Business

Moscow economic forum addresses Russia’s economic woes

An economic forum, known as “Gaidar” opened on Thursday in Moscow to address Russia’s economic woes. With “Russia and the World: Looking into the future” as the theme, the 2016 Gaidar Forum has become one of the most influential platforms since it was opened in 2010. It is an annual event held in mid-January by the Russian Presidency. Addressing the forum, Russian Prime Minister Dmitry Medvedev said that the Russian government is anticipating the worst, […]

IMF looks forward to collaboration with AIIB

The International Monetary Fund (IMF) is looking forward to cooperating with the China-initiated Asian Infrastructure Investment Bank (AIIB), said an IMF official on Tuesday. Chikahisa Sumi, assistant director of the Asia and Pacific Department of the IMF, made the remarks at a forum attended by IMF officials and members of U.S. think tanks in Washington, D.C. “Infrastructure investment need is huge, is simply huge. And then infrastructure investment is very productive investment. And then, it […]

China exports for 2015 fall 1.8 percent, while imports drop 13.2 percent

China said on Wednesday (January 13) its exports for 2015 dropped 1.8 percent while imports dropped 13.2 percent in yuan-denominated terms, both much less than economists had expected but still likely consigning the economy to its weakest annual growth in 25 years. “Exports decreased by 1.8 percent to 14.14 trillion yuan ($2.2 trillion). Imports dropped by 13.2 percent to 10.45 trillion yuan ($1.6 trillion). Trade surplus increased by 56.7 percent to 3.69 trillion yuan ($561 […]

Asia stocks wary as China concerns remain

Asian stocks held near four-year lows and crude oil prices approached a 20 percent drop in less than two weeks as investors worried over the extent of China’s economic slowdown and its impact on emerging markets. MSCI’s broadest index of Asia-Pacific shares outside Japan edged 0.4 percent higher but still stood near a four-year low touched on Monday, and was still down more than 8 percent since the start of 2016. It fell 12 percent […]

Asia shares fall sharply amid China confusion

Asian share markets swept lower Monday (January 11) after Wall Street suffered its worst starting week in history and doubts over Beijing’s economic competence sent investors into the arms of the safe-haven yen and sovereign bonds. The absence of Tokyo for a holiday only made liquidity even harder to come by, heightening volatility. South Korean shares fell, led by concerns about China and caution ahead of earnings later this month. The Korea Composite Stock Price […]

China’s stock markets open high Friday

China’s stock markets opened high on Friday after trading was halted early in the previous day as a seven-percent drop triggered the newly-introduced circuit breaker mechanism. The benchmark Shanghai Composite Index opened up 2.23 percent at 3,194.63 points Friday morning while the smaller Shenzhen index opened at 11,008.89 points, 2.31 percent up. Trading was halted for the day on the Shanghai and Shenzhen stock markets on Thursday morning after shares tumbled over seven percent and […]

Asian shares open calmer after China circuit breaker axed

China’s major stock indexes opened higher on Friday (January 8) after Beijing ditched a circuit breaker mechanism that halted trading twice this week when share prices tumbled and had been blamed for exacerbating the market sell-offs. The People’s Bank of China also raised its guidance rate for the yuan for the first time in nine trading days, having allowed the currency’s biggest fall in five months on Thursday (January 7), sending shivers through regional currencies […]

Oil pares losses after dive toward 12-year low seen too far, too fast

Oil lurched to new 12-year lows before paring some losses on Thursday, with some traders betting a rout triggered by fears over China demand and swelling U.S. stockpiles had run its course, for now. Global benchmark Brent crude fell as much as 6 percent to nearly $32 a barrel, its lowest level since at least April 2004, as another free fall in the Chinese stock market rattled investors already concerned by the world glut in […]

Volkswagen likely to buy back 115,000 cars in U.S

BERLIN   German automaker Volkswagen AG assumes it will have to buy back about 115,000 cars in the United States as a result of the emissions scandal, a newspaper reported on Thursday. Without citing its sources, Germany’s daily Sueddeutsche Zeitung said the company expected it would have to either refund the purchase price of a fifth of the diesel vehicles affected or offer a new car at a significant discount. Volkswagen expects that the rest of […]

YEDW winner empowers the youth and women entrepreneurs

“My biggest dream is for our businesses, which started in Mindanao, to become global, and to find more ways to raise the demand for our products and services so as to increase the number of people we have given livelihood.” The noble statement is from Miss Helen Kaye Layco, a 26-year old young woman, an advocate of women empowerment, an innovative entrepreneur, and a former New Era University student.   She won in the recently concluded […]

Tokyo stocks start the year down

Japanese stocks began 2016 on a lower note on Monday (January 4), playing catch-up to falls in U.S. stocks in the last two sessions during Japan’s market holidays. The Nikkei benchmark started the first trade of the year down 1 percent at 18818.58. The Nikkei gained around 9 percent last year. In May last year, the Nikkei average surpassed 20,000 for the first time in 15 years, and in August the total value of the […]