The Japanese economy is staring into the unknown today after the shock resignation of the prime minister Yasuo Fukuda and signals that the outspoken conservative Taro Aso is eyeing the job.
Mr Fukuda made his shock announcement yesterday after less than one year in office, saying he was overwhelmed with the mounting problems besetting Japan, which is teetering on the brink of recession.
The new political uncertainty led to a late sell-off on the Stock Exchange, whose benchmark index slumped 1.75 per cent to its lowest in five months.
Mr Fukuda remains in office until his governing Liberal Democratic Party (LDP) meets to elect his replacement as leader. That is expected to be on Sept 22, after which parliament would formally endorse the new premier.
Mr Aso, a flamboyant former foreign minister known for his love of comic-book culture, made little secret that he wants to be premier.
"Mr Fukuda said last night that he wanted a successor to take over what he has done," Mr Aso, currently the LDP's secretary general, said.
"I believe that I am qualified to take over Mr Fukuda's agenda, including the emergency economic package," he said, referring to an 11.7-trillion-yen (Dh393bn) stimulus plan unveiled on Friday.
Mr Aso, 67, is a former rival of Fukuda and is known for his hawkish views on foreign policy.
He is considered more conservative than the 72-year-old outgoing premier, who helped repair historically uneasy relations with China.
Mr Fukuda's popularity plummeted as his government introduced a deeply unpopular medical plan, suffered a series of scandals and tussled with an opposition set on blocking its legislative agenda.
The resignation revived memories of Shinzo Abe, another LDP prime minister who suddenly quit in September last year. Mr Abe was widely criticised as being irresponsible, including by Fukuda himself.
Mr Fukuda apologised at the start of an LDP meeting on Tuesday, Mr Aso said.
People in the streets snapped up late-night extra newspaper editions after the announcement, some voicing shock or worries for the economy.
"I had been expecting something to change on the economic front," Hideyuki Kato, a 47-year-old salesman in central Tokyo, said. "But I don't have any expectations from politics now."
Mr Fukuda's LDP has been in power for all but 10 months since its creation in 1955.
* AFP
TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
match info
Athletic Bilbao 1 (Muniain 37')
Atletico Madrid 1 (Costa 39')
Man of the match Iker Muniain (Athletic Bilbao)
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Jigra
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
Kill%20
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The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
RESULT
Los Angeles Galaxy 2 Manchester United 5
Galaxy: Dos Santos (79', 88')
United: Rashford (2', 20'), Fellaini (26'), Mkhitaryan (67'), Martial (72')
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COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Biog
Mr Kandhari is legally authorised to conduct marriages in the gurdwara
He has officiated weddings of Sikhs and people of different faiths from Malaysia, Sri Lanka, Russia, the US and Canada
Father of two sons, grandfather of six
Plays golf once a week
Enjoys trying new holiday destinations with his wife and family
Walks for an hour every morning
Completed a Bachelor of Commerce degree in Loyola College, Chennai, India
2019 is a milestone because he completes 50 years in business
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Tree of Hell
Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla
Director: Raed Zeno
Rating: 4/5
Women’s World T20, Asia Qualifier
UAE results
Beat China by 16 runs
Lost to Thailand by 10 wickets
Beat Nepal by five runs
Beat Hong Kong by eight wickets
Beat Malaysia by 34 runs
Standings (P, W, l, NR, points)
1. Thailand 5 4 0 1 9
2. UAE 5 4 1 0 8
3. Nepal 5 2 1 2 6
4. Hong Kong 5 2 2 1 5
5. Malaysia 5 1 4 0 2
6. China 5 0 5 0 0
Final
Thailand v UAE, Monday, 7am
Sri Lanka-India Test series schedule
- 1st Test India won by 304 runs at Galle
- 2nd Test Thursday-Monday at Colombo
- 3rd Test August 12-16 at Pallekele
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
COMPANY%20PROFILE
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THE%20SPECS
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The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5
THE SPECS
Engine: Four-cylinder 2.5-litre
Transmission: Seven-speed auto
Power: 165hp
Torque: 241Nm
Price: Dh99,900 to Dh134,000
On sale: now
PREMIER LEAGUE FIXTURES
Tuesday (UAE kick-off times)
Leicester City v Brighton (9pm)
Tottenham Hotspur v West Ham United (11.15pm)
Wednesday
Manchester United v Sheffield United (9pm)
Newcastle United v Aston Villa (9pm)
Norwich City v Everton (9pm)
Wolves v Bournemouth (9pm)
Liverpool v Crystal Palace (11.15pm)
Thursday
Burnley v Watford (9pm)
Southampton v Arsenal (9pm)
Chelsea v Manchester City (11.15pm)
Scoreline
Abu Dhabi Harlequins 17
Jebel Ali Dragons 20
Harlequins Tries: Kinivilliame, Stevenson; Cons: Stevenson 2; Pen: Stevenson
Dragons Tries: Naisau, Fourie; Cons: Love 2; Pens: Love 2
Singham Again
Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
Thank You for Banking with Us
Director: Laila Abbas
Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum
Rating: 4/5
