Prime Minister Kim Min-seok pledged significant financial aid on Monday to boost corporate investment in non-metropolitan areas, aiming to foster economic growth engines for balanced national development.
The World Bank is reportedly receiving requests for urgent financial support from countries like Kenya and Iraq, grappling with the fallout of global conflicts, including surging fuel prices and reduced oil revenues. The specific countries and total funds sought remain undisclosed.
The announcement of the Korea Land and Housing Corporation (LH) reform plan, aimed at overhauling public housing supply, has been postponed to the first half of the year. The government is struggling with key issues like organizational separation and financial support for LH's deficits.
Wong Hong, director general of the Association of Asia Pacific Airlines, stated that carriers require diverse aid, from financial support to flexible schedule cuts. He expressed concern over airlines facing difficulties, citing Spirit's recent shutdown due to fuel prices, and noted that Hong Kong airlines and Air New Zealand have received no support despite forecasting losses.
The federal government's ongoing financial support for the Whyalla steelworks remains a "fiscal risk" to the budget. Meanwhile, the South Australian government continues to hold out for more Commonwealth funding for a major road project.
Peter Malinauskas compares spending $45 million to redevelop the North Adelaide golf course to similar funding for the AFL to play in the Barossa Valley, as media reports suggest Saudi Arabia's Public Investment Fund is preparing to pull financial support for LIV Golf.
The EU approved a €90 billion loan for Ukraine and a 20th round of sanctions against Russia, ending a standoff that had blocked support for Kyiv. The loan will cover Ukraine's 2026-2027 financial needs with two-thirds for defence and the rest for budgetary support. Hungary and Slovakia dropped objections after oil flows resumed through the Druzhba pipeline. The sanctions target Russia's energy, banking and trade sectors and expand restrictions on Russia's shadow fleet.
