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SYDNEY: Australia’s budget deficit is forecast to balloon to Aus$40.4 billion ($33.2 billion) this financial year as the government struggles with a sharp slump in commodity prices, Treasurer Joe Hockey said on Monday. In the national budget released in May, the government forecast a Aus$29.8 billion deficit for 2014/15, but…

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If there is anything at all surprising about the immature, bratty response of President B.S. Aquino 3rd to the implied warning from Senator Sergio Osmeña III that the former would likely not be getting the “emergency powers” he has lobbied for since mid-July, it is that anyone still tolerates him.…

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More Filipinos are willing to save 10 percent or more of their monthly income based on the latest Consumer Expectations Survey done by the Bangko Sentral ng Pilipinas. The survey showed that 38 percent of 6,389 households surveyed plan to save at least 10 percent of income compared with 35.6…

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Finance Secretary Cesar Purisima believes the Philippines is still a notch underrated even after the recent rating upgrade to Baa2 by Moody’s Investors Service. Purisima said the upgrade reaffirms the country’s strong economic fundamentals as well as the reforms in the government. “Good governance is indeed good economics,” is Purisima’s…


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Shoppers who may wish to avoid crowded malls can shop online starting today, Monday at SM, the first mall in the country to offer the service. This will mean avoiding long queues to pay for your purchases and less stress looking for that perfect gift for the Christmas season. SM…

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The benchmark stock index is expected to follow leads from foreign markets this week after Friday’s surprise surge but analysts are keeping their fingers crossed that a “Santa Claus” rally is in the offing. On Friday, the Philippine Stock Exchange index (PSEi) advanced 2.15 percent or 152.11 points to 7,224.21,…

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ZAMBOANGA CITY: Security forces killed two Moro National Liberation Front rebels in a clash Thursday during a clearing operation in Zamboanga City in southern Philippines, officials said. Officials said the two bearded stragglers were armed with an M14 rifle and a machete when they attacked a group of soldiers and…

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Malacañang on Thursday lauded the country’s 20.2 percent increase in exports in August following a 2.3 percent increase in July. In a press conference, Palace spokesman Edwin Lacierda announced that the Philippines’ exports climbed more than expected in August. “Merchandise exports increased by 20.2 percent in August 2013 to $4.6…

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Technical Education Skills Development Authority (Tesda) chief Joel Villanueva admitted on Thursday that the agency has received P1.1 billion from the controversial Disbursement Acceleration Program (DAP) of President Benigno Aquino 3rd, but stressed that the fund was used to finance various skills training programs of the agency. Villanueva said the…

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The Department of Budget and Management (DBM) joined the membership for global organization Better Than Cash Alliance (BTCA) in their aim for all government agencies and officials to implement cashless transactions and payments by 2014. In the Poverty Summit held at the Philippine International Convention Center, Budget Secretary Florencio “Butch”…