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Digital armageddon may be just around the corner

BEN KRITZ HUAWEI Chief Financial Officer Meng Wanzhou may be this century’s Franz Ferdinand. Just as the assassination of the heir to the Austrian throne was the spark that ignited World War I, the arrest of Wanzhou in Canada on December 1 might cause what has been years of growing …

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PSEi plunges anew on US-China worries

THE stock market extended a decline to a fourth consecutive day on Monday, tracking a regional decline said to have been spurred by renewed concerns over a host of issues. The bellwether Philippine Stock Exchange index (PSEi) lost 112.85 points or 1.51 percent or to close at 7,348.21 while the …

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PH trade gap likely wider in Oct – HSBC

The country’s trade deficit likely expanded in October, banking giant HSBC said ahead of today’s release of official data. “We expect the Philippine trade deficit to widen further in October, driven by a continued slowdown in exports alongside elevated imports of capital goods and raw materials,” it noted in a …

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Govt counts costs of reenacted budget

Economic growth could slow substantially next year under a reenacted budget based on estimates made by the government. “NEDA (National Economic and Development Authority) estimates: GDP growth impact of -1.-2.3 ppt (percentage points) in 2019, if budget will be reenacted,” a document obtained by reporters on Monday showed. A man …

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Negative issues cause Asian markets tumble

HONG KONG: Asian markets sank Monday as investors juggle a number of negative issues that have fuelled worries about the global outlook. 2. A man walks in front of a stock indicator board showing share prices of the Tokyo Stock Exchange in Tokyo on December 10, 2018. AFP PHOTO The …

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BIR, BoC ordered to act vs fake cigarettes

The Tax and Customs bureaus have been ordered to coordinate with their Chinese counterparts to prevent the entry of machines that are being used to manufacture fake cigarettes in the Philippines. In a statement, the Finance department said the order was issued after Bureau of Internal Revenue (BIR) Commissioner Caesar …

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S&P sees slower credit growth

A strong economy will continue to buoy the Philippine banking sector but higher interest rates may dampen credit growth, S&P Global Ratings said in a report. “We expect robust economic growth to remain supportive of the domestic credit environment,” the ratings agency said in its latest “Asia-Pacific Banking Outlook 2019” …

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Delayed lift seen from inflation news

A delayed lift from last week’s inflation news and a stronger peso could allow the Philippines Stock Exchange index (PSEi) to rebound from a three-day beating, analysts said, although investors may opt to take their cues from Wall Street’s continued decline and the outcome of a vote on Brexit. “With …

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Firms less upbeat on expansion, hiring

PHILIPPINE companies are less optimistic with regard to expansion and hiring for the first quarter of next year, data from a Bangko Sentral ng Pilipinas (BSP) survey showed. Results of the recently released Business Expectation Survey (BES) put the confidence index (CI) of companies with expansion plans at 36 percent, …

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