The Bank of Japan announced the appointment of its first female head of media relations, in one sign that long-closed doors are beginning to open for women at the central bank. Mikari Kashima, previously head of the Financial Infrastructure Studies Division, was appointed to the position yesterday, meaning women now hold the position of chief spokesperson at both the BOJ and the Ministry of Finance. In 2014, the BOJ followed Prime Minister Shinzo Abe’s lead and said it would try to hire women for 30% of career-track positions. It said it topped that goal in fiscal 2016, when a third of such new positions went to women, after achieving a similar rate the previous year.
City Developments to buy Millennium at $2.8 billion
Singapore’s second-largest property developer is offering to buy out shareholders of Millennium & Copthorne Hotels Plc in a deal that would value the company at USD2.84 billion. City Developments Ltd. said in a statement that it has made a final offer for the London-traded hotel chain at 685 pence per share, representing a 37% premium to the June 6 closing price of 500 pence. That’s up from a previous offer of 620 pence per share. City already owns 65.2% of the shares in the company, and the final offer is conditional on more than half of the remaining shareholders accepting, according to the statement.
China copper imports drop
China’s imports of unwrought copper and products weakened in May as concerns over the global economic outlook weighed on sentiment and lower domestic prices made imports less attractive. Imports of unwrought copper and products slumped to 361,000 tons in May, down 23% from a year earlier and 11% lower than April, according to China’s General Administration of Customs. Copper concentrate imports rose to 1.84 million tons, the highest since February and up 17% from a year earlier. The International Monetary Fund this month trimmed its forecasts for economic growth in China, and said the trade war with the U.S. is tilting the balance of risks to the downside. The Asian nation is the world’s biggest copper buyer and the metal is often considered a barometer of economic activity.