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BSP taps AMLC to study POGOs

By MAYVELIN U. CARABALLO, TMT August 28, 2019 Bangko Sentral ng Pilipinas Governor Benjanmin Diokno (left) listens as Socio Economic Planning Secretary Ernesto Pernia talks during the 3rd EJAP Economic Forum on Tuesday, August 27, 2019. PHOTO BY RENE DILAN THE Bangko Sentral ng Pilipinas (BSP) has tapped the Anti-Money …

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ERC junks 3 Meralco power agreements

By JORDEENE B. LAGARE August 29, 2019 THE Energy Regulatory Commission (ERC) has dropped the power deals of Manila Electric Co. (Meralco) with three entities following a Supreme Court (SC) ruling mandating firms to subject such agreements to public bidding. The agency granted the joint urgent motion to withdraw the …

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PSEi up on bargain-hunting

By TYRONE JASPER C. PIAD August 29, 2019 The stock market snapped a four-day losing streak on Wednesday as investors opted to bargain-hunt for blue chips. The benchmark Philippine Stock Exchange index (PSEi) climbed by 1.29 percent or 100.12 points to finish at 7,847.50, while the wider All Shares rose …

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DoT chief: POGO concerns won’t affect tourism industry

By LISBET K. ESMAEL August 29, 2019 Bernadette Romulo-Puyat THE Department of Tourism (DoT) assured on Wednesday that uncertainties surrounding Philippine offshore gaming operators (POGOs) and the increased scrutiny they face would not affect the country’s tourism sector. On the sidelines of the launch of her department’s partnership with ride-hailing …

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‘DTI not concerned with Citira issues’

By ANNA LEAH E. GONZALES August 29, 2019 Trade Secretary Ramon Lopez. (TMT File Photo) THE Philippine Economic Zone Authority (PEZA) and the Department of Trade and Industry (DTI) on Wednesday traded accusations and offered differing views on the proposed rationalization of fiscal incentives. In a statement on Tuesday night, …

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‘August inflation eased to 2% on lower prices’

By ANNA LEAH E. GONZALES August 29, 2019 This Aug. 18, 2018 file photo shows a woman inspecting produce at a stall in Manila’s Paco Market. (TMT File Photo) INFLATION likely eased further to 2 percent in August from 2.4 percent the month before on the back of reduced prices …

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Palay price continues to drop in mid-August

By EIREENE JAIREE GOMEZ August 28, 2019 The average farmgate price of palay (unmilled rice) continued to fall as of the second week of August, reaching P17.62 per kilo, the Philippine Statistics Authority (PSA) said. In its weekly update on palay, rice and corn prices, PSA said the latest average …

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DBM: Higher IRA won’t expand budget deficit

By MAYVELIN U. CARABALLO, TMT August 28, 2019 The Department of Budget and Management (DBM) assured on Tuesday that higher transfers from central to local government units (LGU) by 2022 would not incur a higher budget deficit for the government. According to Budget Secretary Wendel Avisado, the fiscal impact of …

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PSEi slides despite hopes of fresh talks

By TYRONE JASPER C. PIAD August 28, 2019 NEWS on the resumption of trade talks between the United States and China failed to buoy the local stock market, which closed in the red territory on Tuesday. The bellwether Philippine Stock Exchange index (PSEi) dropped by 1.80 percent or 142.03 points …

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