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Global growth prospects are uneven across the main countries and regions, says the IMF’s latest WEO. In advanced economies, growth is projected to be stronger in 2015 relative to 2014, but in emerging market and developing economies, it is expected to be weaker. “Global growth in 2015 is going to be more or less the same as in 2014, about 3.5%. That’s not bad, but that’s not great. It’s clear that advanced economies are going […]
China will limit the number of visits that residents of the southern city of Shenzhen can make to neighboring Hong Kong, state media said on Monday (April 13), to ease the flow of mainland visitors in the former British colony that has led to tensions. The Ministry of Public Security’s Exit-Entry Administration Bureau will restrict residents to one Hong Kong visit a week with immediate effect, compared with an unlimited number of daily trips previously, […]
The average retail price of sugar has increased during the second week of April due to the increase in demand and speculations that traders will increase prices in preparation for they payment of the 12% Value Added Tax (VAT) next month. According to the Sugar Regulatory Administration (SRA), the average retail price of raw sugar in Metro Manila markets have increased by P1.00 per kilo. From P43.50, the current price is now at P44.50 per […]
Good news for motorists as there would be a rollback of petroleum product prices this week. According to the Department of Energy (DOE), there would be a five centavo rollback per liter of diesel while a thirty centavo rollback for gasoline. The DOE also clarified that the said rollback could still change due to the continued political unrest in Yemen. Petroleum companies recently rolled back the prices of their products last week after the price […]
The International Monetary Fund raised its forecast on the Philippine economy up to 6.7% due to high government spendings and high consumption rate of the private sector.
(Reuters) – Asian stocks were mostly lower on Wednesday, taking their lead from weaker U.S. shares, while the dollar slid against the yen as Tokyo’s Nikkei recoiled in volatile trade. As share volatility rose, spreadbetters forecast a significantly lower open for Britain’s FTSE.FTSE, Germany’s DAX .GDAXI and France’s CAC .FCHI. Crude oil prices continued to decline as negotiations between Iran and world powers over nuclear technology extended beyond a deadline. The protracted negotiations have drawn […]
Oil prices rallied for a second straight day on Thursday (March 26) after Saudi Arabiaand its Gulf Arab allies began air strikes in Yemen, sparking fears of a bigger Middle East battle that could disrupt world crude supplies. The military operation against Houthi rebels, who have driven the president from Yemen’s capital Sanaa, has not affected oil facilities of major Gulf producers. But fears the conflict could spread has stoked concerns about Middle East oil […]
Indonesian President Joko Widodo called for more yen investments on Tuesday (March 24) in a speech before Japanese business leaders in Tokyo. Widodo, on the third day of his Japan tour, focused on business diplomacy as he urged nearly 1,000 businessmen and women to increase their investment in Indonesia, a total of 4.7 billion US dollars in 2013 according to Japanese Foreign Ministry source. “Foreign investment to Indonesia continues to grow each and every year. […]
Chinese tourists are rapidly deserting Hong Kong, leaving retailers who built businesses around once insatiable demand from mainland neighbours with bigger but emptier stores and squeezing the whole city’s visitor-dependent economy. With cross-border tensions exacerbated by pro-democracy Hong Kong protests, tour groups visiting Hong Kong from China plunged about 80 percent in early March. A Beijing crackdown on conspicuous spending by mainlanders also shows no signs of letting up, sending tourists further afield. While day […]
The concept of crowdfunding was spurred by the Global Financial Crisis of 2008 when individuals finally took it upon themselves to finance their ideas instead of heading to banks and other big financial institutions for their initial capital. American economic and social theorist, Jeremy Rifkin, summarized this: “Now millions of people are becoming their own bankers.” And indeed this had become the trend with sites such as Indiegogo and Kickstarter, where individuals could post their […]
A new clash between the U.S. and China in the bid for influence in fast growing Asia. Beijing has taken the lead in jump-starting a new government-funded infrastructure bank – theAIIB – recently gaining the support of traditional U.S. ally Great Britain for the 50-billion dollar project. Now, according to a media report, other European nations such as France, Italy and Germanyare signing up too. Australia also hinting it wants to join. The West has […]
