BEIJING: China's economic growth slowed to 6.2 per cent in the second quarter, its weakest pace in at least 27 years, as demand at home and abroad faltered in the face of mounting US trade pressure.While more upbeat June factory output and retail sales offered signs of improvement, some analysts cautioned the gains may not be sustainable, and expect Beijing will continue to roll out more support measures in coming months.China's trading partners and financial markets are closely watching the health of the world's second-largest economy as the Sino-US trade war gets longer and costlier, fuelling worries of a global recession.Monday's growth data marked a loss of momentum for the economy from the first quarter's 6.4 per cent, amid expectations that Beijing needs to do more to boost consumption and investment and restore business confidence.The April-June pace was in line with analysts' expectations for the slowest since the first quarter of 1992, the earliest … [Read more...] about China Q2 GDP growth slows to 27-year low, more stimulus expected
Debt free in 3 years
The mid-term election results appear to be what many of us feared. The country can do a lot better than re-elect characters tainted with plunder and/or have done nothing in previous terms. Google Analytics may have noticed a significant surge from the Philippines in its search engine on “How to Migrate”. But the election results should make us more active in the public arena to make sure what happens next isn’t a disaster many of us fear. The first three years of Duterte passed by quickly. Those were pretty contentious years. Challenges from an external environment also undergoing drastic changes have affected how we frame our geopolitical and economic strategies. The economic and political rivalry of China and the US will certainly affect our country. The Duterte administration has chosen to side with China even as the Filipino people still overwhelmingly trusts the US more. In fact, this national distrust of China almost became a lethal issue in the mid-term … [Read more...] about The next three years
(The Philippine Star) - May 6, 2019 - 12:00am Forgive as the Lord forgave you. — Colossians 3:13 I arrived early at my church to help set up for an event. A woman stood crying at the opposite end of the sanctuary. She’d been cruel and gossiped about me in the past, so I quickly drowned out her sobs with a vacuum cleaner. Why should I care about someone who didn’t like me? When the Holy Spirit reminded me how much God had forgiven me, I crossed the room. The woman shared that her baby had been in the hospital for months. We cried, embraced, and prayed for her daughter. After working through our differences, we’re now good friends. In Matthew 18, Jesus compares the kingdom of heaven to a king who decided to settle his accounts. A servant who owed a staggering amount of money pleaded for mercy. Soon after the king canceled his debt, that servant tracked down and condemned a man who owed him far less than what he’d owed the king. … [Read more...] about Should I forgive?
LONDON/ATHENS: As Greece readies for its next foray into international bond markets, it will be hoping to draw more big-name, mainstream asset managers rather than the hedge funds who have been its main clients in recent years.Since coming off life-support in 2018, Greece has been trying to leave a nine-year debt crisis behind. It applied earlier this month to repay early 3.7 billion euros of high-interest debt it owes the International Monetary Fund, replacing it with cheaper market-based borrowing.It sold two new bonds in January and March and plans to return to the market by June.But to maintain market access, Greece will need long-horizon investors such as BlackRock and Amundi. And a major barrier looms here - a credit rating that's deep in junk territory means Greek debt is excluded from major indexes that global asset-management firms use as benchmarks.There are signs, though, that recent ratings upgrades and an improving economy are starting to put Greek bonds back on the radar … [Read more...] about Pariah no more? Greece needs big bond investors to seal its comeback
MANILA -- Whether you clock in 8 hours, or 10, 12, 14, even gasp, 16 hours every day, you deserve a break on May 1. And since most Filipinos have the day off as Labor Day is a national holiday, why not take the time to do 5 simple things to check on your financial health. Yes, this may sound like a damper on your holiday plans, but there is real urgency behind this. The unemployment rate is inching up and latest data shows its at 5.2 percent as of January 2019. Meanwhile, the population continues to rise and is targeted to go from the 104.92 million recorded in December 2017 to 120 million in 5 years or by 2024. The peso is still weak next to the US dollar, but inflation has finally fallen within government targets of no more than 4 percent range. However, if your money sits in a savings account and the bank pays you a 0.02 percent interest, you don’t need to be a Math genius to know you are losing out. And then there’s the public sentiment that it’s getting harder to … [Read more...] about News This Labor Day, Make Your Money Work Harder For You