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by Aurélia END Clare BYRNE Agence France-Presse PARIS, France (AFP) – A French court on Monday found IMF head Christine Lagarde guilty of negligence over a massive state payout to a tycoon when she was French finance minister but spared her a fine or prison sentence. The ruling was a rare setback in Lagarde’s glittering career but it was not clear how it would affect her position at the International Monetary Fund, whose board was […]
MANILA – President Rodrigo Duterte wooed a group of business leaders in Singapore by discussing the many developments and reforms in the Philippines especially in the key growth sectors: energy and infrastructure. “The Philippines is open for business and we welcome what you have to offer,” the President told them at the Jurong Ballroom of the Shangri-la Hotel in Singapore on Friday, Dec. 17. This would mean more investments and encouraging competition, putting an end […]
Agence France-Presse CARACAS, Venezuela (AFP) – Desperate Venezuelans looted delivery trucks and clashed with police Friday as protests broke out in anger at chaotic efforts to change the country’s banknotes, officials and locals said. The authorities took the largest-denomination note out of circulation but failed to release the bigger bills supposed to replace it in time, leaving citizens with no way of buying food. “There is attempted looting in various parts of the country,” tweeted […]
QUEZON City, Philippines (Eagle News) — Malacañang allayedfears of the business sector regarding the interest rate hike implemented by the United States Federal Reserve. According to Finance Secretary Carlos Dominguez, the country’s macroeconomic fundamentals remain strong and that the Duterte administration has many massive infrastructure projects that will bring in needed cash.
MANILA, Dec. 16 – Finance Secretary Carlos Dominguez III expressed optimism that the country’s rock solid macroeconomic fundamentals along with the Duterte administration’s infrastructure buildup strategy will create enough fiscal and monetary buffers for the Philippines to ride out external shocks such as this latest move by the US Federal Reserve Board to raise interest rates. Dominguez assured the public and the business community that the government is maintaining its growth targets for the short […]
TOKYO, Japan (AFP) — Tokyo stocks opened higher on Thursday as the dollar soared against the yen in response to the US central bank’s move to hike interest rates. The greenback was trading at a 10-month high of 117.63 yen — a plus for shares of Japanese exporters — after the Federal Reserve deemed the US economy strong enough to absorb higher borrowing costs. It was only the second rate rise in a decade. The […]
by Eugenia LOGIURATTO Agence France Presse BRASILIA, Brazil (AFP) – Brazil’s Senate on Tuesday approved a 20-year government spending freeze billed as the centerpiece of austerity reforms aimed at restoring economic health to the troubled Latin American giant. The upper house voted 53 to 16 to lock in the spending ceiling. Center-right President Michel Temer says tough measures are needed to get Brazil’s finances back under control, but his austerity policies have prompted violent protests […]
by Aurélia END Agence France Presse PARIS, France (AFP) – IMF boss Christine Lagarde faced a grilling Tuesday, the second day of her trial, over the “colossal” damages payout authorised for a tycoon while she was French finance minister. Presiding judge Martine Ract Madoux forced the head of the International Monetary Fund on the defensive as she questioned why 45 million euros ($48 million) had been paid to Bernard Tapie in compensation. These so-called “moral […]
HAVANA, Cuba (AFP) — Cuba signed a deal with Google Monday to enable faster access to content from the US tech giant on the communist island, where internet service is notoriously limited and slow. Eric Schmidt, executive chairman of Google parent company Alphabet, signed the deal in Havana alongside the head of Cuban state telecommunications company Etecsa, Mayra Arevich. Under the deal, Cuba will gain access to a network called Google Global Cache, which stores content […]
BEIJING, China (AFP) — China’s industrial output and retail sales growth both accelerated in November, government data showed Tuesday, in a sign of stabilisation for the world’s second-largest economy. Industrial output rose 6.2 percent in the month, ahead of both October’s figures and economists’ predictions of 6.1 percent in a Bloomberg News survey. Retail sales rose 10.8 percent on-year in nominal terms, up from 10.0 percent in October, while fixed-asset investment, a gauge of infrastructure spending, […]
SINGAPORE , Singapore (AFP) — Oil soared Monday following a landmark deal by Russia and other non-OPEC producers to join the cartel in capping output, in a bid to end a stubborn global glut that has hammered prices. In a bid to reverse a dramatic fall in income, Russia and 10 other non-OPEC states on Saturday said they will reduce their production by more than half a million barrels per day (bpd), the Organization of […]
(Eagle News) — Ipinagmalaki ni Department of Tourism (DOT) undersecretary Ronaldo Alan Canizal ang patuloy na pagtaas ng tourist arrival sa bansa. Ayon kay Canizal, pinakamaraming dayuhan na bumisita sa bansa ay mula sa Korea, Amerika, China, Japan At Australia. Umabot na rin sa P178 billion-pesos ang naging income ng bansa mula sa nasabing mga turista mula pa noong Enero hanggang sa kasalukuyan. Target din ng DOT na umabot sa 6 million ang tourist arrival […]
