MANILA, Philippines —Public spending on infrastructure surged by 54 percent in September as state agencies fast-tracked the implementation of projects as part of their spending catch-up measures, the Department of Budget and Management (DBM) reported yesterday. Based on the latest disbursement performance report of the DBM, infrastructure spending and other capital outlays amounted to P100.3 […]
Read MoreTHE country’s inflation is forecast to accelerate to 1.1 percent in October from 0.9 percent in September on account of higher fuel and power prices, an economist said on Tuesday. In a report, Union Bank of the Philippines (UnionBank) chief economist Ruben Carlo Asuncion said the recent drone attacks on Saudi Aramco’s oil-processing facilities — […]
Read MoreMANILA, Philippines — State-run Land Bank of the Philippines continued to book double-digit growth in its net income as of end-September as a result of its intensified lending activities, particularly to the agriculture sector, a top official said yesterday. In a statement, Landbank president and chief executive officer Cecilia Borromeo said the bank’s net profit […]
Read MoreMANILA, Philippines — The Philippines can attract more hospitality players to invest into the country with the improvement in its ease of doing business ranking, a property services firm said. “The improvement rankings are important especially if we are to entice more foreign hospitality players to invest in the Philippines,” Colliers International Philippines research manager […]
Read MoreMANILA, Philippines — Economists of private banks lowered anew their inflation forecasts for this year and next year due to stable global oil prices and lower electricity rates, base effects, easing domestic rice and other food prices, as well as weaker global economic prospects. The latest survey of private economists conducted by the Bangko Sentral […]
Read MoreMANILA, Philippines — The race to become a “smart city” is on and in Asia, Manila is the worst performer. Out of 102 cities worldwide, the Philippine capital ranked 94th in the 2019 Smart City Index published Thursday by Switzerland-based IMD Business School and Singapore University of Technology and Design. In Asia, Manila lagged behind […]
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