Business

Tokyo stocks close higher on relief at US Fed report

TOKYO, Japan (AFP) — Tokyo stocks closed higher on Friday on a report that the US Federal Reserve could soon pause interest rate hikes, news that also boosted US markets. The benchmark Nikkei 225 index ended up 0.82 percent, or 177.06 points, at 21,678.68. Over the week, the index lost 3.01 percent. The broader Topix index gained 0.61 percent, or 9.85 points, to close at 1,620.45. Over the week, the index fell 2.82 percent. “Japanese […]

Asian markets tentatively higher at end of volatile week

HONG KONG, China (AFP) — Asian investors battled to finish a volatile week with some stability Friday as they weigh the outlook for China-US trade talks and uncertainty in oil markets while looking ahead to the release of key US jobs data. After the furious selling of the past two days, there was some optimism after a report said the Federal Reserve could slow down its pace of interest rate hikes next year, providing some […]

Japan to ban government use of Huawei, ZTE products: reports

Japan is to ban government use of telecoms products made by Chinese tech giants Huawei and ZTE on concerns about cybersecurity, reports said Friday. The government plans to revise internal procurement rules to exclude products made by Huawei and ZTE as early as on Monday, the mass circulation Yomiuri Shimbun. Jiji Press agency also reported the expected move. The ban comes after a US request to allies to avoid products made by the two companies […]

China furious at Huawei executive’s arrest in Canada

  by Eva Xiao with Jacques Lemieux in Ottawa Agence France Presse BEIJING, China (AFP) — China reacted furiously Thursday after a top executive and daughter of the founder of Chinese telecom giant Huawei was arrested in Canada following a US extradition request, threatening to rattle a trade war truce with the United States. The detention of Meng Wanzhou, Huawei’s chief financial officer, comes after American authorities reportedly launched an investigation into suspected Iran sanctions […]

OPEC eyes output cuts to prop up plunging oil prices, defying Trump calls for boost

  by Joseph Sotinel and Simon Morgan Agence France Presse VIENNA, Austria (AFP) — OPEC members and other oil-producing countries mulled cuts in output Thursday to prop up plunging prices, defying repeated calls by US President Donald Trump that they keep the taps open. “We’re looking for a sufficient cut to balance the market, equally distributed between countries,” Saudi oil minister Khalid al-Falih told reporters ahead of an OPEC meeting in the Austrian capital. Oil […]

Trump asks OPEC not to cut production to keep global oil prices low

  WASHINGTON, United States (AFP) — US President Donald Trump on Wednesday urged OPEC members not to slash production at their upcoming meeting, saying global oil prices should remain low. Trump’s comment came as members of the Organization of Petroleum Exporting Countries and other oil-producing nations prepared to meet Thursday and Friday in Vienna to discuss lowering their output. “Hopefully OPEC will be keeping oil flows as is, not restricted. The World does not want […]

Nissan hit by new inspection scandal after Ghosn arrest: report

TOKYO, Japan (AFP) — Nissan plans to conduct another recall owing to “improper” tests on new vehicles, a newspaper said Thursday, dealing a fresh blow to the Japanese car giant following the shock arrest of former chairman Carlos Ghosn. The latest issue was uncovered after transport ministry officials conducted on-site inspections at Nissan’s major assembly plants, the Nikkei business daily said. Several employees admitted they carried out “improper” tests on brake and other systems before […]

Asian markets tumble, China tech hit after Huawei arrest

HONG KONG, China (AFP) — Shares across Asia plunged Thursday, with technology firms in Hong Kong and Shanghai battered after the arrest of a top executive at Chinese telecoms giant Huawei that has also fuelled fears about the recent China-US trade deal. As Donald Trump and Xi Jinping’s tariffs ceasefire last weekend — which sparked a one-day rally — fades to a distant memory, investors are back in selling mood as they fret over a […]

Tesla says European Model 3 deliveries from February

PARIS, France (AFP) — Tesla Motors said Wednesday it will begin European deliveries of its long-awaited mass-market Model 3 electric car from February. A spokesperson told AFP the first to take delivery would be customers who had reserved their Model 3 starting March 2016 if they confirm their order by January 1. The spokesperson said customers would be invited to confirm over the coming weeks, starting Wednesday. Tesla’s mid-size, four-door all-electric family car was first […]

Asian markets sink with Wall St as confusion, uncertainty reign

HONG KONG, China (AFP) — Asian markets fell Wednesday following a rout on Wall Street, as investors were bombarded by a “perfect storm” of problems from trade to Brexit that erased the positivity seen at the start of the week. The glum mood overshadowed hints from Donald Trump at more time to resolve the China-US trade row, as well as soothing comments from China about their desire to push on with a weekend agreement between […]

PHL Inflation slows down to 6 percent after series of oil price rollback

(Eagle News) – Inflation, or the increase in prices of goods and services, for November, slowed down to 6 percent, according to the latest data from the Philippine Statistics Authority. This was much lower than October’s 6.7 percent, and was within the lower end of the projection of the Bangko Sentral for inflation between 5.8 percent and 6.6 percent. It is also lower than the 6.3 forecast of the Department of Finance. According to the […]

Asian markets mostly down as China-US trade deal joy fades

HONG KONG, China (AFP) — Asian markets mostly dropped Tuesday as the previous day’s euphoria over the China-US trade war ceasefire gave way to questions about whether the two can ultimately resolve their differences. However, oil prices continued to rise, building on Monday’s surge fuelled by the agreement as well as news of a Russia-Saudi Arabia pact to cap output. Global investors were given some much-needed Christmas cheer at the weekend after Donald Trump and […]