Tag: economy

Dominguez: Gov’t committed to adhere to rule of law

MANILA – Finance Secretary Carlos Dominguez III reiterated the government’s strong commitment to the rule of law in realizing the Duterte administration’s goal of attacking poverty and promoting a law-abiding society among Filipinos. Responding to the announcement of the Millennium Challenge Corporation (MCC) that it had deferred a vote on the reselection of the Philippines for compact development, Dominguez likewise pointed out that the Philippines had passed 13 out of the 20 country indicators in the latest MCC […]

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Dollar surges, most markets sink on Fed rate call

TOKYO, Japan (AFP) — Tokyo stocks opened higher on Thursday as the dollar soared against the yen in response to the US central bank’s move to hike interest rates. The greenback was trading at a 10-month high of 117.63 yen — a plus for shares of Japanese exporters — after the Federal Reserve deemed the US economy strong enough to absorb higher borrowing costs. It was only the second rate rise in a decade. The […]

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PH trade keeps growth steady in October 2016

MANILA, Dec.12 –Total merchandise trade grew by 5 percent in October 2016, supported by growth in both imports and exports, according to the National Economic and Development Authority (NEDA). Based on a report by the Philippine Statistics Authority, total trade grew to US$11.7 billion in October 2016, with imports growing by 5.9 percent and exports, 3.7 percent. “Total trade was boosted by higher exports and imports to and from Asia and other major markets. For […]

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China’s Jan-Nov. foreign trade down by 1.2 pct to 21.83 trillion yuan

CHINA (CCTV) — China’s foreign trade dropped by 1.2 percent year on year to 21.83 trillion yuan in the first 11 months of this year, according to data released by the General Administration of Customs on Thursday. Of this, export dropped by 1.8 percent to 12.47 trillion yuan and import dropped by 0.3 percent to 9.36 trillion yuan, leaving a surplus of 3.11 trillion yuan, 5.8 percent less. In the month of November, China’s total […]

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The economy: 100 days of the Duterte administration

QUEZON City, Philippines (November 14) – A lot has been said about the state of the Philippine economy after the first 100 days of President Duterte’s Administration. Critics were quick to say that the economy has weakened. Shuli Ren in his article in Barron’s Asia website cited the 0.6% drop in the Philippine Stock Market right after US President Obama cancelled his meeting with President Duterte following Duterte’s harsh remarks after the media asked him what […]

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Japan says economy grows 0.5% in July-September

Tokyo, Japan (AFP) — Japan’s economy grew more than expected in the third quarter as exports offset slack consumer spending, official data showed Monday. The world’s third largest economy expanded 0.5 percent quarter-on-quarter between July and September, for an annualized 2.2 percent expansion in Gross Domestic Product (GDP), the Cabinet Office said. The market had forecast a slower 0.2 percent growth rate, or an annualized expansion of 0.8 percent. Japan’s economy contracted in the last three months […]

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Samsung halts sale, exchange of Note 7 over safety fears

by Giles HEWITT SEOUL, South Korea (AFP) — Samsung told customers worldwide Tuesday to stop using their Galaxy Note 7 smartphones as it struggled to contain a snowballing safety crisis that threatens to derail the powerhouse global brand. The South Korean conglomerate also called a halt to worldwide sales and exchanges of the troubled Note 7s, as the federal US consumer regulator issued an alarming warning of the possible dangers the device posed to its […]

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Clinton, Trump spar over plans for US economy

HEMPSTEAD, United States (AFP) — Hillary Clinton accused Donald Trump of peddling “trumped up trickle down” economics Monday on the presidential debate stage, as the candidates clashed in fiery exchanges over how to create American jobs. “I will bring back jobs. You can’t bring back jobs,” Trump fired at Clinton, as the pair tangled over trade, taxes and government regulations in the opening half of their 90-minute debate. “I know you live in your own reality, […]

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G20 to go long on rhetoric, short on economic policy: experts

by Benjamin CARLSON BEIJING, China (AFP) — G20 leaders will meet in China this weekend in a climate of economic uncertainty and sluggish global growth –- but the absence of an urgent crisis means the forum will be short on breakthroughs, analysts say. Eight years after the first G20 summit in Washington, when countries coordinated a response to the financial meltdown, Beijing has set a modest agenda for the Hangzhou gathering — focusing on making […]

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Clinton, Trump spar over Islamic State claim, economy

by Michael Mathes WASHINGTON, United States (AFP) — Hillary Clinton admonished Donald Trump on Thursday for claiming she and President Barack Obama were the founders of the Islamic State group, as the White House rivals also clashed on plans to improve the US economy. “No, Barack Obama is not the founder of ISIS,” Clinton tweeted as she accused her 2016 election rival of a “smear” against the president. “Anyone willing to sink so low, so […]

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Japan approves huge stimulus for sluggish economy

TOKYO, Japan (AFP) – by Daniel LEUSSINK Japan’s cabinet Tuesday approved a mammoth 28-trillion yen ($273 billion) package in its latest attempt to stimulate lacklustre growth, including cash to improve infrastructure and raise the birthrate in the ageing nation. The stimulus plan announced last week is the latest in a series in recent years designed to fire up the world’s number three economy. “We have been able to put together a strong package that includes bold […]

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Sao Tome and Principe eyes tourism boost to economy

Situated off the Atlantic coast of Africa, the twin archipelago Sao Tome and Principe was once the world’s leading producer of cocoa. Today the island nation is promoting itself as a tourist destination and its numbers of visitors are, slowly, rising. https://youtu.be/yYvOvlPSVFU  

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