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NEDA chief says P38 trillion lost during the pandemic (Eagle News) – The Philippine government is confident that the economy would further bounce back with the implementation of Alert Level 1 in 39 areas of the country, including the capital region of Metro Manila. National Economic and Development Authority (NEDA) Secretary Karl Kendrick Chua said that some P3.8 trillion were lost during the pandemic, and with the Alert Level 1 implementation in the country, […]
PARIS, France (AFP) — France said on Tuesday that Western sanctions against Moscow over its invasion of Ukraine will cause the Russian economy to collapse. “We will bring about the collapse of the Russian economy,” Finance Minister Bruno Le Maire told the Franceinfo broadcaster a day after France, the EU and others said they would impose a new round of sanctions on Russia. “The economic and financial balance of power is totally in favour of […]
Washington said the penalties will be severe, and will have lasting impact on Russia’s economy, even though the tried to “mitigate” costs on American and European consumers, who already face rising oil prices. Here are the highlights of the measures: – Hitting major banks – The Treasury added five more Russian banks to the sanctions list including country’s the two largest, both majority owned by the government, although each faced penalties with differing severity. Sberbank, […]
IMF Managing Director Kristalina Georgieva on Thursday warned the conflict in Ukraine will have repercussions for the global economic recovery. Following Russia’s invasion of its neighbor, Georgieva said she was “deeply concerned,” and cautioned that the fighting “adds significant economic risk for the region & the world.” The International Monetary Fund continues to assess the economic impact, but will “stand ready to support our members as needed,” she said on Twitter. The Washington-based crisis lender […]
Oil surged past $105 per barrel and equities tumbled Thursday after key crude producer Russia sent forces into Ukraine, accelerating fears of a major war in eastern Europe. Asian and European stock markets nosedived — with Frankfurt shedding five percent in mid-afternoon trading — as investors fled risky equities, while haven investment, gold, rose to just over $1,955 per ounce. After weeks of warnings from the United States and other powers, Russian President Vladimir Putin […]
BANGKOK, Thailand (AFP) — Thailand’s economy rebounded in the fourth quarter of last year on the back of rising exports and the easing of coronavirus restrictions that allowed tourists to return, senior officials said Monday. The 1.9 percent on-year expansion was more than double what was forecast and marked a strong bounce after a 0.2 percent contraction in the previous three months. For the whole year the economy grew 1.6 percent, according to the National […]
LONDON, United Kingdom (AFP) — The UK’s unemployment rate remained steady at the end of last year despite the emergence of the Omicron variant of the coronavirus, official data showed on Tuesday. The figure stood at 4.1 percent in the three-month period ending in December, the same as the previous quarter, according to the Office for National Statistics. The rate was lower than the period ending in September when it was at 4.3 percent, but […]
PHL unemployment rate at 6.6 percent in December from 6.5 percent in November 2021 (Eagle News) – The number of unemployed persons in December hit 3.27 million, higher by 113,000 compared to the previous month’s numbers, the Philippine Statistics Authority (PSA) said on Thursday, February 10. In fact, “the unemployment rate in the country slightly picked up in December 2021 at 6.6 percent from the 6.5 percent reported in November 2021,” according to the PSA. […]
by Haitham El-Tabei Agence France-Presse JIZAN, Saudi Arabia (AFP) – For Farah al-Malki, growing coffee plants in Saudi Arabia’s southwestern region of Jizan is more than just a profession. It is a family tradition passed down from generation to generation. The 90-year-old patriarch has a long history with coffee, which spread from Ethiopia to Yemen and then to the rest of the Middle East around the 15th century. “My father inherited it from his grandfathers, […]
WASHINGTON, United States (AFP) — Democrats introduced a short-term bill on Monday to fund the US government ahead of a potential shutdown next week, when federal agencies run out of previously allocated money. Shutdowns typically lead to hundreds of thousands of government workers being sent home, while parks, museums and other federal properties and services are closed. With funding running out on February 18, President Joe Biden’s Democrats and opposition Republicans had been unable […]
by Yann SCHREIBER Agence France-Presse CHAK TWENTY-SIX SP, Pakistan (AFP) – Agriculture entrepreneurs are bringing the digital age to Pakistan’s farmers, helping them plan crops better and distribute their produce when the time is right. Until recently, “the most modern machine we had was the tractor”, Aamer Hayat Bhandara, a farmer and local councillor behind one such project told AFP in “Chak 26”, a village in the agricultural heartland of Punjab province. Even making mobile […]
KUALA LUMPUR, Malaysia (AFP) — Devastating floods that hit Malaysia in recent weeks caused about $1.4 billion in losses, with widespread damage to homes, businesses and factories, the country’s statistics department said on Friday. Heavy monsoon rains triggered the country’s worst flooding in years from mid-December to early January, with about 50 people killed and 125,000 forced from their homes. The disaster caused losses amounting to 6.1 billion ringgit ($1.45 billion), the government’s statistics […]
