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by Heather SCOTT WASHINGTON, United States (AFP) — US consumer prices jumped again in July, as spiking gasoline prices continue to fuel inflation, prompting the White House on Wednesday to call for oil producers to open the taps to boost supply. However, overall inflation came in at a slower pace than the prior month as some impacts of the pandemic shutdowns appeared to dissipate, according to government data released Wednesday. President Joe Biden hailed the […]
SINGAPORE, Singapore (AFP) — Singapore on Wednesday upgraded its growth forecast for this year as the trade-reliant economy’s key export markets pick up strength thanks to rapid coronavirus vaccine rollouts. The prosperous city-state, one of the world’s most open economies, suffered its worst ever recession last year as it was hammered by the pandemic. But stronger overseas demand is helping to power a rebound, which is being closely watched as Singapore is seen as a […]
BEIRUT, Lebanon (AFP) — Lebanese lined up in long queues Tuesday to stock up on cooking gas following warnings of imminent shortages, as an economic crisis eats away at supplies of basic imports. Lebanon, grappling with an economic crisis branded by the World Bank as one of the planet’s worse since the mid-19th century, has been hit in recent months by a wave of shortages of basic items from medicine to fuel. Liquefied petroleum gas, […]
OTTAWA, Canada (AFP) — Canada’s economy created 94,000 jobs in July and the unemployment rate fell to 7.5 percent as Covid-19 restrictions were eased, Statistics Canada reported Friday. This 0.3 percentage point drop followed a decline of 0.4 points in June, and increases in April and May. The jobless rate peaked at 9.4 percent in January of this year, the agency said. Long-term unemployment remained higher than in February 2020 before the pandemic and accounted […]
WASHINGTON, United States (AFP) — The recovering US economy added 943,000 new jobs in July, according to government data released Friday, as hard-hit industries continued to return to normal. The result was shy of the million jobs some economists had been expecting, but enough to push the unemployment rate down a half a point to 5.4 percent, the Labor Department reported. With widespread vaccinations allowing economic activity to return to normal, hiring has begun to […]
JAKARTA, Indonesia (AFP) — Indonesia’s economy bounced back in the second quarter to post its first growth in more than a year, but analysts warned the recovery might be short-lived as Covid-19 surges. Southeast Asia’s largest economy grew by 7.07 percent in the April-to-June quarter compared with the same period last year, the Central Statistics Agency (BPS) said Thursday. The figure is higher than a projection by the Central Bank of Indonesia, which predicted growth […]
Financial analyst Astro Del Castillo gives his analysis of the so-called “Dutertenomics” in this interview during the Eagle News Service program “Balitalakayan” on July 26, 2021 aired on NET25. He gives a positive review of the economic policies of President Rodrigo Duterte, saying that there were many reform measures beneficial to the health and socio-economic reform of the country that were passed under his government. The massive infrastructure campaign under the “Build, Build, Build” […]
LONDON, United Kingdom (AFP) — Britain’s annual inflation rate has soared close to a three-year peak as consumer prices accelerated on easing virus curbs, official data showed Wednesday. The Consumer Prices Index hit 2.5 percent in June, which was the highest rate since August 2018 and compared with a 2.1 percent gain in May 2021, the Office for National Statistics said in a statement. Inflationary pressures were partly stoked by the temporary impact of rising […]
by Heather SCOTT WASHINGTON, United States (AFP) — The United States saw its biggest surge in inflation in more than a decade last month, according to government data released Tuesday, hitting consumers and challenging the White House and Federal Reserve narrative that the price spike will fade in the coming months. As widespread Covid-19 vaccinations allowed the world’s largest economy to relax pandemic restrictions, Americans have resumed spending and traveling but have faced rising prices […]
PHUKET, Thailand (AFP) — Thailand prepared Wednesday to reopen the holiday hotspot of Phuket to tourists quarantine-free, even as the country registered its highest single-day death toll from Covid-19. High hopes have been pinned on the so-called “Phuket sandbox” — a model that will allow vaccinated travellers to visit without a quarantine period in an effort to revive Thailand’s battered tourism industry. But the lead-up to its July 1 launch has been plagued with uncertainty […]
SEOUL, South Korea (AFP) — Kim Jong Un has admitted that North Korea’s food situation is “tense”, state media reported Wednesday, sounding the alarm in a country that suffered a devastating famine in the 1990s in which hundreds of thousands died. The impoverished country, which is under multiple sets of international sanctions over its nuclear weapons and ballistic missile programmes, has long struggled to feed itself, suffering chronic food shortages. And last year the coronavirus […]
by Heather SCOTT WASHINGTON, United States (AFP) — Fueled by widespread Covid-19 vaccinations in advanced nations, the world economic recovery has picked up speed, but the upbeat outlook obscures a worrying picture in poor nations, the World Bank said Tuesday. The global economy is now expected to grow 5.6 percent this year, 1.5 points faster than projected in January — the fastest post-recession bounceback in 80 years, according to the latest Global Economic Prospects (GEP) […]
