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Lower-priced reserve rice released

WATARI, Japan, May 29 Kyodo - Rice stockpiles are delivered to household equipment maker Iris Ohyama Inc.'s rice polishing plant in Watari in Miyagi Prefecture, northeastern Japan, on May 29, 2025. The Japanese government launched a new scheme to release lower-priced reserve rice harvested in 2021 and 2022 via direct contracts with retailers -- not by the previous auction-based method -- to curb elevated rice prices. (Kyodo)

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Lower-priced reserve rice released

Rice stockpiles are delivered to household equipment maker Iris Ohyama Inc.'s rice polishing plant in Watari in Miyagi Prefecture, northeastern Japan, on May 29, 2025. The Japanese government launched a new scheme to release lower-priced reserve rice harvested in 2021 and 2022 via direct contracts with retailers -- not by the previous auction-based method -- to curb elevated rice prices.

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Lower-priced reserve rice released

Rice stockpiles are delivered to household equipment maker Iris Ohyama Inc.'s rice polishing plant in Watari in Miyagi Prefecture, northeastern Japan, on May 29, 2025. The Japanese government launched a new scheme to release lower-priced reserve rice harvested in 2021 and 2022 via direct contracts with retailers -- not by the previous auction-based method -- to curb elevated rice prices.

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Lower-priced reserve rice released

Rice stockpiles are delivered to household equipment maker Iris Ohyama Inc.'s rice polishing plant in Watari in Miyagi Prefecture, northeastern Japan, on May 29, 2025. The Japanese government launched a new scheme to release lower-priced reserve rice harvested in 2021 and 2022 via direct contracts with retailers -- not by the previous auction-based method -- to curb elevated rice prices.

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Lower-priced reserve rice released

Rice stockpiles are delivered to household equipment maker Iris Ohyama Inc.'s rice polishing plant in Watari in Miyagi Prefecture, northeastern Japan, on May 29, 2025. The Japanese government launched a new scheme to release lower-priced reserve rice harvested in 2021 and 2022 via direct contracts with retailers -- not by the previous auction-based method -- to curb elevated rice prices.

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Kenyan central bank raises benchmark rate to 8.75 percent amid surge in inflation

STORY: Kenyan central bank raises benchmark rate to 8.75 pct amid surge in inflation DATELINE: Nov. 25, 2022 LENGTH: 0:01:41 LOCATION: Nairobi CATEGORY: ECONOMY SHOTLIST: 1. various of Kenya 2. SOUNDBITE (English): PATRICK NJOROGE, Governor of the Central Bank of Kenya 3. various of Kenya STORYLINE: The Central Bank of Kenya (CBK) on Wednesday raised its benchmark lending rate to 8.75 percent from 8.25 percent amid rising inflation. Patrick Njoroge, CBK Governor, who chaired the Monetary Policy Committee (MPC) meeting noted that the current elevated global risks and their potential impact on the domestic economy provides scope for a further tightening of the monetary policy to anchor inflation expectations. SOUNDBITE (English): PATRICK NJOROGE, Governor of the Central Bank of Kenya "Number and percent, 9.6 percent. And you can see it's been driven largely by food and fuel prices, but largely food. So this is the contribution to overall inflation. So it is important to appreciate why it is we in, this is

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World Bank downgrades India's growth forecast to 6.5 pct

STORY: World Bank downgrades India's growth forecast to 6.5 pct DATELINE: Oct. 7, 2022 LENGTH: 0:01:31 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of banks 2. various of shopping mall STORYLINE: The World Bank on Thursday downgraded India's economic growth forecast to 6.5 percent for the current fiscal year (2022-23) from its earlier estimate of 7.5 percent announced in June. The international financial institution cited the deteriorating international environment for the downgrade. "The Indian economy will slow down in FY23, coming off a strong but incomplete recovery in FY22 (April 2021-March 2022). The spillovers from the Russia-Ukraine war and the global monetary policy tightening cycle weigh on India's economic outlook," the report said. Elevated inflation on the back of higher prices of key commodities, heightened global uncertainty, and rising borrowing costs will affect domestic demand while slowing global growth inhibits India's export growth, it said. In its biannual report on

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India's trade deficit almost triples in one year

STORY: India's trade deficit almost triples in one year DATELINE: Aug. 14, 2022 LENGTH: 00:01:35 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of India gate 2. various of market 3. various of fuel station 4. various of coal mine area 5. various of traffic STORYLINE: India's trade deficit almost tripled to a record 30 billion U.S. dollars in July compared to a year ago, said official data released by the country's Commerce and Industry Ministry. The rise in trade deficit has been attributed to a surge in imports driven by elevated global commodity prices. According to the data, merchandise exports rose by 2.1 percent in July to 36.3 billion dollars compared to the previous year, while imports jumped by 43.6 percent to 66.3 billion dollars. Overall exports fell 9.5 percent in July as compared to June, said the data. The data further showed that during the first four months of this financial year, exports grew 20.1 percent to 157.4 billion dollars, while imports jumped 48.1 percen

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U.S. Fed raises rates by another three-quarter point amid persistent inflation

STORY: U.S. Fed raises rates by another three-quarter point amid persistent inflation DATELINE: July 28, 2022 LENGTH: 00:01:47 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of Jerome Powell addressing the press 2. various of exterior of U.S. Federal Reserve STORYLINE: The U.S. Federal Reserve on Wednesday raised its benchmark interest rate by 75 basis points, the second in a row of that magnitude, as elevated inflation showed no clear sign of easing. The Fed said in a statement after a two-day policy meeting that "Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher food and energy prices, and broader price pressures," adding that the central bank is "highly attentive to inflation risks." The Fed said that "The war (in Ukraine) and related events are creating additional upward pressure on inflation and are weighing on global economic activity." The Federal Open Market Committee (FOMC), the Fed's policy-making body, decided to rai

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Biden calls on Congress to suspend federal gas tax for 90 days

STORY: Biden calls on Congress to suspend federal gas tax for 90 days DATELINE: June 23, 2022 LENGTH: 00:01:07 LOCATION: Washington D.C. CATEGORY: POLITICS/ECONOMY/SOCIETY SHOTLIST: 1. SOUNDBITE (English): JOE BIDEN, U.S. President 2. various of the White House STORYLINE: U.S. President Joe Biden on Wednesday called on Congress to suspend federal gas tax for 90 days, as Americans are frustrated by the nation's soaring gas prices. SOUNDBITE (English): JOE BIDEN, U.S. President "Today I'm calling on Congress to suspend the federal gas tax for the next 90 days, through the busy summer season, busy travel season. " Biden's proposal came as the American Automobile Association (AAA) reported that the national average price for a gallon of regular gasoline remains elevated at 4.955 U.S. dollars on Wednesday, slightly down from the 5.014 dollars a week ago, but still much higher than the 3.069 dollars a year ago. In his speech, Biden also called on states to either suspend the state gas tax as well or find othe

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U.S. Fed raises rates by three-quarter point amid inflation surprises

STORY: U.S. Fed raises rates by three-quarter point amid inflation surprises DATELINE: June 16, 2022 LENGTH: 00:01:14 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of the press conference STORYLINE: The U.S. Federal Reserve on Wednesday raised its benchmark interest rate by 75 basis points, marking the sharpest rate hike since 1994, as data released in recent days indicated inflation showed no clear sign of easing. "Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher energy prices, and broader price pressures," the Fed said in a statement after a two-day policy meeting, adding that the Fed is "highly attentive to inflation risks." The Federal Open Market Committee (FOMC), the Fed's policy-making body, decided to raise the target range for the federal funds rate to 1.5 to 1.75 percent and "anticipates that ongoing increases in the target range will be appropriate." The statement showed that 10 committee members voted for the deci

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U.S.-NEW YORK-CONSUMER INFLATION-INCREASE

(220610) -- NEW YORK, June 10, 2022 (Xinhua) -- Gas prices are displayed at a gas station in the Brooklyn borough of New York, the United States, on June 10, 2022. U.S. consumer inflation in May surged 8.6 percent from a year ago, indicating inflation remains elevated despite the Federal Reserve's rate hikes, the U.S. Labor Department reported Friday. (Photo by Michael Nagle/Xinhua)

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U.S.-NEW YORK-CONSUMER INFLATION-INCREASE

(220610) -- NEW YORK, June 10, 2022 (Xinhua) -- Gas prices are displayed at a gas station in the Brooklyn borough of New York, the United States, on June 10, 2022. U.S. consumer inflation in May surged 8.6 percent from a year ago, indicating inflation remains elevated despite the Federal Reserve's rate hikes, the U.S. Labor Department reported Friday. (Photo by Michael Nagle/Xinhua)

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Developing Asia to grow by 5.2 pct in 2022: ADB

STORY: Developing Asia to grow by 5.2 pct in 2022: ADB DATELINE: April 6, 2022 LENGTH: 00:02:48 LOCATION: Manila CATEGORY: ECONOMY SHOTLIST: 1. footage of ADB 2. aerial footage of the Philippines 3. footage of a port in Manila 4. Manila streets STORYLINE: Developing Asia's economy is forecast to grow by 5.2 percent this year and 5.3 percent in 2023, according to an Asian Development Bank (ADB) report released on Wednesday. The Asian Development Outlook (ADO) 2022, the Manila-based bank's flagship annual economic publication, says gross domestic product (GDP) in the region will expand "on continued recovery in domestic demand and solid exports." In 2021, developing Asia's economy rebounded by 6.9 percent, but the report says the recovery is still "largely incomplete in most regions." The report predicts inflation to rise to 3.7 percent in 2022 and 3.1 percent in 2023 as the economic recovery continues and energy, commodity prices remain elevated. It warns that rising inflationary pressures and supply dis

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Turkey's annual inflation hits record high

STORY: Turkey's annual inflation hits record high DATELINE: April 5, 2022 LENGTH: 0:02:09 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of a supermarket in Turkey 2. various of Turkish President Recep Tayyip Erdogan 3. various of Turkey's central bank 4. various of a market in Turkey STORYLINE: Turkey's annual inflation hit a new record high at 61.14 percent in March, featuring rising energy and food prices, the Turkish Statistical Institute announced on Monday. The country's consumer prices rose by 5.46 percent month on month in March, according to the data released by the institute. The highest annual price increase was in transport with 99.12 percent, followed by foods and non-alcoholic beverages with 70.33 percent, and furnishings and household equipment with 69.26 percent, respectively. Meanwhile, the domestic producer price index increased by 9.19 percent on a monthly basis, with an annual rise of 114.97 percent in March. Turkey has been struggling with elevated inflation,

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U.S.-OIL RESERVE-RELEASE

(220401) -- WASHINGTON, April 1, 2022 (Xinhua) -- Photo taken on March 31, 2022 shows a gas station in Arlington, Virginia, the United States. U.S. President Joe Biden on Thursday announced that his administration will release 1 million barrels of oil per day for the next six months from its strategic reserve in an effort to tame the elevated gas prices. The authorization of releasing over 180 million barrels from the U.S. Strategic Petroleum Reserve is the "largest" release from national reserve in U.S. history, Biden said in a speech from the Eisenhower Executive Office Building. (Xinhua/Liu Jie)

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U.S.-OIL RESERVE-RELEASE

(220401) -- WASHINGTON, April 1, 2022 (Xinhua) -- People fill up their vehicles at a gas station in Arlington, Virginia, the United States, March 31, 2022. U.S. President Joe Biden on Thursday announced that his administration will release 1 million barrels of oil per day for the next six months from its strategic reserve in an effort to tame the elevated gas prices. The authorization of releasing over 180 million barrels from the U.S. Strategic Petroleum Reserve is the "largest" release from national reserve in U.S. history, Biden said in a speech from the Eisenhower Executive Office Building. (Xinhua/Liu Jie)

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U.S.-OIL RESERVE-RELEASE

(220401) -- WASHINGTON, April 1, 2022 (Xinhua) -- Photo taken on March 31, 2022 shows a gas station in Arlington, Virginia, the United States. U.S. President Joe Biden on Thursday announced that his administration will release 1 million barrels of oil per day for the next six months from its strategic reserve in an effort to tame the elevated gas prices. The authorization of releasing over 180 million barrels from the U.S. Strategic Petroleum Reserve is the "largest" release from national reserve in U.S. history, Biden said in a speech from the Eisenhower Executive Office Building. (Xinhua/Liu Jie)

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U.S.-OIL RESERVE-RELEASE

(220401) -- WASHINGTON, April 1, 2022 (Xinhua) -- Photo taken on March 31, 2022 shows a gas station in Arlington, Virginia, the United States. U.S. President Joe Biden on Thursday announced that his administration will release 1 million barrels of oil per day for the next six months from its strategic reserve in an effort to tame the elevated gas prices. The authorization of releasing over 180 million barrels from the U.S. Strategic Petroleum Reserve is the "largest" release from national reserve in U.S. history, Biden said in a speech from the Eisenhower Executive Office Building. (Xinhua/Liu Jie)

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U.S.-OIL RESERVE-RELEASE

(220401) -- WASHINGTON, April 1, 2022 (Xinhua) -- Gas prices are displayed at a gas station in Arlington, Virginia, the United States, March 31, 2022. U.S. President Joe Biden on Thursday announced that his administration will release 1 million barrels of oil per day for the next six months from its strategic reserve in an effort to tame the elevated gas prices. The authorization of releasing over 180 million barrels from the U.S. Strategic Petroleum Reserve is the "largest" release from national reserve in U.S. history, Biden said in a speech from the Eisenhower Executive Office Building. (Xinhua/Liu Jie)

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U.S.-OIL RESERVE-RELEASE

(220401) -- WASHINGTON, April 1, 2022 (Xinhua) -- Photo taken on March 31, 2022 shows a gas station in Arlington, Virginia, the United States. U.S. President Joe Biden on Thursday announced that his administration will release 1 million barrels of oil per day for the next six months from its strategic reserve in an effort to tame the elevated gas prices. The authorization of releasing over 180 million barrels from the U.S. Strategic Petroleum Reserve is the "largest" release from national reserve in U.S. history, Biden said in a speech from the Eisenhower Executive Office Building. (Xinhua/Liu Jie)

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U.S.-OIL RESERVE-RELEASE

(220401) -- WASHINGTON, April 1, 2022 (Xinhua) -- Gas prices are displayed at a gas station in Arlington, Virginia, the United States, March 31, 2022. U.S. President Joe Biden on Thursday announced that his administration will release 1 million barrels of oil per day for the next six months from its strategic reserve in an effort to tame the elevated gas prices. The authorization of releasing over 180 million barrels from the U.S. Strategic Petroleum Reserve is the "largest" release from national reserve in U.S. history, Biden said in a speech from the Eisenhower Executive Office Building. (Xinhua/Liu Jie)

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Biden announces "historic" oil reserve release amid elevated gas prices

STORY: Biden announces "historic" oil reserve release amid elevated gas prices DATELINE: April 1, 2022 LENGTH: 00:01:54 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. SOUNDBITE (English): JOE BIDEN, U.S. President STORYLINE: U.S. President Joe Biden on Thursday announced that his administration will release one million barrels of oil per day for the next six months from its strategic reserve in an effort to tame the elevated gas prices. The authorization of releasing over 180 million barrels from the U.S. Strategic Petroleum Reserve is the "largest" release from national reserve in U.S. history, Biden said in a speech from the Eisenhower Executive Office Building. SOUNDBITE (English): JOE BIDEN, U.S. President "As Russian oil comes off the global market, supply of oil drops and prices are rising. Look, I'm a capitalist. I have no problem with corporations turning a good profit. But companies have an obligation that goes beyond just their shareholders: to their customers, their communities,

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Ghana announces record rate hike to curb rising inflation

STORY: Ghana announces record rate hike to curb rising inflation DATELINE: March 23, 2022 LENGTH: 00:01:55 LOCATION: Accra CATEGORY: ECONOMY SHOTLIST: 1. various of black stars squad 2. various of Accra central business district. 3. SOUNDBITE (English): ERNEST ADDISON, Bank of Ghana Governor 4. various of Accra central business district STORYLINE: Ghana's central bank on Monday announced a tightening of its monetary policy stance with a record hike in the policy rate to slow down inflation. At a press briefing, Bank of Ghana Governor Ernest Addison announced an increase in the benchmark policy rate by 250 basis points to 17 percent to tame ballooning commodity prices on the local market and curb the rising inflation. He said the policy rate hike, the highest over the past 20 years, would arrest the rising inflation rate, which surged to 15.7 percent in February. The governor attributed the elevated inflationary risk to the rising cost of food and petroleum products, part of which he blamed on t

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Lebanese queue at gas stations amid fears over fuel price surge

STORY: Lebanese queue at gas stations amid fears over fuel price surge DATELINE: March 8, 2022 LENGTH: 0:02:32 LOCATION: Beirut CATEGORY: ECONOMY SHOTLIST: 1 various of cars queuing at gas station 2 SOUNDBITE 1 (Arabic): NAYLA AHMADI, Beirut resident 3 SOUNDBITE 2 (Arabic): HAJJ MOHAMAD MAKKI, Oil importer 4 various of the gas station STORYLINE: Many Lebanese flocked to gas stations on Monday to fill their tanks in fear that the energy ministry would issue its new elevated oil prices soon, as oil prices jumped to multi-year highs recently amid the ongoing Russia-Ukraine conflict. SOUNDBITE 1 (Arabic): NAYLA AHMADI, Beirut resident "The Lebanese are suffering. I was supposed to do an operation today, but I could not do it because of the fuel issue. We slept in the car yesterday. They promised to fill my car after half an hour, but now they refused to fill it as the minister said he does not accept any increase in prices of gasoline. What's next? What is the solution? How much does it cost? How can people a

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Turkey's inflation hits 54.44 pct, highest in 20 years

STORY: Turkey's inflation hits 54.44 pct, highest in 20 years DATELINE: March 4, 2022 LENGTH: 00:01:19 LOCATION: Ankara CATEGORY: SOCIETY/ECONOMY SHOTLIST: 1. various of a freighter 2. various of the street view 3. various of people shopping STORYLINE: Turkey's annual inflation rose by 54.44 percent in February, the highest since 2002, the Turkish Statistical Institute announced on Thursday. The country's consumer prices soared 4.81 percent month on month in February, according to the data. Meanwhile, the producer price index increased by 7.22 percent on a monthly basis, with an annual rise of 105.01 percent. In February, the highest annual price increase was in transport with 75.75 percent, followed by furnishings and household equipment with 64.83 percent and food and non-alcoholic beverage with 64.47 percent. The country's annual inflation rate was 48.69 percent in January. Turkey has been struggling with elevated inflation, which puts pressure on its population with rising living co