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Stocks eke out gains, back at 6,900
The stock market eked out gains to move back up to the 6,900 level as investors continued to hunt for bargains......»»
Trending tickers: Trump Media, Tesla, Bitcoin and DS Smith
Former US president Donald Trump’s media firm, Trump Media & Technology Group, had a successful stock market debut in New York, with shares soaring past.....»»
Bargain hunting ends 2-day slump
The stock market broke out of its two-day slump yesterday as bargain hunters buoyed share prices......»»
Dovish Powell lifts markets to historic highs
Last week, US equities reached new all-time highs, thereby lifting global stock markets. This came on the back of Federal Reserve (Fed) Chair Jerome Powell’s dovish policy statement. In that speech, Powell touted considerable progress in bringing down inflation, notwithstanding the bumps in the road toward the two percent target......»»
Investors take profits ahead of Holy Week break
The stock market fell below the 6,900 level once more to end the week in the red as investors cashed in on their profits......»»
Why Trump May Benefit from Truth Social Stock Market Merger
A recent study has shed light on the negative effects of excessive screen time on children’s development. Researchers have found that children who spend extended.....»»
Social Media Firms Shares Soar in Stock Market Debut
India’s GDP Growth Rate Drops to 4.7% in Latest Quarter According to provisional data released by the Central Statistical Office, India’s GDP growth rate has.....»»
Philippine wrestling chief confident of return to Olympics
Wrestling of the Philippines (WAP) president Alvin Aguilar has expressed confidence that the reforms implemented in the association will result in unwavering success for Pinoy wrestlers, including a return to the Olympics......»»
Shares gain anew on rate cut hopes
The stock market advanced for a second consecutive session yesterday, buoyed by indications that the vs Federal Reserve will make interest rate cuts later this year......»»
Bitcoin Slips to $27K amid Escalating Hamas-Israel Conflict and Diminished Investor Confidence
Bitcoin’s recent attempt to break the $28,000 level faced a wave of selling pressure, according to market analysts at FxPro. This surge in selling resulted.....»»
Business confidence up among Japan’s big manufacturers
Confidence among Japan's largest manufacturers rose as business conditions improved for the second-straight quarter, a key survey showed Monday. The Bank of Japan's closely watched quarterly Tankan survey is considered the broadest indicator of how Japanese businesses are faring. It reports the difference between the percentage of firms that are upbeat and those that see conditions as unfavorable. A positive figure means more businesses feel optimistic than pessimistic. Among major manufacturers, business confidence rose to plus nine from plus five three months earlier, the survey showed. The headline figure -- the highest level since June last year -- came after the first improvement in seven quarters in July, and beat market expectations of plus six. Optimism also grew among non-manufacturers, from plus 23 to plus 27, which was the sixth-straight quarterly improvement and the highest level since November 1991 and against market expectations of plus 24. Positive figures in the survey are "driven by a strong automotive industry buoyed by the resolution of the semiconductor supply shortage that has plagued the industry this year," Hiroyuki Ueno, senior economist at Sumitomo Mitsui Trust Asset Management (SuMi TRUST), said ahead of the survey's release. "In the non-manufacturing sector, the continued boom in inbound travel is supporting business confidence," he said. Analysts have said the BoJ's latest survey is among the key data affecting the central bank's policy decisions. The post Business confidence up among Japan’s big manufacturers appeared first on Daily Tribune......»»
Former Pakistan PM Khan arrested after court convicts him of graft
Former Pakistan prime minister Imran Khan was arrested at his home in Lahore on Saturday after a court in the capital found him guilty of graft and sentenced him to three years in jail. The former international cricket star has long warned he would be arrested to prevent him from participating in elections that are due to be held before the end of the year. "His dishonesty has been established beyond doubt," Judge Humayun Dilawar wrote in a ruling seen by AFP for a case centered on gifts he received and did not properly declare while he was premier. "He has been found guilty of corrupt practices by hiding the benefits he accrued from the national exchequer willfully and intentionally." In May, Khan was arrested and briefly detained in Islamabad for the same case, sparking deadly unrest during which supporters of his Pakistan Tehreek-e-Insaf (PTI) party poured onto the streets and clashed with police. In the aftermath of his release following three days in custody, PTI has been targeted by a crackdown with thousands of arrests, reports of intimidation, and muzzling of the press. After he was taken away by police Saturday, a video made before his arrest was posted to his X account. "My arrest was expected & I recorded this message before my arrest... I want my party workers to remain peaceful, steadfast, and strong," he said in the caption accompanying the video. Khan not in court Khan has faced a slew of court cases on charges he says are politically motivated since being ousted in a vote of no confidence last year, and was not present when he was sentenced Saturday. The judge also fined him 100,000 rupees (around $350). Soon after the ruling, police entered his home in Lahore and arrested him. "I have just received the information that Imran Khan has been arrested," Attaullah Tarar, Special Assistant to Prime Minister Shehbaz Sharif, told reporters. Party officials said Khan had been taken to the capital, while his legal team said they would be filing an immediate appeal. "It's important to mention there was no chance given to present witnesses, neither was the time allotted to round up arguments," a member of the team said. Parliament is likely to be dissolved after it completes its term in the next two weeks, with national elections to be held by mid-November or earlier. "Everyone will ask questions about the credibility of elections in the absence of PTI and Imran Khan and questions will be raised about the credibility of elections in the outside world as well," political analyst Hasan Askari told AFP. Khan rose to power in 2018 on a wave of popular support, an anti-corruption manifesto, and the backing of the powerful military establishment. When he was ousted in April last year, analysts said it was because he lost the backing of the top generals. In multiple speeches and interviews Khan has highlighted the power the top brass wield behind the scenes -- a subject historically considered a red line in Pakistan. The case that has led to his arrest centers on gifts Khan and his wife received while in office. Pakistan newspapers have for months carried lurid stories alleging Khan and his wife received lavish presents worth millions during trips abroad -- including luxury watches, jewelry, designer handbags, and perfumes. Government officials must declare all gifts but are allowed to keep those below a certain value or buy them at an officially agreed price. The post Former Pakistan PM Khan arrested after court convicts him of graft appeared first on Daily Tribune......»»
Beyond partisan politics
The authoritative Tokyo-based publication Nikkei Asia, which started among those who doubted President Bongbong Marcos’ capability to lead the nation appears to be changing its tune in its latest edition, reflecting the growing global respect that BBM has been reaping in the first of his six-year term. Marcos was able to rise above political vindictiveness to utilize the best that the government can offer for the country’s development, one of the business paper’s assessments went. It cited the case of Socioeconomic Planning Secretary Arsenio Balisacan who served in the same post under the late President Benigno Aquino III. Balisacan said he never expected to take the same post under President Ferdinand Marcos Jr. Nikkei Asia said Aquino’s parents led the opposition to Marcos’ father, President Ferdinand Marcos Sr., in the 1986 People Power Revolt. “For Balisacan, his appointment is a sign that Marcos’s determination to rework the economy is stronger than any historical baggage,” Nikkei Asia said. “Not even a chance that I thought about being invited to join because I served the Aquino government,” said Balisacan, also director general of the National Economic and Development Authority. “It became clear to me that Marcos wanted to do something about the economy,” he added. The initial reviews of BBM were not very favorable. “Marcos frustrated investors when he skipped debates during the campaign and spoke more about ‘unity’ than the specifics of how he would run the economy,” the Nikkei Asia report went. “But one year after taking office, Marcos has defied some of the most pessimistic predictions on his presidency. He has won the confidence of business, bolstered the alliance with the US, and pledged to respect human rights,” the report said. In BBM’s first year, the Philippines had the distinction of being among the best-performing economies in the region, growing by 7.6 percent in 2022. “Expansion slowed to 6.4 percent in the first quarter but still surpassed analyst projections. Marcos is aiming for growth of up to 8 percent per year from 2024 to 2028,” Nikkei Asia said. In May, Fitch Ratings affirmed its “investment grade” assessment of the Philippines, raising the outlook to “stable” from “negative,” said the report. The business sector experienced a refreshing change in terms of the attention it received from Marcos. “While his predecessor, Rodrigo Duterte, attacked tycoons, Marcos gave them a direct line via a business advisory council that he holds regular meetings with. He has pledged to revive the public-private partnership program to allow companies to bid for infrastructure contracts,” Nikkei Asia observed. It quoted BDO Capital and Investment president Eduardo Francisco as saying, “Initially, people were not expecting much.” “They were a little, maybe, skeptical. But [the President] has assembled a very good team,” he said. International watchdogs gave Marcos a glowing review. According to Fitch Director Krisjanis Krustins, “the outlook revision (from negative to stable) reflects confidence in continued strong economic growth and sound economic policymaking.” Analysts also noted the “government’s budget discipline and commitment to gradual fiscal consolidation and reform.” “President Marcos knows the country has a lot of problems, but he is willing to spend his political capital to solve them,” Finance Secretary Benjamin Diokno was quoted as saying. The business publication acknowledged the positive impact of Marcos concurrently holding the post of agriculture secretary. “Inflation slowed to 6.1 percent in May, after marking a 14-year high of 8.7 percent in January when onions were more expensive than meat. Officials expect price gains to settle within the 2 to 4 percent target by the end of this year,” Nikkei Asia said. The post Beyond partisan politics appeared first on Daily Tribune......»»
China economy grows 4.5%
China's economy grew 4.5 percent year-on-year in the first quarter, rebounding after the end of zero-Covid measures late last year, official data showed Tuesday. The figures were the first snapshot since 2019 of a Chinese economy — the world's second-largest — unencumbered by the strict health measures that helped keep the coronavirus in check but battered businesses and supply chains. Retail figures, the main indicator of household consumption, were up 10.6 percent on-year in March, the biggest bounce since June 2021. According to data published by the National Bureau of Statistics, industrial production in March climbed 3.9 percent on-year. Tuesday's NBS report said in the first three months of the year China had faced a "grave and complex international environment as well as arduous tasks to advance reform, development and ensure stability at home." Beijing's virus containment policy — an unstinting regime of strict quarantines, mass testing and travel curbs — strongly constrained normal economic activity before it was abruptly ditched in December. The Chinese economy is also beset by a series of other crises, from a debt-laden property sector to flagging consumer confidence, global inflation, the threat of recession elsewhere, and geopolitical tensions with the United States. The official January-to-March growth figure was significantly higher than the 3.8 percent predicted by analysts in an AFP poll. China's economy grew by just three percent in the whole of last year, one of its weakest performances in decades. It posted a 4.8 percent expansion in the first quarter of 2022, though that slowed to just 2.9 percent in the final three months of the year. The government has set a comparatively modest growth target of around five percent this year, a goal the country's Premier Li Qiang has warned could be hard to achieve. An AFP poll of analysts predicted that the Chinese economy would grow by an average of 5.3 percent this year. That is roughly in line with the International Monetary Fund's forecast of 5.2 percent. Still, experts have warned that wider global trends could yet weigh on China's recovery. Teeuwe Mevissen, an analyst at RaboBank, said: "Consumption saw a recovery during the first quarter partly because of pent-up demand but is not yet back on pre-pandemic levels. "Loss in household wealth due to the real estate crisis and The post China economy grows 4.5% appeared first on Daily Tribune......»»
Spending suffers worst plunge under Duterte in September
Analysts are worried economic recovery may take longer than expected. Data on budget releases do not invite confidence......»»
It s a Muyang-Sangalang fearsome frontcourt in Coach Bonnie Tan s NCAA First 5
Bonnie Tan has been calling the shots for Colegio de San Juan de Letran from 2019 to present. Before this, the always amiable mentor was at the helm for Lyceum of the Philippines University from 2011 to 2013. Through all of that, he has had a hand in the discovery and the development of young talent for his teams as well as the game planning for the opposing rising stars. Among all of those, who are the best of the best for him? Here is Bonnie Tan's NCAA First 5, as he told ABS-CBN Sports: LARRY MUYANG Muyang is the first and foremost reason Letran could no longer be called undersized. The 6-foot-5 behemoth is the very definition of a paint presence and is the pillar of the Knights' legitimate contention. Former coach Jeff Napa recruited and returned Muyang's confidence - and he only became better in his first year under coach Bonnie. IAN SANGALANG Before Muyang, there was another Kapampangan who made a living at the post. Sangalang used all of his 6-foot-7 frame to will his way inside and win a championship and an MVP. From the other sidelines, Coach Bonnie had, without a doubt, more than a few headaches thanks to him. JERRICK BALANZA Balanza is the homegrown star turned head surgery survivor. Having gotten through a life-threatening operation, the 6-foot-2 swingman no longer had any fear once he was cleared to play again. And in his last year, he only inspired his teammates to be just as courageous - all the way to the championship. ROBERT BOLICK Bolick was the biggest thorn on the side of Letran in coach Bonnie's turn as team manager. In fact, the 6-foot-1 playmaker went undefeated against San Beda's archrival. And so, coach Bonnie is nothing but relieved that "Big Shot Bolick" is now his lead guard over at NorthPort. JIOVANI JALALON The reason Jalalon was dubbed as "Bus Driver" by ABS-CBN Sports analysts was because he took everybody to school. And on more than one occasion, coach Bonnie and his LPU teams were taken for a ride by the primetime playmaker. --- Follow this writer on Twitter, @riegogogo......»»
Golf makes a conservative return with an eye on the long run
By DOUG FERGUSON AP Golf Writer PGA Tour Commissioner Jay Monahan went from wondering if any golf would be played this year to a schedule that resumes next week with a calendar filled through Thanksgiving. What hasn't changed is his belief that the worst of the COVID-19 pandemic isn't over just because golf is back. “I don't think it's over," Monahan said Friday in a telephone interview. “I'm really confident in the plan. But you spend a lot of your time, given the uncertainty, thinking through scenarios that could play out. That's what we'll continue to do. We won't be comfortable until we're told we can be comfortable. That will be when we have a vaccine and there's no risk.” Golf is the second major sports league to return behind NASCAR, which began racing three weeks ago and ran nine national series races in a span of 14 days. The Charles Schwab Challenge next week in Fort Worth, Texas, has one of the strongest fields in Colonial's rich history, starting with the top five players from the world ranking. There will be no spectators for at least a month, even though Texas Gov. Greg Abbott this week moved the state to Phase III in the recovery that allows outdoor events at 50% capacity. “We've developed a safety plan that doesn't include spectators. That's what we stand by,” Monahan said. “We want to have a sustained return. If you think about a run to go through the FedEx Cup, we want to make sure week to week we're not taking on unnecessary risk.” Monahan said he is “not the arbiter of confidence,” rather it comes from guidance of health experts at all levels and a plan that involves testing players, caddies and essential personnel as much as twice a week — trying to create a bubble for the traveling circus that is golf. Players were mailed a test kit and were recommended to use it before they travel. They will be tested when they arrive at tournaments and before they leave if they're on charter flights the tour has arranged, and then the process is repeated at the next tournament. Thermal readings and health surveys are required daily, along with sanitizing and social distancing. “It's the only manner we could return,” he said. The tour added another layer this week in a deal with South Dakota-based Sanford Health to have mobile labs at every tournament, with capacity to get results in a matter of hours without taking away resources from the markets where they play. Monahan said CBS Sports is creating its own bubble for the telecast, with Jim Nantz the only person in the booth and other analysts working remotely. Ninety days will have passed from the opening round of The Players Championship, which was canceled the next day, until the first tee shot at Colonial. “We all went home dealing with the same questions,” he said. “How do I get a complete understanding of where we are with the virus and all the elements? How do we recognize that we're turning off (canceling) 11 events? How do you think about resumption and at the same time develop a safety and testing program, not our area of expertise?" The reset began with the majors picking new dates — the British Open was canceled — with the PGA Championship in San Francisco moving to Aug. 6-9, the U.S. Open in New York on Sept. 17-20, and the Masters on Nov. 12-15. “At that time it was very unclear where we would be with safety and testing,” Monahan said. “It could have been earlier than we are, it could have been through points of next year. Information was changing by the minute.” Now that golf is returning, Monahan couldn't predict when spectators would return. He said the tour has worked with tournaments the last several years on building a reserve fund for a crisis such as this. “If you’re not selling tickets, and there’s not hospitality, you don’t have the pro-am experience or the honorary observer program for the sponsor ... that’s a significant financial impact on those tournaments, and the impact on the way tournaments connect with their communities,” he said. Tournaments and their title sponsors still have managed to raise money for their local charities. The Zurich Classic matched last year's donation of $1.5 million to a children's services foundation. The John Deere Classic expects $10 million in donations, even though it canceled its July event. The pandemic is not the only talking point as golf tries to get back on track. The tour on Friday posted Monahan's letter to staff and players on the nation's civil unrest, which the AP first reported on Tuesday. He had a 10-minute video conversation with Harold Varner III, one of three PGA Tour members of black heritage, who wrote passionately on social media on George Floyd, killed when a white police officer held a knee to the back of Floyd's neck while the black man was handcuffed. The conversation was scheduled before the protests began, and Varner was chosen because he's on the Player Advisory Council and golf was ready to resume. “We'll be talking about COVID and civil and social unrest for some time,” Monahan said. “Next week will not be an exception on that front.”.....»»
Willie Revillame to return to TV via TV5 — Cristy Fermin
Veteran showbiz columnist Cristy Fermin confirmed that Willie Revillame is making his television comeback through TV5......»»
Numerous Individuals and Businesses Profit from Trump Media Stock
Former President Donald J. Trump’s social media company, Truth Social, had a successful first official trading session on the Nasdaq, with shares surging and approaching.....»»
ANZ raises Philippine inflation forecast to 3.8% this year
ANZ Research hiked its inflation forecast for the Philippines to 3.8 percent this year, from 3.5 percent previously, as risks may drive inflation up to above the central bank’s two to four percent target in the coming months......»»