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(Reuters) Big job cuts at Microsoft. The world’s largest software company is cutting up to 7,800 positions – most of them in its phone business. This move comes just one year after it launched one of the largest layoffs in tech history – some 18,000 jobs – as it tried to focus on cloud computing and mobile software services. Microsoft will write off $7.6 billion associated with Nokia’s handset unit it bought last year. It’s […]
(Reuters) — Greek pensioners queued outside banks in Athens once again on Wednesday (July 8) to withdraw their pensions as fears grew that the country’s cash reserves would soon run dry. The scenes have been repeated outside 1,000 bank branches across Greece since banks were closed and capital controls imposed on June 29. Banks were only opened during the last week to pensioners who do not have credit or debit cards. Other people stood in […]
(Reuters) — Asian shares fell on Wednesday (July 8) as investors fretted over Greece’s debt crisis and a recent plunge in Chinese stocks, while the euro steadied. Euro zone members gave Athens until the end of this week to propose reform measures in order to secure the funding it needs to stay in the euro zone. Investors nervously awaited the opening of China’s share markets, after they slumped on Tuedsay (July 7) despite a flurry […]
JULY 7 (Reuters) — Greek banks will remain closed on Tuesday (July 6) and Wednesday (July 7) and a daily limit on cash withdrawals will stay at 60 euros, the head of the Greek banking association said. Greek banks were shuttered all last week after the collapse of negotiations on an aid deal and had officially been due to reopen on Tuesday, before Greeks voted resoundingly to reject bailout terms sought by creditors in a […]
MANILA, July 7 (Eagle News) —The National Economic and Development Authority (NEDA) reported that the country experienced the lowest level of inflation in June compared to the last two decades due to sufficient supply of food and moderate price pressures in energy and oil rates. According to the Philippine Statistics Authority, headline inflation rate plunged further to 1.2 percent in June 2015 from 1.6 percent in the previous month, and 4.4 percent in June 2014. […]
(Reuters) Japan said on Saturday (July 3) it would extend around $6 billion in development aid to Mekong region countries, as China prepares to launch a new institutional lender seen as encroaching on the regional clout of Tokyo and ally Washington. Cambodia, Laos, Myanmar, Thailand and Vietnam all have strong economic growth potential, and are promising destinations for Japanese exporters of railway systems, power plants and other infrastructure. Tokyo’s planned assistance of about 750 […]
A RECENT evaluation report of the International Monetary Fund (IMF) had validated the Aquino administration’s transparency agenda as having helped launch reforms in the country, a Palace official has said. The IMF recently gave the Philippines a favorable score on fiscal transparency. In its June 2015 report, the IMF cited the Philippines’ public financial management reform strategy as having helped initiate reforms. The country’s fiscal reporting was recognized by the IMF as being timely, frequent, […]
(Reuters) — Queen Maxima of the Netherlands witnessed the launch of the central bank’s strategy for financial inclusion on Wednesday (July 1), capping her two-day visit to the Philippines. Maxima, who was designated as the UN Secretary General’s Special Advocate for Inclusive Finance for Development in 2009, attended the ceremony of the Philippine government’s action plan which aims to enhance cooperation between ministries, government agencies and the private sector to improve the population’s access to […]
(Reuters) — People on the streets of the Greek capital expressed anger with their government on Wednesday (July 1), the morning after Greece defaulted on a 1.6 billion euro loan from the International Monetary Fund (IMF). Greece’s last-minute overtures to international creditors for financial aid on Tuesday (June 30) were not enough to save the country from becoming the first developed economy to default on a loan with the IMF. The IMF confirmed that Greece […]
MANILA, Philippines, June 30 (Eagle News) — A rollback on the price of petroleum products was implemented by oil companies. For the details of the corresponding price rollbacks, please watch the video. (Eagle News Service Jay Paul Carlos, Jericho Morales, MRFaith Bonalos) https://youtu.be/cLRbtK7g6NE
JUNE 24 (Reuters) — Lychee farming was once seen as one of the most organized sectors in Madagascar, a key pillar of the Malagasy economy. Madagascar is the fifth largest lychee producer in the world, after China, India, Vietnam and Taiwan. But a 2009 coup plunged the country and its economy in turmoil, reversing previous gains made in the lychee industry. Prior to the political crisis, Madagascar used to export an average of more than […]
JUNE 23 (Reuters) — In a year in which Taylor Swift’s star has risen in to the upper stratosphere, her biggest victory may have been watching Apple ‘blink” after the pop star called out the tech giant for its initial policy of refusing to pay artists during free trials of its new Apple Music streaming service. Apple’s change of heart came after the 25-year-old singer posted on Tumblr that she’d hold back her latest hit […]
