Top executives in the ruling coalition on Sunday repeated their opposition to a tax proposed for the large pools of internal reserves being held by companies. Instead of taxing the reserves, it is necessary to encourage firms to invest or raise wages using the money, the lawmakers acknowledged during a televised policy debate. The proposed corporate internal reserves tax is one of the campaign pledges of Tokyo Gov. Yuriko Koike's Kibo no To (Party of Hope) for the general election next Sunday. Such a tax "would prompt companies to flee Japan and cause the loss of jobs," said Fumio Kishida, chairman of the ruling Liberal Democratic Party's Policy Research Council. The ruling coalition will consider changing the tax system to encourage companies to use internal reserves for capital investment, technological development and wages, Kishida said.
In this Saturday, Aug. 12, 2017 photo, a lion rescued from a zoo in the war-torn Syrian city of Aleppo cuddles her newborn cub in the Ma'wa Wildlife Reserve in northern Jordan. The odds had been stacked against "Hajar," a lion cub born just hours after her mother Dana, rescued from a zoo in war-torn Syrian, was released into a wildlife reserve in Jordan. Dana and 12 other animals, including four other lions and two tigers, had barely survived under harsh conditions in the Syrian city of Aleppo, once a major battle ground.
KARACHI: Pakistan's foreign exchange reserves dropped to $17.228 billion during the week ended April 5 from $17.397 billion in the previous week, the central bank said on Thursday. The foreign exchange reserves held by the State Bank of Pakistan (SBP) fell $220 million to $10.271 billion due to external debt servicing and other official payments, it added. The foreign exchange reserves of commercial banks stood at $6.956 billion, compared with $6.905 billion in the previous week.