Japan, S. Korea to double size of currency swap deal
February 4, 2006Japanese Finance Minister Sadakazu Tanigaki and South Korean Finance and Economy Minister Han Duck Soo agreed Saturday that the two nations will increase the size of a bilateral currency swap arrangement to $15 billion from $7 billion as part of efforts to rev up Asian financial cooperation. Tanigaki and Han also agreed during the first annual bilateral finance ministerial meeting that it is desirable for China to further loosen its grip on the yuan, which they said would benefit the Chinese and world economies, a Japanese Finance Ministry official said.
Private jet ordered by investment fund managing Horie's assets
February 4, 2006An investment fund that manages disgraced Internet entrepreneur Takafumi Horie's personal assets ordered a private jet from a U.S. aircraft maker worth $47 million (about 5.6 billion yen), sources involved in the deal said Saturday. The fund dubbed ''Horiemon'' -- which is also the nickname of the former Livedoor Co. president -- already paid a deposit to the maker and the manufacture of the jet appears to have started for shipment in March next year, the sources said.