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Philippines, Indonesia agree to open up banking

MANILA, Philippines – The Philippines and Indonesia are set to ink an agreement this weekend to open up the banking industry aimed at greater financial integration and economic development among members of the Association of Southeast Asian Nations (ASEAN). Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. said a letter of intent (LOI) on the […]

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Philippines: Fewer companies to expand, hire in Q3

MANILA, Philippines – Fewer companies are set to expand and hire additional workers amid the expected slowdown in economic activity in the third quarter, results of a survey conducted by the Bangko Sentral ng Pilipinas (BSP) showed. Rosabel Guerrero, director of the BSP’s Department of Economic Statistics, said results of the latest Business Expectations Survey […]

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Philippines: Union Bank sees sustained growth

MANILA, Philippines – Aboitiz-led Union Bank of the Philippines plans to sustain its financial growth this year by focusing on its recurring income business, a company official said. In a press briefing Friday, Union Bank president and chief operating officer Edwin Bautista said the company is looking to grow at the same pace as in […]

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Philippines: Business outlook dims in Q3

MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) said businessmen have a less optimistic view for the third quarter after posting an upbeat view in the second quarter of this year. According to the BSP’s Business Expectation Survey for the second quarter of 2017, the business outlook was less optimistic, with the confidence index […]

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Philippines: Government fiscal surplus hits P52.8 B in April

MANILA, Philippines – The government generated a fiscal surplus of P52.8 billion in April as tax collections by the Bureau of Internal Revenue (BIR) during the period boosted revenue, the Bureau of the Treasury (BTr) reported yesterday. “April has historically generated a surplus for the government as the deadline for the filing of income taxes […]

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