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Asia Top News and Analysis Philippines

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  • *Gold falls as much as 4 pct briefly to $1,088.05. LONDON, July 20- Gold prices plunged as much as 4 percent to their lowest in more than five years on Monday as sellers in top consumer China offloaded the metal. "The Asian market missed the action on Friday when U.S. players were already attempting a break of $1,130, a major support level, and has pushed prices much lower...

  • *European shares rise, reversing fall in Asia. LONDON, July 20- The dollar jumped to three-month highs on Monday, extending its recent run of gains as expectations of a U.S. rate rise gathered pace, while gold prices plunged to their lowest in more than five years. Greece- related fears continued to recede as the country's banks reopened for the first time in three...

  • *Gold headed toward fourth straight weekly fall. NEW YORK/ LONDON, July 17- Gold fell to a five-year low on Friday, pressured by a strong dollar and expectations for a U.S. rate hike this year, and as China bought less than expected over the past six years. "The market's saying China's been buying gold but they bought a lot less than what they should have," said Phillip...

  • *Gold headed towards fourth weekly fall. LONDON, July 17- Gold fell more than 1 percent to its lowest in five years on Friday, pressured by a strong dollar and U.S. data that increased bets on a Federal Reserve rate increase this year, while platinum hit lows not seen in more than six years. Platinum broke below $1,000 an ounce for the first time since early 2009 due to...

  • *Gold headed towards fourth weekly fall. LONDON, July 17- Gold fell close to its lowest level in eight months on Friday pressured by a strong dollar and increasing bets on a Federal Reserve rate rise this year while platinum hit lows not seen in more than six years. "Platinum is suffering from low liquidity and the kind of storm has been facing in the past few weeks has...

  • *Gold headed towards 4th weekly fall. MANILA, July 17- Gold languished near its lowest level in eight months on Friday and is set to extend its losing run to a fourth week, pressured by a firmer dollar as expectations grow that the Federal Reserve will raise interest rates this year. Gold has lost nearly 2 percent for the week.

  • *Silver prices fall nearly 2 percent. LONDON, July 15- Gold prices fell to four-month lows on Wednesday, extending losses for a third session as Federal Reserve Chair Janet Yellen said the U.S. central bank remains on track to raise interest rates this year. Spot gold was down 0.6 percent at $1,147.43 an ounce at 1402 GMT, while U.S. gold futures for August delivery...

  • *Yellen to testify before Congress on Wednesday, Thursday. NEW YORK/ LONDON, July 14- Gold eased on Tuesday as the U.S. dollar came off its lows and the market awaited Federal Reserve Chair Janet Yellen's semi-annual testimony to Congress on Wednesday and Thursday, which may provide more signals about a looming rate rise. "The retail sales were dovish today so it's a...

  • *Yellen to testify before Congress on Wednesday, Thursday. LONDON, July 14- Gold steadied on Tuesday, recouping earlier losses, after downbeat retail sales data stoked concern over the outlook for the U.S. economy, knocking the dollar and fuelling uncertainty over the timing of a Federal Reserve rate rise. Traders are awaiting Federal Reserve Chair Janet...

  • *Yellen to testify before Congress on Wednesday, Thursday. LONDON, July 14- Gold eased on Tuesday, extending the previous session's losses, as investors switched attention from the fading prospect of a Greek exit from the euro zone to the potential for a U.S. interest rate increase later this year. "The Greek situation kept gold prices around $1,160- 1,170, but once an...

  • LONDON, July 13- Gold slipped 1 percent on Monday as the dollar rose against the euro after leaders struck a deal to negotiate a Greek bailout, while signals the Federal Reserve was still on track to raise rates this year also weighed. Gold, typically viewed as an alternative investment in times of financial and economic uncertainty, had not seen significant...

  • LONDON, July 13- Gold slipped almost 1 percent on Monday as the dollar rose against the euro after euro zone leaders agreed a roadmap to a bailout for Greece, while signals the Federal Reserve was still on track to raise rates this year also weighed on prices. Gold, typically viewed as an alternative investment in times of financial and economic uncertainty, had not...

  • Industry group the Philippine Solar Power Alliance said it would propose the steps to make it easier to develop projects worth an estimated $4 billion in the pipeline from local firms such as Aboitiz Power Corp and foreign companies like Thailand's Chow Steel Industries PCL. Located right above the equator, the Philippines is blessed with plenty of sunlight...

  • NEW YORK/ LONDON, July 10- Gold gave up earlier gains on Friday after U.S. "looks like a probable interest rate hike scheduled for this year, with or without Greece," said George Gero, precious metals strategist for RBC Capital Markets in New York. Spot gold was up 0.1 percent at $1,160.33 an ounce at 2:33 p.m. EDT.

  • NEW YORK/ LONDON, July 10- Gold gave up earlier gains on Friday, after the U.S. Federal Reserve chair Janet Yellen said she expects the Fed to raise interest rates at some point this year but pointed to concerns that U.S. labor markets remain weak. Spot gold was up 0.1 percent at $1,159.71 an ounce at 12:46 p.m. EDT.

  • LONDON, July 10- Gold scaled higher on Friday, further off a four-month low, as the dollar tumbled against the euro on signs of progress in Greece's efforts to secure fresh funding. Prices touched $1,146.75 on Wednesday, their lowest since March 18, when the dollar was boosted by weakness in the euro on Greece and the tumble in Chinese stock markets.

  • China funds target commodities after slump in equities Wednesday, 8 Jul 2015 | 4:37 AM ET

    HONG KONG/ BEIJING, July 8- Chinese hedge funds have been big short sellers of locally traded commodities, including iron ore, steel and rubber, after redeploying cash from tumbling equity markets where authorities have slapped curbs on trading, fund managers and traders said. There had been forced liquidation on China's commodities markets due to margin calls...

  • SYDNEY, July 8- Circling thousands of feet above Tasmania's farmland in a light aircraft, Christina Nebel prepares to release tiny chemical particles as part of a cloud-seeding scheme estimated to have helped boost rainfall on the Australian island by at least 5 percent. "We are looking for fronts crossing Tasmania," said Nebel, cloud seeding officer at...

  • As El Nino looms, cloud seeding gets tailwind Tuesday, 7 Jul 2015 | 4:59 PM ET

    SYDNEY, July 8- Circling thousands of feet above Tasmania's farmland in a light aircraft, Christina Nebel prepares to release tiny chemical particles as part of a cloud-seeding scheme estimated to have helped boost rainfall on the Australian island by over 10 percent. The programme is one of a handful globally riding a wave of renewed interest in the...

  • What's next for China's 'World Bank'? Tuesday, 30 Jun 2015 | 10:00 AM ET
    Jin Liqun, left, current secretary general of the Multilateral Interim Secretariat of Asian Infrastructure Investment Bank, shakes hands with China's Finance Minister Lou Jiwei ahead of a signing ceremony of articles of agreement of the AIIB, at the Great Hall of the People in Beijing, June 29, 2015.

    How China's new Asian Infrastructure Investment Bank can rival the West's World Bank, says Curtis Chin.