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Business Nightly - Nov 24, 2017

Business Nightly - Nov 24, 2017

The PSEi avoids a second straight weekly decline with a last minute recovery. EastWest Bank sees a dim outlook on the banking industry's trading gains due to the BSP's expected raising of interest rates in 2018. Google Philippines highlights the importance of online presence for local businesses. Satoshi Citadel Industries co-founder and chief community officer Miguel Antonio Cuneta expresses confidence in the rise of cryptocurrency.

Date
Nov 24, 2017
About The Show
Business Nightly is the ABS-CBN News Channel's main business news platform. Anchored by ANC's Business News Head Coco Alcuaz, it carries stories on the economy, the stock market, the top companies in the Philippines, personal finance and global business. It also carries interviews with the movers and shakers of the Philippine business community. Business Nightly airs weeknights, from 9:00pm to 9:30pm.
Genre
News, Current Affairs
Views
354

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Business Nightly - Nov 24, 2017

The PSEi avoids a second straight weekly decline with a last minute recovery. EastWest Bank sees a dim outlook on the banking industry's trading gains due to the BSP's expected raising of interest rates in 2018. Google Philippines highlights the importance of online presence for local businesses. Satoshi Citadel Industries co-founder and chief community officer Miguel Antonio Cuneta expresses confidence in the rise of cryptocurrency.

Business Nightly - Nov 23, 2017

Global investor sentiment takes a hit following a sharp drop in Chinese shares, while volumes also dry up as U.S. investors celebrate Thanksgiving. Philippine shares outperform its Asian peers as local traders belatedly cheer positive developments on tax reform. Uber Philippines vows to be transparent if its local operations are affected by the cybersecurity breach. BSP data show that hot money in the Philippines swings to a net outflow in October due to profit-taking. PT&T confirms that it is in talks with eight Chinese investors for a possible telecom partnership.

Business Nightly - Nov 22, 2017

The U.S. dollar and Treasury fall after outgoing U.S. Federal Reserve chair Janet Yellen warned against rapid interest rate hikes. The Senate approves the expansion of the personal income tax exemption coverage, which will benefit MSMEs. DBM Sec. Benjamin Diokno sees stronger government spending in the final two months of the year. Philex Mining stocks plunge to a 23-month low following Pres. Rodrigo Duterte's decision to keep the ban on open pit mining in place.

Business Nightly - Nov 21, 2017

Wall Street is set to open in green territory on Tuesday as investors digest a strong batch of corporate earnings. Maybank regional economist Suhaimi Ilias says no major shifts are expected as Jerome Powell succeeds Janet Yellen as the new U.S. Federal Reserve chief. Government regulators and the Bureau of Treasury (BTr) are set to launch a series of reforms to allow the BSP to hold off on future rate hikes. Pres. Rodrigo Duterte expresses his support for embattled DOTr chief Arthur Tugade as the MRT-3 row escalates. The SSS' nine-month profit falls to nearly 57 percent due to the implementation of the pension hike.

Business Nightly - Nov 20, 2017

European stocks rebound as the Euro shrugs off the German impasse. Pres. Rodrigo Duterte invites China to become the third telco player in the Philippines. E-commerce giant Alibaba invests $2.9 billion in brick and mortar operations as it competes with Walmart in China. DOTr Sec. Arthur Tugade rejects calls for his resignation.

Business Nightly - Nov 17, 2017

The U.S. dollar extends declines as the probe into the alleged Russian meddling in the U.S. elections deepens. U.S. stock index futures signal a mixed open. The IMF backs the BSP's view of a gradual lowering of the reserve requirement ratio (RRR). The Philippines and Singapore sign an alliance pact to promote innovation in financial services. Apple reveals the price of iPhone X in the Philippines ahead of its December 1 release.

Business Nightly - Nov 16, 2017

The Philippine economic growth smashes all expectations as the third quarter GDP comes in at 6.9 percent, keeping a pace as one of the fastest growing in the world. The BSP brushes off overheating concerns as the economic growth picks its speed. The Duterte administration is set to embark on its third retail bond sale next week as it is looking to sustain the growth momentum. The strong third quarter GDP fails to impress the stock market. DBM Sec. Benjamin Diokno says the Duterte administration is close to hitting its spending targets and continued the projects of the previous administration.

Business Nightly - Nov 15, 2017

The U.S. Treasury yield curve flattens further as investors react to subdued inflation data. The PSEi joins the regional slump ahead of the release of Q3 GDP figures on Thursday. Chinese Premier Li Keqiang extends his stay in the Philippines for an official visit following the 31st ASEAN Summit. The DFA signs an underwriting agreement with the Bank of China for the issuance of yuan-denominated bonds. OFW remittances shrink to a five-month low in September amid the repatriation of undocumented Filipino workers in Saudi Arabia.

Business Nightly - Nov 14, 2017

The ASEAN Business and Investment Summit pushes to promote MSMEs through the largest mentorship program in the region. The PSEi snaps a two-day losing streak boosted by Meralco and JG Summit shares. National Bookstore drops the backdoor listing plans of its retail assets. Singapore assumes the chairmanship of ASEAN 2018. Pres. Rodrigo Duterte calls Canadian Prime Minister Justin Trudeau's dispute over the state of human rights in the country as a personal and official insult.

Business Nightly - Nov 13, 2017

The Philippine government's infrastructure push dominates talks at the ASEAN Business and Investment Summit. ASEAN business leaders tackle financial inclusion and support for MSMEs during the ASEAN Business and Investment Summit. Developments in the Philippines' maritime dispute with China causes a surge in oil exploration stocks. U.S. markets are poised for a lower open as investors digest quarterly earnings reports and tax reform policies.
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