Consumer spending fell 2.7% in 2Q versus prior quarter Slower growth puts central bank’s tightening pace in spotlight The Philippines’ economic expansion was slower-than-expected in the second quarter as the fastest inflation in almost four years hurt consumption, which is a key growth driver. Gross domestic product grew 7.4% in the three months through J...
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For the first time since the March 2020 lockdowns, property giant SM Prime Holdings resumed charging full rental fees across its local shopping mall chain in the second quarter, clearing the road toward earnings recovery after paying the hefty price of moratorium and discounts that kept tenants afloat. With the relaxation of quarantine protocols now bringing back the usual crowd to sh...
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The documentation of the purchase and sale of real property could be surprisingly daunting for first-timers who are presented with numerous agreements or contracts to read, comprehend and sign. Understanding why they are needed and what these documents state—whether as buyers or sellers—are essential for a smooth transaction. Recognizing their differences will not only ensure a s...
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THE Philippine economy is forecast to grow faster than initially expected in 2022, following the relaxation of Covid-19 mobility restrictions in the country, the expansion of the vaccination program, and a rebound in investment and household consumption, according to a report released Thursday by the Asian Development Bank (ADB). The Asian Development Outlook (ADO) 2022 Supplement says the Phil...
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We can only dream about solving our housing crisis the way Singapore did. Already very much a First World Country in the 2020s, Singapore’s public housing is located in new towns, in communities that are intended to be self-contained, with services near housing blocks and with housing either owned by or rented to residents. Owner-occupied public housing is sold on a 99-year lease and can be...
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Housing developers are batting for an increase in the ceiling of economic and socialized housing to keep up with rising cost of land acquisition and project development, according to Marcelino Mendoza, chairman of the Organization of Socialized Housing Developers of the Philippines (OSHDP). Mendoza in an interview said the National Housing Task Force is deliberating initially on the threshold o...
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