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Türkiye's trade gap grows to 61.4 bln USD in H1

STORY: Türkiye's trade gap grows to 61.4 bln USD in H1 DATELINE: July 4, 2023 LENGTH: 00:01:03 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of Turkish flags 2. various of shipping trade in Türkiye 3. various of U.S. dollars 4. various of shipping trade in Türkiye 5. various of U.S. dollars STORYLINE: Türkiye's trade deficit recorded 61.4 billion U.S. dollars in the first half of this year, up 19.1 percent from the same period last year, the trade ministry said Monday. The exports dropped by 1.8 percent year on year to 123.4 billion dollars in the first half of 2023, while its imports rose 4.3 percent from a year earlier to 184.8 billion dollars, said the ministry. As for the monthly figure in June, the trade deficit saw a decrease of 34.5 percent to 5.39 billion dollars compared to the same period last year. The exports dropped by 10.5 percent to 20.9 billion dollars in June compared to the same period last year while the imports decreased by 16.8 percent, standing at 26.3 billion dollars. T

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Bank of England raises rates to 4 pct

STORY: Bank of England raises rates to 4 pct DATELINE: Feb. 3, 2023 LENGTH: 00:02:37 LOCATION: London CATEGORY: ECONOMY SHOTLIST: 1. various of Bank of England 2. various of BoE February press conference 3. various of London streets and supermarket STORYLINE: The Bank of England (BoE) raised its benchmark interest rate on Thursday by half a percentage point to 4 percent, its highest level since autumn 2008. At its meeting on Wednesday, the BoE's Monetary Policy Committee (MPC) voted in favor of the increase by a majority of 7-2, the bank said in a statement. This is the 10th consecutive rate hike since December 2021 as the BoE continues its fight against inflation, which slowed to 10.5 percent in December 2022 from a 41-year high of 11.1 percent in October. "Global consumer price inflation remains high, although it is likely to have peaked across many advanced economies, including in the United Kingdom (UK)," the BoE said, adding that domestic inflationary pressures have been firmer than expected.

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France becomes net electricity exporter again at start of 2023

STORY: France becomes net electricity exporter again at start of 2023 DATELINE: Jan. 17, 2023 LENGTH: 00:01:48 LOCATION: LYON, France CATEGORY: ECONOMY SHOTLIST: 1. various of electricity grid 2. various of an individual electricity meter STORYLINE: France is expected to be an electricity exporter during 2023, even planning various scenarios in the event of a power cut due to a lack of energy. "The risk of cuts this winter seems to be on the decline," said Olivier Veran, spokesperson for the French government, on leaving the Council of Ministers last Wednesday. The net electricity export balance amounts to 1.4 terawatt hours since the beginning of the year according to RTE, the electricity distribution network in France. Electricity and gas consumption has decreased by 9 percent and 10.5 percent, respectively compared to last month, according to the latest data from electricity and gas network operators. Xinhua News Agency correspondents reporting from Lyon, France. (XHTV)

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#CHINA-FOREIGN TRADE (CN)

(230113) -- LIANYUNGANG, Jan. 13, 2023 (Xinhua) -- This aerial photo shows vehicles waiting to be exported at a port in Lianyungang, east China's Jiangsu Province, Jan. 13, 2023. China's annual foreign trade value topped 40 trillion yuan (about 5.94 trillion U.S. dollars) for the first time in 2022, official data showed Friday. Total goods trade reached a record 42.07 trillion yuan, up 7.7 percent year on year, topping the world for six consecutive years, according to the General Administration of Customs (GAC). Exports rose 10.5 percent to 23.97 trillion yuan, and imports went up 4.3 percent to 18.1 trillion yuan. (Photo by Geng Yuhe/Xinhua)

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#CHINA-FOREIGN TRADE (CN)

(230113) -- LIANYUNGANG, Jan. 13, 2023 (Xinhua) -- This aerial photo shows vehicles waiting to be exported at a port in Lianyungang, east China's Jiangsu Province, Jan. 13, 2023. China's annual foreign trade value topped 40 trillion yuan (about 5.94 trillion U.S. dollars) for the first time in 2022, official data showed Friday. Total goods trade reached a record 42.07 trillion yuan, up 7.7 percent year on year, topping the world for six consecutive years, according to the General Administration of Customs (GAC). Exports rose 10.5 percent to 23.97 trillion yuan, and imports went up 4.3 percent to 18.1 trillion yuan. (Photo by Geng Yuhe/Xinhua)

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#CHINA-FOREIGN TRADE (CN)

(230113) -- LIANYUNGANG, Jan. 13, 2023 (Xinhua) -- This aerial photo shows vehicles waiting to be exported at a port in Lianyungang, east China's Jiangsu Province, Jan. 13, 2023. China's annual foreign trade value topped 40 trillion yuan (about 5.94 trillion U.S. dollars) for the first time in 2022, official data showed Friday. Total goods trade reached a record 42.07 trillion yuan, up 7.7 percent year on year, topping the world for six consecutive years, according to the General Administration of Customs (GAC). Exports rose 10.5 percent to 23.97 trillion yuan, and imports went up 4.3 percent to 18.1 trillion yuan. (Photo by Wang Chun/Xinhua)

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#CHINA-FOREIGN TRADE (CN)

(230113) -- LIANYUNGANG, Jan. 13, 2023 (Xinhua) -- This aerial photo shows vehicles waiting to be exported at a port in Lianyungang, east China's Jiangsu Province, Jan. 13, 2023. China's annual foreign trade value topped 40 trillion yuan (about 5.94 trillion U.S. dollars) for the first time in 2022, official data showed Friday. Total goods trade reached a record 42.07 trillion yuan, up 7.7 percent year on year, topping the world for six consecutive years, according to the General Administration of Customs (GAC). Exports rose 10.5 percent to 23.97 trillion yuan, and imports went up 4.3 percent to 18.1 trillion yuan. (Photo by Geng Yuhe/Xinhua)

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#CHINA-FOREIGN TRADE (CN)

(230113) -- YANTAI, Jan. 13, 2023 (Xinhua) -- This aerial photo shows a cargo ship departing from the Yantai Port in Yantai, east China's Shandong Province, Jan. 9, 2023. China's annual foreign trade value topped 40 trillion yuan (about 5.94 trillion U.S. dollars) for the first time in 2022, official data showed Friday. Total goods trade reached a record 42.07 trillion yuan, up 7.7 percent year on year, topping the world for six consecutive years, according to the General Administration of Customs (GAC). Exports rose 10.5 percent to 23.97 trillion yuan, and imports went up 4.3 percent to 18.1 trillion yuan. (Photo by Tang Ke/Xinhua)

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China's foreign trade up 7.7 pct in 2022 to new high

STORY: China's foreign trade up 7.7 pct in 2022 to new high DATELINE: Jan. 13, 2023 LENGTH: 00:01:32 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of imports and exports 2. SOUNDBITE (Chinese): LYU DALIANG, Spokesperson for General Administration of Customs (GAC) 3. various of imports and exports STORYLINE: Official data showed Friday that China's annual foreign trade value topped 40 trillion yuan (about 5.94 trillion U.S. dollars) for the first time in 2022. According to the General Administration of Customs (GAC), total goods trade reached a record 42.07 trillion yuan, up 7.7 percent year on year, topping the world for six consecutive years. SOUNDBITE (Chinese): LYU DALIANG, Spokesperson for General Administration of Customs (GAC) "In 2022, China's total goods trade reached 42.07 trillion yuan, up 7.7 percent year on year. Exports rose 10.5 percent to 23.97 trillion yuan, and imports went up 4.3 percent to 18.1 trillion yuan." The spokesperson said that China's foreign trade delivered break

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Tunisia's economy expected to expand by 1.8 pct in 2023: minister

STORY: Tunisia's economy expected to expand by 1.8 pct in 2023: minister DATELINE: Dec. 29, 2022 LENGTH: 00:01:00 LOCATION: Tunis CATEGORY: ECONOMY SHOTLIST: 1. various of Tunisian Central Bank 2. various of city views of Tunis STORYLINE: Minister of Economy and Planning Samir Saied said on Monday that Tunisia's economy is expected to expand by 1.8 percent in 2023, a "modest" growth that "reflects the country's difficult economic situation." At a press conference to present the country's finance law for 2023, Saied estimated that Tunisia's inflation rate is expected to reach 10.5 percent in 2023, up from 8.3 percent in 2022. The conflict between Russia and Ukraine will lead to a rise in imports of basic commodities and petroleum products respectively worth of 2 billion Tunisian dinars (640 million U.S. dollars) and 8 billion dinars. "The year of 2023 will be difficult for Tunisians," the minister warned, adding the Russia-Ukraine conflict will affect the country's budgetary balances. The mini

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Toyota's 1st qtr group sales rise 10.5%, record high

NAGOYA, Japan - Toyota Motor Corp. Managing Director Takeshi Suzuki speaks at a press conference in Tokyo on Aug/. 3. The company said its consolidated sales in the April-June first quarter of the 2005 business year rose 10.5 percent from a year earlier to 4,981.79 billion yen, marking its highest first-quarter sales ever, supported by robust sales in overseas markets including North America.

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Russian poverty rate ticks down to 10.5 pct

STORY: Russian poverty rate ticks down to 10.5 pct DATELINE: Dec. 1, 2022 LENGTH: 00:01:34 LOCATION: Moscow CATEGORY: ECONOMY SHOTLIST: 1. various of a Russian government meeting held on Nov.30 (Source: Kremlin) STORYLINE: Russia's poverty rate stood at 10.5 percent at the end of the third quarter of 2022, slightly down from 11 percent in the same period last year, President Vladimir Putin said on Wednesday. "The decline is indeed small but it is important that in the current difficult economic situation there is such a definite positive trend. It needs to be preserved," Putin said at a government meeting. Thanks to targeted government support, the incomes of the least well-to-do 10 percent of the Russian population are increasing, he noted. "Our priority task is to achieve real income growth, reduce poverty and inequality in our country as a whole," Putin said. Russia's current poverty line for an able-bodied adult is 15,172 rubles (about 248 U.S. dollars) per month. Xinhua News Agency correspon

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Turkish central bank makes biggest rate cut this year

STORY: Turkish central bank makes biggest rate cut this year DATELINE: Oct. 21, 2022 LENGTH: 00:01:05 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of Turkish central bank 2. various of a market STORYLINE: Turkish central bank cut the benchmark rate by 1.5 percentage points to 10.5 percent on Thursday, a major decrease this year despite high inflation. The central bank's Monetary Policy Committee decided to reduce the policy rate by 150 basis points to maintain supportive financial conditions to preserve the growth momentum in industrial production and the positive trend in employment amid increasing global economic uncertainties and geopolitical risks. The bank signaled that a similar rate cut would be made in November and that the interest rate reduction cycle would come to an end. The bank had kept the interest rate at 14 percent for eight months and lowered it by 1 percentage point each in August and September, while Türkiye's annual inflation hit 83.45 percent in September, the highest in

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TÜRKIYE-TURKISH CENTRAL BANK-RATE CUT

(221021) -- ANKARA, Oct. 21, 2022 (Xinhua) -- A teller counts banknotes at an exchange office in Ankara,Türkiye, Oct. 20, 2022. Turkish central bank cut the benchmark rate by 1.5 percentage points to 10.5 percent on Thursday, a major decrease this year despite high inflation. (Photo by Mustafa Kaya/Xinhua)

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Rising prices affecting sheep and cattle farmers in Spain

STORY: Rising prices affecting sheep and cattle farmers in Spain DATELINE: Oct. 18, 2022 LENGTH: 00:01:39 LOCATION: Madrid CATEGORY: ECONOMY SHOTLIST: 1. various of cattle and sheep 2. SOUNDBITE 1 (Spanish): JOSE, Shepherd 3. SOUNDBITE 2 (Spanish): BERNA, Cattle farmer 4. SOUNDBITE 3 (Spanish): ANA COBO, Cattle farmer STORYLINE: Rising costs have impacted sheep and cattle farmers in Spain, though inflation dropped to 9 percent in September from 10.5 percent in August. Rising energy costs are believed to be responsible for pushing up food prices in all parts of the supply chain. SOUNDBITE 1 (Spanish): JOSE, Shepherd "It's getting more expensive because the raw materials to feed the animals are more expensive than ever. The weather hasn't helped either. We are going to get to a point where it isn't sustainable. I don't know what measures we can take. But if we don't do anything, we won't be able to keep the farm running." Spain has also been affected by one of the worst droughts on record, which has also

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Inflation falls in Spain but some still struggle to make ends meet

STORY: Inflation falls in Spain but some still struggle to make ends meet DATELINE: Oct. 15, 2022 LENGTH: 0:01:23 LOCATION: Madrid CATEGORY: ECONOMY SHOTLIST: 1. various of supermarkets in Spain 2. various of people at gas stations, markets and shops 3. SOUNDBITE 1 (Spanish): JUAN FRANCISCO NORIEGA, Spanish citizen 4. SOUNDBITE 2 (Spanish): IGNACIO SOTOMAYOR, Restaurant owner 5. various of people cooking at home STORYLINE: The inflation in Spain dropped to 9 percent in September from 10.5 percent in August, but some people are still struggling to make ends meet. SOUNDBITE 1 (Spanish): JUAN FRANCISCO NORIEGA, Spanish citizen "The cost of gas and electricity in Spain is terribly high. It's something we have never seen. There are care homes and schools and universities which are considering not putting the heating on." SOUNDBITE 2 (Spanish): IGNACIO SOTOMAYOR, Restaurant owner in Spain "The prices of everything have gone up so much and I'm not sure I can get to the end of the month on our wages. We have chi

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Egypt raises interest rates to curb inflation

STORY: Egypt raises interest rates to curb inflation DATELINE: May 20, 2022 LENGTH: 00:00:56 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. Various shots of the Central Bank of Egypt 2. Various shots of a supermarket 3. A shot of people withdrawing money from ATMs STORYLINE: The Central Bank of Egypt (CBE) decided on Thursday to raise its interest rates amid a global wave of inflation and hiking prices. The CBE decided to increase the deposit rate, the lending rate, and the rate of the main operation by 200 basis points, to 11.25 percent, 12.25 percent, and 11.75 percent respectively, the bank's Monetary Policy Committee (MPC) said in a statement following Thursday's meeting. It pointed out that the decision was driven by the global economic slowdown "due to ongoing tensions between Russia and Ukraine." Egypt's annual headline urban inflation increased to 13.1 percent in April, up from 10.5 percent in March, its highest monthly level since May 2019, said the MPC. Already expected by many economists and

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Toyota's 1st qtr group sales rise 10.5%, record high

NAGOYA, Japan - Toyota Motor Corp. Managing Director Takeshi Suzuki speaks at a press conference in Tokyo on Aug/. 3. The company said its consolidated sales in the April-June first quarter of the 2005 business year rose 10.5 percent from a year earlier to 4,981.79 billion yen, marking its highest first-quarter sales ever, supported by robust sales in overseas markets including North America. (Kyodo)

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Kubota's rice harvester designed for elderly farmers

OSAKA, Japan - Kubota Corp. has released a new small rice harvester (photo) it says is specially designed for use by elderly farmers. The harvester is fully automated and is easy to maneuver even in small paddy fields, the company says. The price of a 10.5-horsepower machine begins at 1,417,500 yen. About 60 percent of Japanese farmers are aged over 65. (Kyodo)