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Xiamen, a bustling coastal city of Fujian province where many Chinese-Filipinos in the Philippines have traced their origin, vowed to grab an unprecedented opportunity from its hosting of the 9th BRICS Summit to enhance its economic and tourism development. 

Businessmen in the southern part of the United States hailed the China-proposed Belt and Road Initiative, saying it will usher in a win-win cooperation. 

A senior UN official said that China has made great strides in poverty reduction and could be a “role model” for other nations in this aspect. 

By Riza Lozada  Since the Duterte administration had made it policy to reject financial aid with strings attached to it after rejecting 250 million euros. or P14-billion European Union (EU) grants, a think tank said that it might as well look into the United States’ aid programs. 

By Chito Lozada  Last of two parts  Many considers the current phase of uninterrupted progress in China as the bold new world of money, in which capital moves unceasingly everywhere in the country. 

By Luis Leoncio  The lower-than-expected 6.4 percent growth in the first quarter is not a source of worry for President Duterte’s economic managers, as the country remains one of the strongest performers among major emerging economies in Asia. 

The Energy Regulatory Commission (ERC) has ordered dominant power distributor Manila Electric Co. (Meralco) to refund P6.9 billion in over-recoveries to electricity users within three months instead of 36 months based on its petition to firm petitioned. 

The trend in economic risks facing financial institutions operating in the Philippines has become positive, based on improving credit fundamentals, S&P Global Ratings said in its latest “Banking Industry Country Risk Assessment: Philippines.” 

In a bid to build an advanced version of strategic partnership, China and Association of Southeast Asian Nations (ASEAN) unanimously agreed to formulate a 2030 Vision. 

The IMF could provide policy advice, financial support as well as capacity building for the Belt and Road Initiative, International Monetary Fund managing director Christine Lagarde said.