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PH to open doors to more foreign banks

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Maybank, Malaysia’s biggest bank, is one of several foreign banks operating in the Philippines. President Aquino has signed into law a bill allowing the “full entry of foreign banks into the Philippines” in preparation for next year’s Asean regional economic integration.  PHOTO FROM maybank2u.com.ph

The House of Representatives has ratified a bill that will pave the way for greater foreign participation in the banking industry in the Philippines, and which proponents say may boost trade and create more jobs.

Posted: June 12th, 2014 in Editor's Pick,Headlines | Read More »

Meralco ready to refund excess charges

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Protesters wear masks as they hold a rally at the Philippine Supreme Court to coincide with the oral arguments on the power rates hike petition of Meralco, the country's largest electric power distributor, Tuesday, Jan. 21, 2014 in Manila.  AP FILE PHOTO

MANILA Electric Co. (Meralco) yesterday said it would refund any excess amount should an order from the Energy Regulatory Commission (ERC) to recalculate electricity spot market prices cut the generation cost and other pass-on charges that it had collected from its 5.3 million customers.

Posted: March 13th, 2014 in Headlines | Read More »

House tackles antitrust measures

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House of Representatives. AP FILE PHOTO

Pending bills seeking to curb monopolies and unfair competition in business got a boost from various government agencies and business groups, which said that such measures were long overdue and needed in the light of the impending economic integration of countries in Southeast Asia by 2015.

Posted: March 11th, 2014 in Latest Business Stories | Read More »

Call centers to provide more jobs in 2014, says congressman

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INQUIRER FILE PHOTO

Call centers or business process outsourcing companies will remain a major source of employment in 2014, and could provide up to 124,000 new full-time jobs this year, according to Pasig Representative Roman Romulo.

Posted: January 1st, 2014 in Latest Business Stories | Read More »

Belmonte: Meeting needed on spurring the economy

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Speaker Feliciano Belmonte. INQUIRER FILE PHOTO

House Speaker Feliciano Belmonte said he would ask President Aquino to convene the Legislative-Executive Development Advisory Council (Ledac) in order to determine what bills are needed to be tackled by Congress to help spur economic growth.

Posted: November 8th, 2013 in Latest Business Stories | Read More »

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