Business

The hotel arm of listed property developer 8990 Holdings Inc. plans to invest P1.5 billion to expand its hotel portfolio over the next six years, riding on the domestic tourism boom.

The local stock market can sustain its rally in the next few years, depending on the ability of the next leader to continue the Aquino administration’s reforms focusing on macroeconomic stability, a financial expert said.

By Riza Lozada The European Union (EU) had sought a clearer policy on the installation of solar panels on rooftops of factories.

By Jerry Maglunog Local money changers mostly accept only four currencies and gift certificates (GCs) of a popular mall chain because these are the notes that have several users. The Bangko Sentral ng Pilipinas (BSP) said the foreign-exchange shops do not violate any provision in their license in the purchase of popular gift checks.

Delegates to the Regional Social Dialogue Conference, held recently in Manila, have drawn up recommendations in pursuit of an “inclusive, stable, and sustainable Asean (Association of Southeast Asian Nations) with an inclusive, stable and sustainable Asean financial structure.”

The Philippines is not exempt from economic setbacks as a result of global difficulties, such as the Greek debt crisis, but it remains attractive to portfolio investors, as shown by the volume of foreign portfolio investments.

The National Economic and Development Authority (Neda) and the Department of Budget and Management (DBM) recently signed the National Evaluation Policy Framework that calls for the purposive conduct of independent evaluation of government programs and projects.

New York— Democratic presidential frontrunner Hillary Rodham Clinton laid out her agenda to help American workers last Monday, pledging to build a “growth and fairness economy” if elected to the White House that would boost wages that have remained stagnant since the Great Recession.

Athens, Greece—Greece has a tentative rescue deal, but relief that it is not falling out of the euro is unlikely to last long: its economy has taken a huge hit.

Beijing — China’s economic growth in the latest quarter held steady at 7 percent, its weakest performance since the global crisis, but better retail sales and factory output in June suggested efforts to reverse the slump might be gaining traction.