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Japan’s cabinet approves $316-bn stimulus package to bolster economy

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Japan’s cabinet approves 6-bn stimulus package to bolster economy



Japan’s cabinet has approved a 21.3-trillion-yen ($136-billion) stimulus package—the largest since the COVID-19 pandemic—as part of efforts to bolster the economy, assuage inflation-hit masses and strengthen defence and diplomatic capabilities.

The package includes 17.7 trillion yen of spending, 2.7 trillion yen in tax breaks and 900 billion yen in special account spending.

Inflation in the country has consistently run above the central bank’s target. The headline inflation figure for October rose to 3 per cent from 2.9 per cent, staying above the Bank of Japan’s 2-per cent target for 43 months in a row, while core inflation (minus fresh food) came in at 3 per cent. Finance Minister Satsuki Katayama has also cautioned of yen volatility.

Japan’s cabinet has cleared a $136-billion stimulus package to boost the economy, assuage inflation-hit masses and strengthen defence and diplomatic capabilities.
It would expand local government grants, and provide subsidies for electricity and gas bills.
The support measures will begin in January, amounting to 7,000 yen for a standard household over three months.
Taxes on gasoline will be eliminated.

The cabinet also announced it would expand local government grants, and provide subsidies for electricity and gas bills. The support measures will begin in January, amounting to about 7,000 yen for a standard household over a three-month period, domestic media outlets reported. Taxes on gasoline will be eliminated.

There is also a plan to set up a 10-year fund to enhance the country’s shipbuilding capabilities, and enact measures to raise defence spending to 2 per cent of its gross domestic product by fiscal 2026-27.

The government will compile a supplementary budget bill to fund these measures, and plans to pass it by year-end with help from the opposition.

Prime Minister Sanae Takaichi told reporters the government will use its revenue to fund the package, and any shortfall would be covered via issuing government bonds.

Fibre2Fashion News Desk (DS)



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Cambodia & Canada discuss strengthening economic ties

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Cambodia & Canada discuss strengthening economic ties



Cambodian Prime Minister Hun Manet and Canadian ambassador to the country Christian DesRoches recently discussed strengthening economic ties, while advancing preparations for the 20th Francophonie Summit scheduled for November this year.

In the course of a meeting with Hun Manet at the Peace Palace in Phnom Penh, Ambassador DesRoches expressed appreciation for the long-standing diplomatic ties, highlighting the steady progress in bilateral relations, particularly in trade and Canadian investment in Cambodia.

The envoy underscored his country’s commitment to supporting Cambodia’s successful hosting of the 20th Francophonie Summit. He stressed Canada’s commitment to further strengthening and expanding cooperation between the two countries, especially in trade and economic relations, while also reaffirming support for Cambodia’s development priorities.

Cambodian PM Hun Manet and Canadian ambassador to the country Christian DesRoches recently discussed strengthening economic ties, while advancing preparations for the 20th Francophonie Summit scheduled for November.
The envoy stressed Canada’s commitment to further strengthening and expanding bilateral cooperation, especially in trade and economic ties, and reaffirmed support for development priorities.

He thanked Cambodia for its support in promoting Canada’s economic cooperation with the Association of Southeast Asian Nations (ASEAN) and advancing negotiations for the ASEAN-Canada Free Trade Agreement (ACFTA), expected to be concluded and signed soon, according to Cambodian media reports.

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US CBP to soon launch electronic system for importers to claim refunds

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US CBP to soon launch electronic system for importers to claim refunds



US Customs and Border Protection (CBP) recently announced that it will launch an electronic system on April 20, enabling importers to submit and process tariff refund claims more efficiently.

CBP is developing the Consolidated Administration and Processing of Entries (CAPE) functionality within the Automated Commercial Environment (ACE) to streamline the submission and processing of valid refund requests for duties imposed under the International Emergency Economic Powers Act (IEEPA), as authorised by court order or applicable law.

US Customs and Border Protection will launch on April 20 an electronic system that importers can use to claim tariff refunds authorised by court order or applicable law.
Phase 1 will be limited to certain unliquidated entries and certain entries within 80 days of liquidation.
Refunds will be issued within 60-90 days of the Consolidated Administration and Processing of Entries declaration getting accepted.

Phase 1 will be limited to certain unliquidated entries and certain entries within 80 days of liquidation.

CAPE is designed to consolidate refunds of IEEPA duties including interest rather than processing refunds on an entry-by-entry basis.

CBP plans to implement CAPE through a phased development approach, adding more functionality in subsequent phases for more complicated scenarios, it said in a release.

Valid IEEPA refunds will generally be issued within 60-90 days following acceptance of the CAPE declaration, unless a compliance concern requires further CBP review.

However, certain scenarios, such as entries that are extended, suspended or under review, and warehouse entries, will maintain their liquidation status with validated refunds issued at liquidation.

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US’ Gap & FIT launch programme to mentor fashion students

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US’ Gap & FIT launch programme to mentor fashion students



At the FIT Annual Gala on April 14, Gap Inc. President & CEO Richard Dickson (NYSE: GAP) announced the launch of The Doris Fisher Creators Program, a new mentorship initiative developed in partnership with Gap Inc. and the Fashion Institute of Technology (FIT).

Named in honor of Gap Inc. co-founder Doris Fisher, the program reflects her legacy of creativity, curiosity, and belief in people. It also builds on Gap Inc.’s commitment to helping bridge the opportunity gap by creating stronger connections between education and careers in the fashion industry.

Gap Inc., led by Richard Dickson, has launched The Doris Fisher Creators Program with the Fashion Institute of Technology to mentor students in fashion careers.
Starting Fall 2026, the programme will offer structured mentorship, industry exposure, and networking for select students, honouring Doris Fisher and strengthening pathways from education to careers.

“Gap Inc. is a house of iconic American brands guided by our purpose — to bridge gaps to create a better world. That includes bridging the opportunity gap. FIT embodies that same spirit, bringing education and industry together to unlock talent and expand what’s possible. We’re committed to opening doors, investing in emerging creatives, and building meaningful pathways into this industry for the next generation,” said Dickson.  

The Doris Fisher Creators Program will connect FIT students with Gap Inc. leaders and creatives through a structured mentorship experience designed to provide exposure to the business of fashion, industry insights, and meaningful professional connection. 

The program will launch in Fall 2026 and run through the academic year, and the inaugural cohort will include students from select disciplines, including Fashion Design, Graphic Design (Apparel), and Fabric Styling.

“Supporting emerging talent is a core expression of Gap Inc.’s purpose in action. Through initiatives such as The Doris Fisher Creators Program — alongside This Way ONward, the Rotational Management Program, and our broader internship and mentorship efforts — the company continues to bridge the opportunity gap for young people looking to start meaningful careers in fashion and retail,” added Amy Thompson, Chief People Officer at Gap Inc.   

“We are incredibly proud to be the first public college to partner with Gap Inc. on this groundbreaking mentorship program. This remarkable opportunity with one of the world’s most iconic brands will support 30 talented FIT students over the next year, placing them at the intersection of innovation and impact,” said Jason S. Schupbach, president of FIT.

A benefit for the FIT Foundation, this year’s FIT Annual Gala honored Gap Inc. President & CEO Richard Dickson and was attended by distinguished guests and alumni including Ciara, Aloe Blacc, Zac Posen, Bob Fisher and others. 

The FIT Foundation provided scholarships totaling more than $3 million in 2025.

Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.

Fibre2Fashion News Desk (RM)



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