Latest news with #Group of Seven
Japan Times
13-08-2025
- Business
- Japan Times
South Korean President Lee to visit Japan for summit with Ishiba, Seoul says
South Korean President Lee Jae Myung will visit Japan between Aug. 23 and Aug. 24 and hold a summit with Prime Minister Shigeru Ishiba, Lee's office said at a briefing on Wednesday. The leaders will discuss ways to improve regional peace and boost trilateral cooperation with Washington, Kang Yu-jung, Lee's spokesperson, told reporters. Kang did not specify the date of the summit during Lee's two-day visit. Lee has in the past been critical of efforts by administrations in Seoul to improve ties with Tokyo, though when he met Ishiba for their first summit on the sidelines of a Group of Seven meeting in Canada in June they vowed to deepen the relationship. Ties between the U.S. allies have often been strained, rooted in historical disputes stemming from Japan's colonial rule over the Korean peninsula from 1910 to 1945. Their second summit meeting will also take place as the Asian economic powerhouses grapple with the implications of U.S. tariffs imposed by the administration of U.S. President Donald Trump. Lee's trip to Japan comes just ahead of his visit to the United States, where he is scheduled to hold a summit with Trump on Aug. 25.
Asharq Al-Awsat
11-07-2025
- Business
- Asharq Al-Awsat
UK Economy Shrinks 0.1% in May
Britain's economic output shrank by 0.1% in May, official data showed on Friday. Economists polled by Reuters had mostly forecast that gross domestic product would rise by 0.1% from April's level. Britain's economy expanded rapidly in the first quarter of 2025, outstripping growth in other countries in the Group of Seven advanced economies. In May the Bank of England revised up its full-year growth forecast to 1%. However, much of the growth in early 2025 was likely to have been linked to the expiry of a tax break for some home purchases in April which boosted the sector before the deadline, and a rush by manufacturers to beat higher US import tariffs. The BoE has said it thinks the economy grew by about 0.25% in the second quarter of 2025.
