Agriculture production shrinks 3.3%

CROPS OUTPUT, which made up 59% of the agriculture sector’s total production, jumped 3.3% in the first quarter. — PHILIPPINE STAR/ MICHAEL VARCAS THE COUNTRY’S agricultural output shrank by an annual 3.3% in the first quarter, as livestock and poultry production contracted, the Philippine Statistics Authority (PSA) reported on Monday. In a statement, the PSA said the value of production…

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GDP likely shrank anew in Q1 — poll

Localized lockdowns have been implemented due to the rising number of coronavirus cases. — PHILIPPINE STAR/ MICHAEL VARCAS PHILIPPINE gross domestic product (GDP) likely declined at a slower pace in the first three months of 2021 compared with the previous quarters, a BusinessWorld poll showed, as a renewed surge in coronavirus infections and a stricter lockdown imposed in Metro Manila…

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1.5M more CoronaVac doses arrive

The Philippines on Friday took delivery of 1.5 million more doses of CoronaVac made by China’s Sinovac Biotech Ltd., a task force said in a social media post on Friday. The country has received 5.5 million doses of vaccines — five million from Sinovac, 525,600 from AstraZeneca Plc. and 15,000 from Russia’s Gamaleya Research Institute of Epidemiology and Microbiology. The…

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Philippine COVID-infections hit 1.09M

The Department of Health (DoH) reported 7,733 coronavirus infections on Friday, bringing the total to 1.09 million. The death toll rose by 108 to 18,099, while recoveries increased by 4,227 to over one million, it said in a bulletin. There were 66,626 coronavirus infections,1.1% of which were critical, 94.4% were mild, 2% did not show symptoms, 1.5% were severe and…

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Timeless investments with M Lhuillier Jewellers

With the economic effects caused by the pandemic, it’s more important than ever to make smarter decisions about finances and be prepared for what comes next. As investments, fine jewelry continues to stand the test of time. While currencies often fluctuate, the value of precious metals and gems are stable and even increase over time, making jewelry a less risky…

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Monde Nissin gets investor commitments for $1-B IPO

SINGAPORE – Philippine food maker Monde Nissin Corp has secured investor commitments for a $1 billion initial public offering (IPO) at P13.50 ($0.28) each, in what would be the country’s biggest IPO on record, three sources familiar with the matter told Reuters on Wednesday. The owner of meat alternative Quorn had flagged the sale of up to 3.6 billion primary…

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Inflation steadies in April

INFLATION sustained its pace in April from the preceding month even as core inflation eased to a five-month low, the government reported this morning Preliminary data from the Philippine Statistics Authority showed the consumer price index rose 4.5% year on year last month, unchanged from March, but faster than April 2020’s 2.2%. April headline inflation was lower than the median…

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International Finance Awards hails Globe as fastest growing 5G network, Ernest Cu as best CEO

The 2021 International Finance Awards (IFA) recognized Globe Telecom as the “Fastest Growing 5G Network Service Provider” and hailed Globe President and Chief Executive Officer Ernest L. Cu as the “Best Telecommunications CEO.” The IFA Awards for Telecom seeks to validate the efforts of every contender that is technologically advanced and provides cutting-edge connectivity to customers all over the world.…

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Philippines vows to continue maritime exercises in South China Sea

MANILA – The Philippines will continue maritime exercises inside its 200-mile Exclusive Economic Zone (EEZ) in the South China Sea, the country’s defense minister said on Sunday, despite a call by China to stop actions that it said could escalate disputes. The Philippine coastguard and fisheries bureau started maritime exercises last month, having boosted its presence in the area to…

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NEDA pushes for reopening of economy once virus surge subsides

The National Economic and Development Authority (NEDA) said on Saturday there is a need to safely reopen the economy once the surge in coronavirus disease 2019 (COVID-19) infections starts to subside in order to restore jobs. “To accelerate job creation this year, a three-pronged strategy is advocated. First, the safe reopening of the economy immediately after this present spike, while…

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