According to The Asahi Shimbun, eight major companies jointly started a project to support foreign workers and dig out the hidden problems they may face in Japan.
The Japan International Cooperation Agency (JICA), local governments and labor unions were also involved in establishing JP-MIRAI (Japan Platform for Migrant Workers toward a Responsible and Inclusive Society).
JP-MIRAI is an outside, independent and neutral organization that offers consultations to foreign workers on such issues as unpaid wages, daily troubles, visa status and health.
According to The Australian Financial Review, the former Kwinana oil refinery will be the core of a multi-billion-dollar energy transition plan by BP in Australia.
The British oil and gas company’s commitment to the construction of a plant to make renewable diesel and aviation fuel at the site near Fremantle, Western Australia, is due to kick off in earnest next year.
The company, which also holds stakes in the North West Shelf LNG venture and the undeveloped Browse gas project in Western Australia, is also examining options for energy transition projects at its second former refinery site, at Bulwer Island in Brisbane.
According to The Australian Financial Review, Sydney based AirTrunk will build a $1 billion-plus hyperscale data centre in Tokyo, its second for the Japanese capital, as the home-grown operation establishes itself as Asia’s biggest player in the sector outside of China.
To be known as TOK2, the 110-megawatt facility will be AirTrunk’s eighth data centre, joining a portfolio which includes assets in Sydney, Melbourne, Singapore, Hong Kong and an existing $5 billion data centre in Tokyo, which opened last year.
According to The Australian Financial Review, the housing boom is far from over in the regions, with prices in some areas expected to rise by another 20 per cent this year as demand continues to outstrip supply, experts say.
House prices in some popular regions such as the Gold Coast and Sunshine Coast in Queensland, Shepparton in Victoria and the Hunter Valley in NSW, had already shot up by around 10 per cent since the start of the year, said Nerida Conisbee, Ray White chief economist.
According to The Asahi Shimbun, automakers are competing to lower costs for next-generation, high-performance sensors that are expected to make self-driving vehicles much safer on the streets.
The new technology, called a light detection and ranging (LiDAR) system, uses laser light to precisely scan the shapes and locations of objects surrounding the vehicle.
LiDAR has been called the “eye” for automatically operated cars because the technology’s cognitive capability is higher than those of cameras and conventional radar sensors, which are based on radio waves.
According to The Asahi Shimbun, with the help of government grants, companies around Japan are spending trillions of yen to construct or upgrade their semiconductor factories to heighten production amid the global chip shortage.
It is rare for the government to use taxpayers’ money to help build factories, but Japan plans to revive its semiconductor sector to its past levels of glory.
In the 1980s, Japan had around a 50-percent share of the global semiconductor market, but the figure has dropped to around 10 percent, a decline described by the industry ministry as “a failure of the government’s industry strategy.”
According to The Australian Financial Review, scrap metal recycling company Sims has acquired a large parcel of land in the Brisbane port precinct for $93 million in the first step of a bigger plan to set up a metal recycling and processing plant on the site.
The acquisition is in line with chief executive Alistair Field’s strategy of ensuring metals operations are located close to deepwater ports so that metal products can be shipped around the world to satisfy rising customer demand for recycled metals.
According to the statement from the QLD government, Queensland is powering ahead in the new global renewable energy era, taking another significant step towards exporting green hydrogen to Europe’s largest port.
Minister for Energy, Renewables and Hydrogen Mick de Brenni said a Memorandum of Understanding has now been signed with the Port of Rotterdam in The Netherlands to collaborate on opportunities to develop a hydrogen export supply chain.
“The Port of Rotterdam has a target to import up to 20 million tonnes of hydrogen by 2050, starting with imports of ammonia in 2025.
According to The Australian Financial Review, ANZ is predicting house prices to fall by 6 per cent nationally next year; Sydney prices are set to drop by 7 per cent, Melbourne by 6 per cent, Brisbane by 3 per cent and Adelaide by 5 per cent.
Perth and Hobart are expected to fall by 6 per cent each, Darwin by 8 per cent and Canberra by 8 per cent.
ANZ expects the cash rate to rise to 2.25 per cent by May next year.
According to The Asahi Shimbun, the weaker yen has helped listed companies post record net profits for the fiscal year that ended in March, but those sky-high earnings are not expected to trickle down to employees or consumers.
Many major companies have been hesitant about raising their employees’ salaries in light of the rising costs for imports, including ingredients, parts and fuel.
According to SMBC Nikko Securities Inc., 1,323 companies listed on what was then the First Section of the Tokyo Stock Exchange are expected to post a combined 33.5 trillion yen ($260 billion) in net profits, an increase of 35.6 percent over the previous fiscal year.
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