Currency vulnerabilities shifting; peso seen at risk

By ANNA LEAH E. GONZALES April 18, 2019 Currency upheavals similar to those that hit emerging economies last year are unlikely but risks are on the rise for some EMs such as the Philippines, a London-based research consultancy said. “This time last year we warned in our Risk Monitor about …

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Rockwell Land 2018 profit up 20%

By ANGELICA BALLESTEROS, TMT April 19, 2019 ROCKWELL Land Corp. saw its net income grow by 20 percent to P2.5 billion last year from P2.09 billion in 2017 on the back of strong residential sales. Total revenues rose to P15.7 billion in 2018. Of the amount, residential sales accounted for …

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DA targets 90% onion self-sufficiency by 2020

By EIREENE JAIREE GOMEZ April 19, 2019 THE Department of Agriculture (DA) is eyeing to achieve up to 90 percent self-sufficiency for onion production by early next year, with full self-sufficiency targeted before the end of the Duterte administration in 2022. Emmanuel Piñol This goal prompted the DA to also …

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PSE moves forward with tech firm plans

By The Manila Times April 19, 2019 THE Philippine Stock Exchange’s (PSE) plan to establish technology-focused subsidiary has moved forward with the bourse earlier this month inking a shareholders’ agreement setting “forth the terms and conditions with respect to the management” of the IT firm. The deal, the PSE said …

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PH cement supply ‘healthy’ – DTI exec

By TYRONE JASPER C. PIAD April 19, 2019 Cement supplies remain sufficient, a senior Trade department official said, rejecting a property consultancy’s claims of a shortage. “Local manufacturers and importers have a healthy supply inventory,” Trade Undersecretary Ruth Castelo told The Manila Times, adding that the department was “not aware …

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Trump sees ‘successful’ trade talks

By AGENCE FRANCE-PRESSE April 19, 2019 WASHINGTON, D.c.: US President Donald Trump on Wednesday held out hope the current trade talks with China will be a success, and said an announcement on the status was due “shortly.” The president’s remarks followed a report by The Wall Street Journal saying US …

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Hot money outflows could weaken peso

By MAYVELIN U. CARABALLO, TMT April 19, 2019 The exit of speculative funds from the Philippines could reverse the peso’s gains versus the dollar, an analyst said. “Continued moves in this direction could weaken the local currency going forward, which while a boon to exporters, may be detrimental to inward …

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BSP poised to cut rates– HSBC Global Research

By MAYVELIN U. CARABALLO, TMT April 19, 2019 The start of an easing cycle is imminent, HSBC Global Research said, forecasting cuts totaling 50 basis points (bps) this year for the Bangko Sentral ng Pilipinas’s (BSP) benchmark rates. “Taken together with the large amount of ‘policy space’ created by rate …

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