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TOKYO, Japan (Reuters) — Asian stocks posted their biggest rise in two weeks on Tuesday (December 6) as investors judged the selloff after Italy’s referendum was overdone, with robust U.S. economic data also helping sentiment. Japan’s benchmark Nikkei average opened up 1.00 percent at 18,457.20 on Tuesday, while the broader Topix gained 0.98 percent to 1,481.35. Hong Kong Hang Seng index opened up 0.8 percent, standing at 22694.27 points. South Korea climbed 1 percent in […]
NEW YORK, United States (AFP) — The New York Times has seen an exceptional surge in digital subscriptions in the period just before and after the November election, its top executive said Monday. New York Times Co. chief executive Mark Thompson told a business conference the prestigious daily has added more than 200,000 net subscribers since late September. “We’re seeing a dramatic increase in the willingness to pay for serious independent journalism,” Thompson told the […]
GENEVA, Switzerland (AFP) — Nestle has said it has discovered a way to cut the amount of sugar that goes into its Kit Kat, Butterfinger and other candy bars, but without affecting the taste. The Swiss food giant’s scientists say a breakthrough will allow the company to cut sugar content by up to 40 percent. Sweetness of chocolate and other confectionery products will be unchanged. “Our scientists have discovered a completely new way to use […]
NEW YORK, United States (AFP) — Starbucks chief executive Howard Schultz will step aside as CEO but remain with the company as chairman, the coffee giant said Thursday in a surprise announcement that sent the share price down after hours. Schultz, who helped grow Starbucks from a sleepy chain in Seattle to an iconic global brand, will stay on as executive chairman and chairman of the board. The change is effective April 3. He will hand the reins […]
(Reuters) — The first of its kind in eight years: OPEC finally agreed to cut output. Taking the biggest hit: OPEC’s largest pumper, Saudi Arabia. It’ll account for nearly half of the cartel’s deal to curb output by 1.2 million barrels a day from the current 33.6 million barrels. What’s more, non-OPEC producers, like Russia, agreed to reduce output as well. Combined, the cuts will amount to two percent of global production. “This is a […]
MANILA, Dec. 1 – The Gross Domestic Product (GDP) grew year-on-year by 7.1 percent in the third quarter of 2016. This growth is driven by Manufacturing, Trade, and Real Estate, Renting and Other Business Activities. This is higher than the growth rates of 7.0 percent in the second quarter of 2016 and 6.2 percent in the third quarter of 2015. Among the major sectors, Services posted a growth of 6.9 percent in the third quarter of 2016, lower than the 7.2 percent growth in the previous […]
GENEVA, Switzerland (AFP) – by Ben Simon Subsidies given by the US state of Washington to Boeing are illegal, the World Trade Organization said Monday, in a victory for rival aircraft maker Airbus and the European Union. The ruling from a WTO panel is the latest blow in a drawn out trans-Atlantic battle between the aviation industry’s two titans, which has seen both Airbus and Boeing score points along the way. The WTO said that […]
ALGIERS, Algeria (AFP) — Volkswagen on Sunday signed a deal with its Algerian sales partner Sovac for the construction of a vehicle assembly plant in the North African country, officials told a news conference. Under the deal, worth $170 million (160 million euros), the plant will produce its first car in June 2017 and is expected to increase output to more than 100 vehicles a day. The assembly line will be built in Relizane, 320 […]
HONG KONG, China (AFP) — Asian markets headed into the weekend on a positive note Friday, with Tokyo again propelled by the weaker yen but the dollar edged back slightly in the afternoon following its recent surge against global currencies. With traders confident the Federal Reserve will hike interest rates before year-end, the dollar is cruising along, hitting record highs against India’s rupee and the Turkish lira and touching multi-month highs elsewhere. The advance […]
MEXICO CITY, Mexico (AFP) — The Mexican currency broke the 21 peso per dollar psychological barrier again on Thursday in the wake of Donald Trump’s US election victory as fears persist about his protectionist policies. Analysts say the peso is also affected by the prospect of an interest rate hike by the US Federal Reserve in December. The currency of Latin America’s second biggest economy traded hands at 21.05 pesos for every dollar, dropping 0.48 […]
HONG KONG, China (AFP) — The dollar barrelled ever higher Thursday, sitting at an eight-month high against the yen and fuelling another rally in Tokyo stocks but traders in most other markets turned cautious. US investors gave their Asian colleagues another strong lead with the Dow hitting a new record on Wall Street after fresh data showed further improvement in the US economy and reinforced expectations for an interest rate hike next month. Global markets […]
Chile vows to strengthen trade with China in the face of protectionist threats from US President-elect Donald Trump, during an official visit of the Asian giant’s president Xi Jinping. https://youtu.be/E4AeLn8_ORo
