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Asian shares mixed after China stabilizes currency

Yuri Kageyama , The Associated Press Published Tuesday, August 6, 2019 11:36PM EDT Last Updated Wednesday, August 7, 2019 2:27AM EDT TOKYO — Asian shares were mixed Wednesday as markets calmed after China’s decision to stabilize its currency. Japan’s benchmark Nikkei 225 lost 0.2% to 20,543.35 in afternoon trading. Australia’s …

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Three-way pact signed for competition probes

By JORDEENE B. LAGARE August 06, 2019 THE Philippine Competition Commission (PCC) has signed a memorandum of agreement (MoA) with the Energy Regulatory Commission (ERC) which would pave the way for the inquiry on alleged connivance in the country’s energy sector. In a statement on Monday, the PCC said the …

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Farmgate price of palay drops in 3rd week of July

By EIREENE JAIREE GOMEZ August 06, 2019 Following a slight price increase in the previous week, the average farmgate quotation of palay (unmilled rice) dropped in the third week of July, reaching P17.80 per kilo, the Philippine Statistics Authority (PSA) said. In its weekly update on palay, rice and corn …

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Govt still eyes UCPB stake recovery

By MAYVELIN U. CARABALLO, TMT August 06, 2019 THE government still plans to recover its stake in United Coconut Planters Bank (UCPB), but not by privatizing the state-owned lender, Finance Secretary Carlos Dominguez 3rd said. Dominguez told reporters late last week that the government still had a stake of “about …

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Peso 2nd strongest Asian currency

By MAYVELIN U. CARABALLO, TMT August 06, 2019 THE Philippine peso has emerged as the second strongest currency in Asia as of last month, the Department of Finance (DoF) reported on Monday. In an economic bulletin, the Finance department said the local currency appreciated by 2.82 percent against the US …

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Yuan drop, trade war drag PSEi to new low

By ANGELICA BALLESTEROS, TMT August 06, 2019 THE stock market fell to its lowest level in more than two months on Monday, with analysts blaming it on the depreciation of the Chinese yuan and the trade war between the United States and China. Traders work at the New York Stock …

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PH growth likely still below 6% in Q2 – poll

By ANNA LEAH E. GONZALES August 06, 2019 THE Philippine economy likely grew at a slower pace in the second quarter of 2019 than a year ago due to the continued impact of the delayed approval of this year’s national budget and the election ban on government spending, according to …

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Drop appeal against CSP ruling, ERC told

By JORDEENE B. LAGARE August 05, 2019 THE Energy Regulatory Commission (ERC) was recently urged to implement the rules on competitive bidding in power supply agreements (PSAs), instead of calling on the Supreme Court (SC) to reconsider its ruling on the matter. ERC has filed a motion for reconsideration before …

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