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TOKYO, Japan (AFP) — Tokyo shares opened higher Monday, with other regional bourses following suit, as investors breathed a sigh of relief after the US and China agreed to suspend new tariffs in their escalating trade war. Investors returned to buying after the long-awaited meeting between US President Donald Trump and Chinese President Xi Jinping on the sidelines of weekend G20 talks in Argentina. The leaders of the world’s top two economies agreed not to […]
ANKARA, Turkey (AFP) — Inflation in Turkey dropped for the first time to nearly 22 percent last month after surging to a 15-year high in October, official statistics showed on Monday. The increase in consumer prices fell to 21.62 percent in November compared with he same month last year, still very high in relative terms but down from the 25.24 percent rate recorded in October and the first drop since March this year, according to […]
by Amélie BOTTOLLIER-DEPOIS Agence France-Presse KATOWICE, Poland (AFP) — The World Bank on Monday unveiled $200 billion in climate action investment for 2021-25, adding this amounts to a doubling of its current five-year funding. The World Bank said the move, coinciding with a UN climate summit meeting of some 200 nations in Poland, represented a “significantly ramped up ambition” to tackle climate change, “sending an important signal to the wider global community to do the […]
Oil prices soared on Monday after Russia and Saudi Arabia renewed a pact to cap output, while the US agreed to halt raising tariffs on Chinese imports, stalling a trade row that many feared could hit demand for the commodity. Russian President Vladimir Putin said Saturday he and Crown Prince Mohammed bin Salman “have agreed to extend our agreement” to limit production as prices slump on global markets. An existing deal committing OPEC and non-members […]
HONG KONG, China (AFP) — Hong Kong and Shanghai led a surge across Asian markets Monday after the United States agreed to suspend imposing tariffs on China for three months, while oil prices soared on expectations of a big production cut. In a much-anticipated meeting between Donald Trump and Xi Jinping at the weekend, the heads of the world’s two biggest economies hammered out a deal that will see them hold off on their tit-for-tat […]
BUENOS AIRES, Argentina (AFP) — US President Donald Trump and his Chinese counterpart Xi Jinping on Saturday struck a deal at working dinner on the sidelines of the G20 summit to effectively stall their trade war. Trump hailed what he described as “an amazing and productive meeting with unlimited possibilities” for both countries, and said it was a “great honor” to work with Xi. Here are the main points of the deal: – Tariffs – […]
BUENOS AIRES, Argentina (AFP) — The United States said Saturday that it agreed in a long-awaited summit with China to suspend new tariffs for 90 days as the two powers seek to end a trade war. The White House said a threatened increase of tariffs on $200 billion worth of Chinese goods from 10 to 25 percent, which was set to take effect on January 1, would be put off for 90 days. “If […]
HONG Kong, China (AFP) — Asian markets mostly rose Friday bringing a broadly upbeat week to a positive end as attention turns to the much-anticipated meeting between Donald Trump and Xi Jinping. Energy firms enjoyed gains after a rally in oil prices, while high-yielding and emerging market currencies continued Thursday’s advances against the dollar as the Federal Reserve shows signs it will slow down its pace of interest rate hikes. While the outcome of […]
By Caesar Vallejos Eagle News Service Nobel Laureate, Prof. Dan Shechtman and notable business and government leaders shared their experience and expertise in a forum entitled “Game Changers: The Impact of Innovation, Technology and Entrepreneurship” that was held at the Shangri-La at The Fort, caping off the 50th anniversary celebrations of the Asian Institute of Management (AIM). In his talk, Prof. Shechtman, recipient of the 2011 Nobel Prize in Chemistry, emphasized the need to establish […]
HONG KONG, China (AFP) — The dollar extended losses in Asia while most equities rose after the head of the Federal Reserve hinted at a softer pace of interest rate hikes, though investors remain wary about the weekend’s crunch trade talks between Donald Trump and Xi Jinping. US markets were sent soaring Wednesday after Fed chief Jerome Powell said borrowing costs were still historically low but only “just below” the neutral level, a rate that […]
ZURICH, Switzerland (AFP) — Switzerland’s economy abruptly went into reverse in the third quarter, contracting by 0.2 percent, with exports tumbling and even the country’s vaunted financial sector seeing growth halt. “The strong, continuous growth phase enjoyed by the Swiss economy for one and a half years was suddenly interrupted,” said the State Secretariat for Economic Affairs (SECO). “Switzerland is thus following the significant economic downturn seen at the same time in other European countries, […]
by Karyn NISHIMURA-POUPEE and Anne BEADE Agence France Presse TOKYO, Japan (AFP) — With Carlos Ghosn’s arrest, frustrations over the tycoon’s management style have burst into the open within Nissan, with some staff also weary of playing second fiddle to Renault and its French-state backers. Rumblings within Nissan have grown in intensity since the beginning of the year, analysts say, as the 64-year-old Brazil-born Frenchman appeared to be moving towards a complete merger with Renault […]
