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Philippines: Retailers post higher profits in 9 months

MANILA, Philippines — Retailers reported higher earnings in the nine months to September. In separate disclosures, SSI Group, the country’s largest specialty store retailer, said net income rose 12 percent to P342 million while core recurring income, which excludes one-time write-offs related to the group’s store rationalization program, increased 13 percent to P444 million. SSI […]

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Philippines: GDP grows at better-than-expected 6.9% in Q3

MANILA, Philippines — The domestic economy expanded at a better-than-expected pace of 6.9 percent in the third quarter, likely the second fastest in Asia during the period, the National Economic and Development Authority (NEDA) said yesterday. Growth in gross domestic product (GDP) – the total value of goods and services produced during the period – […]

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MVP urges ASEAN businesses to invest in digital technology

MANILA, Philippines — Tycoon Manuel V. Pangilinan rallied businessmen in the 10-member Association of Southeast Asian Nations (ASEAN) to invest in digital technology, saying this is necessary for the economic bloc to fully evolve. Leading the panel on entrepreneurship in the digital economy during ASEAN Business & Investment Summit Tuesday, Pangilinan said it is important […]

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Philippines Q3 GDP grows 6.9% y-o, above forecast

[MANILA] The Philippine economy grew by a faster-than-expected 6.9 per cent in the third quarter from a year earlier, supported by strong industrial output and services, the statistics agency said on Thursday. Economists in a Reuters poll had forecast annual growth of 6.5 per cent in the July-September period, compared with the second quarter’s upwardly […]

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Philippines: Remittances shrink in September

MANILA, Philippines — Remittances from Filipinos abroad declined to a five-month low in September due to the repatriation of undocumented Filipino workers in Saudi Arabia as well as the decision of global correspondent banks to shut down more money service facilities. The Bangko Sentral ng Pilipinas (BSP) reported yesterday personal remittances contracted seven percent to […]

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