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PSEi back at 7,800 as blue chip shares fall

THE stock market fell back to the 7,800 level on Wednesday, led by a decline in shares of blue chips SM Prime Holdings Inc. (SMPH) and Ayala Corp. (AC). The bellwether Philippine Stock Exchange index (PSEi) dropped by 1.86 percent or 148.72 points to close at 7,864.70. The wider All …

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Economy to slow this year – HSBC

HSBC believes the Philippine economy will grow at a much slower pace this year on the back of still weak exports and cautious private investments. Gross domestic product (GDP) growth is expected to moderate to 6 percent this year from an estimated 6.2 percent in 2018, said Cheuk Wan Fan, …

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2018 growth likely hit target – Diokno

Economic growth likely hit the lower end of the government’s downwardly revised target last year, a Cabinet official said on Wednesday. “The economy is projected to have grown by at least 6.5 percent in 2018,” Budget Secretary Benjamin Diokno said in a briefing. Budget Secretary Benjamin Diokno. PHOTO BY DJ …

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Govt to relax rules on sugar shipments

The government is planning to deregulate or relax regulations on sugar imports this year, Budget Secretary Benjamin Diokno announced on Wednesday. In a press briefing, Diokno said the current policy of the Duterte administration was to ease up on imports of select farm goods following the lifting of quantitative restrictions …

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Things to keep in mind as a first time OFW in the UK

Overseas Filipino Workers are one of the strongest pillars on which the economy of Philippines thrives. According to the UN Migration Report of 2017 there are around 5.6 million Filipinos around the world. The UN report further reveals that in 2017 there were around 138,905 Filipino migrants in the UK. …

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Audi Philippines sets first-ever Factory Warehouse Sale

Audi Philippines will be holding its first ever Factory Warehouse Sale from January 19 to 20, 2019 at Whitespace Manila in Makati City. Customers can enjoy discounts of up to P1 million on the high-tech luxury sedan Audi A4, the multi-awarded Audi Q5 and the seven-seater SUV Audi Q7. Amazing …

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Remittances 2.4% higher in November

Money sent home by overseas Filipino workers (OFWs) in November rose from a year earlier but dropped from the previous month, the Bangko Sentral ng Pilipinas (BSP) reported on Tuesday. Personal remittances, which sum up the net compensation of OFWs, personal transfers whether in cash or in kind and also …

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‘Little fallout’ expected from Hanjin bankruptcy

The Philippine financial system is unlikely to be shaken by the bankruptcy of a Subic-based shipbuilder, a Fitch unit said, although challenges should be expected overall given a possible economic slowdown. “Our view at Fitch Solutions is that the loan default by the local shipbuilding unit of Korean conglomerate Hanjin, …

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Partylist solons urge govt takeover of Hanjin

Reports that Korean-owned Hanjin Heavy Industries and Construction Philippines (HHIC-Phil) could be bought by a Chinese firm have alarmed opposition lawmakers, who called on the government on Tuesday to consider a takeover of the bankrupt Subic-based shipbuilder. Akbayan Rep. Tom Villarin The Duterte administration, Akbayan Rep. Tom Villarin told reporters, …

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Hanjin bankruptcy: No, things are not going to be okay

BEN KRITZ THE unexpected bankruptcy of Hanjin Heavy Industries and Construction Philippines (HHIC) late last week has been characterized as a disappointing but manageable situation by government and banking officials. This is an altogether predictable response, and one that they are perhaps duty-bound to offer the public. Making statements intended …

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