HONG KONG, China (AFP) — Most Asian markets were higher Tuesday on the first trading day of the year, continuing their trajectory from the end of a volatile 2016. Overall, world markets ended last year in the black despite shock votes in Britain and the United States. But Shanghai was the exception with a slump of more than 12 percent and Japan’s Nikkei posted only modest gains. However Chinese stocks finished solidly higher Tuesday after […]
Business
Big oil companies hike prices on Jan. 3
MANILA, Philippines (Eagle News) — Oil firms welcomed the new year by increasing their pump prices. Flying V, PTT Philippines, Pilipinas Shell Petroleum, Phoenix Petroleum Philippines, Unioil and Seaoil said the cost of gasoline increases by Php 0.70 centavos per liter and diesel by Php 0.60 centavos per liter starting Tuesday, January 3. Flying V, Petron and Shell also announced that the price of kerosene is up by Php 0.55 centavos per liter.
New York Governor Andrew Cuomo Hints at Free Tuition
Governor of New York, Andrew Cuomo, peaked the interest of many on January 3rd with the suggestion of a proposal that would cover tuition prices at public universities and colleges in New York State for families earning up to $125,000 by 2019. “College is a mandatory step if you really want to be a success,” the Democratic governor said as he announced the plan, which requires approval by the state’s legislature. About 70 percent of […]
China to ban ivory trade by end of 2017
PEKIN, China (AFP) — China will ban all ivory trade and processing by the end of 2017, the government said, in a move hailed by conservationists as a “game changer” for African elephants. African ivory is highly sought after in China, where it is seen as a status symbol, with prices for a kilo (2.2 pounds) reaching as high as $1,100. “To better protect elephants and better tackle the illegal trade… China will gradually stop […]
China’s foreign trade picks up steadily in 2016
CCTV – China’s foreign trade has been picking up steadily in 2016, data from China’s General Administration of Customs (GAC) shows. GAC statistics shows that China’s foreign trade dropped 8.1 percent and 1 percent in the first quarter and the second quarter respectively, while the figure increased 0.6 percent in the third quarter and kept picking up in the last quarter. “China’s import and export has been picking up quarter by quarter. The total amount of […]
Tokyo follows Wall Street fall as Toshiba stocks plunge again
HONG KONG, China (AFP) — Tokyo followed Wall Street lower Thursday and oil edged down from recent highs as Toshiba’s stock plunged for the third straight day. The Dow receded after nearing the historic 20,000 benchmark with shares of some banks falling more than one percent after the stock prices had won outsized gains in the rally seen since US election day. Tokyo saw the biggest fall in Asia-Pacific Thursday with Japanese stocks down one […]
Meralco energizes 26,321 households as of December
TAGUIG CITY, Dec. 28 – MANILA ELECTRIC Co. (Meralco) has energized 26,321 households as of mid-December, a figure which includes the 2,661 service areas identified by the Energy department where marginalized customers badly needed electricity. Meralco said since July 8, it had brought electricity to 1,246 homes in Gaya-gaya in San Jose del Monte, Bulacan. In Manila, the distribution utility energized seven households in Isla Puting Bato, 443 in Happyland/Aroma, 621 in Parola, and 258 in […]
Panama bars Odebrecht from tenders after bribe allegations
PANAMA CITY, Panama (AFP) — Panama’s government on Tuesday said it was barring the Brazilian construction giant Odebrecht from future public tenders after the US Justice Department accused the company of bribes to secure business in Latin America. In a statement read by the minister of the presidency, Alvaro Aleman, the government said it has decided to “adopt the actions necessary to prohibit the Odebrecht Group being awarded and attributed any future contract from public […]
Toshiba shares fall 10% on nuclear business loss reports
TOKYO, Japan (AFP) — Shares in Toshiba dived more than 10 percent Tuesday on reports it is likely to record a huge special loss related to a US subsidiary’s acquisition of a nuclear power service company. Toshiba shares traded 10.4 percent lower at 397.10 yen in morning trading, paring an earlier loss of as much as 16.3 percent. The company is expected to report a roughly 100 billion yen ($850 million) one-time loss for the […]
BMW to recall nearly 200,000 cars in China
German luxury carmaker BMW will recall nearly 200,000 vehicles in China because of flawed airbags, according to the country’s quality regulator and the company. Some 168,861 imported cars produced between December 2005 and December 2011, and 24,750 vehicles produced locally between July 2005 and December 2011 will be recalled, according to a statement posted Friday on the official website of China’s General Administration of Quality Supervision, Inspection and Quarantine (ASDIQ). Gas generators in the […]
BSP expects higher inflation rate in 2017-2018
QUEZON City, Philippines – The Bangko Sentral ng Pilipinas forecasts an increase of 3.3% in the inflation rate in 2017 and an increase of 3% in the inflation rate in 2018. The higher inflation rate is due to the oil price hike in the world market.
Unemployment rate drops this year
QUEZON City, Philippines – Due to the continuous economic growth experienced by the Philippines, the country’s unemployment rate drops to 5.5% compared to last year’s 6.3%. https://youtu.be/72FpyRwZik0
