Business

By Jerry Maglunog The power sector and infrastructure remain the most promising investment destination in the country because of the huge backlog in power and the continuing increase in population. 

The region’s major multilateral lenders, the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB), have agreed to cooperate to help speed up the development of Asia, mainly through the joint financing of projects.

The Rizal Commercial Banking Corp. (RCBC) has, in more than five decades, provided service excellence to its clients with its wide array of products and services suited to the needs of its diverse clientele. Through the years, RCBC continues its commitment to offer innovative banking solutions that are relevant and beneficial to various market segments. As part of its goal …

Hong Kong—Boeing said Chinese companies have agreed to buy 300 jets and build an aircraft assembly plant in China. The deals, worth about $38 billion, were signed during Chinese President Xi Jinping’s visit to the United States.

Los Angeles—Bob Rand bought his Volkswagen Passat last year for its clean emissions and high gas mileage. He liked the car so much that he convinced his son and a friend to buy one, too.

By Riza Lozada The government and the mining industry were encouraged to adopt international standards in revenue-sharing on mining operations to avoid the prevalence of disputes among players in the local mining industry.

The National Food Authority (NFA) approved on September 17 the awarding of contract for the supply of 750,000 metric tons (MT) of long-grain white rice 25 percent brokens to Thailand and Vietnam, based on the results of the government-to-government procurement.

The country’s foreign debt reached $75 billion at the end of the second quarter of this year, $3.6 billion lower than $78.6 billion during the same quarter last year, Bangko Sentral ng Pilipinas (BSP) data showed.

By Jerry Maglunog To avoid inconvenience because automated teller machines (ATMs) are limited in some areas in the country, an increasing number of executives are turning to their smartphones to do mobile banking.

Tokyo—Standard & Poor’s lowered Japan’s sovereign credit rating and said it doesn’t expect Prime Minister Shinzo Abe’s economic revival strategy to reverse deteriorating government finances within the next three years.