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Philippines: Wage hike harmful to economy – NEDA

Amid rising consumer prices MANILA, Philippines — An increase in minimum wages amid rising prices would hurt the economy in the longer term, the National Economic and Development Authority (NEDA) said. During the Development Budget Coordination Committee’s briefing for the House committee on appropriations yesterday, NEDA Secretary Arsenio Balisacan said forcing increases in minimum wages […]

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Cambodia’s manufacturing output hit $15.8 billion in 2022

Cambodia’s manufacturing output hit $15.8 billion in 2022, a remarkable increase of 83 percent year on year, thanks to both domestic and international market demands after the Covid-19 pandemic waned worldwide. A report by the Ministry of Industry, Science, Technology and Innovation yesterday showed that 186 new factories were opened last year, a growth of […]

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Philippines: February inflation likely breached 9%

MANILA, Philippines — Inflation likely remained stubbornly high and could have breached nine percent in February from a fresh 14-year high of 8.7 percent in January, according to the Bangko Sentral ng Pilipinas (BSP). In a statement, the central bank said inflation last month likely settled between 8.5 percent and 9.3 percent, with upward pressures […]

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