Job cuts at western investment banks in Asia are expected to increase this year as revenue pressures rise due to deepening economic and market turmoil in China, even as deal prospects brighten in Japan and India, headhunters and bankers said.
Shares on Wall Street and in Europe fell on Monday and government bond yields jumped as traders amended their expectations of a near-term U.S. interest rate cut.
Oil prices nudged higher on Monday, recovering from sharp falls last week, after Washington pledged to launch further strikes on Iran-backed groups in the Middle East and as Ukrainian drones struck southern Russia's largest refinery.
Amazon.com AMZN.O beat fourth-quarter revenue expectations on Thursday as new generative AI features in its cloud and ecommerce businesses spurred robust growth during the critical holiday period, sending its shares up 8 percent after the market close.
Parboiled rice export prices from India extended their record rally this week, driven by tight supplies and firm demand due to higher prices in other hubs, while Thai rates slipped as new supply from fresh harvests trickled in.
NVIDIA, the global leader in artificial intelligence and accelerated computing, is investing USD1 billion in Finnish technology firm Nokia as part of a sweeping strategic partnership to develop artificial intelligence-powered wireless infrastructure, sending both companies’ shares soaring Tuesday.
The local currency the peso weakened further on Tuesday, closing at ₱59.13 against the US dollar, as investor concerns grew over the country’s economic outlook and government spending slowdown.
Filipinos are far from fully prepared for retirement, according to the first-ever InLife Retirement Index, which gave the country a score of 47 out of 100.
The Aurora Pacific Economic Zone and Freeport Authority (APECO) signed a tripartite memorandum of agreement (MOA) with Yooshin Engineering Corporation of South Korea and Lordsbridge Resources Corporation of the Philippines to develop the Casiguran International New Port, a flagship infrastructure project aimed at establishing Aurora as a key maritime gateway to the Pacific.