Japanese opposition leader, Yukio Hatoyama, seen as the likely next prime minister of the country, has called for a single Asian currency to strengthen the region's economic and political ties. In an article to the magazine Voice, Hatoyama urged for efforts to "realize an Asian common currency1."

Japan’s Vice Economy, Trade and Industry Minister Harufumi Mochizuki told reporters that China's recent move to take a major stake in the Azadegan oil field in Iran may hamper global efforts geared to address concerns being generated by Iran's nuclear programme2.

Reports meanwhile noted that a joint US-Japanese missile defense program being built by Raytheon is now slated to cost over $3 billion, more than $700 million than earlier estimates. US Rear Admiral Brad Hicks, the program director of the Aegis sea-based leg of the anti-missile shield, however stated that the Standard Missile 3 Block IIA ballistic missile interceptor being developed by Raytheon jointly with Japan would be a "game-changer" for the military3.

In other developments, more than 5,000 people gathered in the Peace Park in Nagasaki to mark the 64th anniversary of the US atomic bombing of the southwestern Japanese city. Nagasaki Mayor Tomihisa Taue read the Peace Declaration, which urged worldwide nuclear disarmament and enhanced measures to tackle nuclear non-proliferation4.

• 1. “Japan PM front-runner calls for single Asian currency,” Agence France-Presse, August 7, 2009, at http://www.canada.com/business/fp/Japan+front+runner+calls+single+Asian+...
• 2. “Japan confused about Chinese deal over Iranian oil field,” Associated Press, August 3, 2009, at http://www.breitbart.com/print.php?id=D99R8ALO1&show_article=1
• 3. “Cost of US-Japan missile defense effort up sharply,” Reuters, August 3, 2009, at http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSN0...
• 4. “Japan marks 64th anniversary of Nagasaki atomic bombing,” Xinhua, August 9, 2009, at http://news.xinhuanet.com/english/2009-08/09/content_11851094.htm