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Philippines: Jobs for youth key to reducing unemployment

MANILA, Philippines — Creating jobs that pay proper wages to young people aged 15 to 24 is needed to significantly reduce unemployment and income inequality in the country, the Asian Development Bank (ADB) said. The Manila-based multilateral development institution said despite the sustained economic growth in the country, young people still struggle to find jobs […]

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Philippines notches record foreign investments

Net foreign direct investments (FDI) reached an all-time high of $10.049 billion in 2017, the Bangko Sentral ng Pilipinas (BSP) reported on Monday, up by 21.4 percent year-on-year and exceeding the full-year target of $8 billion. “Investors continue to view the country as a favorable investment destination on the back of … sound macroeconomic fundamentals and growth […]

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Philippines: No ‘one-for-one’ policy rate hikes

“One-for-one” interest rate hikes shouldn’t be expected if the US Federal Reserve decides to accelerate its policy tightening, the chief of the Bangko Sentral ng Pilipinas (BSP) said on Monday. Noting that “people seem to want us to follow,” central bank Governor Nestor Espenilla Jr. told reporters that the current Fed policy stance was “much […]

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Philippines ‘most vulnerable’ to Trump protectionism

The Philippines will end up as a “biggest loser” if US President Donald Trump continues a push to deliver on protectionist campaign promises, a London-based consultancy said in a new rerport. Capital Economics noted that recent developments, from the resignation of White House chief economic advisor Gary Cohn — a free trade advocate — to […]

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Philippines – DOF: TRAIN impact led to inflation spike in Feb

MANILA, Philippines — The higher-than-expected inflation rate in February may be attributed partly to the implementation of the newly implemented tax reform law, the Department of Finance (DOF) said yesterday. Finance Undersecretary Karl Kendrick Chua said the increase in inflation was due to the effects of the Tax Reform for Acceleration and Inclusion (TRAIN) Act […]

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Philippines joins ASEAN in creating barrier-free tourism

MANILA — As the Association of Southeast Asian Nations (ASEAN) gears to develop more infrastructures to provide barrier-free tourism to persons with disabilities (PWDs) in the region, the Philippines expresses its full support to the bloc’s initiative. “The Philippines has always been very supportive and now more than ever vigilant in its promotion of the principles […]

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