Fri, 23 Apr 2021

HOUSTON -- The American Petroleum Institute (API) on Tuesday reported an increase of 1.026 million barrels of crude oil in the U.S. crude oil inventories for the week ending Feb. 19.

API reported a decrease of 5.8 million barrels of crude oil inventories for the previous week ending Feb. 12, while the U.S. Energy Information Administration reported a fall of 7.3 million barrels. (US-Oil-Inventories)

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HONG KONG -- The government of China's Hong Kong Special Administrative Region (HKSAR) is expected to see a deficit of 101.6 billion Hong Kong dollars (about 13 billion U.S. dollars) for the 2021-22 financial year, the third straight year with a budget deficit.

When unveiling the annual budget in the Legislative Council, Paul Chan, financial secretary of the HKSAR government, said the deficit, equivalent to 3.6 percent of the local gross domestic product (GDP), comes as the government has boosted expenditures for the handling of the COVID-19 pandemic and economic reliefs. (Hong Kong-Deficit)

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SEOUL -- South Korea's export volume kept growing for the fifth month in January due to solid demand for tech products and automobiles, central bank data showed on Wednesday.

The export volume index came in at 114.20 last month, up 8.0 percent from a year earlier, according to the Bank of Korea (BOK). (South Korea-Export)

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HONG KONG -- Hong Kong will roll out counter-cyclical measures worth over 120 billion Hong Kong dollars (15.48 billion U.S. dollars) this year to prop up its economy reeling from the COVID-19 pandemic, a senior HKSAR official said when delivering the annual budget on Wednesday.

Speaking in front of members of the Legislative Council, Paul Chan, financial secretary of the Hong Kong Special Administrative Region (HKSAR) government, said this year's budget focuses on stabilizing the economy and relieving people's burden, and seeks to create a leverage effect to benefit individuals and enterprises. (Hong Kong-Budget)

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