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SAN FRANCISCO, United States (AFP) — The global smartphone market has momentum going into the year-end holiday shopping season, according to preliminary figures released Thursday by International Data Corporation (IDC). An estimated 373.1 million smartphones were shipped worldwide during the third quarter of this year in a 2.7 percent rise from the same period in 2016, IDC said in a statement. While IDC analysts considered the growth low, they saw it as a sign “the industry still has […]
NEW YORK, United States (AFP) — The Dow ended at a record high Thursday after President Donald Trump nominated Jerome Powell to lead the Federal Reserve and congressional Republicans unveiled their long-awaited tax cut plan. The Dow Jones Industrial Average gained 0.3 percent to finish at 23,514.81, about 75 points above the prior record set last Friday. The broad-based S&P 500 ended up a hair at 2,579.85, while the tech-rich Nasdaq Composite Index dipped less […]
by Glenn Chapman Agence France Presse SAN FRANCISCO, United States (AFP) — Apple on Thursday reported profits rose on the back of strong iPhone sales in the past quarter, with the US tech giant set to begin selling its newest flagship handset seen as a key to its future. Net profit rose 19 percent from a year ago to $10.7 billion in the fiscal fourth quarter to September 30, Apple said. Revenues were up 12 percent to […]
QUEZON CITY, Philippines (Eagle News) — The Duterte Administration’s economic managers appealed to Congress to pass laws that will modernize the way of doing business in the Philippines. National Economic Development Authority (NEDA) Secretary General Ernesto Pernia said that outdated laws are hindering business in the country, especially in the local government units (LGUs). Some of the proposed measures include a one-stop shop in processing business permits, amendments in the economic provisions of the Constitution, […]
QUEZON CITY, Philippines (Eagle News) — An estimated half a million, or 500,000 new jobs will be created with the $6 billion investment deal from Japan, according to Trade Secretary Ramon Lopez. The trade chief after their successful visit in Japan said that there are 18 Japanese firms that will invest in the Philippines, which include investments in manufacturing, infrastructure, and information and communications technology. The investment deal was sealed during President Rodrigo Duterte’s recent […]
HONG KONG, China (AFP) – Asian stocks edged up Thursday on strong US growth forecasts, as traders braced for a series of key economic announcements. The muted start to trading comes ahead of the US House Republicans’ tax announcement and confirmation of President Donald Trump’s pick for the new Federal Reserve chair, as well as an important Bank of England meeting. Investors in Tokyo and Hong Kong built moderately on overnight gains in most world […]
SYDNEY, Australia (AFP) — Up to 6,000 jobs will be axed in a major restructure at National Australia Bank, the lender said Thursday after posting Aus$5.28 billion (US$4.1 billion) in annual net profits. The positions will go as it further automates and simplifies its business. Some 2,000 new jobs will be created. “This will result in a net reduction in staff currently targeted at approximately 4,000 by the end of full year 2020,” it said. The bank […]
BEIJING, China (AFP) — Chinese factory activity stabilized in October, according to independent data released Wednesday, one day after a disappointing official reading suggested output growth had slowed. The world’s second-largest economy registered 6.8 percent growth in the third quarter of the year, down from 6.9 percent in the first two quarters. But experts have warned of a slowdown ahead as the country tightens financial controls to slow the pace of debt growth and reduces […]
TOKYO, Japan (AFP) — Tokyo shares opened higher on Wednesday, tracking gains on Wall Street with a weaker yen supporting the market, while Sony was set to rally after forecasting record annual profits. The benchmark Nikkei 225 index edged up 0.57 percent, or 126.46 points, to 22,138.07 in early trade while the broader Topix index was up 0.54 percent, or 9.47 points, at 1,775.43. © Agence France-Presse
by Omar Hasan Agence France-Presse DUBAI, United Arab Emirates (AFP) — The International Monetary Fund on Tuesday advised energy-rich Gulf economies to speed up their diversification away from oil after projecting the worst growth for the region since the global financial crisis. Oil exporters in the Middle East, especially those in the Gulf Cooperation Council, have been hit hard by the collapse in crude prices which provided a major part of their finances. Following the […]
by Jung Ha-Won Agence France-Presse SEOUL, South Korea (AFP) — South Korean tech giant Samsung Electronics logged a record profit of 11.2 trillion won — $10.0 billion — in the July to September period, it said Tuesday, its best for any quarter. The world’s biggest memory chip and smartphone maker has had its de facto leader jailed for bribery and faced a recall of its flagship Galaxy Note 7 device. But its net profits soared […]
QUEZON CITY, Philippines (Eagle News) — The Bangko Sentral ng Pilipinas extended the deadline regarding the exchange of old bills, or the so-called “New Design Series” (NDS) banknotes, with the new banknotes or the “New Generation Currency” until December 29 this year. The extension was granted due to numerous requests from the public. This is the fourth extension granted by the BSP. Old bills or the NDS banknotes dating from 1985 were devalued starting January […]
