Xinhua’s Global Economic News Summary 09:00 GMT, Sept. 28


WASHINGTON – The recovery of the East Asia and Pacific region has been compromised by the spread of the delta variant of COVID-19, the World Bank said on Monday, calling for a comprehensive strategy to contain COVID -19 and stimulate inclusive growth.

Economic activity started to slow in the second quarter of 2021, and growth forecasts have been revised down for most countries in the region, according to the new economic update for East Asia and the United States. Pacific Fall 2021 from the World Bank. (World Bank-East Asia-Economy)

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KUALA LUMPUR – Malaysia’s exports increased 18.4% to 95.59 billion ringgits (US $ 22.85 billion) in August from the previous year, as exports to all major markets, namely ASEAN, China, the United States, the European Union (EU) and Japan recorded positive growth, official data showed on Tuesday.

The growth in exports was mainly driven by strong foreign demand for petroleum products, electrical and electronic products, mainly due to increased shipments of semiconductors as well as chemicals and chemicals, the Malaysian ministry said. International Trade and Industry in a statement. (Malaysia-Exports)

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SEOUL – South Korean consumer sentiment on the economic situation has improved this month despite the continued resurgence of COVID-19, central bank data showed on Tuesday.

The Composite Consumer Sentiment Index (CCSI) stood at 103.8 in September, up 1.3 points from the previous month, according to the Bank of Korea (BOK). (South Korea-Consumer sentiment)

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STOCKHOLM – Swedish premium electric vehicle (EV) company Polestar said on Monday it would go public by merging with Gores Guggenheim Inc. for an enterprise value of US $ 20 billion.

According to a press release from Polestar, the company has entered into a definitive business combination agreement with Gores Guggenheim Inc., a special purpose acquisition company. (Sweden-Polestar-Fusion)


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Previous Xinhua's Global Economic News Summary at 10:30 a.m. GMT, Sept. 24
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