ILEA000000293: Dollar tops 135 yen level in Tok

China's economic recovery continues with promising outlook

STORY: China's economic recovery continues with promising outlook DATELINE: July 21, 2023 LENGTH: 00:01:57 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of China-related footage 2. SOUNDBITE 1 (Chinese): LI HUI, Senior official with the National Development and Reform Commission 3. SOUNDBITE 2 (Chinese): FU LINGHUI, Spokesperson of the National Bureau of Statistics 4. SOUNDBITE 3 (English): FOO SUAN YONG, Senior economist of ASEAN +3 Macroeconomic Research Office 5. SOUNDBITE 4 (English): DETLEF KRATZ, President of group research at German chemical giant BASF 6. SOUNDBITE 5 (English): BENOIT BAZIN, CEO, Saint-Gobain Group STORYLINE: Despite external challenges, the Chinese economy has shown remarkable improvement and performance this year, instilling confidence in its development prospects. The economic data for the first half of 2023 reflects this positive trend, with China's gross domestic product (GDP) reaping year-on-year growth of 5.5 percent. Government officials say China's economy has

Chinese economy sees hard-won recovery in H1 amid global downturn

STORY: Chinese economy sees hard-won recovery in H1 amid global downturn DATELINE: July 19, 2023 LENGTH: 00:01:11 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of the views in China 2. SOUNDBITE 1 (English): FOO SUAN YONG, Senior economist of ASEAN +3 Macroeconomic Research Office 3. SOUNDBITE 2 (English): ESWAR PRASAD, Professor of trade policy at Cornell University 4. SOUNDBITE 3 (Japanese): KATSUYUKI HASEGAWA, Professor of international economics and finance at Tokyo Woman's Christian University 5. SOUNDBITE 4 (English): AMER ZAFAR DURRANI, President of Reenergia, Social impact advisory group in Pakistan 6. SOUNDBITE 5 (English): THANAWAT TIENSIN, Director of Animal Production and Health Division, United Nations Food and Agriculture Organization (FAO) 7. SOUNDBITE 6 (English): MICHEL TAUBE, Founder of Opinion-Internationale and its column Les routes de la Chine STORYLINE: International experts have spoken highly of China's economic performance in the first half (H1) of this year. Despite var

Japan books 13.6 bln USD current account surplus in April

STORY: Japan books 13.6 bln USD current account surplus in April DATELINE: June 8, 2023 LENGTH: 00:00:37 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of ports in Japan 2. various of city views in Japan STORYLINE: Japan logged a current account surplus of 1.9 trillion yen (13.6 billion U.S. dollars) in April, said a government report on Thursday. According to the Finance Ministry's preliminary information, the figure, in the black for the third consecutive month, was 76.3 percent higher than in the same period last year. According to the ministry, the country saw a goods trade deficit of 113.1 billion yen and a services trade deficit of 646.5 billion yen in the recording period. Imports decreased by 4.1 percent while exports expanded 2.6 percent year on year, the preliminary data showed. The report also said that the primary income, which reflects returns on overseas investments, booked a surplus of 3.07 trillion yen. (1 U.S. dollar equals 139.94 Japanese yen) Xinhua News Agency

Japan's real wages slump most in nearly decade

STORY: Japan's real wages slump most in nearly decade DATELINE: May 24, 2023 LENGTH: 00:01:46 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of street views in Tokyo STORYLINE: Japan's real wages in the fiscal year 2022 registered the steepest decline since 2014 as price increases outpaced the growth in nominal wages, official data showed Tuesday. In the fiscal year from April 2022 to March 2023, inflation-adjusted real wages fell by 1.8 percent from the previous year, according to the Ministry of Health, Labor and Welfare. This marked the sharpest decline since a 2.9-percent drop in the fiscal year 2014 when an increase in consumption tax led to higher prices. Nominal monthly wages rose by 1.9 percent in the last fiscal year to an average of 326,308 yen, the fastest growth in over 30 years. However, inflation outpaced such gains by experiencing a climb of 3.8 percent due to surging prices in food, electricity, and gas. During the period, regular salary, including base pay, rose 1.1 percent, wh

Turkish lira sinks to record low against USD as presidential poll heads to runoff

STORY: Turkish lira sinks to record low against USD as presidential poll heads to runoff DATELINE: May 17, 2023 LENGTH: 00:01:56 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul city in Türkiye 2. various of Turkish citizens vote in the ballot boxes 3. various of people shopping in supermarket 4. Borsa Istanbul Stock Exchange STORYLINE: The Turkish lira hit a record low of 19.70 against the U.S. dollar on Tuesday as the presidential election is heading to a runoff on May 28 after Sunday's inconclusive vote. In the open market, the exchange rate went as high as 22 liras per dollar on Monday before falling back to 20.25 on Tuesday. Turkish people have long been suffering high living costs triggered by a soaring inflation rate, which hit a 24-year high of 85.5 percent in October of last year before falling back to 43.68 percent in April. Turkish President Recep Tayyip Erdogan has been employing unorthodox policies such as lowering interest rates, claiming such policies

Japan's current account surplus plunges in FY 2022

STORY: Japan's current account surplus plunges in FY 2022 DATELINE: May 12, 2023 LENGTH: 00:00:54 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of street views in Tokyo 2. various of ports 3. various of street views in Tokyo STORYLINE: Japan's current account surplus in fiscal year 2022 dived 54 percent from the previous period, owing to a record trade deficit due to price surges in imports and a weaker yen, official data showed on Thursday. According to the finance ministry's preliminary report, the current account surplus in the fiscal period from April 2022 to March 2023 stood at 9.23 trillion yen (68.85 billion U.S. dollars), hitting the lowest level since fiscal 2014. Imports were up 35 percent to 117.68 trillion yen while exports rose 16.3 percent to 99.62 trillion yen, the data showed. The deficit in goods trade widened to 18.06 trillion for the fiscal year, which is regarded by market watchers as the main reason for the country's bleaker balance of payments. As the deficit

IMF official says China's contribution to global growth to stand at over a third this year

STORY: IMF official says China's contribution to global growth to stand at over a third this year DATELINE: April 22, 2023 LENGTH: 0:01:56 LOCATION: TIANJIN, China CATEGORY: ECONOMY SHOTLIST: 1. various of China 2. SOUNDBITE 1 (English): STEVEN BARNETT, IMF senior resident representative in China 3. SOUNDBITE 2 (English): STEVEN BARNETT, IMF senior resident representative in China STORYLINE: An official from the International Monetary Fund (IMF) has said that China's contribution to global economic growth will stand at over one-third this year. Steven Barnett, the IMF senior resident representative in China, made the remarks on Friday while experts and scholars from the IMF Resident Representative Office in China and the School of Finance of Nankai University gathered in north China's Tianjin to discuss the latest published World Economic Outlook. SOUNDBITE 1 (English): STEVEN BARNETT, IMF senior resident representative in China "Our forecast for China's growth this year is 5.2%. That is up a lot from la

Japan logs record 161.36 bln USD trade deficit for FY 2022

STORY: Japan logs record 161.36 bln USD trade deficit for FY 2022 DATELINE: April 20, 2023 LENGTH: 00:00:42 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of city views in Tokyo 2. various of port 3. various of factories in Japan STORYLINE: Japan posted a trade deficit of 21.73 trillion yen (161.36 billion U.S. dollars) in fiscal 2022 ending March, marking a new record, the government said in a report on Thursday. According to the Finance Ministry, the country's imports far outpaced exports from a year earlier, with imports leaping 32.2 percent compared to a 15.5 percent increase in exports. For March alone, the Finance Ministry said in its preliminary report that Japan logged a trade deficit of 754.5 billion yen (5.60 billion U.S. dollars). Xinhua News Agency correspondents reporting from Tokyo. (XHTV)

Japan's wholesale prices increase 7.2 pct in March

STORY: Japan's wholesale prices increase 7.2 pct in March DATELINE: April 13, 2023 LENGTH: 00:00:58 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of factories in Japan 2. various of port 3. various of city views in Tokyo STORYLINE: Japan's wholesale price inflation increased in March from a year earlier, although the pace of increase slowed for a third successive month, the Bank of Japan (BOJ) said Wednesday. According to the central bank, wholesale prices in Japan rose 7.2 percent in March from a year earlier, as raw material prices and the yen's weaker tone continue to weigh. The corporate goods price index (CGPI), a gauge of prices for goods and services charged by companies to each other, came on the heels of an 8.3 percent increase booked in February, the data showed, with the latest reading coming in line with economists' expectations. Unlike other major central banks, the BOJ has steadfastly stuck to its pledge of maintaining its ultra-low interest rate policy despite a widening

China, India "two exceptions" to global slowdown this year: World Bank chief

STORY: China, India "two exceptions" to global slowdown this year: World Bank chief DATELINE: April 12, 2023 LENGTH: 00:02:06 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of World Bank Group President David Malpass in conversation with IMF Managing Director Kristalina Georgieva 2. various of IMF headquarters during spring meetings STORYLINE: China and India are "two exceptions to the slowdown" that the global economy is expected to experience this year, World Bank Group President David Malpass has said. Malpass made the remarks in a media call ahead of the International Monetary Fund and World Bank Spring Meetings week, according to a press release posted at the worldbank.org on Monday. "Global growth is expected to be weak this year, slowing to 2 percent from 3.1 percent in 2022. For the U.S., we're expecting a slowdown to 1.2 percent from 2.1 percent in 2022," said Malpass. "Several factors are weighing on the second half outlook: Oil prices have jumped back above 80 U.S. dollars a

Dollar tops 135 yen level in Tok

The dollar surges above the 135 yen line in Tokyo on April 3 to hit a six-and-a-half-year high, reflecting the gloomy outlook for the Japanese economy. Dealers were busily receiving orders for selling yen at Tokyo Forex's Nihombashi office.

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