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Italian cruise ship adrift off Seychelles taken in tow

Cruise ship left adrift in the Indian Ocean with more than 1,000 people on board now being hauled toward land by French fishing vessel.

(BBC) Seychelles - An Italian cruise ship left adrift in the Indian Ocean with more than 1,000 people on board following a power failure has been taken in tow.A French fishing vessel is taking the Costa Allegra to a small island in the Seychelles, where it is expected to arrive on Wednesday. A fire in the ship's generator room on Monday caused it to lose all power. The ship is from the same fleet as the Costa Concordia, which capsized off the Italian coast in January, killing 32.

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Economy

Abenomics Revisited: Why Japan Hasn't Attacked The Wealth Divide

Japanese Prime Minister Fumio Kishida promised to tackle wealth inequality and help struggling workers. But a year after he came to power, financial traders are once again the winners.

Japanese workers will still have to wait for the distribution of wealth promised by Prime Minister Fumio Kishida.

Yann Rousseau

-Analysis-

TOKYO — Panic on the Nikkei, the Japanese stock market. Almost a year ago, at the end of September 2021, traders went into a panic in Tokyo. On Sept. 29, Fumio Kishida had just won the general election for the country's main conservative party, the Liberal Democratic Party. He was about to be named Prime Minister, succeeding Yoshide Suga, who'd grown too unpopular in the polls.

Kishida had won through a rather original reform program, which was in stark contrast with years of conservative pro-market politics. In his speeches, he had promised to generate a “new capitalism”. A phrase that makes investors shudder.

While he did not completely renounce his predecessors’ strategy called “Abenomics” — named after free-market stalwart Shinzo Abe, who was killed last July — Kishida declared that the government needed to tackle the issue of the redistribution of wealth in the island nation.

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