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DA eyes safeguard tariffs on palm oil

THE Department of Agriculture (DA) is looking at imposing safeguard duties on refined palm oil following a sharp increase in imports from Malaysia and Indonesia. Agriculture Secretary Emmanuel Piñol told reporters on Thursday that tariffs were being considered in the wake of findings that palm oil shipments from the two …

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Bitcoin is in its death throes, again

BEN KRITZ BITCOIN, better known as “the most annoying concept in economics,” is apparently in the process of a crash this week, shedding more than $14 billion in market capitalization in less than 24 hours on Monday and falling to its lowest price in over a year. Although the cryptocurrency …

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Infra, capital spending tops target

Higher infrastructure and other capital spending in September allowed the government to top its year-to-date target, a Cabinet official said on Wednesday. Spending totaled P65.2 billion during the month, up 21.6 percent from the P53.6 billion recorded a year earlier, Budget Secretary Benjamin Diokno told reporters. Major infrastructure items include …

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PH down a notch in EIU ranking

The Philippines has shown no improvement in its financial inclusion score following a global review, resulting in a one-notch drop in its ranking. In the Economist Intelligence Unit (EIU)’s newly released “Global Microscope 2018” report, the Philippines was still named as a global financial inclusion leader. The country’s score of …

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PH-China economic accords highlighted

Three of the 29 agreements exchanged between the Philippines and China during Chinese President Xi Jinping’s state visit cover economic cooperation arrangements, the Finance department said on Wednesday. President Rodrigo Duterte with Chinese President Xi Jinping during the state banquet at the Rizal hall of Malacañang Palace on Tuesday, November …

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Japanese consortium bags subway contract

A Japanese consortium has been awarded a contract to build the Metro Manila Subway, a key project under the Duterte administration’s “Build Build Build” program. “For the Metro Manila Subway project, the winning bidder is OC Global… The amount involved is P11 billion,” Budget Secretary Benjamin Diokno told reporters in …

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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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