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WASHINGTON, United States (AFP) — Oil majors have raised gasoline prices for the sake of their own profits, US President Joe Biden said Tuesday as his administration looked for ways to lower prices at pumps nationwide at the beginning of the holiday travel season. The White House has upped the pressure on oil markets amid a spike in energy prices that has driven overall US inflation to record levels. Biden had earlier in the day […]
by Kyoko HASEGAWA TOKYO, Japan (AFP) — Japanese Prime Minister Fumio Kishida announced a record $490 billion stimulus for the world’s third-largest economy Friday as he looks to shore up the country’s patchy pandemic recovery. The 56 trillion yen injection, the third since the Covid crisis struck last year and expected to be approved by the cabinet later in the day, “is enough to deliver a sense of safety and hope to the Japanese people”, […]
TOKYO, Japan (AFP) — Japan’s core consumer prices rose slightly year-on-year in October for the second month running, driven in part by higher fuel prices, government data showed Friday. The core consumer price index, which excludes volatile fresh food prices but includes fuel costs, was up 0.1 percent in October, tracking the same rise in September and in line with economist expectations. The second monthly rise follows 18 months of declines or stagnation during the […]
ZURICH, Switzerland (AFP) – The top international banking supervisory authority on Tuesday said lenders should account for climate risks when managing their business, suggesting a list of 18 “principles” to guide banks and national supervisors. Banks should “consider the potential impacts of climate-related risk drivers on their individual business models and assess the financial materiality of these risks,” the Basel Committee on Banking Supervision said in a consultation document. The BCBS is charged with creating rules […]
BANGKOK, Thailand (AFP) — Thailand’s economy shrank in the third quarter, official data showed Monday, but hopes for a gradual recovery are picking up following this month’s return of foreign tourists after the kingdom’s reopening. The country last year suffered its worst performance since the Asian financial crisis of 1997 with a 6.1 percent economic contraction. The Office of the National Economic and Social Development Council (NESDC) said gross domestic product shrank 0.3 percent year-on-year […]
TOKYO, Japan (AFP) — Japan’s economy shrank far more than expected in the three months to September, as a surge in virus cases hit spending and supply chain issues hampered business, data showed Monday. The world’s third largest economy shrank 0.8 percent quarter-on-quarter, much worse than the 0.2 percent economists had forecast. The contraction was driven in part by a 1.2 percent dip in household consumption that tracked the imposition of a virus state of […]
(Eagle News) — Below is the full joint statement of the economic managers of the administration of President Rodrigo Duterte on the Philippine Economic Performance of the Third Quarter of 2021 issued on Nov. 9, 2021 President Duterte’s economic managers include Socio-Economic Planning and National Economic and Development Authority (NEDA) chief Karl Kendrick T. Chua, Finance Secretary Carlos G. Dominguez, and Budget And Management Officer-In-Charge Tina Rose Marie L. Canda ===================================================== Colleagues in government, friends […]
MANILA, Philippines (AFP) — The Philippine economy grew more than expected in the third quarter, the government said Tuesday, as a rebound in consumer spending overcame pandemic lockdowns and other restrictions to rein in the fast-spreading Covid delta variant. Gross domestic product expanded 7.1 percent, according to the Philippine Statistics Authority, better than the 4.9 percent predicted in a Bloomberg survey and following a blockbuster 12 percent rate in the previous three months. The […]
by Jerome TAYLOR Hong Kong’s decision to descend deeper into international coronavirus isolation as rivals reopen is causing consternation among managers at multinationals who see no end to a zero-Covid strategy imposed by a leadership beholden to Beijing. The southern Chinese business hub has kept the coronavirus at bay thanks to some of the world’s strictest quarantine rules with most arrivals undergoing 14 to 21 days of hotel confinement. Competitors such as London, New York, […]
NEWHAVEN, United Kingdom (AFP) — As a row over post-Brexit fishing rights between Britain and France escalated on Thursday, British fishermen complained they were being worn down as their livelihoods were forgotten during the standoff. In Newhaven on Britain’s southern coast, the fishing town’s main quay was almost deserted as a week of bad weather forced the local fleet, comprised of small trawlers, to remain in harbour. But amid threats from Paris to target British […]
TOKYO, Japan (AFP) — Japan’s core consumer prices edged up 0.1 percent in September, the first increase since March 2020 partly due to a rise in fuel prices, official data showed Friday. The latest figure was in line with market expectations, and comes after August’s prices were unchanged year on year, ending a run of 12 consecutive monthly declines. Core consumer prices — which exclude volatile fresh food — had been trimming the pace of […]
by Layal Abou Rahal Agence France-Presse BEIRUT, Lebanon (AFP) – By challenging Lebanon’s national passion for automobile ownership, and driving growing numbers towards greener or more collective transport, the economic crisis is succeeding where everything else failed. In the absence of a functioning public transport system, car culture has thrived and many households, even modest ones, boast multiple vehicles. Since 2019, however, an ever worsening financial crisis has made petrol unaffordable for many and long […]
