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Moody’s affirmation proves sustained growth

Bangko Sentral Governor Amando M. Tetangco Jr. said Moody’s Investors Service’s move to affirm its credit rating on the Philippines only shows the continued improvement in the domestic economy. “The decision of Moody’s speaks well regarding the favorable path that…

SBMA chairman’s ouster sought

Subic Bay Freeport Zone stakeholders are asking President Duterte to replace Subic Bay Metropolitan Authority Chairman Martin Diño over claims of abuse and usurpation of authority. The growing clamor for Diño’s ouster now spilled out of the Freeport Zone with…

Manila Water sets P4.28 B for Boracay rehab

The Manila Water Co., through Boracay Island Water Company, has earmarked some P4.28 billion to meet the growing demand for reliable water system and improved sewage system in Boracay Island, Aklan Province. BIWC is the joint venture company of Manila…

Tax cut to boost buying power to 20%

A lawmaker at the House of Representatives on Sunday said the proposed lowering of personal income tax rates could give a 20-percent boost in the purchasing power of at least nine out of 10 Filipino individual taxpayers. In a statement,…

Budget gap 15% lower in May

Philippine budget gap reached P63.6 billion in May this year, 15 percent lower than the P75.1 billion deficit in the same month last year. Data released by the Bureau of Treasury Friday showed that the government spent more than its…

Plan to charge BoC OT fees vs airlines nixed

Overtime fees of airport officers must be shouldered by the government and not the airlines. This was the statement made by the Philippine Travel Agencies Association which protested the Customs Administrative Order that will place funding for overtime fees of…

BSP 2nd-half rate hike projections vary

Projections for Bangko Sentral rate hikes are now mixed, with some seeing a delay in rate increase in the second half of 2017 given the deceleration of inflation rate. In a study, BMI Research remains optimistic for a 50 basis…

Ayala Corp okays P30-B shelf offer

Ayala Corp.'s board of directors has approved the company’s filing of shelf registration with the Securities and Exchange Commission of up to P30 billion. In a disclosure to the Philippine Stock Exchange Friday, the conglomerate stated that it eyes a…

Vista Land bullish on retail biz

Vista Land & Lifescapes, Inc. is bullish on its retail unit, All Value Holdings Corp., with the expansion of the company’s commercial spaces and available lots within residential developments. Vista Land and All Value Chairman Manuel Villar Jr. has told…

P285-B South Railways project on track

The South line of the North-South Railway Project now costing P285 billion, that will provide a reliable rail system between Bicol and Manila, will finally push through under the Duterte administration after a number of hitches in the past. President…

HSBC puts full-year trade gap at $0.9B

An official of banking giant HSBC forecasts a trade deficit of $0.9 billion for the country in 2017 as imports are seen to surpass exports given the strong domestic demand. In a briefing Tuesday, HSBC Managing Director Cheuk Wan Fan,…

ING to expand local ‘shared services’ biz

The Dutch financial institution, ING Bank, is bullish in the Philippines as it seeks to further expand its shared services business in the country, ING Business Shared Services country manager, Cees Ovelgonne, said in a briefing Tuesday. The shared services…

Boeing, Airbus take dogfight to Paris Air Show

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PARIS (AFP) - The aircraft industry descends on Paris Monday for the world's biggest air show, a prime battleground for bitter rivals Boeing and Airbus, but also a chance for new kids on the block to snap at the heels…

‘Hard deadline’ for bank EMV migration sets

Philippine banks are given until June 30, 2018 to fully conform with the requirements to make all their issued automated teller machine cards EMV (Europay, MasterCard and Visa)-compliant. In a statement Thursday, the Bangko Sentral said its policy-making Monetary Board…

Infra building for sustainable growth

Rolling out the infrastructure projects will be the key driver for the Philippines to achieve a sustainable 7.0-percent gross domestic product growth, AC Energy Holdings President and CEO John Eric Francia said. At the panel discussion during the Oxford Business…
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