Fri09222017

LAST_UPDATEFri, 22 Sep 2017 3pm

Youth's Role Important In Ummah Development: Sabah CM

Youth's Role Important In Ummah Development: Sabah CM

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No Reprieve From Kedah Floods; 461 Evacuated

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Najib Highlighted Rohingya's Plight To The World

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Tahfiz Tragedy A Nightmare For Firemen, Residents

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Muslims Urged To Transform Thinking In Conjunction With Maal Hijrah

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Aaron Kwok Confirms The Birth Of His Child

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Billionaire L'Oreal heiress Bettencourt dies aged 94

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Iran Nuclear Deal Cannot Be Renegotiated: Rouhani

Iran Nuclear Deal Cannot Be Renegotiated: Rouhani

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Istanbul's Biggest Airport Closes After Luxury Private Plane Crashes Into Main Runway

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Mexico Focuses On 10 Buildings In Search For Quake Survivors, 273 Dead

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Oil Prices Steady Ahead Of OPEC Meeting On Supply Cut Extension

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Volvo Rolls Out Compact SUV In Latest Upmarket Move Under Geely

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EPF's Overseas Investments Show Positive Figures

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China's Baidu Launches $1.5 Billion Autonomous Driving Fund

China's Baidu Launches $1.5 Billion Autonomous Driving Fund

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Turkish Economy Projected To Finish In World's Top 3

Turkish Economy Projected To Finish In World's Top 3

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Donald Trump’s Bullying UN Speech Shows He Is Not The Leader The World Needs

Donald Trump’s Bullying UN Speech Shows He Is Not The Leader The World Needs

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Gay Dance Festival In Kuala Lumpur? Let’s See What The Religious Police Has To Say

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[VIDEO] Woman Gets Attacked By Nepalese Tea Seller For Trying To Bargain, Netizens Are Enraged By Tourist's Behaviour Instead

[VIDEO] Woman Gets Attacked By Nepalese Tea Seller For Trying To Bargain, Netizens Are Enraged By Tourist's Behaviour Instead

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Al Quran Verses Found On Hotel Slippers Incident, Hotel Says, “It Was Not Us"

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Cleaners Return Money Found In Trash, Netizens Applauds Their Honesty

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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