Japan's Shinzo Abe cruises to party vote win, to stay as Prime Minister

Agencies
September 20, 2018

Tokyo, Sept 20: Prime Minister Shinzo Abe won comfortable re-election as leader of his ruling party Thursday, setting him on course to become Japan's longest-serving premier and realise his dream of reforming the constitution.

The 63-year-old conservative secured 553 votes against 254 won by former defence minister Shigeru Ishiba, a hawkish self-confessed "military geek", in a two-horse race for leader of the Liberal Democratic Party.

The win effectively hands Abe three more years as PM, giving him the chance of breaking the record for the nation's longest-serving premiership held by Taro Katsura, a revered politician who served three times between 1901 and 1913.

Public support for Abe -- a political thoroughbred whose grandfather and father both held power -- has recovered after he managed to survive a series of cronyism and cover-up scandals.

Now reconfirmed in power, Abe will head to New York this weekend to attend the UN General Assembly and hold a summit with US President Donald Trump.

Abe and Trump, who enjoy each other's company on the golf course and are close diplomatic allies, are expected to analyse the latest inter-Korean summit.

But they will also have to confront a growing trade dispute as Trump sees Tokyo among "unfair" trade partners.

'Forever renounce war'

While Japanese voters put the economy and social security as their top priorities, Abe aims to use the election to push his dream of reforming the country's post-World War II pacifist constitution.

Nationalist Abe has frequently voiced his wish to rewrite the charter, imposed by the victorious US occupiers, which forces the country to "forever renounce war" and dictates that armed forces will "never be maintained".

Abe insists any changes would merely remove the country's well-equipped Self-Defense Forces from the constitutional paradox whereby they should not technically exist.

"It's time to stipulate both the Self-Defense Forces and the protection of Japan's peace and independence in the constitution," Abe said in his last stump speech in Tokyo.

But any changes to the text would be hugely sensitive in pacifist Japan and almost certainly greeted with fury in China and the Koreas, 20th-century victims of Japanese military aggression.

Even if Abe manages to force a revision through parliament, he would face a referendum, raising the prospect of a Brexit-style political meltdown if the people vote against him, said Yu Uchiyama, political scientist from the University of Tokyo.

In addition, surveys show that tinkering with the legal text is far from top of most Japanese voters' to-do list, as the country faces an ageing and declining population and a still-sluggish economy.

Acknowledging concerns over the economic outlook, Abe said he plans to introduce "bold" stimulus measures to ease the expected impact of a tax hike scheduled for October next year.

Japan's economy has been expanding for the past few years at a slow pace thanks to the Bank of Japan's ultra-loose monetary policy and huge government spending, which have led to a weak yen -- a key positive element for Japanese exporters.

But analysts warned US-led trade wars could be a major risk factor for an economy still struggling to win a long battle against deflation.

Local media said Abe plans to reshuffle his cabinet on October 1. However, he is expected to retain Vice Prime Minister and Finance Minister Taro Aso, a political ally who has backed his "Abenomics" strategy to stimulate the world's third-largest economy.

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News Network
June 15,2020

Jun 15: Oil prices fell on Monday, with U.S. oil dropping more than 2%, as a spike in new coronavirus cases in the United States raised concerns over a second wave of the virus which would weigh on the pace of fuel demand recovery.

Brent crude futures fell 66 cents, or 1.7%, at $38.07 a barrel as of 0016 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 81 cents, or 2.2%, to $35.45 a barrel.

Both benchmarks ended down about 8% last week, their first weekly declines since April, hit by the U.S. coronavirus concerns: More than 25,000 new cases were reported on Saturday alone as more states, including Florida and Texas, reported record new infection highs.

"Concerns about the recent uptick in COVID-19 infections in the U.S. and a potential 'second wave' are weighing on oil at the moment," said Stephen Innes, chief global market strategist at AxiCorp.

Meanwhile, an OPEC-led monitoring panel will meet on Thursday to discuss ongoing record production cuts to see whether countries have delivered their share of the reductions, but will not make any decision, according to five OPEC+ sources.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, have been reducing supplies by 9.7 million barrels per day (bpd), about 10% of pre-pandemic demand, and agreed in early June to extend the cuts for a month until end-July.

Iraq, one of the laggards in complying with the curbs, agreed with its major oil companies to cut crude production further in June, Iraqi officials working at the fields told Reuters on Sunday.

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News Network
April 25,2020

Bueno Aires, Apr 25: Dozens of prisoners at a jail in Argentina's capital Buenos Aires rioted on Friday demanding urgent health measures after confirmation of a coronavirus case inside the facility.

Police surrounded the prison, which holds around 2,200 inmates, as explosions were heard, news agency reporters at the scene said.

A group of prisoners managed to climb onto a roof, burn mattresses and throw objects at security guards trying to quell the uprising.

Authorities have yet to comment on the riot or whether there are any injuries.

Inmates could be heard shouting demands for a judge to hear their case and for better protection against the pandemic, just a few days after a warden at the Villa Devoto prison was confirmed to have contracted the novel coronavirus.

"COVID-19 in Devoto, genocidal judges," read a banner hung from the prison roof. "We refuse to die in prison," read another.

The inmates are demanding, among other things, that releases that were pending before the pandemic be processed.

Several other riots broke out in prisons last week, including in Florencio Varela in Buenos Aires province where one inmate died and 20 were injured.

Argentina has been in lockdown since March 20 and has recorded more than 3,400 coronavirus cases and 167 deaths.

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News Network
June 29,2020

Karachi, Jun 29: Four heavily-armed militants attacked the busy Pakistan Stock Exchange on Monday morning, killing four security guards and a police sub-inspector before being shot dead in an exchange of fire, media reports said.

The unidentified militants opened indiscriminate fire and lobbed hand grenades at the main gate of the building as they tried to storm it, Geo News reported.

Police said that all the terrorists have been killed while five persons injured in the attack.

Four security guards and a police sub-inspector were also killed in the attack.

"An unfortunate incident took place at the Pakistan Stock Exchange. They made their way from our parking area and opened fire on everyone," said Abid Ali Habib, Director of Pakistan Stock Exchange.

The firing by militants caused panic among the people in the building.

Sindh province Governor Imran Ismail condemned the incident.

"Strongly condemn the attack on PSX aimed at tarnishing our relentless war on terror. Have instructed the IG & security agencies to ensure that the perpetrators are caught alive & their handlers are accorded exemplary punishments. We shall protect Sindh at all costs," he said on Twitter.

Police and rangers have arrived on the spot and surrounded the area.

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