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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…

World Bank sees 6.9% Ph growth

The World Bank has projected the growth in the country's gross domestic product at 6.9 percent for 2017 and 2018. During the launch of the Philippine Economic Update April 2017 on Tuesday, World Bank lead economist Birgit Hansl said the…

Q1 capital raising at record high

Capital raised at The Philippine Stock Exchange, Inc. was at a record high of P67.04 billion in the first quarter of 2017. The amount came from an initial public offering and a stock rights offering. The previous highest amount of…

First quarter car sales up 23%

Sales of local automotive vehicles grew double digit in the first quarter ending March this year. Data from Chamber of Automotive Manufacturers of the Philippines Inc. and Truck Manufacturers Association released Monday show that their combined sales for January to…

Output index hits Q1 high

The country’s output index continued to increase in March and hit the highest score for the first quarter of the year, a Purchasing Managers’ Index (PMI) survey by IHS Markit showed Monday. The Nikkei Philippines Manufacturing PMI in March recorded…

Residential price spike tame

The Bangko Sentral on Friday reported the slight year-on-year uptick in residential real estate prices in the last quarter of 2016. However, BSP Deputy Governor Diwa Guinigundo said it was understandable since the expanding domestic economy had the same impact…

Wealth accounting key to growth

The Philippines will continuously implement wealth accounting initiatives needed to sustain long-term development, the country’s chief economic planner said Thursday. National Economic and Development Authority Director General Ernesto Pernia said the agency supported natural capital accounting to help more Filipinos…

BSP refines DOSRI rules

The Bangko Sentral has amended the regulation on interlocking directorship and/officership of government representatives to clarify their positions vis-à-vis their offices’ share holdings in banks and non-bank financial institutions. According to BSP Circular No. 953, Series of 2017, the amendment…

Fitch confirms economy’s strength

Bangko Sentral Governor Amando M. Tetangco Jr. said Fitch Ratings decision on Wednesday to affirm its ratings on the country attests to the strength and resiliency of the domestic economy. Fitch Ratings has affirmed its investment grade ‘BBB-‘ rating, with…

Megaworld bonds upsized to P12B

Property developer Megaworld Corp. has upsized its fixed rate bonds issue to P12 billion from the initial offer size of P8 billion on strong demand from investors. The Series B fixed rate bonds priced at 5.3535 percent per annum due…
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