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Philippines: New law a boon for foreign investments

MANILA, Philippines — Foreign investments are expected to further pick up following the signing into law of a measure that would make doing business easier by promoting efficient government services. American Chamber of Commerce of the Philippines executive director Ebb Hinchliffe said the new law on ease of doing business would encourage and entice more […]

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Trainmaker signs more purchase agreements with Philippines

After signing an agreement in January, state-owned train manufacturer PT Industri Kereta Api (INKA) signed on Monday another purchase agreement with Philippine National Railways (PNR). The agreement consists of the purchase of four sets of diesel-powered trains with a value of US$21.4 million, as well as the purchase of three locomotives and 15 passenger trains […]

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Philippines: Peso depreciation negative for Phl — Moody’s

MANILA, Philippines — The continued depreciation of currencies against the dollar is credit negative for countries with large external funding needs including the Philippines, Moody’s Investors Service said. In its latest Asia Pacific report titled “Currency depreciation will weigh on sovereigns with high external funding needs,” the debt watcher said. Emerging markets and some frontier […]

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Philippines to raise $2 B from foreign borrowings

MANILA, Philippines — The Philippine government plans to raise about $2 billion more this year through the sale of offshore commercial bonds, including samurai and global bonds, according to the Bureau of the Treasury (BTr). In an interview, Deputy Treasurer Sharon Almanza said the government has already issued $2.2 billion in offshore commercial securities out […]

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Philippines: Inflation uptick not a cause for concern, says ADB

MANILA, Philippines — Multilateral lender Asian Development Bank (ADB) said the faster increase in consumer prices should not be a cause for concern in the Philippines as monetary authorities are doing everything to curb rising inflationary pressures. ADB director general Ramesh Subramaniam said the recent inflation uptick should not be a cause for concern because […]

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