ADB: Asian economy grows fast this year
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Ha Noi (VNA) - In its report &quot;Asian Development Outlook 2004&quot; released on Sept. 22, the Asian Development Bank (ADB) predicts that developing Asia is likely to sustain its economic growth rate at 7 percent
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Hong Kong&#39;s economy grew by 7.2 percent in the third quarter from the same period a year earlier, boosted by strong global demand and consumer spending, the government said Friday.
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Singapore's economy expanded 5.4 percent in the fourth quarter from a year ago and grew by 8.1 percent for the full year in 2004, the city-state's Ministry of Trade said Monday.
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China's economy accelerated to 9.5 percent growth in the year through the fourth quarter, exceeding forecasts and raising the risk of another interest rate increase to avoid overheating.
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A new report says that pressures on fuel supplies are growing, in part, because booming Asian economies are using more fuel to power their manufacturing industries.
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Asian shares rise sharply, with investors buoyed by a plan to stimulate the US economy.
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The gross domestic product (GDP) of Bangladesh is expected to rise by 4.8 percent in fiscal 2004-2005 against the Asian Development Bank&#39;s (ADB) earlier projection of six percent, said an ADB press release here on Wednesday.
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Asian economies are heading for robust economic growth in 2004, followed by a slight slowdown in 2005, the Asian Development Bank has said.
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The Asian Development Bank has raised its growth forecast for Philippine economy to between 4.7 percent and 5.7 percent both for 2004 and 2005, higher than the 4.5 percent to 5.5 percent growth projection it made in April.
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The Philippine economy registered a6.2 percent growth in the second quarter, higher than the 4.2 percent during the same period last year, National Statistical Coordinating Board
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Asian shares jumped to multi-month  highs on Monday on a rally in semiconductor-related issues,  including Japan's Advantest Corp., and European stocks were set  to rise after a rally in U.S. markets.
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The economy expanded faster than expected in the last quarter of 2006 and remains strong.
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Australia's economy grew faster than expected in the three months to June, fuelled by strong investment.
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Asian stocks rose, led by exporters including Toyota Motor Corp. and Samsung Electronics Co., after a US manufacturing report boosted optimism that growth in the world&#39;s largest economy may strengthen.
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The global economy is doing better than for years as red-hot Chinese growth combines with comebacks by Europe and Japan to offset a U.S. slowdown, the Organization for Economic Co-operation and Development said on Thursday.
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The expansion unexpectedly accelerated last month to the highest level in more than a year, a sign the economy is strengthening.
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China&#39;s economy grew so rapidly in the first half of 2007 that it is likely to overtake Germany as the world&#39;s third-largest by the end of this year, analysts say.