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FX reserves slip to $81.13B

Philippine Gross International Reserves reached $81.13 billion at the end of February this year, slightly lower than month-ago’s $81.38 billion and year-ago’s $81.88 billion, Bangko Sentral data released Tuesday show. It was, however, higher than the end-2016’s $80.7 billion. In…

China to fund $3.4-B infra projects

Chinese government will finance some $3.4-billion infrastructure projects in the Philippines, an offshoot of the signing of the 28th Joint Commission on Economic and Trade Cooperation held here on Tuesday. Philippine Trade Secretary Ramon Lopez and Chinese Minister of Commerce…

Doable economic thrusts back growth

The 31st High-Level Task Force on ASEAN Economic Integration convened on February 15-16 in Manila, gathering high-ranking ASEAN trade officials to discuss the implementation of the ASEAN Economic Community Blueprint 2025. HLTF-EI Chairperson and Permanent Secretary of the Ministry of…

3 Japan firms eye P14.5-B investments

Three Japanese companies are looking to invest some P14.5 billion in the Philippines, Department of Trade and Industry Secretary Ramon Lopez said Thursday. Lopez told reporters that Japanese shipbuilding company Tsuneishi is eyeing a P5-billion ship recycling facility that will…

D&L Industries sees 15%-19% profit growth

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Listed food and plastic input manufacturer D&L Industries expects to sustain a 15 to 19-percent growth in net income this year, as it continues to grow its overseas markets while domestic business remains robust on strong domestic economy. “For 2017,…

Volkswagen’s ‘dieselgate’ scandal

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FRANKFURT AM MAIN, - Volkswagen’s “dieselgate” emissions cheating scandal, revealed in September 2015, rocked the German auto giant but has also had an impact on public health, a new study says. A study published Friday said that pollution from 2.6…

5 best PH cities vie for start-ups

The influx of start-up businesses has stoked a new kind of competition among cities in the country. To attract new businesses, local governments have been improving their business-friendliness by coming up with new policies and ordinances that would make it…

Ph seen as key Zalora SEA mart

A global fashion e-commerce group is strengthening its position in the Philippines as one of the key markets of its Zalora operations in Southeast Asia through its partnership with local business giant Ayala Group. “This important partnership with the Ayala…

WDI eyes acquisition, new sites

Soon-to-be-listed Wilcon Depot Inc., the country’s leading construction retail store, is scouting for strategic acquisitions and more locations to support expansion and target growth over the next five years. Wilcon chairman and founder William Belo said the company was open…

M3 growth slows; bank lending grows

Growth of domestic liquidity or M3 registered a slower growth of 12.4 percent in the first month of 2017 from the revised 12.7 percent last December. Data released by the Bangko Sentral showed that total money sloshing in the system…

House panel OKs bills on mining-free zones

A House of Representatives panel has approved measures declaring North Cotabato and Cagayan de Oro City as mining-free zones. The House committee on natural resources chaired by Bayan Muna Partylist Rep. Carlos Isagani T. Zarate approved House Bill Nos. 2852…

Banks demand for more T-bills

Banks’ appetite for government-issued Treasury bond (T-bond) rose across-the-board Monday. The Bureau of the Treasury offered a total of P15 billion worth of 91-, 182-, and 364-day securities but bids reached P23.105 billion. Deputy Treasurer Erwin Sta. Ana told reporters…

IMF stresses monetary policy, tax reforms

An International Monetary Fund mission team that visited the Philippines from Feb. 20-24, 2017 found the country's monetary policy supportive of domestic expansion, with the latter forecasts to average at 6.8 percent for 2017. In a statement Friday, the IMF…

GDP seen to sprint 7% in Q1

The Philippine economy is expected to accelerate to 7 percent in the first quarter and for the rest of 2017 on better agricultural output and expected rebound of the external sector. Analysts of First Metro Investment Corp and the University…

SM Prime posts P24-B net income

Property conglomerate SM Prime Holdings, Inc. said its profit surged 14 percent in 2016 driven by the continued expansion of its malls and strong sales take-up of housing units. Its recurring net income reached P23.8 billion last year from P20.9…
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