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Aug. remittances bare spending support October 16, 2017

By Melissa Luz T. Lopez Senior Reporter REMITTANCES hit a five-month high in August, according to data the Bangko Sentral ng Pilipinas (BSP) released yesterday, shoring up expectations that household consumption continued to be a key driver of economic growth last quarter. The government is scheduled to report third-quarter gross domestic product (GDP) data on […]

PSE moving to woo China investors October 16, 2017

THE PHILIPPINE STOCK EXCHANGE (PSE) is wooing the Shenzhen Stock Exchange to secure a minority interest in the local bourse — a move that is seen increasing investments from China amid warmer ties between the two countries. PSE President and Chief Executive Officer Ramon S. Monzon told reporters on Monday that the bourse is in […]

Philippines faces ‘encouraging’ conditions — BSP October 16, 2017

A PICKUP in global economic expansion should be “encouraging” for emerging markets like the Philippines, the central bank chief said in a recent speech, with improving cross-border trade particularly expected to support the country’s growth momentum. Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. said the pickup in global economic activity bodes well […]

Who will be the next Entrepreneur Of The Year Philippines? October 16, 2017

The Entrepreneur Of The Year Philippines 2017 has concluded its search for the country’s most inspiring entrepreneurs. Entrepreneur Of The Year Philippines is a program of the SGV Foundation, Inc. with the participation of co-presenters Department of Trade and Industry, the Philippine Business for Social Progress, and the Philippine Stock Exchange. In the next few […]

Suspension order on Lepanto’s gold-copper mine lifted by OP October 16, 2017

LISTED Lepanto Consolidated Mining Co. told the stock exchange Monday that the Office of the President (OP) has lifted its suspension order imposed by former Environment Secretary Regina Paz L. Lopez. The firm said it received yesterday the Oct. 12-dated letter which gave Lepanto six months from receipt “to implement appropriate mitigating measures.” The OP […]

Home Credit Philippines aims to expand services to other sectors October 16, 2017

FINANCING FIRM Home Credit Philippines (HCPH) is mulling to extend its services to furniture purchases, as well as flight bookings, as part of its expansion program over the next two years. HCPH chief financial officer Zdenek Jankovsky said they will be injecting P18.6 billion in new capital until 2019 as they look to increase the […]

Bourse rejects Calata’s plan to spin off assets October 16, 2017

By Krista A. M. Montealegre, National Correspondent THE Philippine Stock Exchange (PSE) rejected the move of delisting-bound Calata Corp. to spin off its assets, but signaled it may “bend its rules” if the embattled agribusiness firm will pursue a tender offer for its minority shareholders, the bourse chief said. After the PSE initiated delisting proceedings […]

Sukuk seen to boost ASEAN emerging markets October 16, 2017

EMERGING MARKETS in the Association of Southeast Asian Nations (ASEAN) should tap the Islamic finance market to access more capital for their development policies, the Hongkong and Shanghai Banking Corp. (HSBC) said. This comes as the bank sees Islamic financing or sukuk gaining traction and awareness within the ASEAN region. “There is a growing interest […]

Filipino netizens ‘very open’ to social media interaction October 16, 2017

IN AN AGE where fake news and alternative facts have proliferated social media, Filipino netizens are found to be still more accepting of messages brands transmit to their news feeds, a research said. Kantar TNS’s 2017 Connected Life study — which involved a survey of 70,000 people in 56 countries and the conduct of 104 […]

Most Asian units rise vs dollar in catch-up trade October 16, 2017

MOST ASIAN CURRENCIES ticked up against the dollar on Monday, which softened after disappointing US inflation data on Friday undercut the greenback. The dollar index was little changed, lacking momentum after having posted its first weekly fall last week as underlying inflation remained muted despite a jump in US consumer prices. “When the dollar dropped […]