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More lending centers eyed by LandBank

By ANNA LEAH E. GONZALES August 09, 2019 State-run Land Bank of the Philippines (LandBank) is eyeing to establish more lending centers in the country so it can boost lending to the agriculture sector by 15 percent annually. LandBank aims to release more than P300 billion in loans to 3 …

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Ten-year growth seen in PH buildings sector

By ANNA LEAH E. GONZALES August 09, 2019 The country’s residential and non-residential buildings sector will grow by an average of 9.3 percent annually from 2019 to 2028, a Fitch unit said on Thursday. “The residential buildings sector will be an outperformer, given rapid urbanisation and the urgent need to …

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San Miguel profit falls to P26B in Jan-June

By ANGELICA BALLESTEROS, TMT August 09, 2019 SAN Miguel Corp. (SMC) saw its net income slide to P26.15 billion in the first half of the year, dragged down by profit decreases in its petroleum and food segments. In a statement on Thursday, the listed conglomerate said the amount was a …

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PSEi flat on lazy PH growth figure

By ANGELICA BALLESTEROS, TMT August 09, 2019 THE stock market traded sideways on Thursday before finishing slightly lower following a slower economic growth figure in the second quarter of the year. The bellwether Philippine Stock Exchange index (PSEi) dipped by 0.04 percent or 3.23 points to close at 7,914.16, while …

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Bangko Sentral cuts policy rates by 25 bps

By JORDEENE B. LAGARE August 09, 2019 AS widely expected, the country’s monetary authorities on Thursday resumed trimming key interest rates by 25 basis points (bps) after pausing in June, and adjusted downward its inflation outlook for this year and next. In a briefing at the Bangko Sentral ng Pilipinas …

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‘PEZA contributed P10T in 2015-2017’

By TYRONE JASPER C. PIAD August 09, 2019 THE Philippine Economic Zone Authority (PEZA) said on Thursday it and its registered firms contributed a total of P10.05 trillion to the Philippine economy from 2015 to 2017, in an effort to banish whatever misconceptions people have about the state-run agency. In …

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U.S.-China trade war weakening demand for oil

U.S. President Donald Trump China’s President Xi Jinping arrive for the state dinner with the first ladies at the Great Hall of the People in Beijing, China on Nov. 9, 2017. (Thomas Peter/The Canadian Press/AP) The Associated Press Published Friday, August 9, 2019 8:29AM EDT PARIS — The trade war …

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Malaysia charges 17 Goldman Sachs figures over 1MDB scandal

In this Wednesday, July 8, 2015 photo, a 1MDB (1 Malaysia Development Berhad) logo is set against the Petronas Twin Towers at the flagship development site. (AP Photo / Joshua Paul) The Associated Press Published Friday, August 9, 2019 3:26AM EDT Last Updated Friday, August 9, 2019 5:12AM EDT KUALA …

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Uber loses US$5.24B in 2Q after post-IPO stock payouts

File photo. Cathy Bussewitz, The Associated Press Published Thursday, August 8, 2019 4:37PM EDT Last Updated Thursday, August 8, 2019 8:29PM EDT NEW YORK — Uber lost $5.24 billion in the second quarter — its largest quarterly loss ever — after making huge stock-based payouts in the months following its …

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