THE PHILIPPINES and much of Asia Pacific can be expected to see some recovery in merchandise exports next year, according to a United Nations (UN) report that nevertheless warned that structural changes to major economies like China could mean the current trade slowdown is not a glitch and could persist. Read the full story.

THE GOVERNMENT’s budget balance remained in deficit in October but plunged from a year ago due to a drop in spending and a recovery in revenue collections, according to preliminary Treasury data that also showed that monthly and year-to-date programs were missed. Read the full story.