November 21, Thursday, 2024

1. When Japan’s Liberal Democratic Party and partner Komeito lost their combined majority in the Lower House of the Diet in October’s general election, it pushed them into cooperating with the opposition. The ruling coalition and the Democratic Party for the People have agreed on a draft revision of a new economic stimulus package that includes the DPEP’s ideas to raise individuals’ minimum annual income that is subject to taxation—the typical worker’s tax-free allowance. However, skeptics say the reforms could end up costing central and local governments tax revenues of more than 7 trillion yen every year.
2. The Ukrainian Air Force says Russia launched an intercontinental ballistic missile in an attack on eastern Ukraine on Thursday. Reuters news agency reports this is the first time Russia has used an ICBM against Ukraine since the invasion began in 2022.
3. Japanese semiconductor maker Kioxia Holdings is expected to be listed on the Tokyo Stock Exchange next month after years of postponement.