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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,…

FDIs to remain strong

A ranking official of the Bangko Sentral remains positive that foreign direct investments will continue to boost the country’s balance of payment position. “I think foreign direct investment will remain strong,” BSP Deputy Governor Diwa Guinigundo told PNA. This, after…

Big tobacco farmers group back tax bill

The National Federation of Tobacco Farmers Association and Cooperatives is throwing its full support behind House Bill 4144, calling it the “true pro-farmers measure and pro-poor.” NAFTAC president Mario E. Cabasal also called on his group’s members to focus on…

‘TRAIN Express’ to boost growth to 9%

Albay Rep. Joey Sarte Salceda has recently filed House Bill 4688, titled Tax Reform for Acceleration and Inclusion or TRAIN, a centerpiece program that will “ultimately reduce poverty to single digit, grow the economy by 9%, and transform the Philippines…

Economy to grow 6.5% to 7%

The economy is likely to grow close to 7 percent in the fourth quarter, bringing the full-year growth to the high-end of the government’s target for the year. “I would say quite safely that it (2016 growth) would be between…

Top economic events under Duterte cited

With 2016 just about to close, what positive prospects can Filipinos look forward to next year and the years ahead? Albay Rep. Joey Sarte Salceda, a noted economist, said Filipinos have good reasons to feel good and be optimistic of…

PAL to start Clark operations

Flag carrier Philippine Airlines signed a memorandum of agreement with Clark International Airport Corporation on Tuesday, as the carrier’s domestic flights will begin operating in the Pampanga hub starting Friday (Dec. 16). Flights between Clark and Caticlan will operate daily…

FDIs swell 25.5% to $5.9B at end-Sept.

Foreign direct investments in the first nine months of 2016 jumped 25.3 percent year-on-year, Bangko Sentral data showed. The central bank on Monday reported that FDIs as of end-September this year amounted to USD5.9 billion, higher than year-ago’s $4.7 billion.…

SMDC sees P22B from residential units

SM Development Corp. the real estate arm of the SM Group of Companies, expects to generate P22 billion in sales after the launch of two residential projects located at the Mall of Asia complex in Pasay City. It introduced to…

Asia energy firms rally

Energy firms in Asia surged with rocketing oil prices on Monday after 11 non-OPEC countries agreed to huge cuts in crude production, while Saudi Arabia also signalled a bigger reduction in output than previously agreed. The 11 nations, led by…

Smart revenues swell to P12.5B

The mobile data revenues of Smart Communications increased to P12.5 billion for the first nine months of 2016 brought about by rising usage and monetization of its digital services. Smart’s monetization of its mobile data business continued to improve as…

SMC donates P1B for drug rehab centers

Conglomerate San Miguel Corp. on Tuesday formally handed over its P1-billion donation to the government for the construction of additional drug rehabilitation facilities in the country. Interior and Local Government Secretary Ismael Sueno thanked SMC President and Chief Operating Officer…

Perks for bank mergers, buy-ins back soon?

Monetary officials are considering restoring regulatory incentives for bank mergers and acquisitions to further strengthen the banking industry. BSP Deputy Governor Nestor Espenilla Jr., in his speech during the Chamber of Thrift Banks general membership meeting Tuesday, said the central…

Piñol sees 4% agri growth in Q4

Agriculture Secretary Emmanuel “Manny” Pinol has projected a 4 percent agricultural growth in the fourth quarter of 2016. “For the last quarter... actually tingin ko baka pumalo tayo ng 4 percent towards the end (of the year),” said Piñol in…
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