Business

Tesla’s ‘mass market’ $35k electric car ready to order, online

by Glenn CHAPMAN Agence France Presse SAN FRANCISCO, United States (AFP) — Tesla said Thursday its Model 3 — heralded as an electric car for the masses — is available for order online only, at a price of $35,000 with delivery promised within a month. The announcement fulfills a vision of Tesla founder and chief Elon Musk, who has touted a more affordable electric car as part of his vision of weaning drivers from gasoline-powered […]

US music industry streams double-digit revenue growth

NEW YORK, United States (AFP) — The US music industry posted its third straight year of double-digit growth in 2018 thanks to continued surges in streaming, an industry tracker said Thursday. Revenues from recorded music jumped 12 percent to $9.8 billion in estimated retail value, according to the Recording Industry Association of America, with 75 percent of revenues coming from streaming. The RIAA said paid subscriptions of streaming services like Spotify and Tidal soared to […]

Global stocks pressured by Kim-Trump summit failure

NEW YORK, United States (AFP) — World stock markets came under pressure Thursday as a summit between Donald Trump and Kim Jong Un ended abruptly without an agreement. Asian equities had been fluctuating throughout the day on tempered optimism over China-US trade talks, weak factory data from Beijing and fresh geopolitical tensions in Kashmir. But they took a decisive turn south after an expected lunch and signing ceremony between the United States and North Korean […]

Asian markets down as Kim-Trump summit ends abruptly

HONG KONG, China (AFP) — Asian markets mostly fell Thursday, led by Seoul, as a summit between Donald Trump and Kim Jong Un ended abruptly without an agreement. Equities had been fluctuating through the day on tempered optimism over China-US trade talks, weak factory data from Beijing and fresh geopolitical tensions in Kashmir. But they took a decisive turn south after an expected lunch and signing ceremony between the US and North Korean leaders was […]

Global stocks mostly fall amid trade, geopolitical concerns

NEW YORK, United States (AFP) — Global stocks mostly fell Wednesday amid uncertainty over trade and an escalating Indian-Pakistan conflict as the British pound rallied for a second session. An Asian market rally ran out of steam after Pakistan said it had shot down two Indian jets in its airspace in Kashmir, fueling concerns of conflict between the nuclear-armed rivals. While both sides have sought to play down the threat of war, the rare aerial […]

Much to be done on China trade: US Trade Rep Lighthizer

Washington’s chief trade negotiator on Wednesday said there remained much to do before reaching a new trade agreement with China despite “real progress” so far. After months of negotiating with Beijing, “now we are making real progress,” US Trade Representative Robert Lighthizer said in congressional testimony. However, “Much still needs to be done both before an agreement is reached, and more importantly after it is reached if one is reached.” Citing progress toward a new […]

Asian markets up on lingering trade hopes, sterling holds gains

HONG KONG, United States (AFP) — Asian markets were mostly up Wednesday with investors remaining positive about the prospects for a China-US trade deal while the pound held its gains as fears of a no-deal Brexit recede. Wall Street provided a tepid lead as Federal Reserve boss Jerome Powell gave little away to lawmakers on the central bank’s plans for monetary policy. With few catalysts to drive business, dealers are awaiting the latest developments in […]

Tokyo stocks open higher on bargain-hunting

TOKYO, Japan (AFP) — Tokyo stocks opened higher on Wednesday in cautious trade as investors hunted for bargains with a lack of fresh events to support the market after slides in US shares. The benchmark Nikkei 225 index edged up 0.23 percent, or 49.79 points, to 21,499.18 in early trade, while the broader Topix index was up 0.15 percent, or 2.41 points, at 1,619.61. “As the Japanese market fell yesterday ahead of the slides in […]

British pound rallies as ‘hard’ Brexit risk seen receding

NEW YORK, United States (AFP) — The British pound rallied Tuesday as the odds of a “hard” no-deal Brexit receded, while US stocks edged lower following dovish commentary from Federal Reserve Chair Jerome Powell. British Prime Minister Theresa May promised to allow parliament to delay Brexit by up to three months if her own divorce proposals fail to win the support of lawmakers by March 12. The dramatic reversal in May’s steadfast strategy came after […]

Tokyo stocks end lower after recent gains

TOKYO, Japan (AFP) — Tokyo stocks closed lower on Tuesday following recent gains fueled by optimism over the China-US trade talks, while analysts also said news of Indian air strikes in Pakistan-controlled Kashmir weighed on the market. The benchmark Nikkei 225 index, slipped 0.37 percent, or 78.84 points, to 21,449.39 while the broader Topix index was down 0.23 percent, or 3.67 points, at 1,617.20. Shares have enjoyed healthy buying of late, thanks to hopes that […]

Asian markets down after trade-fuelled surge, sterling gains

HONG KONG, China (AFP) — Asian markets fell Tuesday as investors struggled to maintain momentum from the previous day’s trade talks-fuelled surge, while the pound extended gains following reports of a possible Brexit delay. Donald Trump’s decision to waive this week’s deadline for China-US negotiations and his upbeat tone on their progress lit a fire under regional equities Monday on hopes the long-running dispute could be nearing its end. However, while dealers are hopeful the […]

EODB Co-Chair sets blueprint of genuine tax reform at the Asia CEO Forum

Caesar Vallejos OPEN FOR BUSINESS, Eagle News Service The newly appointed Co-Chair of Ease of Doing Business in Paying Taxes, Mon Abrea, the Founding President of the Center for Strategic Reforms of the Philippines, said that “administrative reform should supplement or support any policy reform.” In his talk at the Asia CEO Forum last February 22, 2019 at the Marriott Hotel, Abrea said, “dito kami madalas nag-co-conflict with DOF, we really have ideas on policy […]