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Oil giant Chevron agrees to buy rival Hess for $53B

Chevron is buying Hess Corp. for $53 billion and it’s not even the biggest acquisition in the energy sector this month as major producers seize the initiative while oil prices surge.  Second major deal in U.S. oil industry this month. Chevron is buying Hess Corp. for $53 billion and it’s …

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Stocks fall over looming rate hikes

The local stock market fell at the start of the week as potential interest rate hikes continue to drag out investors’ sentiments. The main index dropped by 54.46 points or 0.86 percent closing at 6,088.44, with all sectoral indices in red, notably the Mining and Oil and Industrial sectors taking …

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DTI financial fair to empower MSMEs to go global

The Philippine Trade Training Center – Global MSME Academy (PTTC-GMEA), an attached agency of the Department of Trade and Industry (DTI), in collaboration with the Monetary Authority of Singapore (MAS) and tech firm Proxtera, is set to hold the Financial Fitness Fair 2023 this week to help micro, small, and …

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Philippines urged to raise power investments to $62 billion

In its background paper on the energy sector for its Country Climate and Development Report, the World Bank said accelerated decarbonization in the Philippines would require a substantial increase in capital spending to scale up renewable energy. (STAR/File)  MANILA, Philippines — The Philippines will need to double investments in power …

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‘High inflation to linger until 2025’

The central bank’s Survey of External Forecasters for September showed that private economists raised their inflation forecasts to 3.7 percent from 3.5 percent for 2024 and to 3.5 percent from 3.4 percent for 2025.” (STAR/File) Supply-side shocks MANILA, Philippines — Economists are now expecting a faster rise in prices of …

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