The raising of the taxes in Japan should increase the funds for reconstruction of areas devastated by the earthquake and tsunami of 11 March, the government offered expert committee. It is not clear whether recommendations are binding on the political tension surrounding the Prime Minister Naoto Kan. The Commission proposal provides a basis for establishing the costs of restoring the northeastern parts of Japan, which was devastation by an earthquake of magnitude 9.0 and deadly tsunamis, which are expected to be over 10 trillion yen (124 billion dollars). The government plans to Cannes next month to present to parliament a small additional budget to overtime budget of 4 trillion. yen, approved in May, to combat the effects of natural disasters. Yesterday the government adjusted its assessment of material damage from the disaster to 16.9 trillion. yen, which is below the original estimates of 16-25 trillion yen.
Read the full story

The Chinese government announced that it would strengthen controls over the projects for mergers and acquisitions by foreign companies in order to “safeguard national security” – an initiative that could limit the ambitions of some companies from abroad. The Chinese government said it will establish a body to examine foreign investment in the national defense, agriculture, energy, natural resources, infrastructure, transport, technology and industrial facilities. This body will be placed under the control of the National Development and Reform and the Ministry of Commerce, reported on your site Chinese government. The foreign investment will be judged according to their economic and social stability of China and the country’s ability to continue research and development activities concerning technologies relating to homeland security, noted in the message. The country is realizing good financial policy and just a few months ago was claimed as a second economy force in the world.

The sales of new cars in Europe are still maintained in some countries by government incentives, increased by an average 12.9 percent in January on an annual basis, figures released today data on the association of European car manufacturers. In EU countries, excluding Cyprus and Malta for months have sold 1 058 868 new cars, but to include Iceland, Norway and Switzerland, the number reached 1 085 894 cars (+13% yoy). For the first time the association provides separate statistics for individual Member States and to include information listed three states. According announced earlier this month, data from Association of Automobile manufacturers and their authorized representatives in Bulgaria for January in our sales have decreased by 47% compared to January 2009. The largest decline for the first month of 2010 is recorded on the market in Romania (-84.6%) and highest growth – this in Portugal (62%). In Britain, sales increased by nearly 30% to 145 479 units, in France has increased by 14.3 percent to 171 478 number in Spain is rising by 18% to 70 130 units, and in Italy are registered growth of 30.2% to 206 341 units. Germany, however, reported a fall of 4.3% in car sales annually to 181 189 pieces in January.
Read the full story