MAYVELIN U. CARABALLO, TMT

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Second quarter economic growth was actually a higher 6.7 percent instead of 6.5 percent, the Philippine Statistics Authority (PSA) announced on Wednesday ahead of today’s release of third quarter results. Financial intermediation, construction, and real estate, renting and business activities were the three biggest contributors to the upward revision, the…

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The International Monetary Fund (IMF) has lauded the inclusion of casinos under the Philippine anti-money laundering (AML) rules but said the system could be strengthened further if the bank secrecy law is also amended. “Staff welcomes the recent amendment to the AML law to include casinos,” the IMF said in…

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The Japanese government has loaned the Philippines over ¥15 billion for the Cavite Industrial Area Flood Risk Management Project. In a statement on Thursday, the Department of Finance (DoF) said it signed a ¥15.93-billion loan agreement with the Japan International Coordination Agency (JICA) for the project, which aims to control…

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Philippine economic growth will slow this year, an Organization for Economic Cooperation and Development (OECD) think tank said, with a second-semester acceleration unlikely to overcome the first half’s below-target result. Released on Tuesday, the OECD Development Centre’s “Economic Outlook for Southeast Asia, China and India 2018” estimated that the Philippine…

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The Chinese government has so far committed a combined $7.34 billion in soft loans and grants to the Philippines, the Finance department said In a statement on Tuesday, the department said the funding commitment would be used to implement 10 big-ticket projects, construct two bridges in Metro Manila and two…

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The Association of Southeast Asian Nations (Asean) must invest in technology and skills training to take full advantage of the benefits of a shared economy, panelists said during a forum during the final day of the Asean Business & Investment Summit. Robert Yap Min Choy, chairman of Fullerton Systems and…

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The participation of the private sector in Association of Southeast Asian Nations (Asean) infrastructure projects is crucial to sustain regional growth and attract much-needed investments. This is what panelists from the private sector, multilateral institutions and governments said in a forum on Monday during the ongoing Asean Business & Investment…

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South Korea is committed to cooperating with the Association of South East Asian Nations (Asean) in improving connectivity in the region. This what South Korean President Moon Jae In said in a keynote speech during the ongoing Asean Business & Investment Summit. “Asean and Korea are important partners for each…

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The Association of Southeast Asian Nations (Asean) must rethink strategies to take full advantage of the benefits of the Fourth Industrial Revolution, seen to improve regional financial inclusion. This is what panelists said in a forum themed “Right Money + Open Markets = Prosperity for All,” during the ongoing Asean…

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Countries must continue to pursue reforms that will empower women as it is vital for them to develop their human capital, according to Myanmar State Counsellor Aung San Suu Kyi. “The empowerment of women toward economic and social development can be significant not only in my country but throughout our…

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