Business

Wall Street crumbles again as stocks erode in fear

NEW YORK, United States (AFP) — Wall Street crumbled again on Monday while other global stocks mostly fell as a wave of bad feeling about economic growth swept over investors. US President Donald Trump lambasted the Federal Reserve again, calling on the central bank not to raise interest rates a day before policymakers are due to meet. Markets widely expect the Fed to ignore the political pressure and announce its fourth rate hike of 2018. […]

Asian markets tumble with Wall St on global outlook fears

HONG KONG, China (AFP) —  Asian markets mostly fell Tuesday following a sharp retreat on Wall Street fueled by increasing worries about the global economy, while investors await the Federal Reserve policy meeting this week. A much-anticipated speech by President Xi Jinping left investors crestfallen as they had been hoping for comments about stimulus or even clues about possible reforms to China’s economy and plans for the next year. After a broadly upbeat start to […]

Asian markets sink with Wall St on global outlook fears

HONG KONG, China (AFP) — Asian markets mostly fell Tuesday following a sharp retreat on Wall Street fuelled by increasing worries about the global economy, while investors await the Federal Reserve policy meeting this week. A speech by President Xi Jinping later in the day is also on the radar, with hopes for some clues about possible reforms to China’s economy and plans for the next year. After a broadly upbeat start to the week, […]

China marks 40-year economic rise as clouds gather

by Laurent THOMET Agence France Presse BEIJING, China (AFP) — China celebrates Tuesday the 40th anniversary of its transformative “reform and opening up” policy, which turned the world’s most populous country into an economic juggernaut that now faces slowing growth and a stern US challenge. The brainchild of late paramount leader Deng Xiaoping, the programme was ratified at a Communist Party conclave on December 18, 1978, breaking with the chaotic policies of his predecessor, Chairman […]

Open for Business tackles top digital transformation trends in 2019

“Digital transformation is not about technology, but it’s about building capabilities and competencies in a strategic way.” In the 27th episode of Eagle Broadcasting Corporation’s online business show “Open for Business,” Reynaldo Lugtu, President and CEO of Hungry Workhorse emphasized that ‘digital transformation is not only a concept, it is a reality but it is also a journey that you take as an owner of a company or a startup.’ Lugtu, one of the country’s most […]

Tokyo stocks close lower on profit-taking

TOKYO, Japan (AFP) — Tokyo stocks closed lower on Friday after two days of rallies as investors locked in profits while awaiting fresh global data for clues on growth in major economies. The benchmark Nikkei 225 index dropped 2.02 percent, or 441.36 points, to end at 21,374.83, while the broader Topix index lost 1.51 percent, or 24.49 points, to 1,592.16. “Trade lacks a sense of direction following mixed US stocks indexes and ahead of fresh […]

Qatar to run budget surplus in 2019

DOHA, Qatar (AFP) — Qatar, the world’s largest exporter of liquified natural gas, will run its first budget surplus in three years in 2019 due to higher energy prices, a government statement said Thursday. The surplus will reach 4.3 billion Qatari riyals ($1.2bn, 1 billion euros) because of an expected sustained rise in prices. The statement also said Qatar would delay plans to introduce a value-added tax (VAT), initially anticipated for this year. But it […]

Asian markets sink as profit-takers move in, pound resilient

HONG KONG, China (AFP) — Asian markets fell on Friday, putting the region on course to end a broadly positive week on a sour note, as traders took a step back and their profits off the table. There was also some unease after the head of the European Central Bank raised concerns about the growth outlook for the eurozone owing to issues within and outside the bloc. The pound showed some resilience, even as European […]

Filipino techpreneurial spirit ablaze in VIA Startup Summit

by Emily Manuel Contributor, Eagle News MANILA — Key experts and industry leaders gathered at the VIA Startup Summit held at the Green Sun Hotel, Makati City, last 28 November 2018 to recognize the valuable contribution of startups to the local economy and discuss ways to foster their development. Among them were Director Senen Perlada from the Export Marketing Bureau of Department of Trade and Industry (DTI), Dentsu Aegis Network Philippines’ Country CEO, Donald Lim, […]

Japan business confidence unchanged in December quarter: BoJ

TOKYO, Japan (AFP) — Confidence among Japan’s biggest manufacturers was unchanged this quarter after slipping for three consecutive surveys, central bank data showed on Friday. The Bank of Japan’s Tankan report — a quarterly survey of about 10,000 companies — showed a reading of 19 among major manufacturers in its December survey. The reading was unchanged from the previous quarter when corporate confidence was down for the third time in a row. Economists say the […]

Apple to build $1 billion campus in Texas

WASHINGTON, United States (AFP) — Apple announced Thursday it will build a $1 billion campus in Texas as part of a nationwide expansion. The facility will be less than a mile from the tech giant’s existing facility in Austin and initially accommodate 5,000 additional employees, with room to grow to 15,000. As it stands, 6,200 people now work for Apple in the Texan capital — the largest cluster outside its headquarters in Cupertino, California. Employees […]

Asian markets build on trade optimism, pound faces pressure

HONG KONG, China (AFP) — Asian markets enjoyed more gains Thursday as investors are cheered by the more conciliatory noises from China and the US on trade, while uncertainty over Brexit continued to pressure the pound. While the tariffs row between Beijing and Washington is far from being resolved, there is a lot more optimism on trading floors this week that the world’s top two economies can make headway in talks over the next three […]