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Remittance growth slowest in 3 months

By Melissa Luz T. Lopez Senior Reporter OVERSEAS FILIPINO workers (OFWs) sent more money home in February than a year ago even as it was the smallest increase in three months, the central bank reported on Monday. Such remittances totalled $2.267 billion for the month, up 4.5% from the $2.169-billion inflows tallied in February 2017, […] The post Remittance growth slowest in 3 months appeared first on BusinessWorld......»»

Category: financeSource: bworldonline bworldonlineApr 16th, 2018

Feb. growth of PHL factory activity slowest in 5 months

BUSINESS for factories in the Philippines bared “marginal” improvement in February, according to the latest monthly monitoring by IHS Markit for Nikkei, Inc. that showed manufacturing growth easing for the third straight month by the second-slowest pace since the country survey began in January 2016. The seasonally adjusted Nikkei Philippines Manufacturing Purchasing Managers’ Index (PMI) […] The post Feb. growth of PHL factory activity slowest in 5 months appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMar 1st, 2018

Infra spending growth slowest in 16 months in July

Infra spending growth slowest in 16 months in July.....»»

Category: financeSource:  philstarRelated NewsSep 21st, 2016

WB: PH ban on OFW deployment to Kuwait to have ‘muted’ effect on remittances

      The government's ban on the deployment of Filipino workers to Kuwait will unlikely dent the robust remittance flows to the Philippines, the World Bank said.   In its April 2018 Migration and Development Brief, the Washington-based multilateral lender noted that the Philippines was the third biggest recipient of remittances last year, reaching $33 billion.   Only India, with $69 million, and China ($64 billion) exceeded the Philippines' remittance inflows in 2017.   The 5.3-percent growth in remittances last year was faster than the 4.5 percent in 2016.   For the World Bank, "the impact on remittance inflows of ...Keep on reading: WB: PH ban on OFW deployment to Kuwait to have ‘muted’ effect on remittances.....»»

Category: newsSource:  inquirerRelated NewsApr 25th, 2018

Google parent Alphabet profit leaps on ad growth

SAN FRANCISCO, USA – Google parent Alphabet on Monday, April 23, reported a surge in quarterly profits, lifted by strong growth in the digital advertising segment it dominates along with Facebook. Profit in the first 3 months of 2018 soared more than 70% from a year to $9.4 billion, Alphabet said ........»»

Category: newsSource:  rapplerRelated NewsApr 24th, 2018

PH growth likely hit 6.8% in Q1– Moody’s Analytics

The Philippine economy is currently in a “sweet spot” with growth likely having accelerated in the first three months of the year, Moody’s Analytics said. “The Philippine economy likely grew 6.8 percent year-on-year in the first quarter,” it said in a report released over the weekend. Official gross domestic product (GDP) growth data is scheduled [...] The post PH growth likely hit 6.8% in Q1– Moody’s Analytics appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsApr 23rd, 2018

Exporters confident of recovery in second quarter

The Philippine Exporters Confederation Inc. (Philexport) brushed off concerns over export prospects after merchandise shipments in February declined, halting 15 consecutive months of growth......»»

Category: financeSource:  philstarRelated NewsApr 22nd, 2018

Netflix surges as users stay loyal despite higher prices

Netflix Inc. used to worry it would alienate customers by raising prices for its streaming service. Not any more. The company posted its strongest subscriber growth since going public 16 years ago, despite raising prices for most of its customers over the past several months. Los Gatos, California-based Netflix added 7.41 million users in the […] The post Netflix surges as users stay loyal despite higher prices appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsApr 17th, 2018

Remittance growth slows to 5.4% in February

Remittances from Filipinos overseas grew by a slower 5.4 percent to $2.53 billion in February from $2.39 billion in the same month last year, the Bangko Sentral ng Pilipinas reported yesterday......»»

Category: financeSource:  philstarRelated NewsApr 16th, 2018

Suns pledge upgrade in talent, experience after awful season

By Bob Baum, Associated Press PHOENIX (AP) — Maybe, just maybe, the worst is behind the Phoenix Suns. Their 50th anniversary season was awful, even worse than the two that came before. For the eighth season in a row, the Suns won’t make the playoffs. The win totals the past three seasons: 23, 24 and — this year 21. That 21-61 mark is the worst since Phoenix went 16-66 in its inaugural 1968-69 season. The season devolved in the final months, with injuries depleting the already exceedingly young roster, leaving a contingent of G League transfers to fill out the lineup in the final days. The Suns lost a franchise-record 15 straight in one stretch. Now, everyone involved is insisting, enough is enough. “I’m done with not making the playoffs,” rising star Devin Booker said as the players cleaned out their lockers and conducted exit interviews Wednesday (Thursday, PHL time). “I’m serious. This is probably my last year ever not making the playoffs. If that’s putting pressure on myself, I’m going to take this summer and work that hard so that it doesn’t happen again.” His goal is “turning the franchise around and getting it back how it used to be.” "You watch the highlights of Barkley, Nash and them and how alive the arena was,” Booker said. “So one of my goals is to get it back that way.” Booker, T.J. Warren and rookie Josh Jackson form the core of the young talent the Suns have accumulated. Dragan Bender and Marquese Chriss could be part of it, too, although their development has been uneven. But Phoenix needs experienced players, and not just old guys to cheer on from the sidelines. “The voice in the locker room or the voice when they’re teaching carries a lot more weight when the person is contributing,” interim coach Jay Triano said, “not just there as a teacher. ... They need those guys on the court to follow.” General manager Ryan McDonough agrees the time is come to ratchet up investment. To begin with, Phoenix has the most ping pong balls in the May 15 lottery and a chance at the No. 1 overall pick. At worst, the Suns will draft No. 4. They will have one, and maybe two, more first-round picks. “We’ll be one of five or six teams with more than $10 million in cap space,” McDonough said, “and I think we have the ability to create significantly more if we want it.” So the assets are there if they can be translated into needed players, and not teenagers, except that early first-round pick. Three years of concentrating on acquiring this young talent is long enough, McDonough said. “If you go beyond that I think the losing starts to set in and the guys start to become accustomed to that and the bar is lower,” he said. “Next year we’re going to try to raise the bar. We’re going to try to raise our standards. We won’t be as young. We won’t have nearly as many young players as we had last year.” A couple of things to consider after the Suns’ miserable season. COACH SEARCH: McDonough said the search will begin immediately for a head coach with a list of five to 10 candidates in mind. Triano would like the job. He took over after Earl Watson was fired just three games into the season. McDonough said he would like to have a coach in place before the draft combine and lottery in mid-May. BOOKER’S CONTRACT: The Suns would like to have Booker sign a maximum contract extension in the offseason and he’s open to the idea. Triano knows that Booker is tired of losing and believes things will get better for his budding star with more experienced talent around him. “He looks around the locker room and sees what it is and he knows that it’s time,” Triano said. “I think the growth that he’s gone through individually as a leader and the capability he’s been able to show as a scorer has set the tone to make this an attractive place and to have him be the focal part of that. People around the league want to play with Devin Booker.” KNIGHT IN WAITING: One of the biggest needs for Arizona is at point guard, and they’ve had one watching from the sidelines all season. Brandon Knight, left over from the old days of three point guards with Eric Bledsoe and Isaiah Thomas, missed the entire season with a torn ACL. Once stuck at the end of the bench with no playing time when he was able to go, he’s being talked about as the starter alongside Booker next year. “As a competitor, as a winner, I just love to play the game,” Knight said. “I had the game taken away from me by the injuries and due to other things. ... I’m just trying to help the Suns in any way I can.”.....»»

Category: sportsSource:  abscbnRelated NewsApr 12th, 2018

Trade gap grows as exports drop

MERCHANDISE EXPORTS in February fell for the first time in 15 months while imports continued to grow by double digits leading to a wider trade deficit, the Philippine Statistics Authority (PSA) reported yesterday. Preliminary data from the PSA showed merchandise export sales dropped 1.8% to $4.659 billion, compared to the revised 3.5% growth in January […] The post Trade gap grows as exports drop appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsApr 11th, 2018

Are the Sixers too young for playoff success?

By Shaun Powell, NBA.com The learning curve of the Philadelphia 76ers has taken on a new, more direct and simpler geometric shape. It’s now a straight line, pulled and yanked that way by an impatient team determined to take the expressway from now on. And so this is where The Process has led them, to the NBA playoffs, a place exclusively reserved for Big Boy Basketball, where we get to see if the Sixers will skip another floor in their rapid developmental rise or if youth is about to get served a lesson. Hey, if nothing else, it beats wiping away the stench of losing, which is what coach Brett Brown was doing this time the last few years before this club finally grew up and as we now see, blew up. "This year we exceeded 50 wins and when you do that, you get into NBA elite territory which is something different for us,” he said. “But what’s interesting is we want more. We have more room to grow and we want to do that now.” Yes, the Sixers, finally sprung free of the dark ages, have crashed the annual spring show and are doing so rather emphatically in addition to surprisingly. Surely you saw this coming this quickly, no? On Christmas Eve they were 14-18. Their sensational big man, Joel Embiid, was getting the kid glove treatment, rarely playing extended minutes or consecutive games because of his brittle injury history. Their top draft pick, Markelle Fultz, was out with a bad shoulder and a broken jumper. Obviously, they’d just emerged from their four years of Tankapalooza with the trepidation of a chick stumbling from the nest. And quite simply, four months ago they just weren’t good enough to be lumped with the lead pack. Yet. But since then, what the hell just happened? “This group has come together from a toughness standpoint, a spirit standpoint,” Brown said. To say the least. The Sixers are 50-game winners, with a strong Kia Rookie of the Year candidate in Ben Simmons and a top-10 talent in Embiid, whose orbital injury that cost him the final eight regular season games should be healed for the playoffs at some point. Everything has fallen into place to make Philly a basketball destination once again, and these Sixers find themselves in a unique situation heading into the weekend. That’s because the playoff landscape in the East is favorable for someone like Philly to pull a surprise or two. Can they last a round? Of course; they’ll be a favorite initially. How about reaching the Eastern Conference finals? That’s trickier, and it’ll come down to matchups, but stranger things have happened. And, the NBA Finals? Well. Consider that there’s no true beast taking up space in the East and sending shivers everywhere. All of the contenders are showing a scratch or two: Toronto brings a blah playoff history; some of LeBron James’ supporting cast in Cleveland is untested; the Celtics are without Kyrie Irving, not to mention Gordon Hayward. The Sixers are the wild card in the playoff picture. Their wart is their inexperience in these matters. And so: Are they too young to be taken seriously? “I understand why people might think that, but I think we’ll be fine,” said JJ Redick, the resident senior citizen at age 33. “I don’t expect any of us to play differently than we have lately. These young guys are all gamers.” The Sixers are uniquely built; their twin core of Simmons and Embiid has played a combined three NBA seasons. Redick is the only starter with playoff experience and is also the only player in the rotation who ever played a major role in the playoffs. The Sixers are cubs compared to most of the East, even those teams below them. Essentially, the veterans on the Sixers orbit around the youngsters, instead of vice versa. Brown regularly takes the temperature of his players and has yet to pause at the results he’s seeing. For the most part, this has worked out better than he and they expected. “At this stage you figure how you deliver a team to the playoffs, how do you arrive at the playoffs,” Brown said. “Well, you can check three boxes: Their health, their spirit and their form. And finally: Are they playing good basketball? They’re all very interconnected, they’re all closely intertwined. Those things rule my day when I watch film and see how hard and long we’re going to go in practice. These guys have embraced and improved in those areas. Our defense has been excellent and we’re regularly getting 30 assists as a team, another example of a team enjoying each other’s company.” This makes for an interesting postseason baptism. There’s hope in Philly that Simmons and Embiid and Robert Covington and Dario Saric won’t know the difference between March basketball and May basketball. “We’ll just come and play the same way we’ve been doing,” Simmons said. The other advantage for Philly is Simmons appears well beyond his years. His expression is stoic, no matter the game circumstances, and his poise has yet to shatter memorably and cost the Sixers when it counts. He’s giving 16 points, eight rebounds and eight assists a night and had at least 10 points, five rebounds and five assists in 58 games, second only to Russell Westbrook and LeBron James. He is the first rookie in NBA history to average eight assists on a 50-win team. It remains to be seen how a 56-percent free throw shooter will respond if he’s put in that situation with the game on the line. Otherwise, his court direction and ability to reach the rim should not suffer from springtime stage fright. “Ben sits behind a glass wall and watches everyone else on the other side,” Redick said. “There’s nothing that affects him. He plays with the same demeanor and purpose no matter what’s going on around him. He brings a calm presence, and the maturity he plays with is beyond his years. Impressive.” Brown said: “He’s the stone cold Rookie of the Year and to me it’s not even close.” Philly’s best player is Embiid, though, and he’ll play with a mask once he does return, perhaps sometime in the first round. If he doesn’t suffer any lasting effects from the facial injury (vision, lack of balance), he’ll be the premier big man on the floor in the East. This allows the Sixers to exploit their low-post advantage over the Celtics, Raptors and Cavs should Philly meet any of those contenders along the way. The Sixers are also working with a pair of bonuses in Fultz and Ersan Ilyasova, two players they didn’t anticipate being in the playoff mix just a few months ago. Fultz is finally free of his shoulder woes and his shooting is starting to come around, to the point where Brown says he’ll find a role for Fultz in the rotation. Basically, the Sixers feel safe enough to put him on the floor, something that would’ve been a reach before he was activated, when he showed a nasty mechanical hitch in a jumper that somehow went south on him. “We don’t feel we’re going to be caught off guard with him,” Brown said. Ilyasova was gift-wrapped to Philly by the Hawks at midseason and has since been a solid source of scoring (17 points in a two-point win over Cleveland last week) and deepened the Sixers’ bench, allowing Brown to use a variety of different lineups and strategies. In all, the manner in which the season has come together is paying off at the right time for Philly. “We didn’t have this level of maturity in November and December,” Redick said. “If you look at some of our losses early in the season I felt they were immature losses. We’re more focused, more together, developed a mental toughness. Sometimes in life and in this league you have to go through things and experience things to grasp how to do them. There’s no better learning tool than the actual experience. So blowing a lead or coming back from a large halftime deficit, you have to do those things to understand that you can do it. Having those lessons early in the season has prepared us to have a great run since Christmas; we have the second best record in the league since then. This is better than what I expected or even hoped for. It’s been a long sustained growth period.” What does it all mean? Well, even though they’re entering the playoffs with the force of a hurricane, this isn’t the NCAA tournament. This is best-of-seven basketball, which means a team must prove itself worthy of moving on, instead of hoping to get lucky or hot. In the case of Philly and others in the East, that means beating LeBron four times in a series, and that hasn’t happened since 2010. You could also make the case the Sixers are playing with house money at this point, no matter what happens; after enduring The Process and painful progress, this is a blessing, a reward. The Sixers aren’t seeing it that way, though, not after growing up in a hurry. They want to seize the opportunity now, and any playoff success will largely depend on how they handle this as first-timers. Your guess is as good as Brown’s. “You really don’t know what to expect,” Brown said. “There’s no body of work. I will give our guys the benefit of the doubt. The poise they have shown in the regular season, the poise they’ve shown in big games and key moments, gives me tremendous confidence that we will handle this stage with a greater level of poise than what I might have guessed in October, or what I might have guessed not so long ago if you asked me questions about how will rookies and young guys handle this very different part of the season.” Veteran NBA writer Shaun Powell has worked for newspapers and other publications for more than 25 years. You can e-mail him here or follow him on Twitter. The views on this page do not necessarily reflect the views of the NBA, its clubs or Turner Broadcasting. .....»»

Category: sportsSource:  abscbnRelated NewsApr 11th, 2018

Maybank sees technology driving growth in SE Asia

SINGAPORE – New technology is set to drive change in Southeast Asia as equity funding in startups more than doubled in the first eight months of last year, d.....»»

Category: financeSource:  philstarRelated NewsMar 28th, 2018

Goldman Sachs says no need to fret yet about soft global growth

GOLDMAN Sachs Group, Inc. economists who are tracking weaker global growth this quarter say there’s no reason to fret that a deeper slowdown is coming. While there has been some ebbing in the first three months of the year, world gross domestic product is still expanding slightly above Goldman Sachs’ full-year forecast of 4.1%, according […] The post Goldman Sachs says no need to fret yet about soft global growth appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMar 28th, 2018

Tencent net profit beats estimates as WeChat games drive strong growth

TENCENT HOLDINGS Ltd. posted quarterly profit that beat estimates, bolstered by mobile game blockbusters like Honour of Kings and a growing ad business. Net income at China’s largest company almost doubled to a record 20.8 billion yuan ($3.3 billion) in the three months ended December. That compares with the 16.6 billion-yuan average of estimates compiled […] The post Tencent net profit beats estimates as WeChat games drive strong growth appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMar 21st, 2018

Slower remittance growth seen for Jan

Full-year result still expected to be an improvement from 2017 – HSBC Money sent home via banks by migrant Filipinos likely posted slower growth at the start of the year, banking giant HSBC said, but the full-year result is expected to be an improvement from 2017. “We expect [cash]remittances to expand 5.1 percent y-o-y (year-on-year) [...] The post Slower remittance growth seen for Jan appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsMar 15th, 2018

Luxury car dealership business drives Berjaya PHL’s Q3 profit

BERJAYA Philippines, Inc. booked a single-digit growth in the quarter ending January 2018, as the company recorded higher sales in its luxury automobiles segment. In a regulatory filing posted on Wednesday, the listed firm reported a net income attributable to the parent of P194 million in the three months ending January, up by 3% from the […] The post Luxury car dealership business drives Berjaya PHL’s Q3 profit appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMar 14th, 2018

Remittance growth to pick up as OFWs benefit from weaker peso — HSBC

CASH REMITTANCES are expected to grow faster this year as overseas Filipino workers (OFWs) will likely take advantage of a weaker peso to send more funds to their families back home, analysts at a global bank said, even as they flagged risks from a deployment ban to Kuwait. HSBC Global Research said remittances likely grew […] The post Remittance growth to pick up as OFWs benefit from weaker peso — HSBC appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMar 14th, 2018

Berjaya PHL Q3 net income up 3%

Berjaya Philippines, Inc. booked a single-digit growth in the quarter ending January 2018, as the company recorded higher sales in its luxury automobiles segment. In a regulatory filing posted on Wednesday, March 14, the listed firm reported a net income attributable to the parent of P194 million in the three months ending January, up by […] The post Berjaya PHL Q3 net income up 3% appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsMar 14th, 2018

Hyundai vehicle sales down in February

Hyundai Asia Resources, Inc. (Hari), the official distributor of Hyundai vehicles in the Philippines, saw a slight decline in total sales in February due to lower sales of its light commercial cars. According to Hari data, the Hari sold 2,649 units in February this year, sliding 0.2 percent from the 2,653 unit sales it reported in the same month in 2017. This was dragged down by a 5-percent year-on-year decline in sales of light commercial vehicles for the month of February, offsetting the 2-percent growth in the sale of passenger cars. For the first two months, however, the company reported a 1.5-percent sales growth to 5,552 units from 5,470 units in the same period of 2017. ...Keep on reading: Hyundai vehicle sales down in February.....»»

Category: newsSource:  inquirerRelated NewsMar 14th, 2018

Trade deficit narrows in January to $3.32 billion

Trade deficit narrowed in January, slightly slimming the gap as exports inched up and as imports — still posted double digit growth — slows. Exports rose by 0.5% to $5.219 billion in January, slower than the previous month’s 2.3% growth and the 22.0% posted in January 2017. This was the slowest turnout since the 4.5% […] The post Trade deficit narrows in January to $3.32 billion appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMar 9th, 2018