Business News Stories
Brussels says about $24 billion of Russian central bank assets frozen in EU, less than expected
BRUSSELS (Reuters) – European Union states have reported the freezing of about 23 billion euros ($24.5 billion) of assets of the Russian Central Bank, a top EU official said on Wednesday, revealing for the first time a figure that was...
photo: European Community / Claudio Centonze
Stock market rises slightly; PLDT, DMCI lead gainers
The stock market rose slightly Wednesday as traders await members of the incoming Cabinet of assumptive president Ferdinand Marcos Jr. The Philippine Stock Exchange Index added 20.31 points, or 0.3 percent, to 6,597.76 on a value turnover of nearly P6 billion. Losers, however, beat gainers, 107 to...
photo: WN / RTayco
China stocks gain on economic support vows; growth concerns linger
China stocks rallied in late trading on Wednesday to rebound from their worst session in nearly three weeks thanks to Beijing's economic support measures, although gains were capped by worries over slowing growth in the COVID-hit economy. The blue-chip CSI300 index rose 0.6% to 3,983.18, after...
photo: AP / Vincent Yu
Tesla sexual harassment suit to proceed in court, rules US judge
San Francisco: A US judge has denied Tesla’s motion for arbitration in a sexual harassment case, directing that the lawsuit accusing Elon Musk-run electric car company fostering a workplace with “rampant” sexual harassment will continue. Tesla now must defend itself in court...
photo: AP / Mark J. Terrill
New 27 rice varieties developed to suit different climatic conditions of India
In a big push for economic gains through higher productivity for rice growers in India, scientists have developed new rice varieties that suit the different environments of different growing regions in the country and give higher yields. After a series of on-farm trials (OFT) across four...
photo: WN / RTayco
CEB restores 100% pre-pandemic capacity
Cebu Pacific (CEB) has restored 100 percent of its pre-pandemic capacity in time for the summer season, the airline announced Wednesday, May 25. CEB added more flights across its seven hubs in the PhilippinesManila, Cebu, Clark, Cagayan de Oro, Davao, Iloilo and Kalibo – providing passengers with...
photo: WN / RTayco
Saudi Arabia to witness ‘a golden era of hospitality’ in next 10 years
RIYADH: The next 10 years will be a golden era for Saudi hospitality as the country has laid down the foundation of transformation in the sector, according to a top official of Knight Frank in the Middle East and North Africa. “You can call the coming 10 years of Saudi Arabia the golden era of its...
photo: Creative Commons / Ville Hyvönen
Indonesia palm oil export ban reverberated globally
Amid an ongoing , vegetable oils are registering record-breaking highs. According to data compiled by the Food and Agriculture Organization of the United Nations, the price for edible oils rose to almost 250% of standard price levels. Over the past two years, labor restrictions, climate change and...
photo: WN / Emiko Silalahi
Shanghai: world’s biggest port returning to normal
Shanghai is slowly emerging from a grueling Covid lockdown that has all but immobilized the city since March. Although Shanghai’s port, which handles one-fifth of China’s shipping volumes, has been operating throughout, it has been running at severely reduced capacity. Many shipments have been...
photo: Creative Commons
Africa requires commercial agriculture to address food insecurity
Mr Felix Ngmenkaara Darimaani, National Project Coordinator, Savannah Zone Agricultural Productivity Improvement Project (SAPIP), says Africa needs commercial agriculture to address food insecurity. Mr Darimaani, a Development Economist, explained that though subsistence farming - an age long...
photo: UN / Albert Gonzalez Farran, UNAMID

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