economy

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Economic growth around the world is likely to be the slowest this year since the global recession of a decade ago. That word came from the International Monetary Fund Tuesday — and the news came under close examination in the Asia Pacific.

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WASHINGTON — The U.S. unemployment rate fell to 3.5% in September, the lowest level in nearly five decades, even though employers appeared to turn more cautious and slowed their hiring.

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WASHINGTON — Federal Reserve Chairman Jerome Powell said Friday that the U.S. economy is facing some risks at the moment, but overall it is in a "good place" and the Fed's main job is to "keep it there as long as possible."

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Fewer babies are being born in Hawaii than at any time in the past 10 years. At the same time, more people are leaving the state than moving here.

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Honolulu Mayor Kirk Caldwell sought to reassure the public on Monday that the city has enough money to cover the operational costs of the controversial rail project.

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The Federal Reserve cut interest rates Wednesday to help the slowing national economy. Meanwhile, researchers say Hawaii's economy is already weak, and the state is growing more vulnerable to global events.

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If the threat of a recession gives you pause when it comes to your personal finances, remember now is a time to prepare, not panic.

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It’s been a volatile week on world stock markets. Investors have focused on slowdowns in China and Europe, but other economic developments are taking place in the Asia Pacific.

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The standoff on Mauna Kea enters week five Monday as protesters continue to block the summit road to prevent construction of the Thirty-Meter Telescope. TMT supporters say if the telescope isn’t built, that could jeopardize employment opportunities for islands residents.

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President Trump has announced a new round of trade tariffs against China. The 10% charge on another 300-billion dollars of Chinese goods will go into effect next month. It’s another escalation of trade tensions between the United States and China, but what’s the impact on the rest of Asia?

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Hawaii Island took an economic hit following last year’s natural disasters, and the recovery has been a slow one. Miles Yoshioka is the Executive Officer of the Hawaii Island Chamber of Commerce. In a recent op-ed he made the case for increasing the Big Island’s economic resilience by expanding the astronomy industry.

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Economists at the University of Hawaii have done statewide economic forecasts for years. But now they’re extending that research to the county level.

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NEW YORK — The lowest unemployment rate in a half century. More than 260,000 new jobs. And higher hourly wages. "I'll be running on the economy," President Donald Trump declared on Friday. And why wouldn't he?

 

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A new report from the University of Hawai‘i’s Economic Research Organization looks at Hawaii’s 2019 economic forecast. The report sees growth, but less of it.

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What’s ahead for the local economy? This week, Pacific Business News consulted with industry leaders and economists about what 2019 will bring to Hawaii.

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Philippine President Rodrigo Duterte arrived in Indonesia earlier today to attend the annual ASEAN summit. He left rumors of serious health problems swirling in Manila, but the controversial leader does have one serious problem for sure – the economy.

Hawaiʻi has all the ingredients for a thiving clean energy economy – high energy prices and an abundance of renewable energy sources. But persuading local youth to stay in the islands and help build this economy will be one of the state’s biggest challenges. HPR’s Kuʻuwehi Hiraishi has more.

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In a speech in Australia, Papua New Guinea’s Prime Minister rejected a report that said ExxonMobil’s huge natural gas project had failed to live up to promises. Peter O’Neill dismissed the report as “fake news” – though he also admitted that he hadn’t read it. We have more from Neal Conan in today’s Pacific News Minute.

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Wikimedia Commons

The economy of Hawai‘i’s top international tourist market continues to show strength. Business confidence in Japan is the latest figure to reach its highest level in more than a decade. HPR’s Bill Dorman has more in today’s Asia Minute.

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Wikimedia Commons

A new website can now show you the economic impact the U.S. military has in the islands.

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Wikimedia Commons

The International Monetary Fund has updated its outlook for the world economy – with a more optimistic tone. Part of that is due to expectations of stronger growth in the Asia Pacific. HPR’s Bill Dorman has more in today’s Asia Minute.

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Wikimedia Commons

  Hawaii’s economic growth is predicted to slow down, with an exception in one key sector. PBN editor-in-chief A. Kam Napier has more.

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Wikimedia Commons

Anyone who’s familiar with the Philippines knows about the concept of sending money home from overseas. It’s become a critical part of the Philippines economy—and it’s growing. HPR’s Bill Dorman has more in today’s Asia Minute.

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Wikimedia Commons

As you heard earlier on NPR, South Korea has a new president this morning. Moon Jae-in took office immediately following his election victory. And while much attention is focused on relations with North Korea, Moon will also be dealing with another important story: South Korea’s economy. HPR’s Bill Dorman has more in today’s Asia Minute.

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Wikimedia Commons

  2017 should be another positive year for Hawai‘i’s economy, despite slowing growth in the construction sector. That’s the view of a local economic forecast group—and we have details from Pacific Business News editor-in-chief A. Kam Napier.

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Pixabay

Hawai‘i and Japan share a number of cultural and economic connections. One you might not think about is unemployment. The jobless rate is relatively low in both places—but that doesn’t mean all is well with the economy. HPR’s Bill Dorman has more in today’s Asia Minute.

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Wikimedia Commons

The latest visitor arrival numbers for the state will come out next week from the Hawai‘i Tourism Authority. But a broader look at the travel picture shows that worldwide tourism continues to grow faster than the global economy. And the star of the show remains the Asia Pacific. HPR’s Bill Dorman has more in today’s Asia Minute.

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There are many ways to identify factors that spark economic development. Businesses and investment capital can create jobs. Consumer spending can boost an economy. And according to a new study from Australia, a good surf break can also make a difference.

Tracy O / Flickr
Tracy O / Flickr

President Trump talked about economic growth in his address to a joint session of Congress. Figures out Tuesday showed the U.S. economy grew at a rate of 1.6 percent last year—its weakest performance since 2011. In Asia, the latest economic figures continue to show faster growth—but the future carries some question marks. HPR’s Bill Dorman has more in today’s Asia Minute.

MsSaraKelly / Flickr
MsSaraKelly / Flickr

A new drug is coming on the market in Japan that reflects a growing trend. It’s a treatment for a chronic disease, but not for humans. HPR’s Bill Dorman has more in today’s Asia Minute.

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