Tag: bworldonline
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Philippines Q2 GDP rises 6.3% year on year, just above forecasts
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MANILA – The Philippine economy grew 6.3% in the second quarter from a year earlier, driven by government spending and investment, the statistics agency said on Thursday, stronger than upwardly revised 5.8% growth in the first quarter. That took first-half GDP growth to 6.0%, putting the economy on track to…
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Q2 agricultural output falls by 3.3%
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THE PHILIPPINES’ agricultural output fell in the second quarter, as the crops and livestock sector continued to bear the brunt of the El Niño weather phenomenon.
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June jobless rate falls to lowest in two decades
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THE UNEMPLOYMENT RATE in June fell to 3.1%, the lowest in two decades, as hiring in the construction sector surged, the Philippine Statistics Authority (PSA) reported on Wednesday. Preliminary data from the Philippine Statistics Authority (PSA) showed the jobless rate slipped from 4.1% in May and 4.5% in June 2023.…
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First-quarter GDP growth revised upwards to 5.8%
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THE PHILIPPINE ECONOMY grew slightly faster than initially reported in the first quarter, the Philippine Statistics Authority (PSA) said on Wednesday. The PSA said in a statement the gross domestic product (GDP) growth rate for the January-to-March period was raised to 5.8% from the 5.7% previously reported. This was the…
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Forex buffer hits over 2-year high of $105.6B
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THE COUNTRY’S gross international reserves (GIR) jumped to $105.65 billion as of end-July, its highest level in over two years, the Bangko Sentral ng Pilipinas (BSP) said.
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Future-proofing communities throughout the Philippines
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Addressing urbanization challenges tackled in BusinessWorld Insights forum By Jomarc Angelo M. Corpuz, Special Features and Content Writer In recent years, the Philippines has been constantly ravaged by natural disasters that have caused billions worth of damages and displaced millions of people, particularly in urban areas. As the country grows…
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Converge leads PHL fixed broadband — Opensignal report
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ANALYTICS firm Opensignal said Converge ICT Solutions, Inc. leads its latest national fixed broadband experience survey, ranking first in most categories. Opensignal’s survey analyzed data from the country’s fixed broadband users, measuring their experience in terms of consistent quality, download speed, peak download speed, upload speed, video experience, and reliability.…
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Inflation quickens to 9-month high
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HEADLINE INFLATION accelerated to a nine-month high in July, mainly driven by a spike in electricity rates and food costs, data from the Philippine Statistics Authority (PSA) showed.
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BSP chief says ‘a little bit less likely’ to cut rates
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THE BANGKO SENTRAL ng Pilipinas (BSP) is now “a little bit less likely” to cut rates at its Aug. 15 meeting after inflation breached the 2-4% target band in July, its governor said. “A little bit less likely (to ease) because inflation is high. But we have to look at…
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Trade-in-goods deficit widens to $4.3B in June
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THE PHILIPPINES’ trade-in-goods deficit ballooned to $4.3 billion in June as imports and exports contracted, the Philippine Statistics Authority (PSA) said on Tuesday.