Japan’s capital braces for what could be heaviest rain in 60 years
Robie de Guzman • October 11, 2019 • 1087
A powerful storm approached Japan on Friday (October 11), threatening to batter its capital with the heaviest rain in 60 years, disrupting a Formula One Grand Prix and rugby’s World Cup and raising fears of transport chaos.
Typhoon Hagibis, which means “speed” in the Philippine language Tagalog, is due to make landfall on the main island of Honshu on Saturday (October 12), a month after one of the strongest typhoons to hit Japan in recent years destroyed or damaged 30,000 houses and caused extensive power cuts.
The storm could be the strongest to hit Tokyo since 1958 and people should also prepare for high waves and storm surges, Yasushi Kajihara, forecast division director at the Japan Meteorological Agency, told media during a Friday briefing.
Rugby World Cup organisers on Thursday (October 10) cancelled Saturday’s game between England and France as well as New Zealand’s match against Italy due to the risk from the typhoon. Japanese Formula One Grand Prix organisers also cancelled all practice and qualifying sessions scheduled for Saturday.
Typhoon Hagibis is expected to pass over or get close to Tokyo and neighbouring areas including Chiba prefecture, which is still recovering from a devastating typhoon Faxai that struck a month ago. (Reuters)
MANILA, Philippines – The Department of Finance (DOF) reported that the Philippines and Japan have reaffirmed their commitment to further enhance economic partnership, which includes plans to expand Japanese investments in the country.
During a recent courtesy call on Finance Secretary Carlos Dominguez III, newly designated Japan Ambassador to the Philippines Koshikawa Kazuhiko said that Japanese companies are exploring ways of realigning their supply chains to other countries like the Philippines.
Koshikawa said the approval by the Senate of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill was welcomed by Japanese investors doing business in the Philippines.
The measure aims to lower the corporate income tax (CIT) for micro, small, and medium enterprises (MSMEs) with a net taxable income of P5 million and below to 20 percent, while other companies, including foreign firms, will pay a harmonized rate of 25 percent.
The current CIT, which is the region’s highest, is 30 percent.
Dominguez, for his part, said that aside from the CIT rate cut, CREATE will also allow the government to tailor fit incentives given to businesses so as to attract the kind of investors that it wants to invest in the Philippines.
The Finance chief also told the ambassador that the Philippines’ competitive edge in attracting foreign direct investments (FDIs) is its young working population, which complements Japan’s highly skilled labor force and makes the two countries ideal “demographic partners.”
During the meeting, Koshikawa also restated Japan’s continuing support for the Philippine government’s efforts to curb the spread of the coronavirus disease, as well as its disaster risk reduction and mitigation programs.
Citing the signing in September between the two countries of the 50-billion yen Post-Disaster Standby Loan (PDSL) Phase 2, the Ambassador reaffirmed Japan’s commitment to continue assisting the Philippines in its disaster risk reduction and mitigation programs.
Since the start of the Duterte administration in July 2016, 15 loan agreements totaling JPY679.296 billion (about P313.147 billion or US$6.443 billion) have been signed by Manila with Tokyo.
Before beginning his tour of duty in Manila, Ambassador Koshikawa was a senior official at the Japan International Cooperation Agency (JICA), and had served as Japan’s Ambassador to Spain and Angola.
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