it's the top of the hour. i'm james tengan in tokyo. nhk "newsline" starts off with a quick look at the hour's top stories. fresh faces. japan's prime minister has revealed his new team. he's appointed ten new ministers in a cabinet reshuffle. more missile launches. but in a first, the warhead of a north korean missile has fallen
into waters of japan's exclusive economic zone. and from crisis to opportunity. hong kong investors are using the brexit fallout to grab cheap real estate and other discounts. japanese prime minister shinzo abe says he has formed a new cabinet to expedite his policies. abe says his cabinet will chae tangible results after gaining a stable base in the upper house election. >> translator: we will keep taking on future challenges. we will never stop our efforts to overcome challenges. >> abe stressed his top priority is to accelerate his economic policies knowns as abenomics. >> translator: yesterday i decided on a measure which exceeds 28 trillion yen in its size.
i will submit the budget for bold investment in the future at the ordinary session of the diet in autumn. i will mobilize all possible measures to stand against the risks of the global economy and raise the velocity to the maximum level. >> abe also stressed his commitment to pursuing global diplomacy citing what he called increasingly severe security situations in the region. >> translator: we will seek to strengthen our relationship with china, south korea, and our neighboring countries and continue to advance the japan/russia peace treaty negotiations in a steady manner. today north korea fired ballistic missiles once again. we will work closely with united states, korea, and the rest of the world to deal with the situation in a resolute attitude. >> the cabinet includes ten new ministers.
abe named inada as defense minister. she's been the policy chief of the democratic party. she is the second woman to take the post. abe picked one of his close aides seko to be industry minister. he changed the portfolio who is in charge for the tokyo olympics and paralympics. some kept the jobs they had since abe took office in 2012. taro aso, fumio kishida, and yoshihide suga. nhk world's hiroyuki joins us in the studio. what did you make of the reshuffle? >> yes. from his action it is clear he placed great importance on
keeping a stable administration. he retained 9 of the 19 ministers in his cabinet. and he kept keys in place. including taro aso, fumio kishida, and yoshihide suga. these ministers strongly support abe and won his trust. abe has won four national elections and secured a solid basis within in party. so he didn't have to worry about any strong opposition about the reshuffle. he could minimize the reshuffle level and make it easy for him to keep it stable. in that context, inada appointment as finance minister says a lot. it reflects his trust in her. >> what does abe expect of his new cabinet? >> he has always maintained the economy is his top priority.
and he needs a team that will work to beat deflation and revive the economy. wage growth in japan has fallen short. the stronger yen has also eaten into earnings of export-related firms, britain's decision to leave the eu, and china's economic slowdown are also risk factors. in june abe decided to postpone a planned consumption tax hike to 2019. and on tuesday, he announced a new stimulus package worth more than $270 billion. his administration estimates this will push up japan's gdp by about 1.3% in the short-term. abe said the new cabinet lineup is aimed at quickly implementing these measures. >> what other challenges is the new cabinet facing? >> there are a few pressing
issues. his government plans to approve the stimulus package at the diet during an extraordinary session in september. abe wants the diet to quickly enact it. during the session, abe's also aiming to enact key other bills including those to push back the consumption tax hike and approve the world's largest free trade pact. the tpp. >> thanks for your insight. the u.s. military says north korea launched two ballistic missiles. one fell in the sea of japan. it says the missiles were fired from the west of north korea. japan's defense minister says one appears to have fallen into waters of its exclusive economic zone. it crashed into the sea of japan some 250 kilometers off the
country's coast. it's the first time a warhead of a north korean missile has fall sboon the zone. the u.s. military said both missiles appear to be medium range. they only increase the resolve to increase north korea's actions. shinzo abe has also condemned the launches. >> translator: it's an unforgivable act that poses a grave threat to japan's security. it violates u.n. security council resolutions and japan has lodged a protest with north korea for the act. >> abe says japan will deal with the situation while working together with the u.s. and south korea. an nhk team flew over the site where it's believed one of the missiles fell into the sea. our cameraman was there to
capture it. miki matsumoto has exclusive footage merchandise the exclusive economic zone. >> reporter: i'm 150 kilometers above the coast of japan. i'm flying over the area where a known korean missile is believed to have fallen into the sea of japan. i can see some japanese self-defense force aircraft searching for debris. i have seen what looks like debris in the water. bright orange and white. >> and that was our nhk cameraman with exclusive footage of the site. international monetary fund officials say japan has to do more to turn around its economy. we have gene otani from the business desk with more on that and other headlines. >> officials at the imf are urging japan's financial authorities to upgrade their
policies. they're saying the shine has gone off the three-pronged reforms dubbed abenomics. they also want to see stronger labor market reforms. the imf says in the annual report on japan it welcomes the success of shinzo abe's policies but they note growth nevertheless remains subdued and deflation persists. they want to see monetary policy options are limited. imf officials say japan now needs what they call a comprehensive coordinated upgrade of its economic policies. they're recommending stronger incentives for companies to raise wages. they're also pushing for labor market reforms including equal pay for equal work. and they point to the need for restoring japan's fiscal health. they say it needs to gradually raise the consumption tax rate. at least to 15% with increases
from 0.5% to 1% every year while holding down social security costs. checking the markets. wti crude futures encouraged yen buying by risk adverse investors. the dollar dipped below the 101 yen level for the first time in about three weeks. following this move, officials from the japanese government and bank of japan agreed to work more closely to try to maintain market stability. tokyo's nikkei average continued their declines for a second day. our business reporter giang nguyen reports. >> investors are questioning whether stimulus measures from shinzo abe and the bank of japan are enough to jump start the economy. this nikkei fell about 1.9% to
close at 16,083. the broader topix dropped more than 2%. among the worst sectors was the financial sector. banking shares sold off globally following a stress test in europe. shares of nomura holdings fell 6%. sumitomo fell more than 4%. casio computer hit the lowest level in two years. the maker of electronics reported a decline in profits and sales for the first quarter. also crude oil has fallen to nearly four-month lows. inpex fell 0.3%. investors were left unimpressed. traders are now looking to the bank of england which holds its policy meeting on thursday. i'm giang nguyen reporting from the tokyo stock exchange. moving on to other markets,
the shanghai composite up to finish at 2,978. some investors were encouraged to buy as an economic planning agency advised further monetary easing. the benchmark in thailand up by 0.7% finishing at 1,507. hong kong's hang seng index dropping by almost 1.8%. all sectors in the negative one day after a typhoon forced the market to close. it's school holiday time in japan. and for some kids that's an opportunity to learn more about what makes the ecomy tick from banking to shipping. school holiday groups visited the bank of japan for a special seminar about money and the
central bank's role. officials explained special features about bank notes to prevent forgery. the children then took a test counting out notes as quickly as possible. the bank officials also showed them how much 100 million yen weighs. mazda gave children a look at how vehicles are loaded onto a ship for export. they watched cars being moved onto a transport vessel that can carry some 5,000 vehicles. drivers lined up the cars with only a 30 centimeter gap between them. they appeared to impress many of the children. they then learned how to secure a car with belts to prevent damage during a voyage. and major retailers are making the most of the summer break because that's when the entire family can go shopping. many stores are promoting their school backpacks. popular models were displayed
for those who will begin school. priced at about $500 are selling well. something is cooking in the barbecue business. an increasing number of japanese families are gathering on city rooftops this summer. nhk world's john ladue explains why. >> reporter: easy access. that's one reason cityarbecues are on fire. this building sits above a train station. i'm on the rooftop of this large shopping complex in the middle of the city and there's the lip licking aroma of grilled meat that's driving me crazy. that's because people come here to barbecue. customers bring their own food and drink. staff prepare the grill. and afterwards, they tidy everything up. users pay about $15 per adult. weekends have been fully booked
all summer. >> translator: it's fun and easy eating at a place like this. we just bring the ingredients. >> reporter: so the roof barbecue doesn't just benefit the owner of the building but also all is the tenants down below. there's a grocery store in the basement. the barbecue site offers a 20% discount to customers who buy their ingredients here. >> translator: sales have risen about 4% to 6%. we expect more growth during the summer vacation. >> reporter: the whole operation is run out of this office. takahashi is company president. takahashi says the secret sauce to his business is accommodating as many people as possible. rooftop space is limited and conventional grills need extra space to do the cooking. takahashi decided to place the grill in the middle of the table allowing diners to stay seated.
this simple trick doubles the number of customers. here's another one. a retractable roof keeps the business rain proof. they now operate six barbecue sites around tokyo. >> translator: i often hear people say they want to he a barbecue. i have added many improvements so that it becomes more accessible and convenient. >> reporter: another company is targeting the high end market. this office building is in the heart of tokyo. with a japanese garden, the rooftop is a place to relax. the barbecue operator rents the space on weekends. the pitch here is privacy. single group bookings only. its run by a 2-year-old venture business. unlike other cooking spots, this one provides food. and not just any food. the menu draws on recipes from around the world. >> translator: the ingredients
were topnotch. my taste buds are tingling. >> reporter: the quality and taste of the food can make or break the business. the company researches exotic flavors and condiments. like this coriander based sauce. they use different amounts of salt to get just the right taste. the company also sells them online. >> translator: selling online has no borders. we can target barbecue businesses and ordinary customers around japan. which enables us to maximize our profit for our eight-month season. >> reporter: rooftop cooking is taking off and with an estimated 24 million japanese joining a barbecue every year, it's a business with plenty of room to grow. john ladue, nhk world. >> and you can catch our entire report again online together
with a full transcript. look for nhk world and business wrap. that's it for this segment. i'm going to leave you with the markets. you're watching nhk "newsline" live from tokyo. we have breaking news out of dubai now. local media is reporting that an emirates airline flight was involved in an incident while landing at dubai international airport. images show black smoke billowing from the plane which arrived from india. uae authorities said through social media that all passengers were evacuated and there are no reports of injuries. we'll keep you updated on this story as we get more details.
protesters rushed the stage at an electoral meeting in hong kong on tuesday. they were protesting a ban on six pro independence candidates from taking part in next month's legislative election. [ yelling ] the electoral affairs said last month they have to agree hong kong is an inalienable part of china. >> translator: we are completely outraged. we are concerned that the government will continue to destroy the institutions of hong kong. >> the disqualified candidates plan to hold a protest in the run-up to the september 4 election. beijing has denounced the pro independence movement as a way
to split the country. hong kong has declared autonomy from china. many asian investors are worried about the long-term fallout from britain's vote to leave the eu. but some are celebrating. they say tee it as a rare opportunity. >> reporter: people in hong kong heard the news of the brexit vote and rushed out to banks. they started buying up. >> translator: my sons are starting in the uk. i made enough to cover their expenses. >> reporter: hong kong families have packed their children off to uk boarding schools to study. now they have another reason to contemplate the value of a british education. >> translator: it's great that i can cut tuition fees and living
expenses. >> translator: some students who were planning to study in australia or new zealand are now shifting their focus to britain. >> reporter: some investors are getting the funds in order to target british real estate. they say it makes more sense to buy than to pay rental fees. because later they can sell for a profit. >> translator: after brexit inquiries shot up by 30% for the last three weeks. >> reporter: wintao is now building king. he has a property portfolio that's worth many hong kong dollars. he typically buys when prices sink. for example, after the 2003 sars
outbreak. he waits until prices recover then sells for a handsome gain. >> translator: every crisis brings an opportunity. investment is all about timing. >> reporter: now lai has set his sights on london. he expects office prices to tumble as firms leave for other eu countries. but he thinks commercial real estate will go up as it draws more tourists. >> translator: i keep shopping because of the cheaper pound. >> reporter: lai plans to buy properties along this high end street. he's preparing to splash more than $100 million. >> translator: it's like a discount sale for me. the cheaper pound has brought london prices down by 10% to 20%. now is the time to invest.
>> reporter: many have kept close links to the old colonial power since their city returned to chinese rule 19 years ago. now they're set to reap the rewards. nhk world, hong kong. jonathan oh from our weather desk joins us with the world outlook starting with the u.s. >> hello. we're talking about some flash flooding that's taking place in the desert southwest as we have the american monsoon taking place typically around this time of year. we have moisture coming out of the pacific ocean and that brings a bit of rainfall into what typically is a dry region of the united states. let me show you some video coming out of phoenix, arizona. this will give an idea of what took place on tuesday. a portion of the city was under water after heavy rain caused flash flooding. 254 millimeters of rainfall was reported in maricopa county.
freeways and roads as you can tell right there, they were covered with water and mud was also part of the problem here. so the vehicles were stuck inside the watery mess. and on top of that flash flood watches still in effect in much of arizona and new mexico. typically when we talk about high pressure areas, we're not really talking about wet weather. but because of the way this particular high is set up, it's pushing in the moisture from the south and that's turning into a wet pattern. and it's going to last for a little bit because this is what we usually see. the sfting of the winds tha keeps the area a bit wet as we go throughout the month of august. so have the umbrellas handy. this could impact areas from the far southern portions of california to nevada and also utah and even into colorado. meanwhile we've been watching a very wet pattern for the southern portion of the united states. that will remain in place for wednesday with thunderstorms from houston, atlanta, into miami. a little bit drier toward the
north. they actually do need a drier pattern. d.c. looking at a high of 28 with partly cloudy skies for the middle of the week. we go down towards the south and we're keeping an eye on a new tropical storm named earl. this system is moving to the west at 23 kilometers per hour. we are expecting this thing to ratchet up and become a hurricane within the next 24 hours. hurricane warnings are posted from the southern portions of the yucatan peninsula. as we go through the next 48 hours, it'sxpected to come on shore. weaken quickly but bring in a t of rainfall in the process. up to 150 millimeters of rainfall. flooding will be of some concern as we go forward in time. looking at the forecast for europe now, it has been a bit active for the central portions of the continent. we are seeing some unstable weather. a few tornadoes even were reported through the day on tuesday. we go on to wednesday, we do have a low that's coming on shore.
that's going to bring some rain, possibly even some thunderstorms going forward in time. some showers continuing over towards moscow and kiev. rain extending in warsaw. still hot towards the south. 34 in rome and 37 in madrid as we go throughout the day on wednesday. now, as you look at what's happening in east asia, let me first dect your attention into china where there's a tropical depression. nevertheless, it has a lot of moisture with it. into places west of there. look out for that. hong kong also dealing with rainfall. meanwhile in japan we have a scattered rain set that will bring it down over isolated areas. going into the evening hours and thursday. we are looking at a more drier pattern coming up starting on thursday and lasting for the rest of the week. hope you have a good day wherever you are. here's your extended outlook.
anchor: you are watching "france 24." syrian rebels and government troops trade accusations over the use of chemical gas on civilians in a town southwest of aleppo. the fighting has reached new heights. violenceople have fled in south sudan in three weeks. most of them, women and children. the number has doubled the past