Tue, 07 Dec 2021

SINGAPORE -- Singapore's Ministry of Trade and Industry (MTI) announced on Wednesday that the city-state's economy is expected to grow by 3 to 5 percent in 2022.

The ministry said in a press release that GDP growth in most advanced economies is expected to moderate next year as compared to 2021 but remain above pre-COVID trend rates. (Singapore-Economy-Growth)

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SEOUL -- Sentiment among South Korean businesses over the economic situation remained stagnant this month, central bank data showed Wednesday.

The business sentiment index (BSI) for all industries stood at 86 in November, unchanged from the previous month, according to the Bank of Korea (BOK). (South Korea-Business Sentiment)

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WELLINGTON -- The rapid growth in trade between Asia and South America is opening the door for New Zealand to potentially reap billions in economic benefits as an aviation hub for travel and e-commerce trade, according to an NZ Institute of Economic Research (NZIER) report for the New Zealand China Council (NZCC) released on Wednesday.

The Southern Link was proposed by the NZCC in 2019 as a way for New Zealand to capitalize on the growing airborne trade links by making New Zealand a major conduit for the flow of people and goods between Asia and South America. (New Zealand-Southern Link)

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KIEV -- Ukrainian Prime Minister Denys Shmyhal on Tuesday welcomed the decision of the International Monetary Fund's (IMF) Executive Board to approve the second tranche of about 700 million U.S. dollars for Kiev, the Ukrainian government press service said.

In a statement posted on the government website, Shmyhal said that the fresh disbursement demonstrates the progress Ukraine has made in pursuing a policy of reforms. (Ukraine IMF Stand-By Arrangement)

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WASHINGTON -- The U.S. Department of Energy will make available releases of 50 million barrels of oil from the Strategic Petroleum Reserve (SPR) to lower oil prices and address the mismatch between demand exiting the pandemic and supply, the White House said.

Of the 50 million barrels, 32 million barrels will be an exchange over the next several months, releasing oil that will eventually return to the SPR in the years ahead, according to the White House. (U.S.-Strategic petroleum reserve)

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