Connect with us

Economy November 18, 2021

Japan plans for a huge economic stimulus package

Published

on

According to the Nikkei newspaper, the new Japan economic support plan that the government is finalizing will reach a record amount of 55.7 trillion yen ($486.50 billion). Including massive direct aid planned for low-income households and small businesses to mitigate the impact of the Covid-19 crisis.

japan economy nikkei

The scope of the plan demonstrates new Prime Minister Fumio Kishida’s ambition to resurrect Japan’s economy. It has been struggling more than other major economies to recover from the shock of the Covid-19 epidemic.

According to Nikkei, the government is likely to issue additional debt to partially fund the big plan. Which should reach 78.9 trillion yen including spending planned for later.

The government and leaders of the ruling Liberal Democratic Party (LDP) are nearing completion on the proposal. It will be revealed on Friday and will be more valuable than the two economic stimulus packages passed last year.

“Direct aid and subsidies should be distributed as soon as feasible,” a government source said.

Following this news from the Japanese press, the Tokyo Stock Exchange went green. It indicated that the proposal was for a much larger sum than the 40,000 billion yen maximum projected by the markets. Despite this, the Nikkei index ended the day down 0.3 percent.

INVESTORS BEWARE OF NEW DEBT

Some analysts question that this proposal will be sufficient to provide long-term economic and market support.

In the July-September period, Japan’s economy fell more than projected. Mainly as supply issues and the resumption of the coronavirus outbreak weighed hard on company investment and consumption.

“Even if the government issues fresh debt, the total amount will most likely be in the range of 20 trillion yen. This is an amount that the markets can readily handle “Hiroaki Muto, an economist at Sumitomo Life Insurance, acknowledged as much.

“To keep interest rates from rising, the Bank of Japan is controlling the yield curve, which means it is virtually committed to buying an endless quantity of government debt.”

For MetaNews.

Jonathan Hobbs is an Australian investor and author that trades on a variety of asset classes, including currencies, equities, and commodities. Jonathan’s experience as a macro trader leverages his unique writing style to combine important elements, such as technical analysis and news. The other elements that he brings into his unique writing styles are foundation analysis aimed at rational equilibrium values, evaluating the sizes and motivations of buyers and sellers, as well as identifying the needs of the buyers and sellers in the individual markets. Jonathan is committed to quality writing for new traders as well as veterans.

Economy

Microsoft clearly engages in the metaverse using Q2 earnings call

Published

on

Satya Nadella, CEO of Microsoft, revealed his vision for the metaverse at the company’s Q2 2022 earnings call.

Overall, the company’s Q2 2022 filing showed a significant increase in cloud-based services. Microsoft reported $51.7 billion in revenue, a 20% increase over the previous year. Intelligent Cloud revenue was $18.3 billion, a 26 percent increase over the previous year. Azure drove a 29 percent increase in sales for server goods and cloud services. As well as a 46 percent increase in revenue for other cloud services.

microsoft

MetaNews.

Among the trends noted by Nadella on the earnings call was a “structural shift in PC demand.”

According to Microsoft CFO Amy Hood, Windows revenue from PC manufacturers increased by 25%, which was “far over expectations”. She stated that demand was being driven by the PC market’s success, particularly in the commercial category.

According to an earnings call transcript obtained on the financial blog site Seeking Alpha, Nadella envisions the metaverse as the next wave of the Internet. “Just as the initial wave of the Internet has allowed anyone to construct a website, I believe the next wave of the Internet will be a more open world where people, whether companies, game developers, or anyone else, may create their own metaverse world,” he stated.

“The first place we see this is the increasing digitization of people, places, and things to truly enable organizations automate operations at the next level,” he explained. “So, today, we have a number of examples of customers engaging with us through Azure IoT, Digital Twins, and Mesh. So that’s what you’ll see in Azure, and we’re investing heavily on it.”

Nadella sees prospects for Dynamics 365 Connected Spaces further up the software stack. This in-development technology is to control physical operations in physical areas such as a store, a connected factory, or a building. “We now have a suite that powers entirely by connected spaces,” he explained. Microsoft’s goal, he noted, is to automate physical operations.

Continue Reading

Economy

Style.me introduces its wearable NFTs in the metaverse

Published

on

Style.me, the industry-leading 3D fashion technology company, has launched a new innovative offering that enables designers to become metaverse-capable creators. In addition this latest step extends the company’s solutions into the world of digital fashion and NFTs. Moreover building on its growing success in virtual fitting and styling.

Style.me

MetaNews.

The company Style.me mints and distributes fashion NFTs

Style.me creates and distributes fashion NFTs, allowing people to wear, share, and use them across the metaverse. In addition, the company gives its partners the ability to bring their physical collections into the digital realm through bespoke “phygital” experiences.

The company Style.me’s plug-and-play technologies will allow metaverse projects to make digital fashion accessible to their communities. New experiences, such as virtual runway presentations, exhibitions, and live events, will be possible for designers and companies.

Style.me, with its 3D and AR technologies, is at the forefront of making digital fashion more accessible

Fashion NFT utilities are now limited, and Style.me is at the forefront of making digital fashion more accessible with its 3D and AR technology.

Style.me’s President, Rufus Parkinson, stated. “Style.me’s mission has been to enable consumers to see and interact with fashion in the digital environment since its inception. We believe that digital fashion and NFTs will alter the industry by allowing us to leverage our patented technology to open up a new dimension of user experiences.”

Combined with blockchain technology and the rapid expansion of the metaverse, digital fashion will explode in the next few years. Morgan Stanley estimates that the premium digital fashion sector alone will reach $20 billion by 2030.

Style.me’s goods are already in high demand, with consumption rising 386 percent in the last year, and this additional fashion NFT offering offers up even more prospects for growth in the digital fashion industry.

Continue Reading

Economy

Metaverse: Tencent is updating QQ with the Unreal game engine

Published

on

According to an upgraded version of the program, Tencent Holdings has stealthily integrated the Unreal Engine video game engine into its increasingly obsolete QQ messaging network. Hence, analysts believe the move is part of the social media and gaming giant’s entrance into the metaverse.

metaverse tencent

According to LibChecker, a third-party app inspection tool, the Shenzhen-based company updated QQ last month. The new version, which was formerly a chat app, includes portions of the Unreal Engine video game engine.

Tencent launched a new app feature called Super QQ Show, which is a 3D interactive arena where users can socialize, watch shows, and play games, at the same time as the update. As a result, observers claim the move is Tencent’s latest attempt to establish a footprint in the metaverse.

Resuscitating QQ.

The decision also demonstrates Tencent’s commitment to resuscitate QQ, its second most popular messaging platform behind WeChat with 590 million monthly active users, which had fallen out of favor in recent years as Chinese netizens shifted their attention to short videos and other platforms.

In China, the metaverse is gaining traction. Although the country has not yet developed a national plan for the concept, like South Korea has, officials in some key cities have pushed businesses to investigate it. For example, one of four frontiers to explore in Shanghai’s future five-year plan is the metaverse.

The Super QQ Show is currently under testing by a small number of users. Tencent staff uploaded screenshots and video footage of the functionality. Which shows players dressing up their avatars in 3D, decorating their homes, and visiting others. Thus similar to Nintendo’s Animal Crossing video game franchise.

The Unreal Engine is utilized in successful games such as Bioshock and Mass Effect. Tencent owns a 40% share in Epic Games, which operates the engine in the United States. Last year, Epic Games was one of the first worldwide tech behemoths to make metaverse development a top priority. Epic’s flagship game, Fortnite, considered as one of the market’s leading metaverse initiatives.

For MetaNews.

Continue Reading

Latest News

Advertise With Us

Unlock a wide range of advertising
opportunities with MetaNews to reach the
fast-paced meta world.

Publish Your PR

Share your press release with
MetaNews’s growing global audience,
fans, and followers.

Subscribe

Sign up here to get news & updates right to your inbox!

Copyright © 1997 – 2022 MetaNews All Rights Reserved

Copyright © 1997 - 2022 MetaNews All Rights Reserved