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High coal tax risking manufacturing growth goal

MANILA — Department of Trade and Industry (DTI) Secretary Ramon Lopez said it would be more challenging for the local manufacturing sector to achieve more than 10 percent growth target in the next few years as higher excise tax on coal looms. Lopez told reporters that if the Senate’s version of the Tax Reform for …

Real estate market ‘rosier’ in 2018

MANILA — A real estate service provider sees a rosier property market in Metro Manila by 2018, saying outlook on office, retail, residential, and industrial sectors remains high as these continue to expand. Santos Knight Frank Chairman and Chief Executive Officer Rick Santos said outlook on Metro Manila’s real estate market is more optimistic next …

PH joins APEC network of privacy enforcement authorities

MANILA— The Philippines has joined the Asia Pacific Economic Cooperation (APEC) Cross-Border Privacy Enforcement Arrangement (CPEA), becoming the eleventh Privacy Enforcement Authority (PEA) of the network. Through the National Privacy Commission (NPC), the Philippines joined other APEC economies in the network such as Australia, Canada, Hong Kong, Japan, Mexico, New Zealand, South Korea, and the …

Lopez to cut trade deficit during Duterte admin

MANILA— Department of Trade and Industry (DTI) Secretary Ramon Lopez said the government aims to further lower the country’s trade deficit during the Duterte administration, and to make balance of trade favorable to the country in the coming years. On the sidelines of the National Export Congress Tuesday, Lopez told reporters that he wishes to …

Construction projects up 1.1% in Q3 2017

MANILA – Approved building permits from July to September 2017 increased by 1.1 percent to 36,076 from 35,684 in the same period in 2016, data released by the Philippine Statistics Authority (PSA) on Tuesday showed. Although the number of construction projects increased, its value fell by 6.5 percent to PHP72 billion in the past quarter …

Tax perks to counter headwinds in IT-BPO sector: industry group

MANILA— The Information Technology-Business Process Association of the Philippines (IBPAP) bats for the retention of incentives for the IT-business process management (IT-BPM) sector to counter headwinds faced by the industry. In a statement, IBPAP president and chief executive officer Rey Untal expressed the group’s support to lawmakers who push to keep incentives for the IT-BPO …

PH posts highest PMI in Nov ’17

MANILA — The Nikkei Manufacturing PMI (Purchasing Managers’ Index) jumped to 54.8 in November from 53.7 in the previous month, its highest reading for this year, according to IHS Markit’s Philippines In its survey released Friday, the increase in PMI last month was due to solid expansions in new orders, rising the most in a …

PEZA registers P203-B investments in Jan-Oct ’17

MANILA — The Philippine Economic Zone Authority (PEZA) has registered PHP203.2 billion investments in January to October 2017, up 89.3 percent from PHP107.3 billion in the same period in 2016. PEZA Director General Charito Plaza said the number of projects, job generation, and export revenues in economic zones for the period also increased. Projects approved …

PEZA mulls perks for local SMEs in manufacturing

MANILA — The Philippine Economic Zone Authority (PEZA) is crafting a new policy to boost local small and medium enterprises (SMEs) in the manufacturing sector, its top official told the Philippine News Agency (PNA). “We are now creating new policy. This is for domestic manufacturing enterprises, the small and medium enterprises,” PEZA Director General Charito Plaza …

PEZA registers P203-B investments in Jan-Oct ’17

MANILA — The Philippine Economic Zone Authority (PEZA) has registered PHP203.2 billion investments in January to October 2017, up 89.3 percent from PHP107.3 billion in the same period in 2016. PEZA Director General Charito Plaza said the number of projects, job generation, and export revenues in economic zones for the period also increased. Projects approved by …

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