Philippine Economy Leads Amidst Southeast Asian Growth Challenges
The Philippines is a shining example of resilience amidst challenging regional economic conditions. The ADB’s positive growth forecast for the country reflects the unwavering strength of its consumer spending and the potential for significant contributions from the tourism and BPO sectors. However, as Southeast Asia navigates the headwinds of weakening global demand and inflationary pressures, continued vigilance and innovative strategies will be crucial to sustaining growth and promoting economic prosperity in the region.
Dyson to Develop New Facilities in Singapore, UK and Philippines
The Singapore headquartered consumer electronics major Dyson on Wednesday announced that it will be building new manufacturing facilities and technological hubs at Tuas in region Singapore, the Philippines, and the UK as part of its ongoing five-year $3.4 billion global investment plan for the development of its software and AI capabilities.
OPEC+ oil supply cuts could tip world into recession, IEA says
A decision by the OPEC+ oil producer group last week to rein in output has driven up prices and could push the global economy into recession, the International Energy Agency said on Thursday.
Exclusive: Citi, Raiffeisen, other foreign banks seek staff in Russia as they struggle to exit
Russian divisions of foreign banks, such as Citi and Raiffeisen Bank International (RBIV.VI), have started looking for staff this month after Russian authorities moved to block them exiting the country, industry sources and a recruiting company said.
Analysis: Latest U.S. stocks bounce tests skepticism that rally can last
Investors are assessing a recent U.S. stock market bounce after similar rallies have fizzled in 2022, a year that is on track for the biggest S&P 500 percentage drop in the first half of a year in over a half century.
Buy now, pay later firm Zip to raise fees amid surging inflation
Australian buy now, pay later company Zip Co Ltd (ZIP.AX) said on Wednesday it would raise fees for customers and merchants, as it tries to weather an onslaught from soaring inflation and rising interest rates on its business.
Analysis: U.S. energy shares on fire again to start 2022, stoked by inflation
Shares of U.S. energy companies are soaring in the early days of 2022, driven by a shift to so-called value stocks and assets that stand to benefit from the steepest inflation in nearly four decades.
Samsung names new CEOs, to merge mobile, consumer electronics units
Samsung Electronics Co Ltd (005930.KS) will merge its mobile and consumer electronics divisions, the firm said on Tuesday, naming new co-chief executives in the biggest reshuffle since 2017 to simplify its structure and focus on the logic chip business.
S.Korea July inflation accelerates; staying at nine-year peak
SEOUL, Aug 3 (Reuters) – South Korea’s consumer inflation accelerated in July, staying at a nine-year peak marked in May, as hot weather conditions lifted prices of fresh food, while oil products and housing rental and other services costs continued rising. The consumer price index (CPI) last month rose 2.6% year-on-year, Statistics Korea data showed […]
U.S. consumer prices post largest gain in 13 years
WASHINGTON, July 13 (Reuters) – U.S. consumer prices increased by the most in 13 years in June amid supply constraints and a continued rebound in the costs of travel-related services from pandemic-depressed levels as the economic recovery gathered momentum. With used cars and trucks accounting for more than one-third of the surge in prices reported […]
