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China's growth slows to 6% in third quarter, weakest in 27 years

Oct 18, 2019 - 4:07 PM

With China a key driver of global growth, the soft reading adds to concerns about the world economy and prompts speculation that authorities will unveil fresh stimulus following a series of other measures in recent months

SLOW DOWN. This file photo taken on September 24, 2019 shows employees producing down coats at a factory for Chinese clothing company Bosideng in Nantong in China's eastern Jiangsu province. AFP Photo

IMF sharply cuts Iran, Saudi growth forecasts for 2019

Oct 16, 2019 - 12:15 PM

The International Monetary Fund expects Iran's economy to contract by a massive 9.5% in 2019, while the growth forecast for Saudi Arabia is cut to just 0.2%

IMF cuts 2019, 2020 eurozone growth outlook as Germany lags

Oct 16, 2019 - 10:55 AM

The International Monetary Fund says Germany, Europe's biggest economy, is laid low by a slumping auto market

IMF trims 2019 China growth forecast as U.S. tariffs bite

Oct 16, 2019 - 9:15 AM

The International Monetary Fund now expects China's economy to grow 6.1% in 2019, instead of the 6.2% previously forecast

Construction workers buy snacks at a food stall in Beijing's central business district on January 18, 2019. - China's economy grew at its slowest pace in almost three decades in 2018, analysts in an AFP poll said on January 18, as the government struggles to contain ballooning debt and a bruising trade war with the United States. (Photo by GREG BAKER / AFP)

Global economic outlook 'precarious,' no room for mistakes, IMF warns

Oct 15, 2019 - 11:34 PM

The US-China trade war alone is estimated to shrink the world economy by 0.8% in 2020, the International Monetary Fund says

GLOBAL ECONOMY. The International Monetary Fund logo is seen 05 April 2007 in Washington, DC.  File photo by Tim Sloan/AFP

China inflation surges in September 2019 as pork prices soar

Oct 15, 2019 - 8:50 PM

Inflation in China hits 3% in September 2019, the highest since November 2013

A customer (L) shops for pork at a market in Beijing on October 15, 2019. - China's consumer inflation accelerated at its fastest pace in almost six years in September as African swine fever sent pork prices soaring nearly 70 percent, official data showed on October 15. (Photo by WANG Zhao / AFP)

China imports, exports down in September 2019 as growth cools

Oct 14, 2019 - 4:10 PM

China's imports dive 8.5% while exports drop 3.2% in September 2019, amid its trade war with the United States

MANUFACTURING. Workers produce desks at a factory in Nantong in China's eastern Jiangsu province on September 4, 2019. Photo by AFP

Singapore eases monetary policy, avoids recession

Oct 14, 2019 - 3:30 PM

It is the first time in over 3 years that Singapore is easing monetary policy

Photo from Shutterstock

Ecuador protest talks set for Sunday as capital locks down

Oct 13, 2019 - 3:27 PM

Rolling demonstrations leave 6 people dead and nearly 2,100 wounded or detained

CLASHES. Peasants and indigenous people arrive at Santo Domingo square in Quito on October 7, 2019 following days of protests against the sharp rise in fuel prices sparked by authorities' decision to scrap subsidies. Photo by Cristina Vega/AFP

Philippines to miss 2019 economic growth target – World Bank

Oct 10, 2019 - 10:05 PM

Global trade tensions and domestic politics spoil the Philippines' dream to be among Asia's economic juggernauts

Zimbabwe quadruples electricity price as crisis deepens

Oct 10, 2019 - 2:50 PM

Zimbabwe is dealing with hyperinflation which has seen many families living on a single meal a day

A young Zimbabwean boy does his homeworks under a candle light in Harare on June 26, 2019. - Zimbabwe -- where the economy has recently lurched into a fresh bout of crisis -- introduced rotational power cuts of up to 19 hours a day earlier this year, forcing many to do their ironing or cooking in the dead of night. (Photo by Jekesai NJIKIZANA / AFP)

New IMF chief Georgieva says world suffering 'synchronized slowdown'

Oct 08, 2019 - 11:28 PM

Kristalina Georgieva also calls for a ramp-up in carbon taxes to address the other challenge facing the global economy: climate change

IMF. New IMF Managing Director Kristalina Georgieva, speaks about the key issues to be addressed at the upcoming IMF / World Bank Annual Meetings, at the International Monetary Fund headquarters on October 8, 2019 in Washington, DC. Photo by Mark Wilson/Getty Images/AFP

[ANALYSIS] Why free-falling inflation is not all good

Oct 08, 2019 - 11:32 AM

A sharp drop in inflation is not an unalloyed boon. As they say, keep everything in moderation.

Zimbabwe raises oil prices by more than 25%

Oct 07, 2019 - 2:05 PM

A full tank of fuel in Zimbabwe now costs more than a month's salary for a cook or a maintenance worker, and more than half a month's salary for a doctor

Motorists form a long queue with their vehicles at a petrol station at dusk in Harare on September 10, 2019, during an ongoing nationwide fuel shortage. - Fuel in Zimbabwe is in short supply and its price has been increased more than six times since the start of 2019 -- as have prices for several other goods. (Photo by TONY KARUMBA / AFP)

As U.S. factories falter, White House insists economy like 'a rock'

Oct 06, 2019 - 11:55 PM

American manufacturers are closing down and announcing job cuts, but the US government says the economy and manufacturing are both 'strong as a rock'

LAWRENCE, MASSACHUSETTS - AUGUST 16: Old factories sit along the railroad tracks in Lawrence on August 16, 2019 in Lawrence, Massachusetts. Lawrence, once one of Americas great manufacturing cities with immigrants from around the world coming to work in its textile and wool processing mills, has struggled to find its economic base since the decline of manufacturing. Despite a strong national economy, Lawrence, and many mid-size American cities and towns, are struggling with persistent joblessness, an opioid epidemic and a lack of affordable housing. While Lawrence is witnessing pockets of investment, many of its residents are facing economic hardship. Currently one-third of Lawrence's children live in poverty, 36 percent of residents receive aid under the Supplemental Nutrition Assistance Program and just over 24 percent of residents live in poverty. Spencer Platt/Getty Images/AFP

Inflation cools to 0.9% as rice prices drop in September 2019

Oct 04, 2019 - 9:02 AM

(UPDATED) Rice prices drop further in September 2019, but still not as low as the economic team had hoped

Zimbabwe's leader begs for patience to fix ailing economy

Oct 02, 2019 - 12:35 PM

Zimbabwe's economy has been badly suffering for two decades, but the last 12 months are the worst decline in 10 years

A customer buys cooking oil at a stall where smaller than standard measures of cooking oil is sold at Harare Mbare Musika marketplace on July 15, 2019. - Zimbabwe's annual inflation rate hit 175 percent in June, official data showed on July 15, 2019, stoking fears of a return of the hyperinflation that wiped out savings ten years ago when the economy collapsed. Supplies of essentials such as bread, medicine and petrol have regularly run short in the country as price increases hit their fastest pace since the government was forced to abandon the Zimbabwe dollar in 2009. (Photo by Jekesai NJIKIZANA / AFP)

Protests in Lebanese capital over deteriorating economy

Sep 29, 2019 - 11:33 PM

Lebanon's finance ministry says the country's public debt stands at around $86 billion, more than 150% of the gross domestic product

PROTESTS. Lebanese protesters shout slogans during a demonstration in central Beirut's Martyr Square on September 29, 2019. Photo by Anwar Amro/AFP

U.N. calls for 'Global Green New Deal' to boost world economy

Sep 26, 2019 - 4:35 PM

The United Nations says countries must enable trillions of dollars in public sector investments to help reboot the global economy and counter climate change

ADB sees Philippines still hitting 2019 economic growth target

Sep 25, 2019 - 1:50 PM

The Asian Development Bank cuts its growth outlook for the Philippines to 6% in 2019, just clinging on to the lower end of the government's target band

Over $1 billion in hot money flees Philippines

Sep 20, 2019 - 12:25 PM

Foreign portfolio investments post a net outflow of $1.1 billion from January to August 2019, reversing the net inflow of $602 million in the same period last year

[OPINION] Navigating the new globalization

Sep 19, 2019 - 5:30 PM

It is only through cultivating a high-trust society that this whole-of-society approach to development could work

U.S. Fed cuts key interest rate a quarter point, citing 'uncertainties'

Sep 19, 2019 - 12:40 PM

The United States Federal Reserve lowers the benchmark interest rate by 25 basis points to a target range of 1.75% to 2%, but its policy committee is divided

RATE CUT. United States Federal Reserve Chairman Jerome Powell speaks during a press conference after a Federal Open Market Committee meeting in Washington, DC, on July 31, 2019. Photo by Andrew Caballero-Reynolds/AFP

Online gambling contributes P551 billion to Philippine economy yearly

Sep 17, 2019 - 12:10 PM

Philippine offshore gaming operators (POGOs) now bring more cash to the local economy than business process outsourcing companies, says Leechiu Property Consultants

JACKPOT. A property consultancy firm says online gambling is contributing more cash now more than ever to the local economy. Photo by Jeff Digma/Rappler


Gig economy challenged as California lawmakers approve landmark bill

Sep 11, 2019 - 6:07 PM

Under Assembly Bill 5, workers in California must be designated as employees if their work or performance is controlled by the company, and part of that company's regular business

RALLY FOR RIDESHARE DRIVERS. Ride-share drivers and supporters with the Independent Drivers Guild protest outside New York City Hall as they rally for wage enforcement and a drivers' bill of rights, on September 10, 2019 in New York City. Photo by Drew Angerer/Getty Images/AFP

The state of Britain's economy as Brexit looms

Sep 11, 2019 - 4:20 PM

Here is an assessment of Britain's economy as it prepares to leave the European Union

BREXIT UNCERTAINTY. Union and European flags flutter in the breeze in central London. Photo by Niklas Hallen/AFP

IN CHARTS: Despite slower growth, employment improves in July 2019

Sep 05, 2019 - 4:40 PM

Underemployment falls and more young Filipinos enter the workforce in July 2019

Rising U.S. exports shrink trade deficit; China imports fall

Sep 05, 2019 - 10:15 AM

The United States trade gap narrows by 2.7% to $54 billion in July 2019, the largest drop in 5 months

U.S. TRADE. Chinese shipping containers are stored beside a US flag after they were unloaded at the Port of Los Angeles in Long Beach, California, on May 14, 2019. File photo by Mark Ralston/AFP

U.S. sees 'modest' growth, businesses show 'near-term' optimism – Fed

Sep 05, 2019 - 9:50 AM

The United States Federal Reserve cites trade concerns, but says majority of businesses remain optimistic about the near-term outlook

BUSINESSES. Buildings, both residential and commercial, give form to the iconic Manhattan skyline on June 13, 2019 in New York City. Photo by Spencer Platt/Getty Images/AFP

Inflation continues downtrend at 1.7% in August 2019

Sep 05, 2019 - 9:05 AM

(3rd UPDATE) The inflation rate for August 2019 is even lower than the government's target range of 2% to 4%

Dubai economic slump to persist until 2022 – S&P

Sep 04, 2019 - 8:45 AM

Standard and Poor's expects low oil prices, the US-China trade war, and political turmoil to hurt Dubai's economy

Family drama in the boardroom? Here's how to prevent costly feuds

Sep 01, 2019 - 9:55 PM

An expert gives family-run businesses tips on how to keep their company alive – for everyone's sake

Protests to greet G7 leaders as they discuss Amazon fires, trade

Aug 24, 2019 - 1:15 PM

(UPDATED) United States President Donald Trump and his fellow G7 leaders will meet in France as wildfires rage in the Amazon rainforest and trade tensions heat up

Oxfam activists wearing firefighters costumes and "big head" masks depicting (from 2nd-L) British Prime Minister Boris Johnson, US President Donald Trump, French President Emmanuel Macron, Canadian Prime Minister Justin Trudeau, Japan's Prime Minister Shinzo Abe and German Chancellor Angela Merkel perform druing a demonstration in Biarritz on August 23, 2019, on the eve of the Group of Seven (G7) summit. (Photo by Bertrand GUAY / AFP)

How Hong Kong's protests are affecting its economy

Aug 24, 2019 - 9:00 AM

Today’s protests in Hong Kong will have lasting consequences. While most of them are difficult to anticipate, some of the economic impacts are already being felt and add up to long-term challenges to the city’s prosperity.

DISPERSAL. Police personnel fire tear gas shells to disperse Pro-Democracy protestors in the Sham Shui Po Area of Hong Kong on August 14, 2019. Photo by Manan Vatsyayana/AFP

IMF tells Trump: It's not working

Aug 22, 2019 - 10:31 AM

In unusually blunt language, the IMF blog post says US policy moves are counterproductive, won't achieve the desired results, and will slow the global economy

NOT WORKING. File photo of US President Donald Trump. Photo by Saul Loeb/AFP

[ANALYSIS] Dismal growth: Why is the PH economy losing its momentum?

Aug 15, 2019 - 1:19 PM

Economic managers need to be more forthright about the state of the Philippine economy and not paint a picture of it that is rosier than the data suggest

Tourism in trouble: Hong Kong protests hit economy

Aug 11, 2019 - 11:00 PM

Visitor arrivals and hotel occupancy rates in Hong Kong are down 'double-digit' percentages, as protests continue

Hong Kong leader rules out concessions, warns of economic downturn

Aug 09, 2019 - 10:23 PM

'Compared to the economic downturn caused by SARS that we handled previously, even to the (2008) economic crisis, the situation this time is more severe,' says Carrie Lam

ECONOMY. In this file photo, Chief Executive Carrie Lam speaks during a press conference at the government headquarters in Hong Kong on June 10, 2019. File photo by Anthony Wallace/AFP

Brexit turmoil drives UK economy towards recession

Aug 09, 2019 - 6:02 PM

Gross domestic product fell 0.2% in the April-June period, the first time the economy has contracted in almost 7 years

UK ECONOMY. Union flags fly near the Houses of Parliament, comprising the House of Commons and the House of Lords, in London on March 13, 2017. File photo by Daniel Leal-Olivas/AFP

[ANALYSIS] How Duterte’s whims and caprices hurt the economy

Aug 09, 2019 - 9:05 AM

A common theme seems to thread all these policies: not only do they tend to hurt economic efficiency, they’re also often anti-poor

Bangko Sentral cuts interest rates as growth slows down

Aug 08, 2019 - 4:40 PM

The Bangko Sentral ng Pilipinas brings down the key policy rate to 4.25% to support economic growth

Philippine GDP growth still below target at 5.5% in Q2 2019

Aug 08, 2019 - 10:02 AM

(UPDATED) The Philippine government's economic team must play catch up, as growth slows down again in the 2nd quarter of 2019 – the lowest in 17 quarters

Inflation remains low at 2.4% in July 2019

Aug 06, 2019 - 9:00 AM

(UPDATED) Inflation remains within target for the 6th straight month, but economists warn of the so-called base effect

U.S. Fed cuts key interest rate to 'insure' against global uncertainties

Aug 01, 2019 - 8:15 AM

US President Donald Trump wastes no time in attacking on Twitter, saying the US Federal Reserve's move falls far short of the 'aggressive rate-cutting cycle' he wants

US Federal Reserve Chairman Jerome Powell speaks during a press conference after a Federal Open Market Committee meeting in Washington, DC on July 31, 2019. - The US Federal Reserve cut the benchmark lending rate on Wednesday for the first time in more than a decade, moving to stimulate the economy after a year of sustained pressure from President Donald Trump. Powell signaled Wednesday that the US central bank is not launching a new round of interest rate cuts to boost the economy. With many economists expected at least one more rate cut this year, Powell said the move Wednesday was to "insure" the economy against global uncertainties (Photo by ANDREW CABALLERO-REYNOLDS / AFP)

Eurozone growth slows to 0.2% in Q2 2019

Jul 31, 2019 - 10:00 PM

An economist says the weak data would strengthen the case of the European Central Bank to announce 'stimulus measures'

Photo from Shutterstock

Hong Kong growth stalls in Q2 2019 amid trade war, protests

Jul 31, 2019 - 9:00 PM

Hong Kong's economy posts 0.6% growth in the 2nd quarter of 2019, with the government blaming a drop in exports and 'sluggish' domestic demand

A general view shows residential and office buildings in Hong Kong on July 30, 2019. (Photo by ISAAC LAWRENCE / AFP)

Villanueva says POGOs only 'kill' the local economy

Jul 31, 2019 - 6:02 PM

Senator Joel Villanueva says Filipino interests are only at a disadvantage with the growing Philippine online gambling operations industry in the country

REGULATE. Senator Joel Villanueva bats for the regulation of POGOs operating in the country. Photo by Angie de Silva/Rappler

U.S. Fed to join ranks of other central banks in stimulating economy

Jul 31, 2019 - 2:45 PM

United States President Donald Trump will certainly cheer a rate cut, but economists are torn

U.S. economic growth slows in Q2 2019, 2018 falls below Trump target

Jul 28, 2019 - 10:05 PM

The growth between the 4th quarter of 2018 and the 4th quarter of 2017 is revised to 2.5% from 3%. United States President Donald Trump had repeatedly hailed the 3%.

Photo from Shutterstock

Johnson says Brexit a 'massive economic opportunity'

Jul 27, 2019 - 8:01 PM

British Prime Minister Boris Johnson promises to step up negotiations on post-Brexit trade deals and set up free ports to boost the economy

BREXIT. In this file photo, activists wave EU flags near the Houses of Parliament in central London on April 10, 2019. File photo by Tolga Akmen/AFP