By Joann Santiago MANILA, July 27 (PNA) — The Philippine government has taken advantage of the still low interest rate environment in the first four months of 2014 by prepaying some of…
Category: Business & Economy
Belmonte stresses need to re-focus on economic gains and opportunities for continued development
MANILA, July 27 (PNA) — Speaker Feliciano Belmonte Jr. said Sunday that Congress is ready to welcome President Benigno Aquino III for his State-of-the Nation Address (SONA) before the joint session of…
General Government debt improves to 39.2% of GDP as of end-2013
MANILA, July 25 (PNA) — Philippine debt metrics continued to improve as an effect of the Aquino administration’s proactive liability management agenda. As of end-2013, the country’s general government (GG) debt to…
Fitch affirms ratings of 4 PHL banks
MANILA, July 25 (PNA) — Debt watcher Fitch Ratings on Friday affirmed the ratings of four Philippine banks on back of their improving core capitalization and loan loss reserves. The banks that…
LRTA Board approves awarding of P65-B LRT Cavite Extension Project to consortium
MANILA, July 25 (PNA) — After multiple delays, the Land Rail Transit Authority (LRTA) Board on Friday finally approved the awarding of the Light Rail Transit (LRT) 1 Cavite Extension Project to…
IMF eyes rebound of PHL economy in H2 of 2014
By Joann Santiago MANILA, July 25 (PNA) — A ranking official of the International Monetary Fund (IMF) said the Philippine economy is expected to rebound in the second half of 2014 after…
Aerospace industry discloses roadmap
MANILA, July 24 (PNA) — The country’s aerospace industry has presented their roadmaps during the 9th Trade and Industry (TID) Updates in Makati City Thursday. As presented by the Aerospace Industries Association…
Peso, PSEi post improvements on better investors’ sentiment
By Joann Santiago MANILA, July 23 (PNA) — Both the Philippine peso and the local bourse posted gains Wednesday on the back of improving investors’ sentiment in the region. The local currency…
Luzon reserve to stabilize at 768 MW on Thursday – NGCP
By Juzel L. Danganan MANILA, July 23 (PNA) — The Luzon grid’s reserve will stabilize at 768 megawatts (MW) on Thursday, according to the National Grid Corporation of the Philippines (NGCP’s) power…
Basic Energy Corporation, Spanish firm to develop hydropower projects in PHL
By Juzel L. Danganan MANILA, July 23 (PNA) — Philippine firm, Basic Energy Corporation, and Spain’s From Energies International Limited has signed a memorandum of understanding (MOU) to develop hydropower projects in…
7-yr PHL T-bond rate rise
MANILA, July 22 (PNA) – – Average rate of the Philippines’ seven-year Treasury bond rose to 3.742 percent during an auction by the Bureau of the Treasury (BTr) Tuesday. This is higher…
Moody’s sees stable credit outlook for Asia Pacific; PHL to be insulated from projected China slowdown
By Joann Santiago MANILA, July 22 (PNA) – – Moody’s Investors Service sees the Philippines being insulated in the possible cooling of the Chinese economy. The Philippines, which is among the few…
Metrobank commences offer period for BASEL 3 Tier 2 notes
MANILA, July 22 (PNA) – – Ty-led Metropolitan Banking Corporation (Metrobank) started Tuesday the offering of its new series BASEL 3-compliant Tier 2 notes. In a disclosure with the Philippine Stock Exchange…
BOI reports surge in inquiries for retirement homes investors in Cebu, PHL
CEBU CITY, July 21 (PNA) — The Board of Investments (BOI) has reported a surge of inquiries from investors wanting to set up integrated retirement facilities in Cebu and in the entire…
BOC revenues grow 17.5% in June 2014
By Ferdinand G. Patino MANILA, July 21 (PNA) — The Bureau of Customs (BOC) has collected P27.33 billion for the month of June 2014, up by 17.5% compared to the revenue posted…