Turkish economy grows by 5.7 pct in Q1

STORY: Turkish economy grows by 5.7 pct in Q1 SHOOTING TIME: Recent footage DATELINE: June 1, 2024 LENGTH: 00:01:36 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of an engine factory in Türkiye (courtesy of ihlas news agency) 2. various of textile factories in Türkiye (courtesy of ihlas news agency) 3. various of Türkiye's Treasury and Finance Minister Mehmet Simsek 4. various of an iron products factory in Türkiye (courtesy of ihlas news agency) 5. various of construction sites in Türkiye (courtesy of Hatay Municipality) STORYLINE: The Turkish economy grew 5.7 percent year-on-year in the first quarter of 2024, slightly above expectations, according to official figures on Friday. Thus, the Turkish economy has grown for 15 consecutive quarters since the second quarter of 2020, when COVID-19 pandemic measures were implemented, the data released by the Turkish Statistical Institute shows. Despite the ongoing monetary tightening policy, household consumption accelerated in the run-up to the local e

NW China's Xinjiang sees foreign trade value up 42.7 pct in Q1

STORY: NW China's Xinjiang sees foreign trade value up 42.7 pct in Q1 SHOOTING TIME: April 10, 2024 DATELINE: April 20, 2024 LENGTH: 0:00:57 LOCATION: URUMQI, China CATEGORY: ECONOMY SHOTLIST: 1. various of Horgos Port in Horgos, northwest China's Xinjiang Uygur Autonomous Region 2. various of a China-Europe freight train 3. various of Horgos Port in Horgos, northwest China's Xinjiang Uygur Autonomous Region STORYLINE: Total import and export value of goods in northwest China's Xinjiang Uygur Autonomous Region grew by 42.7 percent year on year to 93.63 billion yuan (about 13.2 billion U.S. dollars) in the first quarter of 2024, the second highest growth rate among all provinces, autonomous regions and municipalities in China, official data showed on Thursday. In March 2024 alone, Xinjiang's foreign trade value grew by 27.3 percent, registering growth for 29 consecutive months. From January to March, the region had conducted trade with 193 countries and regions across the globe. Kazakhstan and Kyrgyzstan

Lebanon: Israel Carries Out Airstrikes Near Sidon

Israel carried out 2 airstrikes targeting alleged Hezbollah weapons warehouse locations near Sidon on Monday, February 19. Lebanese state-run National News Agency reported that "Israeli warplanes carried out strikes on the town of Ghaziyeh". The Israeli army said that the attack was in "response to to the explosion of an enemy drone, the wreckage of which was found near the Tiberias area this afternoon." This live footage shows smoke billowing as seen from Sidon.

South African economy contracts marginally in Q3

STORY: South African economy contracts marginally in Q3 SHOOTING TIME: Dec. 5, 2023 DATELINE: Dec. 7, 2023 LENGTH: 00:02:22 LOCATION: JOHANNESBURG, South Africa CATEGORY: ECONOMY SHOTLIST: 1. various of the conference 2. SOUNDBITE (English): RISENGA MALULEKE, Statistician General, STATS SA STORYLINE: After two consecutive quarters of growth, South African real gross domestic product (GDP) contracted by 0.2 percent in the third quarter (July-September) of 2023. The contributions to the performance of the economy were evenly spread between the industries on the production side of the economy. The contributions ranged from -0.3 of a percentage point to +0.1 of a percentage point. On the household front, strained consumers cut back on consumption expenditure for a second consecutive quarter, reducing their spending on items such as transport, recreation and housing utilities, while spending more on items such as clothing & footwear and restaurants & hotels. SOUNDBITE (English): RISENGA MALULEKE, Statisticia

Turkish economy grows by 5.9 pct in Q3

STORY: Turkish economy grows by 5.9 pct in Q3 SHOOTING TIME: File DATELINE: Dec. 1, 2023 LENGTH: 0:01:18 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. Various of shipping trade in Türkiye (file, courtesy of ihlas news agency) 2. Various of some factories and employees in Türkiye (file) 3. Various of shipping trade in Türkiye (file, courtesy of ihlas news agency) 4. Various of shipping trade in Türkiye (file, courtesy of ihlas news agency) STORYLINE Turkish economy grew 5.9 percent year-on-year in the third quarter of 2023, the Turkish Statistical Institute announced Thursday. It is the 13th consecutive quarter of economic growth since the second quarter of 2020 when the COVID-19 pandemic measures were implemented. In the third quarter of the year, household consumption made the highest contribution to growth with 7.7 points, followed by investments with 3.4 points, while the contribution of public expenditures remained at 0.7 points, according to the statistics. Turkish Treasury and Finance Minister M

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

Sweden's GDP shrinks 1 pct in Q2: statistics

STORY: Sweden's GDP shrinks 1 pct in Q2: statistics DATELINE: Aug. 30, 2023 LENGTH: 00:01:59 LOCATION: Stockholm CATEGORY: ECONOMY SHOTLIST: 1. various of Sweden Statics 2. various of Stockholm city 3. various of shopping mall in Stockholm 4. various of Sweden Parliament 5. various of Stockholm City Hall 6. various of Sweden's central bank STORYLINE: Sweden's gross domestic product (GDP) shrunk by 1 percent year-on-year in the second quarter (Q2) of this year while household consumption decreased for the fourth consecutive quarter, according to statistics released on Tuesday. Compared to the first quarter (Q1) and seasonally adjusted, GDP dropped 0.8 percent, Statistics Sweden (SCB) said. The figures are slightly more positive than the preliminary ones released in July. Sweden's Q2 GDP contracted by 2.4 percent year-on-year and by 1.5 percent quarter-on-quarter, the SCB's preliminary figures said on July 28. "The second quarter of 2023 was generally weak with declines in several of the main com

Technical recession in Eurozone "not something to worry about": Spanish economist

STORY: Technical recession in Eurozone "not something to worry about": Spanish economist DATELINE: June 17, 2023 LENGTH: 00:01:47 LOCATION: Madrid CATEGORY: TECHNOLOGY SHOTLIST: 1. various of Sergi Basco, an associate professor of economics at Barcelona University 2. SOUNDBITE (Spanish): SERGI BASCO, Associate professor of economics at Barcelona University STORYLINE: The report by Eurostat last week that the Eurozone entered a technical recession at the start of 2023 after the economy shrank by 0.1 percent for a second consecutive quarter is "not something we have to worry about," Sergi Basco, an associate professor of economics at Barcelona University, told Xinhua in an interview on Friday. SOUNDBITE (Spanish): SERGI BASCO, Associate professor of economics at Barcelona University "The fall in GDP is what the European Central Bank (ECB) wants and it's not something we have to worry about. This is what always happens: when interest rates are high, the economy slows, and that's where we are right now. There

New Zealand GDP falls 0.1 pct in Q1 as recession starts

STORY: New Zealand GDP falls 0.1 pct in Q1 as recession starts DATELINE: June 16, 2023 LENGTH: 00:01:37 LOCATION: AUCKLAND, New Zealand CATEGORY: ECONOMY SHOTLIST: 1. various of Auckland and harbor 2. various of Auckland's largest container terminal 3. various of Auckland's commercial streets at night STORYLINE: The New Zealand economy has signaled a recession as the gross domestic product (GDP) fell for the second quarter, according to quarterly figures released by the statistics department Stats NZ on Thursday. The GDP fell 0.1 percent in the March 2023 quarter, following a 0.7 percent fall in the December 2022 quarter, Stats NZ said. The second consecutive quarter of negative economic growth signals the start of an economic recession. "Today's outcome fits the definition of a technical recession by the barest of margins," Finance Minister Grant Robertson said, adding the economy was affected by the second-largest natural disaster to hit New Zealand in the first quarter. This result reflects the impa

Bank of England raises rate to 4.25 pct

STORY: Bank of England raises rate to 4.25 pct DATELINE: March 24, 2023 LENGTH: 0:02:09 LOCATION: London CATEGORY: ECONOMY SHOTLIST: 1. various of Bank of England and Royal Exchange in London STORYLINE: The Bank of England (BoE) has raised its benchmark interest rate by 0.25 percentage points to 4.25 percent, the highest since autumn 2008, according to a BoE statement issued on Thursday. At its meeting ending on Wednesday, the central bank's Monetary Policy Committee (MPC) voted in favor of the increase by a majority of 7-2, said the statement. This is the 11th consecutive rate hike since December 2021 as the BoE continues its fight against inflation, which unexpectedly jumped to 10.4 percent in February, far above the BoE's 2 percent target. But the higher-than-expected inflation data did not change the central bank's forecast of a fall in inflation for the second quarter of 2023. The bank said inflation will fall to a lower rate than anticipated in the MPC's February Report, due to government support

Japan economy shrinks

Japan economy shrinks

TOKYO, Japan - Japan's economic and fiscal policy minister Kaoru Yosano speaks at a press conference in Tokyo on May 19, 2011. Japan's economy shrank an annualized real 3.7 percent in the January-March quarter, marking the second consecutive quarter of contraction.

Osaka wins 2nd straight basketball bj league title

Osaka wins 2nd straight basketball bj league title

TOKYO, Japan - Osaka Evessa team members celebrate after beating the Takamatsu Five Arrows 94-78 in Tokyo to win their second consecutive bj league title on April 22. Osaka, the top finisher in the regular season, led 70-63 after the third quarter and outscored Takamatsu by nine in the last quarter of the playoff final at Ariake Colosseum.

EPA chief explains Japan's economy

EPA chief explains Japan's economy

TOKYO, Japan - Economic Planning Agency (EPA) chief Taichi Sakaiya briefs reporters on Japan's economy at the EPA building in Tokyo on Sept. 11. The agency announced the nation's gross domestic product grew a real 1.0% in the April-June quarter from the previous quarter for the second consecutive quarterly rise.

U.S. dollar hegemony adds to economic challenges facing African countries: Nigerian expert

STORY: U.S. dollar hegemony adds to economic challenges facing African countries: Nigerian expert DATELINE: Aug. 6, 2022 LENGTH: 00:02:29 LOCATION: Abuja CATEGORY: ECONOMY SHOTLIST: 1. various of Nigeria's capital city 2. various of center for China studies office in Abuja 3. SOUNDBITE (English): CHARLES ONUNAIJU, Director, Center for China Studies, Nigeria STORYLINE: The U.S. economy contracted for the second straight quarter, with growth falling at a 0.9 percent annual rate in the April-June period. This has sparked a new debate about the faltering economy in the U.S. A Nigerian expert said this could be a very worrying trend, as African countries that rely on the U.S. market may face greater economic challenges due to the U.S. dollar hegemony. SOUNDBITE (English): CHARLES ONUNAIJU, Director, Center for China Studies, Nigeria "There is a broad understanding among economists that when there is a contraction in two consecutive quarters, as in the case of the United States, there is an obvious danger."

Osaka wins 2nd straight basketball bj league title

Osaka wins 2nd straight basketball bj league title

TOKYO, Japan - Osaka Evessa team members celebrate after beating the Takamatsu Five Arrows 94-78 in Tokyo to win their second consecutive bj league title on April 22. Osaka, the top finisher in the regular season, led 70-63 after the third quarter and outscored Takamatsu by nine in the last quarter of the playoff final at Ariake Colosseum. (Kyodo)

Japan economy shrinks

Japan economy shrinks

TOKYO, Japan - Japan's economic and fiscal policy minister Kaoru Yosano speaks at a press conference in Tokyo on May 19, 2011. Japan's economy shrank an annualized real 3.7 percent in the January-March quarter, marking the second consecutive quarter of contraction. (Kyodo)

EPA chief explains Japan's economy

EPA chief explains Japan's economy

TOKYO, Japan - Economic Planning Agency (EPA) chief Taichi Sakaiya briefs reporters on Japan's economy at the EPA building in Tokyo on Sept. 11. The agency announced the nation's gross domestic product grew a real 1.0% in the April-June quarter from the previous quarter for the second consecutive quarterly rise.