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Remittance growth slows down

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Growth in the amount of money sent home by overseas Filipino workers slowed down in February despite sustained demand for skilled labor in developed economies like the US, Japan, and Canada.

Posted: April 15th, 2014 in Latest Business Stories | Read More »

Local bourse seeks removal of tax on IPOs

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More companies will go public if the government would scrap the costly tax of 1-4 percent on the gross proceeds of initial public offerings (IPO) in the Philippines, the only country in Southeast Asia with such burden on stock debuts, the chief of the local stock exchange said.

Posted: March 31st, 2014 in Headlines | Read More »

Unionbank offers to acquire Export Bank

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unionbank

Aboitiz-led Union Bank of the Philippines has offered to come in as the white knight of Export and Industry Bank (EIB), proposing a framework to revitalize the shuttered bank as part of the universal bank’s strategy to grow in preparation for the Southeast Asian economic integration.

Posted: March 17th, 2014 in Editor's Pick,Headlines | Read More »

Biz Buzz

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Preparations are now underway for the Philippines’ hosting of the 23rd World Economic Forum on East Asia set for this summer.

Posted: March 17th, 2014 in Editor's Pick,Headlines | Read More »

BSP: Islamic finance may be key to Mindanao dev’t

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Islamic finance may prove to be a boon for the Philippine economy, particularly in Mindanao—a geographically significant part of the country that has unfortunately lagged in terms of development.

Posted: March 17th, 2014 in Headlines | Read More »

Dairy sector output up

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Efforts to beef up the stock of dairy animals and pump up milk production are paying off as the dairy industry was the fastest-growing component of the domestic livestock sector in 2013.

Posted: March 17th, 2014 in Headlines | Read More »

DTI to embark on Asian, European roadshows

The Department of Trade and Industry (DTI) is conducting five major trade and investment missions in key cities in Asia and Europe for March and April, to tap new markets as well as pursue the bilateral talks and business initiatives held last year.

Posted: March 17th, 2014 in Headlines | Read More »

EDC takes next step in drafting export plan

The Export Development Council (EDC) expects to issue by the end of the month the first draft of the Philippine Export Development Plan (PEDP) 2014-2016, which will outline the targets, as well as product and market strategies, to boost export growth.

Posted: March 17th, 2014 in Headlines | Read More »

Gov’t eyes new round of foreign bond exchange

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After its successful $1-billion bond exchange in the international market in January, the Philippines may consider a similar activity in the coming months to temper the impact of rising interest rates.

Posted: March 17th, 2014 in Headlines | Read More »

Investors await Fed move

The local stock barometer is seen awaiting cues from the US Federal Reserve’s tapering of monetary stimulus this week after last week’s correction.

Posted: March 17th, 2014 in Headlines | Read More »

Jewelry firms see 20% growth in ’14

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Local jewelry makers expect a 20-percent growth in revenues this year amid rising demand for gold and silvery jewelry in the local market, the Philippine Exporters Confederation said.

Posted: March 17th, 2014 in Headlines | Read More »

Malaysia’s MTD asks for more time to submit bid

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Malaysia’s MTD Group plans to ask the government to extend the April 28 bid submission deadline for a massive railway public private partnership deal that will link Metro Manila and Cavite province, as its potential new partner wants to evaluate the project, a top executive said.

Posted: March 17th, 2014 in Headlines | Read More »

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