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Q4 GDP likely grew 6.8%-7.1%

The Philippine economy is expected to have grown by 6.8 percent to 7.1 percent in the fourth quarter of 2016, bringing the average full-year growth to about 7 percent, according to the National Economic and Development Authority. NEDA Director-General Ernesto…

2016 vehicle-sales growth quickens

Automotive vehicle sales growth for the full year of 2016 further accelerated to 24.6 percent, faster than the 22.9 percent expansion in 2015. The joint report of Chamber of Automotive Manufacturers of the Philippines, Inc. and Truck Manufacturers Association released…

Tap China-ASEAN Fund, firms urged

Philippine companies are encouraged to avail themselves of equity investment fund that provides capital support to outstanding firms in both China and the ASEAN region to grow their businesses. Patrick Ip, Principal of China-ASEAN Capital Advisory Co. Ltd., said the…

Deadline for old peso bills March 31

LEGAZPI CITY -- The Bangko Sentral here announced the extension of the deadline for the exchange or replacement of the old Philippine banknote series, also known as the New Design series banknotes or NDS to March 31, 2017. Marlyn Paje,…

BdO sets terms for P60-B stock offer

BDO Unibank, Inc. announced that it has fixed the final terms for its P60 billion stock rights offering of up to 716.4 million common shares (the “Rights Shares”) to stockholders as of record date January 10, 2017. Each eligible stockholder…

SMDC eyes opportunities in ASEAN

MANILA (PNA) -- SM Development Corp., a subsidiary of property giant SM Prime Holdings, is scouting new business opportunities in the Association of Southeast Asian Nations (ASEAN) region, as it expands outside Philippines and China. “We just really have to…

Positive Ph prospects up

Businesses have better expectations in the Philippines in terms of profitability and exports in the next 12 months, but overall optimism in the economy has declined. According to the P&A Grant Thornton International Business Report (IBR) in fourth quarter of…

Hyundai group aims to sell 8.25 million cars in 2017

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South Korea’s largest automakers Hyundai Motor and its affiliate Kia have forecast sales of 8.25 million vehicles this year amid hopes that new factories will tap into emerging markets. The projected sales for 2017 mark a slight increase from the…

PH investment position up

The country’s International Investment Position improved as of end-September 2016 amid the tepid growth in the global economy in view of expected modest acceleration of global economic growth in the coming quarters. Preliminary IIP data showed that the country’s net…

Gov’t to end labor migration

MANILA -- Labor Secretary Silvestre H. Bello III said the government is firm in its commitment to generate more sustainable local jobs and eventually do away with labor migration. Addressing migrant workers and their families at the Bantayog ng mga…

Duterte triggers car rental biz boom

Davao city -- The huge influx of foreign and local tourists in Davao City and the rest of the region have already made positive impacts in car rental businesses, a senior official of the Davao City Chamber of Commerce and…

Ph reaffirmed as investment venue

The investment promotion unit of 28 government agencies has reaffirmed their commitment during the groups IPU Network Summit recently (December 1, 2016) to further enhance their collaboration and complementation efforts in facilitating and assisting existing and potential investors in a…

BSP nets P15.3B at end-October

MANILA - - Higher revenues along with the drop in expenses boosted the Bangko Sentral net income to P15.26 billion as of end-October 2016. Central bank data show that its revenues in the first 10 months this year amounted to…

BSP-PNOC-RC solar-panel deal inked

MANILA - The Bangko Sentral has added another achievement in its list – becoming a state agency that taps solar power to boost the government’s goal to increase the use of renewable energy. On Wednesday, officials of the central bank…

Forex target range set at P48-P50: $1

Economic managers have revised the government’s foreign exchange target for 2017-18 on latest weakness of the local currency given the negative external environment. Budget and Management Secretary Benjamin Diokno, after the meeting of the inter-agency Development Budget Coordination Committee Tuesday,…
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