It’s been less than a week since a statewide stay-at-home order largely shut down Hawaii’s economy in an effort to contain the coronavirus. The latest economic projections indicate restarting activity will take much longer.
WASHINGTON — Top-level negotiations between Congress and the White House teetered Sunday on a ballooning nearly $1.4 trillion economic rescue package, as President Donald Trump called for a deal to steady a nation shuttered by the coronavirus pandemic. Treasury Secretary Mnuchin indicated an agreement was within reach, but congressional Democratic leaders raised concerns after a meeting at the Capitol.
WASHINGTON — Three weeks ago, EmpireCLS was heading toward a second straight year of record business. A car service company in New Jersey, Empire couldn’t even find enough chauffeurs and office workers to meet its needs.
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.
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."
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.
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.
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?
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.
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?
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.
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.
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.