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Politics, peso keep PSEi red for 7th session

MANILA, Philippines – The local bourse extended its losing streak to the seventh consecutive session on Tuesday. Domestic politics and the weak currency continued to weigh on market sentiment, leading to more investors taking cover amid the uncertainty. By the closing bell, the benchmark Philippine Stock Exchange Index (PSEi) had lost 0.74 percent or 44.14

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Stocks rise, gold hits record as rate cuts and shutdown loom

HONG KONG, China – Equities rallied for a second day and gold hit another record Tuesday on growing Federal Reserve interest rate optimism, though traders were preparing for a possible US government shutdown that could affect the release of key economic data. A string of closely watched indicators has recently supported investor expectations that the

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PNB to bolster core business with exit from Bahrain

MANILA, Philippines — Philippine National Bank’s (PNB) move to let go of its Bahrain operations and dissolve two of its units would allow it to cut costs and focus on expanding its core business, according to an analyst. Ron Acoba, chief investment strategist at Trading Edge Consultancy, told the Inquirer PNB could still serve its

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PSEi dips below 6,000

MANILA, Philippines — Frustration over the worsening flood control mess, and the involvement of more high-ranking government officials, caused the Philippine Stock Exchange Index (PSEi)  to stumble below 6,000 on Monday. The benchmark PSEi slipped to a six-month low of 5,997.6, down by 0.49 percent. The index extended its losing streak to the sixth consecutive