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Ph successes...

Colleagues in APEC, good morning. I would like to thank you for this opportunity to share with you the Philippines’ successes and challenges in implementing structural reform. Let me start by saying that the Philippines has been implementing structural reform…

Energy companies lifted by oil rise

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Oil prices rose again yesterday, extending a recent rally and providing support to regional energy stocks, while Sydney powered higher and the Aussie dollar slumped after Australia's central bank cut interest rates to record lows. The euro edged down as…

HK billionaire bets on Europe as China slows

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Famed for his sharp business acumen and knack for perfectly timed investments, Hong Kong billionaire Li Ka-shing is shifting away from a slowing Chinese economy and bargain hunting in Europe. The move is seen as a quest for stability for…

S’pore eases monetary tack in snap move

Singapore yesterday became the latest country to ease monetary policy in a surprise move as plunging oil prices hit inflation and the central bank looks to boost the tepid economy. The Monetary Authority of Singapore, the city-state’s central bank, said…

Peso dips; stocks advance

The peso closed slightly lower yesterday at 44.085 per US dollar on total volume of $771.8 million traded at the Philippine Dealing and Exchange Corp. Stocks finished generally higher with only the financial sector suffering a decline (down 0.37 percent).…

IMF slashes world growth forecast

The International Monetary Fund on yesterday sharply cut its 2015-2016 world growth forecast of only six months ago, saying lower oil prices did not offset pervasive weaknesses around the globe. The IMF said poorer prospects in China, Russia, the euro…

UAE firms eyeing projects in PH

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United Arab Emirates-based companies have expressed interest in investing in the country’s airport and energy development projects, Ambassador to the UAE Grace Relucio-Princesa said in an interview. Princesa told reporters that aside from Al Ahli Holding Group, a large company…

China growth hit 24-year low in 2014

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China’s annual GDP growth slowed to its weakest rate in more than two decades in 2014, according to an AFP survey, projecting further deceleration in the world’s second-largest economy this year. The median forecast in a poll of 15 economists…

Taming poverty through social entrepreneurship

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Two party-list lawmakers are strongly pushing for the establishment of the Poverty Reduction Through Social Entrepreneurship Program to develop the appropriate structures, resources, and proper environment that would support and encourage the growth of social enterprising in the country.The proposal…

China trade surplus rockets to record high

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China’s trade surplus soared by almost half last year to a record $382 billion, the government announced yesterday, but the world’s second-largest economy again missed its trade growth target due to weakness overseas. Exports increased 6.1 percent to $2.34 trillion…

UAE firm, BCDA form strategic alliance

Dubai-based multi-billion-dollar company Al Ahli Holding Group and government-owned Bases Conversion and Development Authority have entered into a long-term strategic alliance that would help the foreign firm to grow in the local market as well as to back the country’s…

Economic managers see 6%-7% 2014 growth

Economic managers expect between six percent and seven percent growth for the country for 2014, lower than the 6.5-percent to 7.5- target, due to below-target spending on account of “judicial intervention” and delay in reconstruction in Yolanda-affected areas. Budget and…

Makers to spark mart with super HDtv

After several years of sluggish sales, television manufacturers are pegging growth hopes on new technologies that deliver a more immersive and interactive experience and stunningly realistic image displays. As new TVs were unveiled at this week’s Consumer Electronics Show in…

Boost mining industry, gov’t urged

The country should not contend itself as a mere exporter of raw materials; it should establish and develop its own processing plants that use new technologies in manufacturing mineral ores, a Mindanao lawmaker said. “One way to promote industrialization and…

New hope and old woes as Detroit exits bankruptcy

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After the largest municipal bankruptcy in US history, Detroit hopes outsiders see its potential and not its history of racial conflict, financial crisis and dramatic population loss. The city, founded as a small French fort on the Detroit River that…
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