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The Philippine Amusement and Gaming Corporation (PAGCOR) has cracked the whip on an offshore gaming service provider in Las Piñas City suspected to be involved in criminal activities.  In a Show Cause Order addressed to its authorized representative, PAGCOR ordered Xinchuang Network Technology, Inc. to explain in detail its defenses against the allegations being faced by the company and why …

On the celebration of the golden year of the Department of Tourism (DOT), President Ferdinand Marcos, Jr., together with Secretary Christina Garcia Frasco and other officials, led the unveiling of the country’s enhanced tourism campaign “Love the Philippines” as the highlight of the Department’s 50th founding year celebration at the iconic Manila Hotel, Tuesday (June 27) Proudly presenting “Love the …

President Ferdinand R. Marcos Jr. has appointed Monetary Board Member (MBM) Eli M. Remolona as the next Governor of the Bangko Sentral ng Pilipinas (BSP) and Chairman of the Monetary Board. This was announced recently by the Presidential Communications Office. MBM Remolona, 70, will serve a six-year term as Governor and Chairman of the Monetary Board starting 3 July 2023. …

Consumer sentiment for Q2 2023 remained pessimistic as the overall confidence index (CI) was steady at -10.5 percent from -10.4 percent in Q1 2023.  This means that the pessimists continued to outnumber the optimists, but the margin was almost unchanged from the previous quarter. The sustained negative sentiment for Q2 2023 was attributed by consumers to their concerns over: (a) …

Chinese businesses see the Philippines as a prime spot for their investments – this was the resounding sentiment of Chinese investors as the country welcomed members of the Chinese Enterprises Philippine Association (CEPA) who are wanting to leverage on the numerous investment prospects the country has to offer, during the Philippine Investment Opportunities Briefing for CEPA on June 15, 2023 …

Recognizing the significance of the United Kingdom in pursuit of the country’s socioeconomic agenda, Department of Trade and Industry (DTI) Secretary Fred Pascual attended two roundtable meetings on June 22, 2023 in London, which forms part of his three-week Europe Investment Roadshow.  During the roundtable meeting with the UK-ASEAN Business Council, an organization focused on facilitating trade and investment between …

In line with its commitment of bringing convenient and reliable banking services closer to more Filipinos, the Land Bank of the Philippines (LANDBANK) has ramped up expansion efforts in this island province with the installation of two new automated teller machines (ATMs) in the far-flung towns of Sibunag and San Lorenzo.  The new LANDBANK touchpoints are strategically located at the …

Manila Harbor Center (MHC), the largest international bulk and breakbulk handling operation at the Port of Manila and subsidiary of International Container Terminal Services, Inc. (ICTSI), facilitated the safe and efficient handling of 20,000 metric tons of urea fertilizers from China last 7 June 2023.  The fertilizers were donated by the Chinese government as part of the Agreement on Economic and Technical …

The Philippine Amusement and Gaming Corporation (PAGCOR) joined hands with the Philippine National Police (PNP) in delivering relief assistance to more communities in the island of Mindoro that are not only suffering from the devastating effects of the recent oil spill but also from several insurgency activities perpetrated by communist terrorist groups. PAGCOR participated in two community-based humanitarian missions spearheaded …

An agricultural economist in the academe on Tuesday said the agriculture sector’s contribution to the gross domestic product (GDP) naturally declines as a country moves closer to developed economy status. This came as a reaction to a Philippine Statistics Authority study showing that the agriculture, forestry and fishing (AFF) sector accounted for only 8.9 percent of GDP in 2022, the …