MANILA, Philippines — Finance Secretary Carlos Dominguez is encouraging the country’s big insurance players to participate in the Duterte administration’s ambitious infrastructure program. “We encourage them to participate. In fact, I talked to them about the capital market, the bond market. They said that they really want to participate,” Dominguez said on the sidelines of […]
Read MoreMANILA, Philippines — Indonesia-based ridesharing company Go-Jek is seeking to enter the Philippines’ transport network vehicle service market and challenge Grab, just weeks after Uber departed from Southeast Asia. According to a report by DZMM radio on Tuesday, the Land Transportation Franchising and Regulatory Board, or LTFRB, had a meeting with Go-Jek officials who “signified their […]
Read MoreMANILA, Philippines — A United Nations agency has kept its 2018 growth estimate for the Philippines, amid broadly stable outlook for economic growth in the Asia Pacific region. The Philippine economy will likely grow by 6.8 percent this year and beat the 6.7 percent actual expansion in 2017, said the report released by the UN […]
Read MoreA slew of ride-hailing ventures are taking to the gridlocked streets of Manila, undeterred by the market dominance of Grab now that it controls Uber in the Philippines. Hype Transport Systems Inc. and Ipara Technologies and Solutions Inc. are just two of the five new entrants approved by the regulator since Grab agreed to take […]
Read MoreMANILA, Philippines — Economists are now talking about a second rate hike in the Philippines as odds of a possible increase on May 10, the first in more than three years, rose on inflationary pressures. Noelan Arbis, economist of British banking giant HSBC, said in its latest research note titled “Philippine Central Bank Watch: Ready […]
Read MoreMANILA, Philippines — The head of the Asian Development Bank (ADB) urged its developing member countries to consider carefully their ability to sustain debt payments before committing to projects that fit into China’s Belt and Road Initiative in order to avoid being stuck in a debt trap. “If countries borrow too much for certain infrastructure […]
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