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Third-quarter GDP growth disappoints

THE PHILIPPINE ECONOMY grew at its slowest pace in three years last quarter, weighed down by tempered household spending amid high inflation and farm contraction, the Philippine Statistics Authority (PSA) said on Thursday......»»

Category: financeSource: bworldonline bworldonlineNov 8th, 2018

Stocks drop as GDP growth disappoints

Stock market investors reacted negatively on the disappointing second quarter performance of the economy– a lackluster six percent growth– as the benchmark Philippine Stock Exchange index lost 30.75 points or 0.39 percent to finish at 7,8270.71......»»

Category: financeSource:  philstarRelated NewsAug 9th, 2018

Starbucks key sales figure disappoints; shares fall

  NEW YORK --- Starbucks reported disappointing sales growth in its most recent quarter, and shares of the coffee chain fell in after-hours trading on Thursday.   But the company also said it expects to earn more this year than it had previously expected, due to the recent changes in United States tax law that slashed the corporate tax rate.   Looking ahead, the company said it will focus on streamlining its business, like the recent sale of its Tazo tea brand, but it didn't provide details. It also wants to lure more customers to buy coffee and food in the afternoon, and it will focus on opening more stores in China, its fastest-growing market. &...Keep on reading: Starbucks key sales figure disappoints; shares fall.....»»

Category: newsSource:  inquirerRelated NewsJan 26th, 2018

Analysts’ Q4, Full-Year 2018 Growth Estimates

ECONOMIC OUTPUT growth likely missed the official goal in the fourth quarter and full-year 2018, even as it is expected to remain above six percent, results of a BusinessWorld poll showed. Read the full story......»»

Category: financeSource:  bworldonlineRelated News6 hr. 33 min. ago

Poll bares muted GDP view for 2018

ECONOMIC OUTPUT growth likely missed the official goal in the fourth quarter and full-year 2018, even as it is expected to remain above six percent, results of a BusinessWorld poll showed......»»

Category: financeSource:  bworldonlineRelated News6 hr. 33 min. ago

PH industrial sector profit slower in Q3

Gross revenue growth in the Philippine industrial sector slowed in the third quarter of 2018, easing to 8.1 percent from 8.6 percent a year earlier, the Philippine Statistics Authority (PSA)…READ The post PH industrial sector profit slower in Q3 appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsJan 17th, 2019

Economy seen to hit speed bumps in 2019

The Philippine economy may hit some speed bumps this year with the first quarter gross domestic product (GDP) growth falling below six percent for the first time in more than three years, according to Dutch financial giant ING Bank......»»

Category: financeSource:  philstarRelated NewsJan 15th, 2019

Remittance growth slows in November

MONEY SENT HOME by overseas Filipino workers (OFWs) grew in November last year, sustaining an increase for the third straight month and likely fueling household spending in 2018’s fourth quarter, according to data released on Tuesday by the Bangko Sentral ng Pilipinas (BSP)......»»

Category: financeSource:  bworldonlineRelated NewsJan 15th, 2019

Prescott, Cowboys push past Seahawks for 24-22 wild-card win

By Schuyler Dixon, Associated Press ARLINGTON, Texas (AP) — Dak Prescott saw an opening up the middle, then three defenders between him and the first down. The Dallas quarterback found a way to get there, and get his first playoff victory two years after a sensational rookie season ended in disappointment. Ezekiel Elliott rushed for 137 yards and the go-ahead touchdown in the fourth quarter, Prescott scored on a sneak after his dazzling head-over-heels run and the Cowboys hung on for a 24-22 wild-card win over the Seattle Seahawks on Saturday night. The win for the Cowboys (11-6) was the first for Elliott and Prescott after losing a divisional game in their playoff debut as first-year stars two years ago. Dallas will play at either New Orleans or the Los Angeles Rams in the divisional round next weekend. "It's really just a chance to keep going on, simple as that," Prescott said. "Me and this whole team, we want to win it all. You can't do that without taking care of the first one. A lot of excitement, but my goal is bigger than just one playoff win." The loss ended a run of nine straight victories in playoff openers for the Seahawks (10-7). The Elias Sports Bureau says it was the longest streak in NFL history. Leading 17-14, Prescott faced third-and-14 from the Seattle 17 with the 2-minute warning approaching. He took off up the middle on a QB draw, barged through a trio of defenders 6 yards short of the first and went down at the 1 when he was flipped head-first by Tedric Thompson. Prescott, who also had an 11-yard scoring pass to Michael Gallup in the first half, scored on the next play in the eighth win in nine games for the Cowboys. "He's just a rare guy," coach Jason Garrett said. "His leadership, his toughness, just his way, his spirit. It's like none other. Somehow, some way, he's going to figure this thing out for us." Dallas' defense, ranked in the top 10 most of the season, stifled the NFL's No. 1 rushing offense and mostly kept quarterback Russell Wilson under control and handed him his first loss in four wild-card games. The Seahawks had finished the regular season with six wins in seven games to secure Wilson's sixth playoff trip in seven years despite a roster overhaul and 0-2 start. "This has been a special, special year," Wilson said. "Just the growth of our team, the men in the locker room, just the way that we've played together, just eliminating the doubters and the things that people thought that we could only do." Prescott, the NFL Offensive Rookie of the Year in 2016 when the Cowboys lost to Green Bay at home as the top seed in the NFC, threw for 226 yards, and his sneak for what appeared to be a clinching score because Dallas burned more than five minutes while taking 24-14 lead. But Tyler Lockett's 53-yard catch set up a quick Seattle touchdown — Wilson's 7-yard scoring pass to J.D. McKissic. The Seahawks got within two on their second 2-point conversion following an injury to Sebastian Janikowski. The missing kicker left the Seahawks no good options on an onside kick with 1:18 remaining. Punter Michael Dickson's drop kick was caught by Cole Beasley at the Dallas 31, sealing the first playoff win for the Cowboys since beating Detroit in the wild-card round in the 2014 season. After Wilson ran for 4 yards for a touchdown and Mike Davis' 2-point conversion run put Seattle up 14-10 late in the third quarter, Prescott led a 67-yard drive to put the Cowboys back in front for good. A 34-yard pass to Amari Cooper , who had seven catches for 106 yards, led to Elliott's 1-yard plunge after an apparent touchdown by the quarterback was overturned on replay. Prescott then had a chance to give the Cowboys a 10-point lead, but K.J. Wright made a juggling interception in the end zone. Dallas' defense came through again, though, forcing a punt and giving Elliott a highlight play before Prescott added his. The NFL rushing leader stiff-armed Shaquill Griffin on a 17-yard run to get inside the 20. Seattle got a double dose of bad news at halftime when Janikowski missed a 57-yard field goal on the final play and injured his left hamstring. He yelled as he grabbed the back of his leg and limped to the locker room, unable to return. Still, the Seahawks took their first lead basically because the 40-year-old's injury forced them to try. Facing fourth-and-5 in Janikowski's range from the Dallas 39, Doug Baldwin made a toe-dragging catch on the sideline for 22 yards. After Wilson's TD run, the Seahawks pushed their lead to 14-10 on Mike Davis' run. But the Cowboys never did lose control of the Seattle running game after allowing Chris Carson's first career 100-yard game in a Week 3 Seattle win that turned the season for the Seahawks, who finished the regular season with six wins in seven games. Carson had just 20 yards on 13 carries. Wilson was 18 of 27 for 233 yards, with Lockett getting four catches for 120 yards. The Seahawks had 73 yards rushing after averaging 160 during the season. Dallas came in with the No. 5 rushing defense. "Once we go up, we do a pretty good job of getting ourselves back down, knowing that we've got to start over next week and we've got to be able to do it again," linebacker Leighton Vander Esch said. "It's a full attack mode." INJURIES Cowboys receiver Allen Hurns fractured his left ankle in a gruesome first-quarter injury. Owner and general manager Jerry Jones said after the game that Hurns was "probably in surgery at this time." Hurns was being dragged down by Seahawks safety Bradley McDougald at the end of a 14-yard catch for a first down when his lower left leg appeared to buckle. ... Seahawks cornerback Neiko Thorpe left in the first half with a shoulder injury. UP NEXT Cowboys: New Orleans or the Los Angeles Rams on the road in the divisional round next weekend......»»

Category: sportsSource:  abscbnRelated NewsJan 6th, 2019

MVP Ladder: Irving enters chase with work on, off the floor

By Sekou Smith, NBA.com The best of Kyrie Irving, both on and off the floor, has been on display the past few weeks. With the Boston Celtics’ season at an early crossroad, of sorts, it was Irving who stepped into the leadership void to steer things in the right direction. With injuries to key players complicating matters and chemistry issues still being sorted out, Irving was the veteran willing to step up and speak out in an effort to make sure the Celtics dealt with their issues head on. The Celtics had an inconsistent start to the season (10-10) before going on a eight-game win streak that was more like what was expected of them, only to hit the skids again briefly and lose three straight games before Irving piped up. "I think everyone can see that we've obviously had some inconsistencies regarding our play,” he said, “so I think it was just time to address it." A 36-minute players meeting in the locker room after a Dec. 21 (Dec. 22, PHL time) home thumping from Giannis Antetokounmpo and the Milwaukee Bucks was enough for Irving, who didn’t spare anyone (himself included) from the harsh spotlight. It was a cathartic moment for the Celtics, who saw Al Horford return from a seven-game absence just in time for Sunday’s win in Charlotte. Kyrie was at his superstar best with the bright lights shining on Christmas. He torched the Philadelphia 76ers for 40 points, unleashing his full offensive arsenal (shooting 17-for-33 from the floor, 5-for-10 from deep), while also grabbing 10 rebounds and dishing out three assists. He was in showtime mode again Thursday night (Friday, PHL time) against James Harden and the Houston Rockets at Toyota Center, finishing his night with 23 points, 11 assists, five rebounds and just one turnover. The Celtics simply had no answer for Harden, who like Irving moves up the ranks on this week’s Kia Race to the MVP Ladder. But it’s clear Irving is ready to shoulder the burden of leading these Celtics, in whatever way necessary. * * * The top five this week in the 2018-19 Kia Race to the MVP Ladder: * * * 1. Giannis Antetokounmpo, Milwaukee Bucks Last week: No. 1 Season stats: 26.4 points, 12.8 rebounds, 5.9 assists, 1.4 blocks, 1.3 steals Antetokounmpo turned Madison Square Garden into his very own Christmas playground when he smoked the Knicks for 30 points, 14 rebounds, four steals, three assists and two blocks to kick off the league’s showcase day. And just so the Knicks know it wasn’t a fluke, he hurried them again Thursday night (Friday, PHL time) at Fiserv Forum with 31 points, 14 rebounds, eight assists and four blocks in another rout. The Greek Freak is making it tough for anyone to nudge him from the top spot on this list; he’s averaging 24.8 points (on 60.9 shooting), 12.6 rebounds  5.6 assists and 1.7 blocks in his last 10 games. The Bucks are cruising during this stretch as well, solidifying their position as one of  the top teams in the Eastern Conference and the entire league at the close of the calendar year 2018. If this is just the warm up for 2019, Antetokounmpo can really crank up his MVP campaign between now and the All-Star break. 2. Kawhi Leonard, Toronto Raptors Last week: No. 2 Season stats: 26.4 points, 8.5 rebounds, 3.2 assists, 1.8 steals Leonard and the Raptors didn’t get an opportunity to showcase themselves for the world to see on Christmas but made up for that scheduling snafu with an instant classic in a win over Miami on the day after the holiday. Leonard scored 30 points, grabbed eight rebounds and had two assists and two steals in the winning effort. December has been good to the Raptors’ prized summer acquisition — he’s averaging 30.1 points (on .520 shooting) to go along with his 8.1 rebounds, 3.0 assists and 2.0 steals. For all of the chatter about how good the Raptors have been with Leonard out of the lineup and how good their quality depth is and has been all season, the fate of this team rests on Leonard’s broad shoulders come playoff time. He’s the one element they’ve lacked in previous runs, as a true crunch-time, go-to player in the postseason. All that noise about him not being an ideal vocal leader looks like just that at this stage of his tenure in Toronto. 3. LeBron James, Los Angeles Lakers Last week: No. 3 Season stats: 27.3 points, 8.3 rebounds, 7.1 assists, 1.3 steals Lakers Nation held its collective breath earlier this week, awaiting the word on LeBron’s MRI after he heard a “pop” when he went down in the third with a groin injury in the third quarter of the Lakers’ Christmas Day (Dec. 26, PHL time) blowout over the Golden State Warriors at Oracle Arena. The news was better than expected but the catalyst for the Lakers’ revival this season is still expected to miss “several games.” This could actually prove to be a critical stretch for the Lakers. If they can manage to maintain their position in the Western Conference standings without LeBron in uniform, it’ll speak volumes about the growth and development of their youngsters. It will also instill some confidence in the entire group if they can piece together a few wins without the new king of Los Angeles. All that said, it would be shortsighted of anyone to dismiss the work LeBron has put in during the early-season turnaround this team has undergone. He was playing as well as anyone in the league this month (25.8 points on .516 shooting, 9.3 rebounds, 8.2 assists and 1.3 steals). 4. Stephen Curry, Golden State Warriors Last week: No. 4 Season stats: 28.6 points, 5.2 assists, 5.0 rebounds, 1.3 steals Curry bounced back from yet another uncharacteristic Christmas Day (Dec. 26, PHL time) performance (just 15 points on an ugly 5-for-17 shooting) with a big night against his brother Seth and the Portland Trail Blazers. But his 29 points and a triple-double from Kevin Durant wasn’t enough to lift the Warriors past Damian Lillard’s late-game heroics against his hometown team. If there was ever a time to be concerned about Curry and these Warriors, it’s now. Draymond Green and Klay Thompson cannot find their marks. The bench production is non-existent at times. And the edge the Warriors have used to their advantage for years seems to have vanished. The boost they need is more than just adding a superstar talent like Boogie Cousins (whose recovery from his Achilles injury seems to be in hyperdrive). The Warriors might need both Curry and Durant to go off script a bit and shake things up by going nuclear offensively to strike fear in teams the way this team once did. They’ve become far too predictable a target without the proper support from their other stars. 5. James Harden, Houston Rockets Last week: No. 7 Season stats: 32.3 points, 8.4 assists, 5.7 rebounds, 2.1 steals The reigning Kia MVP will not be denied any longer. Harden has been on an absolute tear of late and is bringing the Rockets back into focus in the Western Conference playoff chase while doing so. He’s posted back-to-back 40 point games (45 in their Friday, PHL time showdown win over the Boston Celtics and 41 in their Dec. 26, PHL time win over the Oklahoma City Thunder). He’s currently on a career-best eight-game run scoring 30 or more points, the first player to do so since Russell Westbrook did it in November of 2016. Harden’s the first to score 35 or more in six straight games since former teammate Carmelo Anthony accomplished the feat in April of 2013. Harden’s eight games of 40 or more points this season leads the league (Anthony Davis is second with five). The Celtics tried every player in uniform to stop him but to no avail. But Harden’s best work has been pulling the Rockets out of their sub-.500 hole at Thanksgiving to a season-best four games over .500 as they close out the 2018 portion of their schedule. * * * The next five 6. Paul George, Oklahoma City Thunder 7. Nikola Jokic, Denver Nuggets T-8. Kevin Durant, Golden State Warriors T-8. Joel Embiid, Philadelphia 76ers 10. Kyrie Irving, Boston Celtics And five more: Anthony Davis, New Orleans Pelicans; De’Aaron Fox, Sacramento Kings; Tobias Harris, Los Angeles Clippers; Damian Lillard, Portland Trail Blazers; Russell Westbrook, Oklahoma City Thunder Sekou Smith is a veteran NBA reporter and NBA TV analyst. You can e-mail him here, find his archive here and 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 NewsDec 29th, 2018

Intellasia East Asia News - World Bank downgrades Philippines forecasts

Intellasia East Asia News The World Bank has downgraded its growth forecasts for the Philippines this year and next on assumptions of a reenactment of the national budget in the first quarter and weak.....»»

Category: newsSource:  manilanewsRelated NewsDec 24th, 2018

Still East Asia’s fastest economy

The Philippines would remain one of the fastest-growing economies in the Pacific and East Asia regions despite lower growth rate projection over the next two years, the World Bank (WB) said. Investment growth however maybe be tempered in the first half of 2019 due to the possible reenactment of the first-quarter 2019 budget In a […].....»»

Category: newsSource:  tribuneRelated NewsDec 22nd, 2018

World Bank downgrades Philippines forecasts

The World Bank has downgraded its growth forecasts for the Philippines this year and next on assumptions of a reenactment of the national budget in the first quarter and weakness in global demand that may continue to hurt exports......»»

Category: financeSource:  philstarRelated NewsDec 22nd, 2018

Oct. remittance data bare GDP boost

MONEY sent home by overseas Filipino workers (OFWs) grew by its fastest clip in six months in October, according to data the Bangko Sentral ng Pilipinas (BSP) released on Monday, prompting analysts to expect household spending that fuels overall economic growth but whose growth has slowed lately to have picked up this quarter......»»

Category: newsSource:  bworldonlineRelated NewsDec 17th, 2018

Overseas Filipinos’ cash remittances (October 2018)

MONEY sent home by overseas Filipino workers (OFWs) grew by its fastest clip in six months in October, according to data the Bangko Sentral ng Pilipinas (BSP) released on Monday, prompting analysts to expect household spending that fuels overall economic growth but whose growth has slowed lately to have picked up this quarter. Read the […].....»»

Category: newsSource:  bworldonlineRelated NewsDec 17th, 2018

Foreign investment pledges up 6.5% Q3 | Inquirer Business

Investment pledges from foreign investors rose for the second straight quarter, registering growth of 6.5 percent year-on-year to P45.9 billion in the quarter ending September. The post Foreign invest.....»»

Category: newsSource:  philippinetimesRelated NewsDec 7th, 2018

Approved foreign investment pledges (Q3 2018)

APPROVED foreign direct investment (FDI) commitments rose to their highest level in nearly two years last quarter even as growth slowed from the preceding three months and a year ago, according to data the Philippine Statistics Authority (PSA) released on Thursday......»»

Category: newsSource:  bworldonlineRelated NewsDec 7th, 2018

Q3 FDI pledges biggest in nearly 2 years

APPROVED foreign direct investment (FDI) commitments rose to their highest level in nearly two years last quarter even as growth slowed from the preceding three months and a year ago, according to data the Philippine Statistics Authority (PSA) released on Thursday......»»

Category: newsSource:  bworldonlineRelated NewsDec 7th, 2018

Reports bare varying GDP growth views

THE ECONOMY could take a beating this year and in 2019 from the central bank’s recent successive interest rate hikes and continued elevated inflation, according to ING Bank NV Manila, while First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P) see fourth-quarter gross domestic product (GDP) growth matching the January-March pace to clock the fastest clip in three quarters......»»

Category: newsSource:  bworldonlineRelated NewsDec 3rd, 2018

DBP reports 13% growth in third quarter profit

The net income of the Development Bank of the Philippines rose by 13 percent to P4.49 billion in the first nine months from P3.98 billion in the same period last year, driven by increased loan releases and deposits, a top official said yesterday......»»

Category: financeSource:  philstarRelated NewsNov 29th, 2018

Porsche achieves growth in revenue and operating result

Thanks to a strong third quarter, Porsche AG once again increased its operating result, revenue, deliveries and number of employees in the first nine months of 2018. The operating result…READ The post Porsche achieves growth in revenue and operating result appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsNov 26th, 2018