HONG KONG -- Hong Kong continues to be one of the most competitive economies in the world, ranking seventh globally, according to the World Competitiveness Yearbook (WCY) 2023 published by the Switzerland-based International Institute for Management Development (IMD).
Among the four competitiveness factors in WCY 2023, Hong Kong continues to rank second globally in terms of government efficiency, and its ranking in infrastructure also improved.
Hong Kong continues to top the ranking in business legislation, and is among the top five in tax policy, international investment, international trade, and technological infrastructure, according to the report. (Hong Kong-Economy-World Competitiveness Yearbook)
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KUALA LUMPUR -- Malaysia's exports contracted 0.7 percent year-on-year to 119.61 billion ringgit (25.79 billion U.S. dollars) in May, in tandem with slower global demand and lower commodity prices, official data showed Tuesday.
The Ministry of Investment, Trade and Industry (MITI) said in a statement that the country's total trade slipped by 2 percent to 223.8 billion ringgit, while its imports decreased by 3.3 percent to 104.19 billion ringgit.
Despite the decline, MITI said the exports to major trading partners notably China, the United States and Japan recorded expansion. (Malaysia-Exports-May)
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MANILA -- The Philippines' overall balance of payments (BOP) posted a deficit of 439 million U.S. dollars in May, sharply lower than the 1.6-billion-dollar BOP deficit recorded a year ago, according to the Philippine central bank data released Monday night.
The Bangko Sentral ng Pilipinas (BSP) said the BOP deficit in May this year reflected outflows arising mainly from the national government's net foreign currency withdrawals from its deposits with the BSP to settle its foreign currency debt obligations.
Notwithstanding the deficit in May, the Southeast Asian country's cumulative BOP position registered a 2.9-billion-dollar surplus in the first five months of the year, the BSP added. (Philippines-BOP-Deficit)
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TOKYO -- Japan's agriculture ministry has announced that the country is free of avian flu after about 17.7 million birds were culled across Japan, local media reported Tuesday.
The World Organization for Animal Health posted Japan's bird-flu-free declaration on its website on Monday, based on material submitted by the Ministry of Agriculture, Forestry and Fisheries, public broadcaster NHK reported.
The agriculture ministry said that avian influenza has not been detected since an outbreak started at a poultry farm in Chitose City, Hokkaido, on April 7, confirming that the virus has been eradicated from poultry farms and elsewhere in the country, said the report. (Japan-Bird Flu) ■
