Economic news

EU finance ministers agreed that Facebook’s Libra and other private digital currencies should not be allowed in the European Union unless the risks they pose are finally addressed. This confirms EU’s tough criticism of Libra, which was announced in June and has since been the talk of global regulators due to its possible impact on […]

DEC 6- Australian shares were on course to finish this week on a positive foot as market investors remained cautious while waiting for fresh progress in trade pact signing between Washington and Beijing. The S&P/ASX 200 index clocked in 0.2% gains to 6,694.20 by 0015 GMT. However, it was posed to shed 2.5% for this […]

The Philippine Statistics Authority (PSA) said around six million Filipinos rose from poverty as the government continues to beef up spending on social welfare. The statistics agency of the Philippines reported around 17.6 million Filipinos (or 16.6% of the country’s population) were poor in 2018. The figures were compared to that of the 2015 record […]

Japanese automaker Nissan Motor Co announced a two-day operations halt for its US unit next month, as the automaker alleviates the drop in profitability in the US. Nissan’s overall profits fell sharply this current fiscal year, affected by dropping sales in US and China as well as a stronger yen in the foreign exchange market. […]

TOKYO- Japanese shares hiked up on Friday following government’s approval of 26 trillion yen stimulus package set to enforce growth and arm the economy against risks brought by overseas slowdown. At 0151 GMT, the Nikkei index inched higher with 0.32% gains to 23,375.02. Gains in financial and industrial sector heavily contributed to the said activity […]

Japan revealed a $120 billion fiscal package that aims to stimulate the country’s stalling economic growth while offshore risks and sustainability after the 2020 Tokyo Olympics concern policymakers. Prime Minister Shinzo Abe announced the fiscal package worth 13 trillion yen ($119.7 billion) on Thursday. The people of Japan expects further announcement from the government regarding […]

Huawei sues FCC in a fight for access to U.S. markets Huawei Technologies Co. has sued the Federal Communications Commission in a fight to overturn a regulatory decision that would pry Chinese corporations away from its last major American clients. China’s largest technology company said that it had filed the lawsuit with the Fifth Circuit […]

Oil prices lower as crude inventories build higher than expected Oil prices traded lower on Thursday in Asia after data showed a higher-than-expected build in crude inventories. U.S. Crude Oil WTI Futures fell 0.3% to $58.23 by 11:54 PM ET (03:54 GMT). International Brent Oil Futures slipped 0.1% to $62.94. The Energy Information Administration (EIA) […]

Chinese envoy to the United States said that the two parties were resolving issues on the phase one of the trade deal, but warned of other parties trying to meddle in the talks and come in between of the two countries without providing further details. Envoy to the United States Ambassador Cui Tiankai said that […]

MELBOURNE- Caltex Australia’s top executives disclosed on Thursday their plan of coordinating with a Canadian suitor in high hopes of acquiring larger takeover offer. Such followed after the petrol pump and convenience store operator rejected suitor’s A$8.61 billion offer. Caltex Australia dismissed a takeover proposal by Canadian convenience store operator Alimentation Couche-Tard Inc as it […]