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Asian share markets swept lower Monday (January 11) after Wall Street suffered its worst starting week in history and doubts over Beijing’s economic competence sent investors into the arms of the safe-haven yen and sovereign bonds. The absence of Tokyo for a holiday only made liquidity even harder to come by, heightening volatility. South Korean shares fell, led by concerns about China and caution ahead of earnings later this month. The Korea Composite Stock Price […]
China’s stock markets opened high on Friday after trading was halted early in the previous day as a seven-percent drop triggered the newly-introduced circuit breaker mechanism. The benchmark Shanghai Composite Index opened up 2.23 percent at 3,194.63 points Friday morning while the smaller Shenzhen index opened at 11,008.89 points, 2.31 percent up. Trading was halted for the day on the Shanghai and Shenzhen stock markets on Thursday morning after shares tumbled over seven percent and […]
China’s major stock indexes opened higher on Friday (January 8) after Beijing ditched a circuit breaker mechanism that halted trading twice this week when share prices tumbled and had been blamed for exacerbating the market sell-offs. The People’s Bank of China also raised its guidance rate for the yuan for the first time in nine trading days, having allowed the currency’s biggest fall in five months on Thursday (January 7), sending shivers through regional currencies […]
Oil lurched to new 12-year lows before paring some losses on Thursday, with some traders betting a rout triggered by fears over China demand and swelling U.S. stockpiles had run its course, for now. Global benchmark Brent crude fell as much as 6 percent to nearly $32 a barrel, its lowest level since at least April 2004, as another free fall in the Chinese stock market rattled investors already concerned by the world glut in […]
BERLIN German automaker Volkswagen AG assumes it will have to buy back about 115,000 cars in the United States as a result of the emissions scandal, a newspaper reported on Thursday. Without citing its sources, Germany’s daily Sueddeutsche Zeitung said the company expected it would have to either refund the purchase price of a fifth of the diesel vehicles affected or offer a new car at a significant discount. Volkswagen expects that the rest of […]
“My biggest dream is for our businesses, which started in Mindanao, to become global, and to find more ways to raise the demand for our products and services so as to increase the number of people we have given livelihood.” The noble statement is from Miss Helen Kaye Layco, a 26-year old young woman, an advocate of women empowerment, an innovative entrepreneur, and a former New Era University student. She won in the recently concluded […]
Japanese stocks began 2016 on a lower note on Monday (January 4), playing catch-up to falls in U.S. stocks in the last two sessions during Japan’s market holidays. The Nikkei benchmark started the first trade of the year down 1 percent at 18818.58. The Nikkei gained around 9 percent last year. In May last year, the Nikkei average surpassed 20,000 for the first time in 15 years, and in August the total value of the […]
Saudi Arabia, its finances hit by low oil prices, announced plans to shrink a record state budget deficit with spending cuts, reforms to energy subsidies and a drive to raise revenues from taxes and privatisation. The 2016 budget, released by the finance ministry on Monday (December 28), marked the biggest shake-up to economic policy in the world’s top crude exporter for over a decade, and includes politically sensitive reforms from which authorities previously shied away. […]
The Bangko Sentral ng Pilipinas (BSP) cut its 2015 Gross International Reserves (GIR) target due in part to the slower growth of remittances from Filipinos overseas. To date, the Central Bank’s GIR target for the year is USD 80.7 billion, down from the USD 81.6 billion made last May. BSP Governor Amando Tetangco Jr., earlier traced the lower foreign reserves level to revaluation of the Central Bank’s Gold Holdings due to drop in the price […]
According to industry sources, there is an impending rollback in the price of oil products this week with a cut of Php 1.60 to Php 1.80 in the price of diesel and Php 1.10 to Php 1.25 in the price of kerosene. <em>(Eagle News Service Described by Jay Paul Carlos, Video Editing by Dexter Magno, Uploaded by MRFaith Bonalos)</em> https://youtu.be/2vqrqIsDymQ
The U.S. decision to raise interest rates will have some impact on China’s trade but how much is not immediately known, the Chinese commerce ministry said on Thursday (December 17). The Federal Reserve hiked interest rates for the first time in nearly a decade on Wednesday (December 16), signalling faith that the U.S. economy had largely overcome the wounds of the 2007-2009 financial crisis. The U.S. central bank’s policy-setting committee raised the range of its […]
Good news for motorists, oil companies will implement big time price roll back on its petroleum products this week. Oil prices may be cut between P0.45 centavos to P1.00 in every liter of kerosene. The price rollback to be implemented in every liter of diesel were P0.50 centavos to P1.00 and P0.75 centavos to P1.00 may be slashed in every liter of gasoline. (Eagle News Service)
