The Philippine economy’s first-quarter performance was likely “on track” to hitting the government’s 6- to 7-percent growth target for the year, Economic Planning Secretary Arsenio M. Balisacan said on the sidelines of the 34th National Conference of Employers.
Merchandise imports in the first quarter of 2013 contracted as lower inbound shipments in March extended the contraction since January this year, indicating slow factory and exports growth for the period amid a weak global economy.
Land Bank of the Philippines said its loan portfolio grew by 13 percent to P274 billion in the first quarter of 2013 from P243 billion in the same period last year.
Publicly listed Greenergy Holdings Inc. expects to start earning from its aggressive expansion program in China by the third quarter this year.
Sysco, major food service firm based in Houston, Texas, is in talks with local firms such as publicly listed AgriNurture Inc. (ANI) on the possible supply of coconut water and related products, according to officials of ANI and the Department of Trade and Industry. ANI chair and CEO Antonio L. Tiu said in a [...]
The Joint Foreign Chambers (JFC) are urging fiscal authorities to address investor concerns on changing and confusing tax and incentive rules. Foreign business leaders are especially pushing for simpler rules on the value-added tax (VAT) that has to be paid when importing capital equipment, with the promise of a refund upon the filing of the proper claim.
The Philippines will stand by its export target of $81.53 billion for 2013 on the back of rising non-electronics shipments and a robust services sector, according to trade officials.
The Department of Trade and Industry (DTI) will only make minor adjustments in the Investment Priorities Plan (IPP) for 2013, putting off the major changes to 2014.
MANILA, Philippines—The National Economic and Development Authority (Neda) urged stronger education and internship programs for job-generating sectors. These are agribusiness, manufacturing, tourism, IT-Business Process Outsourcing (BPO), housing, infrastructure and logistics, Neda said in a statement. Socioeconomic Planning Secretary Arsenio M. Balisacan, who is also Neda director-general, said stronger coordination between government agencies and [...]
The value of metal production in the country dropped by nearly a fifth last year due to taxation issues, delays in mining legislation that would pave the way for new projects, the suspension of some large operations and the continued opposition of certain sectors to various forms of mining.
Singapore is seeking more agricultural imports from the Philippines amid growing demand for fresh and processed food in the city-state, Singaporean and Philippine officials said during a trade meeting in Pasay City.
Harrods of the United Kingdom, Sysco Corp. of the United States and other large food and retail companies have joined the 9th International Food Exhibition (IFEX)—the first time such large foreign buyers participated in the Manila-based expo, organizers said.
