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DUBAI, United Arab Emirates (AFP) — The International Monetary Fund on Sunday warned governments to gear up for a possible economic storm as growth undershoots expectations. “The bottom-line — we see an economy that is growing more slowly than we had anticipated,” IMF Managing Director Christine Lagarde told the World Government Summit in Dubai. Last month, the IMF lowered its global economic growth forecast for this year from 3.7 percent to 3.5 percent. Lagarde cited […]
MUMBAI, India (AFP) — Shares in India’s Tata Motors tanked almost 30 percent on Friday after problems at its Jaguar Land Rover unit dragged the luxury car-maker to India’s biggest quarterly loss. The Mumbai-based manufacturer has been badly hit by falling demand for luxury cars in China, as well as uncertainty over Brexit and rising debt. It announced Thursday a net loss of 270 billion rupees ($3.8 billion) for the quarter ending December owing to […]
PARIS, France (AFP) — French luxury group Hermes said its sales hit a record just shy of 6 billion euros in 2018 as demand for its iconic bags continues to grow in all parts of the world and particularly in China. Hermes called the 7.5 percent increase over 2017 in “particularly healthy, being based mainly on volume” rather than currency effects, which in fact were a drag overall during the year. The consolidated sales figure […]
TOKYO, Japan (AFP) — Tokyo shares closed lower on Friday, following a global market slide stemming from the lowered European economic outlook as well as receding hopes for smooth progress in US-China trade talks. The benchmark Nikkei 225 index dropped 2.01 percent or 418.11 points to end at 20,333.17. Over the week, it was down 2.19 percent. The broader Topix index lost 1.89 percent or 29.63 points to 1,539.40. Over the week, it was down […]
WASHINGTON, United States (AFP) — Amazon CEO Jeff Bezos on Thursday accused the publisher of the National Enquirer of “blackmail” after it threatened to publish intimate photographs sent by the billionaire to his mistress if he did not cease an investigation into the newspaper’s alleged links with Saudi Arabia. It comes after the tabloid last month reported Bezos was in a relationship with former news anchor and entertainment reporter Lauren Sanchez — having accessed private […]
HONG KONG, China (AFP) — Asian markets mostly rose Thursday as regional investors began to return from their Lunar New Year break, though Tokyo edged lower after a negative lead from Wall Street. Most trading floors have reopened but business remains light, with Hong Kong and Shanghai still closed, while focus turns on the resumption next week of China-US trade talks in Beijing. The two sides will try to hammer out a deal to resolve […]
NEW YORK, United States (AFP) — Europe’s stock markets struggled to find direction Wednesday as investors digested downbeat German economic data following an uneventful State of the Union address by US President Donald Trump. Frankfurt dropped 0.3 percent as official figures showed that industrial orders in Germany fell back in December, the latest sign of a slowdown in Europe’s largest economy. London stocks slipped by 0.1 percent meanwhile, with online supermarket Ocado hit by a […]
TOKYO, Japan (AFP) — Tokyo stocks opened lower on Thursday tracking falls in US shares, with investors focusing on corporate earnings reports. The benchmark Nikkei 225 index was down 0.19 percent or 39.11 points at 20,834.95 in early trade while the broader Topix index slipped 0.24 percent or 3.78 points to 1,578.35. “Following declines in US shares, selling is seen dominating trade in early hours,” Okasan Online Securities said in a commentary. Given earnings reports […]
by Natsuko FUKUE Agence France-Presse TOKYO, Japan (AFP) — Japanese car giant Toyota slashed its full-year net profit forecast Wednesday after saying its nine-month figure had tumbled nearly 30 percent as it was hit by investment losses. The firm’s senior managing officer Masayoshi Shirayanagi also told reporters there was no way to avoid a negative impact in the event of a no-deal Brexit — days after fellow Japanese carmaker Nissan announced a cut in production […]
JAKARTA, Indonesia (AFP) — Indonesia posted slightly stronger economic growth in 2018, data showed Wednesday, but it still fell well short of President Joko Widodo’s seven percent target as elections draw closer. Southeast Asia’s biggest economy expanded 5.17 percent on-year, ticking up from 5.10 percent in 2017 and beating most analyst forecasts. Domestic spending was a key driver, the statistics agency said, as the commodities-driven economy weathered rocky global demand. “This growth is quite an […]
HONG KONG, China (AFP) — Shares in Tokyo and Sydney rose Wednesday in another holiday-thinned trading day as investors tracked a positive lead from Wall Street but there was little movement after Donald Trump’s State of the Union address. With most of the region off for the Lunar New Year break there were few catalysts to drive business. Trump’s annual address touched on a number of issues including the China trade war, North Korea, the […]
HONG KONG, China (AFP) — Shares in Tokyo and Sydney rose Wednesday in another holiday-thinned trading day as investors tracked a positive lead from Wall Street and await Donald Trump’s State of the Union address. With most of the region off for the Lunar New Year break there were few catalysts to drive business, though Japanese investors are also looking forward to the release of Toyota’s earnings after the market close. Trump’s annual address will […]
