TOKYO -- Bank of Japan (BOJ) Governor Kazuo Ueda said Wednesday that the global economy has been hit by significant spikes in energy prices since the 1970s, and the world is now facing a fifth "oil price shock."
Speaking at an international conference in Tokyo, Ueda said Japan's consumer prices have responded differently to oil price increases across various periods, meaning that central banks should not view oil prices in isolation, as the same oil price increase can have very different effects depending on wages, expectations, demand and exchange rates. (Japan-BOJ Chief-Oil Price Shock)
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HONG KONG -- Seven scientists won the Shaw Prize this year for their outstanding work in the prize's three categories, the Shaw Prize Foundation announced on Wednesday.
The Astronomy prize is awarded to Ken'ichi Nomoto, an emeritus professor from the University of Tokyo, and Stanford Woosley, a professor from the University of California at Santa Cruz, for their studies of stellar explosions and the origin of the elements. (Hong Kong-Shaw Prize)
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TOKYO -- The Japanese parliament enacted a law on Wednesday to establish a national intelligence council.
The legislation came as Prime Minister Sanae Takaichi aims to centralize and strengthen the country's intelligence capabilities. (Japan-Intelligence law)
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HONG KONG -- The new passenger departure facilities at Terminal 2 of Hong Kong International Airport (HKIA) officially opened on Wednesday, further consolidating the city's status as a global aviation hub.
Expansion and upgrade of the new terminal cost around 12.9 billion Hong Kong dollars (about 1.65 billion U.S. dollars) and took several years to complete, according to the Airport Authority Hong Kong, the city's airport authority. (Hong Kong-Airport-Terminal Open) Enditem
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