BRUSSELS – The European Commission adopted its first GSP Monitoring report to the European Parliament and the Council, including an assessment of Philippines’ implementation of 27 International Conventions, on human rights, labour rights, environment and governance. Preferential imports to the EU amount to over €50 billion in 2015 and the Philippines is increasing its share following its successful application and subsequent granting of “GSP+” preferential treatment on 24 December 2014. In 2014, the Philippines exported […]
Business
Lower food, non-food prices pull down inflation in January 2016
MANILA, Feb. 7 — Slower price adjustments in both food and non-food items pulled down inflation to 1.3 percent in January 2016 from 1.5 percent in the previous month, according to the National Economic and Development Authority (NEDA). Inflation for the food subgroup slowed down as prices of fish, fruits, vegetables, milk, cheese, and eggs became stable. “Good weather conditions at the onset of 2016 allowed prices of these food items to stabilize. This was an […]
Inflation rate drops to 1.3%
MANILA, Philippines – According to the National Economic and Development Authority, the country’s inflation rate dropped to 1.3% this January due to the low food prices as well as the drop of oil prices in the world market. (Eagle News Service Described by Jay Paul Carlos, Video Editing by Dexter Magno/Aniway Acosta and Uploaded by Vince Alvin Villarin)
Mark Zuckerberg, fourth richest man in the world
According to the Bloomberg Billionaire’s Index, 31-year old Mark Zuckerberg, Chief Executive Officer of social networking giant Facebook, is the fourth richest man in the world, with a net worth of $50 billion. (Eagle News Service Described by Jay Paul Carlos, Video Editing by Dexter Magno, Uploaded by MRFaith Bonalos)
Asia stocks subdued before US jobs data
Asian equities were subdued on Friday (February 5) and the dollar wobbled ahead of the closely watched U.S. jobs report, which could provide clues on the Federal Reserve’s monetary policy outlook. The markets will look to the U.S. jobs data for direction, with the employment report expected to how employers adding 190,000 jobs in January, the median estimate of 108 economists polled by Reuters. Japan’s benchmark Nikkei stock average was down 1 percent despite an […]
Yahoo to cut 15 percent of workforce
(Reuters) — Yahoo Inc., said on Tuesday (February 02) it was exploring strategic alternatives in addition to the continued pursuit of the reverse spin-off of its Internet business. The company also said it would cut about 15 percent of its workforce and close offices in five locations. Shares of Yahoo, which also reported fourth-quarter results, fell 1.4 percent in after-hours trading on Tuesday. The company said it would simplify its product portfolio and that […]
PHL jumps six notches in 2016 US economic freedom report
MANILA, Feb. 2 (PNA) — The Philippines has jumped six notches in a Washington-based think-tank’s annual economic freedom report, improving its ranking from 76th to 70th place this year, an embassy report said Tuesday. Heritage Foundation reaffirmed economic freedom in the Philippines and recognized notable success in monetary freedom and management of public finance. The 2016 Index of Economic Freedom continued to grade the economies of 186 countries based on 10 independent factors called Economic […]
PHL’s economic freedom improves anew in ’16
MANILA, Feb. 2 (PNA) — The Philippine government on Tuesday hailed another improvement on the country’s ranking on the 2016 Index of Economic Freedom after reaching the 70th place against 178 countries, up from 76th last year. US-based think tank Heritage Foundation said economic freedom in the country is now “moderately free” after getting a score of 63.1 percent out of 100 points. Improvement of the country’s ranking is among the best in the past […]
China’s stock market fluctuations squeeze country’s army of granny investors
Chinese markets have had a bumpy start to the new year. Buffeted by the falling yuan and two days of stock exchange suspensions at the start of the month, the fluctuations have left the country’s legions of retail investors on edge. Unlike many western markets, where institutional investors like insurance and pension funds dominate, 80 percent of transactions in China’s markets are made by small investors. Many of them are retirees like He Meizhen, a […]
Phl economy growth of 5.8% in 2015, below earlier growth target
(Eagle News) — The Philippine economy grew 5.8 percent in 2015, which was below the earlier government growth target of 7-8 percent. “The acceleration of growth from the first quarter to fourth quarter has been very encouraging, bringing the average full-year growth to 5.8 percent. Though this is lower than what we targeted for the year, this growth is respectable given the difficult external environment, the onset of El Nino, and the challenges in […]
Facebook shares soar as mobile drives big jump in ad sales
Facebook Inc smashed investors’ expectations with a 52-percent jump in quarterly revenue as it sold more ads targeted at a fast-growing number of mobile users, sending its shares sharply higher after hours. The world’s biggest online social network bucked the trend of underwhelming tech results from Apple Inc and eBay Inc, in the face of economic uncertainty around the world and a strong U.S. dollar depressing the value of overseas sales. Facebook’s dominance in mobile […]
World Bank lowers 2016 outlook for oil to 37 U.S. dollars per barrel
THE World Bank cut its 2016 forecast for crude oil prices to 37 U.S. dollars per barrel and foresaw other commodity prices to shed further this year due to weak demands from emerging economies. In its latest Commodity Markets Outlook report, the bank said the lower forecast reflects sooner-than-anticipated resumption of exports by Iran, greater resilience in U.S. production and weak growth prospects in major emerging market economies. Oil prices fell by 47 percent […]
