UBS to buy Credit Suisse: Swiss gov't

STORY: UBS to buy Credit Suisse: Swiss gov't DATELINE: March 20, 2023 LENGTH: 0:01:34 LOCATION: GENEVA, Switzerland CATEGORY: ECONOMY SHOTLIST: 1. various of Swiss Federal Council and Credit Suisse STORYLINE: Credit Suisse will be taken over by Swiss banking giant UBS, the Swiss federal government said on Sunday. On Friday, the liquidity outflows and market volatility showed that it was no longer possible to restore the necessary confidence and that a swift and stabilizing solution was absolutely necessary, the government said. "In this difficult situation, the takeover of Credit Suisse by UBS is the best solution for restoring the confidence that has been lacking in financial markets recently, and for best managing the risk to our country and its citizens," the government said. Under the terms of the all-share transaction, Credit Suisse shareholders will receive 1 UBS share for every 22.48 Credit Suisse shares held, equivalent to CHF 0.76/share for a total consideration of 3 billion Swiss francs

U.S.-WASHINGTON, D.C.-IMF-CHIEF-PRESS CONFERENCE

U.S.-WASHINGTON, D.C.-IMF-CHIEF-PRESS CONFERENCE

(221013) -- WASHINGTON, Oct. 13, 2022 (Xinhua) -- IMF Managing Director Kristalina Georgieva speaks at a press conference in Washington, D.C., the United States, on Oct. 13, 2022. Emerging markets and developing countries are being hit by a stronger dollar, high borrowing costs, and capital outflows -- a triple blow particularly heavy for countries that are under a high level of debt, the chief of the International Monetary Fund (IMF) said Thursday. (Xinhua/Liu Jie)

U.S.-WASHINGTON, D.C.-IMF-CHIEF-PRESS CONFERENCE

U.S.-WASHINGTON, D.C.-IMF-CHIEF-PRESS CONFERENCE

(221013) -- WASHINGTON, Oct. 13, 2022 (Xinhua) -- IMF Managing Director Kristalina Georgieva speaks at a press conference in Washington, D.C., the United States, on Oct. 13, 2022. Emerging markets and developing countries are being hit by a stronger dollar, high borrowing costs, and capital outflows -- a triple blow particularly heavy for countries that are under a high level of debt, the chief of the International Monetary Fund (IMF) said Thursday. (Xinhua/Liu Jie)

U.S.-WASHINGTON, D.C.-IMF-CHIEF-PRESS CONFERENCE

U.S.-WASHINGTON, D.C.-IMF-CHIEF-PRESS CONFERENCE

(221013) -- WASHINGTON, Oct. 13, 2022 (Xinhua) -- IMF Managing Director Kristalina Georgieva speaks at a press conference in Washington, D.C., the United States, on Oct. 13, 2022. Emerging markets and developing countries are being hit by a stronger dollar, high borrowing costs, and capital outflows -- a triple blow particularly heavy for countries that are under a high level of debt, the chief of the International Monetary Fund (IMF) said Thursday. (Xinhua/Liu Jie)

U.S.-WASHINGTON, D.C.-IMF-CHIEF-PRESS CONFERENCE

U.S.-WASHINGTON, D.C.-IMF-CHIEF-PRESS CONFERENCE

(221013) -- WASHINGTON, Oct. 13, 2022 (Xinhua) -- IMF Managing Director Kristalina Georgieva (R, Rear) speaks at a press conference in Washington, D.C., the United States, on Oct. 13, 2022. Emerging markets and developing countries are being hit by a stronger dollar, high borrowing costs, and capital outflows -- a triple blow particularly heavy for countries that are under a high level of debt, the chief of the International Monetary Fund (IMF) said Thursday. (Xinhua/Liu Jie)

Fed's response to higher inflation in U.S. put pressure on developing countries: economist

STORY: Fed's response to higher inflation in U.S. put pressure on developing countries: economist DATELINE: Sept. 29, 2022 LENGTH: 00:01:59 LOCATION: Washington D.C. CATEGORY: POLITICS/ECONOMY SHOTLIST: 1. various of street view of East Asia countries 2. SOUNDBITE (English): AADITYA MATTOO, World Bank East Asia and Pacific Chief Economist STORYLINE: The World Bank said Monday that the developing East Asia and Pacific (EAP) region is projected to grow by 3.2 percent this year. According to the World Bank's newly released East Asia and Pacific Economic Update, the region's growth is projected to slow this year from 7.2 percent in 2021, before accelerating to 4.6 percent next year. The report noted that rising inflation abroad has provoked interest rate increases, which in turn have caused capital outflows and currency depreciations in some East Asia and Pacific countries. SOUNDBITE (English): AADITYA MATTOO, World Bank East Asia and Pacific Chief Economist "I think the (U.S.) Fed's response to higher i

Thai economist says U.S. interest rate hikes add capital outflow risks, hurt economies

STORY: Thai economist says U.S. interest rate hikes add capital outflow risks, hurt economies DATELINE: June 25, 2022 LENGTH: 00:01:48 LOCATION: Bangkok CATEGORY: ECONOMY SHOTLIST: 1. SOUNDBITE (English): KIRIDA BHAOPICHITR, Research director for int'l economics and development policy, Thailand Development Research Institute 2. various of Thai economy STORYLINE: Kirida Bhaopichitr, a senior Thai economist from Thailand Development Research Institute, has said that the U.S. interest rate hikes will increase the risk of capital outflows in emerging economies, and will put countries with too much U.S. dollar-denominated debt in trouble. SOUNDBITE (English): KIRIDA BHAOPICHITR, Research director for int'l economics and development policy, Thailand Development Research Institute "(There) definitely will be risk for countries, especially countries that have a lot of capital inflows that are short-term and can flow out easily. So those countries definitely will face the outflows issue, because when their interes

Entry to central part of "Japan's Machu Picchu" to resume in March

Entry to central part of "Japan's Machu Picchu" to resume in March

Photo taken in July 2014 shows workers spreading a waterproof sheet over the central part of the Takeda Castle ruins in western Japan to prevent soil outflows, caused by the tramping down of vegetation by tourists, from damaging the feudal-era ruins. (Kyodo) ==Kyodo