Philippine business optimism slips but still SE Asia’s second best

Philippine business optimism slips but still SE Asia’s second best

Philippine business optimism slips but still SE Asia’s second best August 8, 2018 | 12:31 am | (www.bworldonline.com) BUSINESS OPTIMISM in the Philippines slipped last quarter as against the year-ago level, although the country was still second-best in Southeast Asia, according to new research from Grant Thornton. In its International Business Report (IBR), the firm said optimism in the country’s economy dipped to 81% of respondents from 88% — reflecting “reaction to the external economic environment, the moderate pace of economic growth and the short-term challenges” — though the latest reading was still eight points more than in 2018’s first-quarter. But among the five covered members of the Association of Southeast Asian Nations (ASEAN), it said the figures “generally reflect the long-term view that the Philippines is on track towards becoming…
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House passes mandatory tree-planting bill on final reading

House passes mandatory tree-planting bill on final reading

By: Pathricia Ann V. Roxas - Reporter / @PathRoxasINQ INQUIRER.net / 06:36 PM July 31, 2018 A bill requiring the planting of trees for any construction of residential, commercial, industrial, and public buildings has come one step closer to becoming a law after the House of Representatives approved it on third and final reading on Tuesday. Voting 217, without any negative vote nor abstention, the lower chamber approved House Bill No. 7373, or “An Act Requiring The Planting Of Trees For Any Construction Of Residential, Commercial, Industrial And Public Buildings.” The proposed measure aims to “enhance environmental quality, mitigate the effects of climate change and preserve the environment for present and future generations.” Once passed into a law, organizations or individuals would be required to submit a tree planting plan (TPP) in securing a building…
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FDI commitments surge in first semester — BoI

FDI commitments surge in first semester — BoI

FDI commitments surge in first semester — BoI July 24, 2018 | 12:30 am | //bworldonline.com THE BOARD of Investments (BoI) saw value of committed foreign direct investments (FDIs) grow nearly threefold last semester, fueling a 27% increase in total pledges — including from Filipinos — in that period, according to data released on Monday. BoI — which was the third-biggest contributor of committed FDIs in the first quarter after the Philippine Economic Zone Authority and the Clark Development Corp. but was the top in terms of total pledges in the same period — saw FDI commitments increase by 165% to P14.5 billion last semester from P5.5 billion in 2016’s first six months, fueling a 27% hike in overall approved commitments to P239 billion from P188 billion. By source, Indonesia…
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Subic airport adds to infrastructure push

Subic airport adds to infrastructure push

Subic airport adds to infrastructure push July 5, 2018 | 12:34 am (//bworldonline.com) THE GOVERNMENT is pursuing plans to revive the Subic Bay International Airport before the second quarter of next year, the state Transport chief said in a press briefing on Wednesday where other economic managers reiterated the commitment to push major infrastructure projects despite current delays. Transportation Secretary Arthur P. Tugade said that his department has been in “serious talks with the Subic Bay Metropolitan Authority (SBMA)… already to buhayin ‘yung airport (revive the airport).” “The way I see it, I think sa tamang panahon magiging operational… siguro hindi aabutin ng first or second quarter next year (it is time to make the airport operational… maybe before the first or second quarter),” Mr. Tugade said in a media…
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BCDA to take over Mile Long; revenue to fund AFP upgrades

BCDA to take over Mile Long; revenue to fund AFP upgrades

BCDA to take over Mile Long; revenue to fund AFP upgrades June 19, 2018 | 11:22 pm | //bworldonline.com THE GOVERNMENT will set aside revenue generated by the redevelopment of the Mile Long property in Makati to the military modernization program, the Department of Finance (DoF) said. At the economic managers’ meeting with President Rodrigo R. Duterte last week, it was decided that the 2.9-hectare Mile Long property currently held by the Privatization Management Office (PMO) be transferred to the Bases Conversion and Development Authority (BCDA) so the proceeds can be used for the Armed Forces of the Philippines (AFP) Modernization Program. “I told the president, it will be easier for us to do it through a GOCC (government-owned and -controlled corporation) to go into a joint venture with the…
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President signs ease of doing business measure into law

President signs ease of doing business measure into law

May 28, 2018 | 10:06 pm (//bworldonline.com) PRESIDENT Rodrigo R. Duterte signed into law late Monday the Ease of Doing Business and Efficient Government Service Delivery Act of 2018, which amends and expands Republic Act No. 9485 or the Anti-Red Tape Act of 2007. The measure goes into the books as Republic Act 11032. Senate committee on trade chairman Juan Miguel F. Zubiri said in a statement prior to the signing that the law hopes to “make transparent and facilitate government procedures at all levels.” Mr. Zubiri, who authored and sponsored the law, said that among its salient features are: “streamlined procedures and shorter processing time for government transactions; automatic approval if an application or request is not acted upon within the prescribed processing time; adoption of Zero Contact policy;…
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Government greenlights Makati-BGC Skytrain

Government greenlights Makati-BGC Skytrain

(The Philippine Star) - May 28, 2018 - 12:00am MANILA, Philippines — The Department of Transportation (DOTr) has granted “original proponent status” to the two-kilometer Skytrain monorail project of Infracorp Development Inc., the infrastructure company of tycoon Andrew Tan’s Alliance Global Group Inc. (AGI) that will connect Fort Bonifacio in Taguig to Makati. “We laud the government’s quick action to the proposal. This is another clear indication of the government’s serious commitment and focus on infrastructure developments,” said Kevin Tan, Infracorp president. The P3-billion Skytrain monorail project will use automated cable-propelled monorail technology, reducing travel time from uptown Bonifacio to MRT Guadalupe to only five minutes, at no cost to the government. The project will also make provisions to interconnect with other transport hubs operating within the area where the…
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SEC clears DM Wenceslao’s P15.5-B initial public offering

SEC clears DM Wenceslao’s P15.5-B initial public offering

May 16, 2018 | 12:30 am Business World (bworldonline.com) THE Securities and Exchange Commission (SEC) has cleared property developer D.M. Wenceslao and Associates, Inc.’s application to raise around P15.5 billion in an initial public offering. In an e-mail sent to reporters on Tuesday, the SEC said it approved DM Wenceslao’s plan to sell 679.17 million common shares at up to P22.90 per share. The company also has an over-allotment option up to 101.88 million common shares. DM Wenceslao tapped BPI Capital Corp and Maybank Kim Eng as joint global coordinators and bookrunners for the offer. The company is targeting to offer the shares to the public from May 21 to 25, with listing at the Philippine Stock Exchange under the ticker DMW slated for June 1. The SEC said it…
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PH economy grows 6.8% in Q1

PH economy grows 6.8% in Q1

PH economy grows 6.8% in Q1 By: Ben O. de Vera - Reporter / @bendeveraINQ Inquirer Business / 10:17 AM May 10, 2018 The Philippine economy grew 6.8 percent in the first quarter, below the government’s target range of 7-8 percent growth for the entire year, the Philippine Statistics Authority (PSA) reported on Thursday. The gross domestic product expansion during the first three months was nonetheless faster than the 6.4 percent in the first quarter of last year and the adjusted 6.5 percent in the fourth quarter. Last year, the economy expanded by 6.7 percent – a slower pace than the 6.9 percent in 2016, which was an election year. /kga Source: //business.inquirer.net/250583/ph-economy-grows-6-8-q1
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Economic growth picks up in Q1 — poll

Economic growth picks up in Q1 — poll

By Carmina Angelica V. Olano May 8, 2018 | 12:33 am ECONOMISTS expect economic growth to pick up pace in the first quarter on the back of higher household and consumer spending that would largely offset the effects of inflation and the wider trade deficit. A BusinessWorld poll of 10 economists yielded a 6.8% median estimate of gross domestic product (GDP) growth for January-March 2018, faster than the revised 6.5% recorded in the first quarter of 2017. This puts the growth pace near the low-end of the government’s 7-8% target band for 2018. The Philippine Statistics Authority is scheduled to release the official GDP data on Thursday. In a note last Friday, Moody’s Analytics gave a 6.8% first quarter estimate, saying that demand-side factors have placed the economy “in somewhat of a…
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