Tue05302017

LAST_UPDATEMon, 29 May 2017 11pm

7,588 Secure Jobs At Job Fair@UTC 2.0 2017

7,588 Secure Jobs At Job [email protected] 2.0 2017

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IGP Congrats Stagg On Success Of Anti-Vice, Gaming Operations

IGP Congrats Stagg On Success Of Anti-Vice, Gaming Operations

KUALA LUMPUR -- Po...

Two Killed In Car-Lorry Collision At Bukit Putus

Two Killed In Car-Lorry Collision At Bukit Putus

SEREMBAN - A coupl...

MPSJ Enforces Ban On Polystyrene, Free Plastic Bags At Ramadan Bazaars

MPSJ Enforces Ban On Polystyrene, Free Plastic Bags At Ramadan Bazaars

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Jobless Man Weeps Following 15-Year Jail Sentence, Rotan For Robbing Housewife

KUALA LUMPUR -- A jo...

Brunei's Capital Surveyed As One Of ASEAN's Most Affordable Cities

Brunei's Capital Surveyed As One Of ASEAN's Most Affordable Cities

BANDAR SERI BEGAWA...

Merkel: We Can No Longer Fully Rely ON US, UK

Merkel: We Can No Longer Fully Rely ON US, UK

BERLIN -- EU membe...

Pakistan: Schoolgirl Alleges She Was Pushed Down From Building By Teachers

Pakistan: Schoolgirl Alleges She Was Pushed Down From Building By Teachers

LAHORE -- A 14-year-...

Curfew-Like Restrictions In Parts Of Kashmir Valley

Curfew-Like Restrictions In Parts Of Kashmir Valley

SRINAGAR -- Curfew...

Turkish Red Crescent Aims To Reach 12 Mln Poor People

Turkish Red Crescent Aims To Reach 12 Mln Poor People

MERSIN -- Turkey's...

AirAsia Progresses Towards Becoming An ASEAN Airline

AirAsia Progresses Towards Becoming An ASEAN Airline

KUALA LUMPUR - Air...

RCEP's Swift Conclusion Will Ensure Int Trade Remains Prime Driver

RCEP's Swift Conclusion Will Ensure Int Trade Remains Prime Driver

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No Satellite Launches For Malaysia This Year, Says Arianespace

No Satellite Launches For Malaysia This Year, Says Arianespace

SINGAPORE: There wil...

India Seen Staying Fastest Growing Major Economy In Jan-March Quarter

India Seen Staying Fastest Growing Major Economy In Jan-March Quarter

India remained the...

Air Asia Warns Of Free Ticket Scam Using Its Brand

Air Asia Warns Of Free Ticket Scam Using Its Brand

KUALA LUMPUR: AirA...

After Everest Record Indian Woman Sets Sights On Unclimbed Peaks

After Everest Record Indian Woman Sets Sights On Unclimbed Peaks

KATHMANDU: A 38...

Kelantan Welcomes The Holy Month Of Ramadan With The Price Increase Of Raw Goods

Kelantan Welcomes The Holy Month Of Ramadan With The Price Increase Of Raw Goods

Ministry of Domest...

Identity Of Beautiful And Kind-Hearted Doctor Who Helped Mat Rempit Revealed

Identity Of Beautiful And Kind-Hearted Doctor Who Helped Mat Rempit Revealed

The identity of th...

Here Are The Headlines For Today

Here Are The Headlines For Today

The English mainst...

"Other Than Mahathir Who Would Cry Over Proton, The Rest Of The Country Would Just Smile"

"I am sad," former...

Pic: ReutersPic: ReutersTOKYO: Japanese retail sales fell in April for the second consecutive month, bolstering the argument that a nationwide sales tax increase scheduled for April next year should be delayed.

Japanese retail sales fell 0.8 percent in April from a year earlier, less than a median market forecast for a 1.2 percent annual decline, government data showed on Monday. That marked the fastest decline since March 2015.

Prime Minister Shinzo Abe will delay the tax hike by two and a half years, sources told Reuters, due to worries the move could push down consumer spending even further and possibly hasten a return to deflation.

"Consumer spending is stagnating," said Hidenobu Tokuda, senior economist at Mizuho Research Institute.

"Wages are rising and people are worried about high food prices. I can understand why the government would want to delay this tax hike."

Compared to the previous month, retails sales were unchanged in April, a slowdown from March when they rose by 1.5 percent.

Abe told Finance Minister Taro Aso and the secretary general of his ruling Liberal Democratic Party, Sadakazu Tanigaki, on Saturday of his plan to propose delaying the tax hike for a second time, until October 2019, a source told Reuters.

The prime minister, who has promised to announce steps on Tuesday to spur economic growth and promote structural reform, is also expected to order an extra budget to fund stimulus measures, just two months into the fiscal year and on the heels of a supplementary budget to pay for recovery from recent earthquakes in southern Japan.

The plan to raise the sales tax to 10 percent from 8 percent has already been delayed once after an increase to 8 percent from 5 percent in April 2014 hit consumption and knocked the economy into recession.

Abe swept into office three years ago with bold plans to end decades of deflation and bring about sustainable growth. Unprecedented monetary policy in tandem with fiscal stimulus met with some initial success, but consumer spending has struggled due to weak gains in wages.

-Reuters