nbsp;challenges&nbsp;ranging from a bitter trade row between Seoul and Tokyo to the cost of&nbsp;US troops stationed in&nbsp;South&nbsp;Korea.

Esper, on his first international trip since being confirmed as&nbsp;defence&nbsp;secretary, arrived in&nbsp;South&nbsp;Korea&nbsp;on Thursday evening amid an escalating trade feud between two of Washington's main Asian allies.

While the trade issue,<a href="https://www.wionews.com/world/south-korea-warns-japan-of-security-pact-risk-calls-for-cooling-off-in-trade-row-240488"> which threatens&nbsp;regional intelligence sharing,</a> came up in his meetings in Seoul, Esper reiterated the importance of the&nbsp;South&nbsp;Korean US alliance and said the allies would continue to coordinate on North&nbsp;Korea.

In his opening remarks of the meeting with Esper,&nbsp;<a href="https://www.wionews.com/world/north-korea-test-fired-same-type-of-missiles-in-may-seoul-223632">South&nbsp;Korean&nbsp;Defense&nbsp;Minister Jeong Kyeong-doo</a> said Japan's export restrictions against&nbsp;South&nbsp;Korea&nbsp;are "causing adverse effects on&nbsp;South&nbsp;Korea-Japan relations and security cooperation among&nbsp;South&nbsp;Korea, the&nbsp;US, and Japan".

South&nbsp;Korea&nbsp;has said it was exploring all options in a bitter trade dispute with Japan, including scrapping an intelligence-sharing pact.

The accord, the General Security of Military Information Agreement (GSOMIA), facilitates a three-way intelligence gathering with Washington, which is crucial in fending off North&nbsp;Korea's nuclear and missile threats. The deal is automatically renewed annually on Aug. 24.

Relations between&nbsp;South&nbsp;Korea&nbsp;and Japan are at their worst in decades, with the trade row rooted in a long-running dispute over compensation for&nbsp;South&nbsp;Koreans forced to work for Japanese firms during World War Two.

Esper arrived in Seoul a day after&nbsp;US President Donald Trump said&nbsp;South&nbsp;Korea&nbsp;agreed to 'pay a lot more' to shoulder the costs required for the upkeep of 28,500&nbsp;US troops in South&nbsp;Korea&nbsp;and that talks are underway to discuss&nbsp;the issue.

But a spokesman at&nbsp;South&nbsp;Korea's foreign ministry told reporters on Thursday that the negotiations have not yet begun, and a ministry official said on Friday that Esper did not mention the costs during his meeting with Foreign Minister Kang Kyung-Wha, according to Yonhap.

The trip comes after North&nbsp;Korea&nbsp;recently carried out a series of missile tests and with de-nuclearisation talks between the United States and North&nbsp;Korea&nbsp;stalled.

"At a time when the security environment is so severe, it is very meaningful to discuss&nbsp;the security situation on the&nbsp;Korean Peninsula and the&nbsp;South&nbsp;Korea-US alliance," Jeong said.

Noting that&nbsp;South&nbsp;Korea&nbsp;and the United States are working together to denuclearise North&nbsp;Korea, Jeong praised "President Trump's amazing imagination that transcends conventions" for bringing about his meeting with North&nbsp;Korean leader Kim Jong Un at the inter-Korean border in June.

On Tuesday, Esper said the United States would not overreact to the short-range missile launches by North&nbsp;Korea&nbsp;and would keep the door open to talks with Pyongyang. He also added that, despite complaints by North&nbsp;Korea, there was no plan to alter future joint military drills with Seoul.

Esper's visit comes as&nbsp;South&nbsp;Korean President Moon Jae-in tapped a seasoned diplomat as the new ambassador to Washington on Friday. 
South&nbsp;Korea&nbsp;is Esper's last stop on a trip that has also included&nbsp;visits&nbsp;to Australia, Japan, and Mongolia.

US Defence Secretary Mark Esper met with senior South Korean leaders on Friday amid a series of regional challenges ranging from a bitter trade row between Seoul and Tokyo to the cost of US troops stationed in South Korea.

US Defence Secretary Mark Esper met with senior South Korean leaders on Friday amid a series of regional challenges ranging from a bitter trade row between Seoul and Tokyo to the cost of US troops stationed in South Korea. Esper, on his first international trip since being confirmed as defence secretary, arrived in South Korea on Thursday evening amid an escalating trade feud between two of Washington's main Asian allies. While the trade issue, which threatens regional intelligence sharing, came up in his meetings in Seoul, Esper reiterated the importance of the South Korean US alliance and said the allies would continue to coordinate on North Korea. In his opening remarks of the meeting with Esper, South Korean Defense Minister Jeong Kyeong-doo said Japan's export restrictions against South Korea are "causing adverse effects on South Korea-Japan relations and security cooperation among South Korea, the US, and Japan". South Korea has said it was exploring all options in a bitter trade dispute with Japan, including scrapping an intelligence-sharing pact. The accord, the General Security of Military Information Agreement (GSOMIA), facilitates a three-way intelligence gathering with Washington, which is crucial in fending off North Korea's nuclear and missile threats. The deal is automatically renewed annually on Aug. 24. Relations between South Korea and Japan are at their worst in decades, with the trade row rooted in a long-running dispute over compensation for South Koreans forced to work for Japanese firms during World War Two. Esper arrived in Seoul a day after US President Donald Trump said South Korea agreed to 'pay a lot more' to shoulder the costs required for the upkeep of 28,500 US troops in South Korea and that talks are underway to discuss the issue. But a spokesman at South Korea's foreign ministry told reporters on Thursday that the negotiations have not yet begun, and a ministry official said on Friday that Esper did not mention the costs during his meeting with Foreign Minister Kang Kyung-Wha, according to Yonhap. The trip comes after North Korea recently carried out a series of missile tests and with de-nuclearisation talks between the United States and North Korea stalled. "At a time when the security environment is so severe, it is very meaningful to discuss the security situation on the Korean Peninsula and the South Korea-US alliance," Jeong said. Noting that South Korea and the United States are working together to denuclearise North Korea, Jeong praised "President Trump's amazing imagination that transcends conventions" for bringing about his meeting with North Korean leader Kim Jong Un at the inter-Korean border in June. On Tuesday, Esper said the United States would not overreact to the short-range missile launches by North Korea and would keep the door open to talks with Pyongyang. He also added that, despite complaints by North Korea, there was no plan to alter future joint military drills with Seoul. Esper's visit comes as South Korean President Moon Jae-in tapped a seasoned diplomat as the new ambassador to Washington on Friday. South Korea is Esper's last stop on a trip that has also included visits to Australia, Japan, and Mongolia.

US defence secretary visits South Korea as the region faces myriad challenges

Japan has approved the shipment of a high-tech material to South Korea for the first time since imposing export curbs last month, but doubled down on political pressure and warned it could broaden restrictions on deliveries to its Asian neighbour.

Japan has approved the shipment of a high-tech material to South Korea for the first time since imposing export curbs last month, but doubled down on political pressure and warned it could broaden restrictions on deliveries to its Asian neighbour. The approval and subsequent warning illustrate how Tokyo is ready to up the ante in the diplomatic row and yet unwilling to fully cut off exports to South Korea. The dispute, rooted in their wartime past and exacerbated by the recent tightening of curbs on shipments of three high-tech components, has stoked nationalism and raised trade concerns. Relations between the two US allies worsened late last year as part of a decades-old dispute over compensation for forced labourers during Japan's occupation. South Korea has invoked its difficult history with Japan, which colonised the Korean peninsula during World War Two. "Usually, we don't announce each time we give export permission. However, the South Korean government has referred to our moves as an embargo on exports, which is unfair criticism," Japanese Industry Minister Hiroshige Seko told a briefing. It is the first time since the export curbs were introduced last month that Japan has allowed shipment of one of the three high-tech materials, he said. He was quick to add Tokyo would expand the curbs beyond the three specialised chemicals - fluorinated polyimides, photoresists and hydrogen fluoride - if there were any cases of "improper" use. Some of the chemicals, which are used to make smartphone displays and chips, can also be used in weapons. Japanese officials have cited unspecified security reasons for their export curbs. But they have pointed to an erosion of trust after South Korean court rulings last year ordered Japanese firms to compensate wartime forced labourers. Tokyo says the matter was settled by a 1965 treaty normalising bilateral ties. South Korea's president, Moon Jae-in, said on Thursday that tighter curbs would undermine Japan's international credibility and accused Tokyo of using its industrial advantage as a weapon against another country. "Even if there are any gains, it will be short-lived. In the end, it is a game without winners, where everyone, including Japan itself, becomes a victim," Moon said. White list The high-tech material that has been just cleared by Japan for export is EUV photoresists, South Korean Prime Minister Lee Nak-yon said. The chemical is crucial for Samsung's advanced contract chipmaking production. Samsung declined to comment. But it remains unclear if this approval from Tokyo signals a breakthrough in trade relations. "They approved only one out of a number of items," a South Korean senior trade ministry official pointed out. A presidential official said: "It doesn't mean that uncertainties have been completely removed for the other items." Japan has removed South Korea from the "white list" of countries with fast-track trade status, meaning some exporters may have to go through a lengthy permit application process to ship restricted items to South Korea. That covers a broad range of items, including those applicable to weapons production and machine tools. South Korea, which was scheduled to take a call on a plan to drop Japan from its "white list" on Thursday, has, however, put off the decision until further discussions. But the country has said it plans to tighten regulations on imported coal ashes, mostly from Japan, used to produce cement, and has proposed tax benefits for local firms in case they need to buy foreign chemical makers as Seoul tries to cut reliance on Japan. The curbs have also prompted concern among corporate Japan. "This situation benefits neither Japan nor South Korea," Masashi Oka, senior executive vice president at Nikon, told a recent briefing. "We strongly hope that both countries can return to normal economic activity as soon as possible." Given the curbs in place, Japan's approval to export the three materials could take up to 90 days, slowing shipments. Vital link The export curbs highlight how Japan controls a vital link in the global supply chain. It remains a major player in specialised chip components, even though it was overtaken as a chipmaker years ago by South Korea. At a New York event for a new flagship phone launch, the head of Samsung's mobile division told reporters he could not rule out a potential impact on the supply chain for smartphone production if the curbs dragged on for more than four months. Shares of Tokyo Ohka Kogyo rose 3.9% and Stella Chemifa surged 10.1% after the latest export approval. Tokyo Ohka Kogyo makes photoresists and Stella Chemifa produces hydrogen fluoride, both materials affected by the export curbs. South Korean chipmakers are hitting a dead-end in their quest to find alternatives for key Japanese materials that have been slapped with restrictions, raising the prospect of major disruption to their operations in coming months.

Japan greenlights first South Korea export since July curbs, but with a warning

The mayor of Hiroshima urged Japan to sign a landmark UN treaty banning nuclear weapons as the city Tuesday marked 74 years since being targeted in the <a href="https://www.wionews.com/world/hiroshima-marks-73rd-anniversary-of-atomic-bombing-in-wwii-157247">world's first atomic attack</a>.

Prime Minister Shinzo Abe led commemorations at the Peace Memorial Park in Hiroshima as residents offered silent prayers, lit candles and placed wreathes to remember those killed in the August 6, 1945 bombing.

And mayor Kazumi Matsui used the occasion to push the Abe administration to sign the UN treaty on the prohibition of nuclear weapons (TPNW), approved by more than 120 nations, but rejected by the US and other nuclear armed countries.

"I call on the government of the only country to experience a nuclear weapon in war to accede to the hibakusha's (atomic bomb victims) request that the TPNW be signed and ratified," said Matsui.

"I urge Japan's leaders to manifest the pacifism of the Japanese constitution by displaying leadership in taking the next step towards a world free from nuclear weapons."

The mayor urged world leaders to come to the city to see the memorial for themselves, amid expectations that Pope Francis will visit later this year.

The ongoing threat from atomic weapons in the region was demonstrated as nuclear-armed North Korea fired off two "unidentified projectiles" off its eastern coast -- the latest in a series of tests.

Meanwhile, the US and Russia failed to renew a<a href="https://www.wionews.com/world/us-formally-withdraws-from-1987-nuclear-pact-with-russia-mike-pompeo-240169"> Cold War-era nuclear pact </a>last week, triggering renewed fears of an arms race.

Japan remains the only country to have experienced atomic attack -- against Hiroshima and Nagasaki, days ahead of the country's surrender on August 15, 1945 to end World War II.

For his part, Abe reiterated a pledge to serve as a "bridge" between nations with and without nuclear weapons to rid the world of them.

"With help from both sides, I will patiently encourage them to engage in dialogue and I am resolved to lead international efforts towards this end," he said.&nbsp;

The mayor of Hiroshima urged Japan to sign a landmark UN treaty banning nuclear weapons as the city Tuesday marked 74 years since being targeted in the world's first atomic attack.

The mayor of Hiroshima urged Japan to sign a landmark UN treaty banning nuclear weapons as the city Tuesday marked 74 years since being targeted in the world's first atomic attack. Prime Minister Shinzo Abe led commemorations at the Peace Memorial Park in Hiroshima as residents offered silent prayers, lit candles and placed wreathes to remember those killed in the August 6, 1945 bombing. And mayor Kazumi Matsui used the occasion to push the Abe administration to sign the UN treaty on the prohibition of nuclear weapons (TPNW), approved by more than 120 nations, but rejected by the US and other nuclear armed countries. "I call on the government of the only country to experience a nuclear weapon in war to accede to the hibakusha's (atomic bomb victims) request that the TPNW be signed and ratified," said Matsui. "I urge Japan's leaders to manifest the pacifism of the Japanese constitution by displaying leadership in taking the next step towards a world free from nuclear weapons." The mayor urged world leaders to come to the city to see the memorial for themselves, amid expectations that Pope Francis will visit later this year. The ongoing threat from atomic weapons in the region was demonstrated as nuclear-armed North Korea fired off two "unidentified projectiles" off its eastern coast -- the latest in a series of tests. Meanwhile, the US and Russia failed to renew a Cold War-era nuclear pact last week, triggering renewed fears of an arms race. Japan remains the only country to have experienced atomic attack -- against Hiroshima and Nagasaki, days ahead of the country's surrender on August 15, 1945 to end World War II. For his part, Abe reiterated a pledge to serve as a "bridge" between nations with and without nuclear weapons to rid the world of them. "With help from both sides, I will patiently encourage them to engage in dialogue and I am resolved to lead international efforts towards this end," he said.

Mayor urges Japan to sign UN nuke ban on Hiroshima anniversary

Japan&nbsp;and the United States have agreed to target a broad deal on bilateral trade by September, seeking to bridge differences of opinion over tariffs on beef and the automobile sector, the Nikkei business daily reported on Sunday.

As part of a drive to rectify what he claims are unfair global trade imbalances, US&nbsp;President Donald Trump has been urging Tokyo to accelerate <a href="https://www.wionews.com/.../us-japan-trade-agreement-will-be-model-for- indo-pacific-pence-177013">trade talks</a> that would open up Japan's politically sensitive agriculture sector, as well as curbing&nbsp;Japan's US-bound auto exports.

The agreement to target a deal by September was reached during a meeting between&nbsp;Japanese Economy Minister Toshimitsu Motegi and US&nbsp;Trade Representative Robert Lighthizer in Washington DC, the Nikkei said, citing unidentified negotiating sources.

The paper said both sides hope to have a broad trade deal in place by the time&nbsp;Japanese Prime Minister Shinzo Abe meets US&nbsp;President Donald Trump on the sidelines of United Nations' general assembly scheduled for later in September in New York.

On Friday, Motegi told reporters after meeting Lighthizer that the two sides made "significant progress" in narrowing their differences on trade and agreed to hold another ministerial-level meeting later this month.

Washington seeks the early opening of&nbsp;Japan's agriculture sector including reductions in 38.5% tariffs on US&nbsp;beef imports, while&nbsp;Japan&nbsp;calls for the abolition of US&nbsp;tariffs on&nbsp;Japan's industrial goods such as car parts.

Trump and Abe could also look at producing some kind of trade accord later this month when they may meet on the sidelines of Group of Seven leaders' summit, the Nikkei added.

Japan and the United States have agreed to target a broad deal on bilateral trade by September, seeking to bridge differences of opinion over tariffs on beef and the automobile sector, the Nikkei business daily reported on Sunday.

Japan and the United States have agreed to target a broad deal on bilateral trade by September, seeking to bridge differences of opinion over tariffs on beef and the automobile sector, the Nikkei business daily reported on Sunday. As part of a drive to rectify what he claims are unfair global trade imbalances, US President Donald Trump has been urging Tokyo to accelerate trade talks that would open up Japan's politically sensitive agriculture sector, as well as curbing Japan's US-bound auto exports. The agreement to target a deal by September was reached during a meeting between Japanese Economy Minister Toshimitsu Motegi and US Trade Representative Robert Lighthizer in Washington DC, the Nikkei said, citing unidentified negotiating sources. The paper said both sides hope to have a broad trade deal in place by the time Japanese Prime Minister Shinzo Abe meets US President Donald Trump on the sidelines of United Nations' general assembly scheduled for later in September in New York. On Friday, Motegi told reporters after meeting Lighthizer that the two sides made "significant progress" in narrowing their differences on trade and agreed to hold another ministerial-level meeting later this month. Washington seeks the early opening of Japan's agriculture sector including reductions in 38.5% tariffs on US beef imports, while Japan calls for the abolition of US tariffs on Japan's industrial goods such as car parts. Trump and Abe could also look at producing some kind of trade accord later this month when they may meet on the sidelines of Group of Seven leaders' summit, the Nikkei added.

Japan, US target broad bilateral trade deal by September: Report

KSL Cleantech is set to launch e-vehicles in India with China's Huaihai. Watch this video to know more.

WION Wallet: KSL Cleantech to launch e-vehicles in India with Huaihai

South Korean President Moon Jae-in on Friday condemned Japan's decision to <a href="https://www.wionews.com/world/japan-to-remove-south-korea-from-favoured-export-partner-white-list-240044">remove his country from a "white list"</a> of favoured trading partners, calling it a "reckless" move and threatening unspecified countermeasures.

Tokyo was responsible for "ignoring diplomatic solutions" and "aggravating the situation" Moon Jae-in said in remarks to a short-notice cabinet meeting televised live. "Responsibility for what is going to happen next also lies squarely with the Japanese government."

Earlier Japan said that it will remove South Korea from the ''white list''.

The measure is expected to take effect later this month.

Tokyo's decision comes despite calls from Washington for the two US allies to set aside their differences, and after South Korea warned it would review security cooperation with Japan if the de-listing went ahead.

South Korea becomes the first country to be dropped off the list.

The measure is the latest blow to ties between South Korea and Japan, which have plunged to new lows over a long-running dispute on forced labour during World War II.

South Korean President Moon Jae-in on Friday condemned Japan's decision to remove his country from a "white list" of favoured trading partners, calling it a "reckless" move and threatening unspecified countermeasures.

South Korean President Moon Jae-in on Friday condemned Japan's decision to remove his country from a "white list" of favoured trading partners, calling it a "reckless" move and threatening unspecified countermeasures. Tokyo was responsible for "ignoring diplomatic solutions" and "aggravating the situation" Moon Jae-in said in remarks to a short-notice cabinet meeting televised live. "Responsibility for what is going to happen next also lies squarely with the Japanese government." Earlier Japan said that it will remove South Korea from the ''white list''. The measure is expected to take effect later this month. Tokyo's decision comes despite calls from Washington for the two US allies to set aside their differences, and after South Korea warned it would review security cooperation with Japan if the de-listing went ahead. South Korea becomes the first country to be dropped off the list. The measure is the latest blow to ties between South Korea and Japan, which have plunged to new lows over a long-running dispute on forced labour during World War II.

Responsibility for what happens next lies with Japan: South Korea President Moon Jae-in on trade confrontation

Tensions have now intensified as Japan is dropping South Korea from its most favoured trading partner list. The decision was taken by the Japanese cabinet which has now removed South Korea from the white list. Watch this video to know more.

Japan drops South Korea from trade list

Japan on Friday said it will remove South Korea from a "white list" of favoured export partners, a move that Seoul has warned will have "grave consequences" for <a href="https://www.wionews.com/world/us-south-korea-military-exercises-still-on-despite-norths-warnings-pentagon-official-240011">security ties between the US allies</a>.

"The government at a cabinet meeting today approved a revision to the export control law... South Korea, the only Asian nation on the list, will be removed," Japan's Trade Minister Hiroshige Seko told reporters.

The measure, which is expected to take effect later this month, comes after Tokyo last month tightened the rules on exports of three products key to South Korea's chip and smartphone industries, raising fears for global supply in the sectors.

Tokyo's decision comes despite calls from Washington for the two US allies to set aside their differences, and after South Korea warned it would review security cooperation with Japan if the de-listing went ahead.

South Korea is now the first country ever to be dropped from Japan's so-called "white" list of nations granted minimal constraints on exports of products that could be diverted to military use.

It means hundreds of products listed as sensitive will be subject to tighter export controls, though experts said the effect would be more symbolic than economic.

It "will only have a limited impact on the South Korean economy," said Hajime Yoshimoto, senior economist at Nomura Securities, in part because Japanese exporters can obtain special permission to ship to non-white-list countries with simplified procedures. &nbsp;

Many major Japanese exporters already have that special permission, according to the trade ministry.

"I'd like to make it clear that this is not an export embargo," Seko said Friday.

"We believe stripping South Korea of preferential treatment does not affect the global supply chain or have a negative impact on Japanese companies."

The measure is the latest blow to ties between South Korea and Japan, which have plunged to new lows over a long-running dispute on forced labour during World War II.

A string of recent South Korean court rulings ordering Japanese companies to compensate victims of wartime forced labour have infuriated Ja

Japan on Friday said it will remove South Korea from a "white list" of favoured export partners, a move that Seoul has warned will have "grave consequences" for security ties between the US allies.

Japan on Friday said it will remove South Korea from a "white list" of favoured export partners, a move that Seoul has warned will have "grave consequences" for security ties between the US allies. "The government at a cabinet meeting today approved a revision to the export control law... South Korea, the only Asian nation on the list, will be removed," Japan's Trade Minister Hiroshige Seko told reporters. The measure, which is expected to take effect later this month, comes after Tokyo last month tightened the rules on exports of three products key to South Korea's chip and smartphone industries, raising fears for global supply in the sectors. Tokyo's decision comes despite calls from Washington for the two US allies to set aside their differences, and after South Korea warned it would review security cooperation with Japan if the de-listing went ahead. South Korea is now the first country ever to be dropped from Japan's so-called "white" list of nations granted minimal constraints on exports of products that could be diverted to military use. It means hundreds of products listed as sensitive will be subject to tighter export controls, though experts said the effect would be more symbolic than economic. It "will only have a limited impact on the South Korean economy," said Hajime Yoshimoto, senior economist at Nomura Securities, in part because Japanese exporters can obtain special permission to ship to non-white-list countries with simplified procedures. Many major Japanese exporters already have that special permission, according to the trade ministry. "I'd like to make it clear that this is not an export embargo," Seko said Friday. "We believe stripping South Korea of preferential treatment does not affect the global supply chain or have a negative impact on Japanese companies." The measure is the latest blow to ties between South Korea and Japan, which have plunged to new lows over a long-running dispute on forced labour during World War II. A string of recent South Korean court rulings ordering Japanese companies to compensate victims of wartime forced labour have infuriated Ja

Japan to remove South Korea from favoured export partner 'white list'

Russian Prime Minister Dmitry Medvedev on Friday visited one of a chain of far-eastern islands claimed by Japan, sparking a protest from Tokyo.

Paying a visit to Russia's Sakhalin Island, Medvedev also went to Iturup, one of the four islands contested by Japan, where it is known as Etorofu.

"This is our land," Medvedev told reporters during the trip which included visits to a fish-processing plant and hot springs.

"These islands are part of the Sakhalin region," he said in televised remarks, reiterating Russia's traditional stance.

"What grounds can there be for our concern?" he said, referring to Japan's protests.

The Japanese foreign ministry said Medvedev's decision to visit the island was "extremely regrettable."

"Even now, more than 70 years after the war, territorial issues have not been solved with the Soviet Union/Russia and intensive peace treaty negotiations have been underway," the Japanese foreign ministry said in a statement.

"We will strongly urge Russia to constructively deal with issues such as the signing of a peace treaty to move forward the future Japan-Russia relationship."

Medvedev said that the more Japan protested the more reasons Russian officials had to visit the islands known in Russia as the Kurils and the Northern Territories in Japan.

The Kurils, which lie north of Japan's Hokkaido island, have been controlled by Moscow since they were seized by Soviet troops in the dying days of World War II.

Last year, President Vladimir Putin suggested that Russia and Japan sign a peace treaty, ending World War II hostilities "without any preconditions".

Both countries have made little progress on the issue in recent months, however.

Medvedev travelled to the Kuril island of Kunashir as president in 2010, becoming the first Russian leader to visit the disputed islands and provoking fury in Tokyo.&nbsp;

He has also visited the islands several times as prime minister.

Russian Prime Minister Dmitry Medvedev on Friday visited one of a chain of far-eastern islands claimed by Japan, sparking a protest from Tokyo. Paying a visit to Russia's Sakhalin Island, Medvedev also went to Iturup, one of the four islands contested by Japan, where it is known as Etorofu.

Russian Prime Minister Dmitry Medvedev on Friday visited one of a chain of far-eastern islands claimed by Japan, sparking a protest from Tokyo. Paying a visit to Russia's Sakhalin Island, Medvedev also went to Iturup, one of the four islands contested by Japan, where it is known as Etorofu. "This is our land," Medvedev told reporters during the trip which included visits to a fish-processing plant and hot springs. "These islands are part of the Sakhalin region," he said in televised remarks, reiterating Russia's traditional stance. "What grounds can there be for our concern?" he said, referring to Japan's protests. The Japanese foreign ministry said Medvedev's decision to visit the island was "extremely regrettable." "Even now, more than 70 years after the war, territorial issues have not been solved with the Soviet Union/Russia and intensive peace treaty negotiations have been underway," the Japanese foreign ministry said in a statement. "We will strongly urge Russia to constructively deal with issues such as the signing of a peace treaty to move forward the future Japan-Russia relationship." Medvedev said that the more Japan protested the more reasons Russian officials had to visit the islands known in Russia as the Kurils and the Northern Territories in Japan. The Kurils, which lie north of Japan's Hokkaido island, have been controlled by Moscow since they were seized by Soviet troops in the dying days of World War II. Last year, President Vladimir Putin suggested that Russia and Japan sign a peace treaty, ending World War II hostilities "without any preconditions". Both countries have made little progress on the issue in recent months, however. Medvedev travelled to the Kuril island of Kunashir as president in 2010, becoming the first Russian leader to visit the disputed islands and provoking fury in Tokyo. He has also visited the islands several times as prime minister.

Russia PM Dmitry Medvedev visits disputed island; sparks protest from Japan

Investors continued to pump in money into bonds and shunned equities in the past week, Bank of America Merrill Lynch (BAML) said on Friday, amid worries of a corporate earnings recession and trade tensions across the world.

BAML said its global earnings per share (EPS) "growth model" suggested an earnings recession. The model forecasts a 7.5% drop in EPS in the next 12 months.

With all major central banks coming out with less-dovish guidance, in the week to July 31 investors played it safe by pouring $10.5 billion into bonds while pulling some $1.7 billion money out of equities.

The US was the only region to attract investors, who pumped $4.8 billion into equities, while European and Japan stocks had outflows. Money has flowed out of European equities in 70 of the past 73 weeks.

Global equities were roiled last week by central bank comments that fell-short of expectations. European markets took a sharp hit after the European Central Bank kept interest&nbsp;rates intact and its outlook on easing came in below market expectations.

The US Federal Reserve cut interest rates in line with market expectations on Wednesday but poured cold water on market expectations of a lengthy easing cycle sending global stocks lower.

Investors continued to pump in money into bonds and shunned equities in the past week, Bank of America Merrill Lynch (BAML) said on Friday, amid worries of a corporate earnings recession and trade tensions across the world.

Investors continued to pump in money into bonds and shunned equities in the past week, Bank of America Merrill Lynch (BAML) said on Friday, amid worries of a corporate earnings recession and trade tensions across the world. BAML said its global earnings per share (EPS) "growth model" suggested an earnings recession. The model forecasts a 7.5% drop in EPS in the next 12 months. With all major central banks coming out with less-dovish guidance, in the week to July 31 investors played it safe by pouring $10.5 billion into bonds while pulling some $1.7 billion money out of equities. The US was the only region to attract investors, who pumped $4.8 billion into equities, while European and Japan stocks had outflows. Money has flowed out of European equities in 70 of the past 73 weeks. Global equities were roiled last week by central bank comments that fell-short of expectations. European markets took a sharp hit after the European Central Bank kept interest rates intact and its outlook on easing came in below market expectations. The US Federal Reserve cut interest rates in line with market expectations on Wednesday but poured cold water on market expectations of a lengthy easing cycle sending global stocks lower.

Fears of earnings recession keep investors away from stocks: Bank of America Merrill Lynch

South Korea fired back at Japan over a deepening trade dispute on Friday (August 2), pledging it would not be "defeated again" by its neighbour, laying bare decades-old animosity at the root of a row over fast-track export status.

South Korea's Moon pledges action against Japan's "unfair" trade move

Asian stocks took another beating on Friday (August 2) with investors piling into safe-haven assets after U.S. President Donald Trump said he would slap a 10% tariff on the remaining $300 billion of Chinese imports starting September 1

Trump's tariffs sends Asia stocks dipping

The <a href="https://www.wionews.com/world/responsibility-for-what-happens-next-lies-with-japan-south-korea-president-moon-jae-in-on-trade-confrontation-240091">South Korean government</a> has launched a new learning website for companies puzzled by Japan's recent trade restrictions against the country amid growing confusion over changes of rules about buying Japanese goods.

The website&nbsp;is up and running since Thursday, a day before Japan decided to drop South Korea from the so-called "white list" of easy trade countries in midst of a growing dispute between the two countries over their wartime past.

"There have been myriads of requests from companies that need a clear picture of what getting removed from the white list means," a South Korean trade ministry official told Reuters on Friday, referring to the reason for the website.

The website titled "Know the Japanese restrictions Right" offers a list of sensitive items which can face tightened regulations and guidelines for companies to provide information to Japanese suppliers if they need approval.

Businessmen can also sign up for a face-to-face meeting with government officials via the website.

South Korea's removal from the favoured trade countries list may require South Korean firms to take extra administrative procedures to obtain import permits, potentially slowing down purchases of a wide range of Japanese goods that can be used for weapons production.

The country's President Moon Jae-in on Friday said South Korea would not be "defeated again" by its neighbour, laying bare decades-old animosity at the root of a row over fast-track export status.

"I can see challenges won't be small. Our companies and people have the capacity to overcome this ordeal...We can do this," Moon told a cabinet meeting.

The South Korean government has been hosting a series of seminars for industry groups from semiconductor sectors to the automobile industry as companies scramble to prepare for new trade environment with Japan.

"This is such a confusing time for everyone regardless of which industry you are in," said an official at a South Korean major electric car battery maker.

"The rules are so vague and confusing that almost no one knows how to comply and what to do. It's like an unopened black box," the official added, asking not to be named due to the sensitivity of the matter.

The South Korean government has launched a new learning website for companies puzzled by Japan's recent trade restrictions against the country amid growing confusion over changes of rules about buying Japanese goods.

The South Korean government has launched a new learning website for companies puzzled by Japan's recent trade restrictions against the country amid growing confusion over changes of rules about buying Japanese goods. The website is up and running since Thursday, a day before Japan decided to drop South Korea from the so-called "white list" of easy trade countries in midst of a growing dispute between the two countries over their wartime past. "There have been myriads of requests from companies that need a clear picture of what getting removed from the white list means," a South Korean trade ministry official told Reuters on Friday, referring to the reason for the website. The website titled "Know the Japanese restrictions Right" offers a list of sensitive items which can face tightened regulations and guidelines for companies to provide information to Japanese suppliers if they need approval. Businessmen can also sign up for a face-to-face meeting with government officials via the website. South Korea's removal from the favoured trade countries list may require South Korean firms to take extra administrative procedures to obtain import permits, potentially slowing down purchases of a wide range of Japanese goods that can be used for weapons production. The country's President Moon Jae-in on Friday said South Korea would not be "defeated again" by its neighbour, laying bare decades-old animosity at the root of a row over fast-track export status. "I can see challenges won't be small. Our companies and people have the capacity to overcome this ordeal...We can do this," Moon told a cabinet meeting. The South Korean government has been hosting a series of seminars for industry groups from semiconductor sectors to the automobile industry as companies scramble to prepare for new trade environment with Japan. "This is such a confusing time for everyone regardless of which industry you are in," said an official at a South Korean major electric car battery maker. "The rules are so vague and confusing that almost no one knows how to comply and what to do. It's like an unopened black box," the official added, asking not to be named due to the sensitivity of the matter.

South Korea launches 'Let's Learn Japan's Restrictions' website for puzzled businesses

The dollar charged to its highest in more than two years on Thursday after the <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/business-economy/stormy-sterling-sinks-again-stocks-wilt-before-fed-239448&amp;sa=U&amp;ved=2ahUKEwjO-ZbLuOHjAhUBr48KHSApDvgQFjAFegQIBBAC&amp;usg=AOvVaw3Y8jTTDaVY7qnK939Bej7w">Federal Reserve</a> spoiled hopes of a run of US interest rate cuts.

A blizzard of global data and events was going on, but it was Fed Chair Jerome Powell's remarks on Wednesday that set the markets running. Powell said the first US rate cut in over a decade was "not the beginning of a long series of rate cuts".

The dollar’s reaction said it all. The DXY index surged to its highest in more than two years, euro/dollar dropped below $1.11 for the first time since May 2017, and Brexit-hobbled sterling hit 30-month lows just above $1.21.

World stocks had recoiled overnight and emerging markets had their longest run of falls in almost a year.

"Markets interpreted the Fed’s communication as slightly hawkish and therefore further rate cuts in the immediate future were somewhat priced out," said David Milleker, senior economic advisor at Union Investment. "And the dollar strengthened. All in all, the Fed did not achieve what it presumably wanted."

US Treasuries were sold off as investors scaled back their pre-Fed expectations for at least 100 basis points of cuts in the near term. Yields on 10-year notes climbed as high as 2.058% in Europe from a US close of 2.007%.

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Core eurozone bond yields were rising, too, although -0.428% German Bund levels were still extraordinary. "I didn’t say it’s just one rate cut," Powell had been careful to emphasise after Wednesday's 25-basis-point move.

Instead, he characterised it as "a mid-cycle adjustment to policy", citing signs of a global slowdown, US trade tensions and a desire to boost inflation.

Wall Street fell afterwards and E-minis futures for the S&amp;P 500 were pointing 0.15% lower.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.8%, extending losses for a fifth day to the lowest since mid-June and posting its biggest one-day percentage drop in a month.

Japan's Nikkei rose, reversing early declines. Australian shares declined 0.4%. Losses by Chinese shares ended down 0.8%.

"We believe the Fed is trying to thread the needle, balancing market jitters about slowing global growth with robust consumer spending and a strong job market in the US," said Nick Maroutsos, co-head of global bonds at Janus Henderson.

"In other words, by cutting just 25 bps, the Fed is trying to bolster market confidence while also keeping some dry powder in reserve in case of an economic shock."

Trade Talks

Adding to worries, the United States and China on Wednesday ended a brief round of talks without much progress in ending their year-long trade war.

Downbeat data and factory surveys on Thursday had also pointed to further weakness for Asia's trade-reliant economies.

South Korea's exports fell for an eighth straight month in July amid weak global demand and a dispute with Japan. New export orders shrank the most in about six years.

South Korea, the world's sixth-largest exporter, is the first major industrial economy to release trade data each month, providing an early assessment on the health of global demand.

Pressure on Chinese factories eased slightly, but manufacturing activity continued to shrink.

"The broader global trade dynamic remains a challenge," Morgan Stanley strategist Michael Zezas said. "Trade should continue to drag on corporate confidence, CapEx and global growth in the near term."

In Europe's foreign exchange markets, sterling dropped as low as $1.2101 before a Bank of England meeting that's expected to leave its 0.75% interest rate unchanged but result in plenty of interesting discussions.

Fears of a <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/britain-to-spend-an-extra-26-billion-on-no-deal-brexit-planning-239860&amp;sa=U&amp;ved=2ahUKEwjd24uDu-HjAhUW8XMBHSfID2IQFjAAegQIBhAC&amp;usg=AOvVaw05e85f7pwO51L5lCnpMiS3">no-deal Brexit</a> now that Boris Johnson is prime minister continue to afflict the pound, although it was fractionally higher against a weakening euro at 91.17 pence.

"Sterling remains vulnerable to a further escalation in Brexit tensions and we anticipate the market will likely discount higher risks of a ‘no deal’ outcome in the weeks ahead," said Roger Hallam, currency chief investment officer at JP Morgan Asset Management.

Elsewhere, the Aussie dollar slipped below key chart support of $0.6832 to as low as $0.6828, a level not seen since an early January "flash crash".

The kiwi hit a six-week trough of $0.6535 on expectations the Reserve Bank of New Zealand will cut rates next week.

US crude futures fell 76 cents to $57.82 per barrel after comments on the rating outlook. Brent was down 71 cents at $64.34.

Spot gold also fell, to $1,405.26.

The dollar charged to its highest in more than two years on Thursday after the Federal Reserve spoiled hopes of a run of US interest rate cuts. A blizzard of global data and events was going on, but it was Fed Chair Jerome Powell's remarks on Wednesday that set the markets running.

The dollar charged to its highest in more than two years on Thursday after the Federal Reserve spoiled hopes of a run of US interest rate cuts. A blizzard of global data and events was going on, but it was Fed Chair Jerome Powell's remarks on Wednesday that set the markets running. Powell said the first US rate cut in over a decade was "not the beginning of a long series of rate cuts". The dollar’s reaction said it all. The DXY index surged to its highest in more than two years, euro/dollar dropped below $1.11 for the first time since May 2017, and Brexit-hobbled sterling hit 30-month lows just above $1.21. World stocks had recoiled overnight and emerging markets had their longest run of falls in almost a year. "Markets interpreted the Fed’s communication as slightly hawkish and therefore further rate cuts in the immediate future were somewhat priced out," said David Milleker, senior economic advisor at Union Investment. "And the dollar strengthened. All in all, the Fed did not achieve what it presumably wanted." US Treasuries were sold off as investors scaled back their pre-Fed expectations for at least 100 basis points of cuts in the near term. Yields on 10-year notes climbed as high as 2.058% in Europe from a US close of 2.007%. WATCH VIDEO × Core eurozone bond yields were rising, too, although -0.428% German Bund levels were still extraordinary. "I didn’t say it’s just one rate cut," Powell had been careful to emphasise after Wednesday's 25-basis-point move. Instead, he characterised it as "a mid-cycle adjustment to policy", citing signs of a global slowdown, US trade tensions and a desire to boost inflation. Wall Street fell afterwards and E-minis futures for the S&P 500 were pointing 0.15% lower. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.8%, extending losses for a fifth day to the lowest since mid-June and posting its biggest one-day percentage drop in a month. Japan's Nikkei rose, reversing early declines. Australian shares declined 0.4%. Losses by Chinese shares ended down 0.8%. "We believe the Fed is trying to thread the needle, balancing market jitters about slowing global growth with robust consumer spending and a strong job market in the US," said Nick Maroutsos, co-head of global bonds at Janus Henderson. "In other words, by cutting just 25 bps, the Fed is trying to bolster market confidence while also keeping some dry powder in reserve in case of an economic shock." Trade Talks Adding to worries, the United States and China on Wednesday ended a brief round of talks without much progress in ending their year-long trade war. Downbeat data and factory surveys on Thursday had also pointed to further weakness for Asia's trade-reliant economies. South Korea's exports fell for an eighth straight month in July amid weak global demand and a dispute with Japan. New export orders shrank the most in about six years. South Korea, the world's sixth-largest exporter, is the first major industrial economy to release trade data each month, providing an early assessment on the health of global demand. Pressure on Chinese factories eased slightly, but manufacturing activity continued to shrink. "The broader global trade dynamic remains a challenge," Morgan Stanley strategist Michael Zezas said. "Trade should continue to drag on corporate confidence, CapEx and global growth in the near term." In Europe's foreign exchange markets, sterling dropped as low as $1.2101 before a Bank of England meeting that's expected to leave its 0.75% interest rate unchanged but result in plenty of interesting discussions. Fears of a no-deal Brexit now that Boris Johnson is prime minister continue to afflict the pound, although it was fractionally higher against a weakening euro at 91.17 pence. "Sterling remains vulnerable to a further escalation in Brexit tensions and we anticipate the market will likely discount higher risks of a ‘no deal’ outcome in the weeks ahead," said Roger Hallam, currency chief investment officer at JP Morgan Asset Management. Elsewhere, the Aussie dollar slipped below key chart support of $0.6832 to as low as $0.6828, a level not seen since an early January "flash crash". The kiwi hit a six-week trough of $0.6535 on expectations the Reserve Bank of New Zealand will cut rates next week. US crude futures fell 76 cents to $57.82 per barrel after comments on the rating outlook. Brent was down 71 cents at $64.34. Spot gold also fell, to $1,405.26.

Mind your backs, dollar coming through!

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