Business

By Riza Lozada The resignation of former Bureau of Customs (BOC) Commissioner John Phillip Sevilla was both controversial and an eye-opener for the business sector, as his departure was considered the result of industry groups resenting the aggressive BOC thrust to hike revenues lobbying against him.

Association of Southeast Asian Nations (Asean) members need to go beyond commerce and financial assistance to address factors that impede the achievement of the Millennium Development Goals (MDGs) as well as post-2015 development priorities, according to the National Economic and Development Authority (Neda).

By Jerry Maglunog Many are ecstatic about the 8,000-plus Philippine Stock Exchange index (PSEi), as they believe it is one of the indications that the Philippine economy is really growing.

Mass-housing developer 8990 Holdings Inc. has signed up the Walter Mart Group to operate malls in two of its mixed-used development projects in Metro Manila, 8990 Holdings Chief Executive Officer Januario Jesus Atencio said.

By Riza Lozada Cebuana Lhuillier has opened its first office in the Middle East, located at the Dubai Multi Commodities Centre (DMCC), to provide remittances service to the Philippines as well as a liaison office for its partners in the region.

By Jerry Maglunog With the closure of the Bangko Sentral ng Pilipinas’ (BSP) special deposit account (SDA), banks are now scrambling to have alternatives where to put their money.

By Jerry Maglunog Accolades about the Philippines are being peddled by government drumbeaters to convince the public that the economy is growing and investors are investing their money in the country.

By Riza Lozada Education and competitiveness enhancement projects are among those being considered for official development assistance (ODA) financing, National Economic and Development Authority (Neda) data showed.

The seven month-long truck ban last year in Metro Manila cost the national economy around P43.85 billion, but while the country’s leaders insist that the operation has normalized in the ports since last February, complex problems with port congestion and underutilization remains, a recent policy note released by state think tank Philippine Institute for Development Studies (PIDS) said.

Stock market stakeholders call it as almost “a jinx.” The stock index in the days after the visit of President Aquino to the bourse had refused to rise back to the 8,000 point level, ending the week at 7,946.89 down by 0.02 percent or 1.31 points.