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PHL posts 5.6 percent overall growth based on GDP for whole year of 2021 (Eagle News) – The Philippine economy grew further last year despite the Covid-19 pandemic and the highly debilitating Delta variant, as gross domestic product posted a growth of 7.7 percent in the fourth quarter. Because of this, the country’s GDP posted an over-all growth of 5.6 percent for the whole year of 2021, according to the latest data from the […]
SEOUL, South Korea (AFP) — South Korea’s economy grew in 2021 at the fastest pace for 11 years thanks to robust exports and strong activity in the service sector, the central bank said Tuesday. The 4.0 percent expansion, which came in line with forecasts, was the best performance since 2010 and came despite the pandemic hurting global supply chains. The strong data will give the Bank of Korea some room to further tighten interest rates […]
LONDON, United Kingdom (AFP) — Consumer goods giant Unilever on Monday revealed ongoing interest in a consumer health care unit jointly owned with pharmaceutical groups GlaxoSmithKline and Pfizer after a bid of £50 billion ($68 billion) was refused. “GSK Consumer Healthcare would be a strong strategic fit,” Unilever said in a statement as it unveiled a strategy update in the wake of the weekend’s takeover news. Unilever said it was “committed to accelerating the company’s […]
PARIS, France (AFP) — The world’s 10 wealthiest men doubled their fortunes during the first two years of the coronavirus pandemic as poverty and inequality soared, a report said on Monday. Oxfam said the men’s wealth jumped from $700 billion to $1.5 trillion, at an average rate of $1.3 billion per day, in a briefing published before a virtual mini-summit of world leaders being held under the auspices of the World Economic Forum. A […]
HELSINKI, Finland (AFP) — Finnish telecoms giant Nokia performed better than expected last year and foresees further growth in 2022 as a supply chain crunch and inflation are set to ease, the network equipment maker said Tuesday. The announcement follows a string of quarterly earnings surprises for the network equipment maker, which last October managed to boost its third quarter profits despite a worldwide shortage of computer chips. The group largely met expectations with 22.2 […]
HONG KONG, China (AFP) — Most Asian and European markets rose Monday as traders brushed off another negative performance on Wall Street as US data showed fewer new jobs than expected were created last month but that wages saw a strong gain, keeping pressure on the Federal Reserve in its battle against inflation. Traders will be keeping a watch on inflation readings out of the United States and China this week as they try to […]
HONG KONG, China (AFP) — Markets struggled in Asia on Wednesday following a tepid lead from Wall Street, with inflation and expected interest rate hikes returning to the key focus of concerns as Omicron fears fade for now. While the new Covid variant continues to spread rapidly around the world, forcing governments to maintain containment measures, its apparently milder symptoms have allowed traders to focus more on future economic policies and plans to rein in […]
HONG KONG, China (AFP) — Asian markets rose Tuesday following a strong lead from yet another record on Wall Street that was fuelled by easing concerns about Omicron and remaining optimism about the economic recovery. While the new Covid variant is spreading like wildfire around the world, it appears to be far less severe than initially feared, raising hopes that the pandemic could be overcome and life return to a little more normality. However, inflation, […]
LOS ANGELES, United States (AFP) — Joel Embiid posted his third career triple double with 31 points, 15 rebounds and 10 assists to power the Philadelphia 76ers past the Houston Rockets 133-113 on Monday. Furkan Korkmaz added 24 points and a career-high 11 rebounds, Isaiah Joe scored 18 points, Seth Curry contributed 15 and Tobias Harris had 14 as the Sixers won their fourth-straight game. Garrison Mathews scored a team high 23 points, while Eric […]
by Joseph SOTINEL LONDON, United Kingdom (AFP) — Major oil-producing countries are expected to maintain on Tuesday their course of modestly boosting output as the rapidly spreading Omicron variant has so far not heavily hit demand. The so-called OPEC+ grouping, including top producers Saudi Arabia and Russia, has withstood pressure to more widely open the taps though high energy prices are fuelling a surge in inflation across the world. The 13 members of the Organization […]
China will end subsidies for electric and hybrid cars at the end of the year, authorities have announced, saying the strength of sales in the sector meant state support was no longer needed. In a statement published Friday, the Ministry of Finance said purchase subsidies would be reduced by 30 percent from the beginning of 2022 before being scrapped completely by the end of the year. “Given the growth of the industry for vehicles with […]
Philippine Airlines has said it has emerged from bankruptcy after a US court approved its plan to slash up to $2 billion in debt and obtain additional capital. The national carrier of the Philippines had filed for bankruptcy in the United States in September, seeking relief from creditors as it tried to survive the devastation unleashed on the airline industry by the coronavirus pandemic. Its court-approved reorganisation plan includes a $2 billion debt reduction and […]
