xinhua

Malaysia has climbed five spots to 27th place in the world’s most competitive economies, according to the International Institute for Management Development (IMD) World Competitiveness Ranking 2023 report revealed on Tuesday. IMD partnered with the Malaysia Productivity Corporation to assess the country’s performance. According to the report, Malaysia’s improvement in the rankings were mainly backed […]

South Korea logged current account deficit in April due to a dividend payment to foreign investors and a travel account deficit, central bank data showed on Thursday. Current account balance, the broadest measure of cross-border trade, posted a deficit of 790 million U.S. dollars in April, after recording a surplus of 160 million dollars in […]

Vietnam will need 368 billion U.S. dollars, or 6.8 percent of GDP per year, through 2040 to tackle climate change, the Vietnam News newspaper reported on Thursday. Vietnam’s latest power development plan estimated that the country would need 134.7 billion U.S. dollars to shift away from coal-fired power toward renewable energy, developing new power plants […]

The sales value of the manufacturing sector in Malaysia declined by 2 percent to 145 billion ringgit (31.44 billion U.S. dollars) in April, after registering a positive growth of 8 percent in March, the lowest since May 2020, official data showed Thursday. The Department of Statistics Malaysia (DOSM) said in a statement that the fall […]

China’s outbound tourism is recovering, and will see a boom during the upcoming Dragon Boat Festival holiday, which runs from June 22 to 24, said an industrial report. Outbound travel bookings for this holiday have surged by 12 times year on year, and popular destinations include Osaka, Tokyo, Seoul and the resort island of Jeju, […]

The UK economy returned to modest growth in April on strong consumer spending, official data showed Wednesday, stoking hopes it will avoid recession despite high inflation and rising interest rates. Gross domestic product increased by 0.2 percent in April following a fall of 0.3 percent in March, the Office for National Statistics said in a […]

Locked-up shares worth 387.5 billion yuan (about 54.5 billion U.S. dollars) will become eligible for trading on China’s bourses next week. From June 12 to 16, about 61.12 billion shares of 76 enterprises will become tradable, according to data from financial information provider Wind. Under China’s stock market rules, major shareholders must wait one to […]

President of the Republic of Honduras Iris Xiomara Castro Sarmiento arrived in Shanghai and started her China visit on Friday, expressing her expectations for the visit that will run until June 14. Noting that her visit to China is expected by the Honduran people, Castro said that recognizing the one-China principle, establishing diplomatic relations with […]

The Agricultural Bank of China, one of the country’s largest commercial lenders, has issued 20 billion yuan (about 2.8 billion U.S. dollars) of special financial bonds to support rural development. Raised funds will mainly be used to strengthen grain security and the integrated development of primary, secondary and tertiary industries in rural areas. The bonds […]

The Egyptian cabinet approved in a meeting on Wednesday to establish a new Suez Canal holding company to control two state-run companies that belonged to the Suez Canal Authority (SCA), the cabinet said in a statement. The new company, named Suez Canal Holding Company for Industries and Naval Services and Investments, will be headquartered in […]