THE PESO rebounded against the dollar yesterday on the back of lower-than-expected US economic growth in the last quarter of 2016 and amid negative market sentiment from US President Donald J. Trump’s recent pronouncements on immigrants. The peso ended at P49.82 versus the greenback on Monday, three centavos stronger than its P49.85 finish last Friday. […]
Local stocks ended a hairline higher on Monday, aided by month-end window-dressing activities while investors mulled the impact of recent US immigration restrictions. The main-share Philippine Stock Exchange index added 3.04 points or 0.04 percent to close at 7,336.71 on selective buying of stocks. “Philippine markets closed flat as US stocks eroded a bit on […]
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 […]