MANILA, Philippines — The Philippines can attract more foreign direct investments (FDIs) by easing restrictions on industries relying heavily on significant technological capability, expanding incentive options by going beyond offering tax holidays, improving ease of doing business, and honoring contracts across administrations, businessman Manuel V. Pangilinan said. Pangilinan, in a speech read yesterday by MVP […]
Read MoreInvestments in the country’s manufacturing sector surged by 244 percent to $1.15 billion last year from $334 million in 2016, the Department of Trade and Industry (DTI) said on Wednesday. “The figures account for 35 percent of the $ 3.3-billion equity capital placements in 2017,” Trade Secretary Ramon Lopez said in a statement. The Bangko […]
Read MoreMANILA, Philippines — Kuala Lumpur-based CIMB Group became the first bank from Southeast Asia to tap the platform of the financial technology arm of PLDT Inc. for its digital-only strategy in the Philippines. Malaysia’s second largest lender has partnered with FINTQ for its lending business. Through the partnership with the unit of PLDT and Voyager […]
Read MoreMANILA, Philippines — The second package of the government’s tax reform program is seen to make the country less competitive resulting to a slowdown in investments over the near term, BMI Research said. In its latest economic analysis, the research arm of the Fitch Group said the second of the five packages under the comprehensive […]
Read MoreOn Sept. 20, 2010, it took P44.25 to buy one US dollar. On July 1, 2016, when President Duterte was sworn into office, the exchange rate was P47.00 to $1. On Jan. 3, this year, the rate was P49.96. By March 9, it was down to P52.02 to $1. It is taking more pesos to […]
Read MoreMANILA, Philippines — The Investment Coordination Committee-Cabinet Committee (ICC-CabCom) of the National Economic and Development Authority (NEDA) has approved three big-ticket infrastructure projects collectively valued at P71.35 billion, the agency said yesterday. These include flood control projects in Mindanao, priority bridges in Metro Manila and an agro-enterprise project for rural areas. The Ambal-Simuay River and […]
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