Filipino migrant workers’ cash remittances are expected to surge to $11.3 billion next year, central bank forecasting gurus said.
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The Asian Development Bank has approved a US$1-million technical assistance (TA) grant to support the government’s health sector reform agenda (HSRA).
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Government has been losing as much as P106 billion in individual income tax revenues each year due to poor compliance by wealthy self-employed people, particularly own-account professionals as well as those running single proprietor business establishments, Negros Oriental Rep. Herminio Teves said.
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The Department of Trade and Industry is reviewing the country’s exports targets in light of the softening of the global demand for electronics sector, the country’s biggest export, with the possibility of downscaling the 8-10 percent exports target this year and 15 percent next year.
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The old five-hectare International School compound in Makati will be sold for P1.186 billion or P24,300 per square meters on November 11, the fourth time the government will attempt to privatize the property.
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Creditors banks are set to declare Indian-owned Global International Holdings Ltd. (GIHL) in default for failure to renew a P500 million standby letter of credit as part of the agreement when it purchased the former National Steel Corp. (NSC) for P13.25 billion.
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The peso rate closed at P55.45 to the US dollar last Friday at the Philippine Dealing System of the Bankers Association of the Philippines. The weighted average rate stand at P55.581.
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Investors are likely to focus on corporate earnings in the near term, apparently overshadowed by the possible impact of the expanded value-added tax (VAT).
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NEW YORK, Oct. 23 (Reuters) — US stocks were mixed on Friday, led by disappointing results from Caterpillar Inc. and strong Google Inc. earnings, while inflation worries boosted the dollar and bargain hunting lifted bonds.
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In a recent trip to Taiwan, I addressed several audiences made up of investors, entrepreneurs, academics, and university students. In addition to briefing them on the "Philippine Economy in the Midst of Political Turbulence," I discussed vital issues concerning Philippine-Taiwan Trade and Investment Relations.
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Petron Corporation has already secured the go-signal of its Board of Directors for the application of incentives for its petrochemical projects based on the terms and conditions set forth by the Board of Investments.
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Minimum wage setting should be seen as a protective social policy measure for the unskilled adult workers entering the workforce for the first time.
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The first part pf this essay explained how Voice over Internet Protocol (VoIP) allows people to make telephone calls over the Internet, resulting in several advantages over traditional telephony.
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While China Bank will remain untouched, the family of mall magnate Henry Sy is bent on increasing their interest in Equitable-PCI Bank (EPCI Bank) through the purchase of the 26.4 percent stake of Social Security System in the bank.
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Swedish mining companies have expressed interest in the Philippine’s mining sector as both countries sought to improve economic relations, said Trade and Industry Secretary Peter B. Favila.
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PAGBILAO, Quezon — Mirant Philippines has announced here the completion of its P42 million submarine cable transmission facility that would link the Subic Bay Freeport to the tourist destination Grande Island and is expected to improve reliability of power service in the area.
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For 2005 the BSP inflation target is 5 to 6 percent with a full-year forecast of 7.9 percent. This will no longer be changed, said Tetangco. Next year, however the inflation target is fixed at 4 to 5 percent and forecast at 7.5 percent, which would be adjusted to 8 to 8.5 percent once the DBCC agrees. They will meet this Wednesday.
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