Business

By
0

Asian Development Bank (ADB) operations in the Philippines amounted to over $700 million last year, the Manila-based multilateral lender said on Wednesday. In a fact sheet, the Manila-based ADB said that committed loans, grants, and technical assistance reached $715.30 million in 2017, bringing the cumulative total to $17.912 billion. “Since…

By
0

The country’s financial intelligence unit and concerned agencies will be working on a national strategy that will strengthen the fight against against money laundering and terrorist financing. Mel Georgie Racela, executive director of the Anti-Money Laundering Council (AMLC) Secretariat, said that this was in line with commitments to the intergovernmental…

By
0

The Intellectual Property Office of the Philippines (IPO PHL) has urged commercial court judges to ensure a secure environment for popular trademarks, as this entices foreign companies to do business in the country. They play an important role in promoting the country as having intellectual property safeguards in place to…

By
0

Economic managers see no need to revise growth and inflation expectations but other macroeconomic assumptions, particularly the peso-dollar rate and fiscal projections, have been adjusted to take latest developments into account. The interagency Development Budget Coordination Committee (DBCC), in a meeting on Tuesday, decided to keep the official gross domestic…

By
0

The economic loss from the six-month closure of Boracay island could reach P1.96 billion, the country’s Socioeconomic Planning chief said, with the impact to be mitigated by tourists opting for other Philippine destinations. Porters carry the luggage of tourists vacationing in Boracay ahead of the island’s closure on Thursday. AFP…

By
0

Filipinos looking for the IKEA experience will have to continue waiting before the Swedish furniture and home accessories retailer opens its first store in the Philippines. “We are [still]looking for sites and partners,” IKEA Southeast Asia Market Development Manager Georg Platzer told reporters at the sidelines of Monday’s launch of…

By
0

The so-called “super” consortium looking to rehabilitate, upgrade and operate the Ninoy Aquino Internation Airport (NAIA) is open to shortening its proposed concession period to address the Transportation department’s concerns. “The NAIA Consortium is considering a shorter concession period, given the pronouncement of [Transportation] Secretary [Arthur] Tugade that 35 years…

By
0

The Philippines’ production of raw sugar is forecast to decrease by 8 percent to 2.3 million metric tons (MMT) in 2017-2018 from 2.5 MMT in the previous market year, the US Department of Agriculture (USDA) said. In the Global Agricultural Information Network (Gain) report made by its Foreign Agricultural Service…

By
0

Some of the Philippines’ biggest cities will become future economic hubs and help relieve the pressure on Metro Manila, a top official of engineering design firm Aecom said on Tuesday. At the Asia Real Estate Summit in Manila, Aecom Country Representative Arnel Casanova identified these cities as Cebu, Davao, Zamboanga,…