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This spicy, slurpy, steaming Japanese dish is more than just a tourist attraction

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Despite its popularity, ramen establishments in Japan had faced challenges amid the pandemic. However, innovative solutions like home delivery services and packaged ramen kits offered a lifeline to struggling businesses.

In Tokyo, queuing for hours for a bowl of this savoury dish is a common sight. Despite its humble origins, a piping hot serving of ramen seldom disappoints, offering a comforting respite to its eager patrons.

Typically prepared before patrons’ eyes in modest eateries, ramen prices start at around 1,000 yen (450), boasting a variety of flavours and regional adaptations. From the classic salty “shoyu” or “miso” variations to fiery renditions infused with chili, ramen caters to diverse palates. Some variants even eschew soup entirely, opting for noodles dipped in a flavourful sauce.

Compared to the denser buckwheat noodles like “soba” or “udon,” ramen’s curly strands offer a lighter texture, further enhancing its appeal.

Beyond Japan, ramen’s popularity has soared, with the United States witnessing a 72% increase in retail sales since 2000, totaling over $1.6 billion in sales for the year ending April 13. The dish has found its way into diverse culinary landscapes, with restaurants offering innovative interpretations like Del Taco’s Shredded Beef Birria Ramen.

Also read: Most expensive food items in the world 2024 list — Check how much these rare eatables cost

While instant noodles provide a convenient alternative for home consumption, they pale in comparison to the authentic ramen experience found in restaurants. Momofuku Ando’s invention of instant ramen in 1958, amid post-war food scarcity, remains legendary in Japan, laying the foundation for Nissin Foods’ global success.

For enthusiasts like Frank Striegl, ramen isn’t just a meal—it’s an immersive cultural experience. Guiding tourists through Tokyo’s labyrinthine streets, Striegl introduces them to an array of ramen styles, encouraging exploration and education.

Reflecting on ramen’s enduring appeal, Striegl underscores its universal resonance, likening it to “people’s food” transcending cultural boundaries.

As tourists savour their miniature ramen servings, Striegl delves into the dish’s storied history, tracing its origins to ancient Japan and its evolution into a culinary phenomenon.

Also read: Why is Japan home to the world’s longest-living people? The secret’s in their food habits

For tour participant Katie Sell, ramen embodies comfort, particularly during winter months, fostering camaraderie and enjoyment among friends.

Despite its popularity, ramen establishments in Japan have faced challenges amid the pandemic, currency fluctuations, and rising costs. However, innovative solutions like home delivery services and packaged ramen kits offer a lifeline to struggling businesses.

Kenichi Nomaguchi, co-founder of Gourmet Innovation, highlights ramen’s global allure, positioning it alongside animation as Japan’s most successful exports. Nomaguchi attributes ramen’s complexity and depth of flavour to its intricate preparation, involving hours of simmering stock and a myriad of ingredients.

From traditional toppings like bean sprouts and barbecued pork to unconventional variations like coffee-infused ramen, the possibilities are endless. Jiro-style ramen, characterised by towering vegetable heaps and generous pork servings, exemplifies ramen’s fusion of taste and spectacle.

For Kota Kobayashi, proprietor of “Ore No Ikiru Michi,” ramen represents a way of life—an ethos that extends beyond culinary excellence. Kobayashi emphasizes the importance of ambiance and hospitality, ensuring patrons leave not just satisfied but entertained.

As customers return to his restaurant, Kobayashi’s warm greeting fosters a sense of belonging, epitomizing the spirit of ramen—a dish that transcends mere sustenance to become a cultural phenomenon cherished by all who partake.

(With inputs from AP)

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Japan erects 8-foot wall to ward off tourists trying to take perfect image of Mount Fuji

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The decision to erect the eight feet barrier is similar to the action taken in places like Austria’s Hallstatt, which faced a surge in tourism due to its resemblance to the animated film “Frozen”.

A charming town in Japan is taking drastic action to address the issue of overtourism as travellers flock a bustling convenience store to get the perfect photo spot of the iconic Mount Fuji.

Fujikawaguchiko, nestled at the base of the Yoshida Trail leading to Mount Fuji, has been overwhelmed by the influx of foreign visitors vying for snapshots of Japan’s iconic peak. Particularly popular is a viewpoint outside Lawson’s, a convenience store, offering a striking contrast between its neon-lit facade and the serene backdrop of the scenic mountain.

Faced with mounting issues of littering and disregard for traffic regulations despite repeated warnings and the presence of security personnel, local authorities have decided to install a large mesh barrier to obstruct the view, a CNN report reveals.

Also read: Misbehaving tourists force authorities in Japan to shut alleys of renowned geisha district

The decision to resort to such measures reflects the town’s frustration with the situation. An unnamed official lamented the necessity of the action, citing ongoing challenges with tourist behavior.

The mesh barrier, towering eight feet high and stretching 66 feet across, is scheduled for installation early next week, marking a symbolic effort to reclaim control over the town’s environment.

Located in Yamanashi prefecture, Fujikawaguchiko lies to the north of Mount Fuji, approximately 62 miles (100 kilometers) west of Tokyo. The town’s plight is emblematic of broader overtourism issues plaguing Japan since its reopening post-pandemic in late 2022.

Also read: As tourists flock to Japan, Tokyo to get a new immersive shopping and dining hotspot

March 2024 witnessed record-breaking tourism figures, with over three million foreign visitors entering the country, exacerbating the strain on Mount Fuji’s fragile ecosystem. The influx of tourists, drawn to the UNESCO World Heritage site, has led to environmental degradation and littering, prompting concerns among local authorities.

Masatake Izumi, a Yamanashi prefectural government official, highlighted overtourism as a pressing issue, describing it as the primary challenge confronting Mount Fuji. The mountain, revered as a national symbol, has sadly earned the moniker “trash mountain” due to the accumulation of waste left behind by careless visitors.

In response, Yamanashi’s prefectural government has implemented measures to mitigate overcrowding, including a daily hiker limit of 4,000 individuals and the enforcement of a mandatory fee of 2,000 yen ($13) per person, previously optional.

The decision to erect a barrier echoes similar actions taken elsewhere, such as in the Austrian town of Hallstatt, which faced a surge in tourism attributed to its resemblance to the animated film “Frozen”. In May 2023, Hallstatt installed a wooden fence to deter selfie-takers amidst concerns over unsustainable tourism practices.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Japan’s moon lander survives 3 months despite lack of preparation for lunar night

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

SLIM on January 20 landed the wrong way up with its solar panels initially unable to see the sun, and had to be turned off within hours, but powered on when the sun rose eight days later.

Japan’s first moon lander has survived a third freezing lunar night, Japan’s space agency said Wednesday after receiving an image from the device three months after it landed on the moon.

The Japan Aerospace Exploration Agency (JAXA) said the lunar probe responded to a signal from the earth Tuesday night, confirming it has survived another weekslong lunar night.

Temperatures can fall to minus 170 degrees Celsius (minus 274 degrees Fahrenheit) during a lunar night, and rise to around 100 Celsius (212 Fahrenheit) during a lunar day.

The probe, Smart Lander for Investing Moon, or SLIM, reached the lunar surface on January 20, making Japan the fifth country to successfully place a probe on the moon. SLIM on January 20 landed the wrong way up with its solar panels initially unable to see the sun, and had to be turned off within hours, but powered on when the sun rose eight days later.

SLIM, which was tasked with testing Japan’s pinpoint landing technology and collecting geological data and images, was not designed to survive lunar nights.

JAXA said on the social media platform X that SLIM’s key functions are still working despite repeated harsh cycles of temperature changes. The agency said it plans to closely monitor the lander’s deterioration.

Scientists are hoping to find clues about the origin of the moon by comparing the mineral compositions of moon rocks and those of Earth.

The message from SLIM came days after NASA restored contact with Voyager 1, the farthest space probe from Earth, which had been sending garbled data back to Earth for months.

A US lunar probe developed by a private space company announced termination of its operation a month after its February landing, while an Indian moon lander failed to establish communication after touchdown in 2023.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Japan ‘very close’ to currency intervention, former forex chief says

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

“Amid no change in US and Japan interest rates, the yen has depreciated against the dollar quite rapidly,” said Mitsuhiro Furusawa, former vice minister of finance for international affairs, in an interview with Bloomberg on Tuesday.

Japan is on the brink of currency intervention if the yen weakens any further, according to one of the country’s former top currency officials.

“Amid no change in US and Japan interest rates, the yen has depreciated against the dollar quite rapidly,” said Mitsuhiro Furusawa, former vice minister of finance for international affairs, in an interview with Bloomberg on Tuesday.

“Should this trend continue, intervention will come,” Furusawa said, adding that “we are very close.” He cited market reaction to US data as a factor that may nudge Japanese authorities to act and pointed to last week’s joint statement between Japan, the US and South Korea as an indication that Tokyo’s allies won’t stop it entering the market.

The comments from the former finance ministry official come with Japan’s currency close to Tuesday’s fresh 34-year low of 154.88 against the dollar. Finance Minister Shunichi Suzuki reiterated Tuesday that authorities are prepared for action to address the situation.

The yen continues to look vulnerable with a Bank of Japan meeting this week and the Federal Reserve’s preferred gauge of inflation due out later on Friday.

Furusawa sees the possibility of the BOJ raising interest rates again as early as July, but, like almost all economists surveyed by Bloomberg, he expects no rate change on Friday.

Market participants and policymakers are wary that the widely expected stand-pat decision on Friday after last month’s historic rate hike may trigger another slide in the currency.

Allowing market players to push the exchange rate can’t be tolerated, Furusawa said. “No one thinks it’s a good idea to leave speculators unchecked,” he said.

Furusawa expects Japan’s authorities to step into the market before the currency reaches 160 yen to the dollar. Some market participants, such as Bank of America Corp., foresee the yen sliding further to 160.

Japan spent around $60 billion intervening in currency markets in September and October of 2022 when the yen approached the 146 and 152 levels.

Last week, Suzuki issued a rare joint statement with US Treasury Secretary Janet Yellen and South Korean Finance Minister Choi Sang-mok in Washington, stating that they would continue to consult closely on foreign exchange developments. The three nations also acknowledged the serious concerns felt by Japan and Korea over the recent sharp depreciation of their currencies.

“With the statement, it’s hard to imagine the US will stop Japan if it actually takes action,”said Furusawa, while noting that the statement does not give Japan a complete go-ahead to intervene.

The main factor behind the recent weak yen is the rate differential between Japan and US, according to Furusawa, who now heads the Institute for Global Financial Affairs at Sumitomo Mitsui Banking Corp. Furusawa previously served as the finance ministry’s top currency official from 2013 to 2014 before joining the International Monetary Fund as deputy managing director.

The difference in policy rates between the two countries looks set to remain unchanged until the summer at least, with surveyed economists flagging October as the most likely month for the BOJ to move again.

Governor Kazuo Ueda reiterated in parliament on Tuesday that it’s appropriate to maintain an accommodative environment for a spell, while in the US, Fed Chair Jerome Powell and other officials have signaled that it’ll take longer to cut rates.

“A July hike is a possibility if the bank is convinced it can raise rates after the effects of the income tax rebate and wage hikes are seen,” said Furusawa, referring to a one-off tax break for households dealing with elevated levels of inflation. Unions have secured their biggest annual pay raises in decades this year starting from April.

At its upcoming meeting, the BOJ is expected to project 2% price growth in the fiscal year beginning in April 2026, partly reflecting the optimism surrounding wages and prices. If the bank does so, that may support the case for a July move, Furusawa said. The BOJ could then hike again later in the year, he added.

Weakness in the yen could also be a motive for the bank to move if that starts to affect inflation, but changing monetary to correct currency trends would be difficult, he said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Magnitude 6.3 earthquake strikes Japan, no tsunami warning

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Despite the 6.3 magnitude quake, there were no tsunami warnings. Initial reports indicated only minor injuries and damage.

Japan on Wednesday, April 17 was jolted by a magnitude 6.3 earthquake. The epicentre of the quake was situated in a channel flanked by Kyushu and Shikoku islands, about 18 kilometers west of Uwajima, with a depth of roughly 25 kilometers, according to the US Geological Survey.

The Japan Times reported that despite the quake, which struck at 11:14 pm, there were no tsunami warnings. Initial reports indicated only minor injuries and damage.

“In areas the jolt was strong, please don’t approach any dangerous areas. There is no risk of tsunami caused by this earthquake,” the Japan Meteorological Agency (JMA) said on social media platform X.

According to reports from NHK, the company managing the Ikata nuclear plant in Ehime prefecture, where one reactor is operational, confirmed that there were no abnormalities detected.

Speaking at news conference, Chief Cabinet Secretary Yoshimasa Hayashi stated that there were several light injuries reported. NHK also mentioned minor damages in certain areas, such as broken water pipes, fallen streetlights, and a landslide affecting a national roadway.

With its reputation for high seismic activity, Japan is no stranger to earthquakes, contributing to around one-fifth of all earthquakes globally with a magnitude of 6 or above.

March 11, 2011, marked a significant disaster for Japan as the northeast coast was struck by a magnitude 9 earthquake, the strongest ever recorded in the country. This seismic event was followed by a colossal tsunami, resulting in the worst nuclear crisis since the Chernobyl incident twenty-five years prior.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Most expensive food items in the world 2024 list: Check how much these rare eatables cost

No 5. Edible gold | Available in all countries | Mostly used to garnish exquisite dishes, edible gold does not have any taste put is used on dishes for its aesthetic appeal and considered a symbol of wealth. A 25-sheet booklet of edible gold that weighs approximately 22.7 grams is available for around Rs 1,000 in India.
American travel blogger and vlogger, Drew Binsky, who has visited every country in the world is a well-versed epicurean and enthusiastic explorer of culinary wonders. Not only has he carved a niche for himself in the domain of lavish dining escapades, buthas developed a discerning palate for culinary excellence. The 32-year-old, who holds the Guinness World Record for the fastest time to pack a suitcase, lists out the 10 most-expensive foods in the world. Let’s take a look at what these foods are, their origin and how much they cost. (Image: Shutterstock)
No 10. Luwak coffee | Origin: Bali, Indonesia | Fermentation process and labour intensive work make it the 10th most expensive coffee in the world. One kilogram of luwak coffee costs Rs 54, 860 in India. (Image: Reuters)
No 9. White truffle | Origin: Italy | Special Hunting dogs are needed to find these roots. In 2023, a Hong Kong bidder purchased 1 kg of a giant Alba White truffle for $14,645 at an auction in Piedmont, Italy. In India a kg of the rare root would cost Rs 2 lakh. (Image: Reuters)
No 8. Wagyu beef | Origin: Japan | Although available only in a few select states and hotels in India, the most basic Wagyu beef can cost up to Rs 40,000 per kg. The cattle that the meat comes from are fed beer and are often given massages. (Image: Shutterstock)
No 8. Wagyu beef | Origin: Japan | Although available only in a few select states and hotels in India, the most basic Wagyu beef can cost up to Rs 40,000 per kg. The cattle that the meat comes from are fed beer and are often given massages. (Image: Reuters)
No 7. Almas Caviar | Origin: Caspian Sea | The eggs of the albino Beluga Sturgeon fish are literally called diamonds. They are mostly sold in a 24-carat gold tin, resembling the eggs' exclusivity and luxury. (Image: Shutterstock)
No 7. Almas Caviar | Origin: Caspian Sea | The eggs of the albino Beluga Sturgeon fish are literally called diamonds. They are mostly sold in a 24-carat gold tin, resembling the eggs’ exclusivity and luxury. (Image: Shutterstock)
No 6. Blue Fin Tuna | Origin: Japan | This fish is mostly used in sushi and sashimi dishes. In 2019, a single Blue Fin Tuna was sold at an auction in Tokyo for $3 million setting a new world record.
No 6. Blue Fin Tuna | Origin: Japan | This fish is mostly used in sushi and sashimi dishes. In 2019, a single Blue Fin Tuna was sold at an auction in Tokyo for $3 million setting a new world record. (Image: Reuters)
No 5. Edible gold | Available in all countries | Mostly used to garnish exquisite dishes, edible gold does not have any taste put is used on dishes for its aesthetic appeal and considered a symbol of wealth. A 25-sheet booklet of edible gold that weighs approximately 22.7 grams is available for around Rs 1,000 in India.
No 5. Edible gold | Available in all countries | Mostly used to garnish exquisite dishes, edible gold does not have any taste put is used on dishes for its aesthetic appeal and considered a symbol of wealth. A 25-sheet booklet of edible gold that weighs approximately 22.7 grams is available for around Rs 1,000 in India. (Image: Reuters)
No 4. Birds nest soup | Origin: China | This Chinese delicacy is -- as its name suggests -- the nest built by swiftlets who use their saliva to build their homes. This is so rare, that it is not available in India and is consumed by the wealthiest people in China and around the world for its claimed health benefits. A bowl of bird's nest soup costs as much as Rs 9,000 in China. (Image: Shutterstock)
No 4. Birds nest soup | Origin: China | This Chinese delicacy is — as its name suggests — the nest built by swiftlets who use their saliva to build their homes. This is so rare, that it is not available in India and is consumed by the wealthiest people in China and around the world for its claimed health benefits. A bowl of bird’s nest soup costs as much as Rs 9,000 in China. (Image: Shutterstock)
No 3. Yubari King Melon | Origin: Japan: The world's most expensive melon is not sold but auctioned. The best Yubari melons are known for their perfect spherical shape, sweet and vibrant orange flesh.
No 3. Yubari King Melon | Origin: Japan |  The world’s most expensive melon is not sold but auctioned. The best Yubari melons are known for their perfect spherical shape, sweet and vibrant orange flesh. (Image: Shutterstock)
Black Ivory coffee
No 2. Black Ivory coffee | Origin: Thailand | This brew is made with Thai Arabica coffee beans that undergo a unique fermentation process. Basically, the coffee beans are fed to elephants and fermentation begins in the stomach of elephants. The enzymes in the elephant’s digestive system give the coffee a less acidic flavour. As the production of this coffee is low, it costs an exorbitant Rs 2,55,700 per kg. (Image: Shutterstock)
No 1. Matsuba crab | Origin: Japan | These crustaceans are known for their sweet and succulent meat are found around the waters of Japan. In November 2023, a 1.2 kg snow crab of the Matsuba variety was sold for over Rs 55,000.
No 1. Matsuba crab | Origin: Japan | These crustaceans are known for their sweet and succulent meat are found around the waters of Japan. In November 2023, a 1.2 kg snow crab of the Matsuba variety was sold for over Rs 55 lakh. (Image: Shutterstock)
 5 Minutes Read

Joe Biden vows to back Japan, Philippines as China jolts allies

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

“The United States defense commitments to Japan and to the Philippines are ironclad,” Biden said Thursday before a meeting with Japanese Prime Minister Fumio Kishida and Philippines President Ferdinand Marcos Jr. at the White House for the first trilateral summit among the nations.

US President Joe Biden said he was committed to “deepening maritime and security ties” with Japan and the Philippines as he sought to assure allies worried about increasingly assertive Chinese actions in disputed waters.

“The United States defense commitments to Japan and to the Philippines are ironclad,” Biden said Thursday before a meeting with Japanese Prime Minister Fumio Kishida and Philippines President Ferdinand Marcos Jr. at the White House for the first trilateral summit among the nations.

“Any attack on Philippine aircraft, vessels or armed forces in the South China Sea would invoke our mutual defense treaty,” Biden added.

The Philippines under Marcos has adopted a more assertive footing to the growing number of Chinese patrols in the South China Sea, where both nations have competing maritime claims. Tensions are centered around the Second Thomas Shoal, where the Philippines maintains a grounded World War-II era ship. Chinese vessels have used water cannons to block Philippine military missions that rotate and resupply troops on the ship.

The leaders agreed to step-up military exercises, including plans for Philippine and Japanese Coast Guard members to patrol aboard a US Coast Guard vessel in the Indo-Pacific, according to a statement released Thursday evening. The nations also plan to conduct more training exercises at sea.

Maritime security topped the summit agenda following a series of incidents, including Chinese Coast Guard ships firing water cannons last month at a civilian Filipino boat. The three countries joined Australia on Sunday for military drills in the South China Sea.

“We steadfastly oppose the dangerous and coercive use of Coast Guard and maritime militia vessels in the South China Sea, as well as efforts to disrupt other countries’ offshore resource exploitation,” the three leaders said in the joint statement.

At the White House earlier, Kishida said that “as the world faces a complex crisis, it is important that we work in a multi-layered effort with like-minded countries and allies to maintain and strengthen a free and open international order based on the rule of law.”

Biden and Kishida have striven to demonstrate unity with the Philippines, part of a broader US strategy to bolster partnerships in the Indo-Pacific and encourage allies to strengthen their own ties amid growing alarm over China’s military and economic influence. A joint statement issued after Biden met Kishida at the White House on Wednesday for bilateral talks mentioned China repeatedly.

The US sees China increasing the use of coercive tactics and a growing number of countries pushing back, according to senior administration officials who briefed reporters Wednesday before the official announcements.

Biden and Chinese President Xi Jinping discussed the sea confrontations on a phone call last week and reiterated their respective positions, and the Chinese understand that the timing of Thursday’s meeting is keyed to those recent incidents, a senior administration official said in an interview earlier this week.

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Jamie Dimon, Tim Cook, Jeff Bezos attend Joe Biden’s state dinner for Japan’s Fumio Kishida

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

JPMorgan Chase & Co.’s Jamie Dimon, Larry Fink of Blackrock Inc., Apple Inc.’s Tim Cook and Jeff Bezos of Amazon.com Inc. were among the business leaders attending the event, part of a guest list that highlighted the ties between the US and Asia’s second-largest economy.

Leading technology, finance, and media executives gathered at the White House Wednesday for a state dinner honoring Japanese Prime Minister Fumio Kishida, as US President Joe Biden looked to bolster security and economic ties between the two allies with the star-studded celebration.

JPMorgan Chase & Co.’s Jamie Dimon, Larry Fink of Blackrock Inc., Apple Inc.’s Tim Cook and Jeff Bezos of Amazon.com Inc. were among the business leaders attending the event, part of a guest list that highlighted the ties between the US and Asia’s second-largest economy.

Jon Gray of Blackstone Inc., Neil Bluhm, chairman of Rush Street Interactive Inc., International Business Machines Corp. CEO Arvind Krishna, SoftBank chief Masayoshi Son and former Mitsubishi Corp. Chairman Ken Kobayashi are also attending.

Attendees are feasting on a three-course meal that includes house-cured salmon and dry-aged ribeye steak, paired with wines from Washington state and Oregon. While Kishida’s arrival missed the peak bloom of Washington’s cherry trees, many originally gifted to the US by Japan, celebrations of spring dominated the dinner with decorations of butterflies, Japanese gardens, and an artistic depiction of a koi pond. Guests will be entertained by American singer-songwriter Paul Simon.

Many of the attendees nodded to the defense issues that largely dominated Kishida and Biden’s meetings Wednesday — the first official visit by a Japanese leader since 2015 — as the leaders sought to cement their military ties in the Indo-Pacific with an eye to countering China’s growing influence in the region and increasingly assertive behavior. But the visit also saw the leaders unveil a number of initiatives to strengthen partnerships and investment in technology.

Prominent executives from Silicon Valley along with Cook and Bezos included Microsoft Corp. President Brad Smith, whose company announced Tuesday it will invest $2.9 billion over the next two years to boost its hyperscale cloud computing and artificial intelligence infrastructure in Japan.

Sanjay Mehrotra of Micron Technology Inc. and Megan Myungwon Lee, chairwoman of Panasonic Corp. of North America are also attending, alongside Los Angeles Dodgers chairman and CEO of Guggenheim Partners Mark Walter.

Biden also invited two prominent labor allies — David McCall, president of the United Steelworkers and Shawn Fain of the United Auto Workers Union. McCall’s union is opposing a politically contentious deal for Japan’s Nippon Steel Corp. to acquire United States Steel Corp. The high-profile bid has sparked an election-year firestorm with Biden earlier Wednesday reiterating his support for US workers who seek greater concessions in a possible deal.

Kishida has encouraged US investment in Japan around key technologies such as semiconductors, AI and quantum computing, during a luncheon Tuesday in Washington with business executives including Gary Cohn, vice chairman at IBM, and a onetime chief economic adviser to former President Donald Trump, Biden’s general-election rival. Also at that lunch were Pfizer Inc. Chief Executive Officer Albert Bourla, Boeing Co. defense chief Ted Colbert, and Western Digital Corp. CEO David Goeckeler.

Among the celebrities who scored coveted invitations to the state dinner are actor Robert De Niro and Olympic medalist Kristi Yamaguchi. Former President Bill Clinton and Hillary Clinton are also attending along with Treasury Secretary Janet Yellen, Federal Reserve Chairman Jay Powell and New York Governor Kathy Hochul. Also attending is Cecile Richards, the former president of Planned Parenthood.

Biden’s list also includes a number of prominent donors, including Fred Eychaner, Mindy Gray and Michael Sacks, chairman of Grosvenor Capital Management. Sacks hosted a fundraiser for Biden earlier this week in Chicago.

Also Read: India, China should urgently address ‘prolonged situation’ on borders, PM Modi says

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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First Global’s Devina Mehra cautious on market in the near term, adds new names to portfolio

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Devina Mehra, the Founder, Chairperson, and MD of First Global says they have a higher allocation to Japan and the Indian market. She advises keeping market indicators in mind over economic conditions while making investment decisions.

Devina Mehra, the Founder, Chairperson, and Managing Director of First Global, is cautious on the Indian market for the next 2-3 months and advises giving more weightage to market indicators over economic conditions while making investment decisions.

“While I am cautious about the next one to three months, that does not mean that you should be out of the market. I always say that there is a risk of being invested in the market to the risk of a downside, but there is also a risk of not being invested and missing out on an up move,” she said.

First Global, she said, has been overweight on Japan for a year now and on India in its global funds. However, China hasn’t bottomed out yet.

Mehra included some metal companies as part of the quarterly portfolio adjustments.

She is also overweight on auto and pharmaceutical sectors since the beginning of 2023 and added a few names in the spaces during the portfolio rejig. Construction is another sector on her radar.

“IT is one space I am watching for bottoming out this year. But again, still waiting for the signals for that to happen,” she said.

Also Read | Japan’s bond market liquidity improves as BoJ loosens its grip

Mehra believes that unless there is a significant risk of a major crash, which she does not foresee, investors may opt to hedge their positions to be cautious.

“We were hedged up until now, those hedges expired. We are just reevaluating how much to hedge now. But we are not making a big cash call and we plan to be mostly invested,” she said.

Also Read | Fitch cuts China outlook to negative on steady rise in debt

For the entire interview, watch the accompanying video

Catch all the latest updates from the stock market here

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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 5 Minutes Read

Japan starts issuing eVisas for Indian tourists; Here’s how to apply

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

This visa offers a single-entry short-term visa catering specifically to tourism purposes and grants a stay of up to 90 days in the island nation.

Japan has started issuing eVisas to Indian tourists, introducing a system which eliminates the need for physical visa stickers in passports. The innovative programme enables Indians travelling to Japan to electronically apply for visas through the designated Japan Visa Application Centres operated by VFS Global, according to reports.

It offers a single-entry short-term visa catering specifically to tourism purposes and grants a stay of up to 90 days in the island nation.

The citizens of India as well as foreign nationals residing in the country are eligible to apply for this eVisa.

Under the new system, the applicants will have to submit their applications to the Visa Application Centers managed by VFS Global, similar to the process which was previously followed. However, instead of receiving the traditional visa sticker affixed to their passports, the applicants will now receive an electronic visa.

Here’s how to initiate the application process for a tourist visa in Japan:

Step 1. Visit the official website of the Japan Visa Application Centre, managed by VFS Global, at visa.vfsglobal.com/ind/en/jpn/.

Step 2: Click on the ‘Temporary Visitor Visa’ option. Download the visa application form and fill it out accurately. Take a printout and ensure that all required fields are filled.

Step 3: Book an appointment to submit your application form at the Visa Application Centre. You will get an appointment confirmation email containing the letter of appointment.

Step 4: During your appointment, present the visa application form at the centre. Wait for an email notification. You can also track the visa application status online using the reference number from the invoice or receipt issued by the centre.

Under the new process, the successful applicants for the eVisa will receive an electronic visa instead of having the traditional visa sticker attached to their passports. However, travellers will have to display a “visa issuance notice” at the airport as part of the operational process.

Step 5: During the check-in at the airport, display the “visa issuance notice” on your device. The travel agency will provide you with a “Visa Issuance Notice” which contains a two-dimensional barcode. Scan the barcode and type all the necessary details to access the notice. Click on ‘Display’ to view the electronic “visa issuance notice.”

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
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Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?