
Travel, tourism-related US businesses feel pinch from lower visitor arrivals

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CNA
4 hours ago
- CNA
Philippine annual inflation at 1.4% in June
MANILA :Philippine annual inflation slightly quickened to 1.4 per cent in June, compared to the previous month's 1.3 per cent print, the statistics agency said on Friday, due to the faster pace of increases in utility costs. Economists in a Reuters poll had expected annual inflation of 1.5 per cent last month, within the central bank's forecast range of 1.1 to 1.9 per cent. Core inflation, which strips out volatile food and energy prices, was unchanged at 2.2 per cent in June. Inflation in the first half of the year averaged 1.8 per cent, within the central bank's 2 per cent to 4 per cent target for the year.


CNA
5 hours ago
- CNA
Dollar holds firm against euro, yen as US trade pressure mounts
TOKYO :The dollar held gains on Friday after President Donald Trump got his signature tax cut bill across the final hurdle and pressure mounted on countries to secure trade deals with the United States. The greenback rallied from multi-year lows against the euro and British pound hit earlier in the week after stronger than expected U.S. jobs data pushed out the timing for potential rate cuts by the Federal Reserve. New Zealand's kiwi dollar, a common proxy for risk appetite, rose 0.2 per cent to $0.608 after U.S. stocks climbed to new record levels. The Republican-controlled House of Representatives narrowly passed Trump's "One, Big, Beautiful Bill" of spending and tax cuts that is estimated to add $3.4 trillion to the nation's $36.2 trillion debt. With the U.S. closed for Independence Day, attention turns to Trump's July 9 deadline when sweeping tariffs take effect on countries like Japan that have not yet secured trade agreements. "The dynamic is raising questions about fiscal sustainability and bond market stability," said Kyle Rodda, senior financial markets analyst at referring to the bill's passage. "However, for now, those risks are being looked through as the markets embrace signs of labour market resilience and hopes for further U.S. trade deals." The dollar index, which tracks the greenback against major peers, had its worst first half since 1973 as Trump's chaotic roll-out of sweeping tariffs stoked concerns about the U.S. economy and the safety of Treasuries. Trump said the U.S. will start sending letters to countries on Friday specifying what tariff rates they will face, a shift from earlier pledges to ink individual deals. Against the yen the dollar was traded at 144.69 yen, down 0.2 per cent from late in the U.S. trading day when it surged 0.8 per cent. The euro added 0.1 per cent to $1.1769, while sterling traded at $1.3668, up 0.1 per cent. The Australian dollar fetched $0.6577, up 0.1 per cent in early trade. U.S. Labor Department's closely watch employment report on Thursday showed that nonfarm payrolls increased by 147,000 jobs in June, well ahead of economists' forecast in a Reuters poll for a rise of 110,000. Market expectations that the Fed will leave rates unchanged at its July meeting rose to a 95.3 per cent probability, up from 76.2 per cent previously, according to the CME's Fedwatch tool.


CNA
5 hours ago
- CNA
Insight 2025/2026 - Japan Tourism : Too Much or Not Enough?
45:18 Min Insight 2025/2026 Last year, Japan broke tourism records. It attracted 37 million foreign visitors, the most ever. And now it wants more. But how will the government sell this vision to those who tire of tourists? Insight 2025/2026 About the show: INSIGHT is a one hour long hard current affairs programme that aims to open the minds of viewers to the political, social and economic realities facing today's societies. Every week, a team of producers will bring forward compelling arguments, impartial analysis and penetrating insights into topical issues of the day. What's on the menu are topics of concerns that have set the region talking as well as changing trends and events which impact Asia and beyond. INSIGHT will get you closer to the heart of the issues with insightful interviews and engaging conversations, bringing to you the real story from behind extraordinary experiences.