Breaking News, Latest Philippines Headlines, World, Entertainment, Politics, Weather & Video News
https://youtu.be/RV7AVJxTqdQ World Bank on 07June issued a new forecast for the global economy, showing that global growth is expected to slump from 5.7 percent in 2021 to 2.9 percent in 2022— significantly lower than the 4.1 percent that was anticipated in January. Compounding the damage from the COVID-19 pandemic, the Russian invasion of Ukraine has magnified the slowdown in the global economy, which is entering what could become a protracted period of feeble growth […]
The EU member states and parliament on Tuesday agreed the text of a law imposing a standard charger for smartphones and tablets sold in the bloc, in a blow to Apple. For most portable devices the requirement for charging via a USB Type-C port will come into effect from late 2024, the European Parliament’s press service said. The EU believes a standard cable for all devices will cut back on electronic waste, but iPhone juggernaut […]
Cash-strapped Sri Lanka is seeking urgent United Nations help to build a stockpile of essential foods, the prime minister’s office said Friday, after authorities warned of looming starvation. Acute shortages of food, fuel and other essential goods, along with record inflation and rolling blackouts, have inflicted widespread misery in the island nation’s unprecedented economic crisis. Scarce supplies of petrol, diesel and fertiliser have made it difficult for farmers to grow crops, while the agricultural sector […]
World food prices fell slightly for the second consecutive month in May but wheat prices rose again as Russia’s war in Ukraine rages on and India banned exports of the commodity, a UN agency said Friday. Russia’s invasion of Ukraine sent food prices to a record high in March as both countries are major exports of agricultural goods, sparking fears of a global hunger crisis. The United Nations Food and Agriculture Organization’s food price index […]
Oil prices rose Thursday even as major crude producers agreed to boost output by more than the usual amount following an EU ban on Russian imports. European shares closed higher, with Paris leading the way at 1.3 percent and Frankfurt rising 1.0 percent. London’s FTSE 100 was shut for a holiday. Wall Street stocks were little changed early on following mixed labour data and a Microsoft earnings warning, but they edged slightly higher in later […]
MOSCOW, Russia (AFP) — Russia’s Gazprom said Wednesday its gas exports to countries outside of the former Soviet Union dropped by more than a quarter year-on-year between January and May after losing several European clients. Exports to countries outside the region totalled 61 billion cubic metres, a 27.6 percent fall from the same period last year, the energy giant said in a statement. Gazprom added that gas deliveries to China via the “Power of Siberia” […]
Russia’s central bank cut its key interest rate Thursday following an emergency meeting, as authorities seek to rein in the ruble which has surged in value despite the conflict in Ukraine. The Bank of Russia slashed the rate to 11 percent from 14 percent, saying external conditions for the economy remained “challenging, considerably constraining economic activity.” The policy-setting meeting was originally set to take place on June 10 but the central bank surprised the market […]
by Beiyi SEOW China’s premier has sounded an unusually stark warning about the world’s second-largest economy, saying it must return to normal as the country’s zero-Covid strategy bites into growth. China is the last major economy welded to a policy of mass testing and hard lockdowns to eliminate virus clusters, but the strict curbs have battered businesses. Restrictions around the nation in recent months — including on the manufacturing hubs of Shenzhen and Shanghai as […]
HONG KONG, China (AFP) — Asian markets posted big early losses Thursday, after Wall Street suffered one of its worst batterings in two years in the previous session. Downcast earnings reports from retailers had exacerbated worries about consumer resilience and corporate profitability Wednesday, sparking a rough day’s trade. On Thursday morning, Hong Kong was down by more than three percent, while Tokyo was down by about 2.5 percent. Among the biggest losers in Hong […]
by Roland JACKSON Agence France Presse Britain’s annual inflation rate surged to a 40-year high last month on rocketing energy costs, official data showed Wednesday, sparking opposition calls for the government to announce an emergency budget to combat a cost-of-living crisis. Consumer prices index inflation hit 9.0 percent in April from 7.0 percent in March, the Office for National Statistics said in a statement. The ONS estimated that April was the highest level since […]
TOKYO, Japan (AFP) — Nissan reported a positive full-year net profit for the first time in three years on Thursday, citing cost-saving efforts and a stronger US market, but issued cautious forecasts. The Japanese auto giant was on a rollercoaster even before the disruption caused by the pandemic and, more recently, the conflict in Ukraine. It had battled slowing demand and the fallout from the arrest of its former chief Carlos Ghosn and is […]
Saudi Aramco on Wednesday dethroned Apple as the world’s most valuable company as surging oil prices drove up shares and tech stocks slumped. The Saudi Arabian national petroleum and natural gas company, billed as the largest oil producing company in the world, was valued at $2.42 trillion based on the price of its shares at close of market. Apple, meanwhile, has seen its share price drop over the past month and was valued at $2.37 […]
