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by Roland Jackson LONDON, United Kingdom (AFP) — The oil market was gripped this week by an output freeze deal between the world’s top two producers Saudi Arabia and Russia. Prices initially rebounded on Tuesday, before hitting reverse as traders assessed the conditional agreement between Saudi Arabia and Russia and two other producers to limit output. In a bid to stabilize an oversupplied market, Russia and OPEC members Saudi Arabia, Venezuela and Qatar announced […]
MANILA, Philippines – According to Presidential Communications Secretary Sonny Coloma, three global companies based in Los Angeles, California expressed their interest in conducting business in the Philippines after meeting with President Benigno Aquino III. Said companies include Walt Disney International. Coloma added that said companies are considering the country as investment venue. (Eagle News Service Described by Jay Paul Carlos, Video Editing by Jericho Morales, Uploaded by MRFaith Bonalos)
SINGAPORE (AFP)– Oil prices fell in Asia Friday after a sharp rise in US crude stockpiles and Saudi Arabia’s rejection of proposed output cuts shot down a rally by the battered commodity. The about-turn came as the US Energy Department reported a 2.1 million barrel increase in US commercial crude inventories, to the highest in more than eight decades, as well as sizeable increases in gasoline and other refined products. An inventories rise typically suggests soft […]
HONG KONG, China (AFP) — The rally in Asia stocks fizzled out Friday, as a renewed weakening in the price of oil dampened sentiment and safe haven assets such as the yen received a boost. US crude fell below $31 a barrel as traders digested news that American stockpiles rose to the highest in more than eight decades. While turbulence in Asian markets has abated this week with losses earlier in the year being partially […]
TOKYO, Japan (AFP) — Tokyo stocks opened lower Friday, as a stronger yen dented exporters and Wall Street disappointed. US equities fell on Thursday after a recent rally in oil prices fizzled, offering a weak lead to Japanese stocks at the start of the global day. The benchmark Nikkei 225 index at the Tokyo Stock Exchange dropped 0.90 percent, or 146.40 points, to 16,050.40 in opening deals, after a 2.28-percent jump the previous day. The […]
NEW YORK, United States (AFP) — The global stock rally showed signs of petering out Thursday as oil prices stagnated and analysts expressed worry that another bout of selling could be imminent. After three straight days of solid gains, US stocks closed lower, with the Nasdaq down the most at 1.0 percent. London also lost 1.0 percent with metals and oil equities falling sharply after Wednesday’s bounce. Frankfurt gained 0.9 percent, while Paris edged up […]
RIYADH, Saudi Arabia – It is expected that 50, 000 overseas Filipino workers in Saudi Arabia will be affected by the oil crisis, with the majority working for the two main contractors of construction and industrial projects. According to the Migrante party-list , the government should take action immediately. According to reports, most OFWS in Saudi Arabia are no longer receiving salary and are waiting to be sent back home to the (Eagle News Service […]
TOKYO, Japan (AFP) — Japan swung back to a trade deficit in January as exports to China plunged, official data showed Thursday, underscoring the impact of a slowdown in one of Tokyo’s biggest trade partners. The disappointing figures come after Japan’s economy shrank 0.4 percent in the October-December quarter — or an annualised 1.4 percent drop — owing to weak demand for big-ticket items like cars and home appliances. That was Japan’s second quarterly contraction […]
(LOS ANGELES, California) As part of the agenda of his working visit to the city, President Benigno S. Aquino III on Tuesday met with top executives of three leading global corporations based in Los Angeles. Following his participation in the Special US-ASEAN Summit at Sunnylands in Rancho Mirage, President Aquino and the Philippine delegation traveled to Los Angeles for a two-day working visit. President Aquino began his working visit with a series of business meetings […]
TEHRAN, Iran (AFP) — Iran’s oil minister started talks Wednesday with his Iraqi, Venezuelan and Qatari counterparts as investors watched whether Tehran would follow Saudi Arabia and Russia’s pact to freeze output. Iran returned to the global oil market just weeks ago after sanctions on its energy and banking sector were lifted upon implementation of a landmark deal on its nuclear programme with world powers. The Islamic republic has long said it must pump more oil […]
TOKYO, JAPAN (Reuters) —The negative interest rate set by Japan’s central bank, effective on Tuesday, will add uncertainty to global economy and exert pressure on China’s currency, said economists. The Bank of Japan followed other central banks last month to cut interest rates to minus 0.1 percent to boost economic recovery amid plummeting oil prices and slowing growth in China. The move weakened the yen, which in turn could add pressure on China’s currency […]
TOKYO, JAPAN Japan’s economy contracted an annualised 1.4 percent in the final quarter of last year as consumer spending slumped, adding to headaches for policymakers already wary of damage the financial market rout could inflict on a fragile recovery, Gross Domestic Product (GDP) data showed on Monday (February 15). The data underscores the challenges premier Shinzo Abe faces in dragging the economy out of stagnation, as exports to emerging markets fail to gain enough […]
