Business

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TOKYO: Japan’s Cabinet on Friday rubber-stamped a package of government reforms aimed at re­booting the economy, as Prime Minister Shinzo Abe readied to explain the measures to fellow Group of Eight (G8) leaders. In a video message posted on his official website, the Premier repeated pledges that he would make…

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TOKYO: The dollar faced selling pressure in Asian currency markets on Friday, with traders eyeing the safe-haven Japanese yen as questions swirl over the timing of an end to the US Federal Reserve’s massive stimulus. The greenback see-sawed around the 95 yen level for most of the day, fetching 95.02…

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WASHINGTON, D.C.: The US Supreme Court’s rejection on Thursday (Friday in Manila) of natural DNA patent protection could hurt biotech companies, but specialists said that it left enough safeguards for the industry to keep innovating. The court ruled that Myriad Genetics, which sells expensive tests for the genetic markers for…

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The Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) on Thursday announced that it has decided to keep the current key policy rates. In a press briefing on Thursday, BSP Governor Amando Tetangco Jr. said that interest rates for the overnight borrowing or reverse repurchase facility is at…

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Businesses have given more time to prepare for the full implementation of the Bureau of Internal Revenue (BIR) regulation requiring the issuance and use of new sets of receipts. In a TV interview, BIR Commissioner Kim Jacinto-Henares said that the bureau delayed the deadline for the full implementation of Revenue…

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The Bangko Sentral ng Pilipinas (BSP) assured the public about the recent movements of the Philippine peso and the stock market “The recent movements in both the FX [foreign exchange rate] and stock markets are part of investor reassessment of global risk,” BSP Governor Amando Tetanco Jr. said in a…

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The Department of Tourism (DOT) is projecting tourist arrivals from abroad to hit 10 million by 2016, in addition to the 56 million domestic visitors. According to the DOT, those targets can be attained by improving “tourist products, destinations and infrastructure” based on the recently unveiled National Tourism Development Plan…

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Toulouse, France: Cebu Pacific took delivery of its first A330-300 during a special ceremony in Toulouse on Wednesday (Thursday in Manila). The aircraft is the first of four A330s being leased by Cebu Pacific from US lessor CIT, and will be used to launch the carrier’s new long-haul, low-fare operation.…

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Local automotive manufacturers belonging to Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) on Thursday announced slight growth in sales for the first five months of 2013. Based on the figures from the joint Marketing Committee of the Campi and the Truck Manufacturers Association (TMA), January to May sales…

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The Philippine Postal Corp. said that its has made improvements in the country’s mailing system with the help of DHL Express Philippines, one of the largest logistics providers in the world. DHL Express, an express logistics provider under German company Deutsche Post DHL, collaborated with PHLPost and offered additional shipment…