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June auto sales up 14%

The country’s automotive vehicle sales for June 2017 increased by 14.1 percent year-on-year, the joint report of the Chamber of Automotive Manufacturers of the Philippines, Inc. and Truck Manufacturers Association stated Thursday. Auto sales for June 2017 reached 37,631 units…

BPO perks stay under tax-reform proposal

Tax incentives currently enjoyed by business process outsourcing companies will stay even in the proposed comprehensive tax reform program of the government. This was the assurance made by the Department of Finance in a recent hearing on the proposed tax…

San Miguel buys Australian bottling firm

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Top Philippine conglomerate San Miguel, best known for its beer brewing business, said on Thursday it had acquired an Australian wine bottling firm as part of its regional expansion. Packaging unit San Miguel Yamamura Packaging International bought Australia's Barossa Bottling…

Tokyo stocks end flat as strong yen pares Fed rally

Tokyo stocks ended flat Thursday as a strong yen pared early gains that have driven Federal Reserve boss Janet Yellen's suggestion that US interest rates could rise gradually. Japanese traders tracked a Wall Street record in the first few hours…

New FINL released by mid-August

Duterte administration’s economic team plans to release the new list of investment activities reserved for Filipinos by middle of next month as the government reviews the foreign investment negative list. In a chance interview with Department of Finance Secretary Carlos…

Phoenix Petroleum’s CSR programs cited

President Rodrigo Duterte recently expressed his gratitude to Phoenix Petroleum Philippines, Inc. for its corporate social responsibility programs. In his speech at the 10th listing anniversary of the company held at the PSE Plaza in Makati City, the President noted…

Gov’t spending, infra outlays surge

The National government spent P261.7 billion in first five months this year, up 20.4 percent from expenditures in the same period last year. This shows that policy reforms for more efficient project implementation have started to gain traction. The encouraging…

Solid jobs report lifts US stocks, dollar

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NEW YORK (AFP) - Wall Street stocks rallied and the dollar advanced Friday following a better-than-expected US jobs report for June, while equities elsewhere were mixed as a tense G20 summit got underway. The US economy added 222,000 jobs last…

JCR keeps Ph investment-grade rating

Sustained strong expansion of the Philippine economy prompted Japan Credit Rating Agency. Ltd to maintain its BBB+ rating, with stable outlook, on the country. JCR’s current rating on the country was first given in July 2015 after the debt rater…

Tokyo stocks down by break, N. Korea in focus

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TOKYO -- Tokyo stocks fell Wednesday morning, slipping below the key 20,000 level as global security concerns spiked after North Korea said it had successfully tested its first rocket capable of striking the United States. Washington confirmed Tuesday that Pyongyang's…

Revision of AMLA, bank secrecy law sought

The Bangko Sentral has a new governor in the person of Nestor Espenilla, Jr. During Monday’s turn over ceremony, Espenilla said he wants to strengthen the Anti-Money Laundering Act to prevent funding for terrorism. As the new leader of the…

Sell-off in technology firms sends Asia markets into reverse

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HONG KONG -- Asian markets reversed early gains Tuesday to sit mostly down in the afternoon as a sell-off in technology shares overshadowed a record close on Wall Street and a rally in energy firms. After surging on years of…

Samsung to invest $18B in memory chip business

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SEOUL -- Samsung Electronics will invest nearly $18 billion in its chip business, the South Korean firm said Tuesday, as it seeks to expand its lead in the global memory chip and smartphone markets. The world's top maker of smartphones…

No deep peso dive––BMI

BMI Research adjusted its end-2017 forecast for the Philippine peso against the US dollar from 50 to a greenback to 50.50 but stressed that it remains positive on the local currency “in total return terms.” In a research note, one…

Ph leads ASEAN mfg. index in June

The Philippines has recorded the highest manufacturing Purchasing Managers’ Index among seven ASEAN countries for the month of June, according to IHS Markit’s Nikkei Manufacturing PMI Report released Monday. The Philippines’ manufacturing PMI for June this year posted 53.9, but…
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