Business and Economy

PH GDP grows by 6.5%

Socioeconomic Planning Secretary Ernesto Pernia said in a statement, the Philippines is one of the fastest growing major economies in Asia, on Thursday. The country’s Gross Domestic Product (GDP) or the total monetary value of all goods and services produced over a specific time period, one of the indicators of how ‘in-shape’ the country’s economy …

Fil-Chinese capitalists eyeing investments in Palawan

PUERTO PRINCESA CITY, Palawan— A group of Filipino-Chinese businessmen is looking at the possibility of venturing in fish port and water system development projects in this city, and tourism investments in the northern town of San Vicente because of their competitive advantages compared to other areas in the country. Federation of Filipino Chinese Chamber of …

28-day TDF’s weighted average yield up Wednesday

  MANILA — Weighted average accepted yield of the 28-day term deposit facility (TDF) of the Bangko Sentral ng Pilipinas (BSP) rose Wednesday, unlike that of the seven-day facility. Data released by the central bank show that weighted average accepted yield of the longer-tenor facility went up to 3.4958 percent from 3.4936 percent in the …

PH economy remains strong but CA deficit might continue

MANILA — Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. expects the deficit on the country’s current account to continue as the domestic economy posts robust growth. During the Senate hearing for the proposed 2018 national budget on Wednesday, the central bank chief said higher importation of capital goods and raw materials were …

Sunvar to obey court order to vacate Mile Long property

MANILA – Real estate firm Sunvar Realty Development Corporation, owned by the Rufino and Prieto families, will comply with the Makati City Regional Trial Court (RTC) order to vacate the 2.9-hectare Mile Long property in the city. Sunvar legal representative Atty. Alma Mallonga, however, said that they will appeal the court’s decision. “While Sunvar has appealed the …

PSEi rises anew, peso almost flat vs. USD

MANILA — Philippines main stocks gauge rose for the third consecutive day Wednesday while the peso finished the day almost flat against the greenback. The Philippine Stocks Exchange index (PSEi) went up 0.46 percent, or 37.18 points, to 8,046.59 points, which a trader partly traced to waning fears on the conflict between the US and …

Filipinos becoming e-payment savvy: survey

  MANILA — Filipinos are becoming tech-savvy in their payment attitudes, an official of a global payments technology said, as he sees strong opportunities for banks to make leaps in terms of delivery of payment-related products. Results of the 2016 Visa Consumer Payment Attitudes Survey showed a big improvement on Filipinos’ appreciation of the electronic …

QC remains PH’s most competitive city

MANILA — Quezon City was named for two straight years as the country’s most competitive highly urbanized city in the Cities and Municipalities Competitiveness Index (CMCI) 2017. National Competitiveness Council (NCC) Philippines’ CMCI ranks competitiveness of cities and municipalities in terms of economic dynamism, government efficiency, infrastructure, and resiliency. Quezon City also topped other highly …

BSP chief cites peso’s resiliency

MANILA —The Philippine peso is again testing its 11-year low to a US dollar but continues to remain firm given the country’s strong macroeconomic fundamentals, Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla said. On Wednesday, the local  currency finished the day at 51.35, almost unchanged against its previous day’s 51.34 finish but almost …

Johns Hopkins prof: Infrastructure to attract more foreign investments

MANILA — The Philippines needs to build structures to attract more foreign investments particularly from China, in potential sectors of energy, resources and small businesses. Alvin Camba, a professor at Baltimore-based Johns Hopkins University, underscored the country’s need to build infrastructures “quickly” given the traffic problem especially in Metro Manila. “A lot of economists actually …

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