New Destinations for Philippine Workers Are Russia, China

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Source: Philippine Overseas Employment Administration Note: Latest available data as of 2016 With exports faltering and stocks suffering outflows, officials are banking on remittances to help stabilize the peso, Asia’s worst-performing currency this year. The peso has lost more than 4 percent against the dollar in 2018. The Middle East remains the largest destination for […]

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As Bitcoin Sinks, Crypto Bros Party Hard on a Blockchain Cruise

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When 600 cryptocurrency enthusiasts set sail from Singapore on Monday night for their second annual Blockchain Cruise, the price of Bitcoin was hovering comfortably above $13,500. By the time their 1,020-foot-long ship pulled into Thailand on Wednesday, for an afternoon of bottomless drinks and crypto-focused talks on a sun-soaked private beach, Bitcoin had cratered to […]

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Bitcoin Lost Almost 20% of Its Value This Week

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Bitcoin faced one of its biggest tests this week, losing almost 20 percent of its value after the world’s largest cryptocurrency reached a record high Monday. The digital currency plunged as much as 30 percent on Friday, before paring losses, as this week’s selloff extended to a fourth day. The weekly decline is the biggest in […]

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The Criminal Underworld Is Dropping Bitcoin for Another Currency

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Bitcoin is losing its luster with some of its earliest and most avid fans — criminals — giving rise to a new breed of virtual currency. Privacy coins such as monero, designed to avoid tracking, have climbed faster over the past two months as law enforcers adopt software tools to monitor people using bitcoin. A […]

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Philippine GDP Growth Exceeds 6% for a Ninth Consecutive Quarter

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The Philippine economy grew more than 6 percent for a ninth consecutive quarter, cementing its position as one of the fastest-expanding in the world. Key Points Gross domestic product increased 6.9 percent in the third quarter from a year earlier, the Philippine Statistics Authority said in Manila Thursday, after expanding a revised 6.7 percent in […]

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Austrians Lean Toward Nationalist Government Led by a Millennial

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Austrians profiting from the fastest economic growth in six years look likely to ditch their current coalition in favor of a new government backed by anti-immigration nationalists and headed by the world’s youngest leader. Polls suggest that Austria’s 31-year-old Foreign Minister Sebastian Kurz will lead his conservative People’s Party to victory in Sunday’s election. That […]

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