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by Heather SCOTT WASHINGTON, United States (AFP) — The world’s largest economy staged a solid recovery last year as it grew at the fastest pace since 1984, but damage from the Omicron variant of Covid-19 is imminent. Surging prices continue to pose a challenge, as inflation picked up speed in the final three months of the pandemic’s second year, according to official data released Thursday. That threatens to dampen the consumer demand that has underpinned […]
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 […]
PERU (AFP) – Teams of workers raced Wednesday to clear mud and debris from the only transport access to the jewel of Peru’s tourism sector, Machu Picchu, following torrential rain in the Andes. Heavy downfalls on Friday caused the Alcamayo river that runs through the small tourist town of Machu Picchu Pueblo — at the foot of the mountain that boasts the world famous Inca citadel — to burst its banks. Almost 900 tourists were […]
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 […]
BEIJING, China (AFP) — Chinese President Xi Jinping warned on Monday that confrontation between major powers could have “catastrophic consequences” in a speech to world leaders at an all-virtual Davos forum. For the second year in a row the face-to-face gathering of political and corporate power players in the Swiss Alps has had to go online thanks to a coronavirus pandemic that shows no sign of abating. Xi opened proceedings with a speech much like the […]
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 […]
BANGKOK, Thailand (AFP) — Thailand will introduce a $9 entry fee for foreign visitors from April, officials said Wednesday, even as the kingdom seeks to lure travellers back and repair its Covid-battered tourism sector. Strict entry rules imposed to curb the pandemic hammered Thailand’s crucial tourism industry last year, contributing to the economy’s worst performance in more than 20 years. The new 300 baht ($9) charge will be incorporated into airfares, government spokesman Thanakorn Wangboonkongchana […]
by Rigoberto DIAZ HAVANA, Cuba (AFP) — Cubans are no strangers to queuing for everything from bread to toothpaste, often standing for hours under a blazing sun with no access to a toilet or drinking water, and always with the fear of leaving empty-handed. It is a daily ordeal Cubans have endured for about 60 years of communist rule, now worsened by the coronavirus pandemic, a steep economic downturn and tightened US sanctions. “I spent […]
by Darko DURIDANSKI with Lajla VESELICA in Brestovac Agence France-Presse VALANDOVO, Republic of North Macedonia (AFP) – Abandoned shops and mostly empty streets offer few signs of life in North Macedonia’s Valandovo, where young people are fleeing in large numbers hoping to find a better life abroad. Like much of this impoverished corner of southeastern Europe, this tiny Balkan nation is sitting on a demographic time bomb fuelled by an ageing population, sinking birth rate […]
SINGAPORE, Singapore (AFP) — Singapore’s economy grew 7.2 percent last year, rebounding from its worst recession since independence sparked by the coronavirus pandemic, government data showed Monday. The city-state plunged into its worst economic performance in 2020 as businesses and international borders shut down, choking its trade and tourism economic lifeline. Authorities initially imposed tough measures to restrict movement and gatherings but later shifted to a policy of living with the virus as the majority […]
TOKYO, Japan (AFP) — Japan’s core consumer prices rose 0.5 percent year-on-year in November, the third monthly increase after two modest hikes of 0.1 percent driven partly by higher fuel prices, government data showed Friday. The advances follow 18 months of declines or stagnation during the depths of the pandemic, and Friday’s reading beat economist expectations of a 0.4 percent rise. The core consumer price index, which excludes volatile fresh food prices but includes fuel […]
by Ferdinandh Cabrera Agence France-Presse GENERAL LUNA, Philippines (AFP) – Resort and bar owners on a Philippine island popular with surfers and tourists were expecting a bumper Christmas holiday after Covid-19 restrictions finally eased. Then Super Typhoon Rai wiped them out. The strongest storm to hit the archipelago this year cut a swathe through Siargao, a tropical paradise known for its sandy beaches, big waves and relaxed vibe. Packing wind speeds of 195 kilometres (120 […]
