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by Sara HUSSEIN Agence France Presse TOKYO, Japan (AFP) — The yen sank to a fresh 24-year low against the dollar on Thursday, with the greenback surging to nearly 146 after Japan’s central bank left its ultra-loose monetary policy unchanged, a day after the Federal Reserve ramped up interest rates and warned of more to come. The yen has taken a beating in recent months as the Japanese central bank hews to a decade-old policy […]
HONG KONG, China (AFP) — Stocks fell Wednesday ahead of what many expect to be a third successive jumbo rate hike by the Federal Reserve, while the dollar hit fresh multi-decade highs against the pound and euro after Russia stepped up its war in Ukraine. Equities around the world have been clattered by fears of a recession in major economies as central banks ramp up borrowing costs to combat the highest inflation in decades, which […]
by Roland JACKSON Agence France Presse NEW YORK, United States (AFP) — Stocks retreated Tuesday as investors awaited an announcement by the US Federal Reserve on its next interest rate hike, with an increase also expected this week from the Bank of England, as both countries aim to tackle soaring inflation. The Swedish central bank meanwhile unveiled its biggest rise in three decades earlier in the day, ramping up its policy rate by a […]
KYIV, Ukraine (AFP) — McDonald’s in Kyiv re-opened on Tuesday for the first time since Russia’s invasion, a sign that life was returning to normal in the capital after nearly seven months of war. The US burger chain said in a statement earlier that “after talks with Ukrainian officials, security specialists and suppliers” it would re-open at first for delivery only. A queue of delivery company employees formed outside one of restaurants waiting to collect […]
Strengthening aviation, energy sector a priority, says PHL president (Eagle News) – President Ferdinand Marcos Jr., held a series of meetings with American private companies in New York, including top managers of aerospace firm Boeing, and two energy and fuel firms. Marcos Jr., met with top executives of NuScale Power, an American energy company founded in 2007, and with WasteFuel, a California-based company which produces renewable fuels through proven technologies. After that, he met […]
TOKYO, Japan (AFP) — Inflation in Japan hit 2.8 percent in August, the highest level since 2014, government data showed Tuesday, as soaring energy prices bite. The last time such figures were seen, prices had been artificially bolstered by an increase in VAT. Excluding years when tax hikes impacted the rate, August’s inflation was the fastest pace in nearly 31 years. Data from the internal affairs ministry showed electricity, gas and petrol were among […]
(Eagle News) – The Philippine peso plunged to a new record low against the US dollar at P57.43 on Friday, September 16. The previous lowest closing of the peso was recorded on Sept. 8 when the peso went down to P57.18 to a US dollar. According to data from the Bankers’ Association of the Philippines (BAP), intraday trading saw the peso even going as low as P57.44 against the dollar. It settled at P57.43 […]
JAKARTA, Indonesia (AFP) — Indonesia has launched an anti-trust investigation into Google over the tech firm’s insistence that its payment system be used for purchases from its app store, authorities said Thursday, accusing it of unfair business practices. The US internet giant has been under legal scrutiny in a number of countries over its stipulation that its billing system be used by all buyers on Google Play. Authorities in Jakarta said in a statement […]
London, United Kingdom (AFP) British energy giant Shell announced Thursday that chief executive Ben van Beurden will step down at the end of the year to be replaced by renewables director Wael Sawan. Van Beurden, who will have been at the helm for nine years, will be succeeded by the head of integrated gas, renewables and energy solutions, Shell said in a statement. The outgoing CEO “can look back with great pride on an extraordinary […]
Luxembourg, Luxembourg (AFP) — The European Union’s second-highest court on Wednesday overwhelmingly upheld the EU’s record fine against Google over its Android operating system for mobile phones, slightly reducing the fee for technical reasons. In a statement, the EU’s General court said it “largely confirms the commission’s decision that Google imposed unlawful restrictions on manufacturers of Android mobile devices” in order to benefit its search engine. The court, however, said the fine should be slightly […]
BERLIN, Germany (AFP) — Lufthansa said Wednesday the German state had sold the stake it took in the airline as part of a rescue package at the peak of the Covid pandemic, and booked a healthy profit in the process. In the spring of 2020, borders were shutting worldwide, forcing airlines everywhere to ground planes and put staff put on forced leave. To save Lufthansa from bankruptcy, the German government took a 20-percent stake in […]
Seoul, South Korea (AFP) A South Korean court issued an arrest warrant Wednesday for the founder of the failed Terra cryptocurrency, which collapsed earlier this year, wiping out about $40 billion of investors’ money. Do Kwon, the 31-year-old South Korean who is the founder of Terraform Labs, is believed to be in Singapore, where he last month gave his first media interview since the collapse admitting that he was “wrong”. The prosecutors’ office on Wednesday […]
