Egypt expects 2 bln USD in revenue from expat customs-free car import initiative

STORY: Egypt expects 2 bln USD in revenue from expat customs-free car import initiative SHOOTING TIME: June 20, 2024 DATELINE: June 21, 2024 LENGTH: 00:00:58 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of Egyptian Finance Minister Mohamed Maait 2. various of an Egyptian port 3. various of new cars STORYLINE: Egyptian Finance Minister Mohamed Maait said on Thursday that the applications registered by expats, with an aim of benefiting from the zero-customs car import initiative, push expectations to about 2 billion U.S. dollars in revenue. The minister said that more than 250,000 "import approvals" have been issued, and over 35,000 imported cars have been released so far. The initiative allows expatriates to bring one personal-use vehicle to Egypt without incurring customs duties or taxes, including the value-added tax (VAT). Egyptians living abroad should make a five-year bank deposit in foreign currency. After five years, expatriates can withdraw their money in Egyptian pounds accor

BMW to further invest 2.8 bln USD in NE China production base

STORY: BMW to further invest 2.8 bln USD in NE China production base SHOOTING TIME: recent footage DATELINE: April 27, 2024 LENGTH: 0:01:12 LOCATION: SHENYANG, China CATEGORY: ECONOMY SHOTLIST: 1. various of BMW 2. SOUNDBITE (English): OLIVER ZIPSE, Chairman of the Board of Management of BMW AG 3. various of BMW STORYLINE: German carmaker BMW announced on Friday an additional investment of 20 billion yuan (about 2.81 billion U.S. dollars) in its production base in Shenyang, capital of northeast China's Liaoning Province. The carmaker said the investment will be used for upgrading as well as technological innovation of the Dadong plant of BMW Group's joint venture in China, BMW Brilliance Automotive Ltd. (BBA). "The planned investment underlines not only our confidence in China's long-term economic prospects, but also in the innovation capabilities of our Chinese partners," said Oliver Zipse, chairman of the Board of Management of BMW AG, in a speech. SOUNDBITE (English): OLIVER ZIPSE, Chairman of the

India's defense exports reach all-time high of 2.63 bln USD

STORY: India's defense exports reach all-time high of 2.63 bln USD SHOOTING TIME: File footage DATELINE: April 3, 2024 LENGTH: 00:01:20 LOCATION: New Delhi CATEGORY: MILITARY SHOTLIST: 1. various of India Gate 2. various of Indian government buildings 2. various of tanks and missiles on parade STORYLINE: India's defense exports reached an all-time high of 2.63 billion U.S. dollars during the financial year 2023-24 running from April 2023 to the end of March 2024, announced the federal government on Monday. The figure registered a 32.5 percent growth over the last financial year, it said. The data indicated that the defense exports have grown by 31 times in the last 10 years as compared to the financial year 2013-14, said a statement issued by the ministry of defense. Xinhua News Agency correspondents reporting from New Delhi. (XHTV)

India's forex reserves rise to 642.49 bln USD as rupee falls

STORY: India's forex reserves rise to 642.49 bln USD as rupee falls SHOOTING TIME: March 20, 2024 DATELINE: March 25, 2024 LENGTH: 00:01:16 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of the India gate 2. various of the Reserve Bank of India 3. various of a market STORYLINE: India's foreign exchange reserves reached an all-time high of 642.49 billion U.S. dollars during the week ended on March 15, the country's central bank has reported. This was the fourth straight week with an increase in the forex reserves for the South Asian country. According to the Reserve Bank of India on Friday, the forex reserves rose by nearly 6.4 billion dollars during the week ended on March 15. The foreign currency assets stood at 568.386 billion dollars, while the gold reserves amounted to 51.14 billion dollars during the cited week, the data showed. Meanwhile, the Indian rupee fell to its lowest level of 83.43 against the U.S. dollar, due to broad weakness in its Asian peers and the aggressive

Deals totaling 8.54 bln USD inked at China-France forum

STORY: Deals totaling 8.54 bln USD inked at China-France forum SHOOTING TIME: March 20, 2024 DATELINE: March 22, 2024 LENGTH: 00:01:50 LOCATION: WUHAN, China CATEGORY: ECONOMY SHOTLIST: 1. various of the forum 2. various of the project 3. STANDUP (French/English): YUE WENWAN, Xinhua correspondent 4. SOUNDBITE (French): JEROME LE GALL, Deputy general director of ARTE Charpentier STORYLINE: Deals worth 60.6 billion yuan (about 8.54 billion U.S. dollars) covering 58 projects were signed at the 7th China-France Forum on Urban Sustainable Development held in China's Wuhan on Wednesday. The forum was hosted to mark the 10th anniversary of China and France's signing the joint agreement to build the Sino-French Wuhan Ecological Demonstration City. The project, covering an area of 39 square kilometers, has integrated Chinese and French ecological urban construction concepts and is rising as a popular spot for residents and companies. STANDUP (French/English): YUE WENWAN, Xinhua correspondent "Les petits ruisseau

British Petroleum to invest 1.5 bln USD in Egypt for development, exploration activities

STORY: British Petroleum to invest 1.5 bln USD in Egypt for development, exploration activities SHOOTING TIME: Feb. 19, 2024 DATELINE: Feb. 20, 2024 LENGTH: 0:00:47 LOCATION: Cairo CATEGORY: POLITICS/ECONOMY SHOTLIST: 1. Egyptian President Abdel-Fattah al-Sisi meeting with BP Chief Executive Officer Murray Auchincloss (courtesy of the Egyptian Presidency) STORYLINE: Energy giant British Petroleum (BP) planned 1.5-billion-U.S. dollar new investments for development and exploration activities in Egypt, the Egyptian presidency said on Monday. The announcement was made after a meeting in Cairo between Egyptian President Abdel-Fattah al-Sisi and BP Chief Executive Officer Murray Auchincloss in Cairo, said the statement. During the meeting, Auchincloss announced that there is a potential for an additional 5 billion U.S. dollars in investments over the coming years, according to the statement. He affirmed BP's keenness on further boosting its investment in the field of oil and gas exploration in Egypt

Chinese language learning market shows great potential, says expert

STORY: Chinese language learning market shows great potential, says expert SHOOTING TIME: Dec. 20, 2023 DATELINE: Dec. 23, 2023 LENGTH: 00:02:02 LOCATION: FUZHOU, China CATEGORY: EDUCATION SHOTLIST: 1. various of the First Overseas Chinese Talent Conference for Development in China's Fuzhou 2. SOUNDBITE 1 (Chinese): DANIEL SHEK, Associate vice president of Hong Kong Polytechnic University 3. various of participants 4. SOUNDBITE 2 (Chinese): ELIZABETH WOO LI, Chairwoman of Sinological Development Charitable Foundation 5. various of participants 6. various of Fuzhou (file) STORYLINE: Cooperation agreements worth over 7 billion yuan (about 989 million USD) were reached at the First Overseas Chinese Talent Conference for Development in China's Fuzhou. The three-day event, jointly hosted by the All-China Federation of Returned Overseas Chinese and the provincial government of Fujian, concluded on Friday. During the event, a series of activities concerning overseas Chinese talent and economic development in k

Foreign specialty crops thrive amid China's economic vitality

STORY: Foreign specialty crops thrive amid China's economic vitality SHOOTING TIME: File DATELINE: Nov. 20, 2023 LENGTH: 00:02:23 LOCATION: KUNMING, China CATEGORY: ECONOMY SHOTLIST: 1. various of the planting areas of coffee, avocados and macadamia nuts 2. SOUNDBITE 1 (Chinese): DENG JIALU, General manager, Yunnan Simao Beigui Coffee Co., Ltd. 3. SOUNDBITE 2 (Chinese): ZHAWA, Manager at an avocado planting base in Nanya Village, Menglian County STORYLINE: Coffee, avocados and macadamia nuts, originating from various parts of the world, have been widely grown in China's Yunnan, earning widespread acclaim in the global market. Pu'er City, famous for Pu'er tea, a deep-brewed tea with a sweet aroma, is making a name for itself as China's coffee capital. In 2022, the city's coffee planting area reached 679,000 mu (about 45,267 hectares), and the output value of the coffee industry exceeded 5 billion yuan (about 696 million USD). It has become a leading city within China in terms of both coffee production an

Extreme weather to cost Italian farmers 6.5 bln USD this year: report

STORY: Extreme weather to cost Italian farmers 6.5 bln USD this year: report DATELINE: Aug. 20, 2023 LENGTH: 00:00:55 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of market in Rome STORYLINE: Intensive heatwaves and extreme weather that gripped Italy for most of this year will cost Italian farmers at least 6 billion euros (6.5 billion U.S. dollars), according to estimates from the country's main agricultural union Coldiretti. Coldiretti said the year so far had been "a black year" for the agricultural sector. In its report published Friday, the group said that Italy had experienced an average of nearly 11 extreme weather events per day so far this year, including hailstorms, tornadoes, flash floods and windstorms in addition to long and intense series of heatwaves. This year in Italy is already the third-hottest on record, the report said, with average temperatures 0.67 degrees Celsius above historic norms. The series of heatwaves in Italy this year have meant record-high temperatures were reg

Türkiye, UAE sign 13 agreements worth 50.7 bln USD

STORY: Türkiye, UAE sign 13 agreements worth 50.7 bln USD DATELINE: July 20, 2023 LENGTH: 00:01:19 LOCATION: Ankara CATEGORY: POLITICS/ECONOMY SHOTLIST: 1. various of Turkish President Recep Tayyip Erdogan visiting UAE, meeting with UAE President Sheikh Mohamed bin Zayed Al Nahyan, and agreements signing ceremony between two countries in UAE (courtesy of ihlas news agency) STORYLINE: Türkiye and the United Arab Emirates (UAE) signed 13 bilateral agreements worth 50.7 billion U.S. dollars during the visit of Turkish President Recep Tayyip Erdogan to Abu Dhabi on Wednesday, the president's office said. The agreements, which cover energy, transportation, infrastructure, logistics, e-commerce, finance, health, food, tourism, real estate, construction, defense industry, artificial intelligence and advanced technologies, were signed in the presence of Erdogan and UAE President Sheikh Mohamed bin Zayed Al Nahyan. In a statement, Erdogan's office said the agreements would "raise the (bilateral) relations between

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)

Egypt's Suez Canal earns record revenue of 7.9 bln USD in 2022

STORY: Egypt's Suez Canal earns record revenue of 7.9 bln USD in 2022 DATELINE: Dec. 20, 2022 LENGTH: 0:01:08 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of Suez Canal Authority (SCA) Chairman Osama Rabie 2. various of Suez Canal and ships STORYLINE: Egypt's Suez Canal registered a record-breaking revenue of 7.932 billion U.S. dollars in 2022, the chairman of Egypt's Suez Canal Authority (SCA) announced Monday. "The revenues of 2022 are the highest in the SCA's history," Osama Rabie told the parliament in a public session. The revenue for 2021 was 6.333 billion dollars. More than 23,000 ships carrying 1.4 billion tonnes of cargo passed the navigation course in 2022, up from 21,700 ships in the previous year, he said. Wael Qaddour, the SCA's former deputy chairman, attributed the record revenue to the high demand for oil as maritime energy transport depends greatly on the canal. Qaddour expected the revenues to keep rising in the coming years as the transit fees will be increased by

Egypt, Maersk to cooperate on 15-bln-USD clean fuels project for ships

STORY: Egypt, Maersk to cooperate on 15-bln-USD clean fuels project for ships DATELINE: Sept. 20, 2022 LENGTH: 00:00:50 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of Suez Canal STORYLINE: Egyptian President Abdel-Fattah al-Sisi on Monday instructed the government to cooperate with Maersk, one of the world's largest container shipping lines, to establish a network to produce and distribute green energy and clean fuels for ships. Sisi discussed with Maersk Chief Executive Officer Soren Skou "a project to produce clean fuel for ships in Egypt with investments of 15 billion U.S. dollars," the Egyptian presidency said in a statement. The project will provide more than 100,000 job opportunities, it added. They also discussed ways to strengthen cooperation between the Suez Canal Authority and Maersk, particularly in the areas of training, exchange of expertise, maritime transport, logistics, container handling terminals, and maritime services. Xinhua News Agency correspondents reporting from Cairo

Algeria inks 4-bln-USD gas deal with 3 int'l energy groups

STORY: Algeria inks 4-bln-USD gas deal with 3 int'l energy groups DATELINE: July 20, 2022 LENGTH: 00:01:47 LOCATION: Algiers CATEGORY: ECONOMY SHOTLIST: 1. various of the signing ceremony 2. SOUNDBITE (Arabic): MOHAMED ARKAB, Algeria's Minister of Energy and Mines STORYLINE: Algeria's state-owned oil company Sonatrach inked on Tuesday in Algiers a deal worth 4 billion U.S. dollars with three energy companies from Europe and the United States. The agreement reached between Sonatrach and U.S. company Occidental, Italy's Eni, and France's Total Energy, will supply Italy with natural gas amid a likely cut of Russian gas to Europe. Under the contract, Sonatrach and the three Western oil companies will develop the Berkin gas field, located 300 km southeast of Hassi Messaoud, in the south of Algeria. SOUNDBITE (Arabic): MOHAMED ARKAB, Algeria's Minister of Energy and Mines "This four-billion-U.S. dollar-worth deal will allow for an additional one billion barrels of oil equivalent to be extracted, and the

Ukraine to receive 1.7 bln USD from int'l donors: PM

STORY: Ukraine to receive 1.7 bln USD from int'l donors: PM DATELINE: July 10, 2022 LENGTH: 00:00:47 LOCATION: Kiev CATEGORY: ECONOMY SHOTLIST: various of Kiev STORYLINE: Ukrainian Prime Minister Denys Shmyhal said Saturday on Telegram that Ukraine will receive 1.7 billion U.S. dollars in grant aid from international donors. The money will be channeled to Ukraine through a single-donor trust fund set up by the International Bank for Reconstruction and Development, the International Development Association and the U.S. Agency for International Development. The funds will be used to cover Ukraine's budget expenditures on medical services under a medical guarantee program. Ukrainian Finance Minister Serhiy Marchenko said at a public event last month that Kiev plans to raise 20 billion dollars in international aid from its Western partners by the end of 2022. Xinhua News Agency correspondents reporting from Kiev. (XHTV)

Japan to invest 42 billion USD in India over next 5 years

STORY: Japan to invest 42 billion USD in India over next 5 years DATELINE: March 20, 2022 LENGTH: 00:02:06 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of India gate 2. various of government buildings 3. various of market area 4. various of crowded wholesale market area 5. various of high voltage transmission lines 6. various of metro train 7. various of traffic STORYLINE: Japan will invest 42 billion U.S. dollars in India over the next five years, Indian Prime Minister Narendra Modi announced Saturday. He was accompanied by visiting Japanese Prime Minister Fumio Kishida. Addressing the media after their meeting, the two leaders noted with appreciation the significant growth in economic cooperation between the two countries. They expressed satisfaction that the investment target of 3.5 trillion Japanese Yen (29 billion U.S. dollars) announced in 2014 had been achieved, said a joint statement issued after their talks. The joint statement also said that the two welcomed the launch of the Ind