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PSEi down over 1% ahead of policy meets

THE stock market retreated on Tuesday as investors already in wait-and-see mode ahead of Thursday’s Monetary Board meeting were disheartened after China cancelled planned trade talks with the US. The Philippine Stock Exchange index (PSEi) dropped by 1.37 percent or 101.44 points to close at 7,332.17 while the broader All …

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How to manage risks while trading currency

Foreign exchange is inherently characterized by the volatility of other financial markets. Currency pairs can become cheaper or more expensive in a matter of days, hours or even minutes. In order trading remains lucrative, forex traders attach particular attention to the risk management when creating their trading plans. Risk management …

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DoF’s Chua: Package 2 to create ‘millions of jobs’

“Millions of jobs” will be created if the government’s second tax reform package is approved by Congress, a senior Finance department official claimed on Tuesday, rejecting claims that the proposed law could lead to massive layoffs. “[N]umber one, there … [will be a]significant reduction in CIT (corporate income tax) that …

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No talks with US ‘holding knife to throat’

BEIJING: China said on Tuesday it was impossible to hold trade talks with the United States while Washington is imposing tariffs that are like “holding a knife to someone’s throat.” Speaking a day after Washington activated tariffs on $200 billion in Chinese goods, Vice Commerce Minister Wang Shouwen said China …

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Growth forecast cut; slowdown expected

PH economic expansion to ease this year up to 2020 – ANZ Research An Australia-based research firm has cut its 2018 growth forecast for the Philippines and expects a slowdown moving forward as a result of monetary policy tightening. In a report released on Tuesday, ANZ Research said it now …

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Per capita goal near but challenges remain

The Philippines could soon join the ranks of upper middle income economies, a World Bank economist said on Monday, but the country still has a number of challenges to address if it is to meet long-term goals such as eliminating poverty. Socioeconomic Planning Secretary Ernesto Pernia earlier this month said …

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Bargain-hunting lifts PSEi by 0.69%

THE stock market climbed back to the 7,400 level on Monday as investors resumed bargain-hunting ahead of the Federal Reserve and the Bangko Sentral ng Pilipinas’ (BSP) monetary policy meetings. The Philippine Stock Exchange index (PSEi) rose by 0.69 percent or 50.61 points to close at 7,433.61 while the broader …

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PCC tags competition issues in airline sector

The airline industry in the Philippines has benefited from liberalization and deregulation, a study conducted by the country’s antitrust body found, but competition concerns remain and growth is being hampered by infrastructure and other constraints. The Philippine Competition Commission (PCC), in a study released on Monday, noted that travel options …

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The rise of digital serfdom

IF the rosy picture painted by digital financial services giant PayPal is to be believed, the “gig economy”—a vast and growing labor ecosystem of freelance workers—promises a bright future for Philippine millennials. As PayPal and other “gig economy” evangelists describe it, the system is the result of the perfect marriage …

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Budget shortfall narrows to P2.6B

The government incurred a narrower budget deficit in August from a month earlier as both revenue and spending growth slowed, Treasury data released on Monday showed. The month’s P2.6-billion shortfall was much lower than the P86.4-billion gap posted in July but also marked a reversal from the P28.8-billion surplus recorded …

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