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Mumbai, India (AFP) Apple will manufacture its new flagship smartphone in India, the US tech giant said Monday, as it seeks to diversify production away from a dependence on China. The iPhone supply chain is based mainly in China but the country’s zero-Covid policies and tensions with the United States have hurt production, analysts say. “We’re excited to be manufacturing iPhone 14 in India,” Apple said in a brief statement. The California-based firm already makes […]
Paris, France (AFP) by Ali BEKHTAOUI The world economy will take a bigger hit than previously forecast next year due to the effects of Russia’s war in Ukraine, the OECD said Monday. In a bleak report titled “paying the price of war”, the Paris-based organisation noted that the conflict aggravated inflationary pressure when the cost of living was already rising quickly. Covid outbreaks are still having an impact on the global economy while growth has […]
TOKYO, Japan (AFP) — Inflation in Japan hit 2.8 percent in August, the highest level since 2014, government data showed Tuesday, as soaring energy prices bite. The last time such figures were seen, prices had been artificially bolstered by an increase in VAT. Excluding years when tax hikes impacted the rate, August’s inflation was the fastest pace in nearly 31 years. Data from the internal affairs ministry showed electricity, gas and petrol were among […]
Cites favorable laws for foreign direct investments such as law allowing “full foreign ownership” in telco, transpo services (Eagle News) – Philippine president Ferdinand Marcos Jr., encouraged US investors to try doing business in the Philippines citing the very favorable conditions and conducing environment for foreign investments. Speaking before the New York Stock Exchange (NYSE), the 65-year old Philippine leader cited various advantages of investing in the country, including legislation that allows full […]
Paris, France (AFP) by Coline DACLIN Consumers and businesses around the world are facing steeper prices for everything from Mexico’s beloved tortillas to the aluminium cans used by beer companies. Inflation jumped after countries emerged from Covid lockdowns and it has soared since Russia invaded Ukraine, with the IMF expecting consumer prices to rise by 8.3 percent globally this year. Here is a look at how higher prices are affecting the world: – Fuel […]
Pres. Marcos Jr., to meet with various CEOs, economic partners after UN General Assembly speech (Eagle News) – Philippine president Ferdinand Marcos Jr., said that he expects that the country would “finally begin to emerge” from the difficulties of the pandemic that have hounded the country since 2020. The 65-year old Philippine leader said that he is going to work hard on the country’s economy, which in his view is very much based on agriculture. […]
by Agnes ANYA Agence France-Presse JAKARTA, Indonesia (AFP) — Sitting on the side of a Jakarta road anxiously waiting for his phone to ping, driver Muhammad Ridwan says it is now barely worth hurtling through thick smog every day to ferry passengers. A 30 percent hike in fuel prices spurred hundreds of drivers of the most popular ride-hailing apps to hold protests across Indonesia as they struggle to make ends meet. “I sometimes don’t eat […]
Hong Kong, China (AFP) The amount of vacant top-tier office space has more than doubled in Hong Kong over the last three years as companies downsize operations, researchers have found, warning that demand could remain soft even if pandemic controls are lifted. The data adds to warnings that Hong Kong’s lustre as a business hub has been dulled by political unrest and a subsequent crackdown. Pandemic curbs have also kept the city internationally isolated […]
by Daniel Rook Agence France-Presse MEXICO CITY, Mexico (AFP) — The United States on Monday invited Mexico to join a multibillion dollar push to boost semiconductor manufacturing to compete with China, during a visit by US Secretary of State Antony Blinken for high-level economic talks. Officials set aside trade tensions over Mexican President Andres Manuel Lopez Obrador’s energy policies and focused instead on the potential benefits from cooperation in microchips and other technology. The Chips […]
PARIS, France (AFP) — Blistering crop-withering temperatures that also risk the health of agricultural workers could threaten swathes of global food production by 2045 as the world warms, an industry analysis warned Thursday. Climate change is already stoking heatwaves and other extreme weather events across the world, with hot spells from India to Europe this year expected to hit crop yields. Temperature spikes are causing mounting concern for health, particularly for those working outside in […]
(Eagle News) — Talks are in the works for Indonesia to provide the Philippines with fertilizer and more coal for the country’s agriculture and energy needs respectively. Philippine president Ferdinand “Bongbong” Marcos Jr mentioned this as one of the results of his talks with his Indonesian counterpart President Joko Widodo. Marcos Jr., who is also serving as the secretary of the Department of Agriculture said that he brought up the subject of agriculture as […]
SYDNEY, Australia (AFP) — Australia’s central bank hiked interest rates to a near eight-year high Tuesday as it joins others in trying to bring down sky-high inflation and warned further increases were likely that would hit families’ pockets. The Reserve Bank of Australia lifted borrowing costs 50 basis points to 2.35 per cent, the highest since that start of 2015. The path to bring prices back into balance was a “narrow one and clouded in […]
