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BOC accreditation arm loses authority after extortion reports
MANILA, Philippines – The Bureau of Customs' (BOC) Account Management office (AMO) – its accreditation office – lost its authority to suspend or otherwise cancel the registration of importers and...
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Metro Pacific to borrow P30B for CALAX, Cebu-Cordova bridge
MANILA, Philippines – The tollways unit of Metro Pacific Investments Corporation (MPIC) will borrow around P30 billion from local banks to finance the construction of the Cavite-Laguna Expressway...
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Landbank-DBP merger stopped
MANILA, Philippines – The country's economic managers blocked the previous administration's planned merger of state-owned banks Land Bank of the Philippines (Landbank) and Development Bank of the...
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Australia marks 25 years of unbroken economic growth
SYDNEY, Australia – Australia's economy grew by 0.5% in the June quarter with an upswing in government spending offsetting a fall in net exports as the nation marked 25 years of uninterrupted economic...
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Inflation slows to 1.8% in August on lower food prices
MANILA, Philippines – Even though the country entered the rainy season, stable food prices ensured that inflation dipped in August of this year.Data released by the National Economic and Development...
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Metro Pacific: Aviation is our 'next new industry'
MANILA, Philippines – Metro Pacific Investments Corporation (MPIC) is venturing into aviation infrastructure by participating in the auction of several public-private partnership (PPP) projects and...
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PH state of lawlessness to have limited impact on credit rating – Moody's
MANILA, Philippines –Moody's Investors Service said the country's investment grade rating is not immediately at risk despite the country being placed under a state of lawlessness following the Davao...
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PH stocks dip over security concerns, political 'uncertainty'
MANILA, Philippines – Philippine equities sank to their lowest close in over 5 weeks, with foreign and local investors pulling their money out of the market as they became anxious over the political...
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Weak Japanese growth puts pressure on Abe
TOKYO, Japan – Japan's economy barely grew in the second quarter, revised data showed Thursday, September 8, further calling into question Prime Minister Shinzo Abe's big-spending easy-money policy...
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PH foreign reserves hit record high of $85.9B in August
MANILA, Philippines – The country's international reserves hit a record high in August of this year.Preliminary data released by the Bangko Sentral ng Pilipinas (BSP) on Wednesday, September 7, showed...
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Employment rate highest since July 2011 – NEDA
MANILA, Philippines – The strong economic growth in the first half of 2016 has started to reflect on the local job market as the employment rate rose to 94.6% in July, the highest since the same period...
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PH consumer confidence at all-time high for Q3 2016
MANILA, Philippines – Filipino consumers are more upbeat about the third quarter of 2016 than ever, according to the latest Bangko Sentral ng Pilipinas (BSP) Consumer Expectations Survey (CES).The...
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Volkswagen engineer indicted in US emissions case
NEW YORK, USA – A Volkswagen engineer was indicted in Detroit federal court Friday, September 9, and pleaded guilty for his role in developing an emissions-cheating device installed on a half-million...
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Duterte: 'PH is open for business'
MANILA, Philippines – "My message was clear: the Philippines is open for business."This was one of the statements of President Rodrigo Duterte upon arrival in Davao City early Saturday morning,...
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PH trade down as exports, imports fall in July
MANILA, Philippines – The country's total merchandise trade fell in July as exports continued their prolonged decline amid a sluggish global economy, according to the National Economic and Development...
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Samsung shares plunge over smartphone explosion debacle
SEOUL, South Korea (UPDATED) – Samsung shares plunged Monday, September 12, after the South Korean electronics giant urged global consumers to stop using its Galaxy Note 7 smartphone due to a spate of...
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Foreign direct investments in PH up 94.9% in H1 2016
MANILA, Philippines – Foreign direct investment has nearly doubled in the first half of the year, according to the latest data by the Bangko Sentral ng Pilipinas (BSP).Data released by the BSP on...
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China to be first trillion-dollar air market – Boeing
BEIJING, China – China will become the world's first trillion-dollar aviation market as its expanding middle class takes to the skies in ever greater numbers, US manufacturer Boeing predicted Tuesday,...
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Global oil glut set to last at least until mid-2017 – IEA
PARIS, France – A global oil glut that has hurt producers but means cheaper pump prices for consumers looks set to go on at least 6 months longer than previously thought, the International Energy...
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Gov't: Fewer flight delays due to stricter rules, 'common sense' approach
MANILA, Philippines – The Department of Transportation (DOTr) on Wednesday, September 14, reported a decline in the number of flight delays due to the imposition of "stricter" guidelines.Manila...
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