Economic managers bared three flagship projects—the construction of a new terminal for Clark International Airport, the Mega Manila Subway System, and the Philippine National Railways (PNR) North and South rail lines—that President Duterte is banking to ease the local transportation problem.
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The government hopes to raise P30 billion to help fund the planned massive rehabilitation and reconstruction effort for Marawi City through a bond float, Finance Secretary Carlos Dominguez III said. The Department of Finance (DOF) has directed the Bureau of Treasury (BTr) to study the possible issuance of debt securities.
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While the Duterte administration has unveiled a 10-point socioeconomic agenda early on in President Duterte’s term, the country’s largest business organization, Philippine Chamber of Commerce and Industry (PCCI), said it wanted to see a more detailed plan on it.On the sidelines of the 2017 Sulong Pilipinas forum, PCCI President George Barcelon told reporters that the private sector would like to …
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The Marawi City crisis, thus far, has a minimal effect on the economy, which is expected to continue its strong growth in the coming years, the International Monetary Fund (IMF) said in its recent assessment on the economy.
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The government cited the substantial inroads made by the Association of Southeast Asian Nations (Asean) on a wide range of initiatives aimed at establishing a seamless financial system across the region.
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International Container Terminal Services Inc.’s (ICTSI) Victoria International Container Terminal (VICT) at the Port of Melbourne, Australia is the first fully automated international container handling facility in the world.
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Globe Telecom has launched the $250-million Southeast Asia-United States (SEA-US) submarine cable system, providing direct links between Davao City and the United States that further enhance Internet connectivity in the country. Globe President and CEO Ernest Cu said the initiative was part of the company’s efforts to connect more homes and businesses to high speed Internet across the country. “It …
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Global port operator International Container Terminal Services Inc. (ICTSI) reported unaudited consolidated financial results for the first half of the year with revenue from port operations of $603.7 million (P30.15 billion), an increase of 10 percent from the $550.8 million (P27.54 billion) reported for the first six months of 2016.
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By Luis Leoncio The Philippine Competition Commission (PCC) is investigating anti-competitive practices in the cement industry, PCC Commissioner Johannes Benjamin Bernabe said in a forum last week.
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By Riza Lozada The Bangko Sentral ng Pilipinas (BSP) vows to further relax foreign exchange trading rules to help address rising financing requirements of the local economy. BSP Governor Nestor Espenilla Jr. said bank lending continues to be robust but noted financial institutions cannot sufficiently fund increasing needs, thus, the need to also support the local currency debt market.
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