An out of the box Investment Priorities Plan (IPP) is being mulled by the Board of Investments (BoI) wherein the annual list of projects that the government will prioritize for promotion and granting of incentives would only consist of a portfolio of specific projects in specific locations.
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The Philippines and Taiwan are expected to sign the agreement on the proposed Subic-Clark-Kaohsiung Economic Corridor next month during the visit of Taiwan’s Economic Affairs Minister Ho Mei-yueh in time for the 13th Philippines-Taiwan Joint Economic Conference (JEC) on December 5 and 6.
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With the strong peso, the Bangko Sentral ng Pilipinas said the emerging inflation scenario next year could be closer to eight percent.
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ABS-CBN Broadcasting Corporation is keeping its capital expenditures (CAPEX) for next year at a manageable level.
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Globe Telecom made its first 3G (third-generation) demonstration all in Cebu City last week.
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Finance Secretary Margarito B. Teves said the Land Bank of the Philippines and Development Bank of the Philippines would go back to Congress soon to initiate capital-expansion efforts, which may include merging both banks.
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The peso rate closed at P54.590 to the US dollar last Friday at the Philippine Dealing System of the Bankers Association of the Philippines. The weighted average rate stands at P54.477.
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The Board of Investments (BoI) wants to tie tax incentives to a minimum volume of exports of completely-built-up (CBU) units under the Automotive Exports Program (AEP) rather than the value of exports and includes exports of auto parts and components in the program given the pending huge investments in parts manufacturing by some car assemblers that would make the Philippines a major exporter of auto parts and components.
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Share prices are likely to generate buying support this week as the market has shown resiliency.
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For most educated Filipinos, knowledge of Spain has become time-warped. Mention Spain, and bullfighters, soccer players, sausages, cheese and wine come to mind. Very few are aware of the fact that the Spanish economy has been the fastest growing in Europe for at least the last ten years. Today, it has the lowest unemployment rate in Europe and is considered the new European "tiger."
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The Philippine Stock Exchange (PSE) will revive next year its plans to allow real estate funds to list in the Exchange, PSE president Francis Lim said.
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The Philippines is drafting a forest certification system following an international trend that ensures lumber for sale in the world market comes only from sources that guarantee environmental sustainability.
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In a recent meeting with the International Monetary Fund (IMF), Power Sector Assets and Liabilities Management Corporation (PSALM) president Nieves L. Osorio reportedly committed year 2007 as the new privatization target for the concession contract of the National Transmission Corporation.
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The Department of Finance wants to make sure that the VAT (value- added tax) increase from 10 to 12 percent on February 1, 2006 is "legally solid" and "based on accurate information."
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The Philippine economy is to remain resilient amidst internal and external developments with gross domestic product (GDP) posting a 4.7 percent growth for this year.
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PNOC Exploration Corporation, China National Offshore Oil Corporation and Vietnam Oil and Gas Corporation have completed the first phase of the joint marine seismic survey in the Agreement Area in the South China Sea.
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Optimistic on the growth of fast casual restaurants in the Philippines, Lorenzo-controlled Pancake House, Inc. (PHI) has committed to put up more outlets in the next three years. The PHI Group is composed of its flagship brand Pancake House, Dencio’s Restaurants and newly acquired Teriyaki Boy.
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PUSAN, South Korea, Nov. 20 (Reuters) — Citigroup Inc., eyeing double-digit revenue growth in Asia in coming years, is on an acquisition trail in a region it hopes will eventually account for more than 16 percent of its global earnings.
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STAMFORD, Connecticut (AP) — General Electric Co. sold most of its insurance unit to Swiss Reinsurance Co. Friday for $6.8 billion in cash and stock, completing a strategy to leave a troublesome segment and redeploy cash to investors and faster-growing businesses.
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FRANKFURT, Nov. 20 (Reuters) — The European Central Bank is ready to raise interest rates moderately, ECB President JeanClaude Trichet said on Friday, sending a clear signal it will tighten rates in December for the first time in five years.
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LOS ANGELES, Nov. 20 (Reuters) — Microsoft Corp. hopes to gain an advantage over rivals Sony Corp. and Nintendo Co. Ltd. by being first to launch a next-generation video game console when its Xbox 360 debuts Nov. 22.
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NEW YORK, Nov. 20 (AFP) — World oil prices plumbed new five-month lows here Friday despite forecasts by the OPEC cartel of a rise in energy demand this year, especially from rapidly growing China.
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LONDON, Nov. 20 (Reuters) — The world sugar deficit will narrow to 3.03 million tons in 2005/06 from 3.94 million in 2004/05, London-based trade house Czarnikow said on Friday.
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SINGAPORE (Dow Jones) — Universities in Singapore are treading into territory where few other colleges in the region have gone before: the capital markets.
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Twenty years ago the Philippine telecommunications industry was a virtual monopoly.
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