Q4 2018 labor turnover flat from third quarter
LABOR TURNOVER in the country’s large firms steadied in the fourth quarter compared to the previous quarter, according to the Philippine Statistics Authority (PSA).
Fitch affirms Philippine debt grade but slashes growth forecast further
GLOBAL DEBT WATCHER Fitch Ratings, Inc. on Thursday affirmed the Philippines’ long-term foreign-currency issuer default rating at “BBB” — still a notch above minimum investment grade — with a “stable” outlook, meaning the rating is likely to be sustained in up to two years, but further slashed its gross domestic product (GDP) projection for the country.
Philippines, Japan mull peso-yen direct trading
THE PHILIPPINES and Japan are looking at the possibility of setting up a peso-yen direct trading framework in a bid to encourage wider use of both currencies and deepen bilateral ties.
Uncertainty weighs on electronics firms’ plans
THE COUNTRY has lost a “billion dollars” worth of investments for chip plant expansion due to uncertainty from plans to change tax incentives, the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) said on Thursday.
Per capita household spending growth slows
GROWTH of household spending slowed to 3.9% in 2018, with nine out of 17 regions posting slower growth rates and one recording a decline, according to data the Philippine Statistics Authority released on Thursday.
Charting best practices amid tech disruption
BUSINESSES must play catch-up with emerging technologies if they want to remain relevant in this era of artificial intelligence, automation and e-commerce, with top brass’ adoption of latest trends crucial to driving growth.
Duterte pitches ‘corruption-free’ PHL
A DAY after the release of the 2019 World Competitiveness Report showing the Philippines partially recovering from a nine-notch fall on a list of 63 economies but still second to the last in Asia and the Pacific, President Rodrigo R. Duterte assured a gathering of Japanese businessmen in Tokyo of a “corruption-free” business environment in which he would meet “in 24 hours” with anyone who has a complaint about “hindrances, obstruction or outright corruption.”
Back to square one for Public Service Act amendment
IT’S BACK to square one for the bill amending the 82-year-old Public Service Act (PSA) to lift foreign ownership limits in certain sectors as it will fail to secure final approval with two session days left for the 17th Congress to wrap up its business.
Pre-merger information exchange restricted
BUSINESSES moving towards merger or acquisition should not exchange confidential business information until their deal has been approved, the Philippine Competition Commission (PCC) said in an April 11 guidance posted recently on its Web site.
PHL improves edge, but still lags in Asia
THE PHILIPPINES has “partially recovered” in terms of global competitiveness, according to an annual report of the research group of Switzerland-based business school International Institute for Management Development (IMD) that put the country up four notches on improvements across four key factors after a nine-step fall last year.
Expected infrastructure spending pickup next semester to fuel growth
THE PHILIPPINE ECONOMY can expect to benefit from revived infrastructure spending in the latter half of this year after a four-month delay in enactment of the P3.662-trillion national budget weighed on “fiscal impulse” this semester, S&P Global Ratings said in a report e-mailed to journalists on Tuesday that tagged the impact of Sino-US trade tensions and potential price pressures from a prolonged El Niño episode and oil prices as key risks to the country’s growth prospects.
Senate body nearly adopts House mining tax version
THE SENATE Committee on Ways and Means on Tuesday minimized differences with the House of Representatives’ version of a proposal to increase the government’s share in mining revenues in a bid to fast-track final legislative approval.