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KUWAIT CITY, Kuwait (AFP) — Oil markets have already begun to rebalance after strong signs that producers are complying with output cuts, Kuwait Oil Minister Essam al-Marzouk said on Wednesday. “We are confident that rebalancing in the oil markets has already started,” Marzouk said. “We expect a positive impact on the market by the end of the first quarter of 2017,” he told a conference organised by Petroleum Intelligence. Marzouk said that signs indicate that […]
OTTAWA, Canada (AFP) — After Donald Trump formally withdrew the United States from the Trans-Pacific Partnership on Tuesday, Canadian Prime Minister Justin Trudeau said his Pacific trade focus will turn to Japan and China. “We have long been proponents of trade,” Trudeau told a press conference. “That’s why we are busy on multiple trade fronts at the same time.” He noted last year’s start of talks with Japan on improving trade ties, while next […]
by Glenn CHAPMAN Agence France Presse SAN FRANCISCO, United States (AFP) — A federal appeals court on Tuesday reaffirmed Microsoft’s legal right to refuse a US government order to hand over data stored overseas in a case with important privacy implications. A divided panel of judges in New York denied a petition by the US for a rehearing of a ruling last year in a case pitting Microsoft against the government over data stored in […]
by Hwang Sunghee Agence France Presse SEOUL, South Korea (AFP) — Samsung Electronics’ profits leaped in the fourth quarter, it said Tuesday, despite the humiliating Galaxy Note 7 recall that hammered the reputation of the world’s largest smartphone maker. The South Korean tech giant took another blow when prosecutors began investigating its involvement in a corruption scandal, which has seen the country’s president impeached, and sought the arrest of the firm’s de facto leader Lee […]
NEW YORK, United States (AFP) — McDonald’s reported slightly lower fourth-quarter earnings Monday as strong sales in Britain, Japan, China offset a drop in the United States. The fast-food giant, which modified its menu in its home market after a lengthy slump, and restructured its international business, said its turnaround remained on track. The weaker performance in the US was due partly to more difficult year-over-year comparisons in late 2016 after the iconic chain unveiled the […]
SAN FRANCISCO, United States (AFP) — A charitable foundation backed by Mark Zuckerberg and his wife said Monday it has bought a Canadian artificial intelligence startup as part of a mission to eradicate disease. The Chan Zuckerberg Initiative did not disclose financial terms of the deal to acquire Toronto-based Meta, which uses AI to quickly read and comprehend scientific papers and then provide insights to researchers. Meta capabilities will be unified in a tool made […]
by Andrew BEATTY Agence France-Presse WASHINGTON, United States (AFP) – President Donald Trump moved Monday to pull the United States out of the Trans-Pacific Partnership, making good on a pledge to scrap a deal he denounced as a “job killer” and a “rape” of US interests. Embarking on his first full week in office, the 45th US president began rolling out his policy agenda after a tumultuous first weekend for his administration by signing a […]
WASHINGTON, UNITED STATES (AFP) — US President Donald Trump pledged Sunday to begin renegotiating the North American Free Trade Agreement in upcoming talks with the leaders of Mexico and Canada. “We’re meeting with the prime minister of Canada and we will be meeting with the president of Mexico, who I know, and we’re going to start some negotiations having to do with NAFTA,” Trump said while addressing White House staff on his second full […]
TOKYO, Japan (Reuters) — Japan’s Nikkei dropped 1.3 percent on Monday (January 23) as investors were on the defensive over worries about President Donald Trump’s protectionist policies which outweighed optimism that he will follow through on promises of tax cuts and other stimulus. The benchmark Nikkei average was at 18938.45 down 199.46 yen at the beginning of the trade on Monday. South Korean stocks opened slightly higher with the Korea Composite Stock Price Index (KOSPI) up […]
TOKYO, Japan (AFP) — Tokyo stocks opened lower on Monday with a strong yen pushing exporters down while investors waited to see details of the new US president’s economic policies. The benchmark Nikkei 225 index lost 0.99 percent, or 189.64 points, to 18,948.27 in the first few minutes while the Topix index of all first-section issues was down 1.04 percent, or 15.89 points, to 1,517.57. © 1994-2017 Agence France-Presse
by Hla Hla HTAY and Caroline HENSHAW Agence France-Presse Mount Kyaikhteeyoe, Myanmar (AFP) — Under the shadow of Myanmar’s famed “Golden Rock” punters haggle for the latest traditional medicine cure — slices of skin from the country’s fast disappearing wild elephants sold for a few dollars a square inch. A set of stairs winds behind one of the Buddhist country’s most holy sites to a maze of shops openly selling everything from pieces of ivory and […]
by Glenn CHAPMAN SAN FRANCISCO, United States (AFP) — Apple on Friday sued Qualcomm, accusing the California chipmaker of abusing its market power to demand unfair royalties, echoing charges filed days earlier by US antitrust regulators. Tech giant Apple said in the court filing that it has been overcharged “billions of dollars” by its chipmaking partner’s “illegal scheme.” The company also claimed Qualcomm owes it a billion dollars but is refusing to pay in retaliation […]
