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BoP surplus narrows; end-Feb tally tops $3B

By MAYVELIN U. CARABALLO, TMT March 20, 2019 THE country’s balance of payments (BoP) position remained positive in February but declined from the previous month’s six-year high, the Bangko Sentral ng Pilipinas (BSP) reported on Tuesday. The $467-million result — significantly lower than January’s $2.704-billion — was a reversal from …

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Unifor reports productive talks with GM on Oshawa jobs

People who would be directly affected by the General Motors Oshawa plant closure stand in solidarity before Unifor National President Jerry Dias speaks during press conference asking for all Canadians and Americans to boycott all General Motors vehicles that are made in Mexico in Toronto on Friday, January 25, 2019. …

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Norwegian aluminum producer hit by cyberattack

The Associated Press Published Tuesday, March 19, 2019 11:47AM EDT Last Updated Tuesday, March 19, 2019 3:48PM EDT HELSINKI — Norwegian aluminum producer Norsk Hydro said Tuesday it had been a targeted by "an extensive cyberattack" through a ransomware virus infecting its key operations and disrupting its IT systems globally. …

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Fed to hold fire on interest rates

By AGENCE FRANCE-PRESSE March 18, 2019 WASHINGTON, D.C.: There is virtually no chance the US Federal Reserve will raise interest rates this week since policymakers have all but promised to hold their fire as the global economy slows. With inflation still tame as US economic growth decelerates in 2019, economists …

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Reenacted budget to slow 2019 PH growth

By The Manila Times March 18, 2019 Capital Economics is keeping its 2019 Philippine growth forecast at 6.0 percent for now, noting a slowdown from last year’s 6.2 percent is all the more likely given an ongoing budget impasse. Government warnings of a deceleration to as low as 4.2-4.9 percent, …

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Policy adjustments not in the cards – poll

By MAYVELIN U. CARABALLO, TMT March 18, 2019 Amid easing inflation, Monetary Board to meet this Thursday MONETARY authorities will likely keep interest rates unchanged — for a third time since December — when they meet this Thursday, economists polled by The Manila Times said. Most of the analysts believe …

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Rising POGO demand to hike property prices

By ANGELICA BALLESTEROS, TMT March 19, 2019 RENTAL and selling rates in the Philippine property market, particularly in Metro Manila, are likely to spike over the next few years amid an expected deficit in condominium and office spaces due to rising demand from the Philippine online gaming operations (POGO) industry, …

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PH, China execs to discuss infra projects

By MAYVELIN U. CARABALLO, TMT March 19, 2019 Philippine and Chinese officials will be meeting in Beijing today to discuss infrastructure initiatives, the Finance department announced on Monday. Executive Secretary Salvador Medialdea. FILE PHOTO In a statement, the department said a delegation led by Executive Secretary Salvador Medialdea would meet …

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Brokers’ PSE stake exceeds 20% anew

By ANGELICA BALLESTEROS, TMT March 19, 2019 Broker ownership of the Philippine Stock Exchange (PSE) has again breached the 20-percent limit, the bourse said on Monday. In a disclosure, the PSE said trading participants accounted for a 26.44-percent stake as of last month, equivalent to 85 million shares. It previously …

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