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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…

Electronics industry aims for $30-B goal

The country’s electronics industry aims to return to the $30-billion revenue this year, Semiconductors and Electronics Industries in the Philippines, Inc. president, Dan Lachica, has said. Lachica told the Philippine News Agency that if the industry can maintain a growth…

Net FDIs up 16.6% at end-March

The Philippine economy continues to attract more foreign investors that led net foreign direct investments to rise to $1.56 billion in the first quarter of 2017, up 16.6 percent from year ago's $1.3 billion. Data released by the Bangko Sentral…

Rediscounting window for small banks shut

The Monetary Board, the highest policy-making body of the Bangko Sentral, has terminated the rediscounting widows of thrift banks, rural banks, and cooperative banks after it noted the lesser need for the facility. With this, the rediscounting window now has…

Tax measure OK mirrors popular will

The 246 votes received by the proposed tax reform program when it was passed during the House of the Representatives plenary session last May 31 represented 90 percent of the Philippines’ more than 100 million population. Finance Secretary Carlos Dominguez…

Online stock trading on the rise

Online accounts at the Philippine stock market grew 27.8 percent to 302,516 from 236,669 in 2015, according to the annual Philippine Stock Exchange report. PSE reported also that the total number of stock market accounts, which include both online and…

PH urged to ratify EFTA deal

Swiss Ambassador Andrea Reichlin has urged the Philippines to ratify the free trade agreement with European Free Trade Association in order for the deal to become enforceable. In a meeting with the Philippines-Swiss Business Council of the Philippines, Reichlin said…

Slower inflation boon to economy

The slower inflation rate in May 2017 bodes well for the country’s economy in the near term, according to the National Economic and Development Authority. The Philippine Statistics Authority, an attached agency of the NEDA, reported that headline inflation eased…

ANZ keeps 3Q BSP rate hike projection

The slowdown in the country's inflation rate in May did not affect ANZ’s forecast for the adjustment in Bangko Sentral key rates, which it expects to increase starting in the third quarter of 2017. In a research note, the Melbourne-headquartered…

Tax reform credit plus, to boost revenues—Moody’s

Moody’s Investors Service has seen the Philippines’ comprehensive tax reform program as credit positive, as it will address the government’s weak revenue generation. Moody’s Credit Outlook released on Monday noted that the Tax Reform for Acceleration and Inclusion bill, which…
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