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JCR keeps Ph investment-grade rating

Sustained strong expansion of the Philippine economy prompted Japan Credit Rating Agency. Ltd to maintain its BBB+ rating, with stable outlook, on the country. JCR’s current rating on the country was first given in July 2015 after the debt rater…

Tokyo stocks down by break, N. Korea in focus

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TOKYO -- Tokyo stocks fell Wednesday morning, slipping below the key 20,000 level as global security concerns spiked after North Korea said it had successfully tested its first rocket capable of striking the United States. Washington confirmed Tuesday that Pyongyang's…

Revision of AMLA, bank secrecy law sought

The Bangko Sentral has a new governor in the person of Nestor Espenilla, Jr. During Monday’s turn over ceremony, Espenilla said he wants to strengthen the Anti-Money Laundering Act to prevent funding for terrorism. As the new leader of the…

Sell-off in technology firms sends Asia markets into reverse

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HONG KONG -- Asian markets reversed early gains Tuesday to sit mostly down in the afternoon as a sell-off in technology shares overshadowed a record close on Wall Street and a rally in energy firms. After surging on years of…

Samsung to invest $18B in memory chip business

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SEOUL -- Samsung Electronics will invest nearly $18 billion in its chip business, the South Korean firm said Tuesday, as it seeks to expand its lead in the global memory chip and smartphone markets. The world's top maker of smartphones…

No deep peso dive––BMI

BMI Research adjusted its end-2017 forecast for the Philippine peso against the US dollar from 50 to a greenback to 50.50 but stressed that it remains positive on the local currency “in total return terms.” In a research note, one…

Ph leads ASEAN mfg. index in June

The Philippines has recorded the highest manufacturing Purchasing Managers’ Index among seven ASEAN countries for the month of June, according to IHS Markit’s Nikkei Manufacturing PMI Report released Monday. The Philippines’ manufacturing PMI for June this year posted 53.9, but…

Moody’s affirmation proves sustained growth

Bangko Sentral Governor Amando M. Tetangco Jr. said Moody’s Investors Service’s move to affirm its credit rating on the Philippines only shows the continued improvement in the domestic economy. “The decision of Moody’s speaks well regarding the favorable path that…

SBMA chairman’s ouster sought

Subic Bay Freeport Zone stakeholders are asking President Duterte to replace Subic Bay Metropolitan Authority Chairman Martin Diño over claims of abuse and usurpation of authority. The growing clamor for Diño’s ouster now spilled out of the Freeport Zone with…

Manila Water sets P4.28 B for Boracay rehab

The Manila Water Co., through Boracay Island Water Company, has earmarked some P4.28 billion to meet the growing demand for reliable water system and improved sewage system in Boracay Island, Aklan Province. BIWC is the joint venture company of Manila…

Tax cut to boost buying power to 20%

A lawmaker at the House of Representatives on Sunday said the proposed lowering of personal income tax rates could give a 20-percent boost in the purchasing power of at least nine out of 10 Filipino individual taxpayers. In a statement,…

Budget gap 15% lower in May

Philippine budget gap reached P63.6 billion in May this year, 15 percent lower than the P75.1 billion deficit in the same month last year. Data released by the Bureau of Treasury Friday showed that the government spent more than its…

Plan to charge BoC OT fees vs airlines nixed

Overtime fees of airport officers must be shouldered by the government and not the airlines. This was the statement made by the Philippine Travel Agencies Association which protested the Customs Administrative Order that will place funding for overtime fees of…

BSP 2nd-half rate hike projections vary

Projections for Bangko Sentral rate hikes are now mixed, with some seeing a delay in rate increase in the second half of 2017 given the deceleration of inflation rate. In a study, BMI Research remains optimistic for a 50 basis…

Ayala Corp okays P30-B shelf offer

Ayala Corp.'s board of directors has approved the company’s filing of shelf registration with the Securities and Exchange Commission of up to P30 billion. In a disclosure to the Philippine Stock Exchange Friday, the conglomerate stated that it eyes a…
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