Philippines’ external debt up 8.3% to $128.7 B

The Philippines’ total outstanding external debt as of end-March 2024 amounted to $128.692 billion, 8.3 percent higher compared to same period last year of $118.812 billion on the back of higher borrowings by the government and private sector, majority of which are bank loans for liquidity purposes. Based on Bangko …

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PNP goes tougher on cigarette smugglers

Smuggled cigarettes (BOC file photo) MANILA – The Philippine National Police (PNP) vowed to eradicate cigarette smuggling following reports that the government lost a staggering PHP25.5 billion in 2023 due to the illicit trade. PNP chief Gen. Rommel Francisco Marbil said the battle against counterfeit and smuggled cigarettes is not just a …

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Fire hits religious store in Manila

Firefighters respond to a first alarm fire that hit a commercial area at Tayuman Street corner Oroquieta Road in Sta. Cruz, Manila on June 15, 2024. (Raha Volunteer / Fire and Rescue Alert Responders)  MANILA, Philippines — A fire engulfed a religious article store in Sta. Cruz, Manila on Saturday …

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PH stock market now bearish

The local stock market has turned bearish after last week’s plunge but investors are not seen to jump in to pick up bargains this week as they are expected to remain on the sidelines amid an absence of positive catalysts. “The local market declined last week by 2.07 percent. With …

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