Business

China exports surge 16.4% year-on-year in March: Customs

BEIJING,China (AFP) — Chinese exports surged 16.4 percent year-on-year to $180.6 billion in March, official data showed Thursday, in a sign of stabilisation for the world’s second largest economy. The world’s largest trader in goods, China’s performance affects partners from Australia to Zambia, which have been hit as its expansion has slowed to levels not seen in a quarter of a century. The figures mark a dramatic turnaround for the country, which saw exports drop […]

Cathay Pacific shares rise after management shakeup

HONG KONG, China (AFP) — Shares in Hong Kong carrier Cathay Pacific were up Thursday, a day after the airline announced a management shakeup on the heels of its first loss in eight years. Last month the troubled airline posted its first annual net loss since 2008, citing intense competition as lower cost carriers, particularly from mainland China, eat into its market share. It reported a $74 million net loss for 2016 and warned that […]

DOLE reveals top high-paying jobs in the country

QUEZON CITY, Philippines (Eagle News) — The Department of Labor and Employment (DOLE) has revealed the top 10 highest-paying jobs in the country. Labor Secretary Rosalinda Dimapilis-Baldoz on Thursday revealed the list citing the latest study of the Bureau of Local Employment (BLE). The top 10 highest-paying positions in the Philippines, according to this latest study are: The labor secretary advised job seekers to be equipped with updated labor market information. “Students and jobseekers may find […]

China producer prices jump in March as demand goes up

BEIJING, China (AFP) — Prices for goods at the factory gate in China jumped in March, the government said Wednesday, in a positive sign of strengthening demand for the world’s second-largest economy. The producer price index (PPI) rose 7.6 percent year-on-year in March, according to the National Bureau of Statistics, slightly beating economists’ expectations of a 7.5 percent increase in a Bloomberg News survey. Factory gate inflation “has eased,” NBS analyst Sheng Guoqing said in […]

North Korea reforming economy while denying change

by Sebastien Berger Agence France Presse PYONGYANG, North Korea (AFP) — On the side-streets of Pyongyang, small traders sell vegetables from impromptu stalls. At markets, dealers offer imported household goods — even Coca-Cola — and in state-owned department stores hard currency is openly exchanged at black-market rates. Officially, North Korea denies it is reforming and declares it remains guided by the Juche, or self-reliance, philosophy of founder Kim Il-Sung whose 105th birth anniversary is being marked […]

Tokyo stocks open lower as yen jumps

TOKYO, Japan (AFP) — Tokyo stocks opened lower on Wednesday after the yen rose to five-month highs against the dollar on concern over tensions in the Middle East and on the Korean Peninsula. Investors were subdued as they watched developments following last week’s US strike on Syria and intensifying sabre-rattling by the United States and North Korea. Nervous investors often plough into the yen at times of instability as it is seen as a safe […]

US stocks edge lower on geopolitical concern

New York, United States (AFP) — Wall Street stocks finished modestly lower Tuesday as worries about Syria and the upcoming French presidential election weighed on investor sentiment. Geopolitical concerns were front and center as US Secretary of State Rex Tillerson flew to Moscow Tuesday to confront the Kremlin about its support for the Syrian government, amid US statements that Russia tried to cover up a chemical attack. At the same time, investors were eyeing the […]

Qualcomm fires back at Apple with countersuit

WASHINGTON, United States (AFP) — Qualcomm has moved on the offensive in its legal battle with Apple with a countersuit claiming the iPhone maker breached agreements and encouraged regulatory attacks worldwide on the US computer chipmaker. In a legal filing late Monday, Qualcomm denied the charges made by Apple in its January lawsuit, while accusing Apple of failing to negotiate in good faith on patent royalties. Apple’s complaint argued that Qualcomm abused its market power […]

Most Asian markets rise but geopolitical worries sap gains

HONG KONG, China (AFP) — Most Asian markets rose Tuesday but investors remain on edge over geopolitical tensions with US-Russian relations strained by last week’s Syria strike and sabre-rattling on the Korean peninsula. While stocks pared the initial plunge that met news of the US missile attack on a Syrian airbase, the brewing crisis is keeping dealers on edge heading into the company earnings season. President Donald Trump’s administration has rankled Moscow by saying it […]

Diamond earrings on display in London ahead of Geneva sale

LONDON, United Kingdom (Reuters) — Two dazzling pink and blue pear-shaped diamonds are together expected to fetch close to $70 million when they go under the hammer next month. Sotheby’s said the Apollo and Artemis stones are “by far the most important pair of earrings ever offered at auction”. They will be offered to buyers separately at the auction house’s May 16 Magnificent Jewels and Noble Jewels sale in Geneva. The 14.54 carat Apollo Blue […]

Tesla overtakes General Motors in market value

by John BIERS Agence France Presse NEW YORK, United States (AFP) — Tesla Motors overtook General Motors to become the biggest US automaker by market capitalization Monday, a sign of how Silicon Valley has captured investor excitement at Detroit’s expense. Tesla shares were up 3.0 percent to $311.74 near 1720 GMT, for a market capitalization of $51.43 billion, more than $1 billion above GM, a 109-year-old company that sold almost 120 times as many cars […]

First ‘Silk Road’ train from Britain leaves for China

by Robin MILLARD Agence France Presse STANDFORD-LE-HOPE, United Kingdom (AFP) — The first-ever freight train from Britain to China started its mammoth journey on Monday along a modern-day “Silk Road” trade route as Britain eyes new opportunities after it leaves the European Union. The 32-container train, around 600 metres (656 yards) long, left the vast London Gateway container port laden with whisky, soft drinks and baby products, bound for Yiwu on the east coast of […]