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Typhoon to cut GDP growth in Q3

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An electric post is toppled at the height of Typhoon “Glenda” (international name: Rammasun) in Noveleta, Cavite province. The typhoon led to power outages affecting a total of 13.5 million people in Luzon, including Metro Manila, and the Visayas. EDWIN BACASMAS/INQUIRER FILE PHOTO

Typhoon “Glenda” likely shaved at least P7.8 billion to as much as P10 billion off the country’s third-quarter economic output a day in terms of property damage as well as business and consumption disruptions, an economist from Citigroup estimated.

Posted: July 21st, 2014 in Editor's Pick,Headlines | Read More »

2nd quarter GDP growth seen at 6.3%

Economic growth likely started to accelerate in the second quarter of the year, pulled up by reconstruction efforts and higher demand for the country’s exports fueled by the recovery of advanced economies.

Posted: June 21st, 2014 in Headlines | Read More »

‘Yolanda’ slows down roaring PH economy

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In this Nov. 15, 2013, photo, some of the estimated 33 million coconut trees toppled by Typhoon Yolanda (Haiyan) block a road in Leyte province. Philippine economic growth in the first quarter was dampened by a major earthquake and the typhoon but the economy is still expected to hit its target for 2014, officials said Thursday, May 29, 2014.  AP PHOTO/BULLIT MARQUEZ

The Philippine economy’s growth momentum lost steam in the first quarter of the year as the impact of Super Typhoon Yolanda (international name: Haiyan) and other natural disasters hit harder than expected.

Posted: May 30th, 2014 in Latest Business Stories | Read More »

Stocks dip on GDP report

The local stock index on Thursday fell sharply as investors sold down equities due to the lower-than-expected economic growth in the first quarter.

Posted: May 30th, 2014 in Editor's Pick,Headlines | Read More »

Gov’t to showcase ‘PH Miracle’ in WEF meetings

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Finance Secretary Purisima gestures during a news conference on the forthcoming World Economic Forum in East Asia on Thursday, May 15, 2014, at the financial district of Makati. To his left is Sushant Palakurthi Rao, senior director-head of the Asia WEF, and to his right is Tourism Secretary Ramon Jimenez Jr.  AP PHOTO/BULLIT MARQUEZ

For a week, Metro Manila will become the center of Asia as it plays host to most of the continent’s most powerful personalities in government, business, and civil society.

Posted: May 16th, 2014 in Latest Business Stories | Read More »

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