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WASHINGTON, United States (AFP) — US President Donald Trump said Tuesday that as a favor to China his administration was considering a fresh set of penalties on embattled Chinese company ZTE to replace crippling sanctions imposed last month that threatened to put the firm out of business. ZTE could face a new fine of as much as $1.3 billion as well as a management shakeup and strict new rules, Trump told reporters at the White […]
(Eagle News) — Finance Secretary Carlos Dominguez III has called on lawmakers to proceed with approving the Duterte administration’s proposed reforms on corporate taxation and the modernization of investment incentives, which comprise the government’s second tax reform package. In pushing for the passage of the next phase of the tax reform law, Dominguez said that TRAIN had been “unfairly blamed for the elevated inflation rate.” He said the impact on prices of the first […]
by Kyoko Hasegawa and Miwa Suzuki Agence France Presse TOKYO, Japan (AFP) — Japanese entertainment giant Sony Tuesday announced a $1.9-billion deal to acquire EMI Music Publishing, one of the world’s largest music publishing companies with rights to songs by the likes of Queen and Pharrell Williams. The deal adds a catalog of more than two million songs — including some of the greatest hits from the first half of the 20th century — to […]
HONG KONG, China (AFP) — Asian markets rallied Monday and the dollar extended gains after the US and China said they had agreed to hold off imposing tariffs, averting a potentially damaging trade war. After high-level talks in Washington, the two economic superpowers revealed a deal had been hammered out, ending months of tension that have sent financial markets into a frenzy. Treasury Secretary Steven Mnuchin told Fox News on Sunday “right now we have […]
NEW YORK, United States (AFP) — British political consulting group Cambridge Analytica filed for voluntary Chapter 7 bankruptcy in the Southern District of New York, court documents showed. The firm, whose attorney filed late Wednesday, announced early May that it would close and file for bankruptcy in Britain and the United States after failing to recover from the Facebook data scandal. The documents, seen by AFP, listed Cambridge Analytica LLC’s estimated assets in the […]
RIYADH, Saudi Arabia (AFP) — The Saudi and Emirati energy ministers voiced concerns on Thursday over oil price fluctuations, saying they were determined to maintain output, the Saudi oil ministry said. In a phone call, Saudi Arabia’s Khaled al-Faleh and the United Arab Emirates’ Suheil al-Mazrouei “voiced their concerns about recent market volatility, fuelled by anxiety over geopolitical events despite the availability of ample supply,” the ministry said. Benchmark oil contract Brent North Sea hit […]
HONG KONG, China (AFP) — Asian traders were biding their time in early trade on Thursday as a healthy lead from Wall Street was tempered by geopolitical concerns and caution ahead of high-level China-US trade talks. All three main US indexes finished in the green zone thanks to another positive round of economic indicators and corporate results. However, traders remain on edge with expectations that inflation will pick up pace pushing key 10-year Treasury yields […]
MEXICO CITY, Mexico (AFP) — Hackers who targeted Mexico’s interbank payment system made off with more than $15 million in the past several weeks, the Bank of Mexico said Wednesday. The amount of funds involved in the irregular activity totaled “approximately 300 million pesos ($15.3 million),” central bank governor Alejandro Diaz de Leon told reporters. He said commercial bank customers’ accounts were never in danger. An investigation is under way, the governor said, without indicating […]
TOKYO, Japan (AFP) — Japan’s economy shrank for the first time in two years in the first quarter of the year amid weak consumption, official data showed Wednesday. The world’s third-largest economy contracted by 0.2 percent quarter-on-quarter in the January-March period, compared with growth of 0.1 percent at the end of 2017, the Cabinet Office said. Private consumption was flat after an uptick of 0.2 percent in the final quarter of last year. Private […]
A financial institution established by the Organization of Petroleum Exporting Countries (OPEC) to help reduce poverty in developing countries has offered its assistance to the Philippines in funding the Duterte administration’s “Build, Build, Build” infrastructure modernization program. During a recent meeting with Finance Secretary Carlos Dominguez III, key officials of the OPEC Fund for International Development (OFID), reiterated the institution’s “keen interest to assist and collaborate” with the Philippine government in carrying out its priority […]
HONG KONG, China (AFP) — Most Asia markets rose Monday as investors built on last week’s rally, with another healthy lead from Wall Street providing support, but oil prices retreated from their three-and-a-half-year highs. Malaysia’s ringgit sank almost one percent but stocks were up 0.5 percent in Kuala Lumpur as trading resumed after last week’s general election that saw a shock win for 92-year-old former premier Mahathir Mohamad. While analysts had expected a sharp drop […]
SAN FRANCISCO, United States (AFP) — Xerox on Sunday announced it was terminating a proposed merger with Fujifilm and appointing a new chief executive after entering into a settlement with activist shareholders who had contested the takeover. In a statement on its website, Xerox cited “material deviations” in the audited financials of an existing joint venture known as Fuji Xerox that is controlled by Fujifilm. The move follows a lawsuit by powerful shareholders Carl […]
