FDI pledges drop 37.9% in first quarter
APPROVED foreign investment pledges fell to their lowest level in nearly eight years last quarter in the face of external developments and uncertainties due to planned changes to the corporate income tax and incentives schemes.
FX reserves dip to three-year low
THE COUNTRY’s foreign exchange reserves dipped in May to a fresh three-year low amid lower gold valuations and as the central bank defended the peso.
Meralco bills to go down for a second month in June
MANILA Electric Co. (Meralco) has announced on Thursday a P0.1252 per kilowatt-hour (/kWh) reduction in the overall electricity rate for a typical household in June, marking the second straight month of decline.
Del Monte Philippines defers IPO
DEL MONTE Philippines, Inc. (DMPI) has delayed what would have been the country’s first initial public offering this year, citing the current volatility in the local stock market.
New MCIA terminal to service int’l flights starting on July 1
LAPU-LAPU CITY, MACTAN — President Rodrigo R. Duterte on Thursday led the inauguration of the second terminal of the Mactan Cebu International Airport (MCIA), which is expected to ease congestion at the Philippines’ second busiest gateway.
MICT operations get a boost with new cranes
THE Manila International Container Terminal (MICT) on Thursday received new port handling equipment, which expands its capacity by allowing it to accommodate the world’s biggest container ships.
Out-of-school population declines in 2017, PSA says
THE population of persons of school-going age who were not in school dropped to 3.6 million in 2017 from 3.8 million a year earlier, the Philippine Statistics Authority (PSA) said.
ILO sees progress in tackling contractualization issues
THE International Labor Organization (ILO) said the Philippines is moving forward both in terms of its compliance with international labor laws and resolving the issue of contractualization.
Local banks well-positioned to meet new liquidity requirement
BIG BANKS are well-positioned to meet new liquidity rules from the central bank, but will have to boost deposit taking and long-term loans to beef up funding, Moody’s Investors Service said.
EastWest Bank raises P2.45B via LTNCDs
EAST WEST Banking Corp. (EastWest Bank) has raised P2.45 billion from the first tranche of its long-term negotiable certificates of deposit (LTNCD) program, which will support its funding needs.
Tourism share of GDP hits 18-year high in 2017
THE TOURISM industry’s contribution to the economy was the highest in 18 years in 2017, the Philippine Statistics Authority (PSA) said.
Q1 building permit approvals up
THE NUMBER of approved building permits continued to grow in the first quarter albeit at a slower rate compared to a year earlier as well as a quarter earlier, the government reported yesterday.