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HONG KONG, China (AFP) — Asian markets on Monday extended last week’s rally as a solid US jobs report boosted optimism in the world’s top economy, fuelling a record close on Wall Street. With sentiment still strong following Donald Trump’s decision to meet North Korean leader Kim Jong Un in an unprecedented summit to discuss its nuclear programme, equities were on the up. The upbeat developments helped temper worries about Trump’s announcement of steel and […]
SYDNEY, Australia (AFP) — Australia’s central bank chief Wednesday slammed Donald Trump’s decision to levy steel tariffs as “bad policy” and warned of “a very big shock” to the global economy if it sparks retaliation. The US president plans to impose a 25 percent tax on imported steel and 10 percent on aluminium in a move that has raised fears of a trade war. It led to the White House’s top economic advisor, Gary Cohn, […]
HONG KONG, China (AFP) — Steel and aluminum producers across Asia sank Friday on news of Donald Trump’s controversial tariffs, though some analysts said the long-term effects on the sector might not be as bad as thought. The president said Thursday he would slap levies of 25 percent on steel and 10 percent on aluminum imports, delivering an election campaign promise to put “America First” and protect US jobs from what he claims are […]
TOKYO, Japan (AFP) — Japan’s jobless rate stood at 2.4 percent in January, the lowest in nearly 25 years, official data showed Friday, a major boost for the world’s third-largest economy. The figure — the lowest since April 1993 when the rate hit 2.3 percent — comes as Japan has notched up eight straight quarters of economic growth, the longest positive run since the “bubble” boom days of the late 1980s. Japan’s government and central […]
MANILA, Philippines (Eagle News) — Nasa P3.5 bilyon piso ang nawawalang oportunidad sa Metro Manila kada araw dahil sa lumalalang sitwasyon ng trapiko. Ito ang inihayag ng Japan International Cooperation Agency (JICA) batay na rin sa ginawang Transport Infrastructure Roadmap Study para sa Metro Manila. Sinabi ni JICA Philippines Chief Representative Susumi ito, “Mas malala ngayon ang traffic sa Metro Manila kaya naman suportado ng JICA ang “Build, Build, Build” infrastructure program ng administrasyon.” Sa […]
NEW YORK, United States (AFP) — Stock markets wavered on Wednesday on surprisingly strong American inflation data, but rallied to finish higher in both Europe and the US. European equity markets briefly tumbled into the red, as the US pricing data fueled expectations that borrowing costs might be ramped up more aggressively than previously thought. US stocks also sold off, opening lower, but soon moving into positive territory and finishing solidly higher. The S&P 500 gained 1.3 percent […]
TOKYO, Japan (AFP) — Japan’s economy grew for the eighth straight quarter at the end of 2017, government data showed Wednesday, its longest period of expansion since the “bubble” boom days of the late 1980s. Gross domestic product figures fell short of expectations and represented a slowdown from the previous quarter, but analysts forecast continued growth nonetheless. GDP expanded just 0.1 percent in the last quarter of 2017, the Cabinet Office said, a far cry from the […]
by Douglas Gillison © Agence France-Presse WASHINGTON, United States (AFP) — President Donald Trump on Monday unveiled an ambitious proposal to renew American infrastructure as part of a budget that calls for a stunning rise in debt and trillions in cuts to the social safety net and other spending. The blueprint for the 2019 fiscal year abandons the long-held Republican goal of balancing the federal budget within a decade, with deficits projected to peak in 2020 and […]
SYDNEY, Australia (AFP) — Australia’s central bank on Tuesday kept interest rates at a record low in its first meeting of the year, with inflation still soft and the outlook for household spending uncertain. The Reserve Bank of Australia has not adjusted rates since August 2016, following a series of cuts from November 2011 that took it to 1.50 percent in a bid to boost non-mining sectors of the economy. Governor Philip Lowe said in […]
WASHINGTON, United States (AFP) — The White House said Monday that President Donald Trump was focused on the long-term health of the economy, claiming the fundamentals were “exceptionally strong,” despite a strong market sell-off. Wall Street stocks endured a brutal first session of the week, with the Dow seeing its steepest ever one-day point drop, wiping 4.6 percent off the value of America’s 30 largest companies. “The president’s focus is on our long-term economic fundamentals, […]
by Ben Dooley Agence France-Presse BEIJING, China (AFP) — British Prime Minister Theresa May arrived in China on Wednesday as she seeks to bolster her country’s global trade links ahead of its contentious divorce with the European Union. May began her visit in the central industrial city of Wuhan and will be in China until Friday in what the Chinese foreign ministry has touted as a “historic visit.” Later on Wednesday, May will head to […]
NEW YORK, United States (AFP) — US private equity giant Blackstone has agreed to pay $17 billion for a majority stake in the financial services unit of Thomson Reuters, according to a joint statement issued Tuesday. The deal would give Blackstone a controlling stake in the unit that delivers financial research and other tools to market professionals through dedicated terminals and subscription services. Blackstone would get a 55 percent stake in the Finance & Risk […]
