MANILA, Philippines – Department of Finance (DOF) officials emphasized the need for Congress to pass the administration-proposed tax reform bill so that funds will be available for key infrastructure projects in 2018. If the bills are passed, the DOF expects an additional P1 trillion for the 2018 national budget, enough to fund road and flood-control […]
The government is looking into hybrid financing or a mix of foreign aid and loans to jump-start the infrastructure projects in the pipeline. Separately, Budget Secretary Benjamin E. Diokno said on Monday that the government would closely monitor the infrastructure projects to be rolled out this year through geo-tagging in a bid to fast-track implementation. […]
Integrated energy firm Semirara Mining and Power Corp (SMPC) is alotting up to $6.4 million (P320 million) for its host community infrastructure and livelihood projects this year in the Philippines. The spending is in line with the company’s 5Es program which aims to reduce poverty and facilitate development in its host community using a sustained, […]
AYALA MALLS will have invested P16 billion upon completing its sixth shopping center scheduled to open within the year. The mall business of listed property developer Ayala Land, Inc. earmarked such an amount for disbursement over a three-year period, its head Rowena M. Tomeldan said in an e-mail correspondence. In an earlier interview, Ms. Tomeldan […]
DAVAO CITY — Gatchalian-owned Waterfront Philippines, Inc. (WPI) has laid out a 10-year masterplan for its Waterfront Insular Hotel Davao, which will turn one of the city’s oldest hotels into a mixed-use leisure complex. The masterplan, presented by the Gatchalians to President Rodrigo R. Duterte in Malacañang last week, aims to use the vacant spaces […]
After several months of delay, Okada Manila is set to formally open its doors next month to make the $2-billion development the biggest integrated casino resort in the country. In an interview with the Inquirer, Philippine Amusement and Gaming Corp. chair Andrea Domingo said the sprawling casino hotel complex—owned by Japanese gaming tycoon Kazuo Okada—is […]
The Philippines stands to benefit in case the Trans-Pacific Partnership (TPP), previously pushed by the US, falters during the Trump presidency, London-based economic research firm Capital Economics said. “The main beneficiaries of the failure of the TPP and the improved prospects for RCEP [Regional Comprehensive Economic Partnership] are parts of Asia that were due to […]
MANILA, Philippines – The market saw some resistance yesterday, with the benchmark Philippine Stock Exchange index (PSEi) refusing to climb up to the 7,400 level. After booking gains during the morning trade — the PSEi was up 1.48 points or 0.02 percent as of 12 noon yesterday, the main composite index shed 47.29 points or […]
The quality of life of Filipino working class is heading for the worst as the value of their daily pay in pesos plunged to a measly 67 centavos in December last year, the lowest purchasing power of the local currency since 2008, the Associated Labor Unions (ALU) said. As a consequence of the diminishing value […]
The local stock barometer slipped on Wednesday but stayed above the 7,300 mark as investors pocketed recent gains. The main-share Philippine Stock Exchange index (PSEi) lost 47.29 points or 0.64 percent to close at 7,323.36, wiping the modest gain eked out in morning trade. The PSEi declined for the second straight session as investors reassessed […]