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(Eagle News) – The country’s inflation for June decelerated to 2.7 percent, becoming the lowest recorded since September 2017. This was according to the Philippine Statistics Authority which noted that the inflation last May was higher at 3.2 percent. If the inflation rate will be compared to June last year, the June 2018 inflation is much higher, or almost double, at 5. 2 percent. “The slowdown of inflation in June 2019 was mainly driven […]
HONG KONG, China (AFP) — Oil prices fell sharply on Tuesday even as leading crude exporters extended a supply agreement, while global equities mostly nudged higher in the aftermath of the weekend’s US-China trade detente. Benchmark crude prices tumbled more than four percent following the latest agreement among oil producers, confirmed at a meeting of the Organization of the Petroleum Exporting Countries in Vienna and supported by Russia and other exporters. Analysts still see the […]
by Roland JACKSON / Jastinder KHERA VIENNA, Austria (AFP) — OPEC agreed Monday to extend by nine months daily oil output cuts aimed at supporting prices and soaking up excess supplies, following last weekend’s G20 pact between cartel kingpin Saudi Arabia and non-member Russia. “We are very happy to announce that we have reached an agreement to extend for nine months the current production level,” said OPEC president and Venezuelan Oil Minister Manuel Quevedo at […]
HONG KONG, China (AFP) — Asian markets surged Monday after Donald Trump and Xi Jinping agreed to restart trade talks, reviving hopes of an end to their tariffs war, while oil prices also rallied on news that Saudi Arabia and Russia will extend their output caps. Trump’s historic visit to North Korea, where he met leader Kim Jong Un, soothed geopolitical concerns and added to the upbeat mood on trading floors. After a highly anticipated […]
TOKYO, Japan (AFP) — Japan announced Monday it would tighten regulations on the export to South Korea of several chemicals used in chip and smartphone production amid a row with Seoul on wartime forced labour. The new rules, which take effect from July 4, come after South Korean courts ordered Japanese firms to compensate people forced into wartime labour, an issue Tokyo says was resolved when the countries resumed diplomatic relations decades ago. “The export […]
OSAKA, Japan (AFP) — Russia and Saudi Arabia have agreed to extend a deal to keep oil production low owing to abundant world supplies, President Vladimir Putin said on Saturday. “We will extend this deal, Russia and Saudi Arabia. For how long? We will think about that. For six or nine months. It is possible that it could be up to nine months,” Putin told reporters after a G20 summit in Osaka. The OPEC […]
OSAKA, Japan (AFP) — US President Donald Trump said on Saturday that US companies could sell equipment to Chinese telecom giant Huawei, indicating a potentially softer position on a key sticking point in the US-China trade war. “US companies can sell their equipment to Huawei,” Trump told reporters in Osaka hours after sealing a tariff truce with Chinese President Xi Jinping. “We’re talking about equipment where there’s no great national security problem with it.” […]
HONG KONG, China (AFP) — Asian markets fell on Friday as investors keep a nervous watch on developments in the G20 summit, with trade top of the agenda and a key focus on the much-anticipated meeting between Donald Trump and Xi Jinping. Equities have enjoyed a largely positive couple of weeks on hopes for progress in the head-to-head between the leaders of the world’s top two economies, though the possibility of failure continues to make […]
by Roland JACKSON LONDON, United States (AFP ) — OPEC is on red alert over escalating US-Iran tensions that fuelled strong oil-price gains — but the cartel and other crude-producing nations are unlikely to end output cuts at a meeting Tuesday. The Organization of the Petroleum Exporting Countries, a cartel of 14 countries pumping one third of the world’s oil, is acutely aware that a faltering global economy is sapping growth in crude demand, helping […]
HONG KONG, China (AFP) — Asian markets rose Thursday as investors brushed off Donald Trump’s latest dig at China and threat to impose more tariffs on the country’s goods if crunch talks with Xi Jingping fail this weekend. Before setting off for the G20 summit in Japan the president said in an interview that he had a “Plan B” in case the face-to-face shows no progress, adding he would “take in billions and billions of […]
by Jitendra JOSHI Agence France Presse LONDON, United Kingdom (AFP) — Heading in to the G20 summit, Facebook is on notice from powerful regulators including the Fed chief that its ambitious plans for a global crypto-currency face piercing scrutiny. The Libra coin is endorsed by a heavyweight consortium of companies, and could see Facebook leverage its two billion-plus users to bring crypto-money out of the shadows and into the mainstream. But Federal Reserve chairman […]
HONG KONG, China (AFP) — Oil prices extended gains Monday as rising US-Iran tensions fuelled supply concerns, while Asian equity traders moved cautiously ahead of a crunch meeting between Donald Trump and Xi Jinping this week. Both main crude contracts are up almost 10 percent since Tehran last week shot down a US “spy drone” for breaching its airspace, ratcheting up fears of a conflict between the old foes. At the weekend Trump said he […]
