The World Bank on Wednesday slightly scaled down its forecast of global economic growth rate to 2.2 percent for this year, 0.2 percentage point lower than its January forecast.
New Zealand has the potential to be the "fruit bowl" of Asia, a government minister said Thursday following the release of a report showing opportunities for growth in the fresh fruit sector.
China's growth trend is encouraging and the successful transformation of its economic structure will create significant opportunities for the world.
The Australian dollar fell Wednesday after news of disappointing economic growth in the first three months of the year.
The declining trend of manufacturing output seems to have been reversed but prospect of recovery remains fragile due to the prolonged recession in Europe, the United Nations reported on Tuesday.
The upside is that the Philippine economy grew by a stunning 7.8 percent during the first quarter of the year, the fastest among the emerging economies in the Asia- Pacific region. But the downside is that the country's stock market took a nosedive and the Philippine peso weakened in the aftermath of the strengthening of the U.S. dollar brought about by a slight but steady recovery of the U.S. economy.
The Philippine economy posted a 7.8 percent growth in the first quarter of this year, as against 6.5 percent in the same period last year, the National Statistical Coordination Board (NSCB) announced Thursday.
The International Monetary Fund (IMF) said Wednesday that the Chinese economy is expected to grow by around 7.75 percent this year despite weak and uncertain global conditions.
After a marked downturn over the past two years, the global economy is expected to gain momentum slowly for the rest of 2013 and 2014 on the back of accommodative monetary policies in developed and developing economies, a latest UN report said here Thursday.
China's manufacturing activity contracted in May, suggesting that economic growth is likely to keep dipping, as authorities have tightened policies over concerns of growing financial risks.
South Korea's economic effectiveness remained low compared with those in advanced economies, indicating that the economy depended on quantitative expansion in labor and capital for its growth, the local think tank said Wednesday.
Financial services firm Barclays has become the latest international financial institution to raise the 2013 growth forecast for the Philippines.
China's urban fixed asset investment grew 20.6 percent year on year to 9.13 trillion yuan (147.29 billion U.S. dollars) in the first four months of 2013, the National Bureau of Statistics (NBS) revealed on Monday.
The Hong Kong government released the First Quarter Economic Report 2013 on Friday. The territory sees a 2.8 percent year-on-year and 0.2 percent quarter-to-quarter real GDP growth.
A total of 1.12 million Chinese visited Thailand in the first quarter of 2013, a sharp rise of 98 percent from the same period last year, authorities said on Monday.
U.S. house prices rose 7.1 percent in the year through February, said the Federal Housing Finance Agency (FHFA) on Tuesday, indicating an increasingly confirmed recovery as many other housing indicators also suggest that the rebound in homebuilding activity is on firm footing.
China's economic growth in the first quarter of the year is at a reasonable level and the country will maintain its macro-economic policies, the central bank said Sunday in a statement.
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