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Xinhua world economic news summary at 0900 GMT, March 11
TOKYO -- Tokyo stocks closed significantly lower on Monday amid a strong yen and concerns for an overheated market following the overnight losses of tech-related shares in the Wall Street market. Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 868.45 points, or 2.19 percent, from Friday to close the day at 38,820.49, the lowest level since Feb. 21. (Japan-Tokyo Stocks).....»»
European markets plunge on new virus strain
European stocks, oil prices, and the pound slumped Monday as a highly infectious strain of coronavirus in Britain had traders seeking shelter.Sterling lost 1.3 percent against the dollar, with the pound also still being hit as a post-Brexit trade deal between Britain and the EU remained out of reach.The euro gained 1.0 percent against the […].....»»
Envi group urges villages in Panigan-Tamugan Watershed to regulate tourism
DAVAO CITY (MindaNews / 16 January) – An environmental group here on Monday asked the two villages straddling the Panigan-Tamugan Watershed (PTW) to regulate tourist activities after visitors left a pile of garbage there since New Year’s Day. Mark Peñalver, Interfacing Development Interventions for Sustainability (IDIS) executive director, said that barangays should learn to strike […].....»»
Stocks sink on rising geopolitical tensions
The stock market took its deepest plunge for the year as concerns over escalating geopolitical tensions overseas and delayed rate cuts at home prevailed......»»
Concerns conveyed to China over cyber activity
Foreign Minister Winston Peters has confirmed New Zealand's concerns about cyber activity have been conveyed directly to the Chinese Government. "The Prime Minister and Minister Collins have expressed concerns today about malicious cyber activity, attributed to groups sponsored by the Chinese Government, targeting democratic institutions in both New Zealand and the United Ki.....»»
Delivery drivers urge Mayor Baste for business permit exemption
Title: Delivery Drivers Seek Exemption from Business Permit Requirement A group of delivery drivers in Davao is urging Mayor Sebastian Duterte to exempt them from the mandatory business permits. The drivers, including those from various delivery apps such as Grab and FoodPanda, are concerned about the financial burden imposed by the business permits, which range from P2,000 to P6,000. They argue that this requirement is unique to Davao City among all cities and provinces in the Philippines. Grab rider Rolando Atico emphasized the need for solidarity among all delivery drivers, regardless of the app they work for. He urged fellow drivers to support each other, as the financial impact may extend beyond just Grab and FoodPanda. Atico also requested Mayor Duterte to reconsider the requirement and reinstate the previous occupational permit, which only cost P125. The group is facing a 30-day deadline to obtain the business permits, and they are citing financial constraints as a reason for their request for an extension. Failure to comply could result in their removal from the delivery platforms, jeopardizing their livelihoods. Additionally, they are advocating for changes to Davao City's Revenue Code, proposing a model similar to Cebu City, where only an occupational permit is required. The drivers are also calling for an inquiry into the lack of transparency and unilateral actions of food delivery companies, particularly concerning rider capitalization and financial concerns. They believe that a thorough investigation will help ensure fairness and equity in their financial obligations and working relationship with the delivery companies. Maribel Paguican, the Business Bureau officer-in-charge, stated that non-certified delivery riders categorized as service contractors must obtain a business permit. She mentioned two permits for occupational and business activities, with a discounted structure for delivery riders. However, concerns have been raised about increased taxes, potentially ranging from P3,000 to P6,000, along with an additional tax on top of the declared income of P1,400. The delivery drivers' plea for exemption from the business permit requirement reflects their concerns about the financial impact and the potential threat to their livelihoods. Their call for solidarity and support from fellow drivers highlights the urgency of the situation. This story sheds light on the challenges faced by delivery drivers in Davao and the implications of the business permit requirement on their financial well-being. It also underscores their efforts to seek fairness and equity in their working relationship with the authorities and delivery companies......»»
Stocks rebound on encouraging GDP numbers
Local stocks rebounded from a two-day slump after Philippine economic growth was reported at 5.6 percent yesterday......»»
Go pushes reforms to address concerns
The newly created Office of the Special Assistant to the President for Investment and Economic Affairs is spearheading programs and reforms to address investor concerns and streamline processes......»»
Stocks extend losing streak
Local stocks continued its descent as investors took a cautious approach ahead of the Bangko Sentral ng Pilipinas policy meeting......»»
Stocks advance anew on rosy corporate earnings
Local stocks advanced for a second consecutive session as rosy corporate earnings provided a boost to investor sentiment......»»
Stocks rebound as Wall Street bounces back
Local stocks bounced back yesterday to close the week on a positive note as the local bourse mirrored gains in the US market......»»
Philippine stocks fall as investors realign holdings
Local stocks tumbled yesterday ahead of month-end realigning of portfolios......»»
Stocks snap 3-day rally as investors take profits
Local stocks took a breather yesterday, ending a three-day rally as investors cashed in on the market’s recent gains......»»
Philippine stocks rise after Wall Street gains
Philippine stocks rose yesterday, mirroring gains in the US market......»»
Stocks move in step with Asia-wide rally
Local stocks recovered yesterday, moving in step with Asian peers, ahead of US inflation data that could influence the Federal Reserve’s thinking on rate cuts, while the crypto world got a boost after exchange-traded funds to track Bitcoin were approved in the United States......»»
Philippine stocks advance following Wall Street rally
Philippine stocks bounced back yesterday, aligning with the recovery in Wall Street......»»
Filipino pugs plunge back into training for 2nd Olympic qualifiers
There's no rest for the weary as the Association of Boxing Alliances in the Philippines (ABAP) already laid out plans for its coming campaign in the 2nd World Qualification Tournament set in Bangkok, Thailand from May 23 to June 3......»»
Go, Singson mark pro debut at LPGT Apo
Former national team standouts Lois Kaye Go and Mafy Singson take the eagerly anticipated plunge into the professional ranks, bolstering the already formidable cast in the ICTSI Apo Golf Classic, which reels off tomorrow at the Apo Golf and Country Club in Davao City......»»
Go, Singson debut as pros in LPGT Apo golf tilt
Former national team standouts Lois Kaye Go and Mafy Singson take the eagerly anticipated plunge into the professional ranks, bolstering the already formidable cast in the ICTSI Apo Golf Classic, which reels off Tuesday, March 12, at the Apo Golf and Country Club in Davao City......»»
Onion prices plunge; DA suspends imports
The Department of Agriculture has ordered the suspension of onion imports as the farmgate price of white onions went down to P18 per kilo amid the flooding of imported bulbs......»»