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Philippines opens up banking to Malaysia, Thailand

MACTAN ISLAND, Cebu, Philippines  – The Philippines firmed up yesterday agreements with Malaysia and Thailand 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. led yesterday the signing of the Declaration of […]

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Philippines growth easing to 6.4% this year – ADB

MANILA, Philippines –  The Asian Development Bank (ADB) expects economic growth in the Philippines to moderate to 6.4 percent in 2017 as the rise in commodity prices tempers  consumer spending. In its Asian Development Outlook 2017 report, the multilateral development bank said it is retaining its domestic growth expectation for 2017 but foresees domestic economic […]

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British Petroleum Expands to Indonesian Retail Fuel Market

TEMPO.CO, Jakarta – UK-based oil and gas company British Petroleum (BP) expanded its business in Indonesian retail fuel market. The company has joined hands with local fuel distributor PT Aneka Kimia Raya Corporindo Tbk (AKR), after signing an agreement on April 5, 2017, in London. Both parties agreed to establish a joint venture in the fuel business. […]

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Philippines: Customs improves collections in March

MANILA, Philippines –  The Bureau of Customs (BOC) said yesterday it has improved its revenue collection efforts during the month of March amid its intensified effort to curb smuggling in the country. Based on its preliminary report, the BOC said it collected P37.654 billion in duties and other tariff last month, up 16 percent from […]

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