South Korean manufacturing output drops amid debt crisis

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/

According to Statistics Korea, South Korea's factory output dropped 0.7% in October compared to previous month. European debt turmoil is shrinking demand for goods from highly export-dependent Asian economies. Samsung Electronics Co. and LG Electronics Inc. have already reported declines in their profit as Europe struggles with surging borrowing costs. 

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Wed, 30 Nov 2011 10:58:52 GMT

European FMs call for expanding IMF role

Euro zone officials announced they would like IMF to expand its role in tackling Europe sovereign debt crisis as the EFSF leverage still does not meet the target. Finance ministers agreed during their meeting to attempt to increase the IMF resources and to allow it join forces with EFSF. Dutch FM, Jan Kees de Jager, told IMF capital reserves should be increased to provide lending

Wed, 30 Nov 2011 10:53:34 GMT

Thailand reduces borrowing costs to stimulate recovery

The Bank of Thailand lowered borrowing rates for the first time since 2009. Thailand's national bank has cut its overnight rate by 0.25 percentage points to 3.25%. Central bank expects Thailand's economy will grow at 1.8% rate next year or 0.8% less than was predicted earlier. Nalin Chutchotitham, Kasikornbank Pcl's economist forecasts further cut of 0.5% percentage points in forthcoming two months.  

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