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BEIJING, China (AFP) — China’s super wealthy have earned a record $1.5 trillion in 2020, more than the past five years combined, as e-commerce and gaming boomed during pandemic lockdowns, an annual rich list said Tuesday. An extra 257 people also joined the billionaires club in the world’s number-two economy by August, following two years of shrinking membership, according to the closely watched Hurun Report. The country now has a total of 878 billionaires. The […]
SYDNEY, Australia (AFP) — Australia’s unemployment rate rose slightly to 6.9 percent in September, as the coronavirus kept the brakes on hopes of a speedy economic recovery. The country’s statistical agency said Thursday that unemployment grew 0.1 percent from 6.8 percent in August, with around 20,000 more people leaving the workforce entirely. Australia — with a population of 25 million — is experiencing its first recession in almost 30 years. The latest unemployment figures were […]
BEIJING, China (AFP) — The rise in Chinese consumer prices slowed for a second successive month in September, official data showed Thursday, as pork supplies bounce back from the devastating African swine fever while farms recovered from flooding. The consumer price index (CPI), a key gauge of retail inflation, rose 1.7 percent last month from a year ago, compared with a 2.4 percent reading in August, according to the National Bureau of Statistics (NBS). The […]
SINGAPORE, Singapore (AFP) — Singapore’s coronavirus-hit economy shrank at a slower pace in the third quarter as restrictions were eased, official data showed Wednesday, but the trade-reliant city-state still faces a long road to recovery. The financial hub plunged into its first recession since the 2008 global financial crisis in the second quarter when the government closed businesses as part of drastic measures to contain infections. One of the world’s most open economies, Singapore is […]
LONDON, United Kingdom (AFP) — Britain’s unemployment rate has jumped to 4.5 percent as the coronavirus pandemic continues to destroy jobs, official data showed on Tuesday. The reading for the June-August period compared with an unemployment rate of 4.1 percent for May to July, the Office for National Statistic said in a statement. Early estimates for September meanwhile “suggest that there is little change in the number of payroll employees in the UK; up 20,000 […]
WASHINGTON, United States (AFP) — Software giant Microsoft will let employees work from home permanently if they choose to, US media reported on Friday, becoming the latest employer to expand work-from-home provisions prompted by the Covid-19 pandemic. The Verge said most Microsoft employees are still at home as the health crisis drags on, and the company doesn’t expect to reopen its US offices until January of next year at the earliest. But when it […]
by Álvaro VILLALOBOS MADRID, Spain (AFP) — Facing resurgent virus infections, Spain’s government will on Wednesday unveil a recovery plan aimed at yanking the country out of its worst economic slump in decades. The pandemic has pulverized Spain’s tourism-dependent economy, with the government warning Tuesday that GDP would fall by 11.2 percent this year, down from a previous prediction in May for a 9.2 percent decline. It sees the jobless rate jumping to 17.1 percent […]
MANILA, Philippines (AFP) — Philippine Airlines will cut around a third of its workforce by the end of this year as part of an overhaul triggered by crippling coronavirus travel restrictions. The pandemic has devastated the global aviation industry, forcing airlines to seek government bailouts, furlough workers and slash jobs. “The collapse in travel demand and persistent travel restrictions on most global and domestic routes have made retrenchment inevitable,” the airline said Monday, announcing […]
Globe myBusiness recently conducted CONNECT, the online business matching events to help MSMEs recover during the pandemic. The series of runs connected investors, enablers, suppliers, and potential customers online. CONNECT is a platform to establish networking opportunities that help MSMEs bridge the gap between idea and action. Globe myBusiness, through its business solutions, aimed to make these business matching activities create partnerships between ecosystem enablers and MSMEs. “This project was initially an offline event; […]
by Don Orozco EBC Contributing Writer @ Silicon Valley, California The country’s largest business organization, the Philippine Chamber of Commerce and Industry (PCCI) has appointed Enunina Mangio as chair of the upcoming 46th Philippine Business Conference and Expo (PBCE) that will tackle business challenges and solutions to help businessmen amid the virus pandemic. The conference, to be held via ZOOM on October 7 to 8, brings together all the stakeholders of the Philippine business […]
HONG KONG, China (AFP) — US futures sank with most Asian and European equities Friday after US President Donald Trump announced he and his wife had tested positive for coronavirus, throwing fresh uncertainty into the presidential election. The news compounded the downbeat mood on trading floors, where investors were already feeling pessimistic over US lawmakers’ failure to pass a new stimulus bill. “Tonight, @FLOTUS and I tested positive for COVID-19. We will begin our […]
HONG KONG, China (AFP) — Japanese stocks edged up Friday as they reopened after being shut down all the previous day by a technical fault, though markets across Asia were mixed in holiday-thinned trade with investors keeping an eye on stimulus talks in Washington. After September’s sell-off, Wall Street got the new quarter off to a positive start as technology firms appeared to rediscover their mojo, helped by a dip in US jobless claims […]
