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Philippine economy grows slower in Q3

MANILA, Philippines (Update 2, 2:19 p.m.) — The Philippine economy expanded at a slower pace in the third quarter amid weak consumer spending and lackluster agriculture growth, which may give the central bank a chance to hit the pause button on policy tightening to rein in inflation. Gross domestic product — or the value of all finished goods and services […]

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Philippines: Trade gap widens to $3.93 billion in Sept 2018

MANILA, Philippines — Philippine imports hit an all-time high in September while exports remained weak, bringing the trade deficit to $3.93 billion, the highest in nine months amid sustained purchase of capital goods needed for the government’s ambitious infrastructure program, the Philippine Statistics Authority (PSA) reported yesterday, a day before the release of third quarter economic performance. […]

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Philippines: BOI-approved investments up 26%

MANILA, Philippines — Investments approved by the Board of Investments (BOI) rose 26 percent in the January to October period from a year ago driven by projects in five key industries. In a statement yesterday, the BOI said it approved P515.9 billion worth of investments in the 10-month period this year, higher than the P408.8 […]

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Philippines: More laws needed to ease investment restrictions – NEDA

MANILA, Philippines — Further easing restrictions on foreign investments after the recent signing of the 11th Foreign Investment Negative List (FINL) would fall largely on Congress through the amendments of laws that cap foreign equity in viable industries, the National Economic and Development Authority (NEDA) said. Socioeconomic Planning Secretary Ernesto Pernia said a lot still […]

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Philippines: Inflation still elevated in October but steady at 6.7%

MANILA, Philippines — Inflation continued to be a problem in the Philippines in October, although it steadied from the previous month’s level amid mixed price movements posted by commodity groups, the country’s statistics agency reported. Inflation clocked in at 6.7 percent in October, unchanged from September’s level and the fastest pace in nearly a decade. Year-to-date, inflation […]

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