Middle East crisis
South Korea's industrial output, retail sales and facility investment rise in March
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South Korea's industrial output, retail sales and facility investment all rose from a month earlier in March, official data showed on April 30. It marked the first time since September that all three indicators posted on-month growth. A ministry official said the Middle East crisis has not yet impacted the economy.
Premier Li Qiang convened a State Council study session on Monday, urging a 'bottom-line mentality' to secure energy supplies. The meeting, attended by Vice-Premier Ding Xuexiang and other deputies, focused on coordinating energy security and sector transformation. Li highlighted vigilance amid international upheavals and China's growing energy demand.
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The Overseas Workers Welfare Administration (OWWA) is requesting an additional P12 billion from the Department of Budget and Management to aid repatriation and reintegration of overseas Filipino workers affected by the Middle East crisis. OWWA Administrator Patricia Yvonne Caunan stated that 55 percent of the agency's allocation this year has already been used. As of Friday, 6,706 Filipinos have been repatriated.
Bank of Korea Deputy Governor Yoo Sang-dai stated that uncertainty over the US Federal Reserve's rate path has deepened following the latest FOMC decision to hold benchmark rates at 3.5-3.75% for a second consecutive meeting, amid persistent Middle East instability. The BOK will monitor risks closely and act if needed to stabilize markets.