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HONG KONG, China (AFP) — Asian markets were mixed Wednesday as investors tried to assess whether the global recovery will be resilient enough to withstand the fast-spreading Delta Covid variant, with optimism being tested by the stuttering rollout of vaccines and a spike in infections in some countries. China’s drive to tighten its grip on the world’s number two economy with a swathe of new regulations for private enterprises is also weighing on sentiment, while […]
Every dish tastes better with a dash of soy sauce, even dessert: that’s the ambitious pitch of Japanese food giant Kikkoman, hoping to persuade Indians to use it in curries, sweets and everything in between. Convincing 1.3 billion people to add a staple of East Asian cuisine to their butter chicken and samosas is no cakewalk but it will likely be easier than the brand’s 1960s push into the United States. “When we entered the […]
HONG KONG, China (AFP) — Bitcoin broke back above $50,000 on Monday for the first time in three months as investors piled back into the cryptocurrency on bargain-buying. The unit climbed around two percent to $50,249.15, its highest since mid-May, when it began tumbling on a range of issues including China’s crackdown on cryptocurrencies and Tesla boss Elon Musk’s decision to stop accepting it on concerns about the environmental impact of mining. The electric car […]
The Taliban now hold the keys to an untouched trillion-dollar trove of minerals including some that could power the world’s transition to renewable energies, but Afghanistan has long struggled to tap its vast deposits. The Taliban are already in a financial bind since they returned to power 20 years after their ouster, as major aid donors halted their support for Afghanistan. Endless wars and poor infrastructure have prevented the country from getting its hands on […]
LONDON, United Kingdom (AFP) — Britain’s unemployment rate dipped in the second quarter on reopening of the economy that has resulted in record-high vacancies, official data showed Tuesday. While the number of payroll employees has surged, it remains below the pre-pandemic total, the Office for National Statistics added. The unemployment rate eased to 4.7 percent in the second quarter from 4.8 percent in the three months to the end of May, the ONS said in […]
HONG KONG, China (AFP) — Asian markets were broadly down Tuesday as investors weighed record gains on Wall Street against fears the resurgent Delta coronavirus variant may put the brakes on the global economic recovery. Major US indices rebounded overnight from a slow start as bargain hunters stepped up purchases — leaving both the Dow and S&P 500 finishing narrowly positive to extend a streak of record-high closes to a fifth straight day. Buoyed by […]
HONG KONG, China (AFP) — Asian markets fell Friday as a broadly positive week drew to a close with investors pricing in the likelihood that Federal Reserve officials will start withdrawing the vast financial support put in place at the start of the pandemic. The fast-spreading Delta virus variant, which is forcing governments to introduce containment measures, and the Chinese government’s campaign to tighten its grip on the world’s number two economy were also playing […]
by Heather SCOTT WASHINGTON, United States (AFP) — US consumer prices jumped again in July, as spiking gasoline prices continue to fuel inflation, prompting the White House on Wednesday to call for oil producers to open the taps to boost supply. However, overall inflation came in at a slower pace than the prior month as some impacts of the pandemic shutdowns appeared to dissipate, according to government data released Wednesday. President Joe Biden hailed the […]
HONG KONG, China (AFP) — Asian and European markets were mixed Wednesday as investors assess the impact of the fast-spreading Delta variant and the future of Federal Reserve financial support against expectations that the global economy will eventually recover from the pandemic crisis. News that US President Joe Biden’s $1.2 trillion infrastructure spending bill had finally passed the Senate provided some cheer, though analysts said it would likely be some time before it gets through […]
SINGAPORE, Singapore (AFP) — Singapore on Wednesday upgraded its growth forecast for this year as the trade-reliant economy’s key export markets pick up strength thanks to rapid coronavirus vaccine rollouts. The prosperous city-state, one of the world’s most open economies, suffered its worst ever recession last year as it was hammered by the pandemic. But stronger overseas demand is helping to power a rebound, which is being closely watched as Singapore is seen as a […]
Growth in 2nd quarter fastest in more than three decades MANILA, Philippines (AFP) — The Philippine economy grew in the second quarter at its fastest pace in more than three decades, but an official warned Tuesday of “speed bumps” as coronavirus restrictions were tightened to combat surging infections. Gross domestic product expanded 11.8 percent on-year, the statistics agency said, after five straight quarters of contraction. The increase — the best since the last three […]
OTTAWA, Canada (AFP) — Canada’s economy created 94,000 jobs in July and the unemployment rate fell to 7.5 percent as Covid-19 restrictions were eased, Statistics Canada reported Friday. This 0.3 percentage point drop followed a decline of 0.4 points in June, and increases in April and May. The jobless rate peaked at 9.4 percent in January of this year, the agency said. Long-term unemployment remained higher than in February 2020 before the pandemic and accounted […]
