Villar breaks into Sy-led 10 richest Filipinos list
HENRY SY, Sr. remains the country’s wealthiest man for the 11th straight year in Forbes Asia’s “Philippines’ 50 Richest” list, which reflected the economy’s overall volatility as many registered shifts in wealth from 2017.
Approved FDI pledges surge in 2nd quarter
COMMITTED foreign direct investments (FDI) in the second quarter made the biggest improvement in nearly three years, according to data the Philippine Statistics Authority (PSA) released on Thursday.
PHL implements fresh nickel mining curbs
THE PHILIPPINES, one of the world’s top suppliers of nickel ore, will this week start limiting the land that miners can develop at any one time as new rules to protect the environment take effect.
August inflation fastest in nearly a decade
HEADLINE INFLATION in August caught state economic managers and financial markets by surprise, shooting up to its fastest clip in almost a decade, according to official data the Philippine Statistics Authority (PSA) released on Wednesday.
More jobs generated as Q3 starts, but quality erodes
LATEST labor data in July bared a mixed picture as unemployment eased, but those wanting more work increased.
July sees sustained double-digit growth pace for manufacturing — state data
THE COUNTRY’s manufacturing activity sustained its double-digit growth pace for the seventh straight month in July, the government reported on Wednesday.
State infrastructure spending, other capital outlays maintain growth
STATE SPENDING on infrastructure and other capital outlays surged in July on roadworks and flood control projects, along with the purchase of heavy capital equipment for the military and the coast guard, the Department of Budget and Management (DBM) said on Wednesday.
PHL to import extra 250,000 tons of rice in open tender — NFA
THE PHILIPPINES will import an additional 250,000 tons of rice via an open tender, the state grains procurement agency said on Wednesday, as the government rushes to boost domestic supply and curb rising retail prices of the staple grain.
Tax reforms gain ground in House
TWO TAX REFORMS — one that cuts the corporate income tax rate and removes redundant fiscal incentives, and another that provides for a general amnesty — were approved at different levels in the House of Representatives on Tuesday.
Customs exceeds collection goal anew due to weaker peso
THE BUREAU of Customs topped its collection target in August due to a weak peso, high oil market prices and enforcement of proper valuation, marking the seventh straight month that goals were exceeded.
Fitch cites economy’s strength amid risks
CREDIT RATER Fitch Ratings said that the Philippines maintains a generally “favorable growth outlook” even as overheating risks have begun to show.
Business picks up for factories in August
MANUFACTURING ACTIVITY in the Philippines saw “a modest improvement” in August as new business inflows and optimism picked up and more jobs were generated, even as production growth slowed and input costs and prices rose “at marked rates,” according to a survey conducted by IHS Markit for Nikkei, Inc..