Business

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TOKYO: Japan kept its position as the world’s largest creditor nation for the 22nd straight year in 2012, government data showed on Tuesday, as the dollar’s gains helped inflate the value of overseas assets. Tokyo was followed by mainland China and Germany in third place in the ranking, which reflects…

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I’ve just seen a report that the Service Contract 55 (SC 55) exploration well planned by a consortium including Otto Energy and Trans-Asia and operated by BHP has hit a snag with permits in Palawan. Apparently, the provincial government has required that BHP submit to them a socioeconomic development plan…

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PARIS: Europe’s two biggest economies, France and Germany, will on Tuesday finetune a new plan to fight spiraling youth joblessness, which has topped 50 percent in many countries of the crisis-ravaged eurozone. The broad outlines could emerge after French President Francois Hollande holds talks with the German and French finance…

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The national government’s fiscal deficit reached the highest level and surpassed the programmed ceiling for the month of April at P36.8 billion, the Bureau of Treasury (BTr) reported on Monday. In a statement, the bureau noted that the fiscal deficit exceeded the P32.8-billion program for the month. “I am pleased…

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The Philippine economy, as measured by gross domestic product (GDP), will maintain the growth it recorder last year, according to Moody’s Analytics. Reports said that in a regional outlook, Moody’s Analytics projected that the Philippine economy may expand at 6.6 percent in 2013. The said projection was similar to the…

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Revoking tax exemptions among gaming firms may hurt capital markets as well as hinder the company’s plan to establish an internationally known local gaming industry. The Bureau of Internal Revenue (BIR) recently issued a memorandum that revoked the income-tax exemption of the Philippine Amusement and Gaming Corp. (Pagcor), removing Pagcor…

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The Bangko Sentral ng Pilipinas (BSP) on Monday said that inflation this month likely settled at the lower end of the 3-percent to 5-percent full year target. In a text message, BSP Governor Amando Tetangco said that May inflation rate could be at 2.2 percent to 3.1 percent. Tetangco explained…

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The Philippine Stock Exchange (PSE) intends to take hold of a controlling stake upon its merger with the Philippine Dealing Systems Holdings Corp. (PDS), which basically involves the consolidation of bonds and equity markets. On the sidelines of the PSE-Asiamoney forum on Philippine Tourism, Leisure and Gaming, PSE President and…

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SUBIC BAY FREEPORT: The Subic Bay Metropolitan Authority (SBMA) on Monday reported a healthy increase of 62 percent in its net profit for the first quarter of the current year, as compared to its performance for the same period in 2012. According to SBMA Chairman Roberto Garcia, the agency’s net…

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The Bangko Sentral ng Pilipinas (BSP) on Monday announced that banks maintained their credit standards for loans to both enterprises and households during the first quarter of the year. Citing the results of the First Quarter 2013 Senior Bank Loan Officers’ Survey, the BSP said that overall credit standards were…