Business

The next central bank head should have a good understanding of the Bangko Sentral ng Pilipinas (BSP) governor’s job, patience and a knowledge of how to work with the BSP which are the top three characters the next BSP chief must have, BSP Governor Amando Tetangco Jr. said.

By Riza Lozada Despite the still weak global economy, cash remittances from overseas Filipino work­ers (OFWs) grew by 8.6 per­cent from last year to $2.17 billion in January 2017, high­er than the Bangko Sentral ng Pilipinas (BSP) target of a four percent growth.

The International Monetary Fund (IMF) said in a report the global economy is showing more positive momentum, but warned that in­ward-looking policies and sharp tightening in global financial condi­tions could threaten the growth momentum.

With the booming economy, social enterprise The Global Filipino Investors Inc. (TGFI) encourages more Filipinos to save and invest their money properly.

By Riza Lozada The Philippine Stock Exchange, Inc. (PSE) signed an agreement with the Bankers Association of the Philippines (BAP) to resume discussions on the proposed purchase of BAP’s 28.9 percent stake in the Philippine Dealings System Holdings Corp. (PDS). The PSE has a 20.98 percent own­ership in PDS.

Global port operator International Container Terminal Ser­vices Inc. (ICTSI) plans to order the most modern equipment that will have the largest vessel handling capability in the coun­try and at par with those used in major developed markets around the world.

Construction equipment retailer Wilcon Depot Inc., which will soon be listed at the stock exchange, expressed plans to ex­pand its market reach through online presence and setting up pop-up stores.

Listed Philippine Seven Corp. (PSC), the local licensee of convenience store 7-Eleven, plans to put up 412 new stores in an expansion offensive worth P3.5 billion to support its target 20-percent growth this year.

Pagbilao, Quezon – In a bid to battle malnutrition among students in public schools, TeaM Energy, together with the Department of Education spearheads an on-going six-month feeding program in select public schools in the Municipality of Pagbilao in Quezon.

For the first time in many years, the gov­ernment main revenue agencies, the Bureau of Customs (BOC) and Bureau of Internal Revenue (BIR), are expected to hit their respective collection targets for this year, given their solid performance in 2016 and at the onset of 2017, Finance Secretary Carlos Dominguez III said.