Risks to financial stability in Malaysia remain modest: Fitch Solutions

STORY: Risks to financial stability in Malaysia remain modest: Fitch Solutions DATELINE: April 18, 2023 LENGTH: 00:01:52 LOCATION: Kuala Lumpur CATEGORY: ECONOMY SHOTLIST: 1. various of Kuala Lumpur 2. various of Malaysian Central Bank and bank notes counting machine 3. various of container vessels at Port Klang, Selangor STORYLINE: Fitch Solutions said Monday it believes that downside risks to Malaysia's financial stability remain modest and that banks remain well-positioned to support financial intermediation, despite potential negative spillovers from banking stresses in the United States and Europe. The research house said in a statement that Malaysian banks on aggregate are likely to remain on a stable footing due to robust liquidity and capital buffers, as well as a much less restrictive monetary environment. It said Malaysian banks asset quality has also remained fairly stable despite the phasing out of support measures, and it is not expecting a significant deterioration in the months ahead. Fit

China's economic rebound to generate positive spillovers: IMF officials

STORY: China's economic rebound to generate positive spillovers: IMF officials DATELINE: April 15, 2023 LENGTH: 00:02:50 LOCATION: Washington, D.C CATEGORY: ECONOMY SHOTLIST: 1. various of IMF and World Bank Spring Meetings 2. various of IMF Managing Director Kristalina Georgieva 3. SOUNDBITE 1 (English): KRISTALINA GEORGIEVA, IMF Managing Director 4. various of China 5. SOUNDBITE 2 (English): KRISHNA SRINIVASAN, Director of the IMF's Asia and Pacific Department 6. various of China 7. SOUNDBITE 3 (English): PAN LIJUN, Xinhua correspondent 8. SOUNDBITE 4 (English): KRISHNA SRINIVASAN, Director of the IMF's Asia and Pacific Department 9. various of China STORYLINE: Senior officials of the International Monetary Fund (IMF) have spoken highly of the economic rebound in China, saying the recovery will provide more opportunities for other countries. At a press briefing during the IMF and World Bank Spring Meetings on Thursday, IMF Managing Director Kristalina Georgieva said that the IMF projected the Chinese ec

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

Egypt's net int'l reserves decline by 232 mln USD in July

STORY: Egypt's net int'l reserves decline by 232 mln USD in July DATELINE: Aug. 8, 2022 LENGTH: 00:00:52 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. wide shot of the River Nile in Cairo 2. various shots of the Central Bank of Egypt 3. various shots of an accountant counting banknotes 4. exterior shots of the National Bank of Egypt 5. various of street views STORYLINE: The Central Bank of Egypt (CBE) said on Sunday the country's net international reserves (NIRs) decreased by 232 million U.S. dollars in July to register 33.143 billion U.S. dollars, down from 33.3 billion U.S. dollars at the end of June. After the recovery from COVID-19's severe impacts, Egypt's NIRs continue to be hit by the spillovers of the Russia-Ukraine conflict that sparked in late February. As a result, Egypt's NIRs dropped in March to 37 billion U.S. dollars, down from 40.9 billion U.S. dollars in February. Xinhua News Agency correspondents reporting from Cairo. (XHTV)

IMF cuts 2022 global growth forecast to 3.2 pct, warns of downside risks

STORY: IMF cuts 2022 global growth forecast to 3.2 pct, warns of downside risks DATELINE: July 27, 2022 LENGTH: 00:00:42 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of the press conference 2. exterior view of the IMF headquarters in Washington D.C. STORYLINE: The International Monetary Fund (IMF) on Tuesday slashed the global growth forecast for 2022 to 3.2 percent, down by 0.4 percentage point from the April projection, according to its newly released update to the World Economic Outlook (WEO). Several shocks have hit the world economy already weakened by the COVID-19 pandemic, including higher-than-expected inflation worldwide -- especially in the United States and major European economies -- triggering tighter financial conditions, and further negative spillovers from the Ukrainian crisis, the WEO update said. According to the WEO update, global inflation has been revised up due to food and energy prices, and is anticipated to reach 6.6 percent in advanced economies and 9.5 per

GERMANY-G7-MEETING-FINANCE MINISTER-CHRISTIAN LINDNER

GERMANY-G7-MEETING-FINANCE MINISTER-CHRISTIAN LINDNER

(220521) -- FRANKFURT, May 21, 2022 (Xinhua) -- Photo taken in Frankfurt, Germany on May 20, 2022 shows a screen displaying German Finance Minister Christian Lindner speaking at a press conference after the G7 finance ministers and central governors meeting held in Germany's Petersberg. The Group of Seven (G7) countries are determined to rein in the spiraling inflation, Christian Lindner said on Friday. "Across most G7 countries, inflation rates have reached levels not seen for decades," said a communique released after the meeting. "G7 central banks are closely monitoring the impact of price pressures on inflation expectations and will continue to appropriately calibrate the pace of monetary policy tightening in a data-dependent and clearly communicated manner, ensuring that inflation expectations remain well anchored, while being mindful to safeguard the recovery and limit negative cross-country spillovers." (Xinhua/Lu Yang)

IMF cuts 2022 global growth forecast to 3.6 pct amid Russia-Ukraine conflict

STORY: IMF cuts 2022 global growth forecast to 3.6 pct amid Russia-Ukraine conflict DATELINE: April 20, 2022 LENGTH: 00:01:24 LOCATION: Washington D.C./Moscow/Kiev CATEGORY: POLITICS/MILITARY SHOTLIST: 1. various of general views 2. various of street views in Kiev 3. various of street views in Moscow STORYLINE: The International Monetary Fund (IMF) on Tuesday slashed global growth forecast for 2022 to 3.6 percent amid the Russia-Ukraine conflict, 0.8 percentage points lower than the January projection. According to its newly released World Economic Outlook report, the Ukraine crisis unfolds while the global economy is "on a mending path" but has not yet fully recovered from the COVID-19 pandemic. The report showed that a severe double-digit drop in gross domestic product (GDP) for Ukraine and a large contraction in Russia are "more than likely," along with worldwide spillovers through commodity markets, trade and financial channels. Also on Tuesday, Russian Foreign Minister Sergei Lavrov said the second

U.S. selective in imposing sanctions on Russia, showing double standards: experts

STORY: U.S. selective in imposing sanctions on Russia, showing double standards: experts DATELINE: March 15, 2022 LENGTH: 0:01:19 LOCATION: Beirut/Islamabad CATEGORY: POLITICS SHOTLIST: 1. SOUNDBITE 1 (Arabic): NAJIB MALAEB, Beirut-based security analyst and commentator 2. SOUNDBITE 2 (English): NAJMA MINHAS, Editor at Global Village Space in Pakistan STORYLINE: Since the start of Russia's special military operation in Ukraine, Western countries have imposed batches of sanctions on Russia. Analysts have warned of potential huge consequences and spillovers, and some have raised doubts over the specific sectors in Russia subject to the sanctions by the U.S. SOUNDBITE 1 (Arabic): NAJIB MALAEB, Beirut-based security analyst and commentator "We saw that sanctions were on some Russian banks, not all banks. Banks that cover proceeds from oil and gas in Russia were not subject to SWIFT sanctions. They (the U.S.) were being selective in imposing sanctions in respect for the interests of the U.S. and Europe." SOUN