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July, 27, 2016

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Business > Asia > Philippines
Economic concerns top the Filipinos' list of issues that should be dealt with immediately by the administration of President Rodrigo Duterte, who won the May 9 elections on a campaign anchored on fighting crime, drugs and corruption.
 
Philippine presidential favorite Rodrigo Duterte has flippantly brushed aside campaign trail allegations of accepting million-U.S.-dollar gifts, while his rivals have refused to disclose their backers, deepening concerns over business titans' shadowy grip on politics.
 
The Philippines is starting to feel the first ripples of the oil price shock.
 
The Philippine economy grew 5.8 percent in 2015, short of even lowered government expectations.
 
Farmers lose debt gamble in Philippines
Philippine rice farmer Francisco Santo Domingo's life is in ruins after losing yet another gamble with nature, but the typhoon that destroyed his crops means gleeful loan sharks have again hit the jackpot.
 
The Philippine Department of Agriculture (DA) has issued yet another temporary ban on the import of birds and their products, this time from Germany, as it continues to shore up measures to protect the Philippines' bird flu-free status.
 
Philippine economic growth quickened in the second quarter, the government said Thursday, placing the country in a better position to weather the global fallout from China's economic woes.
 
Philippine inflation slowed to a record low of 0.8 percent year-on-year in July on lower electricity, petrol and transportation costs, the government said on Wednesday.
 
Even as the Philippines did not sign on Monday the articles of agreement for the establishment of the China-led Asian Infrastructure Investment Bank (AIIB), Finance Secretary Cesar V. Purisima said on Monday that the country "remains a prospective founding member."
 
Philippine economic growth in the first quarter slowed to a three-year low of 5.2 percent, well below forecasts, due to lethargic government spending and weak exports, officials said Thursday.
 
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