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HONG KONG, China (AFP) — Asian stocks largely continued a global rally on Tuesday, ahead of the release of key US consumer price data that is expected to show slightly slowing inflation in the world’s largest economy. Stocks rose in Japan, Australia, Singapore and Taiwan, with South Korea and Shanghai also gaining after reopening following a public holiday. European stocks were steady at the open. Hong Kong shares edged lower at the close, erasing […]
HONG KONG, China (AFP) – Asian markets rallied Friday following a healthy performance on Wall Street, with investors largely pricing in more interest rate hikes aimed at taming runaway inflation. The more confident mood was reflected in a dip in the dollar, which has surged in recent weeks to multi-decade highs against its major peers owing to the Federal Reserve’s hawkish tilt to tighter monetary policy. The greenback’s softness came even after Fed chief Jerome […]
LOS ANGELES, United States (AFP) — The United States began a series of meetings with ministers from the Asia-Pacific in Los Angeles on Thursday at an economic summit aimed at countering China’s growing influence in the region. The two-day event is the first face-to-face meeting between members of the new Indo-Pacific Economic Prosperity Framework (IPEF), an initiative launched in May by US President Joe Biden. With this new trade partnership, the Biden administration hopes to […]
NEW YORK< United States (AFP) — US oil prices finished Wednesday at their lowest level since January on growing recession fears, while US stocks rebounded after a weak stretch left the market “oversold,” as analysts put it. Oil prices briefly climbed early on Wednesday as Russia’s President Vladimir Putin said his country would stop delivering oil and gas supplies to countries that introduce price caps. But then oil prices then turned sharply lower, with […]
PARIS, France (AFP) — Russia has raked in a whopping 158 billion euros ($158 billion) in energy exports in the six months following its invasion of Ukraine, with the EU accounting for more than half, a think tank said Tuesday. The Centre for Research on Energy and Clean Air called for more effective sanctions against Moscow after the invasion sent oil, gas and coal prices soaring. “Surging fossil fuel prices mean that Russia’s current revenue […]
PARIS, France (AFP) — The euro sunk below $0.99 on Monday, a 20-year-low, following the announcement last week that Russia would cut off gas deliveries to Germany via the Nord Stream pipeline. The euro fell 0.70 percent to 0.9884 dollars Monday at 0535 GMT, its lowest since December 2002. The European currency has continued to weaken against the dollar since the start of the year, hammered by economic turbulence and uncertainties sparked by Russia’s invasion […]
by Joseph SOTINEL Agence France-Presse LONDON, United Kingdom (AFP) — Cryptocurrency critics, including economists and researchers, will gather in London and online this week to get their message across to regulators about the booming but volatile sector. A number of governments have expressed concerns over cryptocurrencies, but those behind the first Crypto Policy Symposium say they hope the event will prompt much more “critical discourse” of the sector. “There are so many crypto conferences […]
MANILA, Philippines (AFP) — A consortium that includes India’s GMR Group is selling its business developing and operating the Philippines’ second-largest airport for 25 billion pesos ($440.2 million), its Filipino partner announced Friday. The consortium of GMR Group and the Philippines’ Megawide Construction Corp will sell its interests to operate the Mactan-Cebu International Airport to Aboitiz InfraCapital Inc, a unit of a family-owned conglomerate. Megawide said in a disclosure to the local stock exchange […]
LUSAIL, Qatar (AFP) – Technology giant Microsoft announced Wednesday it will create 36,000 jobs in Qatar to boost the Gulf state’s efforts to move away from reliance on its oil and gas industry. Created with support from the Qatar government, the new cloud data centre will be one of the US firm’s biggest international projects. Microsoft Qatar general manager Lana Khalaf said it will help the tiny Gulf state become a “digital hub for the […]
MEXICO CITY, Mexico (AFP) – Mexico will open lithium exploitation to private investors because there are insufficient public funds to develop the recently nationalized sector, President Andres Manuel Lopez Obrador said on Wednesday. “Public funding alone would not be enough. Quite a lot of investment is required,” Lopez Obrador told reporters. Opening the sector to private capital will “have a lot of support. It’s of interest to national and foreign investors,” he predicted. In April, […]
(Eagle News) – ABS CBN Corporation and TV5 Network Inc., said that they have “mutually agreed to terminate” the investment agreement dated August 10, 2022 that covered the proposed acquisition by ABS- CBN of 34.99 percent equity interest in TV5. In a statement, both media companies also announced the termination of the “Convertible Note Agreement” dated August 10, 2022 that covered the “proposed subscription by ABS-CBN to a Convertible Note to be issued by […]
HONG KONG, China (AFP) – Stock markets resumed their downward trend Wednesday, with traders fearing the Federal Reserve’s determination to beat inflation with higher interest rates will tip the world’s top economy into recession. After bouncing from their June lows, global equities are once again taking a hiding from worried investors after Fed chief Jerome Powell warned last week the bank would need to tighten policy much more to succeed in its battle against prices. […]
