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Growth risks to be ‘more locally driven’

Risks to Philippine economic growth will primarily be driven by domestic issues in 2019, an ING Bank Manila economist warned on Tuesday. “Of course there will be external factors, which will always come into play, but I think this year risks will be more locally driven,” ING Bank Manila senior …

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PH exports, imports plunge; ‘external challenges’ blamed

Full-year trade deficit hits record high of P41.44 billion Exports plunged in December and imports also closed the final month of 2018 in the red, the government reported on Tuesday, capping a difficult year for Philippine merchandise trade. The full-year trade deficit ballooned to a record $41.44 billion, 51 percent …

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DoF: Reforms to boost PH economic freedom ranking

Implementation of recently-approved reforms should allow the Philippines to post a rebound in the 2020 economic freedom rankings, the Finance department said on Tuesday. “For index year 2020, the country’s score is expected to improve significantly,” it said in an economic bulletin. In the Heritage Foundation’s 2019 Index of Economic …

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SM Prime net profit surges 17% to P32.2B in 2018

SM Prime Holdings Inc. saw its net income jump by 17 percent to P32.2 billion last year, from P27.6 billion in 2017, on the back of higher revenues. In a disclosure on Monday, the company reported that consolidated revenues had risen by 14 percent to P104.1 billion from P90.9 billion …

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PSEi dips on concerns over growth, trade talks

THE stock market retreated on Monday as market players were said to be cautious about slower global growth and the outcome of US-China trade talks scheduled later this week. The bellwether Philippine Stock Exchange index (PSEi) dipped by 0.12 percent or 9.35 points to close at 8,061.54 while the broader …

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Net FDI hits 2-mth high in Nov – BSP

NET foreign direct investment (FDI) inflows hit a two-month high in November 2018 but were still lower from a year earlier, the Bangko Sentral ng Pilipinas (BSP) reported on Monday. Net inflows dropped by 45.9 percent to $531 million from $982 million in the same month last year but were …

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Investment approvals nearly double in Jan

Investment approvals grew by 91 percent to P97.9 billion in January from year-earlier P51.3 billion, the Trade department reported on Monday, with power development deals accounting for almost half of the total greenlighted projects. Trade Secretary Ramon Lopez. “We are definitely off to a positive start in 2019 and it …

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IMF chief warns of economic ‘storm’

DUBAI: The International Monetary Fund on Sunday warned governments to gear up for a possible economic storm as growth undershoots expectations. “The bottomline — we see an economy that is growing more slowly than we had anticipated,” IMF Managing Director Christine Lagarde told the World Government Summit in Dubai. Christine …

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Rice imports to counter El Niño impact

Import-boosted rice stocks will be enough to counter the inflationary impact of an expected El Niño, a senior Bangko Sentral ng Pilipinas (BSP) official said. The weather phenomenon, central bank Deputy Governor Diwa Guinigundo told reporters last last week, “is one important factor but remember that the National Food Authority …

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High-stakes trade talks resume

WASHINGTON, D.C.: With a March 1 deadline fast approaching, US and Chinese officials resume negotiations this week to prevent escalation of a trade dispute that has major implications for the global economy. China’s economy already has shown signs of slowing, while the trade war has shaken the confidence of US …

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