Italy's growth forecast for 2024 revised up to 1 pct: ISTAT

STORY: Italy's growth forecast for 2024 revised up to 1 pct: ISTAT SHOOTING TIME: June 7, 2024 DATELINE: June 8, 2024 LENGTH: 00:00:41 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of Italy STORYLINE: The Italian economy is expected to grow by 1 percent this year, the country's National Institute of Statistics (ISTAT) said on Thursday, revising up a previous 0.7 percent projection. The country's gross domestic product (GDP) growth rate "will be supported by the contribution of both domestic net demand of inventories and net foreign demand," ISTAT said in its report. Italy, the third largest economy in the European Union after Germany and France, will then expand by 1.1 percent in 2025. Overall, ISTAT said that private consumption in the country continues to be supported by the strengthening of the labor market and an increase in real wages. "These dynamics will lead to a growth of 0.4 percent in household consumption in 2024 and of 1 percent in 2025," it said. The labor market is also expected

Sweden enters recession with GDP shrinking 0.3 pct in Q3

STORY: Sweden enters recession with GDP shrinking 0.3 pct in Q3 SHOOTING TIME: Nov. 29, 2023 DATELINE: Nov. 30, 2023 LENGTH: 00:02:29 LOCATION: Stockholm CATEGORY: ECONOMY SHOTLIST: 1. various of Statistics Sweden 2. various of Nordea Bank 3. various of Handelsbanken 4. various of street view of Stockholm STORYLINE: The Swedish economy is in recession following a contraction in the third quarter (Q3), according to official statistics released on Wednesday. The gross domestic product (GDP) decreased by 0.3 percent in Q3 compared with the previous quarter and by 1.4 percent compared with Q3 in 2022, Statistics Sweden said. "GDP decreased for the second consecutive quarter," Jessica Engdahl, head of section at Statistics Sweden's National Accounts Department, said in a press release. The decrease in Q2 was 0.8 percent from Q1 and 1 percent year-on-year, according to revised figures released by Statistics Sweden in August. The Q3 downturn was mainly driven by changes in inventories, particularly decreased

U.S. announces 1 bln USD in new aid for Ukraine as Blinken visits Kiev

STORY: U.S. announces 1 bln USD in new aid for Ukraine as Blinken visits Kiev DATELINE: Sept. 7, 2023 LENGTH: 00:01:16 LOCATION: Washington D.C. CATEGORY: POLITICS SHOTLIST: 1. SOUNDBITE (English): KARINE JEAN-PIERRE, White House Press Secretary 2. various of the White House 3. various of the Pentagon STORYLINE: U.S. Department of State announced 1 billion U.S. dollars in new aid for Ukraine on Wednesday while Secretary of State Antony Blinken made a surprise visit to Kiev to show support. The State Department said in a fact sheet that the new package includes an additional drawdown of up to 175 million dollars worth of weapons and equipment from the Department of Defense's inventories. What's notable among the capabilities in this round of security assistance is the 120mm depleted uranium tank ammunition for Abrams tanks, according to a list issued by the Pentagon. This is the first time Washington sends Kiev this type of ammunition, which is radioactive. SOUNDBITE (English): KARINE JEAN-PIERRE,

Japan's industrial output rises 0.8 pct in March

STORY: Japan's industrial output rises 0.8 pct in March DATELINE: April 28, 2023 LENGTH: 00:00:42 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of ports and industrial manufacturing in Japan STORYLINE: Japan's industrial output rose from a month earlier in March, marking the second straight month of increase, the Ministry of Economy, Trade and Industry said in a report on Friday. According to the ministry, industrial output in March rose 0.8 percent from the previous month, with the seasonally adjusted index of output at factories and mines standing at 95.7 against the base of 100 for 2015. The figure for March follows an upwardly revised 4.6 percent increase logged in February, the ministry's data showed. The ministry's data set also showed the index of industrial shipments were up 0.4 percent to 93.1, while inventories gained 0.6 percent to 104.1 in the recording period. Industrial output fell 0.2 percent from the previous year in fiscal 2022 ended March, the ministry also said. The minis

Automakers do not need to reconsider lean inventory system: Cho

Automakers do not need to reconsider lean inventory system: Cho

TOKYO, Japan - Fujio Cho, head of the Japan Automobile Manufacturers Association, speaking at a news conference in Tokyo on July 25. He says Japanese automakers do not need to reconsider their systems for minimizing inventories even though they were forced to suspend production after last week's powerful earthquake caused component supply disruptions.

Beef dish disappears from fast-food chain in Japan

Beef dish disappears from fast-food chain in Japan

OSAKA, Japan - An outlet of Osaka-based fast-food chain Nakau Co. in Yodogawa Ward informs customers of the removal of a popular beef dish from the menu on Feb. 2. Nakau removed the dish at almost all its outlets across Japan the same day as it has run out of beef inventories under Japan's ban on beef imports from the United States due to mad cow disease there.

Shoppers flock to Daiei stores for huge clearance sale

Shoppers flock to Daiei stores for huge clearance sale

TOKYO, Japan - Shoppers chose clothing at a clearance sale at an outlet of Daiei Inc. in Urayasu, Chiba Prefecture, on Feb. 24. The financially troubled supermarket chain -- Japan's largest supermarket operator -- began the huge discount sale at its 278 outlets nationwide to clear inventories of some 2.5 million items of clothing, with 90% off usual retail prices.

Malaysia's palm oil stocks rise 10.54 pct month on month in September

STORY: Malaysia's palm oil stocks rise 10.54 pct month on month in September DATELINE: Oct. 12, 2022 LENGTH: 00:01:39 LOCATION: Kuala Lumpur CATEGORY: ECONOMY SHOTLIST: 1. various of Kuala Lumpur City Centre view 2. various of workers harvesting palm seeds 3. various of palm oil plantation area 4. various of palm oil factory and oil truck STORYLINE: Data released by the Malaysian Palm Oil Board showed on Tuesday that Malaysia's September palm oil inventories rose 10.54 percent from August to 2.32 million tonnes. According to the data, the world's second-largest palm oil producer saw its crude palm oil production climb 2.59 percent month on month to 1.77 million tonnes. Meanwhile, its palm oil exports grew 9.25 percent month on month to 1.42 million tonnes. Palm oil imports, on the other hand, slumped 23.15 percent month on month to 132,303 tonnes. Xinhua News Agency correspondents reporting from Kuala Lumpur. (XHTV)

U.S. crude oil inventories up as oil prices surge again

STORY: U.S. crude oil inventories up as oil prices surge again DATELINE: March 9, 2022 LENGTH: 00:03:16 LOCATION: NEW YORK, the U.S. CATEGORY: ECONOMY SHOTLIST: 1. various of petrol stations in U.S. STORYLINE: The American Petroleum Institute on Tuesday reported an increase of 2.8 million barrels of crude oil in U.S. inventories for the week ending March 4. Analysts had expected a decrease of about 0.833 million barrels for the week. The institute reported a drop of 6.1 million barrels in the previous week. Oil prices surged again on Tuesday as the United States announced a ban on energy imports from Russia. The West Texas Intermediate for April delivery added 4.30 U.S. dollars, or 3.6 percent, to settle at 123.70 dollars a barrel on the New York Mercantile Exchange, its highest finish since August 2008, according to Dow Jones Market Data. Brent crude for May delivery increased 4.77 dollars, or 3.9 percent, to close at 127.98 dollars a barrel on the London ICE Futures Exchange,

Automakers do not need to reconsider lean inventory system: Cho

Automakers do not need to reconsider lean inventory system: Cho

TOKYO, Japan - Fujio Cho, head of the Japan Automobile Manufacturers Association, speaking at a news conference in Tokyo on July 25. He says Japanese automakers do not need to reconsider their systems for minimizing inventories even though they were forced to suspend production after last week's powerful earthquake caused component supply disruptions. (Kyodo)

Beef dish disappears from fast-food chain in Japan

Beef dish disappears from fast-food chain in Japan

OSAKA, Japan - An outlet of Osaka-based fast-food chain Nakau Co. in Yodogawa Ward informs customers of the removal of a popular beef dish from the menu on Feb. 2. Nakau removed the dish at almost all its outlets across Japan the same day as it has run out of beef inventories under Japan's ban on beef imports from the United States due to mad cow disease there. (Kyodo)