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(Reuters) – Hedge fund manager Marko Dimitrijevic is closing his largest hedge fund, Everest Capital’s Global Fund, having lost almost all its money after the Swiss National Bank (SNB) scrapped its three-year-old cap on the franc against the euro, Bloomberg news reported on Saturday. Citing a person familiar with the firm, Bloomberg said the fund had been betting that the Swiss franc would decline. The fund had about $830 million in assets at the end […]
Thousands of farmers and consumer rights activists gathered at the German chancellory on Saturday (January 17) to protest against the rise of industrial-scale agriculture and genetically modified foods. The protest, under the headline “We are fed up”, coincided with the start ofEurope’s biggest agricultural fair, the International Green Week, and is one the largest annual protests in Germany. The protesters said they blamed the German government for not doing enough to support traditional farmers and […]
The Philippine Stock Exchange will not implement an increase in its access fee despite switching to a new platform.
With the debut of its new GLE Coupe, Mercedes Benz is betting that 2015 will be the year of the SUV. The car was unveiled in Detroit on Sunday (January 11), the eve of the North American International Auto Show in Detroit. Daimler AG Chief Executive Officer Dieter Zetsche said the automaker’s Mercedes luxury brand plans four new or redesigned sport utility vehicles this year, expanding its offerings in one of the fastest growing segments […]
(Reuters) – Brent and U.S. WTI crude oil prices fell to their lowest levels in almost six years on Tuesday as a big OPEC producer stood by the group’s decision not to cut output to tackle a glut in the market. Oil prices have fallen 60 percent from their June 2014 peaks, driven down by rising production, particularly U.S. shale oil, and weaker-than-expected demand in Europe and Asia. Rather than cutting output to try to […]
Asian stocks slipped on Tuesday as a continuing slide in crude oil prices dampened risk appetite, while the dollar nursed losses against the safe-haven yen. MSCI’s broadest index of Asia-Pacific shares outside Japan.MIAPJ0000PUS fell 0.3 percent. Japan’s Nikkei .N225 dropped 1.4 percent and Australian shares .AXJO were down 0.9 percent. The region’s focus was on Chinese trade data due at 9 p.m. ET, especially as recent signs of weakness in the world’s second largest economy […]
Toyota unveiled its next generation 2016 Tacoma on Monday (January 12) at the Detroit Auto Show, hoping to take market share away from U.S. automakers in the high-growth mid-sized market. Nissan touted its redesigned Titan pickup thinking that its brawny Cummins V8 diesel rated at 310 horsepower will woo consumers. Toyota’s Senior Vice President of Sales Bob Carter said he is looking forward to the competition that GM (and Ford) bring to the market. “It’s […]
Investments in the Autonomous Region in Muslim Mindanao (ARMM) increased by a whopping 260 percent in 2014 with investment projects recorded at P 3.867 billion from P1.463 billion in 2013. The Regional Board of Investments (RBOI) in ARMM said the investments also generated a total of 3, 433 jobs in the region. RBOI-ARMM said the biggest investment that came in 2014 is the Biomass Renewable Energy project of Lamsan Power Corporation in […]
MANILA, Jan. 8 –Finance officials hailed the successfully concluded liability management transaction, as the Republic of the Philippines marked its return to the international capital markets with a showing consistent with its now emergent sterling reputation. “It took courage and conviction to pursue strategic transaction in the midst of global market volatility. Strong economic fundamentals and track record of well placed deals allowed [the Philippines] to be the first issuer in the global dollar market […]
(Reuters) – Asian share markets slipped while the euro hit a nine-year trough on Wednesday as collapsing oil prices and worries about the world economy drove skittish investors into the arms of safe havens such as the yen and sovereign debt. From Japan to Germany to Australia, government borrowing costs reached all-time lows as oil fell 10 percent in just two days and investors wrestled with the risk of global deflation. Data from the euro […]
MANILA, Jan. 7 — Philippine exports enjoy duty-free access into the European Union (EU) market last December 25, 2014 through the Union’s “tariff preferences under the special incentive arrangements for sustainable development and good governance”, more popularly known as the Generalized System of Preferences Plus (or GSP+). GSP+ privileges extend duty-free access to Philippine exports in 66 per cent of all product tariff lines, including fisheries products and garments. The grant of GSP+ privileges is […]
Greenhouse gas emissions by the world’s top 500 companies rose 3.1 percent from 2010 to 2013, far off the cuts urged by the United Nations to limit global warming, a study showed on Monday. The top 500 firms by capitalisation accounted for 13.8 percent of world greenhouse gas emissions and 28 percent of gross domestic product in 2013, according to the report, drawn up by the information provider Thomson Reuters and BSD Consulting, a global […]
