- 1. Asia should focus on improving domestic demand: ADB
Asia should not pin its hopes on the recovery of advanced economies like the United States and should instead focus its efforts on improving domestic demand to ensure a sustainable, long-term growth trajectory, the Asian Development Bank says.
Echoing warnings of other international institutions, Cyn-Young Park, Principal Economist of the Office...
- 2. Japanese government upgrades economic outlook: report
The Japanese government upgraded its economic outlook for the nation but noted that the current recovery stage is still not self-sustaining, according to a monthly report released by the Cabinet Office on Friday.
The report for June states that, "Although the economy has been picking up steadily and the foundation for a self-sustaining reco...
- 3. China calls for "growth-friendly" fiscal consolidation in world economic recovery
China's fiscal risk is controllable as it aims for a balanced economy, a senior finance official said Friday in a call for "growth-friendly" fiscal consolidation of the world economy.
"According to some indicators, the fiscal risk China is facing is controllable, and China's fiscal development retains sound momentum," said Vi...
- 4. Obama urges G20 leaders to act together to strengthen global recovery
The top priority of the upcoming G-20 summit in Toronto "must be to safeguard and strengthen the recovery," U.S. President Barack Obama said.
"We worked exceptionally hard to restore growth; we cannot falter or lose strength now," the president wrote in a letter to G-20 leaders that was made public Friday.
"This means...
- 5. Malaysia's auto sales up 16% in May
Malaysia registered a year-on- year increase of 16 percent in auto sales in May to 50,845 units due to improved market conditions and rising output, said Malaysian Automotive Association on (MAA) Friday.
In a statement issued on Friday, MAA attributed the sales growth to the continued favorable market conditions and output increase which enable ...
- 6. Thailand to revise up investments' value for 2010
Thailand's Industry Ministry over the next 1-2 months will revise up a targeted value of new investment requests for 2010, Industry Minister Chaiwut Bannawat said Friday, the Thai News Agency (TNA) reported.
The ministry's current target of receiving the new investment requests from companies is valued at 500 billion baht (15.43 billion U.S. dol...
