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Oil prices soared on Monday after Russia and Saudi Arabia renewed a pact to cap output, while the US agreed to halt raising tariffs on Chinese imports, stalling a trade row that many feared could hit demand for the commodity. Russian President Vladimir Putin said Saturday he and Crown Prince Mohammed bin Salman “have agreed to extend our agreement” to limit production as prices slump on global markets. An existing deal committing OPEC and non-members […]
NEW YORK, United States (AFP) — The US subsidiary of South Korea’s LG Electronics warned retailers on Wednesday that it will raise prices of its washing machines following import duties imposed by the Trump administration this week. It was the first concrete reaction to the trade measures announced this week that have angered US trading partners. “As a result of the trade situation, we will be initiating pricing actions,” Thomas Yoon, executive vice president of […]
LONDON, United Kingdom (AFP) — OPEC secretary general Mohammed Barkindo welcomed Thursday the rebalancing of the world oil market, hinting the cartel would likely renew its output-cutting deal next month. Barkindo made the comments at the annual Oil & Money conference in London, before the latest production meeting of the 14-nation Organization of the Petroleum Exporting Countries (OPEC) in early November. “There is no doubt that the market is rebalancing at an accelerating pace — […]
PARIS, France (AFP) — French oil company Total said Thursday underlying profits gushed higher in the second quarter thanks to a recovery in the price of oil, with the company also benefitting from increased output. The firm’s measure of adjusted profits that excludes exceptional items climbed 14 percent from the same period last year to $2.5 billion ($2.1 billion euros). That beat the consensus forecast of analysts surveyed by financial data firm Factset, who were […]
TOKYO, Japan (AFP) — Japanese consumer prices picked up in January for the first time in almost a year, official data showed Friday, halting a long string of declines as Tokyo struggles to put deflation in the rear view mirror. A nationwide consumer prices index, which excludes volatile costs of fresh food, rose 0.1 percent from a year earlier, the internal affairs ministry said. The rise was the first uptick in 11 months and ended […]
Oil company Flying V, implements a price rollback of 20 centavos per liter of diesel and kerosene. While the price of their gasoline increased by 20 centavos per liter. Said price change was implemented last midnight.
German luxury car Mercedes-Benz has been found guilty of manipulating prices of after-car services in China but penalties are yet to be imposed.
According to the National Statistics Office, the price of well-milled rice continues to climb despite government efforts to curtail it.
The price of rice recorded an additional 2 pesos per kilo due to a weak harvest brought about by the heat, according to the NFA.
Due to low demand, there is an over-supply of cabbage which caused an extreme dropping o the price of said vegetable, with one kilo selling for 1 peso in La Trinidad.
