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ABS-CBN News Posted at Feb 07 2017 07:53 PM http://news.abs-cbn.com/business/02/07/17/forex-reserves-rise-to-81-b-in-january-bsp MANILA – The country’s foreign exchange reserves rose to $81.044 billion in January from $80.691 billion in December, the Bangko Sentral ng Pilipinas (BSP) said Tuesday. The increase in foreign exchange reserves was mainly due to inflows arising from net foreign currency deposits by the […]
By Mary Grace Padin (The Philippine Star) Updated February 8, 2017 – 12:00am http://www.philstar.com/business/2017/02/08/1669999/treasury-makes-full-award-p15-b-reissued-t-bonds MANILA, Philippines – The Bureau of Treasury (BTr) yesterday made a full award of reissued Treasury bonds with remaining life of two years and 11 months amid strong participation from the market. The reissued papers fetched an average rate of 3.492 […]
By: Doris Dumlao-Abadilla Philippine Daily Inquirer 05:23 PM February 07, 2017 https://business.inquirer.net/224172/psei-slips-amid-sluggish-regional-marts The local stock barometer slipped on Tuesday, tracking mostly sluggish regional markets. The Philippine Stock Exchange index lost 31.76 points or 0.43 percent to close at 7,262.64. The decline was led by the property and holding firms while the industrial, services and mining/oil […]
By: Daxim L. Lucas Philippine Daily Inquirer 12:28 AM February 08, 2017 https://business.inquirer.net/224198/doe-probes-sual-plants-unscheduled-shutdown The Department of Energy (DOE) has sent a team to the Sual power station in Pangasinan to assess the restoration of its generating units that went offline due to an unscheduled shutdown on Monday morning. Sual—the largest coal-fired power plant in the […]
By Mary Grace Padin (The Philippine Star) Updated February 8, 2017 – 12:00am http://www.philstar.com/business/2017/02/08/1669997/revenue-loss-mine-closures-seen-p654-m MANILA, Philippines – The government stands to lose at least P653.64 million in revenues from the possible closure and suspension of 28 mining firms in the country, initial data from the Department of Finance (DOF) showed. Finance Secretary Carlos Dominguez III […]
By Victor V. Saulon Posted on February 08, 2017 http://www.bworldonline.com/content.php?section=Corporate&title=SMC-in-talks-with-2-Asian-firms-for-renewable-energy-venture&id=140298 SAN MIGUEL Corp. (SMC) is in talks with two Asian companies for a possible partnership, as the listed diversified conglomerate expands its energy portfolio to include renewables, the company said on Wednesday. “It’s about time we find a balance between promoting clean energy and securing the […]
by Victor V. Saulon Posted on February 08, 2017 http://www.bworldonline.com/content.php?section=Corporate&title=Maynilad-sets-aside-P13B-for-infrastructure-projects&id=140299 MAYNILAD Water Services, Inc. has earmarked P13.2 billion for this year’s projects, of which more than half will be set aside to improve water infrastructure, the company said on Wednesday. “Despite the delayed implementation of our arbitral award, we will pursue our investment plans for the […]
By Richmond Mercurio (The Philippine Star) Updated February 8, 2017 – 12:00am http://www.philstar.com/business/2017/02/08/1670000/dof-bent-slowing-down-vehicle-sales MANILA, Philippines – The Department of Finance (DOF) is bent on curtailing the number of vehicles being sold in the country to address the worsening traffic problem. “For cars in general, you want to slow down because the cities are getting clogged. […]
By Paolo Romero (The Philippine Star) Updated February 8, 2017 – 12:00am http://www.philstar.com/headlines/2017/02/08/1670177/senators-vow-work-overtime-traffic-emergency-powers MANILA, Philippines – Plenary debates on the bill to grant President Duterte emergency powers to address the worsening traffic crisis in the country started in the Senate yesterday, with Sen. Grace Poe expressing optimism that the measure would be approved in the […]
ABS-CBN News Posted at Feb 07 2017 08:12 PM http://news.abs-cbn.com/business/02/07/17/duterte-govt-eyes-iconic-infra-projects-diokno MANILA – The Duterte administration will focus on building “iconic” infrastructure projects to improve the country’s transportation sector, Budget Secretary Ben Diokno said. Diokno said these projects include seaports and airports as well as a 600-kilometer railway system that will connect Tutuban in Manila to […]
