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By Caesar Vallejos OPEN FOR BUSINESS, Eagle News Service The Philippines will continue to be a viable investment and growth hub despite the global economic slowdown. This was the message of top policymakers and business leaders at the recently concluded Manila Times Economic Outlook 2019 Forum at the Dusit Thani Manila. International Monetary Fund (IMF) Resident Representative to the Philippines Yongzheng Yang confirmed that the global growth is slowing down. He said that “in 2018, […]
HONG KONG, China (AFP) — Asian markets retreated Wednesday after two days of gains but the pound enjoyed some stability after the previous day’s sharp losses sparked by Theresa May’s Brexit deal being tossed out by MPs. Sterling saw wild fluctuations Tuesday as it hit a near two-year high on news the prime minister had won a last-minute revision to her agreement with the EU, then tanked to a three-week low as it was rejected […]
NEW YORK, United States (AFP) — The British pound see-sawed Monday as traders jockeyed for position on the eve of another critical parliamentary vote for Prime Minister Theresa May. Meanwhile, in New York, US stocks snapped a five-day losing streak, despite a sharp decline early in the session for Boeing following Sunday’s deadly crash involving one of its a top-selling passenger jets. The British currency kicked off the trading cycle in Asia by tanking to […]
HONG KONG, China (AFP) — Asian markets were mixed Monday as bargain-buying from last week’s sharp losses was offset by a weak US jobs report and ongoing concerns about the global economy. Investors ran for the hills Friday after the European Central Bank slashed its growth and inflation forecasts, and China announced a plunge in exports and imports. Later that day the Labor Department said the US economy created just 20,000 jobs last month, a […]
TOKYO, Japan (AFP) — Former Nissan chief Carlos Ghosn is seeking court permission to attend a board meeting at the Japanese automaker while out on bail, local media reported Monday. Ghosn wants to attend a Tuesday meeting at the company’s headquarters in the city of Yokohama, Kyodo news agency reported, citing one of his lawyers. The office of Ghosn’s lead lawyer Junichiro Hironaka declined to comment. Nissan said it could not confirm that Ghosn was […]
By Caesar Vallejos OPEN FOR BUSINESS, Eagle News Service Department of Finance Carlos Dominguez III said that by the end of the Duterte administration, government spending on infrastructure is expected to be equivalent to 7% of Gross Domestic Product (GDP). “By then, we would be able to close the country’s infrastructure gap,” he said. Speaking at the recently concluded 9th Business Forum on the Philippine Economic Outlook for 2019 organized by the Manila Times, Dominguez […]
WASHINGTON, United States (AFP) — US President Donald Trump said Thursday negotiations to resolve his eight-month trade war with China were making progress, expressing fresh optimism about resolving the confrontation between the world’s largest economies. Trump told reporters at the White House that the talks were “moving along pretty well.” Chinese and American officials have alternated between expressing optimism that a deal is at hand and also warning that much remains to be done to […]
NEW YORK, United States (AFP) — An expanded partnership for NBA China and Alibaba Group announced Wednesday will bring NBA content to Alibaba platforms for the first time and boost online shopping opportunities for Chinese consumers. The “NBA Section” to be launched across all Alibaba platforms will allow league fans in China to personalize and engage with more NBA content. NBA game highlights, games from past seasons and original programs will be offered to almost […]
NEW YORK, United States (AFP) — Wall Street stocks fell Wednesday, continuing its run of recent weakness amid a dimming global economic outlook. The Dow Jones Industrial Average dropped 0.5 percent to finish the session at 25,673.46. The broad-based S&P 500 shed 0.7 percent to 2,771.45, while the tech-rich Nasdaq Composite Index tumbled 0.9 percent to end the day at 7,505.92. After a strong start to 2019, US stocks have generally traded flat to lower […]
SINGAPORE (AFP) — Southeast Asian ride-hailing firm Grab said on Wednesday it has secured $1.5 billion in fresh financing from a fund run by Japan’s SoftBank and will use a significant portion of it to expand in Indonesia. Grab has seen its business grow rapidly since it bought US-based rival Uber’s regional ride-hailing and food business in March last year. Uber received a 27.5 percent stake in Grab in return. The fresh investment from the […]
by Eva Xiao and Ryan McMorrow BEIJING, China (AFP) — China’s premier warned Tuesday that the country faces a “tough struggle” as he unveiled tax cuts to prop up a stuttering economy while increasing military spending to nearly $180 billion. The slowdown and US trade war have become major challenges for President Xi Jinping, a year after becoming the country’s most powerful leader since Mao Zedong with the abolition of term limits and etching of […]
SYDNEY, Australia (AFP) — Australia’s economic growth ground to a near halt in the second-half of 2018, official data showed Wednesday, thrusting the issue to the front and center of an already contentious general election campaign. The figures released by Australia’s statistics agency showed growth for October to December at 0.2 percent, after a 0.3 percent reading in the previous three months. Conservative Prime Minister Scott Morrison has based his re-election campaign on stewardship of […]
