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ING Bank eyes Ph Q1 GDP at 6%-6.3%

An economist of ING Bank Manila sees a six to 6.3 percent expansion of the Philippine economy in the first quarter of 2017. This would be lower than the 6.8 percent print the economy registered in the first quarter of…

75% of E. Visayas towns short of banks

TACLOBAN CITY-- Eastern Visayas remains to be one of the underbanked regions in the country with 75 percent of towns having no bank offices, according to the Bangko Sentral. Out of 140 towns in six provinces, only 33 areas have…

Diokno highlights role of fiscal policy

Duterte's economic team presents the big-ticket projects aimed to reduce poverty and to fill the Philippine infrastructure gap at the Dutertenomics Forum II held on Tuesday at the Conrad Hotel in Pasay City.| Recently, Department of Budget and Management Secretary…

Oil earnings surge but some question skimpy investment

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NEW YORK -- Rising crude prices drove huge profits for US oil industry giants, but key figures in the sector have raised concerns about low investments in exploration and production. They warn that continued tepid oilfield investment creates the threat…

Full transparency vowed in infra projects

The Department of Transportation has vowed to ensure full transparency and accountability in the implementation of infrastructure projects in pursuance of the Duterte administration's vision of a Golden Age of Infrastructure in the Philippines. DOTr Secretary Arthur Tugade said the…

March budget gap down 17% to P61.5B

The country's budget deficit declined to P 61.5 billion in March 2017, down 17 percent from P74.4 billion a year ago. The Bureau of Treasury attributed the decline in budget gap to the faster growth of revenues compared with the…

Bill seeks grant of tax perks to movie shoots in Ph

To help boost tourism, a senator has filed a bill meant to grant tax incentives and other perks to foreign filmmakers who shoot their movies in the Philippines. Sen. Juan Edgardo Angara filed Senate Bill 1330, or the "Philippine Film…

Private sector assured of infra funding

The private sector will not be left out under the Duterte administration’s infrastructure program on back of the decision to implement hybrid-type of projects, Philippine economic managers said. During the DuterteNomics forum Tuesday night, Budget and Management Secretary Benjamin Diokno…

PNB eyes loan growth at ‘mid-teens’

Tan-led Philippine National Bank is considering a “mid-teens” level of loan expansion for 2017. PNB Executive Vice President Horacio Cebrero III, in a briefing Tuesday, said bank officials expected higher loan demand as the bank expanded operations in more provincial…

Luxury spenders defy Japan's tight-fisted reputation

TOKYO -- Tight-fisted shoppers, unsteady economic growth and a shrinking population: Japan doesn't exactly fit the image of a spending powerhouse these days. But you would never know it in Ginza -- Tokyo's answer to the Champs-Elysees or Fifth Avenue…

Payback from better ties with China, Russia

The Duterte administration’s push to achieve better relations with countries like China and Russia has brought gains to the Philippine economy, Trade Secretary Ramon Lopez said. During the 2nd Dutertenomics Forum at the Conrad Manila on Tuesday, Lopez noted that…

‘Expansive’ fiscal policy needed

Finance Secretary Carlos Dominguez III on Monday said the Duterte government’s fiscal policy needs “to be expansive” to be able to achieve the s Pootate’s infrastructure program. In his speech during the flag raising ceremony of the week-long Werth anniversary…

First Gen inks $500-M loan with 6 banks

First Gen Corp., through its unit First Gas Power Corp., has signed a USD500-million a seven-year loan with six banks on Monday. In a disclosure to the Philippine Stock Exchange, First Gen signed the loan with Bank of Commerce, Bank…

Asian markets, euro build on gains as eyes move to Trump

HONG KONG -- Asian markets extended gains Tuesday while the euro held up following Emmanuel Macron's first round presidential election win in France, with investors now looking forward to Donald Trump's promised tax reforms. Global markets soared Monday after Macron…

BIMP-EAGA wants come-ons to lure investments

The Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area wants to craft an incentive package to attract investors to explore opportunities in the sub-region. Mindanao Development Authority International Relations Division Development Management Officer Jonathan Miral said in a phone interview that offering…
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