PHOENIX Petroleum Philippines, Inc. on Tuesday said it had signed a memorandum of understanding (MoU) with a unit of China National Offshore Oil Corp. (CNOOC) to develop a receiving terminal for imported liquefied natural gas (LNG) in the country.

BLOOMBERRY Resorts Corp. looks to start construction on its casino project in Quezon City by 2019, as it targets the mass market in the north.

THE CENTRAL BANK will stick to its June 30 deadline for all banks to shift to microchip-based cards and terminals to elevate security standards.

EDUCATION technology platform Edukasyon has received funding which will help the start-up in its expansion in Visayas and Mindanao.

THE LAND BANK of the Philippines (LANDBANK) expects to ink the share purchase agreement (SPA) with the Philippine Stock Exchange (PSE) for the sale of its stake in the country’s fixed income-bourse this week.

PHILIPPINE SAVINGS Bank (PSBank) said it will raise funds through long-term negotiable certificates of time deposit (LTNCD) to expand its consumer banking segment.

THE SOUTH KOREAN government has doubled to $1 billion its official development assistance (ODA) to the Philippines for government projects, including the construction of new Cebu International Container Port, Dumaguete Airport, and project preparation facility of the National Irrigation Administration (NIA), the Department of Finance (DoF) said on Tuesday, June 5.

HAMBURG -- The Philippines’ National Food Authority (NFA) on Tuesday made final awards to five trading houses in its purchase of 250,000 tons of rice in an international tender issued on May 22, European traders said.

LAWMAKERS on Tuesday urged the government to fast-track implementation of social mitigation measures in the light of the Tax Reform for Acceleration and Inclusion (TRAIN) Law and rising inflation.

THE PHILIPPINES stayed second in terms of manufacturing performance in the Association of Southeast Asian Nations (ASEAN) in May, despite logging its best Purchasing Managers’ Index (PMI) reading so far for the year.

THE Bangko Sentral ng Pilipinas (BSP) will closely monitor liquidity buffers held by big banks starting July, ahead of adopting tighter rules which ensure that lenders can stay afloat for at least a year.

LONDON -- For many US allies, Secretary of Defense James Mattis is the last of the Trump administration’s so-called grown-ups in the room.