Japan Travel

The travel industry in Japan has had to take a hit due to the earthquake and tsunami. Airlines from all over the world have cut back flights to Japan with travel demand to the country falling rapidly. American Airlines is now reducing flights to Japan, with an announcement that two of six daily flights to Japan will be suspended from April 6th.

Other international airlines like Delta and Qantas have also announced a reduction in capacity to Japan. Travel demand has mainly been falling due to fears of further aftershocks and a radiation on Japan’s north-east coast. Japan’s national carrier Japan Airlines announced earlier this week that passenger numbers on its international routes had fallen 25% since 11th March

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admin    Business     Aftershocks, American Airlines, Delta, Earthquake, Fears, Flights To Japan, International Airlines, Japan Airlines, Japan Industry, Japan Travel, National Airlines, National Carrier, North East Coast, Passenger Numbers, Qantas, Radiation, Travel Demand, Travel Industry, Travel Japan, Tsunami

OPEC

The International Energy Agency has great expectations for OPEC’s oil export revenues. The IEA has suggested revenues will be at one trillion dollars this year alone. But the one trillion dollar figure is based on crude prices staying above $100 a barrel.

Lower crude prices pulled its revenue down to 571 billion dollars in 2009. In 2010 it was 750 billion dollars. The IEA has also said Russia, which has declined membership of OPEC, stands to see its non-quota energy revenues rise to around 350 billion dollars this year.

admin    Business     Billion Dollars, Crude Prices, Dollar Figure, Exceed, Export Revenues, Great Expectations, Iea, International Energy Agency, Oil Export, Opec, Quota, Russia, Trillion

Aussie Dollar

The Australian dollar has continued its high rise in value. It is now at its highest level against the US dollar in 29 years.

Some factors for the steady rise are demand for raw materials and more overseas investments due to higher interest rates.

Analysts are expecting to see the Australian dollar at $1.10 by the end of the year.

admin    Business     Australian Dollar, Growth Spurt, Interest Rates, Overseas Investments, Raw Materials, Us Dollar

Japan Business

The energy drought is being felt most severely not in the relatively rural Tohoku region, where the tsunami did its greatest damage, but in Kanto just to the south of it. It’s the nation’s most populous region, with Tokyo at its heart, and the six now-infamous reactors of Fukushima Dai-Ichi generated a little under a tenth of its energy. Tokyo Electric Power has put most of the Kanto region under a schedule of rolling blackouts. When people turn on their air conditioners come summer—a season that usually taxes the region’s power grid—the gap between electricity demand and supply is only going to widen. Dealing with that won’t be easy: Japan is already among the world’s most energy-efficient countries. read more

admin    Business     Air Conditioners, Barclays, Barclays Capital, Bcs, Demand And Supply, Dim Prospects, Drought, Electricity Demand, Energy Conservation Measures, Gross Domestic Product, Japan Business, Kanto, Kanto Region, Populous Region, Power Grid, Reactors, Rolling Blackouts, Tohoku, Tohoku Region, Tokyo Electric

Llyod

Lloyd’s of London has said it will have no problems dealing with the Japanese earthquake. The company has said it is confident that there is enough capital in the Lloyd’s chest to withstand forthcoming payouts of up to 45 billion euros. Lloyd’s has said it will give first estimates of how much the quake will actually cost it by May.

The world insurance market is made up of over 70 competing insurance and reinsurance syndicates who provide disaster cover. Sector leaders Munich Re and Swiss Re are also expected to be highly exposed to claims resulting from the earthquake

admin    Savings Account     Disaster, Estimates, Euros, Exposed, Insurance, Insurance Market, Japanese Earthquake, Lloyd S Of London, Munich, Quake, Reinsurance, Sector Leaders, Syndicates, World Insurance, World Market