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LONDON, United Kingdom (AFP) — Oil prices soared Thursday on tensions surrounding key producer Russia, as equities diverged with traders tracking interest rate decisions, the Ukraine conflict and China’s pledge to support volatile markets. The price of benchmark oil contract, Brent North Sea crude, jumped more than five percent to return above $100 per barrel after Russia rejected a ruling from the UN’s top court to suspend its Ukraine offensive. “Russia’s invasion is still […]
SAN FRANCISCO, United States (AFP) — The Ukrainian government on Monday launched a website in partnership with crypto-firms FTX and Everstake that will funnel donations to Ukraine’s central bank as it combats a devastating invasion by Russia. On the “Aid for Ukraine” website, users can currently offer donations in 10 cryptocurrencies, including Bitcoin, ether, tether and dogecoin. “Cryptocurrencies play a significant role in Ukraine’s defense,” Oleksandre Borniakov, Ukraine’s deputy minister of Digital Transformation, said […]
HONG KONG, China (AFP) — WTI crude dived more than five percent Tuesday to fall back below $100 a barrel as concerns about a possible slowdown in China’s economy lead investors to rethink their expectations for demand. The contract shed 5.7 percent to $97.13, while Brent was off six percent at $100.54. The steep losses come just over a week after they both soared to near 14-year highs as Vladimir Putin’s war in Ukraine fanned […]
NEW YORK, United States (AFP) — US equities suffered in Monday’s trading despite hopes for progress in peace talks between Ukraine and Russia as well as a drop in oil prices fueled by new Covid-19 lockdowns in China. Europe shrugged off earlier losses in Asia after Moscow said it made headway Monday in peace talks with Kyiv ahead of the latest round of negotiations. But Wall Street was generally gloomy, with indices starting positively […]
Airlines and airports called Friday for an end to pandemic measures for European domestic flights as most countries in the region begin to relax requirements to present proof of vaccination and wear masks. “Covid-19, and specifically the Omicron variant, is now pervasive throughout all of Europe, and population immunity is at such levels that the risk of hospitalisation or death has dramatically reduced, especially for vaccinated people,” said joint statement from ACI Europe and IATA. […]
(Eagle News) – Foreign direct investments in the Philippines reached an all-time high of $10.5 billion in 2021 despite the Covid-19 pandemic. The figure breached the previous high of US$10.3 billion in 2017. Malacanang announced this on Friday, March 11, presenting a report by the Bangko Sentral ng Pilipinas. “This growth reflects foreign investors’ confidence in our economy and certainly augurs well in our efforts for a strong economic rebound as we transition to […]
by Juliette MICHEL Agence France Presse NEW YORK, United States (AFP) — US President Joe Biden has ordered the federal government to look into creating a digital dollar, a move with the potential to reshape how money is moved and used around the world. Before his order results in a virtual greenback, there will be numerous major impacts — and risks — to consider first. Here are some key questions: – What form would […]
by Heather SCOTT and Aurelia END Agence France Presse WASHINGTON, United States (AFP) — President Joe Biden on Wednesday ordered government agencies to begin work on creating a digital US dollar, weighing the risks and benefits of a move that could be a game changer for the global financial system. Coming amid the explosive rise of private crypto currencies like bitcoin, the US effort will place “the highest urgency on research and development efforts […]
(Eagle News) – While gasoline stations implemented a huge price increase on its products on Tuesday, March 8, one gasoline retailer company did the opposite after two days – a price slash effective 6 a.m. today, March 10. Petro Gazz Philippines implemented a huge oil price rollback of P5.85 per liter for diesel, and P3.60 per liter for gasoline on Thursday, March 10, which would be effective until Sunday, March 13. The amount is […]
NEW YORK, United States (AFP) — US stocks lost more ground on Tuesday after President Joe Biden imposed a ban on imports of Russian petroleum, and more major firms announced they were shutting operations in Russia. Britain also announced it was phasing out energy purchases from Russia after the invasion of Ukraine, while oil giants Shell and BP, both based in Britain, said they would stop buying Russian oil and natural gas immediately. The […]
HONG KONG, China (AFP) — Asian equities were mixed Wednesday as three days of painful losses gave way to a semblance of stability, though oil prices extended gains after the United States and Britain moved to ban imports of Russian crude. But while the panic selling that characterized markets for two weeks eased, analysts warned of further volatility as Russia showed no sign of letting up on its invasion of Ukraine. The crisis has fuelled […]
The EU wants to vastly reduce Russian gas imports this year, a top official said Tuesday, as political pressure mounts to sever Russia’s main economic lifeline over its invasion of Ukraine. The European Commission, the EU’s executive arm, announced the goal as the United States was expected to impose an oil import ban on Russia in a step considered too far for the Europeans, who fear that the economic consequences would be too severe. […]
