Business

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The cement industry sees infrastructure projects related to business process outsourcing (BPO) and properties development fueling the industry’s growth. “We have growing markets in Visayas like Iloilo, Bacol . . . [and these areas] have a call center already. So usually, when there’s BPO, all the developments are there. We…

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The Philippine’s annual headline inflation rate remained stable at 2.6 percent in May as most commodity groups recorded slower growth of prices, data from the National Statistics Office (NSO) showed on Wednesday. The May headline inflation is of the same rate as April 2013 but lower compared to the 2.9-percent…

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With the law allowing the infusion of foreign equity in rural banks now in place as embodied in Republic Act (RA) 10574, it is expected that foreign investors will start fostering partnerships with local industry players to fuel new investments to boost economic growth in the countryside. In the next…

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Government spending for infrastructure and other capital outlays as of April surged to P75.2 billion, or an increment of 44.8 percent year-on-year, the Department of Budget and Management (DBM) reported on Wednesday. The budget and management department noted that April infrastructure spending was P23 billion higher than last year’s figure,…

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The government is still on track in meeting its target for tax and revenue effort this year, the Department of Finance (DOF) said on Wednesday. “We are still on track to meet our goals for the tax effort and revenue effort, especially given our high first-quarter growth. We note that…

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Australian firm Otto Energy Ltd. is set to start the drilling in two new wells in the Galoc oil field in Northwest Palawan to bolster its bid to increase oil production at the field to more than 12,000 barrels of oil a day. In its filing with the Australian Securities…

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The wastes dumped in the country’s landfills need not go to waste. Cemex Philippines, one of the largest producers and distributors of cement in the country, announced on Wednesday that it would “go green,” by recycling wastes from landfills to fuels that will be used in mills processing its cement…

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West Zone water concessionaire Maynilad Water Services Inc. will begin this month the construction of the P190-million concrete water reservoir in Novaliches, Quezon City, to increase water pressure and ensure round-the-clock water supply in elevated portions of North Caloocan. In a statement, Ricky Vargas, Maynilad president and chief executive officer,…

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The Department of Environment and Natural Resources (DENR) said that the country is on the right track toward achieving compliant status with the Extractive Industry Transparency Initiative (EITI) by 2015, with comprehensive mining reforms now in place. Environment Secretary Ramon Paje made the assessment two weeks after the Philippines was…

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Capital International Private Equity Fund VI, L.P. (Cipef) and affiliated funds completed its subscription amounting to P2.5-billion worth of new Philippine deposit receipts (PDRs) to be issued by ABS-CBN Holdings Corp., which will in turn subscribe to the same number of newly issued common shares of the broadcasting firm. “We…