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HONG KONG, China (AFP) — The sell-off on Asian markets showed no sign of letting up Wednesday with investors fearing an escalation in the China-US trade row after Beijing said it planned to impose anti-dumping sanctions worth billions on Washington. The news adds to a sense of pessimism across trading floors in recent weeks as the world’s top two economic powers stand on the cusp of an all-out trade war that observers fear could batter […]
LONDON, United Kingdom (AFP) — Mark Carney will remain Bank of England chief until January 2020 to steer the UK economy through possibly “quite a turbulent period” post-Brexit, finance minister Philip Hammond announced Tuesday. Speaking in parliament, Hammond said BoE governor Carney had agreed to prolong his stay by seven months “in order to ensure continuity through what could be quite a turbulent period for our economy in the early summer of 2019”. Britain is set to leave […]
VLADIVOSTOK, Russia (AFP) — Russian President Vladimir Putin on Tuesday said Moscow and Beijing plan to use their own national currencies more often in trade deals as Russia’s relations with the West deteriorate. “The Russian and Chinese sides confirmed their interest in using national currencies more actively in reciprocal payments,” Putin told journalists during a press briefing with Chinese Leader Xi Jinping after talks at an economic forum in the far eastern Russian city of […]
VLADIVOSTOK, Russia (AFP) — Chinese e-commerce giant Alibaba and Russian technology group Mail.ru on Tuesday announced a deal to launch a joint venture in Russia and former Soviet countries. The two groups, along with the Russian sovereign wealth fund RDIF and telecom operator MegaFon, announced the creation of “a new strategic partnership” as Russia hosts an economic forum in the far eastern city of Vladivostok. Alibaba and Mail.ru said in a statement this would “integrate […]
by Ryan McMorrow Agence France Presse BEIJING, China (AFP) — A growing number of Chinese companies are adopting a crafty way to evade US President Donald Trump’s tariffs: remove the “Made in China” label by shifting production to countries such as Vietnam, Serbia and Mexico. The world’s two largest economies have been locked in a months-long trade fight after Trump imposed 25 percent customs duties on $50 billion worth of Chinese goods this summer, triggering […]
HONG KONG, China (AFP) — Donald Trump’s latest threat to impose tariffs on all Chinese imports sent Asian markets tumbling Monday on growing fears of an all-out trade war between the world’s top two economies. The president’s comments Friday added to the uncertainty on trading floors, which have also been hit by a concerns of a brewing financial crisis in emerging markets. They also overshadowed data showing a bigger-than-forecast jump in US jobs creation for […]
BEIJING, China (AFP) – Alibaba co-founder and chairman Jack Ma will step down as head of the e-commerce giant on September 10, 2019, the company said on Monday. Ma is staying on as executive chairman for 12 months to “ensure a smooth transition” before handing over his role to chief executive officer Daniel Zhang, Alibaba said in a statement. “While remaining as executive chairman in the next 12 months, I will work closely with Daniel […]
HONG KONG, China (AFP) — Most Asian equities sank on Friday as investors fret that the US will ramp up its trade war with China by imposing fresh tariffs, while chip-makers were among the biggest losers following a sharp sell-off in New York. While emerging market contagion fears continue to stalk trading floors, Donald Trump’s protectionist drive returned to the fore following an indication Japan was next in the firing line, while NAFTA talks with […]
TOKYO, Japan (AFP)–Tokyo stocks opened lower on Friday, with falls in US high-tech shares and a higher yen weighing on the market. The benchmark Nikkei index fell 0.58 percent or 129.42 points to 22,358.52 in early trade, while the broader Topix index was down 0.44 percent or 7.38 points at 1,685.03. The dollar fetched 110.42 yen in early Asian trade, 110.86 yen in New York in New York late Thursday. “Falls in US high tech […]
By Caesar Vallejos Eagle News Service While others saw chaos in traffic, motorcycle retailer Ropali Corporation and on-demand delivery app Lalamove saw a livelihood opportunity. “The basic problem at present is the lack of livelihood, the lack of source of income. With the Lalamove business, I think we can help people who are willing to buy motorcycles,” Carlos B. Pasion, Chief Operations Officer of Ropali Corporation said. The partnership which was launched at the Ropali […]
HONG KONG, China (AFP) — Asian equities were mixed Thursday following the previous day’s rout as concerns about contagion from emerging markets fray investor nerves, while sentiment is also being dampened by the possibility of further US tariffs on China. And while EM currencies, which have taken a battering in recent weeks, enjoyed a much-needed breather, there are warnings of further pain to come in foreign exchanges. Worries that financial crises in Argentina, South Africa […]
HONG KONG, China (AFP) — Hong Kong stocks suffered fresh losses in the first few minutes Thursday as emerging market fears build and investors grow concerned the US will impose further sanctions on Chinese imports. The Hang Seng Index shed 0.64 percent, or 174.64 points, to 27,069.21. The benchmark Shanghai Composite Index gave up 0.25 percent, or 6.76 points, to 2,697.58, while the Shenzhen Composite Index, which tracks stocks on China’s second exchange, lost 0.38 […]
