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Fitch keeps stable outlook on Ph banks

Fitch Ratings remains positive on the Philippine banking system given the strong capitalization and the country’s financial stability. In a report, the debt rater said the domestic banking industry’s “profit growth will be underpinned mainly by balance-sheet expansion.” ”The gradual…

Tax reform no drag on car industry

Finance Secretary Carlos Dominguez III said the local automotive industry will continue its “healthy” growth rate even with the proposed adjustments in car excise taxes, given that the manageable price hikes in mass-market vehicles would be readily absorbed by buyers…

PCC scans playing field to boost efficiency

The Philippine Competition Commission, the country's anti-trust body that turned a year this month, is reviewing the country's overall competition landscape as part of its legislated mandate to ensure that industries and businesses don't fall prey to anti-competitive behaviors. The…

Top Japan bank sees 6%-7% PH growth

Mitsubishi UFJ Financial Group Inc., Japan’s biggest bank, forecasts the Philippine economy to grow between 6 to 7 percent this 2017. The bank's executives cited economic gains from the programs and policies of the Aquino administration and the strong commitment…

PH growth firmly on track

Bangko Sentral Governor Amando M. Tetangco Jr. is confident the country’s “underlying growth story remains intact” even as risks from external front rise this year. In his speech before the “Tuesday Club” forum of journalists at the EDSA Shangri-La on…

US stays as PH biz pal

The United States has vowed to continue partnering with the Philippines in improving the latter’s business environment and attracting more investors to the country. During the General Membership Meeting of the Makati Business Club on Tuesday, U.S. Ambassador to the…

Trump inks EO easing rules for US biz

WASHINGTON -- The US leader has inked an Executive Order that slashes two business regulations for every one new regulation for the country’s businesses. "We have to knock out two regulations for every new regulation," Trump stated in the Oval…

IMF says Greece debt ‘explosive' in long term

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WASHINGTON -- Greece's government debt remains highly unsustainable and will be "explosive" in the long run, requiring a more credible debt relief plan from Europe, the International Monetary Fund said in a report obtained by AFP. Addressing the debt burden…

DoF: Export boost needed

An official of the Department of Finance raised the need for further enhancement of the Philippines’ export sector in line with the Duterte administration’s bid to further open the domestic economy to foreign investors. According to the Economic Bulletin submitted…

Market mood driving peso weakness

A ranking Bangko Sentral official said the peso, despite its recent weakness remains firm because of the country’s strong macroeconomic fundamentals. ”We should emphasize that for an economy experiencing good external payments position the depreciation of the peso in 2016…

Lending standards steady as of Q4

Most banks in the Philippines continue to have steady lending standards amid concerns on the over-all health of the domestic economy. Results of the Senior Bank Loan Officers’ Survey for the last quarter of 2016 showed that based on modal…

BPO firm to hire 1k more workers

CEBU CITY-- Business process outsourcing firm Accenture is set to hire 1,000 more employees in Cebu this year, an official said. Lito Tayag, country managing director of Accenture, said the company, which is now on its tenth year of operations…

Apple antitrust suit: Qualcomm overcharged ‘billions’

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SAN FRANCISCO (AFP) - Apple on Friday sued Qualcomm, accusing the California chipmaker of abusing its market power to demand unfair royalties, echoing charges filed days earlier by US antitrust regulators. Tech giant Apple said in the court filing that…

Stocks rise as Trump takes over

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LONDON (AFP) - Wall Street climbed Friday before Donald Trump’s inauguration, while European indices drifted with markets hoping that the US president’s speech will expand on his planned economic policy. London’s benchmark FTSE 100 was the odd man out, dipping…

DoF to keep seniors, PWDs VAT-exempt

Sen. Juan Edgardo “Sonny” Angara on Tuesday welcomed the decision of the Department of Finance to come up with a revised tax reform proposal which keeps the value added tax exemption benefits of senior citizens and persons with disabilities. This…
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