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by Aurélia END Agence France Presse PARIS, France (AFP) – IMF boss Christine Lagarde faced a grilling Tuesday, the second day of her trial, over the “colossal” damages payout authorised for a tycoon while she was French finance minister. Presiding judge Martine Ract Madoux forced the head of the International Monetary Fund on the defensive as she questioned why 45 million euros ($48 million) had been paid to Bernard Tapie in compensation. These so-called “moral […]
HAVANA, Cuba (AFP) — Cuba signed a deal with Google Monday to enable faster access to content from the US tech giant on the communist island, where internet service is notoriously limited and slow. Eric Schmidt, executive chairman of Google parent company Alphabet, signed the deal in Havana alongside the head of Cuban state telecommunications company Etecsa, Mayra Arevich. Under the deal, Cuba will gain access to a network called Google Global Cache, which stores content […]
BEIJING, China (AFP) — China’s industrial output and retail sales growth both accelerated in November, government data showed Tuesday, in a sign of stabilisation for the world’s second-largest economy. Industrial output rose 6.2 percent in the month, ahead of both October’s figures and economists’ predictions of 6.1 percent in a Bloomberg News survey. Retail sales rose 10.8 percent on-year in nominal terms, up from 10.0 percent in October, while fixed-asset investment, a gauge of infrastructure spending, […]
SINGAPORE , Singapore (AFP) — Oil soared Monday following a landmark deal by Russia and other non-OPEC producers to join the cartel in capping output, in a bid to end a stubborn global glut that has hammered prices. In a bid to reverse a dramatic fall in income, Russia and 10 other non-OPEC states on Saturday said they will reduce their production by more than half a million barrels per day (bpd), the Organization of […]
(Eagle News) — Ipinagmalaki ni Department of Tourism (DOT) undersecretary Ronaldo Alan Canizal ang patuloy na pagtaas ng tourist arrival sa bansa. Ayon kay Canizal, pinakamaraming dayuhan na bumisita sa bansa ay mula sa Korea, Amerika, China, Japan At Australia. Umabot na rin sa P178 billion-pesos ang naging income ng bansa mula sa nasabing mga turista mula pa noong Enero hanggang sa kasalukuyan. Target din ng DOT na umabot sa 6 million ang tourist arrival […]
by Dario THUBURN LONDON, United Kingdom (AFP) — McDonald’s will move fiscal headquarters for the majority of its non-US operations to Britain, it said Thursday, following an EU crackdown on tax deals struck by multinationals including the fast-food giant. McDonald’s is establishing a new Britain-based holding company to cover royalties from most licensing agreements outside the United States, shifting its tax base from Luxembourg. The profits will be subject to British tax, McDonald’s said in […]
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 […]
MOSCOW, Russia (AFP) – by Gabrielle Tétrault-Farber The Kremlin on Wednesday said that Russia had finalised a deal to privatise 19.5 percent of state-owned oil giant Rosneft. Rosneft chief Igor Sechin informed President Vladimir Putin “about the completion of a privatisation deal of 19.5 percent of shares of the largest Russian oil company Rosneft,” Kremlin spokesman Dmitry Peskov told reporters. He added that its investors were the Glencore Consortium and Qatar’s sovereign fund and that […]
SHANGHAI, China (AFP) — Apple has blamed “external physical damage” for causing a handful of iPhones to explode or catch fire in China and insisted that its handsets posed no safety problem. Fresh on the heels of Samsung’s worldwide Galaxy Note 7 safety fiasco, a Shanghai consumer watchdog said last Friday it had received eight recent reports of iPhones that spontaneously combusted while being used or charged. In a statement to AFP late Tuesday, the […]
TOKYO, Japan ( AFP ) — Tokyo stocks opened higher on Wednesday following another record close on Wall Street after Paris stocks reached the year’s highest level and Italian banks surged. Tokyo’s benchmark Nikkei 225 index rose 0.40 percent, or 73.45 points, at 18,433.99 in the first few minutes of the trade, while the broader Topix index of all first-section issues was up 0.45 percent, or 6.63 points, at 1,483.83.
by Rob Lever WASHINGTON, United States (AFP) — The US Supreme Court on Tuesday overturned a $399 million patent infringement penalty imposed on Samsung for copying Apple’s iPhone design, in a case watched for its implications for technology innovation. The shorthanded justices ruled 8-0 that Samsung should not be required to forfeit the entire profits from its smartphones for infringement on design components, sending the case back to a lower court. While the ruling was […]
(Eagle News)– The Senate has approved the Articles of Agreement of the Asian Infrastructure Investment Bank (AIIB), with a vote count of 20-1, paving the way for the country’s membership to the China-led international financial institution. Senator Loren Legarda, sponsor of the Committee Report on the AIIB treaty, said the Philippines’ membership to the AIIB would help the country to achieve growth through accelerated infrastructure spending. “Infrastructure bottlenecks have stifled our growth potential for […]
