Subscribe to our free daily newsletters
  Energy News  




Subscribe to our free daily newsletters



TRADE WARS
IMF raises 2017 growth outlook for South Korea
by Staff Writers
Seoul (AFP) Nov 14, 2017


The International Monetary Fund on Tuesday raised its 2017 growth forecast for South Korea, as improving exports and construction investment offset elevated geopolitical tensions over the North Korea nuclear crisis.

Wrapping up a two-week visit, the IMF said it expects Asia's fourth-largest economy to expand 3.2 percent this year, up from its earlier prediction of 3.0 percent.

"The momentum is very strong," Tarhan Feyzioglu, IMF's mission chief for the country, told reporters, adding that "3.2 percent is very feasible."

It also forecast growth of around three percent in 2018.

The improved outlook comes despite worries about Pyongyang's face-off with the United States after it launched a series of missiles and conducted a sixth nuclear test over several of weeks earlier this year

Feyzioglu said the growth was led by a strong expansion in investment in the IT and construction sectors as well as continued recovery of exports.

"Export growth strengthened thanks to improving external conditions and high global demand for semiconductors," he added.

The upward revision is higher than the outlook of South Korea's central bank, which last month raised its forecast to 3.0 percent citing moderate recovery of exports and domestic consumption.

South Korean chipmakers have reported record profits in recent months on growing demand from overseas buyers coupled with rising global chip prices.

Feyzioglu, however, warned that skyrocketing household debt, which exceeds 90 percent of South Korea's gross domestic product, was a key financial risk.

TRADE WARS
US slams World Bank lending to rich countries like China
Washington (AFP) Nov 8, 2017
World Bank lending to countries like China that are rich enough to finance their own development hurts poor countries that need help, a senior US Treasury official said Wednesday. David Malpass, Treasury's under secretary for International Affairs, cited China as a prime example of the practice, as the World Bank's biggest borrower with $2.4 billion in loans this year. The Trump administ ... read more

Related Links
Global Trade News


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
Improving sensor accuracy to prevent electrical grid overload

Japan faces challenges in cutting CO2, Moody's finds

IEA: An electrified world would cost $31B per year to achieve

'Fuel-secure' steps in Washington counterintuitive, green group says

TRADE WARS
Scientists make progress in quest for fusion energy

Cool textiles to beat the heat

A novel layered superconductor based on tin and arsenic

Scientists design smart paper capable of detecting water, conducting electricity

TRADE WARS
New York sets high bar for wind energy

Construction to begin on $160 million Industry Leading Hybrid Renewable Energy Project

A kite that might fly

Scotland outreach to Canada yields wind energy investment

TRADE WARS
China Saves the World, and America Too by Going Off-The-Grid

In Morocco, a blue tourist town is turning green

Mechanochemistry paves the way to higher quality perovskite photovoltaics

OMCO Solar expands to met demand for field-fast racking systems

TRADE WARS
AREVA NP introduces FORERUNNER robot to optimize steam generator inspections

France backtracks on nuclear power reduction target

Nuclear energy programs may not increase likelihood of proliferation

Bulgaria extends life of Soviet-era nuclear reactor

TRADE WARS
Sandia speeds transformation of biofuel waste into wealth

Study identifies additional hurdle to widespread planting of bioenergy crops

Penn researchers mimic giant clams to enhance the production of biofuel

Research aims to help renewable jet fuel take flight

TRADE WARS
An effective solution for collecting spilled petroleum

Oil price response to OPEC report on demand muted

Statoil makes headway with Barents Sea field development

Iraq targets 1 million bpd output for disputed Kirkuk oilfields

TRADE WARS
Developing world says rich nations shirking on climate

Cities can cut greenhouse gas emissions far beyond their urban borders

Syria to join Paris climate pact, isolating US

EU to cut car emissions to meet climate targets, rival China




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News






The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement