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Peso 2nd strongest Asian currency

By MAYVELIN U. CARABALLO, TMT August 06, 2019 THE Philippine peso has emerged as the second strongest currency in Asia as of last month, the Department of Finance (DoF) reported on Monday. In an economic bulletin, the Finance department said the local currency appreciated by 2.82 percent against the US …

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Yuan drop, trade war drag PSEi to new low

By ANGELICA BALLESTEROS, TMT August 06, 2019 THE stock market fell to its lowest level in more than two months on Monday, with analysts blaming it on the depreciation of the Chinese yuan and the trade war between the United States and China. Traders work at the New York Stock …

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PH growth likely still below 6% in Q2 – poll

By ANNA LEAH E. GONZALES August 06, 2019 THE Philippine economy likely grew at a slower pace in the second quarter of 2019 than a year ago due to the continued impact of the delayed approval of this year’s national budget and the election ban on government spending, according to …

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Drop appeal against CSP ruling, ERC told

By JORDEENE B. LAGARE August 05, 2019 THE Energy Regulatory Commission (ERC) was recently urged to implement the rules on competitive bidding in power supply agreements (PSAs), instead of calling on the Supreme Court (SC) to reconsider its ruling on the matter. ERC has filed a motion for reconsideration before …

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Pag-IBIG payment system goes digital

By The Manila Times August 05, 2019 In line with the directive of President Rodrigo Duterte to make public services more convenient for Filipinos, members of Pag-IBIG Fund can now enjoy a more convenient way to pay for their savings and loan repayments. This is now possible as the agency …

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Sideways, lower trading seen in ‘Ghost Month’

By ANGELICA BALLESTEROS, TMT August 05, 2019 THE stock market is expected to trade sideways or lower this week, with the “Ghost Month” into its fifth day, and ahead of the government’s release of official economic growth data this week. In a market comment over the weekend, AAA Southeast Equities …

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BIR: P200M collected from POGO workers

By MELISSA DELGADO August 05, 2019 FOREIGN workers of Philippine offshore gaming operators (POGO) have paid about P200 million in personal income taxes to the Bureau of Internal Revenue (BIR), according to its chief. “They (POGO workers) are already paying (their income taxes),” BIR Commissioner Caesar Dulay said in an …

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DoF sets timetable for tax bills’ passage

By MAYVELIN U. CARABALLO, TMT August 05, 2019 THE Department of Finance (DoF) has set a timetable of 15 to 18 months to have the remaining packages of the government’s Comprehensive Tax Reform Program (CTRP) passed before the 2022 election season begins. Finance Secretary Carlos Dominguez 3rd. PHOTO BY J. …

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July inflation likely eased to 2.2-2.6% – analysts

By ANNA LEAH E. GONZALES August 05, 2019 HEADLINE inflation likely continued to decelerate last month on reduced food and fuel prices, which would allow the Bangko Sentral ng Pilipinas (BSP) to resume slashing interest rates, according to analysts polled by The Manila Times. Inflation forecasts for July ranged from …

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Sugar output down in first week of July

By EIREENE JAIREE GOMEZ August 03, 2019 The country’s raw sugar production slightly fell to 2.232 million metric tons (MT) in the first week of July from its level a year ago, the Sugar Regulatory Administration (SRA) said. In its latest supply-and-demand situation report, SRA said the figure was 0.27 …

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