Business

Asian markets build on gains after Wall St record

HONG KONG, China (AFP) — Asian markets enjoyed more gains on Friday, putting them on course to end the week with a flourish as investors looked past the China-US trade row to focus on the booming American economy. The upbeat mood on trading floors was being felt across the board, with embattled emerging market currencies seeing a recovery, while some observers suggested a fear of missing out was also providing some lift. Regional dealers were […]

Japan inflation edges up but way below target in August

TOKYO, Japan (AFP) — Prices in Japan edged up modestly in August, according to government data on Friday, as the world’s third-largest economy continues its years-long battle with deflation. Inflation stood at 0.9 percent year-on-year in August, still far below the Bank of Japan’s two-percent target, even though slightly higher than 0.8 percent in July and June and 0.7 percent in May. The latest figure was in line with market consensus. With fresh food and […]

Tokyo stocks close flat after PM Abe’s win

TOKYO, Japan (AFP) — Tokyo stocks closed flat on Thursday, with traders taking Prime Minister Shinzo Abe’s widely expected victory in the party leadership election in their stride. The Nikkei 225 index closed up just 0.01 percent or 2.41 points at 23,674.93, while the broader Topix index ended up 0.11 percent or 1.94 points at 1,787.60. The Nikkei index slipped briefly into negative territory after Abe’s comfortable victory was announced because there were “no fresh […]

Amazon considering opening 3,000 cashierless stores: Bloomberg

WASHINGTON, United States (AFP) — Amazon is considering opening up to 3,000 new cashier-less stores by 2021 to vie for shoppers at convenience stores and quick-service sandwich shops, Bloomberg News reported Wednesday. CEO Jeff Bezos is trying to decide on the best format for this bold and expensive venture, Bloomberg said, quoting people familiar with the matter. The new AmazonGo outlets could be convenience stores offering fresh prepared foods and some groceries, like 7-Eleven, or […]

Santos Frank Knight

Philippines: Still the most attractive IT-BPO investment destination – Santos Knight Frank

Caesar Vallejos, Eagle News Service Amid a high inflation rate and a weakening peso, the Philippines remains to be the most attractive inbound investment destination in the region for Information Technology-Business Process Outsourcing (IT-BPO) companies. According to Santos Knight Frank, the world’s largest independently owned property consultancy, the investors are “eager to capitalize on the country’s sound macroeconomic fundamentals, excellent pool of low cost-skilled labor, outstanding customer service, continuous infrastructure development and one of the […]

$60 million in virtual currency hacked in Japan

TOKYO, Japan (AFP) — Digital currency worth around 6.7 billion yen ($60 million) has been stolen in Japan following a hacking attack, a virtual exchange operator said on Thursday. Osaka-based Tech Bureau, which operates virtual currency exchange Zaif, said its server had been illegally accessed and money transfered. “We decline to comment on the details of how this illegal access occurred, as it is a crime and we’ve already asked the authorities to investigate,” Tech […]

New Zealand economy picks up amid agricultural growth

WELLINGTON, New Zealand (AFP) — New Zealand’s economic growth hit a two-year-high in the second quarter on the back of a strong performance from the agricultural sector, official data showed Thursday. Statistics New Zealand said the economy expanded 1.0 percent in the three months to June 30, the biggest quarterly rise since mid-2016. The agriculture, fisheries and forestry sector was the standout performer, up 4.1 percent, with mining the only industry among the 16 measured […]

Alibaba’s Ma says 1 million US jobs pledge thwarted by trade row

HONG KONG, China (AFP) — Alibaba founder Jack Ma said his ambitious pledge to create one million jobs in the US had been scuppered by the trade row between Beijing and Washington, Chinese state news reported Thursday. The billionaire owner of China’s largest online shopping portal made the headline-grabbing promise to Donald Trump last year, as Beijing courted the then-newly elected president. But Ma told Xinhua that his pledge had been made on the basis […]

Markets mostly rise between trade war salvos

NEW YORK, United States (AFP) — Global stocks mostly pushed higher on Wednesday as investors looked past the latest tit-for-tat tariffs by China and the United States. US President Donald Trump said he will impose 10 percent levies starting next week on another $200 billion of imports from China, prompting Beijing to target $60 billion of US goods with five to 10 percent taxes. Beijing rejected Trump’s claim that it was tailoring retaliatory tariffs goods […]

Amid reported data breach, ABS-CBN shuts down two online stores

(Eagle News) — ABS-CBN temporarily shut down two of its online stores amid a reported data breach that may have allegedly exposed the information of over 200 customers. “As of this time, there are 213 customers who may have been affected,” ABS-CBN said in its statement in explaining why it closed down its ABS-CBN store (store.abs-cbn.com) and UAAP Store (uaapstore.com) at 9:30 a.m. The supposed data breach was reported by  Willem de Groot, a consultant based in […]

Asian markets ride positive wave on hopes for trade resolution

HONG KONG, China (AFP) — Asian markets rose Wednesday as tit-for-tat tariffs by China and the United States were considered lighter than feared, while there are hopes the two sides can eventually hammer out a deal to avert an all-out trade war. Donald Trump on Monday said he would press ahead with 10 percent levies on another $200 billion of imports, sparking a response from Beijing to target $60 billion of US goods with five […]

Japan trade surplus with US shrinks for second month

TOKYO, Japan (AFP) — Japan’s sensitive trade surplus with the United States shrank sharply for the second consecutive month, according to official data published Wednesday, as Tokyo nervously eyes Washington’s trade war with China. The surplus came in at 455.8 billion yen ($4.05 billion) in August, as the rise in US aerospace, natural gas and coal imports outpaced Tokyo’s exports of pharmaceutical and construction products. US President Donald Trump has reportedly cited Japan as his […]