Breaking News, Latest Philippines Headlines, World, Entertainment, Politics, Weather & Video News
TOKYO, Japan (AFP) — The parent company of Japan’s All Nippon Airways on Wednesday cited “terrorist incidents” in Europe and earthquakes at home for helping drag its April-June net profit down more than a fifth. ANA Holdings posted net profit of 6.6 billion yen ($65.8 million) for its fiscal first quarter, 20.7 percent lower than the same period last year, adding that a strong yen also took a bite out of its bottom line. The […]
by Jennie MATTHEW NEW YORK, United States (AFP) — US fashion house Calvin Klein on Tuesday announced the appointment of former Christian Dior designer Raf Simons as its new chief creative officer, with his debut collections set for the fall 2017 season. The appointment of the 48-year-old design heavyweight, effective immediately, will see the Belgian lead the creative strategy of the brand globally, including its clothing, underwear, jeans and home furnishings. “As part of his […]
MANILA, Philippines (AP) — Global shares were mostly lower Tuesday, as a Japanese stimulus package and a decision by Australia’s central bank to cut its key interest rate failed to lift sentiment. The recent decline in oil prices also weighed on trading. KEEPING SCORE: Britain’s FTSE 100 fell 0.4 percent to 6,667.31. Germany’s DAX lost 1.4 percent to 10,190.80 and France’s CAC 40 was 1.4 percent lower at 4,345.95. U.S. futures also indicated a lower […]
MANILA, Philippines (AFP) — Swiss food giant Nestle said Tuesday it would spend two billion pesos ($43 million) in the Philippines on a plant to produce a key ingredient for its Milo beverage. Nestle Philippines chairman Jacques Reber said the plant, due to be completed in October 2017, would produce a malt extract currently imported from Singapore. Eventually the new plant will provide the local supply, possibly using Philippine-grown cassava which in turn will help […]
TOKYO, Japan (AFP) – by Daniel LEUSSINK Japan’s cabinet Tuesday approved a mammoth 28-trillion yen ($273 billion) package in its latest attempt to stimulate lacklustre growth, including cash to improve infrastructure and raise the birthrate in the ageing nation. The stimulus plan announced last week is the latest in a series in recent years designed to fire up the world’s number three economy. “We have been able to put together a strong package that includes bold […]
ISTANBUL, Turkey (AFP) — The foiled coup attempt seeking to unseat the government of President Recep Tayyip Erdogan has cost the Turkish economy 300 billion lira ($100 billion/90 billion euro), the trade minister was quoted as saying on Tuesday. Customs and Commerce Minister Bulent Tufenkci was quoted as saying by the Hurriyet newspaper the heavy price tag may even go up but insisted that Turkey’s economic fundamentals were solid. “Warplanes, helicopters, weapons, bombs, buildings: 300 billion […]
QUEZON CITY, Aug. 2 – The Bangko Sentral ng Pilipinas said preliminary data show that domestic liquidity (M3) grew by 12.4 percent year-on-year to P8.7 trillion in June. BSP noted that this was a slight deceleration from the 13.5-percent expansion recorded in May. On a month-on-month seasonally-adjusted basis, M3 decreased by 0.3 percent. Money supply continued to expand due largely to sustained demand for credit. Domestic claims grew by 16.9 percent in June from 18.7 […]
SEOUL, South Korea (AFP) — South Korea on Tuesday banned the sale of 80 Volkswagen AG models and handed down a $16 million fine in its latest response to the German carmaker’s emission-cheating scandal. The environment ministry said most of the models had been showcased for sale until recently, and added that the problem vehicles had fabricated documents for emissions and noise-level tests. The ministry said it was revoking the certification for 80 models, or […]
SAN FRANCISCO, United States (AFP) — Instagram on Monday said that is adding a new weapon for fighting harassment at the popular mobile app for sharing pictures and videos. The Facebook-owned social network began letting some celebrities and others with accounts that attract torrents of feedback filter those comments by keywords or even turn off the option to comment on particular posts. “Our goal is to make Instagram a friendly, fun and, most importantly, safe […]
BEIJING, China (AFP) — Ride-sharing giant Uber is to merge its China operations with local rival Didi Chuxing, reports said Monday, ending a ferocious battle for market share in the world’s second-largest economy. The deal will give Uber a 20 percent share in the combined firm, Bloomberg News reported, adding it will be valued at $35 billion. Both companies have spent billions of dollars on subsidies for drivers and passengers, as well as trading vitriolic […]
BEIJING, China (AFP) — China’s manufacturing shrank in July, the government said Monday, blaming the deterioration on rainstorms that wreaked havoc across large swathes of the country. It was the first time since February the official purchasing managers’ index (PMI) showed contraction, and according to a Bloomberg News survey it missed economists’ expectations it would flatline. The official PMI came in at 49.9 for July, down from 50.0 the month before and underlining problems in […]
TOKYO, Japan (AFP) — Tokyo stocks opened sharply lower Monday as the yen soared on weak US growth data and after the Bank of Japan disappointed markets with underwhelming tweaks to its stimulus programme. On Wall Street, US equities ended mostly in the black on Friday following strong earnings from major technology companies, despite weaker-than-expected quarterly growth figures from the world’s top economy. Official US data estimated second quarter growth at an annual rate of […]
