Economy of Asia

Asian economies are not doing as well as they could and growth in the region is forecast to slow to 4.5 percent this year from 5.1 percent in 2023, the World Bank said in a report released on April 1. 

New Zealand and Australia have ratified the multilateral trade agreement, considered the largest in the world, said today the Minister of State for Trade and Export Growing of Wellington Phil Twiford.

The town of Soufli, near Greece's border with Turkey in the region of Evros, was one of Greece's major silk-producing centres up until the early 20th century. Today it is home to the Silk Museum, where you can find out about the history of the pre-industrial procedure of silk farming and processing.

The official reserves of the Turkish Central Bank totaled $86.2 billion as of the end of October, the bank reported on Nov. 28.

Construction has begun on the Afghanistan stretch of an ambitious pipeline that is to carry natural gas from Turkmenistan to Afghanistan, Pakistan and India.

Japanese multinational electronics and electrical equipment manufacturer Mitsubishi Electric Corporation on Feb. 8 inaugurated a new room air-conditioner production facility in Turkey’s western province of Manisa, state-run Anadolu Agency reported.

Israel's Energy Ministry on Monday granted preliminary approval to bids from Greek and Indian energy companies to explore for oil and gas in the Eastern Mediterranean.

Israel's Energy Ministry on Monday gave preliminary approval to bids from Greek and Indian energy companies to explore for oil and gas in the eastern Mediterranean.

Israel had received bids from Greece's Energean and a consortium of Indian firms including ONGC Videsh, Bharat PetroResources, Indian Oil Corp and Oil India.

Greek energy firm Energean said on Tuesday it signed three new deals to sell natural gas from the Karish and Tanin offshore fields to Israeli companies.

The deals were signed with Dorad Energy Ltd and two subsidiaries of the Edeltech Group, Ashdod Energy and Ramat Negev Energy.

The EBRD and the International Finance Corporation (IFC) are providing a EUR 215 million loan to Cibuk 1 wind farm, the bank has announced.

This is the largest wind project in Serbia and the Western Balkans to date, and the investment underscores EBRD's commitment to investing in renewable energy, a statement said.