Asia

South Korea’s foreign reserves up for third month to $419.97 billion in September 2024

The BOK attributed the rise to higher non-dollar asset values, driven by a weaker U.S. dollar and investment gains 

South Korea’s inflation slows to 3.5 year low of 1.6 percent in September

September's figure marked the lowest inflation level since February 2021 when consumer prices grew 1.4 percent

China’s external financial assets surpass $9.79 trillion by end of June

Financial liabilities exceeded $6.8 trillion at the same date, resulting in net external assets of nearly $2.99 trillion 

Japan’s manufacturing sector deteriorates slightly in September on weaker demand, says PMI

Japan's manufacturing PMI declined from 49.8 in August to 49.7 in September, indicating a slight slip in overall operating conditions

India dominates global IPO landscape with over 220 deals worth $12.2 billion: Report

The U.S. came in second with 133 deals of $23.1 billion while China ranked third with 69 transactions worth $5.3 billion

South Korea, China, and Japan unite to tackle plastic pollution

The three countries agreed to strengthen cooperation in reducing yellow dust levels, particularly in collaboration with Mongolia 

China’s international trade reaches $585.2 billion in August, 4 percent YoY growth

The nation's exports of goods and services totaled $322.4 billion, while imports were recorded at $263.5 billion

Russia remains one of leading energy market players despite challenges, says Putin

Russia's oil exports to Asia-Pacific region grew 1.5-fold and already exceeded 60 percent

South Korea’s public account deficit narrows to $34.8 billion in 2023

South Korea's public account logged a deficit for the fourth straight year due to economic uncertainties

Japan can raise renewable energy share to 80 percent by 2035: Report

Japan can reduce its CO2 emissions by 65 percent by increasing the number of storage batteries and grid interconnection

Japan’s land prices rise 1.4 percent as of July, marking three years of growth since 1992

This trend is attributed to heightened foreign investment spurred by the weak yen 

South Korea’s KASA, NASA collaborate on deep space exploration, lunar research, and space traffic management

The two entities pledged to identify innovative projects in space life sciences and deep space antennas

Bank of Japan maintains short-term rate steady at 0.25 percent, upgrades view on consumption

The Bank of Japan ended negative interest rates in March and hiked short-term rates to 0.25 percent in July

World Bank commits over $2 billion to support Bangladesh’s reforms

The Bank will reallocate $1 billion, totaling $3 billion in loans and grants for the fiscal year ending June 2025

China’s industrial output sees $6.4 billion export growth in August 2024

The industrial output, a key economic indicator, increased by 4.5 percent YoY in August

Indonesia targets 23 percent renewable energy share in total energy mix by 2025

This target encompasses a range of renewable sources, such as solar, wind, bioenergy, hydropower, and geothermal energy 

China welcomes 36,968 new foreign firms and $81.7 billion in FDI in first 8 months of 2024

The high-tech manufacturing sector accounted for 12.4 percent of the total FDI, amounting to 72.1 billion yuan

Japan’s wholesale inflation slows to 2.5 percent in August, easing BOJ price concerns

Currency's significant recovery last month impacted the import price index, which rose 2.6 percent after a 10.8 percent surge in July

Belt and Road Summit sees 19 agreements inked in key sectors on first day

Belt and Road Summit to explore the opportunities and potential areas of development as the initiative enters its next golden decade

South Korea invests $3.7 billion to revamp medical education by 2030

Starting in 2025, 1,000 full-time faculty will be added at state medical schools by 2027, including 330 next year 

India to establish national cyber criminal registry, train 5,000 cyber commandos

Home Minister Amit Shah emphasized that the national suspect registry will be vital in preventing future cybercrimes 

India’s foreign exchange reserves reach new peak of $684 billion in August 2024, says Central Bank

RBI noted that the reserves have been on an upward trend for some time