Economy

Economy Latest News

Major champions help Philippines chase golf tourist billions
Major champions help Philippines chase golf tourist billions
by  AFP

The Philippines is laying out the red carpet this week to some of golf's biggest names, part of a grand government plan to diversify tourism with sport at the forefront. In conjunction with the top-class field this week, music concerts are part of an entertainment package to send a message that the Philippines should be on every golf tourist's to-do list.

Nexperia, the new crisis looming for Europe's carmakers
Nexperia, the new crisis looming for Europe's carmakers
by  AFP

European automakers already buffeted by US tariffs and a rocky shift toward electric vehicles now face a new threat: a shortage of key semiconductors supplied by Chinese-owned Nexperia. "Without these chips, European automotive suppliers cannot build the parts and components needed to supply vehicle manufacturers and this therefore threatens production stoppages," the group said.

Five things to know about Argentina's pivotal midterm election
Five things to know about Argentina's pivotal midterm election
by  AFP

Two years after a stunning election victory, Argentina's libertarian president, Javier Milei, faces a tough legislative election on Sunday. Facing this "pro-Milei" bloc is the Peronist opposition, in power for 17 of the past 23 years.

Porsche loses almost one billion euros on shift back to petrol
Porsche loses almost one billion euros on shift back to petrol
by  AFP

German sports car maker Porsche sunk to a third-quarter loss of almost one billion euros ($1.16 billion), the firm said Friday, as it grappled with the costs returning to petrol and delaying its electric vehicle (EV) rollout. Porsche in September said it would delay the introduction of some fully electric cars and extend the life of some combustion engine and hybrid models.

P&G profits rise as company sees lower tariff hit
P&G profits rise as company sees lower tariff hit
by  AFP

Procter & Gamble on Friday reported higher earnings fueled in part by an improved performance in China as it projected a lower hit from tariffs. The consumer products giant -- which announced a downsizing in non-manufacturing employment in June in the wake of the tariff onslaught -- now sees a hit of $500 million in fiscal 2026, down from an earlier forecast of $1 billion.

Spain probes steelmaker for alleged trading with Israeli arms firm
Spain probes steelmaker for alleged trading with Israeli arms firm
by  AFP

Spain's top criminal court said Friday it had opened an investigation into executives at steelmaker Sidenor for alleged complicity in crimes against humanity or genocide for trading with an Israeli arms company. UN investigators and several human rights groups, among them Amnesty International and Human Rights Watch, accuse Israel of committing genocide in Gaza.