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Monzon bullish on PSE’s prospects

THE Philippine Stock Exchange (PSE) is optimistic about the market’s prospects for 2019, with bourse’s top official pointing to the country’s economic fundamentals and expectations of lower inflation, among other factors, as luring back investors. PSE President Ramon Monzon “Because of the high inflation that we have experienced in the …

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Mobility improvements to strengthen economy

Fixing the country’s mobility issues could boost economic growth to over 8.0 percent, a speaker at The Manila Times’ 8th Business Forum said on Tuesday. Robert Siy, who served as staff at the World Bank and the Asian Development Bank and is a columnist of the newspaper, said that transportation …

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IKEA expands to PH with biggest store yet

IKEA’s first Philippine store will finally open in late 2020 and will also be the Swedish furniture retailer’s largest outlet worldwide, company officials announced on Tuesday. At 65,000 square meters, the IKEA store — already under construction at the Mall of Asia Complex in Pasay City — will be nearly …

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PH among preferred investment destinations

Investors have tagged the Philippines as one of their preferred Southeast Asian investment destinations, a Pricewaterhouse Coopers (PwC) Philippines executive said during The Manila Times’ 8th Business Forum on Tuesday. “The Philippines remains to be an attractive investment destination and most investors operating within Asean actually tagged the Philippines as …

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DICT, China Telecom eye cable landing station

The government is looking to tap China Telecommunications Corp. — a member of a consortium recently named as the country’s third major telco — to build a cable landing station that an official said would further reduce a dependence on the PLDT-Globe duopoly. Eliseo Rio Jr State-owned China Telecom on …

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BoP shortfall expands to P5.59B

THE country’s balance of payments (BoP) position remained negative in October, the Bangko Sentral ng Pilipinas (BSP) reported on Monday, boosting the year-to-date deficit to nearly P5.6 billion. The $458-million shortfall was significantly lower than September’s $2.696 billion but wider than the $368 million recorded a year earlier. “Outflows in …

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Stock market surges 2.6% ahead of Xi visit

THE stock market rallied to the 7,200 level on Monday with investors said to be optimistic about Chinese President Xi Jinping’s visit to the country and a possible easing of the US-China trade war. The Philippine Stock Exchange index (PSEi) closed 2.64 percent or 186.92 points higher at 7,270.26. The …

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Senate OKs increase in BSP capitalization

Senators on Monday approved a P150-billion increase in the Bangko Sentral ng Pilipinas’ (BSP) capitalization, noting the need to upgrade the central bank’s resources given changing times. Passed on third and final reading was Senate Bill 1297, which seeks to amend Republic Act 7653 by raising the BSP’s capitalization to …

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Diokno: China open to hiring more OFWs

The Duterte administration expects Chinese President Xi Jinping’s state visit to open more employment opportunities for overseas Filipino workers (OFWs), a Cabinet official said on Monday. Speaking at the weekly Pandesal Forum, Budget Secretary Benjamin Diokno claimed that China was open to hiring about 10,000 OFWs, particularly domestic helpers for …

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Mislatel confirmed as 3rd telco player

A challenger to the PLDT-Globe duopoly was officially declared on Monday with the National Telecommunications Commission (NTC) confirming Mindanao Islamic Telephone Co. Inc. (Mislatel) as the country’s “new major player”. The consortium — composed of Dennis Uy-owned Udenna Corp. and subsidiary Chelsea Logistics Corp. with foreign partner China Telecommunications Corp. …

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