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by Shingo Ito Agence France-Presse TOKYO, Japan (AFP) – Japan bounced back to growth following its first contraction in two years, official figures showed Friday, but fears of US trade wars clouded the outlook for the world’s third-largest economy. The economy grew 0.5 percent quarter-on-quarter in the April-June period, compared with a 0.2-percent decline in January-March, according to data from the Cabinet Office. The growth figure — annualised at 1.9 percent — was better than […]
SEOUL, South Korea (AFP) – Samsung Electronics on Tuesday reported a 0.1 percent dip in its second quarter net profit from a year earlier, blaming slower sales of smartphones and display panels for the drop. Net profit for the April to June period came in at 11.04 trillion won ($9.9 billion), slightly lower than the 11.05 trillion won in the same period in 2017, the company said in a regulatory filing. Operating profit was 14.87 […]
by Barnaby Chesterman Agence France Presse BUENOS AIRES, Argentina (AFP) — Group of 20 members pleaded on Sunday for increased dialogue to defuse escalating trade tensions that could hit global economic growth hard. Finance ministers and central bankers from 20 leading economies closed a two-day meeting in Buenos Aires warning that “heightened trade and geopolitical tensions” threaten the economic expansion. It comes at a time when US President Donald Trump’s protectionist policies have provoked […]
SEOUL, South Korea (AFP) — North Korea saw its economy contract 3.5 percent last year – its worst showing in two decades – as it was hit by sanctions over its weapons programs, the South’s central bank said Friday. It was a sharp reversal from 3.9 percent growth in 2016, according to the Bank of Korea (BOK). The UN Security Council last year banned the North’s main exports — coal and other mineral resources, fisheries […]
SEOUL, South Korea (AFP) — North Korean leader Kim Jong Un berated officials during inspections of a factory, power station and holiday camp, state media reported Tuesday, with analysts saying the reports show nuclear-armed Pyongyang’s desire to focus on economic development. “Field guidance” visits by the leader are the mainstay of the North’s state media output, with Kim regularly shown giving “on-the-spot guidance” to attentive officials, their notebooks in hand. After his latest tour to […]
BEIJING, China (AFP)–Chinese growth slowed slightly in the second quarter as the world’s number two economy faced a snowballing trade fight with the United States. The economy expanded by 6.7 percent in April-June, down from 6.8 percent in the first quarter and in line with a 6.7 percent rate tipped in an AFP survey of economists. Despite the quarterly deceleration, growth was still higher than the annual target of around 6.5 percent set by […]
PORT-AU-PRINCE, Haiti (AFP) — Embattled Haiti Prime Minister Jack Guy Lafontant resigned on Saturday following deadly violence and looting sparked by a now-abandoned plan to raise fuel prices. “I submitted my resignation to the president of the republic,” who has “accepted my resignation,” Lafontant said in the lower house of Haiti’s legislature. Lafontant had faced a potential vote of no confidence had he not resigned — something he had previously insisted he would not […]
by Carlos Batista Agence France-Presse HAVANA, Cuba (AFP)– Cuba on Tuesday reauthorized private businesses after a year-long freeze, but with tighter controls than before on a segment of the economy that now makes up 13 percent of the Communist island’s workforce. The freeze had led to jitters among would-be entrepreneurs in Cuba’s budding private sector, and Tuesday’s announcement brought some measure of relief. The official daily Granma said the new, stricter measures were necessary because […]
TOKYO, Japan (AFP) — Tokyo stocks opened lower on Wednesday as worries about a trade war resurfaced after the United States announced a new list of Chinese export goods subject to tariffs. The benchmark Nikkei 225 index fell 0.84 percent, or 187.00 points, to 22,009.89 in early trade while the broader Topix index was down 0.70 percent, or 12.08 points, at 1,704.05. “Sales are seen dominating after US trading in after hours saw declines following […]
TOKYO, Japan (AFP) — Tokyo stocks opened higher on Monday, extending rallies in New York with the cheaper yen also supporting the market. The benchmark Nikkei 225 index edged up 0.23 percent, or 51.08 points, to 21,839.22 in early trade while the broader Topix was up 0.34 percent, or 5.75 points, at 1,697.29. “After gaining in early trade, the Tokyo market today could lose a sense of direction” as positivity generated by rallies last week […]
SEOUL, South Korea (AFP) — South Korean telecom giant Samsung Electronics on Friday flagged a 5.2 percent rise in second quarter operating profit from a year earlier, missing analyst estimates. Operating profit is expected to come to 14.8 trillion won ($13.2 billion) for the April-June period, higher than the 14.07 trillion won in the same period in 2017, but down from the record 15.64 trillion won of the previous quarter. The forecast came at the low end […]
(Eagle News) – The national government has spent P281 billion on infrastructure in the first five months of 2018 which was 42 percent higher than the same period last year. This was announced by the Department of Finance which has expressed confidence in the economy expanding by 7 percent or better over the medium term. Finance Secretary Carlos Domimguez III said that with the P281 billion invested on infrastructure from January to May this […]
