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Infra investment to boost growth above 6.5%

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The Philippine economy is expected to expand over 6.5 percent in the current first quarter on the back of robust infrastructure spending, said First Metro Investment Corporation (FMIC) and the University of Asia and the Pacific (UA&P). FMIC and UA&P…

BPOs still driving ofc space demand

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Continued inflow of investments into the Philippines will drive the rising demand for more office spaces in the country, said the country’s leading property consultant Jones Lang LaSalle (JLL). JLL Chief Executive Officer for Asia-Pacific (APAC) Anthony Couse told reporters…

DTI sets Kapatid Mentor ME seminars

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The Department of Trade and Industry (DTI) will be conducting Mentor ME Seminars in 89 provinces nationwide for this year. DTI has kicked off the Mentor ME Seminars on March 8 in Catbalogan, Samar. Under the Kapatid Project, Mentor ME…

$7-B FDIs target on track

Bangko Sentral Governor Amando M. Tetangco Jr. expects foreign direct investments (FDIs) to sustain its rise on back of broad-based growth in the domestic economy. Tetangco said the country’s manufacturing sector “is picking up again in addition to the usual…

ALI to spend P16B on new malls

Real estate giant Ayala Land Inc. (ALI) plans to spend Php16 billion to build new malls over the next three years as it continues to build up its recurring income business, riding the country’s robust economic growth. “We are expanding…

SCG upbeat on PH operation

Thai firm Siam Cement Group is optimistic in its business operations in the Philippines with the country’s robust economic growth and construction sector. SCG Philippines Country Director Phaskorn Buranawit told reporters that the company’s projected growth for the next three…

Electronics eyes 5%-6% export growth

The country’s electronics sector targets to hit a 5.0 percent to 6.0 percent growth in export revenues at end-2017, an industry official told the Philippine News Agency Thursday. Semiconductor and Electronics Industry of the Philippines, Inc. President Dan Lachica said…

MB changes anti-cash-wash rules

The Bangko Sentral policy-making Monetary Board has revised the regulations on anti-money laundering and terrorist financing in a bid to enhance measures against these crimes. The measure, approved by the Board last Feb. 23 but released to media only Thursday,…

Agri sector loss leads to job cuts

The number of employed Filipinos decreased in January, partly due to the recent typhoons that affected the agriculture sector, according to the National Economic and Development Authority. The January 2017 Labor Force Survey of the Philippine Statistics Authority showed that…

January remittances hit $2.4B

Personal remittances from overseas Filipinos rose by 8.5 percent year-on-year in January to reach $2.4 billion, Bangko Sentral Governor Amando M. Tetangco, Jr. has announced. As defined in the Balance of Payments Manual, 6th Edition, personal remittances represent the sum…

BoC, BIR to hit 2017 targets

Secretary Carlos Dominguez III said he is “pretty sure” that the Bureaus of Customs and of Internal Revenue could attain their respective collection targets for this year, given their solid performance in 2016 and at the onset of 2017. The…

Construction projects up 2% in Q4

The Philippine Statistics Authority reported a 2-percent growth in construction projects in the fourth quarter of 2016. Data released by PSA on Wednesday showed that the total number of construction projects based on approved building permits in Q4 2016 increased…

BSP policy stance stays despite inflation uptick

Bangko Sentral Governor Amando Tetangco Jr. on Tuesday said there is no need to change the central bank’s monetary policy stance despite the faster inflation rate in February 2017. Data released by the Philippine Statistics Authority on Tuesday showed that…

Samsung heir denies charges at preliminary hearing

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SEOUL -- The heir to the Samsung business empire denies all charges in connection with a wide-ranging corruption scandal, his lawyers told a preliminary hearing Thursday. Lee Jae-Yong, 48, was not present at Seoul Central District court for the hearing,…

Pre-need industry net income up 26.53%

Philippines’ pre-need industry has regained its footing as shown by its 26.53 percent net income expansion as of end-December 2016. Insurance Commissioner Dennis Funa, in a release issued Tuesday, said the industry’s net income rose to P2.07 billion from year-ago’s…
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