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World Bank Group approves new financing for Egypt

STORY: World Bank Group approves new financing for Egypt SHOOTING TIME: File DATELINE: June 25, 2024 LENGTH: 00:00:46 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of banks in Egypt STORYLINE: The World Bank approved on Monday the provision of 700 million U.S. dollars in financing the Egyptian government, within the framework of the Development Policy Financing (DPF) program, to enhance macroeconomic stability. The DPF program is designed to support the government's efforts to address short-term economic challenges, contribute to strengthening structural reforms, increase the competitiveness of the economy, and improve the business environment in Egypt. Egyptian Minister of International Cooperation Rania Al-Mashat said the Egyptian government pledges to implement ambitious economic and structural reforms, aiming at creating a more competitive economy. Xinhua News Agency correspondents reporting from Cairo. (XHTV)

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Xinhua Headlines: China unleashes new quality productive forces in push for reform, innovation

(240624) -- BEIJING, June 24, 2024 Photo by Xinhua/ABACAPRESS.COM) -- Huang Hanquan, head of the Chinese Academy of Macroeconomic Research affiliated to the National Development and Reform Commission, speaks at the China Economic Roundtable. Photo by Xinhua/ABACAPRESS.COM/Chen Yehua)

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Xinhua Headlines: China unleashes new quality productive forces in push for reform, innovation

(240624) -- BEIJING, June 24, 2024 (Xinhua) -- Huang Hanquan, head of the Chinese Academy of Macroeconomic Research affiliated to the National Development and Reform Commission, speaks at the China Economic Roundtable. (Xinhua/Chen Yehua)

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Chinese economy extends upward trend amid policies to prop up growth

STORY: Chinese economy extends upward trend amid policies to prop up growth SHOOTING TIME: June 17, 2024 & File DATELINE: June 17, 2024 LENGTH: 00:01:22 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of China 2. SOUNDBITE (Chinese): LIU AIHUA, National Bureau of Statistics (NBS) spokesperson 3. various of workers sorting packages 4. various of construction sites 5. various of cars STORYLINE: The Chinese economy extended an upward recovery trend in May, as shown by faster consumption growth and steady expansion in industrial production, latest government data showed. Important economic indicators rebounded during the month amid government measures to prop up growth and promote high-quality development, the National Bureau of Statistics (NBS) spokesperson Liu Aihua said at a press conference in Beijing on Monday. SOUNDBITE (Chinese): LIU AIHUA, National Bureau of Statistics (NBS) spokesperson "Driven by such factors as macroeconomic policies taking effects, improving external demand and the May D

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The fallacious, dangerous logic of "Chinese overcapacity" rhetoric

STORY: The fallacious, dangerous logic of "Chinese overcapacity" rhetoric SHOOTING DATE: May 20, 2024 DATELINE: May 20, 2024 LENGTH: 00:02:33 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. SOUNDBITE 1 (Chinese): DING WEISHUN, Official of the Ministry of Commerce 2. SOUNDBITE 2 (Chinese): HE HAILIN, Official of the Ministry of Industry and Information Technology 3. SOUNDBITE 3 (Chinese): QU FENGJIE, Researcher with the Academy of Macroeconomic Research under the NDRC 4. SOUNDBITE 4 (Chinese): HUO FUPENG, Official of the National Development and Reform Commission (NDRC) STORYLINE: China's booming new energy vehicle (NEV) sector recently drew scrutiny for purported "Chinese overcapacity" rhetoric from certain Western nations. To provide clarity on the industry's landscape to a global audience, three government officials and an industry expert joined the fifth episode of the China Economic Roundtable, an all-media talk platform hosted by Xinhua News Agency. They elucidated why such assertions lack merit, o

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Dutch economy deteriorates further in January

STORY: Dutch economy deteriorates further in January SHOOTING TIME: Feb. 1, 2024 DATELINE: Feb. 1, 2024 LENGTH: 00:00:39 LOCATION: THE HAGUE, the Netherlands CATEGORY: ECONOMY SHOTLIST: 1. various of street views in the Hague STORYLINE: The Dutch economy showed a downward trend in January, with 10 out of 13 indicators below their long-term trend, according to Statistics Netherlands (CBS) on Wednesday. The CBS uses this method with 13 indicators, such as the gross domestic product (GDP) figures, unemployment rates, consumer confidence and the number of bankruptcies, to monitor the state and the cycle of the Dutch economy and get an overall coherent macroeconomic picture, based on all available data known to the CBS at the time. One of the indicators is the GDP, which fell by 0.3 percent in the third quarter (Q3) of 2023 compared to the previous quarter, marking the third consecutive quarter with contraction. "The contraction in Q3 can mainly be attributed to declining investments in fixed assets, a decli

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Kenya projects economy to grow 5.5 pct in 2023

STORY: Kenya projects economy to grow 5.5 pct in 2023 SHOOTING TIME: Nov. 7, 2023 DATELINE: Nov. 8, 2023 LENGTH: 00:01:53 LOCATION: Nairobi CATEGORY: ECONOMY SHOTLIST: 1. various of Nairobi 2. various of the NCBA Bank 2024 Macroeconomic Outlook Forum 3. SOUNDBITE (English): SUSAN KOECH, Deputy governor of Central Bank of Kenya 4. various of the NCBA Bank 2024 Macroeconomic Outlook Forum 5. various of Nairobi STORYLINE: Kenya's economy is projected to grow 5.5 percent in 2023, compared to 4.8 percent recorded in 2022, a government official said Tuesday. Susan Koech, the deputy governor of the Central Bank of Kenya, told a forum in Nairobi, the capital of Kenya, that the growth will be driven by a rebound in the agricultural and services sector as well as government measures implemented to stimulate the manufacturing sector. SOUNDBITE (English): SUSAN KOECH, Deputy governor of Central Bank of Kenya "Despite the global uncertainties, Kenya's growth has remained strong and is expected to remain above the

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India's central bank keeps repo rate unchanged at 6.5 pct

STORY: India's central bank keeps repo rate unchanged at 6.5 pct DATELINE: Oct. 8, 2023 LENGTH: 00:01:44 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of India gate 2. various of Reserve Bank of India (RBI) 3. various of markets STORYLINE: India's central bank, the Reserve Bank of India (RBI), on Friday kept the key policy repo rate unchanged at 6.5 percent. This was the fourth time when the RBI kept the repo rate steady. Addressing media persons in financial capital Mumbai, RBI Governor Shaktikanta Das said, "After a detailed assessment of the evolving macroeconomic and financial developments and the outlook, RBI's Monetary Policy Committee (MPC) decided unanimously to keep the Policy Repo Rate unchanged at 6.5 percent." The announcement came after the RBI's six-member MPC held a meeting on Oct. 4-6. The RBI governor stated that the retail inflation was projected at 5.4 percent for the financial year 2023-24 through next March. "Headline inflation had surged in July driven by tomatoes an

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Tanzania welcomes more Chinese investors to support industrialization drive

STORY: Tanzania welcomes more Chinese investors to support industrialization drive DATELINE: Sept. 26, 2023 LENGTH: 0:02:30 LOCATION: DAR ES SALAAM, Tanzania CATEGORY: ECONOMY SHOTLIST: 1. various of the forum 2. SOUNDBITE (English): CHEN MINGJIAN, Chinese Ambassador to Tanzania STORYLINE: Tanzanian Prime Minister Kassim Majaliwa said on Monday the country has opened its doors wide for more Chinese investors to support the East African nation's industrialization drive. "Tanzania is ready to do business with you, our doors are wide open," Majaliwa assured Chinese investors when he closed a one-day China Tanzania Investment Forum Zhejiang (Jinhua) -Tanzania Trade and Investment Conference held on Monday in Dar es Salaam. He added that Tanzania has a conducive business environment, politically sound economic policies, macroeconomic stability, abundant natural resources, a relatively educated labor force, and a sizeable and captive market because of the country's unique geographical location. The forum attr

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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

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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

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Int'l business leaders, experts optimistic about China's economy

STORY: Int'l business leaders, experts optimistic about China's economy DATELINE: July 15, 2023 LENGTH: 00:02:04 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of China 2. SOUNDBITE 1 (English): HAMID RASHID, Lead author of World Economic Situation and Prospects 2023 mid-year report 3. SOUNDBITE 2 (English): MIWAKO ANDO, Executive officer of Mitsui O.S.K. Lines, Ltd. 4. SOUNDBITE 3 (English): SUAN YONG FOO, Senior Economist at ASEAN+3 Macroeconomic Research Office (AMRO) 5. SOUNDBITE 4 (English): STEPHEN PERRY, Chair of the 48 Group Club STORYLINE: China's economy maintained recovery momentum as consuming activities gained traction and innovation pushed up industrial upgrading in the past half year. The mid-year update of the World Economic Situation and Prospects 2023, released by the United Nations, projected that China's economy will grow 5.3 percent this year, up from the 4.8 percent forecast in January. Economic experts and business leaders from various countries have expressed their confi

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Russia maintains economic stability despite challenges: Putin

STORY: Russia maintains economic stability despite challenges: Putin DATELINE: June 18, 2023 LENGTH: 00:01:12 LOCATION: ST. PETERSBURG, Russia CATEGORY: POLITICS SHOTLIST: 1. various of Russian President Putin addressing a plenary session of the 26th St. Petersburg International Economic Forum 2. various of the audience STORYLINE: Russia has successfully maintained economic stability in the face of "unprecedented challenges," President Vladimir Putin said on Friday. "Positive macroeconomic trends are gaining momentum and becoming increasingly apparent," Putin said during a plenary session of the 26th St. Petersburg International Economic Forum. Russia's GDP could achieve a growth rate of about 1.5 percent to 2 percent this year, which will enable the country to retain its place among the world's leading economies, he said. Inflation stays close to a historical low of 2.9 percent and unemployment stands at a record low of 3.3 percent, according to the Russian leader. While many foreign brand

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Illustration: Sea

SUQIAN, CHINA - JUNE 2, 2023 - Illustration: Sea, Suqian City, Jiangsu Province, China, June 2, 2023. Southeast Asian e-commerce and gaming giant Sea is shutting down its investment arm as the global investment climate cools as macroeconomic and market uncertainties weigh on valuations.

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Illustration: Sea

SUQIAN, CHINA - JUNE 2, 2023 - Illustration: Sea, Suqian City, Jiangsu Province, China, June 2, 2023. Southeast Asian e-commerce and gaming giant Sea is shutting down its investment arm as the global investment climate cools as macroeconomic and market uncertainties weigh on valuations.

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Eurogroup Ministers Meeting - Brussels

Paolo Gentiloni, European Commissioner for the Economy during the Eurogroup Ministers meeting in Brussels, Belgium on May 15, 2023. The Eurogroup will discuss macroeconomic developments in the Eurozone and structural challenges for the business sector in the context of heightened geopolitical tensions. Photo by Monasse T/ANDBZ/ABACAPRESS.COM

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Eurogroup Ministers Meeting - Brussels

Nadia Calvino, Spanish Minister of Economy and Digital Transformation during the Eurogroup Ministers meeting in Brussels, Belgium on May 15, 2023. The Eurogroup will discuss macroeconomic developments in the Eurozone and structural challenges for the business sector in the context of heightened geopolitical tensions. Photo by Monasse T/ANDBZ/ABACAPRESS.COM

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Eurogroup Ministers Meeting - Brussels

Sigrid Kaag, Dutch Minister of Finance during the Eurogroup Ministers meeting in Brussels, Belgium on May 15, 2023. The Eurogroup will discuss macroeconomic developments in the Eurozone and structural challenges for the business sector in the context of heightened geopolitical tensions. Photo by Monasse T/ANDBZ/ABACAPRESS.COM

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Eurogroup Ministers Meeting - Brussels

Pierre Gramegna, Director General of the European Stability Mechanism and Christine Lagarde, President of the European Central Bank during the Eurogroup Ministers meeting in Brussels, Belgium on May 15, 2023. The Eurogroup will discuss macroeconomic developments in the Eurozone and structural challenges for the business sector in the context of heightened geopolitical tensions. Photo by Monasse T/ANDBZ/ABACAPRESS.COM

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Eurogroup Ministers Meeting - Brussels

Makis Keravnos, Cypriot Minister of Finance during the Eurogroup Ministers meeting in Brussels, Belgium on May 15, 2023. The Eurogroup will discuss macroeconomic developments in the Eurozone and structural challenges for the business sector in the context of heightened geopolitical tensions. Photo by Monasse T/ANDBZ/ABACAPRESS.COM

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Eurogroup Ministers Meeting - Brussels

Nadia Calvino, Spanish Minister of Economy and Digital Transformation during the Eurogroup Ministers meeting in Brussels, Belgium on May 15, 2023. The Eurogroup will discuss macroeconomic developments in the Eurozone and structural challenges for the business sector in the context of heightened geopolitical tensions. Photo by Monasse T/ANDBZ/ABACAPRESS.COM

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Eurogroup Ministers Meeting - Brussels

Fabio Panetta, member of the executive board of the European Central Bank, Paolo Gentiloni, European Commissioner for the Economy and Christine Lagarde, President of the European Central Bank during the Eurogroup Ministers meeting in Brussels, Belgium on May 15, 2023. The Eurogroup will discuss macroeconomic developments in the Eurozone and structural challenges for the business sector in the context of heightened geopolitical tensions. Photo by Monasse T/ANDBZ/ABACAPRESS.COM

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Eurogroup Ministers Meeting - Brussels

Nadia Calvino, Spanish Minister of Economy and Digital Transformation during the Eurogroup Ministers meeting in Brussels, Belgium on May 15, 2023. The Eurogroup will discuss macroeconomic developments in the Eurozone and structural challenges for the business sector in the context of heightened geopolitical tensions. Photo by Monasse T/ANDBZ/ABACAPRESS.COM

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EU upgrades Spain's GDP forecast for 2023

STORY: EU upgrades Spain's GDP forecast for 2023 DATELINE: May 17, 2023 LENGTH: 00:01:27 LOCATION: Madrid CATEGORY: ECONOMY SHOTLIST: 1. various of EU flags 2. various of automobile filling station 3. various of people at supermarkets 4. various of Spanish Ministry of Economy headquarters 5. various of people at supermarket STORYLINE: The European Commission (EC) on Monday raised its GDP growth forecast for Spain in 2023 by five-tenths, which stands at 1.9 percent. In the EC's Spring Macroeconomic Forecast, it downwardly revised Spain's inflation estimate to 4 percent, which is four-tenths lower than its previous winter projections. The Spanish economy posted growth of 5.5 percent in 2022. In the first quarter of this year, Spain's real GDP recorded a quarterly growth of 0.5 percent, largely driven by the contribution from external demand thanks to the solid performance of the tourism sector. Xinhua News Agency correspondents reporting from Madrid. (XHTV)

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China-Africa cooperation promising: official, experts

STORY: China-Africa cooperation promising: official, experts DATELINE: March 24, 2023 LENGTH: 00:02:50 LOCATION: Nairobi CATEGORY: ECONOMY SHOTLIST: 1. various of the forum 2. SOUNDBITE 1 (English): ZHANG YIJUN, Minister Counselor at Chinese Embassy in Kenya 3. various of the forum 4. SOUNDBITE 2 (English): JEREMY STEVENS, Economist of Standard Bank Asia Advisory 5. various of the forum 6. SOUNDBITE 3 (English): JIBRAN QURESHI, Head of Africa Regions' Economic Research of Standard bank STORYLINE: The prospects for China and Kenya cooperation are very promising, and the potential is great, according to Zhang Yijun, the minister counselor of the Chinese Embassy in Kenya. Zhang made the remarks at the Macroeconomic Outlook for Kenya and China Forum held on Wednesday in Nairobi, Kenya's capital. The forum is jointly organized by Standard Bank and ICBC. Experts came together to discuss the opportunities and challenges of the current macroeconomic situation of Kenya and other African countries. SOUNDBITE 1 (E

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G20 finance ministers, central bank governors conclude meeting with chair's summary

STORY: G20 finance ministers, central bank governors conclude meeting with chair's summary DATELINE: Feb. 26, 2023 LENGTH: 00:01:07 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of India Gate 2. various of flags of G20 countries and other organizations flying outside meeting venue 3. various of Indian Finance Minister, Nirmala Sitharaman and Reserve Bank Of India (RBI) Governor Shaktikanta Das STORYLINE: The G20 finance ministers and central bank governors on Saturday reiterated their commitment to enhancing international policy cooperation and steering the global economy towards securing strong, sustainable, balanced and inclusive growth. They also stressed the need for well-calibrated monetary, fiscal, financial, and structural policies to promote growth and maintain macroeconomic as well as financial stability globally. Besides, they recognized the urgency to address debt vulnerabilities in low and middle-income countries, and declared that strengthening multilateral coordination by

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U.S. dollar usage surge draws concern in Zimbabwe as local dollar slides

STORY: U.S. dollar usage surge draws concern in Zimbabwe as local dollar slides DATELINE: Feb. 25, 2023 LENGTH: 0:01:54 LOCATION: Harare CATEGORY: ECONOMY SHOTLIST: 1. various of Zimbabwe 2. SOUNDBITE 1 (English): PROSPER CHITAMBARA, Economist 3. SOUNDBITE 2 (English): CHRISTOPHER MUGAGA, Economist 4. SOUNDBITE 3 (English): DENFORD MUTASHU, President of the Confederation of Zimbabwe Retailers STORYLINE: Despite not being officially dollarized, the Zimbabwean economy has largely accepted the U.S. dollar as the medium of trade. Economists warn that the increased use of the greenback has brought challenges to the local economy. SOUNDBITE 1 (English): PROSPER CHITAMBARA, Economist "So when you are dollarized, the government is not able to fully influence macroeconomic aggregates through the monetary policy or even through the fiscal policy, so using the local currency allows us enough degrees of freedom to be able to influence macroeconomic objectives and aggregates and developments within the economy." SOU

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Ghana central bank announces further rate hike to restrain inflationary pressure

STORY: Ghana central bank announces further rate hike to restrain inflationary pressure DATELINE: Feb. 1, 2023 LENGTH: 00:03:02 LOCATION: Accra CATEGORY: ECONOMY SHOTLIST: 1. various of the Bank of Ghana 2. various of the MPC press briefing 3. various of the central business district 4. SOUNDBITE 1 (English): ERNEST ADDISON, Governor of the Bank of Ghana 5. various of the central business district 6. SOUNDBITE 2 (English): ERNEST ADDISON, Governor of the Bank of Ghana 7. various of the central business district 8. various of cocoa STORYLINE: Ghana's central bank announced a 100 basis points hike in its benchmark lending rate Monday to restrain inflationary pressure and support macroeconomic adjustments. Ernest Addison, Governor of the Bank of Ghana, announced this at a press briefing after the bank's Monetary Policy Committee (MPC) meeting. SOUNDBITE 1 (English): ERNEST ADDISON, Governor of the Bank of Ghana "The MPC sees the need to remain vigilant and moderate liquidity in the system to underpin the ma

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Global economy projected to grow 1.9 pct in 2023: UN report

STORY: Global economy projected to grow 1.9 pct in 2023: UN report DATELINE: Jan. 26, 2023 LENGTH: 00:01:56 LOCATION: UN Headquarters CATEGORY: ECONOMY SHOTLIST: 1. various of UN officials taking seats 2. SOUNDBITE 1 (English): LI JUNHUA, UN under-secretary-general for economic and social affairs 3. various of journalists 4. SOUNDBITE 2 (English): LI JUNHUA, UN under-secretary-general for economic and social affairs 5. screenshot of slide show 6. SOUNDBITE 3 (English): HAMID RASHID, Chief of Global Economic Monitoring Branch, UN Department of Economic and Social Affairs 7. various of press briefing room STORYLINE: World output growth is projected to decelerate from an estimated 3.0 percent in 2022 to 1.9 percent in 2023, marking one of the lowest growth rates in recent decades, according to a UN report launched on Wednesday. The UN World Economic Situation and Prospects 2023 report predicted global growth to moderately pick up to 2.7 percent in 2024, as some macroeconomic headwinds are expected to begin t

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French government's fuel subsidy ends on December 31

STORY: French government's fuel subsidy ends on December 31 DATELINE: Dec. 31, 2022 LENGTH: 00:02:21 LOCATION: Paris CATEGORY: ECONOMY SHOTLIST: 1. various of gas stations 2. SOUNDBITE 1 (French): HENRI, Freelancer 3. SOUNDBITE 2 (French): CHRISTELLE, Restorer 4. SOUNDBITE 3 (French): GILDAS, Local and regional government official STORYLINE: December 31 marks not only the end of 2022, but also the end of the French fuel subsidy. From the first hours of 2023, the price of a full tank of petrol or diesel will increase. The fuel subsidy took effect in September, reducing the fuel price by 30 cents a liter until mid-November and by 10 cents thereafter. SOUNDBITE 1 (French): HENRI, Resident "I think it is regrettable that the government is ending its support for fuel. It should continue to provide this support to all taxpayers. Because with today's geopolitical and macroeconomic factors, indicators show that it should continue its support because the conflict is far from over." SOUNDBITE 2 (French): CHRISTEL

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Gov't panel members foresee real 2.2% growth in FY 2008

TOKYO, Japan - Prime Minister Shinzo Abe (2nd R) chairs a meeting of the Council on Economic and Fiscal Policy at his official residence on Aug. 6. Private-sector members of the key governmental economic panel unveiled their estimate for Japan's macroeconomic conditions in the next fiscal year starting in April 2008, forecasting a real 2.2 percent growth from the previous year.

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Asia currency surveillance

SINGAPORE, Singapore - Wei Benhua, director of the ASEAN+3 Macroeconomic Research Office, speaks during an interview in Singapore on Jan. 31, 2012. The East Asia currency surveillance body was officially launched that day.

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ASEAN+3 financial surveillance

SINGAPORE, Singapore - Wei Benhua, director of the ASEAN+3 Macroeconomic and Research Office, speaks during a ceremony marking the setting up of the office in Singapore on Jan. 31, 2012. AMRO will perform regional financial surveillance as part of the Chiang Mai Initiative Multilateralization currency swap facility.

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Japan, S. Korea to hold regular economic planning meetings

SEOUL, South Korea - Japanese national policy minister Motohisa Furukawa (L) and South Korean Strategy and Finance Minister Bahk Jae Wan shake hands before their meeting in Seoul on Nov. 27, 2011. They agreed that ministers in charge of economic planning from both countries would hold regular meetings to review macroeconomic trends and exchange views on economic strategies.

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Tokyo stocks rise on final day, but suffer record loss

TOKYO, Japan - Popular Japanese badminton pair Kumiko Ogura (L) and Reiko Shiota ring the bell during the annual closing ceremony at the Tokyo Stock Exchange in Tokyo's Nihombashi area on Dec. 30. Tokyo stocks rose in the year's final, half-day session, but the key Nikkei index ended 2008 with its steepest one-year percentage drop of 42.1 percent, reflecting investor sentiment battered by a string of macroeconomic and corporate woes.

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Tokyo stocks tumble, Nikkei ends with 2nd largest drop

TOKYO, Japan - A signboard at a securities company in Tokyo's Nihonbashi district shows the 225-issue Nikkei Stock Average dropping 1,089.02 points, or 11.41 percent, to 8,458.45, its second-largest single-day percentage drop. The overnight 700-point plunge of the Dow Jones industrials on sluggish macroeconomic readings battered investor confidence.

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Scholars call on major economies to work together to tackle pressing global challenges

STORY: Scholars call on major economies to work together to tackle pressing global challenges DATELINE: Nov. 16, 2022 LENGTH: 0:02:08 LOCATION: Canberra/Ankara/BALI, Indonesia CATEGORY: ECONOMY SHOTLIST: 1. various of venue of the G20 summit 2. SOUNDBITE 1 (English): SELCUK COLAKOGLU, Director of the Turkish Center of Asia Pacific Studies 3. SOUNDBITE 2 (English): PETER DRYSDALE, Economist at the Australian National University 4. SOUNDBITE 3 (English): CHRISTINE SUSANNA TJHIN, Director of Strategic Research, Gentala Institute in Indonesia STORYLINE: The international community has pinned high hopes on the 17th Group of 20 (G20) summit held Tuesday and Wednesday in Bali, Indonesia to tackle the pressing challenges facing the whole world. Many experts and economists have called on major economies to strengthen coordination on macroeconomic policies and promote multilateralism, openness, inclusiveness and win-win cooperation at the summit. SOUNDBITE 1 (English): SELCUK COLAKOGLU, Director of the Turkish Cen

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Entrepreneur, bankers' macroeconomic heat indexes improve quarter on quarter: China's central bank surveys

STORY: Entrepreneur, bankers' macroeconomic heat indexes improve quarter on quarter: China's central bank surveys DATELINE: Oct. 10, 2022 LENGTH: 00:01:05 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of China's central bank 2. various of Chinese banks 3. various of mansions STORYLINE: Surveys conducted by China's central bank found that both the entrepreneur and bankers' macroeconomic heat indexes, reflecting the two groups' judgement on the current macroeconomic situation, improved quarter on quarter. In the July-September period, the entrepreneur macroeconomic heat index stood at 26.9 percent, while the bankers' macroeconomic heat index reversed a downward trend to reach 19.9 percent, up 2.1 percentage points from the second quarter. The central bank said that of the over 5,000 industrial companies surveyed nationwide, 52.2 percent considered the macroeconomic climate "normal." After surveying some 20,000 depositors in 50 cities across the country, the central bank found more urban residen

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Putin urges economic measures to cushion sanctions

STORY: Putin urges economic measures to cushion sanctions DATELINE: Oct. 7, 2022 LENGTH: 00:01:06 LOCATION: Moscow CATEGORY: ECONOMY SHOTLIST: 1. various of Putin speaking at a government meeting on economic issues via video link STORYLINE: Russian President Vladimir Putin on Thursday demanded economic measures in response to Western sanctions, which are expected to intensify. At a government meeting on economic issues via video link, Putin said it is necessary to plan flexible, effective actions for both short and medium terms and consistently implement them. He asked the government and the central bank to ensure a sustainable recovery of macroeconomic indicators. He noted that export-oriented sectors remain under pressure, primarily those targeting European countries, and it takes time for Russian exporters to switch to other markets. Meanwhile, Putin pointed out some positive trends, as industrial production had returned to the level of the previous year. Xinhua News Agency correspondents reporting

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CHILE-SANTIAGO-LATAM-ECONOMY

(220824) -- SANTIAGO, Aug. 24, 2022 (Xinhua) -- Mario Cimoli (R), acting executive secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), and Daniel Titelman, director of ECLAC's Development Studies, attend a press conference in Santiago, Chile, Aug. 23, 2022. The Latin America and the Caribbean region is likely to see average economic expansion of 2.7 percent in 2022, reverting to pre-pandemic sluggish growth amid strong external and domestic macroeconomic restrictions, the Santiago-based ECLAC said on Tuesday. (Photo by Jorge Villegas/Xinhua)

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CHILE-SANTIAGO-LATAM-ECONOMY

(220824) -- SANTIAGO, Aug. 24, 2022 (Xinhua) -- Mario Cimoli (R), acting executive secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), and Daniel Titelman, director of ECLAC's Development Studies, attend a press conference in Santiago, Chile, Aug. 23, 2022. The Latin America and the Caribbean region is likely to see average economic expansion of 2.7 percent in 2022, reverting to pre-pandemic sluggish growth amid strong external and domestic macroeconomic restrictions, the Santiago-based ECLAC said on Tuesday. (Photo by Jorge Villegas/Xinhua)

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CHILE-SANTIAGO-LATAM-ECONOMY

(220824) -- SANTIAGO, Aug. 24, 2022 (Xinhua) -- Mario Cimoli, acting executive secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), attends a press conference in Santiago, Chile, Aug. 23, 2022. The Latin America and the Caribbean region is likely to see average economic expansion of 2.7 percent in 2022, reverting to pre-pandemic sluggish growth amid strong external and domestic macroeconomic restrictions, the Santiago-based ECLAC said on Tuesday. (Photo by Jorge Villegas/Xinhua)

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CHILE-SANTIAGO-LATAM-ECONOMY

(220824) -- SANTIAGO, Aug. 24, 2022 (Xinhua) -- Photo taken on Aug. 23, 2022 shows the release of the annual Economic Survey of Latin America and the Caribbean 2022 by the Economic Commission for Latin America and the Caribbean (ECLAC) in Santiago, Chile. The Latin America and the Caribbean region is likely to see average economic expansion of 2.7 percent in 2022, reverting to pre-pandemic sluggish growth amid strong external and domestic macroeconomic restrictions, the Santiago-based ECLAC said on Tuesday. (Photo by Jorge Villegas/Xinhua)

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Marcos unveils plans to sustain Philippines' economic recovery amid global uncertainty

STORY: Marcos unveils plans to sustain Philippines' economic recovery amid global uncertainty DATELINE: July 26, 2022 LENGTH: 00:01:40 LOCATION: Manila CATEGORY: POLITICS/ECONOMY SHOTLIST: 1. various of Marcos arriving at the congress (courtesy of RTVM) 3. various of Marcos entering the congress building (courtesy of RTVM) 4. various of Marcos speaking (courtesy of RTVM) 5. SOUNDBITE (English): FERDINAND ROMUALDEZ MARCOS, Philippine President (courtesy of RTVM) STORYLINE: Philippine President Ferdinand Romualdez Marcos on Monday unveiled his plans in his first state of the nation address to ensure economic growth amid global uncertainties. Marcos, who won a six-year presidential term in May presidential election, focused on the people's immediate needs, such as food security and how to protect the poorest segments of the population from soaring prices. "The recent past and the COVID-19 pandemic has beset the macroeconomic environment with challenges and a series of external shocks," Marcos said, no

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Russia successfully deals with sanctions: Putin

STORY: Russia successfully deals with sanctions: Putin DATELINE: May 24, 2022 LENGTH: 00:01:30 LOCATION: Moscow CATEGORY: POLITICS SHOTLIST: 1. various of street views in Moscow 2. various of Russian President Vladimir Putin visiting Belarusian President Alexander Lukashenko 3. various of street views in Poland STORYLINE: Russian President Vladimir Putin said Monday that the Russian economy is withstanding the blow of Western sanctions "quite well" despite all the difficulties, as was evidenced by all the key macroeconomic indicators. The Kremlin said Putin made the remarks during talks with visiting Belarusian President Alexander Lukashenko in Russia's Black Sea resort city of Sochi. According to Putin, the leaders met because the situations regarding the regional security, the security of the two countries, and the economy "call for a serious and profound conversation." Putin noted that Russia and Belarus have many spheres of joint work, including in sectors of energy and agriculture. Lukashenko said

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GLOBALink | China's economy shows resiliency despite global challenges: economists

STORY: China's economy shows resiliency despite global challenges: economists DATELINE: April 20, 2022 LENGTH: 00:01:30 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of the views in China 2. SOUNDBITE 1 (Turkish): SINAN ALCIN, Turkish economics and management consultant 3. SOUNDBITE 2 (Chinese): WANG JINBIN, Deputy dean of School of Economics, Renmin University of China 4. SOUNDBITE 3 (Chinese): GUO LIYAN, Researcher with Chinese Academy of Macroeconomic Research 5. SOUNDBITE 4 (Chinese): LI DAOKUI, Head of Academic Center for Chinese Economic Practice and Thinking at Tsinghua University STORYLINE: China's economic growth in the first quarter of this year exceeds the expectations and will be a great support for the global economy, economists have said. According to data from China's National Bureau of Statistics, the country's gross domestic product (GDP) grew 4.8 percent year on year in the first quarter, marking a steady start in 2022 in the face of global challenges and a resurgence of COVID

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Dutch think tank projects 5.2 pct inflation rate in 2022, stresses uncertainty

STORY: Dutch think tank projects 5.2 pct inflation rate in 2022, stresses uncertainty DATELINE: March 12, 2022 LENGTH: 00:00:42 LOCATION: THE HAGUE,the Netherlands CATEGORY: ECONOMY SHOTLIST: 1. Various of a gas station in the Hague, the Netherlands, March 10, 2022. 2. Various of busy business streets in the center of the Hague, the Netherlands, March 10, 2022. STORYLINE: Inflation in the Netherlands is projected to rise significantly in 2022 as energy prices continue to soar, the Bureau for Economic Policy Analysis (CPB) said on Wednesday. In its "Central Economic Plan 2022," the government's macroeconomic think tank outlined its key economic projections for the current year. The continued increase in energy prices comes on top of an already high inflation rate, which is partly due to the economic impact of the COVID-19 pandemic. The CPB expects inflation in the Netherlands to be 5.2 percent in 2022. In the worst-case scenario, if energy prices remain high, inflation could hit 6 percent. In the most op

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Gov't panel members foresee real 2.2% growth in FY 2008

TOKYO, Japan - Prime Minister Shinzo Abe (2nd R) chairs a meeting of the Council on Economic and Fiscal Policy at his official residence on Aug. 6. Private-sector members of the key governmental economic panel unveiled their estimate for Japan's macroeconomic conditions in the next fiscal year starting in April 2008, forecasting a real 2.2 percent growth from the previous year. (Kyodo)

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Tokyo stocks tumble, Nikkei ends with 2nd largest drop

TOKYO, Japan - A signboard at a securities company in Tokyo's Nihonbashi district shows the 225-issue Nikkei Stock Average dropping 1,089.02 points, or 11.41 percent, to 8,458.45, its second-largest single-day percentage drop. The overnight 700-point plunge of the Dow Jones industrials on sluggish macroeconomic readings battered investor confidence. (Kyodo)

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Tokyo stocks rise on final day, but suffer record loss

TOKYO, Japan - Popular Japanese badminton pair Kumiko Ogura (L) and Reiko Shiota ring the bell during the annual closing ceremony at the Tokyo Stock Exchange in Tokyo's Nihombashi area on Dec. 30. Tokyo stocks rose in the year's final, half-day session, but the key Nikkei index ended 2008 with its steepest one-year percentage drop of 42.1 percent, reflecting investor sentiment battered by a string of macroeconomic and corporate woes. (Kyodo)