New breed of Fil-Chinese businessmen sail out of the capital
YOUNG FILIPINO-Chinese entrepreneurs and professionals are exploring growing opportunities outside the Philippine capital, prodded by the administration’s infrastructure and inclusive development agenda, and their curiosity piqued by the recent rise of political and business leaders from Mindanao.
BSP sees June inflation between 4.3-5.1%
INFLATION remained elevated in June given higher prices of rice and crops as well as cooking gas, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.
DM Wenceslao slumps in market debut
PROPERTY developer and construction firm D.M. Wenceslao & Associates, Inc. raised P8.15 billion in the country’s first initial public offering (IPO) this year, but its shares closed below its offering price on its first day of trading.
New draft rules propose auction of frequencies for 3rd telco player
THE Department of Information and Communications Technology (DICT) released on Friday another set of draft guidelines for the selection of the third major player in the telecommunications industry, this time proposing an auction of the frequency spectrums.
‘Better-than-expected’ tax gains cited
“IMPRESSIVE” gains from tax reform bode well for the Philippines’ credit rating, Moody’s Investors Service said, even as local political noise and tighter global financial conditions pose risks for the economy.
Gov’t plans to raise up to P300B in Q3 debt
THE BUREAU of the Treasury said on Thursday it plans to raise as much as P270 billion from the sale of Treasury bills and bonds next quarter, 17% less than it had programmed for the current quarter.
Moody’s sees little risk of problem loans despite rising rates
THERE SHOULD BE little risk of problem loans even as interest rates rise further, a global credit rater said, noting that policy adjustments can be expected to temper credit growth.
NEDA bullish on project completion
THE GOVERNMENT now expects to complete nearly half of its 75 flagship infrastructure projects by the time President Rodrigo R. Duterte ends his six-year term due to efforts to address bottlenecks in approval, funding and implementation, the National Economic and Development Authority (NEDA) said in a briefing on Wednesday.
May sees infra, other capital outlays rise
INFRASTRUCTURE and other capital outlays continued to surge in May, the Department of Budget and Management (DBM) said on Wednesday, backing projections that gross domestic product (GDP) growth caught up with the official target this quarter.
Miners call for end of ban on big new ventures
MINERS in the country are urging the government to lift a six-year ban on new large-scale mining projects in the world’s no. 2 nickel ore supplier after the state removed restrictions on fresh smaller ventures.
Banks told to guard vs dummy accounts
THE ANTI-MONEY Laundering Council (AMLC) has warned banks and other financial companies to tighten their watch against dummy accounts, used by drug dealers to hide illicit funds.
Consultancy says political risk a blot on PHL outlook
BIGGER tax collections and a local infrastructure boom can be expected to help sustain Philippine economic growth, Capital Economics said in a report on Tuesday, even as it warned that persistent political uncertainties could dampen investor appetite.