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by David Harding Agence France Presse DOHA, Qatar (AFP) — On the first anniversary of a bitter Gulf diplomatic rift, Qatar’s foreign minister on Tuesday declared his country stronger than ever and said it was open to dialogue with its regional rivals. Mohammed bin Abdulrahman Al-Thani also rebuked Qatar’s foes for “imaginary victories” against the small Gulf state, the target of a Saudi-led boycott. “One year on and Qatar and its people are stronger,” Al-Thani, […]
RIYADH, Saudi Arabia (AFP) — The Saudi economy pulled out of recession in the first quarter of 2018 thanks to oil price rises, a think-tank said Tuesday. Capital Economics said the oil-dependent Saudi economy grew by 1.5 percent in the first quarter, after having contracted by 0.7 percent in 2017. “The oil sector was the main driver of the recovery,” the London-based group said. Oil prices surged to around $80 a barrel last month from […]
TOKYO, Japan (AFP) — Tokyo stocks gained Tuesday as a strong US jobs report continued to support the global market while the yen edged lower against the dollar, boosting Japanese exporters. The benchmark Nikkei 225 index rose 0.28 percent or 63.60 points to close at 22,539.54, while the broader Topix index edged up 0.02 percent or 0.27 points at 1,774.96. “Investors remain utterly unfazed by the prospect of trade tariffs or even higher interest rates,” […]
HONG KONG, China (AFP) — Asian markets rallied Monday following a forecast-busting US jobs report that reaffirmed the world’s top economy is improving, while investors were also cheered by the formation of new governments in Italy and Spain. However, while the week has got off to a positive start, there are lingering worries about a possible global trade war after the US hit Canada, Mexico and the European Union with steel and aluminium tariffs. Focus […]
WASHINGTON, United States (AFP) — President Donald Trump’s top economics advisor acknowledged Sunday the trade dispute with US allies could jeopardize the booming American economy but dismissed criticism of the administration’s stance as overblown. Larry Kudlow’s remarks came after finance ministers from the Group of Seven industrialized countries on Saturday expressed outrage over US-imposed tariffs on steel and aluminum and called on Washington to reverse course. Canada’s Prime Minister Justin Trudeau was especially irked […]
by Martin Parry © Agence France-Presse SYDNEY, Australia (AFP) — The Commonwealth Bank Monday agreed to the largest civil penalty in Australian corporate history to settle claims it breached anti-money laundering and counter-terrorism financing laws. The Aus$700 million (US$530 million) fine — which is subject to court approval — comes after mediation between the nation’s biggest lender and the country’s financial intelligence agency AUSTRAC. It follows the bank being taken to court last August for “serious […]
by Simon Morgan with Delphine Touitou Agence France Presse The world’s largest economies stood on the brink of all-out trade war as the EU, Canada and Mexico drew up retaliatory measures to Washington’s stinging steel and aluminium tariffs that came into effect on Friday. Washington angered its major allies by slapping duties of 25 percent and 10 percent on imports of aluminium and steel. The measures had actually been decided back in March, but […]
TOKYO, Japan (AFP) — Embattled conglomerate Toshiba on Friday completed the $21 billion sale of its prized chip unit to an investment consortium, a move seen as crucial to keeping the Japanese firm afloat. The deal had been delayed while Chinese regulators examined whether it could violate anti-trust laws, but they finally granted approval in mid-May. “Toshiba hereby gives notice that the closing of the sale has been completed today as scheduled,” the group said […]
HONG KONG, China (AFP) — Asian equities bounced back Thursday from the previous day’s mauling while the euro held on to a recovery as fears of turmoil in Italy were soothed by conciliatory noises from the country’s two biggest populist parties. The head of the anti-establishment Five Star Movement said he was prepared to offer a compromise candidate for the finance ministry after President Sergio Mattarella’s decision to veto an avowed eurosceptic led to the […]
SAN FRANCISCO, United States (AFP) — International Data Corporation forecast Wednesday that global smartphone sales would cool this year before heating up with help from new 5G networks and India’s vibrant market. An IDC Worldwide Mobile Phone Tracker expected smartphone sales to slip two-tenths of a percent this year to total 1.462 billion in a second straight year of slight decline. But IDC predicted that the smartphone market would reignite next year, growing about 3 percent […]
NEW YORK, United States (AFP) — Global oil prices fell Friday after top producer Saudi Arabia signaled a likely boost in supply as soon as the third quarter, and world stock markets were mixed over the sudden US move to cancel the summit with North Korea. Saudi oil minister Khaled al-Faleh said at an economic conference in Russia that a gradual output increase could happen in the second half of the year to prevent any […]
by Jennie MATTHEW Agence France Presse NEW YORK, United States (AFP) — Starbucks closed more than 8,000 stores on Tuesday to train around 175,000 employees against racial bias, an unprecedented public operation that highlights America’s ongoing struggle with discrimination. The move follows the April 12 arrest of two black men in a Philadelphia Starbucks, which sparked outrage, protests, and soul-searching about racial tensions that have deteriorated under President Donald Trump. For many, the training was […]
