News

US stocks boosted by report of possible lifting of China tariffs

John Biers, Agence France-Presse
Posted at Jan 18 09:17 AM

US stocks were little changed through early afternoon but suddenly jumped higher after The Wall Street Journal reported Treasury Secretary Steven Mnuchin had proposed lifting some or all tariffs on China as a way to reassure markets and bolster the odds of a bigger trade deal. Read more »

Some consumers lament rising prices of goods

ABS-CBN News
Posted at Jan 18 12:26 AM

But the Philippines' trade secretary is confident inflation will slow down this year and consumers will barely feel the impact of additional excise taxes. Read more »

China's exports shrink most in 2 years, raising risks to global economy

Yawen Chen and Martin Quin Pollard, Reuters
Posted at Jan 17 11:21 PM

China's exports unexpectedly fell the most in two years in December, while imports also contracted, pointing to further weakness in the world's second-largest economy in 2019 and deteriorating global demand. Read more »

Ilang produkto sa supermarket mas mura kaysa sa palengke: DTI

ABS-CBN News
Posted at Jan 17 08:54 PM

Ipinapayo ng Department of Trade and Industry sa mga konsumer na subukan ding mamili sa mga supermarket dahil mas mura raw doon ang presyo ng ilang bilihin. Read more »

DTI imposes provisional duty on imported cement amid surge in imports

ABS-CBN News
Posted at Jan 17 07:48 PM

Besides discouraging imports, the duty on cement will also encourage existing and new players to build additional facilities to for domestic production, the DTI said. Read more »

Germany's BDI on Huawei: No vendor should be banned from 5G sans evidence

Reuters
Posted at Jan 17 07:47 PM

No vendors should be excluded from Germany's fifth-generation mobile networks if there is no evidence against them, the BDI industry association said, responding to calls to bar China's Huawei Technologies on national security grounds. Read more »

Duterte: Sacked Bacolod police chief an illegal drug trade protector

Dharel Placido, ABS-CBN News
Posted at Jan 16 06:52 PM

MANILA - President Rodrigo Duterte on Wednesday said he believes that sacked Bacolod police chief Senior Supt. Francis Ebreo served as a protector of those involved in the illegal drug trade. Read more »

China cbank's record $83-B injection heightens worries over ailing economy

Winni Zhou and Andrew Galbraith, Reuters
Posted at Jan 16 05:18 PM

China's central bank injected a record $83 billion into the country's financial system on Wednesday, seeking to avoid a cash crunch that would put further pressure on the weakening economy.   Read more »

UK parliament rejects Brexit deal in historic vote

Alice Ritchie and Dmitry Zaks, Agence France-Presse
Updated as of Jan 16 07:53 AM

Britain's parliament on Tuesday resoundingly rejected Prime Minister Theresa May's Brexit deal, triggering a no-confidence vote in her government and plunging its plans to leave the EU into further disarray.   Read more »

PH shares tumble anew, manage to stay above 8,000

ABS-CBN News
Posted at Jan 15 11:20 PM

Investors are watching out for the crucial vote on Brexit.   Read more »

China warns state firms to avoid travel to U.S. - Bloomberg

Reuters
Posted at Jan 15 05:50 PM

China has asked some of the state-run companies to avoid business trips to the United States and its allies, and to take extra care to protect their devices if they need to travel, Bloomberg reported on Tuesday. Read more »

Trump defends trade policies to farmers, vows fair deal with China

P.J. Huffstutter and Steve Holland, Reuters
Posted at Jan 15 09:05 AM

Trump dedicated much of his speech to explaining why he believes the United States needs a wall on its southern border, in his second consecutive visit to the American Farm Bureau Federation's annual convention. He also said his trade policies would deliver long-term benefits for the American heartland. Read more »

Wall Street slides on China worries, earnings fears

Agence France-Presse
Posted at Jan 15 07:08 AM

Wall Street swung to a loss on Monday as fears for the global economy dampened investor sentiment just as earnings season got under way. Read more »

China's exports shrink most in 2 years, raising risks to global economy

Yawen Chen and Martin Quin Pollard, Reuters
Updated as of Jan 14 03:51 PM

Adding to policymakers' worries, data on Monday also showed China posted its biggest trade surplus with the United States on record in 2018, which could prompt President Donald Trump to turn up the heat on Beijing in their bitter trade dispute. Read more »

Detroit auto show, and industry, prepare for transition

Luc Olinga and Nova Safo, Agence France-Presse
Posted at Jan 14 09:12 AM

Concerns over the health of the global economy and a US-China trade war loomed over the North American International Auto Show, as it prepared to open Monday with the first five days dedicated to the media and industry insiders. The show opens to the general public on Jan. 19. Read more »

Branded na tinapay di kailangan ng SRP: DTI

ABS-CBN News
Updated as of Jan 13 07:56 PM

Iginiit ng Department of Trade and Industry na hindi na kailangang patawan ng suggested retail price ang branded na tinapay kasunod ng panawagan ng isang consumer group. Read more »

China will tackle US trade dispute in 2019: minister

Agence France-Presse
Posted at Jan 13 02:58 PM

China will work to straighten out trade frictions with the US this year, the country's commerce minister told state media, following talks with US negotiators this week.  Read more »

'Oversupply, bagsak-presyo ng gulay mula Benguet naiwasan sana'

ABS-CBN News
Posted at Jan 10 09:01 PM

Dahil sa oversupply, napilitan ang ilang magsasaka na itapon ang tone-toneladang sobrang gulay. Pero may paraan umano na maiwasan ang sitwasyong ito, ayon sa isang grupo.  Read more »

Alorica sees 'significant growth' in BPO operations this year

Cathy Yang, ABS-CBN News
Posted at Jan 10 03:17 PM

The Philippines, where Alorica employs roughly 40,000, is a "primary growth driver" for the company, said its Asia president, Bong Borja. Read more »

Trade deficit widens to $3.9 billion in November 2018

ABS-CBN News
Updated as of Jan 10 12:01 PM

Imports grew 6.8 percent to $9.47 billion in November from $8.86 billion compared to November 2017, government data showed.  Read more »