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Benjie Batanes

Latest Casualties in Chinese Stock Market's Fall: 28 Firms Withdraw IPO Launch

Jul 06, 2015 09:00 AM EDT

A report by the country's exchange officials published on Saturday said that a total of 28 companies have withdrawn their initial public offerings (IPO) from the Chinese stock market mainly because of the market's bearish condition.

Greece Crisis Continues: After Voting No, Country's Future Uncertain

Benjie Batanes |

Jul 06, 2015 08:45 AM EDT

Almost two out three voters in Greece rejected the Eurozone bailout package on Sunday. Many Greeks are hopeful that their leaders can get a better deal from their European creditors and the International Monetary Fund (IMF).

China's Falling Stock Exchange to be Rescued by Additional Investments

Benjie Batanes |

Jul 06, 2015 06:46 AM EDT

A state-owned financial company plans to rescue China's stock exchange by raising capital to buy Chinese stocks, according to the authorities who made the announcement on Sunday.

President Barrack Obama to Set Free Dozens of Federal Detainees

Benjie Batanes |

Jul 04, 2015 11:02 AM EDT

United States President Barrack Obama is set to free dozens of detainees from federal prisons who have been convicted of drug charges but with no violent offenses.

Mixed Results After First Month of Beijing's Smoking Ban

Benjie Batanes |

Jul 04, 2015 08:48 AM EDT

Beijing authorities have collected fines from various violators since smoking ban took effect last June 1. But many still defy the ban as they secretly smoked behind closed doors.

Chinese Stock Brokerage Firms to Invest $19.3 Billion to Calm Market

Benjie Batanes |

Jul 04, 2015 08:19 AM EDT

During a meeting on Saturday, Chinese stock brokerage firms have promised to pump at least $19.3 billion (roughly 120 billion yuan) of their own funds to help calm the stock market, which has lost almost a third of its value since the middle of June.

Greece Debt Crisis Update: Showdown Between 'Yes' and 'No' Voters This Sunday

Benjie Batanes |

Jul 04, 2015 07:50 AM EDT

Greek voters are set to choose whether to accept or reject the terms set by its creditors this Sunday. Experts say a rejection of the creditor's terms may mean the ejection of Greece form the Eurozone.

South Korea to Pump $20 Billion in Economy Hard Hit by MERS

Benjie Batanes |

Jul 03, 2015 10:27 AM EDT

South Korea has announced this Friday, July 3 its plans to pump at least $20 billion in its economy which has suffered due to the Middle East Respiratory Syndrome (MERS) virus.

BP Agrees to Pay $18.7 Billion to Settle 2010 Oil Spill Case

Benjie Batanes |

Jul 03, 2015 07:39 AM EDT

BP has finally reached a deal with the United States government by agreeing to hand over $18.7 billion that will settle all federal and state claims against the company's culpability in the 2011 oil spill disaster.

China Stocks Fall as Regulators Launch Investigation into Allegations of Manipulation

Benjie Batanes |

Jul 03, 2015 06:59 AM EDT

Chinese authorities on Thursday announced that they will look into allegations that the recent losses suffered by the stock market may have been caused by price manipulations conducted by some unknown persons or organizations.

Philippine Passenger Boat Capsizes: Rescuers Still Searching For Survivors

Benjie Batanes |

Jul 02, 2015 10:21 AM EDT

A Philippine passenger boat with 189 people on board has capsized off the coast of Ormoc City around noon on Thursday. Authorities are still attempting to determine if bad weather or human error caused the deadly accident.

China Permits Pension Funds to Invest in Stocks

Benjie Batanes |

Jul 02, 2015 07:14 AM EDT

China's central government has given its permission for pension funds to buy stocks in the hope that the fresh influx of money can reinvigorate the battered stock market. Authorities released the related guidelines on Monday.

Asian Stock Markets Advance – Except China Despite Incentives

Benjie Batanes |

Jul 02, 2015 04:51 AM EDT

Stocks markets across Asia were in positive territory as of Wednesday, July 1, in spite of the lingering Greek debt crisis. However, the Shanghai Stock Index was down by around five percent despite additional incentives provided from the government.

Greece Appears Willing to Concede to Creditor's Demand as Country Fails to Repay IMF Loan

Benjie Batanes |

Jul 01, 2015 10:27 AM EDT

Greek Prime Minister Alexis Tsipras has informed his country's creditors of his willingness to agree to most, if not all, their demands as Greece failed to repay its loan to the International Monetary Fund (IMF) due on Tuesday.

China Announces Completion of Land Building Project in Nansha Islands

Benjie Batanes |

Jul 01, 2015 07:58 AM EDT

A Chinese government spokesperson announced the completion of China's land building project in the disputed Spratly Islands on Tuesday. The announcement was aimed to calm the other countries who also have claims to those group of islands.