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Millennials as growth engines

Manulife Asset Management and Trust Corporation is banking on the rising number of Filipino middle class and the large number of millennials to boost its newly-formed business. In a briefing Wednesday, Manulife Philippines president and Chief Executive Officer Ryan Charland…

8-month BoP swings into $1.39-B deficit

The country’s overall balance of payments position in August 2017 posted a slight deficit of US$7 million, lower by US$671 million than the previous month’s shortfall of US$678 million. Outflows during the month were largely offset by the NG’s net…

Growth to quicken in H2

The Philippine economy is expected to further accelerate in the second half of the year, buoyed by the rapid spending on infrastructure and the strong domestic demand. “The continued improvement in exports, coupled with higher inflows from OFW (overseas Filipino…

ING eyes $450-M C/A surplus

An economist of ING Bank Manila is optimistic that the Philippines will achieve a current account surplus in 2017 after an improvement was registered in the second quarter this year. Bangko Sentral data showed that the country posted a $15…

Lone trading platform mulled

A high-level committee chaired by the secretary of the Department of Finance has agreed to adopt a government-built online platform for traders as the vehicle for the country’s National Single Window, which aims to facilitate trade, heighten transparency in customs…

JAZA lauds DU30 for ‘bold’ infra, tax strides

The head of one of the Philippines’ leading business empires has lauded the Duterte administration for taking the unusually “bold step” of pushing tax reform and embarking on an ambitious infrastructure program at a time when the economy is in…

NEDA Board okays Metro Manila subway

The National Economic and Development Authority Board approved the Metro Manila Subway Project and four new “flagship” projects during their fifth meeting on Tuesday. This brings the administration’s total number of approved projects to 35 worth P1.2 trillion, excluding the…

Petroleum output dip clips manufacturing

The decrease in the production of petroleum products and chemicals caused a slight reduction in the manufacturing output in July 2017. In the Monthly Integrated Survey of Selected Industries of the Philippine Statistics Authority, a NEDA-attached agency, the manufacturing sector’s…

Job loss worries NEDA

Expressing concern over employment losses recorded in July 2017, the National Economic and Development Authority vowed to improve employment figures by pushing for reforms anchored on the Philippine Development Plan 2017-2022. The recent Labor Force Survey of the Philippine Statistics…

Faster import permit system out soon

The Duterte administration is finalizing a new, faster system for securing import applications that currently involve more than 60 government agencies, as part of fresh measures to cut red tape and improve the ease of doing business in the country,…

Dollar slides as Irma seen as threat to Fed rate hikes

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NEW YORK (AFP) - The dollar continued its slide against the euro and other major currencies Friday, while oil prices fell sharply as the US faced off against another major hurricane. The greenback tumbled to its lowest value against the…

Deeper insurance ‘penetration' seen

An official of an insurance company is optimistic on the continued rise of insurance penetration in the Philippines as industry players vie to open more access points for the masses to avail insurance products. Pioneer Life Inc. President and CEO…

DU30 invited to visit rehabilitated mines

The Chamber of Mines of the Philippines formally invited President Rodrigo Duterte to visit one of the rehabilitated mines in the country in the wake of his recent pronouncements about open-pit mines. "We like to invite the President to come…

Food, transport price spike to blame

Prices of food, transport, water, electricity, and gas pushed up inflation in August 2017. A report from NEDA-attached agency Philippine Statistics Authority states that headline inflation increased to 3.1 percent in August 2017 from 2.8 percent in the previous month.…

Halal exports to grow to $1.4B

The country’s halal export revenues for next year is seen to grow to $1.4 billion from the current $800 million outbound sales, Department of Trade and Industry Assistant Secretary Abdulgani Macatoman told reporters. Macatoman said with the Republic Act No.…
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