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AUGUST 14 (Reuters) — A heatwave has forced Poland to sharply cut electricity supply to industry for the first time in over a decade, pushing some companies to limit production. Prime Minister Ewa Kopacz called the situation “very serious” as weather forecasts for the coming days showed high temperatures will persist. “Partial restrictions will affect over 1,600 companies, but they should not have a negative impact on their production capacities,” Kopacz said at a news […]
UNITED States of America, August 12 (Eagle News) — The price of United States oil crashed in the world market at $43.08 per barrel, the lowest price of oil since March 2009. Said price crash was brought about by the devaluation of the Chinese yuan due to slow economic growth of China. (Eagle News Service Jay Paul Carlos, Jericho Morales, MRFaith Bonalos) https://youtu.be/hY1GYR9g5Wc
MAKATI CITY, Aug. 12 — As the Philippines continues to enjoy high investor confidence, the Department of Trade and Industry (DTI) and Board of Investments (BOI) continue to build sustainable groundwork to promote investments in the various regions of the country. “In collaboration with DTI’s regional offices, we have stepped up our promotion efforts to drive economic activities nationwide, especially in investment ready areas,” DTI Undersecretary Ponciano C. Manalo Jr. said. The BOI through its Domestic Investments […]
AUGUST 4 (Reuters) — Wall Street ended lower on Monday (August 3) as tumbling oil prices dragged energy shares to a three-year low and factory data from China raised concerns about the world’s second-biggest economy. Energy stocks were the biggest losers among the main S&P sectors. Exxon Mobil and Chevron, which reported poor results on Friday, led the losses. Oil prices fell on fresh evidence of growing oversupply and data highlighting slowing demand in China. […]
MANILA, Philippines, Aug. 3 (Eagle News) — Good news for motorists. A big time price rollback in petroleum products is expected to be implemented this week. Gasoline prices may hover from P0.40 to P0.70 per liter; P0.90 to P1.05 per liter of diesel and P0.70 to P0.90 per liter of kerosene. Said big-time oil price cut down was due to the decreasing demand in the world market. (Eagle News Service) https://youtu.be/3pXgy7xQTVI
JULY 31 (Reuters) — Job cuts and falling profits at Royal Dutch Shell are the latest indication of how prolonged low oil prices are taking their toll. Profits in the second quarter were 37 percent lower than last year. Net income was $3.8 billion, down from more than $6 billion a year earlier, missing analysts forecasts. It’s to axe 6,500 jobs to help mitigate the impact. Ben van Beurden, Chief Executive, Royal Dutch Shell said, […]
PASIG City, Philippines, July 30 (Eagle News) — Meralco warned the public against the possibility of higher electric charges in the coming month due to supply restrictions placed on the Malampaya natural gas plant which can lead to higher price of electricity on the Wholesale Electricity Spot Market. (Eagle News Service Jay Paul Carlos, Jericho Morales, MRFaith Bonalos) https://youtu.be/Kv7wdDI-2-Q
JULY 28 (Reuters) — Chinese shares tumbled more than 8 percent on Monday (July 27) as an unprecedented government rescue effort to prop up valuations abruptly ran out of steam, throwing the viability of Beijing’s plan to stave off a deeper crash into doubt. Major indexes suffered their largest one-day drop since 2007, shattering three weeks of relative calm in China’s volatile stock markets since Beijing unleashed a barrage of support measures to arrest a […]
ASIA-PACIFIC Economic Cooperation (APEC) delegates are meeting in Iloilo City on Thursday and Friday for the Workshop on Infrastructure Financing and Capital Market Development, which aims to address the challenges in the Asia-Pacific region’s infrastructure sector. Although Asia-Pacific economies have achieved significant progress in raising living standards, the region’s infrastructure has not kept pace with economic growth. The increasing congestion of roads, power shortages, and inadequate public services imperil hard-won economic gains for many economies in […]
JULY 16 (Reuters) — U.S. stocks edged lower on Wednesday (July 15) following comments from Federal Reserve Chair Janet Yellen, as a decline in energy shares outweighed gains in the financial sector. The energy sector, down 1.6 percent, was the worst performer of the 10 major S&P groups as oil prices retreated on concerns increased exports from Iran will add to a global supply glut. Brent settled down $1.46 at $57.05 while U.S. crude settled […]
JULY 16 (Reuters) — U.S. Republican presidential candidate and real estate magnate Donald Trump said on Wednesday (July 15) his net worth has risen to more than $10 billion, and he earned $362 million in 2014. Trump gave the numbers to the Federal Election Commission in a finance declaration required of candidates. Also a TV host, Trump said only last month when he announced his candidacy for the November 2016 White House race that he […]
JULY 16 (Reuters) — India’s Minister for Petroleum and Natural Gas, Dharmendra Pradhan, said the country will benefit from the fall in oil prices following Iran nuclear deal. Pradhan said that even though the natural petroleum industry may face some challenges, India will be one of biggest beneficiaries of the dip in oil prices. “With Iran coming to the market, there is an assumption that there will be sliding in the oil price. There will […]
