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HomeLatestXinhua Asia-Pacific news summary at 1600 GMT, April 5

Xinhua Asia-Pacific news summary at 1600 GMT, April 5


ISLAMABAD — The Asian Development Bank (ADB) here on Tuesday urged Pakistan to resume robust macroeconomic and structural reforms along with stability to bring economic reforms in the country, said a report.

Highlighting the challenges to Pakistan, the ADB said that the country has a history of resilience and bouncing back, and “the ADB is committed to continuing to support Pakistan’s economic recovery and development plans.” (Pakistan-ADB-Reforms)

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SEOUL — One woman was confirmed dead and another man injured as the railing walkway of a bridge collapsed in the Gyeonggi province of South Korea, Yonhap news agency reported on Wednesday.

The bridge walkway, which crosses a small stream in Seongnam city, just south of the capital Seoul, caved in at around 9:45 a.m. local time (0045 GMT). (South Korea-Bridge Collapse)

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COLOMBO — Sri Lankan economy is projected to contract by 4.3 percent in 2023 as demand continues to be subdued, job and income losses intensify, and supply-side constraints adversely affect production, the World Bank announced on Tuesday.

Sri Lanka’s heightened fiscal, external, and financial imbalances and its fluid political situation pose significant uncertainty for the country’s economic outlook. (Sri Lanka-Economy)

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TOKYO — Prices of gold in Japan leaped to a new high on Wednesday as investors have been switching out of riskier assets like stocks and into perceived safe havens like gold amid concerns over a U.S. economic slowdown.

On the Osaka Exchange late on Tuesday, benchmark gold futures temporarily hit 8,554 yen (65.16 U.S. dollars) per gram, and topped the 8,500 yen mark (64.76 dollars) per gram on Wednesday, dealers here said. (Japan-Prices-Gold)

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SUVA — The Fijian government reaffirms on Wednesday its opposition to Japan’s plan to discharge nuclear-contaminated wastewater into the Pacific Ocean, saying that the region is not a dumping ground for countries like Japan to release its nuclear waste.

While moving a motion regarding this in parliament on Wednesday, Fiji’s Deputy Prime Minister Manoa Kamikamica said that the Pacific Ocean should not be seen as an easy and convenient dumping ground for unwanted and dangerous materials and waste that other larger nations produce and do not want to use in their own ecosystem, according to local media. (Fiji-Japan-wastewater)