News

Economic recovery in the Philippines’ is expected to remain robust amid high inflation and weaker external demand, according to the ASEAN+3 Macroeconomic Research Office’s (AMRO) 2023 Annual Consultation Report on the Philippines.AMRO was set up to contribute toward securing macroeconomic and financial resilience and stability of the ASEAN+3 region, comprising 10 members of the Association of Southeast Asian Nations (ASEAN) and China, Hong Kong, Japan and South Korea.The Philippines' economic recovery is expected to remain robust amid high inflation and weaker external demand, according to the ASEAN+3 Macroeconomic Research Office's 2023 Annual Consultation Report on the Philippines. Growth is forecast to moderate to 5.6 per cent in 2023 from 7.6 per cent last year, and to pick up to...

A push by the US to drastically reduce its reliance on mainland China has forced Hong Kong exporters to sever some ties at home and over the border, with firms also cutting down on imports of raw materials due to threats of boycotts, industry leaders have told the Post.But a shippers’ organisation said moves to diversify away from the country would not be easy, as it was an integral part of the global supply chain and difficult to replace. Amid the disruption, manufacturers and brands both locally and abroad said they had to face new business realities, some of which required overhauling operations.Dennis Ng Kwok-on, vice-president of the Chinese Manufacturers’ Association of Hong Kong, told the Post that the United States had started to ask local exporters who recently moved operations to...

The holiday season is upon us, and it’s time to elevate your wardrobe with the best black party dress for the holiday that will turn heads and make a statement. Whether you’re attending a glamorous soiree, a festive gathering, or a New Year’s Eve celebration, I have curated a collection of the best black party dresses that will have you looking chic and ready to slay the night.The Classic Little Black Dress (LBD):Every woman needs a timeless LBD in her wardrobe, and the holidays are no exception. Opt for a classic silhouette that flatters your figure and allows you to accessorize with statement pieces. A knee-length or midi black dress with a hint of sparkle or lace detailing is a versatile choice for various holiday events.Sequin Sensation:Sparkle and shine with a sequin-adorned black par...

The world’s advanced economies are heading into a deepening slowdown as markedly higher interest rates take a hefty toll on activity that could still become more acute, the OECD warned.Growth is losing momentum in many countries and won’t edge up until 2025, when real incomes recover from the inflation shock and central banks will have begun cutting borrowing costs, according to the organization.Inflation eased in Europe, Brazil and Australia in recent readings but remains too high for central bankers’ comfort. Meantime, price pressures accelerated in Japan’s service sector, as well as in Zimbabwe, where officials recently adopted a new inflation metric.Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy:WorldThe Organization fo...

ZURICH: Richemont, owner of jeweller Cartier, said on Wednesday it would not inject any cash into online luxury retailer Farfetch, following a report that the latter was exploring going private.Farfetch founder Jose Neves is considering the move after a troubled New York Stock Exchange listing for the loss-making British company, and is working with advisers at JP Morgan, the Telegraph newspaper reported on Tuesday. The company, in which Neves has a stake of 15%, declined to comment to Reuters on Wednesday.Richemont, which has a deal in place to sell its Yoox Net-A-Porter online fashion and accessories business to Farfetch said it was "carefully monitoring the situation." It said it was reviewing its options around the deal, announced in August 2022, under which it will receive an initial ...

China is keen to work with Japan and South Korea to expedite the resumption of negotiations on the trilateral free trade agreement, the Chinese commerce ministry said recently.As Beijing attaches great importance to the talks for the trilateral agreement, positive conditions have been created for the resumption of the negotiations with the implementation of the Regional Comprehensive Economic Partnership (RECP), said ministry spokeswoman Shu Jueting told a news conference.The three countries have high industrial interdependence and strong economic complementarity.China is keen to work with Japan and South Korea to expedite the resumption of negotiations on the trilateral free trade agreement, the Chinese commerce ministry said recently. Positive conditions have been created for the r...