Local economists on Wednesday expressed surprise over the disappointing GDP figure of 3.4 percent posted for the April-June period. The Philippine economy in the first semester also posted a slower 4 percent growth as weakness in construction and industry offset the rise in consumer spending amid a lackluster global recovery. The economists all noted the [...]
Asian markets were mostly up Wednesday, extending a recent rally on renewed hopes for a fresh round of US monetary easing despite weak consumer confidence data in the United States and Europe.
PARIS—The growth of global trade in goods, a critical factor in the health of the world economy, slowed down sharply in the second quarter of the year, the OECD [Organisation for Economic Co-operation and Development ] said on Wednesday. But China and Brazil ramped up their exports of goods. The slowing of growth was radical: [...]
Carrefour, the world’s second-biggest retailer, reported on Wednesday a half-year loss of 249 million euros ($359 million) and said it now expected annual operating profit to drop by 15 percent.
The Bangko Sentral ng Pilipinas may keep interest rates steady when members of the Monetary Board sit down on September 8, as concern has shifted from rising inflationary pressures to slow growth of the economy. BSP Deputy Governor Diwa Guinigundo said the country’s rate of growth in the second quarter was below expectations. That will [...]
State-run National Power Corp. (Napocor) has sought for an additional P4.3 billion in fees to enable its small power utilities group (SPUG) to continue operations, as well as prevent fuel shortages and the consequent shutdown of power facilities in off-grid, missionary areas. This means, however, that Napocor will have to collect an additional 6.93 centavos [...]
Yield on the seven-year treasury bond on Wednesday hit an average of 4.936 percent, down 8.1 basis points from the 5.017 percent posted in the auction last month for bonds of the same tenor. Wednesday’s average was, however, higher than the 4.9 percent yield for done deals in the secondary market. Investors tendered a total [...]
Regional airline Tiger Airways plans to start flights between Davao and Singapore by November this year. In a statement, Tiger Airways, partly owned by Singapore Airlines, said it would fly three times a week—Tuesdays, Thursdays and Sundays—to the Mindanao city, making it the airlines’ fourth destination in the Philippines. “We are excited to add Davao [...]
In an effort to reduce the judicial and legal systems’ impact on the environment, and make better use of scarce court time, the Supreme Court’s subcommittee on the revision of rules of civil procedure approved the Rule for the Efficient Use of Paper and Court Time (Proposed Rule). The Proposed Rule, which is part of [...]
Britain’s biggest retailer Tesco announced on Wednesday that it is pulling out of Japan after eight years and putting its 129 small supermarkets on sale to focus on other operations in Asia.
Oil prices slid on Wednesday as traders awaited employment and energy inventories data in the United States, which is the world’s top crude-consuming nation.
Wireless equipment maker LM Ericsson says it plans to open a global network operations center in China due to higher demand for managed services.
